2021.4Q January 2022 LX Semicon Earnings Source : Unaudited, Company financials
이자료에포함된회사의재무성과에대한정보는국제회계기준에따라연 결기준으로작성되었습니다. Safe Harbor Statement 2021 년 4 분기회사의경영실적및재무성과는투자자의편의를위해외부 감사인의검토절차가완료되지않은상태에서조기에작성된것으로그내 용중일부는외부감사인의최종검토과정에서달라질수있습니다. 이자료에는회사의전략및경영상황, 시장전망등을반영한미래에대한예측정보를포함하고있으며, 이러한예측정보들은불확실성을기본적으로내재하고있는바향후미래실적은이러한외부여건들의변화와회사전략방향에따라달라질수있음을양지하여주시기바랍니다. 본자료는아래당사홈페이지의투자정보에서도확인하실수있습니다. https://www.lxsemicon.com/kr/web/company/investor-relations/ir-report
회사프로필 주요연혁 1999 11월설립 2002 9월 LCD용 MD(Multi-Driver) Architecture 개발및 SD-IC 제품개발 2005 7월코멧네트워크, 51% 지분획득최대주주변경 2006 5월초저전력 ( 소모전력 50% 감소 ) IP 및 T-CON제품개발 2007 6월 AVDS Interface 기술및본기술적용한 COG Solution(SD-IC, T-CON) 개발 2008 11월초고속, 초박형, 고화질차세대 TV용 CEDS Interface 기술개발 2010 6월 KOSDAQ 상장 2014 7월 LG그룹편입 2015 4월 루셈의 System IC 사업부문일부영업양수 2015 7월 / 2018 5월 LG전자의 System IC 사업부문일부영업양수 2021 7월 LG그룹인적분할후 LX Semicon으로사명변경 S H A R E H O L D E R S 21년 12월기준 Ticker:108320 경영진 LX홀딩스 0.3% 33.1% 기타 66.6% 해외투자자 3 9. 4 % 템플턴자산운용 3. 8 % 국내투자자 2 7. 2 % - 국민연금공단 4. 2 % 배당 2018 2019 2020 2021 배당성향 27.6% 35.0% 30.3% 29.6% 배당수익률 2.5% 2.1% 2.5% 3.4% 연간배당기준 연간주당배당금흐름 단위 : 원 2020 1,350 2019 830 2018 830 2017 700 사업장 3
제품영역 S e m i c o n d u c t o r F o o d - c h a i n T V / C o m m e r c i a l Driver IC Timing Controller PMIC(Power Management IC) LED BLU Driver IC IT L a p t o p P C / T a b l e t / M o n i t o r Driver IC Timing Controller PMIC(Power Management IC) In-cell Touch Solution LED BLU Driver IC S m a r t p h o n e / W e a r a b l e H & A / A u t o m o t i v e Home Appliances System IC Automotive System IC Battery Management IC Mobile DDI POLED DDI TDDI (Touch embedded DDI) Touch IC N e w S e g m e n t s 4
전략파트너 Reliable Outsourcing Partners.. World leading Customers.. F r o n t - e n d F o u n d r y G o l d B u m p i n g P r o c e s s e d T a p e B a c k - e n d P r o b e T e s t i n g A s s e m b l y F i n a l T e s t i n g TV C o m m e r c i a l S m a r t p h o n e W e a r a b l e IT N e w S e g m e n t s 5
경쟁구도 글로벌반도체 T o p 5 글로벌 D D I 기업 21년 3분기기준 글로벌팹리스 #1 Novatek 25.8% TAIWAN CAGR( 14~ 20) 4.9% B$ 485 432 354 346 355 429 473 427 #2 Samsung LSI 24.5% R.O.K #3 LX Semicon 10.4% R.O.K #4 Himax 10.3% TAIWAN #5 Raydium 6.1% TAIWAN CAGR( 14~ 20) 4.1% B$ 87 81 77 85 91 89 110 108 2014 2015 2016 2017 2018 2019 2020 ~3Q21 LX Semicon Ranking 3Q21 43 2020 51 2019 60 2018 60 2017 63 2016 70 2015 73 2014 94 Sourced by OMDIA T o p 5 글로벌 반도체 기업 21년 3분기기준 #1 Samsung MEMORY, LOGIC R.O.K #2 Intel MPU USA #3 SK Hynix MEMORY R.O.K #4 Micron MEMORY USA #5 Qualcomm LOGIC USA 글로벌 Display Driver IC CAGR( 14~ 20) 4.3% B$ 9.6 8.5 6.6 6.0 5.6 6.4 6.7 7.1 2014 2015 2016 2017 2018 2019 2020 ~3Q21 LX Semicon DDI Sales & Ranking CAGR( 14~ 20) 19.9% 점유율 3Q21 3 10.4% B$ 2020 3 10.1% 2019 3 8.7% 2018 3 9.0% 2017 5 8.1% 2016 5 7.2% 2015 5 5.9% 2014 7 4.3% Sourced by OMDIA 2014 2015 2016 2017 2018 2019 2020 ~3Q21 LX Semicon Ranking 3Q21 13 2020 16 2019 19 2018 20 2017 20 2016 24 2015 24 2014 31 Sourced by OMDIA T o p 5 글로벌 팹리스 기업 21년 3분기기준 #1 Qualcomm LOGIC USA #2 nvidia MPU USA #3 Broadcom LOGIC USA #4 MediaTek LOGIC, ANALOG TAIWAN #5 AMD MPU USA 6
매출 연간매출 & 성장률 연간 O L E D 매출 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 - Sales YoY G/R 단위 : 십억원 63.4% 34.0% 13.8% 13.6% 14.3% 9.5% 1,899 1,162 867 792 693 610 2016 2017 2018 2019 2020 2021 60.0% 40.0% 20.0% 0.0% -20.0% -40.0% -60.0% -80.0% -100.0% -120.0% 800 600 400 200 - Sales OLED% of Total 44% 42% 단위 : 십억원 827 31% 28% 23% 491 12% 261 219 158 71 2016 2017 2018 2019 2020 2021 45% 40% 35% 30% 25% 20% 15% 10% 5% -1% 분기 매출 분기매출성장률 550 500 450 400 350 300 250 200 150 100 50 - 단위 : 십억원 177 196 250 244 213 219 367 363 406 449 505 539 115.0% QoQ G/R YoY G/R 105.0% 105.0% 95.0% 90.8% 85.0% 75.0% 67.6% 65.0% 48.9% 48.4% 55.0% 37.6% 45.0% 35.0% 10.7% 27.2% 19.9%11.6% 25.0% 47.0% 9.4% 15.0% 9.2% 3.3% 5.0% 16.7% 3.1% 11.8% 10.8% 12.5% 6.6% -5.0% 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21-15.0% -2.4% -12.8% -1.2% -25.0% -24.8% 7
제품믹스 연간 어플리케이션별 분기 어플리케이션별 TV IT Mobile New Segments TV IT Mobile New Segments 100% 80% 5% 5% 5% 6% 7% 8% 6% 6% 0% 5% 13% 21% 22% 20% 31% 31% 100% 80% 9% 10% 7% 7% 8% 6% 5% 5% 5% 6% 6% 5% 15% 14% 25% 21% 15% 19% 37% 33% 25% 29% 40% 37% 60% 40% 79% 52% 41% 34% 31% 29% 25% 23% 60% 40% 30% 26% 30% 30% 26% 33% 22% 24% 23% 24% 21% 25% 20% 38% 41% 39% 40% 43% 38% 40% 20% 46% 50% 38% 42% 51% 42% 36% 31% 39% 45% 44% 33% 16% 0% 2014 2015 2016 2017 2018 2019 2020 2021 0% 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 연간 제품별 분기 제품별 100% 80% 60% Large Driver-IC Small Driver-IC SoC etc. Others (Royalty etc.) 5% 2% 2% 2% 2% 1% 1% 0.3% 14% 14% 15% 13% 12% 18% 22% 21% 0% 5% 21% 13% 22% 20% 31% 31% Large Driver-IC Small Driver-IC SoC etc. Others (Royalty etc.) 1% 1% 1% 1% 1% 1% 1% 0.4% 0.2% 0.1% 0.7% 0.2% 16% 17% 14% 16% 17% 15% 12% 11% 11% 12% 11% 12% 15% 14% 25% 21% 15% 19% 37% 40% 33% 25% 29% 37% 40% 20% 77% 71% 64% 64% 62% 64% 55% 57% 68% 68% 60% 62% 67% 65% 50% 49% 56% 63% 59% 51% 0% 2014 2015 2016 2017 2018 2019 2020 2021 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 8
수익성 연간영업이익분기수익성 420 400 380 360 340 320 300 280 260 240 220 200 180 160 140 120 100 80 60 40 20-19.5% OP OP Margin 8.3% 8.1% 370 6.6% 7.0% 5.4% 단위 : 십억원 94 51 46 56 47 2016 2017 2018 2019 2020 2021 20.0% 15.0% 10.0% 30.0% 5.0% 0.0% 20.0% -5.0% -10.0% 10.0% -15.0% -20.0% GP Margin OP Margin 38.9% 35.8% 34.5% 25.5% 26.6% 27.1% 28.3% 22.4% 24.0%24.5% 26.3% 26.4% 21.3% 23.1% 15.9% 14.6% 13.2% 10.3% 5.6% 6.8% 5.5% 1.0% 3.2% 4.3% 1Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q21 영업비용인원 15.0% SG&A as a % of Revenue R&D as a % of Revenue 15.4% 17.4% 19.1% 17.4% 15.2% 15.0% 22.0% 21.6% 16.3% 13.2% 13.7% 14.6% 18.6% 13.4% 2021 2020 Total Employees R&D Engineering 880 1,034 736 1,285 5.0% 13.1% 8.6% 11.4% 10.8% 11.5% 10.4% 9.0% 2016 2017 2018 2019 2020 2021 5.0% 13.9% 13.7% 11.3% 7.5%9.2% 8.3%8.3% 7.8% 2019 1,018 723 2018 886 650 * Total - Employees: 200 주재원 400 포함600 800 1,000 1,200 9
Appendix 1. 연결손익계산서 ( 단위 : 백만원 ) 1Q 19 2Q 19 3Q 19 4Q 19 2019 1Q 20 2Q 20 3Q 20 4Q 20 2020 1Q 21 2Q 21 3Q 21 4Q 21 2021 매출 177,366 196,302 249,726 243,728 867,122 212,578 219,131 367,217 362,971 1,161,896 405,624 449,275 505,394 538,552 1,898,846 매출원가 137,661 149,098 188,491 178,981 654,232 154,896 161,526 270,310 279,139 865,870 290,674 288,270 308,870 352,539 1,240,353 매출총이익 39,706 47,203 61,235 64,746 212,891 57,682 57,605 96,907 83,832 296,026 114,949 161,005 196,525 186,013 658,492 판매비와관리비 37,943 40,970 47,188 39,535 165,636 45,996 48,273 48,428 59,103 201,800 55,708 65,454 67,540 100,169 288,871 경상개발비 23,532 24,839 28,625 22,838 99,834 29,653 30,117 27,521 33,564 120,856 33,835 37,261 39,198 61,062 171,357 영업이익 1,763 6,233 14,047 25,212 47,255 11,687 9,332 48,479 24,729 94,227 59,241 95,551 128,985 85,844 369,622 법인세비용차감전순이익 3,244 7,334 15,575 20,734 46,888 16,666 7,609 46,842 19,799 90,915 64,702 95,494 134,188 86,292 380,676 법인세비용 387 1,328 5,102 1,532 8,349 3,856 863 9,883 3,785 18,386 13,882 22,599 29,718 18,053 84,252 당기순이익 2,858 6,006 10,473 19,202 38,539 12,810 6,746 36,959 16,014 72,529 50,820 72,895 104,470 68,239 296,424 EBITDA 5,557 9,945 17,837 28,997 62,336 15,584 13,560 52,308 28,579 109,412 63,200 100,504 135,986 92,887 385,488 감가상각비 3,794 3,712 3,790 3,785 15,081 3,897 4,228 3,829 3,850 15,185 3,959 4,953 7,001 7,042 15,866 10
Appendix 2. 연결재무상태표 ( 단위 : 백만원 ) 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 자산 646,543 652,223 635,511 629,733 630,515 678,569 795,800 750,602 833,741 920,984 1,105,778 1,172,531 유동자산 544,002 551,618 527,886 519,233 522,702 569,020 687,915 629,332 714,073 789,762 978,391 1,031,063 현금 * 229,401 201,351 173,326 209,686 196,295 228,155 235,525 251,413 304,434 318,680 457,130 605,614 매출채권 182,166 195,268 178,422 159,276 187,137 148,563 228,953 210,368 248,837 309,210 273,752 175,265 재고자산 111,579 127,862 136,703 118,843 112,215 165,482 174,759 135,265 121,780 117,059 186,233 201,118 비유동자산 102,540 100,605 107,625 110,500 107,813 109,549 107,885 121,270 119,669 131,222 127,387 141,468 유형자산 26,062 25,198 24,007 31,623 31,045 32,072 30,061 41,793 43,735 54,771 53,290 57,942 무형자산 57,734 57,420 57,267 52,680 51,270 53,613 52,816 52,145 51,247 50,629 50,046 50,216 부채 210,465 210,148 182,939 157,526 158,849 200,220 280,460 218,318 272,462 286,759 366,869 372,198 유동부채 199,482 199,590 170,426 144,852 144,977 184,033 262,485 209,089 261,038 269,615 346,383 363,583 매입채무 148,379 164,833 127,278 112,842 98,524 147,733 200,164 144,000 180,741 181,650 235,726 213,463 비유동부채 10,982 10,558 12,514 12,675 13,872 16,187 17,976 9,229 11,424 17,144 20,486 8,615 자본 436,078 442,075 452,571 472,207 471,667 478,349 515,340 532,285 561,279 634,226 738,908 800,333 * 현금 : 단기금융상품포함된금액임. 11
Appendix 3. 연결현금흐름표 ( 단위 : 백만원 ) 1Q 19 2Q 19 3Q 19 4Q 19 2019 1Q 20 2Q 20 3Q 20 4Q 20 2020 1Q 21 2Q 21 3Q 21 4Q 21 2021 영업활동으로인한현금흐름 11,258 (11,851) (21,204) 42,493 20,695 (9,987) 51,370 9,099 32,474 82,956 58,230 52,427 141,360 169,485 421,503 당기순이익 2,858 6,006 10,473 19,202 38,539 12,810 6,746 36,959 16,014 72,529 50,820 72,895 104,470 68,239 296,424 유무형자산감가상각비 3,794 3,712 3,790 3,785 15,081 3,897 4,228 3,829 3,850 15,804 3,959 4,953 7,001 7,042 22,956 운전자본의증감 3,032 (12,643) (29,648) 21,621 (17,638) (31,627) 27,259 (41,440) (1,059) (46,866) 22,999 (72,547) 20,335 55,031 25,818 기타 1,575 (8,927) (5,819) (2,115) (15,287) 4,932 13,137 9,750 13,973 41,793 (19,548) 47,127 9,554 39,173 76,305 투자활동으로인한현금흐름 (63,668) (11,932) (46,092) 4,490 (117,201) (53,137) (24,623) 38,017 (35,698) (75,441) (44,075) (25,430) (131,647) (160,100) (361,251) 재무활동으로인한현금흐름 (749) (14,239) (750) (530) (16,267) (691) (14,400) (772) (747) (16,610) (761) (22,752) (877) (888) (25,278) 배당금지급 (13,499) (13,499) (13,499) (13,499) (21,957) (21,957) 현금의증감 (53,158) (38,022) (68,046) 46,453 (112,774) (63,815) 12,347 46,344 (3,972) (9,096) 13,394 4,245 8,837 8,497 34,974 12