MIRA INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DAEWOO INTERNATIONAL CORPORATION |
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Registered Office : |
541, Namdaemoon-Ro 5-Ga, Joong-Gu, Seoul, 100-802 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
27.12.2000 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
provision of trade services |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
---- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Korea |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Daewoo International Corporation
541, Namdaemoon-Ro 5-Ga
Joong-Gu
Seoul, 100-802
Korea, Republic of
Tel: 82-2-7592114
Fax: 82-2-7592389
Web: www.daewoo.com
synthesis
Employees: 1,805
Company Type: Public Subsidiary
Corporate Family: 59
Companies
Ultimate Parent: POSCO
Traded: Korea
Stock Exchange: 047050
Incorporation Date:
27-Dec-2000
Auditor: Ernst & Young LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: South
Korean Won
Annual Sales: 13,934.1 1
Net Income: 106.1
Total Assets: 4,979.9 2
Market Value: 3,638.2
(05-Aug-2011)
Business Description
Daewoo
International Corporation is a Korea-based company specialized in the provision
of trade services. The Company operates its business mainly through three
divisions: trade, manufacture and department store. The Trade business division
is involved in the international trading of steel products, metals, machinery,
chemical products, automobile components, electronics, textiles, apparels,
steel raw materials, non-ferrous metals and others in Asia, Africa, Oceania,
North America, Middle and south America and Europe. The Manufacture business
division operates a textile factory in Busan, Korea. The Department Store
business division operates Masan Daewoo Department Store, based in Gyeongnam
Province, Korea. As of December 31, 2010, the Company had 58 affiliated
companies. For the three months ended 31 March 2011, Daewoo International
Corporation's total revenue increased 25% to W4.576T. The Company's net income
decreased 88% to W3.69B. Revenues reflect higher foreign sales of finished
goods, and domestic sales of merchandises. Net income suffered from decreased
gain on foreign exchange translation and decreased interest income, as well as
decreased gain on disposal of tangible assets.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3322 - Metal and
Mineral Wholesaling
NACE 2002: 5152 - Wholesale
of metals and ores
NAICS 2002: 42351 - Metal
Service Centers and Other Metal Merchant Wholesalers
UK SIC 2003: 5152 - Wholesale
of metals and ores
US SIC 1987: 5051 - Metals
Service Centers and Offices
Key Executives
|
Name |
Title |
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Jae Yong Kim |
President, Co-Chief Executive Officer,
Director |
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Byeong Yil Jeon |
Vice President |
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Lee Dong-Hee |
Chief Executive Officer & Vice
Chairman |
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Hong Soo Seol |
Executive Vice President-Finance &
Accounts |
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KS Koh |
Business Development Director |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
Litigation |
1 |
Daewoo International Corporation Announces
Lawsuit Filed by France-based Company |
29-Mar-2011 |
|
Mergers / Acquisitions |
3 |
Daewoo International Corporation to
Acquire PT. Bio Inti Agrindo (Indonesia) |
26-Apr-2011 |
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Strategic Combinations |
1 |
Daewoo International Corporation to
Establish JV in China |
14-Oct-2010 |
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Equity Investments |
2 |
Daewoo International Corporation Announces
Changes in Shareholding Structure |
11-Apr-2011 |
|
Debt Financing / Related |
2 |
Daewoo International Corporation Decides
Issuance of Commercial Paper |
22-Jul-2011 |
* number of significant developments within the last 12 months
News
|
Title |
Date |
|
Roundup:
S.Korean shares rise on technical rebound |
23-Aug-2011 |
|
Vehicle
assembling racket busted in Kottawa |
22-Aug-2011 |
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Illegal
vehicle racket busted |
21-Aug-2011 |
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BRIEF:
Hit-and-run suspect faces charges |
20-Aug-2011 |
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Sharp looks
give citycar lot of Spark |
19-Aug-2011 |
Financial Summary
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1156.282
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1134.9
© 1983-2011 Reuters Research Inc. All Rights Reserved.
Corporate Overview
Location
541, Namdaemoon-Ro 5-Ga
Joong-Gu
Seoul, 100-802
Korea, Republic of
Tel: 82-2-7592114
Fax: 82-2-7592389
Web: www.daewoo.com
Quote Symbol - Exchange
047050 - Korea
Stock Exchange
Sales KRW(mil): 16,111,806.0
Assets KRW(mil): 5,651,661.0
Employees: 1,805
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous
Capital Goods
Incorporation Date: 27-Dec-2000
Company Type: Public
Subsidiary
Quoted Status: Quoted
President, Co-Chief
Executive Officer, Director:Jae Yong Kim
Company Web Links
· Corporate History/Profile
· Financial Information
· Home Page
· Investor Relations
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Market Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3504 - Motor Vehicle New Parts Wholesaling
3322 - Metal and Mineral Wholesaling
3419 - Other Specialised Industrial Machinery and Equipment
Wholesaling
3494 - Other Electrical and Electronic Goods Wholesaling
3323 - Industrial and Agricultural Chemical Product Wholesaling
NACE 2002 Codes:
5143 - Wholesale of electrical household appliances and radio and
television goods
5152 - Wholesale of metals and ores
5155 - Wholesale of chemical products
5030 - Sale of motor vehicle parts and accessories
5187 - Wholesale of other machinery for use in industry, trade and
navigation
NAICS 2002 Codes:
424690 - Other Chemical and Allied Products Merchant Wholesalers
423620 - Electrical and Electronic Appliance, Television, and Radio
Set Merchant Wholesalers
423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers
42351 - Metal Service Centers and Other Metal Merchant Wholesalers
423830 - Industrial Machinery and Equipment Merchant Wholesalers
US SIC 1987:
5064 - Electrical Appliances, Television and Radio Sets
5013 - Motor Vehicle Supplies and New Parts
5084 - Industrial Machinery and Equipment
5169 - Chemicals and Allied Products, Not Elsewhere Classified
5051 - Metals Service Centers and Offices
UK SIC 2003:
5030 - Sale of motor vehicle parts and accessories
5143 - Wholesale of electrical household appliances and radio and
television goods
5155 - Wholesale of chemical products
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5152 - Wholesale of metals and ores
Business
Description
Daewoo
International Corporation is a Korea-based company specialized in the provision
of trade services. The Company operates its business mainly through three
divisions: trade, manufacture and department store. The Trade business division
is involved in the international trading of steel products, metals, machinery,
chemical products, automobile components, electronics, textiles, apparels,
steel raw materials, non-ferrous metals and others in Asia, Africa, Oceania,
North America, Middle and south America and Europe. The Manufacture business
division operates a textile factory in Busan, Korea. The Department Store
business division operates Masan Daewoo Department Store, based in Gyeongnam
Province, Korea. As of December 31, 2010, the Company had 58 affiliated
companies. For the three months ended 31 March 2011, Daewoo International
Corporation's total revenue increased 25% to W4.576T. The Company's net income
decreased 88% to W3.69B. Revenues reflect higher foreign sales of finished
goods, and domestic sales of merchandises. Net income suffered from decreased
gain on foreign exchange translation and decreased interest income, as well as
decreased gain on disposal of tangible assets.
More Business
Descriptions
International
trade in the areas of steel, metal, chemicals, automotive and component,
machinery and plant, media and electronics, textiles, commodities and energy.
Management services including corporate restructuring and finance.
Daewoo
International Corporation (South Korea) is primarily a general trading company,
but is also involved in the worldwide construction and civil engineering
business. The company's main focus is on the manufacture of motor cars, heavy
equipment, shipbuilding and construction.
All Other Specialty Trade Contractors
Brand/Trade Names
DAEWOO
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Equity and Dept
Distribution:
All financials
reflect consolidated results. '05 differential dividends to major shareholders.
03/01, IPO. 12/06 is CLA. '12/08, stock dividend(F: 1.03). 12/09,
1.00:0.03,stock dividend(F:1.030000).
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Daewoo International Corporation |
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
Daewoo
International Corporation (Daewoo) is a diversified company, engaged in the
business of trading, manufacturing and distribution of wide range of products
portfolio. The company has a diversified operations and a strong global presence.
It is experiencing weak liquidity position and declining operating margin over
the year. The Myanmar gas facility development along wit the secured financing
of the company has proved to be an opportunity for the company to increase its
operations. However, adverse macro economic factors and price competitions pose
a threat for the company.
Strengths
Efficient Use of Resources
The company's
return on equity (ROE) was 9.4% for fiscal year 2009. This was above the
S&P 500 companies average* of 4.5%. A higher than S&P 500 companies
average* ROE indicates that the company is efficiently using the shareholders'
money and that it is generating high returns for its shareholders compared to
other companies in the S&P 500 index. Net income for the company increases
to KRW 131366.16 million in 2009 from KRW 85815.54 million in 2008. Return on
Asset for the company also increases to 2.798 in 2009 as compared to 2.468 in
2008.
Diversified Business Operations
The company
diversified operation in different activity in different sector including
steel, metal, chemical, automotive and component,machinery and industrial
plants, media and electronics, textiles, commodity and energy, and IT
businesses. Its stable business portfolio includes international trade, project
organizing, energy & resource development, and overseas investment. The
company is participating in numerous business operations through its five
business groups, namely, Business Group I that is Steel Division and is engaged
in the import and export window of hot-rolled steel products manufactured by
POSCO, Business Group II which is Machinery & Plant Division, Business
Group III that is the Steel Raw Materials Division, Energy & Resources
Development Group, and Domestic Business. The company's diversified business
operations minimizing its business risks rather than depending upon single
product demand and also has additional advantage to serve numerous markets.
Global Network
The company strong
global network across the various market give it a strategic advantage. Its
market presence include Asia, Europe, Central and South America, North America,
Africa and Middle East. As of April 2009, the company has 111 overseas units in
52 countries along with 55 branches, 41 subsidiaries, and 15 resource projects.
Further, it has 6,000 buyers & sellers in 180 countries. Daewoo global
presence enables the company to cater to a wider market and thus mitigate the
risk associated with the geographical concentration.
Expanding Market
Share in Sector
The company's
compounded annual growth rate (CAGR) for revenue was 19.57% during 2005-2009.
This was above the S&P 500 companies average* of 12.74%. A higher than
S&P 500 companies average* revenue CAGR indicates that the company has
outperformed the average S&P 500 companies growth and gained market share
over the last four years. The company may have achieved this growth due to
better competitive positioning or superior products and services offering
compared to other companies in the S&P 500 index.
Weaknesses
Limited Operating Margin
The company's
operating margin was 1.36% for the fiscal year 2009. This was below the S&P
500 companies average* of 7.26%. A lower than S&P 500 companies average*
operating margin indicates inefficient cost management by the company. However,
the company's operating margin has increased 29 bps over 2008 which indicates
that the management has been focusing on profitability.
Limited Liquidity
Position
The company's
current ratio was 1.16 at the end of fiscal year 2009. This was below the
S&P 500 companies average* of 1.46. A lower than S&P 500 companies
average* current ratio indicates that the company is in a weaker financial
position than other companies in the S&P 500 index. Cash and cash
equivalents for the company has increased to KRW 975047.46 million in 2009 from
KRW 324222.15 million in 2008.
Opportunities
Secured Financing
Daewoo
International has ongoing development plans which need financing inhouse and
from external sources. The company has procured syndicate loan or corporate
financing from financial institutions and also tie ups with Insurance company
as credit risk offset by Overseas Investment Insurance. For the Mynamar Gase
Feilds, the company has expected a pre production capex of USD 1.7 billion
which includes production platform, offshore pipeline and onshore pipeline. The
company's borrowing has increased to Wb 811.3 billion in 2008 from Wb 439.6
billion in 2008. The secured financing ensures the successsful completion of
development programs of the company.
Myanmar gas facility development
Hyundai Heavy
Industries Co., Ltd. (Hyundai Heavy Industries) has signed the contract for
SHWE project in Myanmar with Daewoo International Corporation on February 23,
2010. The Hyundai Heavy Industries, will build a 40,000-ton class offshore gas
platform, a subsea production system, subsea pipelines, an onshore gas
terminal, a jetty and a supply base. The project will be completed by March
2013.The SHWE Project is for development of Block A-1 and Block A-3 at Bengal
Bay, 70km west of Myanmar. At present it is developing gas fields in Block A-1
(51% interest) and A-3(51%) in Myanmar offshore basin. Further, it also owns
100% exploration interest in the AD-7 block. The company is anticipated to
commence production by 2012.Moreover,Daewoo International Corporation (Daewoo)
led consortium will invest KRW4 trillion (USD 3.2 billion) for the development
of Myanmar gas fields. This will allow the consortium in supplying natural gas
to China National Petroleum Corporation (CNPC) for 30 years, with a highest
daily production of 500 million cubic feet, or about 3.8 million tonnes per
annum. The supplies amounts to around 7% of China's current gas consumption of
7.3 billion cubic feet per day and is expected to increase rapidly.These
ongoing projects will fetch good returns for the company and help the company
to enhance the partnership between Hyundai Heavy Industries Co.
Improving E&P Investments
Investment in
upstream oil and gas sector is expected to go up in 2010. Growth in E&P
expenditure would benefit international energy services companies such as
Daewoo international corporation. In addition, new oil and gas developments
will focus on deep water, subsea, arctic regions and oil sands in the near
future. Increased drilling activities would help in improving the demand for
energy services.The past few years have seen significant volatility in
commodity prices and financial markets. As a result, capital expenditure by oil
and gas companies has witnessed a significant decrease in 2009 after surging
from 2007 to 2008. With oil prices stabilizing at USD 60-USD 80 per barrel, and
as governments’ intervention in economy across the globe takes effect, oil
and gas companies are expected to increase investments in 2010.
Threats
Volatile Oil Markets
The company
operates in a volatile market environment with geopolitical concerns and demand
for oil in emerging economies including China, India and other non-OECD
countries, which have resulted in tighter oil supplies. Further, events in
Nigeria, Venezuela, Iran and Iraq have resulted in uncertainty of crude oil
supply in recent times. Lack of balance between OPEC and non-OPEC production
has resulted in the volatility. Other matters of concern are transportation
fuel prices relative to crude price as a result of refinery outages in the US,
and a cold winter in southern hemisphere.
Fluctuation in the Oil and Gas Prices
For the past one
year, oil and gas industry has witnessed a heavy fluctuation in the prices of
oil and gas. This has impacted the revenue,profitability and rate of growth of
the company.so to many extent company growth is dependent on external factors
like international price of crude oil.During 2009, the average market price of
oil and natural gas retreated from high prices in 2008. The natural gas price
dropped from an average of USD 13.28/mmbtu as on July 1, 2008, to USD
3.82/mmbtu as on June 25, 2009. Moreover, the Company extensive global presence
and involvement in Import and export activities might have forced company to
enter into currency forward contracts and commodity futures contracts with The
Korea Development Bank and other financial institutions to hedge against
foreign exchange risks and inventory price risks. Any such volatility in oil
prices would adversely affect the company's results of operations, financial
condition, and future growth rate.
Intense
Competition
Daewoo
international corporation has operational presence in electronic devices
retailing segment. Daewoo operated electronic retailing business is facing
severe price competition. This price competition pressure results from low-cost
manufacturers of Asia regions, especially China and growing competitors in
neighbouring countries. The increasing price competition shows negative impact
on profit margins.
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 59 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Pohang-Si, Kyongsangbuk-Do |
Korea, Republic of |
Iron and Steel |
52,442.1 |
16,516 |
|
|
Subsidiary |
Incheon, Gyeongsangbuk-do |
Korea, Republic of |
Construction Services |
5,394.8 |
3,555 |
|
|
Subsidiary |
Santiago |
Chile |
Construction Services |
110.0 |
200 |
|
|
Subsidiary |
Ho Chi Minh, Ho Chi Minh |
Viet Nam |
Miscellaneous Fabricated Products |
|
187 |
|
|
Subsidiary |
Sungnam-Si, Kyeonggi-Do |
Korea, Republic of |
Engineering Consultants |
717.9 |
2,230 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Miscellaneous Capital Goods |
13,934.2 |
1,805 |
|
|
Subsidiary |
Bukhara |
Uzbekistan |
Textiles - Non Apparel |
|
9,237 |
|
|
Subsidiary |
Kawasan Berikat Nusantara, Jakarta |
Indonesia |
Miscellaneous Capital Goods |
|
1,000 |
|
|
Subsidiary |
Sandton |
South Africa |
Construction Services |
329.0 |
100 |
|
|
Subsidiary |
Makati , Metro Manila |
Philippines |
Miscellaneous Capital Goods |
310.0 |
100 |
|
|
Branch |
Jakarta, West Java |
Indonesia |
Consumer Financial Services |
271.0 |
100 |
|
|
Branch |
Taipei |
Taiwan |
Consumer Financial Services |
1.0 |
100 |
|
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Subsidiary |
New Delhi |
India |
Consumer Financial Services |
1.0 |
35 |
|
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Branch |
Qingdao |
China |
Electronic Instruments and Controls |
1.0 |
30 |
|
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Branch |
Shanghai |
China |
Consumer Financial Services |
|
24 |
|
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Subsidiary |
Samobor |
Croatia |
Auto and Truck Manufacturers |
89.0 |
23 |
|
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Subsidiary |
Singapore |
Singapore |
Electronic Instruments and Controls |
474.0 |
12 |
|
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Branch |
Dalian |
China |
Electronic Instruments and Controls |
1.0 |
8 |
|
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Subsidiary |
Ciudad de Panamá |
Panama |
Consumer Financial Services |
|
8 |
|
|
Subsidiary |
Agrate Brianza, Milano (Milan) |
Italy |
Miscellaneous Capital Goods |
199.3 |
7 |
|
|
Subsidiary |
São Paulo |
Brazil |
Electronic Instruments and Controls |
|
6 |
|
|
Branch |
Madrid |
Spain |
Electronic Instruments and Controls |
|
5 |
|
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Branch |
Sandton |
South Africa |
Electronic Instruments and Controls |
|
3 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Financial Services |
438.0 |
|
|
|
Branch |
Osaka |
Japan |
Electronic Instruments and Controls |
1.0 |
40 |
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Textiles - Non Apparel |
1.0 |
|
|
|
Subsidiary |
Tehran |
Iran |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tunis |
Tunisia |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Algiers |
Algeria |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Luanda |
Angola |
Water Transportation |
|
|
|
|
Subsidiary |
Bad Homburg |
Germany |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Alimos |
Greece |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Rabat |
Morocco |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Lumpini, Pathumwan, Bangkok |
Thailand |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tashkent |
Uzbekistan |
Construction Services |
|
|
|
|
Subsidiary |
Fergana |
Uzbekistan |
Apparel and Accessories |
|
|
|
|
Subsidiary |
Pohang-si, Kyungsangbuk-do |
Korea, Republic of |
Construction - Raw Materials |
653.9 |
1,311 |
|
|
Subsidiary |
Pohang, Kyongsangbuk-do |
Korea, Republic of |
Miscellaneous Fabricated Products |
|
1,172 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Iron and Steel |
|
602 |
|
|
Subsidiary |
Pohang-si, Kyungbook |
Korea, Republic of |
Iron and Steel |
866.4 |
337 |
|
|
Subsidiary |
Bhubaneswar |
India |
Iron and Steel |
1.0 |
250 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Business Services |
|
153 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Miscellaneous Capital Goods |
1,274.6 |
125 |
|
|
Subsidiary |
ChangWon-Si, Gyeongsangnam-do |
Korea, Republic of |
Iron and Steel |
150.5 |
98 |
|
|
Subsidiary |
Muang Chon Buri, Chonburi |
Thailand |
Construction - Supplies and Fixtures |
|
40 |
|
|
Subsidiary |
Hong Kong, Hong Kong |
Hong Kong |
Miscellaneous Fabricated Products |
|
15 |
|
|
Subsidiary |
Sydney, NSW |
Australia |
Miscellaneous Capital Goods |
231.8 |
8 |
|
|
Subsidiary |
Vancouver, BC |
Canada |
Metal Mining |
1.0 |
5 |
|
|
Subsidiary |
Pohang |
Korea, Republic of |
Scientific and Technical Instruments |
254.1 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Iron and Steel |
11.7 |
|
|
|
Subsidiary |
Osaka |
Japan |
Iron and Steel |
1.0 |
|
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Miscellaneous Financial Services |
1.0 |
|
|
|
Subsidiary |
Dalian |
China |
Iron and Steel |
1.0 |
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Iron and Steel |
1.0 |
|
|
|
Subsidiary |
Pohang |
Korea, Republic of |
Iron and Steel |
1.0 |
|
|
|
Subsidiary |
Beijing |
China |
Iron and Steel |
1.0 |
|
|
|
Subsidiary |
Suzhou, Jiang Su |
China |
Iron and Steel |
0.0 |
|
|
|
Subsidiary |
Sunchon, Chonnam-do |
Korea, Republic of |
Recreational Activities |
|
|
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Miscellaneous Fabricated Products |
|
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Executives Report
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Significant Developments
Daewoo International Corporation Decides Issuance of Commercial Paper
Jul 22, 2011
Daewoo
International Corporation announced that it has decided to issue KRW 100
billion worth of commercial paper, to secure short-term operation funds.
Daewoo
International Corporation to Acquire PT. Bio Inti Agrindo (Indonesia)
Apr 26, 2011
Daewoo
International Corporation announced that it will acquire 8,500 shares of PT.
Bio Inti Agrindo, an Indonesia-based agriculture company, representing an 85%
stake, for KRW 56,988,750,000, to produce crude palm oil. The transaction will
be settled on December 31, 2018.
Daewoo
International Corporation Announces Changes in Shareholding Structure
Apr 11, 2011
Daewoo
International Corporation announced that National Pension Service has acquired
6,260,179 shares of the Company, representing a 6.10% stake.
Daewoo
International Corporation Announces Lawsuit Filed by France-based Company
Mar 29, 2011
Daewoo
International Corporation announced that a France-based company has filed a
lawsuit against the Company, claiming for KRW 114,085,184,604 in return of
damage payment.
Daewoo
International Corporation Adjusts Conversion Price of Fourth Convertible Bonds
Mar 18, 2011
Daewoo
International Corporation announced that it has adjusted the conversion price
of its fourth convertible bonds to KRW 31,269 from KRW 31,450 per share,
effective March 18, 2011.
Daewoo International
Corporation Declares Annual Cash Dividend for FY 2010
Jan 14, 2011
Daewoo
International Corporation announced that it has declared an annual cash
dividend of KRW 200 per share of common stock to shareholders of record on
December 31, 2010, for the fiscal year 2010. The dividend rate of market price
is 0.6% and the total amount of the cash dividend is KRW 20,210,927,200. The
Company's annual cash dividend for the fiscal year 2009 was KRW 50 per share.
Daewoo
International Corporation to Establish JV in China
Oct 14, 2010
Daewoo
International Corporation announced that it will establish a China-based joint
venture, South-East Asia Gas Pipeline Company Limited. (Hong Kong) with SEAP
and five other companies, to participate on the performance of South-East Asia
Gas Pipeline's organization. The new entity will be mainly engaged in the gas
transmission. The Company will invest KRW 84,520,699,493 to hold a 25.041%
stake in the new venture.
Daewoo
International Corporation Announces Changes of Largest Shareholder
Sep 24, 2010
Daewoo
International Corporation announced that POSCO has acquired 68,681,566 shares,
or 68.15% of the Company, from Korea Asset Management corporation and eight
related parties. After the transaction, POSCO becomes the largest shareholder
of the Company, replacing Korea Asset Management corporation. POSCO currently
holds 68,681,566 shares, or 68.15% of the Company.
Daewoo
International Corporation Announces Changes in Shareholding Structure
Sep 03, 2010
Daewoo
International Corporation announced that POSCO and its one related party have
acquired 68,681,566 shares of the Company, representing a 68.15% stake.
Daewoo
International Corporation and POSCO Enter Agreement for Acquisition of the
Company
Aug 30, 2010
Daewoo International
Corporation announced that the Company and POSCO have entered into an agreement
for acquisition of the Company.
Vehicle assembling
racket busted in Kottawa
Sri Lanka Daily
Mirror: 22 August 2011
[What follows is
the full text of the news story.]
Sri Lanka, Aug. 22 -- Six suspects were arrested and 13 vehicles worth
around Rs.9 million were seized when the Special Task Force (STF) raided an
illicit vehicle assembly plant in Makumbura, Kottawa.
The suspects had imported vehicle spare parts to evade customs tariffs
and later had been assembling vehicles, especially jeeps.
They have also
prepared forged vehicle registration books before selling the vehicles. The STF
also found seven jeeps which were being assembled at the time of the raid.
The STF found a
black Allion, a Nissan Double Cab, a Daewoo jeep, a Mazda Buddy truck, a Nissan
car and a Mitsubishi Pajero. All of these vehicles were assembled and completed
at the time of the raid.
They were
residents of the same area and had been operating the business for a
considerable period.
The suspects were
arrested following information gathered from the area and based on a tip off to
the STF intelligence.
The STF handed
over the suspects to the Homagama police and they were now investigating to
recover more vehicles that were robbed by the suspects. Published by HT
Syndication with permission from Daily Mirror Sri Lanka. For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
Sri Lanka Daily Mirror: 21 August 2011
[What follows is the full text of the news story.]
Sri Lanka, Aug. 21
-- Six suspects were arrested and 13 vehicles worth around Rs.9 million were
seized when the Special Task Force (STF) raided an illegal vehicle assembly
plant in Makumbura, Kottawa.
The suspects had
imported vehicle spare parts to evade custom tariffs and then had been
assembling vehicles, especially jeeps. They have also prepared forge vehicle
registration books before selling the vehicles.
The STF found a
black Allion, a Nissan Double Cab, a Daewoo jeep, a Mazda Buddy truck, a Nissan
car and a Mitsubishi Pajero. All of these vehicles were assembled and completed
at the time of the raid.
They also found
regulators, gas tanks, oxygen tanks, carbon tanks and nineteen spares belonging
to different types of vehicles worth around an additional Rs.5 million apart
from the total amount of the assembled vehicles seized.
They are residents
of the same area and had been operating the illegal business for a considerable
time period. The suspects were arrested following information gathered from the
area and based on a tip-off to the STF intelligence, carried out the raid.
The STF handed
over the suspects to the Homagama police and they are now investigating to
recover more vehicles that have been robbed by the suspects.
The STF is also
looking to find out other charges that are under the name of the suspects based
on information gathered from further questioning of the suspects. (Supun Dias)
Published by HT Syndication with permission from Daily Mirror Sri Lanka. For
any query with respect to this article or any other content requirement, please
contact Editor at htsyndication@hindustantimes.com
BRIEF: Hit-and-run suspect faces charges
Jamestown Sun, The (ND): 20 August 2011
[What follows is the full text of the news story.]
Aug. 20--The
alledged driver in a hit-and-run accident earlier this month is facing four
charges, according to the Jamestown Police Department.
The crash happened
around 3:40 a.m.Aug. 5 near the 1,000 block of Fifth Avenue Southeast.
Mark Schrenk, 25,
Fifth Ave. SE, was driving a 2005 Daewoo northbound when he struck a parked
1993 Chevrolet, which in turn struck a parked 1992 Ford, according to the
police report.
Schrenk fled the
scene but left his vehicle, police said.
There was $4,500
in damage to the Daewoo, $4,500 to the Chevrolet and $250 to the Ford.
Schrenk was cited
for careless driving, duty upon striking unattended vehicle, failed to give
immediate notice of crash and driving without insurance.
___
To see more of The
Jamestown Sun, or to subscribe to the newspaper, go to
http://www.jamestownsun.com.
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Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
Sharp looks give citycar lot of Spark
South Wales Evening Post (Wales): 19 August 2011
[What follows is the full text of the news story.]
THE burgeoning
citycar market could well be a happy hunting ground for Chevrolet and its
Spark. Steve Walker takes a look.
Having wowed motor
show crowds with its hydrogen fuel cell-powered Volt, Chevrolet's attempt to
grab a piece of the citycar action is called the Spark. Don't expect too much
by way of groundbreaking design or next generation propulsion systems though.
The Spark is far more traditional in its approach than its electrically-charged
colleague, the key advantage it does have being that you can actually buy one.
Chevrolet has stuck to the basics with the Spark citycar, endowing it with
strong safety credentials, reasonable economy and a very attractive list price.
The attractive styling should also get it noticed in an increasingly congested
marketplace.
Chevrolet's
efforts to grow its profile in the UK market were hindered from the outset by
its reliance on ex-Daewoo models. Trying to make the best of a cheap and not
particularly cheerful model range that had already been intensively marketed as
the lowest expense, lowest involvement way into a functioning new car proved
challenging. Where the famous American brand has been able to put its own stamp
on its products, the signs have been much more encouraging. The Captiva 4x4 and
Cruze saloon both have something to be said for them and the Spark, a compact
citycar with MPV tendencies that replaces the long-serving Matiz, is another
model for which there are high hopes.
Spark customers
don't get any pricey diesel options, but they do have a couple of small petrol
engines to choose from. The 1.0-litre unit develops 67bhp and for more
performance, there's an 80bhp 1.2-litre. These are modern powerplants with
alloy cylinder heads, double overhead camshafts and four valves per cylinder. A
multi-port fuel injection system works to optimise the combustion process,
getting the maximum for each drop of unleaded. A five-speed manual gearbox
comes as standard on all the Spark models.
The Spark is
clearly designed for travel through the modern urban landscape with all its
restrictions on available space. As is the style with modern citycars, the
wheels are pushed right out to the four corners of the vehicle to produce the
biggest possible interior within the car's small footprint but also to create a
tight turning circle to boost manoeuvrability.
The Spark is
3,640mm long and 1,597mm wide, so it's less dinky than committed citycars like
the smart fortwo or Toyota iQ but on a par with other models like the Ford Ka
and Citroen C1, which still attempt to offer a realistic four-person capacity
with a usable boot. There's a definite MPV aspect to the Spark's shape, with
its flat sides and high roofline helping to make even more of the space
available. It's far from frumpy though, with huge headlights, a narrow glass
area and a deep front bumper that curves around the car's nose, blending with
the bulbous wheel arches. A jagged "lightning bolt" line cut into the
flank is the signature styling feature.
The cabin area has
some engaging features like the instrument cluster that sits on top of the
steering column which takes its design inspiration from that of a motorcycle.
Small and
economical looks like being the prevailing mantra for the car market in the
foreseeable future. There's a lot of interesting and innovative stuff happening
with citycars and small MPV-type vehicles as manufacturers respond to demand
for shrinkage in the cost, emissions and dimensions of what we drive. The
Chevrolet Spark is another contender in this market. There's nothing particularly
groundbreaking about it, but with sharp looks and low costs it should be in
with a shout.
Five dead, one injured in car crash near Moscow
(adds) 18/8 Tass 467
Itar-Tass: 18 August 2011
[What follows is the full text of the news story.]
MOSCOW, August 18
(Itar-Tass) -- Five persons died and one more was injured in a traffic accident
in the town of Taldom near Moscow, local traffic police told Itar-Tass on
Thursday.
"Two cars, a
Daewoo Nexia and a VAZ-2110, collided on a highway linking Moscow and Dubna.
Four persons from the Daewoo car and one from the VAZ-2110 died instantly, two
VAZ passengers were injured," police said.
An investigation
is underway.
According to
preliminary information, one of the two drives lost control of the vehicle and
went off his lane.
The two injured
persons were taken to a hospital in Taldom.
-0-ras
Death on the Hume
Daily Telegraph (Sydney, Australia): 18 August 2011
[What follows is the full text of the news story.]
A PASSENGER died
when the car he was in hit an oncoming vehicle as it was overtaking a truck
yesterday.
A Holden Commodore
with three men inside was travelling on the Hume Highway near Holbrook, in the
state's southwest, when it hit the driver's side of a Daewoo hatchback driving
south about 7am.
The Daewoo was in
the overtaking lane, passing a semi-trailer, when it was hit and pushed into
the truck.
The front-seat
passenger in the Commodore, a man aged about 30, died at the scene. The driver
and a rear-seat passenger, both men in their early 20s, suffered serious
injuries.
DEFENSE MINISTRY OFFERS TO SELL ARMAMENTS TO
PHILIPPINES
Antara (Indonesian National News Agency): 17 August
2011
[What follows is the full text of the news story.]
Malang, E Java,
Aug 18 (ANTARA): The Defense Ministry has offered to sell Indonesian-made
armaments to the Philippines, a ministry official said.
The Philippines
had positively responded to the offer by placing an order for a number of
armaments, the head of defence technology subdirectorate at the Defence
Ministry, Col. Taufik Arief said here on Thursday.
The armaments
included a CN 235 passenger plane made by PT Dirgantara Indonesia, Landing
Platform Dock (LPD) ship produced by PT PAL and ammunition and assault rifles
produced by PT Pindad, he said.
"The fact
that another country is interested in buying our armaments proves that our
domestic defense industry is reliable," he said.
He said both sides
had signed a purchase deal with the first delivery to be made in September.
"The the
neighboring country has placed the order for a number of armaments to support
its air, land and sea defense systems," he said.
The order was also
made as part of a commitment made in the ASEAN defense industry committee an
intra-ASEAN cooperation, he said.
"In the
committee, all ASEAN member states had committed themselves to supportinh each
other's defence industry, including the purchase deal between Indonesia and the
Philippines," he said.
To produce the LPD
ship, PT PAL would cooperate with Daewoo of South Korea, he said.
"We will deliver
(the LPD ship and armaments) in stages. We will deliver the ship first,"
he said.
(THROUGH ASIA
PULSE)
18-08 2011
Akerson Among Speakers at MLK Memorial Unveiling
Automotive
China Weekly News: 17 August 2011
[What follows is the full text of the news story.]
WASHINGTON, D.C. -
On the 48th anniversary of Martin Luther King, Jr.'s "I Have a Dream"
speech, history will be made on the National Mall. After more than 20 years in
development, the Martin Luther King, Jr. National Memorial will be unveiled and
General Motors Chairman and CEO Dan Akerson will be among the speakers at the
dedication ceremony.
The General Motors
Foundation and Chevrolet, long time partners in this historic endeavor, will
serve as the Dedication Chair and have contributed more the $10 million to its
development.
General Motors
(NYSE:GM, TSX: GMM), one of the world's largest automakers, traces its roots
back to 1908. With its global headquarters in Detroit, GM employs 208,000
people in every major region of the world and does business in more than 120
countries. GM and its strategic partners produce cars and trucks in 30
countries, and sell and service these vehicles through the following brands:
Baojun, Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Isuzu, Jiefang, Opel,
Vauxhall, and Wuling. GM's largest national market is China, followed by the
United States, Brazil, the United Kingdom, Germany, Canada, and Italy. GM's
OnStar subsidiary is the industry leader in vehicle safety, security and
information services. More information on the new General Motors can be found
at www.gm.com.
Bulletproofing Transmission Durability Through
Woodward
General Motors
China Weekly News: 17 August 2011
[What follows is the full text of the news story.]
Woodward Avenue
became the first concrete highway in the world in 1909. Three years later, the
first electric traffic light was installed on the road that runs from downtown
Detroit to downtown Pontiac.
A lesser known
historical fact is that Woodward Avenue driving styles have helped improve
transmission durability by inspiring a test procedure based on the rigors of
strip driving.
GM sent engineers
to Woodward Avenue as early as 1967 to simulate some of the tortures placed on
manual transmissions and "street" testing has become the norm. The
test procedure combines elements of the worst-case shifting style of some
manual transmission customers, including repeated high-torque launches and
high-rev shifts.
"We've been
evolving the Woodward test to make sure our transmissions live through repeated
performance-style shifting," said Brad Bur, GM assistant chief engineer
for manual transmissions. "Of course we encourage safe driving, but we
know burnouts and quick shifting are the reality. We have to design and
engineer our transmissions to succeed in every possible scenario, including the
street."
Transmission
components like clutches and gears have been dramatically improved over the
years through tests like the Woodward test, which is responsible for a nearly
600-percent increase in flawless transmission shift cycles.
"This is one
of the ways we are able to offer one of the best powertrain warranties in the
business," said Bur. "We use this test on all our performance manual
transmissions like those found in the Chevrolet Corvette and Camaro."
Woodward Avenue is
home of the Dream Cruise, a vintage car cruise that dates to the cruising
heydays of the 1950s and 1960s. It takes place along Woodward Avenue in Detroit
and its northern suburbs. The Dream Cruise routinely gathers more than 1.5
million participants and spectators to celebrate the automotive heritage of the
Motor City.
General Motors
(NYSE: GM, TSX: GMM), one of the world's largest automakers, traces its roots
back to 1908. With its global headquarters in Detroit, GM employs 208,000 people
in every major region of the world and does business in more than 120
countries. GM and its strategic partners produce cars and trucks in 30
countries, and sell and service these vehicles through the following brands:
Baojun, Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Isuzu, Jiefang, Opel,
Vauxhall, and Wuling. GM's largest national market is China, followed by the
United States, Brazil, the United Kingdom, Germany, Canada, and Italy. GM's
OnStar subsidiary is the industry leader in vehicle safety, security and
information services. More information on the new General Motors can be found
at www.gm.com.
Designers Not Alone in GM 3D Rapid Prototyping
Innovation
Automotive
China Weekly News: 17 August 2011
[What follows is the full text of the news story.]
Skilled trades
seek out new ways to produce test parts faster and at lower cost
*Lab technicians
devise material recycling system and method to join larger parts
WARREN, Mich. -
The three-dimensional rapid prototyping technology that lets designers and
engineers fabricate almost anything they can imagine has led the skilled trades
technicians who work in the shop around the clock six days a week to
innovations of their own.
The lab
technicians, members of United Auto Workers Local 160, can directly transfer
digital designs for just about any part on a car or truck to the selective
laser sintering (SLS) or stereo lithography (SLA) machines that generate parts
in hours without any dedicated tooling.
The only
limitation beyond a designer's imagination is the physical size of the
machines. Parts being generated must be no larger than the 500 x 500 x 750
millimeter dimensions of the fabrication chambers that contain the powered
plastic or liquid resin.
No problem for
smaller pieces like interior trim or parts for a one-third scale model to be
tested in GM's wind tunnel. As part orders come in from GM design and
engineering facilities around the world, technicians use a graphical design
program to arrange computer models of the parts within the envelope of the
chamber to maximize the output of every batch.
"As long as
the parts aren't touching, we can keep filling the envelope," said
technician Timothy Breault. "When we get hot orders for parts that are
small enough, we can even add them on the fly to the top of a build that is
already in progress."
Larger parts
suitable for full-scale wind tunnel testing, such as the lower front splitter
for the 2013 Camaro ZL1, require a different approach. In this case, the lab
techs developed a mechanism that would allow the joining of multiple smaller
pieces to make one larger part. As they prepare build sets, larger parts can
now be sliced into multiple smaller sections that fit within the RP machines.
Thanks to the precise forming that is possible with RP manufacturing,
integrated lap joints with a series of matching holes can be generated so that
no drilling is required for assembly.
After the parts
cool, the segments are temporarily connected with standard Cleco expanding
fasteners while being assembled. The technicians also devised standard joining
pins that are produced in the RP machine from the same material as the rest of
the part. Pins are snipped off, glued into the holes and then trimmed with a
rotary tool. The rapid prototyping machines produce parts to such precise
tolerances that virtually no trimming or filling is required and the seams are
almost invisible.
"Things that
we do now within a day or two days, would take months to build by hand,"
said Michael Marchwinski, a lab technician who began his career at GM Design 28
years ago as an apprentice wood model maker.
Using rapid
prototyping to produce parts invariably saves tens of thousands of dollars and
weeks of time compared to traditional methods. The technicians came up with a
way to save even more by reusing some of the raw material. Traditionally, only
virgin resins were used for rapid prototyping, but the technicians developed a
recycling process for the powered SLS material.
The shop staff
worked with 3D Systems, the equipment supplier, to extract a portion of the
used material and return it to the delivery vessels where it is blended with
virgin material for future use.
The 15-person
staff that operates the Warren 3D Rapid Prototype Lab was recruited from a
variety of GM operations.
"When I came
into skilled trades in 1995, they had just started opening up a program where
new apprentices would be trained on the whole Tech Center site, learning many
different skills," said lab technician Thomas Kelley. "Thanks to my
training in several areas, Superintendant John Green thought I would be a good
fit here."
The RP team is
constantly on the lookout for ways to improve efficiency and produce better
quality parts. "We're really dedicated to what we are doing, we all enjoy
the work and we want to see a good product come out," said Marchwinski.
About General
Motors - General Motors (NYSE:GM, TSX: GMM), one of the world's largest
automakers, traces its roots back to 1908. With its global headquarters in
Detroit, GM employs 208,000 people in every major region of the world and does
business in more than 120 countries. GM and its strategic partners produce cars
and trucks in 30 countries, and sell and service these vehicles through the
following brands: Baojun, Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden,
Isuzu, Jiefang, Opel, Vauxhall, and Wuling. GM's largest national market is
China, followed by the United States, Brazil, the United Kingdom, Germany,
Canada, and Italy. GM's OnStar subsidiary is the industry leader in vehicle
safety, security and information services. More information on the new General
Motors can be found at www.gm.com
CHINA,MONGOLIA,RUSSIAN FEDERATION : Group of
companies to create develop the largest coal deposits in Mongolia
TendersInfo News
06 July 2011
[What follows is the full text of the article.]
A group of
companies directed by Russia has became one of the preliminary winners to
create Mongolia's largest coal field Tavan-Tolgoi.
Peabody Energy
also turned into a preliminary winner, including a joint venture between Chinese
Shenhua and Japanese Mitsui.
The group includes
state-owned company Russian Railways, Japanese companies Itochu, Sumitomo,
Marubeni, Sojitz and Korean POSCO, KEPCO, LG Corp and Daewoo International.
The government of
Mongolia expects that all the preliminary winners will create Tavan-Tolgoi.
TendersInfo News
Related Companies
· Peabody Energy Corp [profile]
· Posco [profile]
Related Geographies
· Asia
· Europe
· China
· Japan
· Mongolia
· Russian Federation
AUSTRALIA,KOREA, REPUBLIC OF : Whitehaven to assess
offers for its acquisition
TendersInfo News
15 April 2011
[What follows is the full text of the article.]
Whitehaven, among
the last of the coal mining companies running their operations independently in
Australia, was announced for sale in October 2010. On 7 February 2011,
Whitehaven revealed that it had got several non-binding indicative proposals
and that a few of those making offers had been asked to submit an elaborated
due diligence and binding proposal description.
In its statement,
the company explained, "Whitehaven is now in discussions with a number of
these parties to determine which proposal, if any, will be recommended by the
board. These discussions may or may not result in a final proposal being
recommended by the board."
Among those making
bids for Whitehaven are South Korea's state-run Korea Resources Corp, which had
given its initial bid for Whitehaven, along with Daewoo International Corp.
Whitehaven Coal is estimated to be worth $US3.5 billion ($A3.35 billion), as
per a figure given by Korea Resources.
Related Companies
· Daewoo International Corportion [profile]
Related Geographies
· Asia
· Australasia
· Australia
· South Korea
-Korea Resources and Daewoo International withdraw
bid for Whitehaven Coal Ltd
International Resource News (IRN)
09 March 2011
[What follows is the full text of the article.]
International
Resource News-March 9, 2011--Korea Resources and Daewoo International withdraw
bid for Whitehaven Coal Ltd(C)1994-2011 ENPublishing -
http://www.enpublishing.co.uk
International
Resource News - 09 March 2011
South Korea-based
Korea Resources Corporation (Kores) and Daewoo International Corporation
(047050.SE) have announced that their consortium has withdrawn its bid for
Australia-based Whitehaven Coal Ltd (ASX: WHC).
A Kores spokesman
stated that the firm had withdrawn its bid for the Australian company to
concentrate on other businesses.
Daewoo
International also stated that it has withdrawn its bid for the Australian
firm.
[Editorial queries
for this story should be sent to irn@enpublishing.co.uk]
((Distributed via M2 Communications -
http://www.m2.com)).END.PUB430>PDMarch 9, 2011>JNINTERNATIONAL RESOURCE
NEWS.PRICEDATENOT APPLICABLE.DAY
Related Companies
Daewoo
International Corportion [profile]
Related Geographies
Australasia
Australia
BANGLADESH : Imported buses to alleviate traffic
problems in Dhaka
TendersInfo News
11 February 2011
[What follows is the full text of the article.]
With a view to
encourage citizens to travel in buses instead of private cars, the Bangladeh
Road Transport Corporation (BRTC) has purchased two hundred and fifty five
compressed natural gas (CNG) buses from Korea.
The state owned
BRTC had previously bought a hundred CNG buses from Dongfeng Yangtse Company
Ltd of China, which has won an award, at a price of Tk 325 million, nearly 70%
less than the actual cost of Tk 900 million. These buses were part of an
ambitious government programme to give a cheap and environmentally safe mode of
transportation to citizens.
Now BRTC is to pay
Daewoo International Corporation, a Korean trading firm, $29.9 million to
import 255 compressed natural gas (CNG) run buses. The agreement stipulates
that BRTC will purchase n??????r? spare ??rt? as well in six to eight months
after the opening letter of credit (L/C). Iqbal, the chairman of BRTC, said,
"Th??? luxury buses will be superior to the existing buses running in the
city, w? are importing these buses with a view to encourage people to travel in
buses r?th?r than private cars." The government will restrict the use of
private cars on roads to ensure that buses are adopted as a means of transport
by the public.
TendersInfo News
Related Companies
Daewoo
International Corportion [profile]
Transport Corp of
America Inc [profile]
Related Geographies
Asia
Bangladesh
Related Industries
1321 Natural gas
liquids
Oil & Gas
Operations [profile]
11100 Extraction
of crude petroleum and natural gas
1512 Petroleum
Exploration Services
BANGLADESH : Daewoo inks a $30 million contract to
supply buses to Bangladesh
TendersInfo News
06 January 2011
[What follows is the full text of the article.]
Korea based Daewoo
International Corporation a trading firm announced that it has entered into a
$30 million contract to deliver buses powered by compressed natural gas to Bangladesh.
Daewoo
International as per the agreement with the Bangladesh Road Transport
Corporation it will ship 255 CNG buses and required spare parts by July.
Daewoo said that
Korea s Economic Development Cooperation Fund has partially financed the deal.
Daewoo further
added that it will also deliver 50,000 tons of wheat to Bangladesh.
Daewoo
International Corporation emerged as a company dedicated to international
trading and investment when the international trading and construction sector
of Daewoo Corporation was spun off into three (3) companies: Daewoo
International Corporation, Daewoo Engineering & Construction Company
Limited and Daewoo Corporation.
Daewoo
International Corporation, which plays a significant role as a driving force
for trading and overseas investments of Korea, is deploying a variety of
businesses in diverse areas including international trading, manufacturing,
sales, and resource development with approximately 6,000 customers by
collecting and utilizing the optimum information using the global business
networks.
Related Companies
Daewoo
International Corportion [profile]
Related Geographies
Asia
Bangladesh
CHINA : Daewoo China merges with Daewoo
International
TendersInfo News
04 January 2011
[What follows is the full text of the article.]
Daewoo China, the
Chinese affiliate of South Korean Daewoo International will be combined with
the company s Beijing office in 2011. The awaiting merger will allow the
company to be effectively participated in businesses in the country northern
China with Beijing as its center, central China with Guangzhou and southern
China with Shanghai as its hub.
Local offices of
foreign companies can only carry out business in dollars under Chinese law. So
they cannot purchase or trade products in Chinese RMB. Since trading companies
such as Daewoo International agreement with a high volume of products in order
to earn higher profits, the unification will let the company to earn more by
handling higher volumes.
Daewoo
International is a 68.15% stake associate of South Korean steel titan POSCO. It
is primarily occupied in the trading of steel, machinery and crude oil. Daewoo
International is now operating four investment corporations, two trade
corporations, 13 offices and other subsidiaries in China, with its Guangzhou
office incorporated in 2009.
Related Companies
Daewoo
International Corportion [profile]
Posco [profile]
Related Geographies
Asia
China
CHINA : Daewoo International to merge with
subsidiary Daewoo-China
TendersInfo News
31 December 2010
[What follows is the full text of the article.]
In 2011,
Daewoo-China, the Chinese partner of South Korean Daewoo International will be
amalgamating with the company's Beijing office.
Daewoo
International a 68.15 percent-stake partner of South Korean steel titan POSCO,
is mostly concerned in the trading of steel, machinery and crude oil. Daewoo
International with its Guangzhou office incorporated in 2009 is presently
running four investment corporations, two trade corporations with 13 offices
and other subsidiaries in China.
As per POSCO the
pending merger will facilitate the company to be more actively occupied in
businesses in the country; northern China with Beijing as its center, central
China with Guangzhou, and southern China with Shanghai as its hub.
As per Chinese
regulation local offices of foreign companies can only carry out business in
dollars, so they cannot market products in Chinese RMB. While trading companies
such as Daewoo International contract with a high volume of products in order
to earn higher profits, the amalgamation will allow the company to earn more by
handling higher volumes.
Related Companies
Daewoo
International Corportion [profile]
Posco [profile]
Related Geographies
Asia
China
INDONESIA,KOREA, DEMOCRATIC PEOPLE'S REPUBLIC
OF,KOREA, REPUBLIC OF : Daewoo International inked a deal with the Indonesian
Defense Ministry worth $700 Million
TendersInfo News
01 December 2010
[What follows is the full text of the article.]
Daewoo
International inked a deal with the Indonesian Defense Ministry to supply $700
million worth of 6x6 light-armored vehicles to the Indonesian Army. The
production will start at Doosan DST. The contract is likely to enhance
opportunities for POSCO export light-armored vehicles in the international
arena, particularly in the Asian and Latin American countries.
In a different
contract, Daewoo International also contracted to supply $800 million worth of
Type-209 submarines to the Indonesian Navy and $400 million worth of basic
training aircraft to the Indonesian Air Force. Daewoo International was taken
over by POSCO in September 2010, for a value of KRW 3.37 trillion. The purchase
price was 2.5% lower than POSCO s original offer of KRW 3.46 trillion. POSCO,
by means of the acquisition, aimed at growing its business in unexplored areas,
securing a stable procurement of raw materials, and further strengthening its
foothold in the overseas markets.
POSCO s recent
collaborations are (Krakatau Steel), acquistions (Daewoo International), and
increasing independency in raw material procurement (stake acquisition in
Australia s iron ore and coal mines) are very liable to be the company s prime
growth drivers.
TendersInfo News
Related Companies
Daewoo
International Corportion [profile]
Posco [profile]
Related Topics
Mergers and
Acquisitions
Related Geographies
Asia
Indonesia
Related Industries
1241 Coal mining
services Coal
10100 Mining and
agglomeration of hard coal
1500 Services to
Mining
Kazakhstan : POSCO and Zamans Dual Enterprise
TendersInfo News
25 October 2010
[What follows is the full text of the article.]
Largest Korean
steelmaker POSCO and Kazakhstan-based ZAMAN Group entered into an agreement to
build a ferro-silicon aluminum (FeSiAl) plant in Ekibastuz, Kazakhstan.
The memorandum of
agreement signed requires the formation of a joint venture with POSCO s
materials unit Samjung P&A which will hold 60% interest, while the Zaman
Group will hold the rest 40%. Construction of the plant is expected to
consummate in 2011 and commercial production should begin by 2012. Staring with
45,000 tons per year, the plant will eventually have an annual production
capacity of 0.4 million tons of ferro-silicon aluminum products in the year
ahead.
Ferro-silicon
aluminum is used as a deoxidizer of molten steel and is an important ingredient
for making high-quality steel. Through this venture, POSCO aims at securing a
stable ferro-silicon aluminum supply, thus curtailing its heavy reliance on
imports from China.
We believe POSCO
is well positioned to leverage from its expansion into the fast-growing markets
over the long run. Its joint venture with Krakatau Steel, acquistion of Daewoo
International, and stake acquisition in Australia s iron ore and coal mines
will be prime growth drivers.
With the global
economy reviving from the recent crisis, demand for steel is seen to be
escalating. POSCO anticipates that steel demand would grow in 2010 to 13%
worldwide, with an expected 22% increase for the domestic market.
Also, the future
of the world steel market depends substantially on the Chinese market, as the
country s demand alone accounts for approximately 45% of the global demand.
However, the ongoing restructuring (restriction on power consumption and shut
down of old plants) in the Chinese steel industry has raised hopes for other
steel makers.
We currently
maintain a Neutral recommendation on POSCO for the long term. For the short
term, the company has a Zacks #3 Rank (Hold).
Related Companies
Daewoo
International Corportion [profile]
Posco [profile]
Related Topics
Corporate
Ownership
Joint
Ventures/Partnerships
Related Geographies
Asia
Europe
China
Kazakhstan
Related Industries
1241 Coal mining
services
Coal [profile]
10100 Mining and
agglomeration of hard coal
1500 Services to
Mining
Annual Income Statement
|
Financials in: USD (mil) Except for share items (millions) and per share
items (actual units) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
Revenue |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
Total Revenue |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
13,114.6 |
8,408.1 |
9,666.8 |
8,229.4 |
6,605.1 |
|
Cost of Revenue, Total |
13,114.6 |
8,408.1 |
9,666.8 |
8,229.4 |
6,605.1 |
|
Gross Profit |
819.6 |
636.1 |
715.5 |
612.2 |
564.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
512.6 |
513.1 |
604.0 |
521.7 |
466.8 |
|
Labor & Related Expense |
132.5 |
- |
- |
- |
- |
|
Advertising Expense |
9.4 |
- |
- |
- |
- |
|
Total Selling/General/Administrative Expenses |
654.4 |
513.1 |
604.0 |
521.7 |
466.8 |
|
Research & Development |
0.3 |
- |
- |
- |
- |
|
Depreciation |
6.3 |
- |
- |
- |
- |
|
Amortization of Intangibles |
1.5 |
- |
- |
- |
- |
|
Depreciation/Amortization |
7.8 |
- |
- |
- |
- |
|
Total Operating Expense |
13,777.0 |
8,921.3 |
10,270.9 |
8,751.1 |
7,071.9 |
|
|
|
|
|
|
|
|
Operating Income |
157.1 |
122.9 |
111.4 |
90.5 |
97.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-44.0 |
-38.2 |
-10.5 |
-35.8 |
-36.5 |
|
Interest Expense, Net Non-Operating |
-44.0 |
-38.2 |
-10.5 |
-35.8 |
-36.5 |
|
Interest Income -
Non-Operating |
8.2 |
10.0 |
11.4 |
13.9 |
16.8 |
|
Investment Income -
Non-Operating |
314.1 |
310.5 |
205.0 |
203.1 |
192.6 |
|
Interest/Investment Income - Non-Operating |
322.3 |
320.5 |
216.4 |
217.0 |
209.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
278.2 |
282.3 |
205.9 |
181.2 |
173.0 |
|
Gain (Loss) on Sale of Assets |
-230.1 |
-215.8 |
-255.4 |
-135.4 |
-106.1 |
|
Other Non-Operating Income (Expense) |
-113.8 |
-45.6 |
26.5 |
-2.0 |
2.8 |
|
Other, Net |
-113.8 |
-45.6 |
26.5 |
-2.0 |
2.8 |
|
Income Before Tax |
91.4 |
143.8 |
88.4 |
134.3 |
167.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
-11.5 |
41.3 |
16.9 |
29.5 |
49.7 |
|
Income After Tax |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
|
|
|
|
|
|
|
Minority Interest |
3.2 |
0.4 |
6.5 |
4.3 |
-0.1 |
|
Net Income Before Extraord Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
100.8 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Basic EPS Excl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Basic/Primary EPS Incl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Diluted Weighted Average Shares |
100.9 |
100.9 |
100.9 |
101.0 |
101.0 |
|
Diluted EPS Excl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Diluted EPS Incl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Dividends per Share - Common Stock Primary Issue |
0.17 |
0.04 |
0.04 |
0.36 |
0.30 |
|
Gross Dividends - Common Stock |
17.5 |
3.8 |
4.3 |
35.8 |
29.8 |
|
Interest Expense, Supplemental |
44.0 |
38.2 |
10.5 |
35.8 |
36.5 |
|
Interest Capitalized, Supplemental |
-19.1 |
-15.9 |
-15.6 |
-4.3 |
- |
|
Depreciation, Supplemental |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Total Special Items |
230.1 |
215.8 |
255.4 |
135.4 |
106.1 |
|
Normalized Income Before Tax |
321.6 |
359.6 |
343.8 |
269.7 |
273.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
80.6 |
61.9 |
49.0 |
29.8 |
31.6 |
|
Inc Tax Ex Impact of Sp Items |
69.0 |
103.2 |
65.9 |
59.3 |
81.3 |
|
Normalized Income After Tax |
252.5 |
256.4 |
277.9 |
210.3 |
191.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
255.7 |
256.8 |
284.5 |
214.6 |
191.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.54 |
2.55 |
2.82 |
2.13 |
1.90 |
|
Diluted Normalized EPS |
2.53 |
2.55 |
2.82 |
2.12 |
1.90 |
|
Amort of Intangibles, Supplemental |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Rental Expenses |
13.2 |
11.5 |
12.0 |
13.4 |
- |
|
Advertising Expense, Supplemental |
9.4 |
6.7 |
11.7 |
3.3 |
- |
|
Research & Development Exp, Supplemental |
0.3 |
0.4 |
0.3 |
0.4 |
0.2 |
|
Normalized EBIT |
157.1 |
122.9 |
111.4 |
90.5 |
97.3 |
|
Normalized EBITDA |
188.5 |
151.8 |
144.3 |
126.0 |
119.8 |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
374.2 |
837.3 |
257.4 |
242.1 |
148.0 |
|
Short Term Investments |
29.5 |
12.3 |
21.7 |
91.6 |
143.0 |
|
Cash and Short Term Investments |
403.7 |
849.6 |
279.1 |
333.7 |
291.0 |
|
Accounts Receivable -
Trade, Gross |
972.4 |
655.1 |
541.4 |
506.1 |
592.6 |
|
Provision for Doubtful
Accounts |
-43.0 |
-37.5 |
-39.6 |
-44.7 |
-47.2 |
|
Trade Accounts Receivable - Net |
930.7 |
620.5 |
501.9 |
463.2 |
545.9 |
|
Other Receivables |
103.1 |
36.4 |
45.2 |
42.2 |
47.9 |
|
Total Receivables, Net |
1,033.7 |
656.9 |
547.1 |
505.4 |
593.8 |
|
Inventories - Finished Goods |
669.2 |
289.4 |
262.0 |
238.1 |
256.9 |
|
Inventories - Work In Progress |
15.2 |
14.0 |
15.8 |
18.8 |
15.9 |
|
Inventories - Raw Materials |
41.7 |
30.4 |
38.7 |
41.2 |
26.1 |
|
Inventories - Other |
258.0 |
91.6 |
89.5 |
122.8 |
128.0 |
|
Total Inventory |
984.1 |
425.3 |
406.0 |
420.9 |
426.8 |
|
Prepaid Expenses |
4.8 |
13.3 |
11.3 |
12.4 |
8.6 |
|
Deferred Income Tax - Current Asset |
37.2 |
32.3 |
47.0 |
38.2 |
35.0 |
|
Other Current Assets |
74.3 |
45.9 |
27.0 |
13.1 |
14.1 |
|
Other Current Assets, Total |
111.5 |
78.2 |
74.0 |
51.3 |
49.1 |
|
Total Current Assets |
2,537.9 |
2,023.4 |
1,317.6 |
1,323.7 |
1,369.3 |
|
|
|
|
|
|
|
|
Buildings |
282.3 |
273.0 |
260.9 |
290.5 |
270.6 |
|
Land/Improvements |
75.3 |
73.7 |
25.8 |
34.2 |
33.5 |
|
Machinery/Equipment |
383.6 |
473.4 |
461.2 |
476.3 |
408.6 |
|
Construction in
Progress |
26.3 |
5.4 |
0.4 |
1.0 |
4.2 |
|
Property/Plant/Equipment - Gross |
767.6 |
825.5 |
748.4 |
802.0 |
716.9 |
|
Accumulated Depreciation |
-281.8 |
-260.6 |
-241.7 |
-244.2 |
-214.9 |
|
Property/Plant/Equipment - Net |
485.8 |
564.9 |
506.7 |
557.9 |
502.0 |
|
Goodwill, Net |
0.0 |
0.1 |
0.3 |
0.6 |
0.8 |
|
Intangibles, Net |
150.2 |
61.7 |
64.2 |
45.7 |
46.7 |
|
LT Investment - Affiliate Companies |
1,128.5 |
866.5 |
490.8 |
649.8 |
486.7 |
|
LT Investments - Other |
91.4 |
73.2 |
58.1 |
65.0 |
44.2 |
|
Long Term Investments |
1,219.8 |
939.7 |
548.9 |
714.9 |
530.8 |
|
Note Receivable - Long Term |
57.7 |
30.1 |
1.5 |
26.5 |
0.0 |
|
Deferred Income Tax - Long Term Asset |
5.1 |
2.3 |
0.2 |
0.1 |
0.0 |
|
Other Long Term Assets |
523.3 |
410.1 |
321.1 |
281.5 |
210.4 |
|
Other Long Term Assets, Total |
528.4 |
412.3 |
321.2 |
281.5 |
210.4 |
|
Total Assets |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,022.6 |
1,021.2 |
575.7 |
660.6 |
606.0 |
|
Accrued Expenses |
24.2 |
9.9 |
9.5 |
18.2 |
49.1 |
|
Notes Payable/Short Term Debt |
770.0 |
525.8 |
568.0 |
364.6 |
241.4 |
|
Current Portion - Long Term Debt/Capital Leases |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Dividends Payable |
- |
- |
- |
0.0 |
1.5 |
|
Customer Advances |
67.2 |
72.5 |
53.0 |
36.5 |
38.3 |
|
Security Deposits |
2.7 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Income Taxes Payable |
4.5 |
10.3 |
30.8 |
0.4 |
14.8 |
|
Other Current Liabilities |
108.2 |
88.7 |
87.4 |
60.8 |
152.1 |
|
Other Current liabilities, Total |
182.7 |
171.7 |
171.4 |
97.8 |
206.8 |
|
Total Current Liabilities |
2,346.4 |
1,744.7 |
1,356.0 |
1,218.0 |
1,133.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
813.0 |
682.1 |
222.2 |
280.2 |
376.6 |
|
Capital Lease Obligations |
33.1 |
39.2 |
55.8 |
58.8 |
0.0 |
|
Total Long Term Debt |
846.2 |
721.2 |
278.0 |
339.0 |
376.6 |
|
Total Debt |
1,963.1 |
1,263.0 |
877.4 |
780.5 |
648.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
118.7 |
112.1 |
36.8 |
77.2 |
41.7 |
|
Deferred Income Tax |
118.7 |
112.1 |
36.8 |
77.2 |
41.7 |
|
Minority Interest |
3.4 |
8.4 |
9.1 |
16.2 |
17.6 |
|
Reserves |
115.3 |
101.6 |
101.4 |
101.3 |
95.9 |
|
Pension Benefits - Underfunded |
9.2 |
0.8 |
0.9 |
0.2 |
0.2 |
|
Other Long Term Liabilities |
144.2 |
150.0 |
139.1 |
149.9 |
28.7 |
|
Other Liabilities, Total |
268.7 |
252.5 |
241.4 |
251.5 |
124.7 |
|
Total Liabilities |
3,583.3 |
2,838.9 |
1,921.3 |
1,901.9 |
1,694.4 |
|
|
|
|
|
|
|
|
Common Stock |
445.2 |
420.1 |
377.1 |
507.4 |
510.7 |
|
Common Stock |
445.2 |
420.1 |
377.1 |
507.4 |
510.7 |
|
Additional Paid-In Capital |
21.9 |
16.5 |
1.1 |
1.4 |
1.4 |
|
Retained Earnings (Accumulated Deficit) |
673.2 |
567.5 |
435.5 |
535.2 |
458.7 |
|
Unrealized Gain (Loss) |
201.1 |
139.1 |
-24.1 |
9.1 |
12.9 |
|
Translation Adjustment |
55.5 |
49.8 |
48.8 |
-5.4 |
-16.4 |
|
Other Equity |
-0.3 |
0.3 |
0.7 |
1.2 |
-1.7 |
|
Other Equity, Total |
55.2 |
50.1 |
49.5 |
-4.2 |
-18.1 |
|
Total Equity |
1,396.6 |
1,193.3 |
839.0 |
1,048.9 |
965.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Total Common Shares Outstanding |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
1,796 |
1,431 |
1,486 |
1,494 |
1,503 |
|
Number of Common Shareholders |
45,691 |
40,785 |
37,135 |
44,406 |
38,819 |
|
Deferred Revenue - Current |
67.2 |
72.5 |
53.0 |
36.5 |
38.3 |
|
Total Long Term Debt, Supplemental |
763.8 |
281.2 |
275.3 |
397.6 |
469.3 |
|
Long Term Debt Maturing within 1 Year |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Long Term Debt Maturing in Year 2 |
34.5 |
44.2 |
56.8 |
63.7 |
101.6 |
|
Long Term Debt Maturing in Year 3 |
69.3 |
46.5 |
37.8 |
67.5 |
56.9 |
|
Long Term Debt Maturing in Year 4 |
118.0 |
62.5 |
36.3 |
41.4 |
60.8 |
|
Long Term Debt Maturing in Year 5 |
68.1 |
41.0 |
34.9 |
41.7 |
34.8 |
|
Long Term Debt Maturing in 2-3 Years |
103.7 |
90.7 |
94.6 |
131.2 |
158.6 |
|
Long Term Debt Maturing in 4-5 Years |
186.1 |
103.5 |
71.3 |
83.1 |
95.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
127.0 |
71.1 |
78.0 |
106.4 |
184.6 |
|
Total Operating Leases, Supplemental |
- |
- |
0.0 |
0.1 |
- |
|
Operating Lease Payments Due in Year 1 |
- |
- |
0.0 |
0.1 |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
- |
- |
0.0 |
0.0 |
- |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
Depreciation |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Depreciation/Depletion |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Amortization of Intangibles |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Amortization |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Deferred Taxes |
-22.5 |
35.1 |
-30.0 |
23.8 |
24.7 |
|
Unusual Items |
176.1 |
43.5 |
76.1 |
62.3 |
31.8 |
|
Equity in Net Earnings (Loss) |
-171.3 |
-119.8 |
-64.3 |
-116.2 |
-107.4 |
|
Other Non-Cash Items |
40.3 |
54.2 |
60.1 |
14.3 |
-11.3 |
|
Non-Cash Items |
45.2 |
-22.1 |
72.0 |
-39.6 |
-86.8 |
|
Accounts Receivable |
-371.1 |
-136.5 |
-223.4 |
58.6 |
-11.8 |
|
Inventories |
-522.6 |
23.1 |
-118.8 |
8.4 |
-120.1 |
|
Prepaid Expenses |
3.9 |
0.1 |
-0.5 |
2.5 |
5.0 |
|
Other Assets |
23.8 |
39.5 |
32.0 |
4.5 |
-17.3 |
|
Accounts Payable |
-17.6 |
396.2 |
84.7 |
45.0 |
41.5 |
|
Accrued Expenses |
6.7 |
4.7 |
-4.7 |
-52.0 |
-1.0 |
|
Taxes Payable |
-6.0 |
-20.8 |
34.0 |
-14.6 |
12.5 |
|
Other Liabilities |
-12.5 |
-8.5 |
29.1 |
-11.7 |
26.0 |
|
Other Operating Cash Flow |
55.3 |
39.1 |
46.8 |
26.7 |
14.2 |
|
Changes in Working Capital |
-840.1 |
337.0 |
-120.8 |
67.3 |
-51.0 |
|
Cash from Operating Activities |
-683.0 |
481.3 |
25.4 |
191.7 |
26.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-53.6 |
-50.3 |
-10.4 |
-10.0 |
-8.0 |
|
Purchase/Acquisition of Intangibles |
-209.1 |
-112.4 |
-136.1 |
-110.7 |
-75.0 |
|
Capital Expenditures |
-262.7 |
-162.7 |
-146.5 |
-120.7 |
-83.0 |
|
Sale of Fixed Assets |
24.7 |
0.8 |
1.9 |
9.3 |
7.9 |
|
Sale/Maturity of Investment |
18.4 |
27.1 |
376.5 |
211.5 |
157.1 |
|
Purchase of Investments |
-155.1 |
-115.1 |
-371.0 |
-263.0 |
-103.7 |
|
Sale of Intangible Assets |
- |
2.0 |
- |
- |
- |
|
Other Investing Cash Flow |
-20.0 |
10.1 |
-2.1 |
-3.9 |
-2.2 |
|
Other Investing Cash Flow Items, Total |
-132.0 |
-75.1 |
5.3 |
-46.1 |
59.1 |
|
Cash from Investing Activities |
-394.7 |
-237.8 |
-141.1 |
-166.8 |
-23.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-6.6 |
-46.2 |
-36.8 |
4.2 |
-41.9 |
|
Financing Cash Flow Items |
-6.6 |
-46.2 |
-36.8 |
4.2 |
-41.9 |
|
Total Cash Dividends Paid |
-4.2 |
-3.7 |
-30.2 |
-4.9 |
-2.1 |
|
Short Term Debt Issued |
227.3 |
- |
294.3 |
129.6 |
196.8 |
|
Short Term Debt
Reduction |
-3.3 |
-83.8 |
- |
- |
-167.4 |
|
Short Term Debt, Net |
224.0 |
-83.8 |
294.3 |
129.6 |
29.4 |
|
Long Term Debt Issued |
397.3 |
437.7 |
24.0 |
12.8 |
4.6 |
|
Long Term Debt
Reduction |
-5.1 |
-34.5 |
-50.9 |
-71.7 |
-44.3 |
|
Long Term Debt, Net |
392.2 |
403.2 |
-26.9 |
-58.9 |
-39.7 |
|
Issuance (Retirement) of Debt, Net |
616.3 |
319.4 |
267.4 |
70.6 |
-10.2 |
|
Cash from Financing Activities |
605.5 |
269.4 |
200.4 |
69.9 |
-54.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.8 |
-3.2 |
3.8 |
0.7 |
0.5 |
|
Net Change in Cash |
-476.0 |
509.8 |
88.5 |
95.5 |
-50.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
843.3 |
254.2 |
206.2 |
148.8 |
195.7 |
|
Net Cash - Ending Balance |
367.3 |
764.0 |
294.8 |
244.3 |
144.7 |
Annual Income Statement
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
Total Revenue |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
13,114.6 |
8,408.1 |
9,666.8 |
8,229.4 |
6,605.1 |
|
Selling/General/Adm. |
- |
513.1 |
604.0 |
521.7 |
466.8 |
|
Salaries & Wages |
99.0 |
- |
- |
- |
- |
|
Salaries & Retirement Allowance |
11.3 |
- |
- |
- |
- |
|
Employee Benefits |
22.2 |
- |
- |
- |
- |
|
Compensation Expenses Associated with St |
0.0 |
- |
- |
- |
- |
|
Travel Expense |
9.4 |
- |
- |
- |
- |
|
Communication Expense |
3.7 |
- |
- |
- |
- |
|
Utility Expenses |
0.9 |
- |
- |
- |
- |
|
Taxes & Dues |
8.7 |
- |
- |
- |
- |
|
Rental Expenses |
13.2 |
- |
- |
- |
- |
|
Depreciation |
6.3 |
- |
- |
- |
- |
|
Amortization of Intangible Assets |
1.5 |
- |
- |
- |
- |
|
Expenses of Allowance for Doubtful Accou |
7.2 |
- |
- |
- |
- |
|
Repair Expenses |
1.1 |
- |
- |
- |
- |
|
Insurance Expense |
14.3 |
- |
- |
- |
- |
|
Entertainment Expenses |
2.6 |
- |
- |
- |
- |
|
Advertising Expenses |
1.9 |
- |
- |
- |
- |
|
Packaging Expense |
0.2 |
- |
- |
- |
- |
|
Freight Expenses |
318.7 |
- |
- |
- |
- |
|
Export Expenses |
25.0 |
- |
- |
- |
- |
|
Commissions |
92.8 |
- |
- |
- |
- |
|
Supply Expenses |
1.5 |
- |
- |
- |
- |
|
Vehicle Maintenance Expenses |
3.2 |
- |
- |
- |
- |
|
Publication Expenses |
0.6 |
- |
- |
- |
- |
|
Training Expenses |
1.1 |
- |
- |
- |
- |
|
Development Expenses |
0.3 |
- |
- |
- |
- |
|
Sales Promotional Expenses |
7.4 |
- |
- |
- |
- |
|
Expo Exspenses |
0.3 |
- |
- |
- |
- |
|
Sample Expenses |
2.6 |
- |
- |
- |
- |
|
Miscellaneous Expenses |
2.5 |
- |
- |
- |
- |
|
Other Selling and Administrative Expense |
3.0 |
- |
- |
- |
- |
|
Adjustment |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
13,777.0 |
8,921.3 |
10,270.9 |
8,751.1 |
7,071.9 |
|
|
|
|
|
|
|
|
Interest Income |
8.2 |
10.0 |
11.4 |
13.9 |
16.8 |
|
Dividend Income |
1.9 |
0.1 |
1.9 |
5.6 |
2.6 |
|
Rental Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
G-Tang Asst Disposal |
0.9 |
0.6 |
0.2 |
0.3 |
0.1 |
|
Recovery-Contingency Loss Reserve |
6.4 |
4.6 |
- |
0.5 |
0.0 |
|
G-Currency Contract Settlement Valuation |
- |
- |
3.4 |
- |
- |
|
Gain-Commodity Futures Transaction |
156.2 |
128.3 |
169.1 |
96.7 |
76.9 |
|
G-Commodity Future Valu |
19.2 |
15.7 |
11.9 |
4.7 |
5.5 |
|
G-Currency Futr Trade |
145.2 |
90.0 |
130.5 |
30.1 |
31.7 |
|
G-Currency Futr Valu |
25.6 |
16.0 |
10.4 |
3.7 |
4.1 |
|
G-Inv.Asset Disposal |
- |
12.4 |
9.6 |
13.6 |
10.9 |
|
Gain-Foreign Exchange Transaction |
367.9 |
318.2 |
508.6 |
102.1 |
95.3 |
|
Gain-Foreign Currency Translation |
37.4 |
37.7 |
97.7 |
21.1 |
27.8 |
|
Revers-Doubtful Acct |
0.3 |
3.0 |
2.1 |
0.0 |
1.4 |
|
Fees Received |
0.0 |
1.7 |
0.9 |
0.6 |
0.9 |
|
Gain-Valuation of Contracts-Settlement |
113.7 |
69.3 |
- |
- |
- |
|
Gain-Merchandise Settlement Valuation |
- |
- |
62.5 |
32.3 |
12.0 |
|
Gain on disposal of Subsidiaries |
- |
4.8 |
- |
- |
- |
|
Other Non-Operating Income |
1.8 |
4.6 |
33.3 |
7.7 |
11.6 |
|
Interest Expense, Non-Operating |
-44.0 |
-38.2 |
-10.5 |
-35.8 |
-36.5 |
|
L-Trade Rcvbl Disposal |
-45.6 |
-51.3 |
-64.0 |
-45.9 |
-45.0 |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
-4.7 |
0.0 |
|
Loss-Valuation of Inventories |
- |
-0.6 |
-6.0 |
-0.4 |
-0.5 |
|
L-Tang.Asst Disposal |
-0.2 |
-0.1 |
-0.4 |
-0.1 |
-1.7 |
|
Loss-Reduction of Tangible Assets |
-109.0 |
-0.6 |
-6.3 |
-0.7 |
- |
|
L-Commodity Futures Valu |
-46.8 |
-29.6 |
-34.1 |
-11.9 |
-9.4 |
|
L-Currency Futures Trade |
-143.8 |
-69.1 |
-123.6 |
-57.7 |
-24.7 |
|
L-Commodity Futures Trade |
-185.2 |
-164.9 |
-191.3 |
-89.7 |
-59.4 |
|
L-Currency Futr Valu |
-18.0 |
-20.7 |
-13.8 |
-3.4 |
-6.0 |
|
Loss-Foreign Exchange Transaction |
-368.3 |
-335.0 |
-568.8 |
-91.9 |
-104.7 |
|
Loss-Foreign Currency Translation |
-35.6 |
-31.0 |
-78.2 |
-23.2 |
-10.6 |
|
Loss-Reduction of Investment Assets |
-2.9 |
-15.1 |
-3.2 |
- |
- |
|
Loss-Disposal of Investment Assets |
-1.6 |
-1.1 |
- |
-0.4 |
-0.2 |
|
L-Liab.Redemption |
- |
-0.6 |
-0.1 |
-0.1 |
-0.6 |
|
L-Merchandise Settlement Valuation |
- |
- |
-24.5 |
-28.9 |
-25.6 |
|
Other Amortization |
-13.6 |
-23.2 |
-0.3 |
0.0 |
-1.2 |
|
Donations Paid |
-1.2 |
-1.6 |
-0.6 |
-0.4 |
-0.3 |
|
Reserve-Recovery |
-0.2 |
-0.1 |
- |
- |
- |
|
Contingency Loss |
-15.1 |
-1.8 |
-2.4 |
-2.8 |
-2.6 |
|
L-Currency Contract Settlement Valuation |
- |
- |
-6.7 |
- |
- |
|
Loss-Valuation of Confirmed Contracts |
-85.2 |
-27.7 |
- |
- |
- |
|
Other Non-Operating Expense |
-7.2 |
-4.5 |
-6.4 |
-7.5 |
-6.4 |
|
Gain under Equity Method |
176.2 |
121.8 |
68.0 |
118.9 |
109.1 |
|
Loss under Equity Method |
-3.4 |
-0.8 |
-3.7 |
-2.2 |
-1.6 |
|
Net Income Before Taxes |
91.4 |
143.8 |
88.4 |
134.3 |
167.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-11.5 |
41.3 |
16.9 |
29.5 |
49.7 |
|
Net Income After Taxes |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
|
|
|
|
|
|
|
Minority Interest |
3.2 |
0.4 |
6.5 |
4.3 |
-0.1 |
|
Net Income Before Extra. Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
100.8 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Basic EPS Excluding ExtraOrdin |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Basic EPS Including ExtraOrdin |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Diluted Weighted Average Share |
100.9 |
100.9 |
100.9 |
101.0 |
101.0 |
|
Diluted EPS Excluding ExtraOrd |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Diluted EPS Including ExtraOrd |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
DPS-Common Stock |
0.17 |
0.04 |
0.04 |
0.36 |
0.30 |
|
Gross Dividends - Common Stock |
17.5 |
3.8 |
4.3 |
35.8 |
29.8 |
|
Normalized Income Before Taxes |
321.6 |
359.6 |
343.8 |
269.7 |
273.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
69.0 |
103.2 |
65.9 |
59.3 |
81.3 |
|
Normalized Income After Taxes |
252.5 |
256.4 |
277.9 |
210.3 |
191.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
255.7 |
256.8 |
284.5 |
214.6 |
191.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.54 |
2.55 |
2.82 |
2.13 |
1.90 |
|
Diluted Normalized EPS |
2.53 |
2.55 |
2.82 |
2.12 |
1.90 |
|
Interest Expense |
44.0 |
38.2 |
10.5 |
35.8 |
36.5 |
|
Interest Capitalized |
-19.1 |
-15.9 |
-15.6 |
-4.3 |
- |
|
Rental Expense |
13.2 |
11.5 |
12.0 |
13.4 |
- |
|
Advertising Expense |
9.4 |
6.7 |
11.7 |
3.3 |
- |
|
Research & Development, Supplemental |
0.3 |
0.4 |
0.3 |
0.4 |
0.2 |
|
Depreciation |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Amort of Intangibles, Suppleme |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
374.2 |
837.3 |
257.4 |
242.1 |
148.0 |
|
ST Finl Assets |
29.5 |
12.3 |
21.6 |
91.6 |
143.0 |
|
Marketable Secs. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
ST Loans |
3.1 |
10.4 |
13.8 |
8.9 |
2.3 |
|
Trade Rcvbls,G |
972.4 |
655.1 |
541.4 |
506.1 |
592.6 |
|
Allw-Doubtful Ac |
-43.0 |
-37.5 |
-39.6 |
-44.7 |
-47.2 |
|
Othert Rcvbls |
100.0 |
26.1 |
31.4 |
33.3 |
45.6 |
|
Advance Payments |
125.1 |
47.1 |
21.6 |
48.4 |
39.8 |
|
Prepaid Expense |
4.8 |
13.3 |
11.3 |
12.4 |
8.6 |
|
Guarantee Deposit |
1.5 |
0.3 |
0.6 |
0.5 |
0.3 |
|
Currency Futures |
28.6 |
17.7 |
9.1 |
3.7 |
4.2 |
|
Accrued Income |
1.3 |
2.8 |
0.1 |
1.8 |
0.5 |
|
Other Quick Asst |
- |
- |
- |
1.1 |
0.1 |
|
Commodity Futures |
19.6 |
17.2 |
10.4 |
4.6 |
5.7 |
|
Deferred Income Tax |
37.2 |
32.3 |
47.0 |
38.2 |
35.0 |
|
Contracts on Settlement |
24.6 |
10.7 |
- |
- |
- |
|
Merchandise Contracts on Settlement |
- |
- |
5.6 |
3.1 |
3.8 |
|
Currency Contracts on Settlement |
- |
- |
1.4 |
- |
- |
|
Merchandise |
646.6 |
277.3 |
244.2 |
220.9 |
229.4 |
|
Finished Goods |
22.6 |
12.0 |
17.8 |
17.3 |
27.4 |
|
Semi-finish Good |
8.6 |
8.9 |
9.9 |
11.0 |
11.6 |
|
Work in Progress |
6.6 |
5.1 |
5.9 |
7.9 |
4.3 |
|
Raw Materials |
33.5 |
23.6 |
31.9 |
33.9 |
19.0 |
|
Suppl. Material |
8.2 |
6.7 |
6.8 |
7.3 |
7.1 |
|
Supplies |
11.6 |
11.0 |
11.4 |
10.9 |
10.5 |
|
Goods in Transit |
121.3 |
33.5 |
56.5 |
63.4 |
77.8 |
|
Total Current Assets |
2,537.9 |
2,023.4 |
1,317.6 |
1,323.7 |
1,369.3 |
|
|
|
|
|
|
|
|
LT Finl Assets |
0.0 |
0.0 |
0.0 |
1.7 |
0.7 |
|
Investment Securities |
91.4 |
73.2 |
58.0 |
63.3 |
43.5 |
|
Affiliates Stocks |
1,128.5 |
866.5 |
490.8 |
649.8 |
486.7 |
|
LT Loan |
57.7 |
30.1 |
1.5 |
0.0 |
0.0 |
|
LT Account Receivable |
- |
- |
- |
26.5 |
0.0 |
|
Other Inv Assets |
- |
- |
0.1 |
0.0 |
0.0 |
|
LT Guarantee Dep |
20.4 |
16.1 |
11.6 |
15.3 |
19.4 |
|
Resourc Devt Inv |
502.9 |
394.0 |
309.5 |
266.1 |
191.0 |
|
Land |
75.3 |
73.7 |
25.8 |
34.2 |
33.5 |
|
Buildings |
267.6 |
260.3 |
251.5 |
276.8 |
256.7 |
|
Buildings-Reduction |
- |
- |
-1.8 |
- |
- |
|
Deprec-Buildings |
-56.3 |
-50.9 |
-45.2 |
-42.3 |
-34.6 |
|
Structures |
14.8 |
12.7 |
11.3 |
13.7 |
13.9 |
|
Gov't Subsidy-Structure |
-0.1 |
- |
- |
- |
- |
|
Deprec-Structure |
-3.9 |
-3.3 |
-2.6 |
-2.6 |
-2.1 |
|
Structures-Reduction |
- |
0.0 |
- |
- |
- |
|
Tools/Equipments |
4.2 |
3.3 |
3.1 |
3.6 |
4.4 |
|
Gov't Subsidy-Tools/Equip |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Depr-Tool/Equip |
-3.4 |
-2.9 |
-2.8 |
-3.1 |
-3.6 |
|
Tools & Equipments-Reduction |
- |
- |
- |
0.0 |
- |
|
Machinery/Equip. |
427.6 |
411.8 |
408.3 |
408.8 |
343.9 |
|
Gov't Subsidy-Machinery |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Reduction Loss-Machinery/Equip. |
-112.1 |
- |
-5.1 |
-1.3 |
0.0 |
|
Depr-Mach/Equip. |
-168.0 |
-159.0 |
-148.7 |
-144.0 |
-126.7 |
|
Transport Equip. |
25.1 |
23.7 |
22.1 |
23.3 |
20.9 |
|
Deprec-Transport |
-19.1 |
-17.5 |
-16.9 |
-17.4 |
-15.6 |
|
Fixtures |
38.9 |
34.7 |
32.8 |
42.0 |
39.6 |
|
Fixtures-Government Subsidy |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deprec-Fixtures |
-31.0 |
-27.1 |
-25.5 |
-34.7 |
-32.3 |
|
Ship & Airplane |
- |
- |
0.0 |
0.1 |
0.1 |
|
Dep-Ship/Airplan |
- |
- |
0.0 |
-0.1 |
-0.1 |
|
Construc in Prog |
26.3 |
5.4 |
0.4 |
1.0 |
4.2 |
|
Mining Rights |
133.6 |
45.3 |
44.1 |
27.0 |
24.1 |
|
Industrial Patnt |
16.2 |
15.2 |
18.6 |
17.0 |
17.8 |
|
Development Cost |
0.0 |
0.1 |
0.1 |
0.1 |
4.5 |
|
Other Intangible |
0.3 |
1.2 |
1.4 |
1.6 |
0.2 |
|
Deferred Income Tax, Debit |
5.1 |
2.3 |
0.2 |
0.1 |
0.0 |
|
Goodwill |
0.0 |
0.1 |
0.3 |
0.6 |
0.8 |
|
Total Assets |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
Trade Payable |
880.4 |
895.8 |
447.4 |
570.3 |
524.6 |
|
Accounts Payable |
142.2 |
125.4 |
128.3 |
90.3 |
81.4 |
|
Dividend Payable |
- |
- |
- |
0.0 |
1.5 |
|
Inc Tax Payable |
4.5 |
10.3 |
30.8 |
0.4 |
14.8 |
|
Accrued Expenses |
24.2 |
9.9 |
9.5 |
18.2 |
49.1 |
|
Advances Receivd |
67.2 |
72.3 |
52.9 |
36.4 |
38.3 |
|
Deposit Withheld |
27.3 |
28.9 |
42.4 |
45.2 |
136.3 |
|
Unearned Income |
- |
0.2 |
0.2 |
0.1 |
0.0 |
|
CL Guarnt Depo |
2.7 |
0.2 |
0.2 |
0.1 |
0.1 |
|
ST Borrowings |
770.0 |
525.8 |
568.0 |
364.6 |
241.4 |
|
CL Curr. Futures |
22.1 |
22.9 |
12.1 |
3.4 |
6.2 |
|
Advances on Confirmed Contracts |
10.8 |
4.2 |
- |
- |
- |
|
Merchand Gift |
47.7 |
32.6 |
29.8 |
11.8 |
9.6 |
|
Merchandise Advance-Confirmed Contract |
- |
- |
1.7 |
0.4 |
0.0 |
|
Currency Advance-Confirmed Contract |
- |
- |
1.3 |
- |
- |
|
Other Current Liabilities |
0.2 |
0.1 |
- |
- |
- |
|
Current LT Liab. |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Total Current Liability |
2,346.4 |
1,744.7 |
1,356.0 |
1,218.0 |
1,133.8 |
|
|
|
|
|
|
|
|
Bonds |
407.3 |
128.4 |
- |
- |
- |
|
LT Borrowings |
405.7 |
248.0 |
222.2 |
280.2 |
376.6 |
|
Capital Lease Liabilities |
33.1 |
39.2 |
55.8 |
58.8 |
0.0 |
|
Convertible Bonds |
- |
305.7 |
- |
- |
- |
|
Total Long Term Debt |
846.2 |
721.2 |
278.0 |
339.0 |
376.6 |
|
|
|
|
|
|
|
|
LT Accounts Pay |
2.1 |
3.5 |
1.8 |
5.4 |
8.8 |
|
LT Deposit Withheld |
135.6 |
140.2 |
131.4 |
135.3 |
- |
|
LT Accrued Exp |
0.0 |
0.0 |
0.0 |
1.4 |
11.8 |
|
LT Guarant Deposit |
6.4 |
6.2 |
5.8 |
7.9 |
8.0 |
|
Reserve-Sales Guarantee |
- |
1.2 |
1.3 |
0.2 |
0.1 |
|
Rsv-Contingency Loss |
111.6 |
97.0 |
98.4 |
101.1 |
95.7 |
|
Retirement Resrv |
44.8 |
37.2 |
0.9 |
0.2 |
0.2 |
|
Deposit-Retirement Insurance |
-35.3 |
-36.1 |
- |
- |
- |
|
Transfer to National Pension Fund |
-0.3 |
-0.3 |
- |
- |
- |
|
Reserve-Recovery |
3.7 |
3.4 |
1.6 |
- |
- |
|
Deferred Income Tax |
118.7 |
112.1 |
36.8 |
77.2 |
41.7 |
|
Minority Int. |
3.4 |
8.4 |
9.1 |
16.2 |
17.6 |
|
Total Liabilities |
3,583.3 |
2,838.9 |
1,921.3 |
1,901.9 |
1,694.4 |
|
|
|
|
|
|
|
|
Common Stock |
445.2 |
420.1 |
377.1 |
507.4 |
510.7 |
|
Consolidated Capital Surplus |
21.9 |
16.5 |
1.1 |
1.4 |
1.4 |
|
Consolidated Retained Earnings |
673.2 |
567.5 |
435.5 |
535.2 |
458.7 |
|
Othr Capital Adj |
-0.6 |
- |
- |
- |
-3.0 |
|
Discounts on Stock Issuance |
- |
-0.1 |
- |
- |
- |
|
Unissu Share Cap |
0.3 |
0.3 |
0.7 |
1.2 |
1.3 |
|
Capital Change, Equity Method |
126.7 |
78.7 |
13.3 |
6.7 |
38.0 |
|
G-Secs for Sale Valuation |
41.2 |
27.8 |
19.4 |
27.6 |
4.8 |
|
Negative Captial Change-Equity Method |
-3.8 |
-3.5 |
-56.8 |
-25.2 |
-29.9 |
|
Overseas Business Trans. Debit/Credit |
55.5 |
49.8 |
48.8 |
-5.4 |
-16.4 |
|
Gain-Revaluation of Tangible Assets |
37.0 |
36.1 |
- |
- |
- |
|
Total Equity |
1,396.6 |
1,193.3 |
839.0 |
1,048.9 |
965.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Total Common Shares Outstandin |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
67.2 |
72.5 |
53.0 |
36.5 |
38.3 |
|
Full-Time Employees |
1,796 |
1,431 |
1,486 |
1,494 |
1,503 |
|
Number of Common Shareholders |
45,691 |
40,785 |
37,135 |
44,406 |
38,819 |
|
Long Term Debt Maturing within 1 Year |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Long Term Debt Maturing within 2 Years |
34.5 |
44.2 |
56.8 |
63.7 |
101.6 |
|
Long Term Debt Maturing within 3 Years |
69.3 |
46.5 |
37.8 |
67.5 |
56.9 |
|
Long Term Debt Maturing within 4 Years |
118.0 |
62.5 |
36.3 |
41.4 |
60.8 |
|
Long Term Debt Maturing within 5 Years |
68.1 |
41.0 |
34.9 |
41.7 |
34.8 |
|
Long Term Debt Remaining Maturities |
127.0 |
71.1 |
78.0 |
106.4 |
184.6 |
|
Total Long Term Debt, Supplemental |
763.8 |
281.2 |
275.3 |
397.6 |
469.3 |
|
Operating Leases Due in 1 Year |
- |
- |
0.0 |
0.1 |
- |
|
Total Operating Leases |
- |
- |
0.0 |
0.1 |
- |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
Depreciation |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Amort.-Intangible |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Stock-Based
Compensations |
0.0 |
0.0 |
- |
2.0 |
6.8 |
|
Provision-Doubtful
Account |
7.2 |
14.7 |
- |
0.1 |
- |
|
Other Provisions-Doubtful
Account |
13.6 |
23.2 |
0.3 |
- |
1.2 |
|
Accrued Interest
Expense |
30.4 |
17.4 |
11.7 |
26.7 |
14.2 |
|
Provision-Sales
Guarantee |
- |
- |
1.5 |
0.1 |
0.0 |
|
Retiremt Allw
Reserv |
14.0 |
7.8 |
12.8 |
11.5 |
10.6 |
|
L-Trade Rcvbl
Disposal |
45.6 |
51.3 |
64.0 |
45.9 |
45.0 |
|
L-For Exch
Translatn |
35.6 |
17.6 |
68.0 |
17.6 |
10.3 |
|
L-Commodity
Futures Valu |
46.8 |
29.6 |
34.1 |
11.9 |
9.4 |
|
Loss-Currency
Forwards Transaction |
143.8 |
69.1 |
123.6 |
57.7 |
24.7 |
|
L-Commodity
Futures Trade |
185.2 |
164.9 |
191.3 |
89.7 |
59.4 |
|
L-Currency
Contract on Settlement Valua. |
- |
- |
6.7 |
- |
- |
|
L-Currency Futr
Valu |
18.0 |
20.7 |
13.8 |
3.4 |
6.0 |
|
Loss-Reduction of
Investment Assets |
2.9 |
15.1 |
3.2 |
- |
- |
|
Loss-Valuation of
Inventory |
0.0 |
0.6 |
6.0 |
0.4 |
0.5 |
|
L-Tangible Asst
Disp |
0.2 |
0.1 |
0.4 |
0.1 |
1.7 |
|
Loss-Reduction of
Intangible Assets |
- |
- |
- |
4.7 |
- |
|
Loss-Reduction of
Tangible Assets |
109.0 |
0.6 |
6.3 |
0.7 |
- |
|
Loss -Redemption
of LT Borrowings |
- |
0.6 |
0.1 |
0.1 |
0.6 |
|
L-Equity Method
Valu |
3.4 |
0.8 |
3.7 |
2.2 |
1.6 |
|
Loss-Investment
Assets Disposal |
1.6 |
1.1 |
- |
0.4 |
0.2 |
|
Reserve-Recovery |
0.2 |
0.1 |
- |
- |
- |
|
Loss-Valuation of
Contract on Settlement |
85.2 |
27.7 |
24.5 |
28.9 |
25.6 |
|
Contingency Loss |
15.1 |
1.8 |
2.4 |
2.8 |
2.6 |
|
Other
Non-Operating Expense |
0.3 |
0.3 |
- |
- |
- |
|
G-Commodity
Futures Valu |
-19.2 |
-15.7 |
-11.9 |
-4.7 |
-5.5 |
|
Recovery-Contingency
Loss Reserve |
-6.4 |
-4.6 |
- |
-0.5 |
- |
|
G-Currency
Contract on Settlement Valua. |
- |
- |
-3.4 |
- |
- |
|
Gain-Commodity
Futures Transaction |
-156.2 |
-128.3 |
-169.1 |
-96.7 |
-76.9 |
|
G-Currency Futr
Valu |
-25.6 |
-16.0 |
-10.4 |
-3.7 |
-4.1 |
|
Gain-Currency Forwards
Transaction |
-145.2 |
-90.0 |
-130.5 |
-30.1 |
-31.7 |
|
G-Inv.Asset Disp |
- |
-12.4 |
-9.6 |
-13.6 |
-10.9 |
|
G-Tangible Asst
Disp |
-0.9 |
-0.6 |
-0.2 |
-0.3 |
-0.1 |
|
Interest Received |
-0.8 |
-1.4 |
-1.9 |
-0.9 |
-1.2 |
|
G-Equity Method
Valu |
-176.2 |
-121.8 |
-68.0 |
-118.9 |
-109.1 |
|
Recovery-Inventory
Valuation Loss |
-0.4 |
-4.3 |
- |
-1.1 |
- |
|
G-For Exch
Translatn |
-37.3 |
-30.3 |
-85.1 |
-18.1 |
-27.1 |
|
Gain-Valuation of
Contract on Settlement |
-113.7 |
-69.3 |
-62.5 |
-32.3 |
-12.0 |
|
Recovery-Loan Loss
Reserve |
-0.3 |
-3.0 |
-2.1 |
- |
-1.4 |
|
Gain-Other
Non-Operating |
0.0 |
-3.7 |
-0.2 |
-4.3 |
-5.2 |
|
Gain on disposal
of Subsidiaries |
- |
-4.8 |
- |
- |
- |
|
Trade Receivables |
-342.9 |
-148.6 |
-211.3 |
41.3 |
-43.6 |
|
Accrued Income |
-1.3 |
0.9 |
1.6 |
-1.3 |
0.4 |
|
Account Receivable |
-26.9 |
11.2 |
-13.7 |
18.2 |
19.3 |
|
Prepaid Expenses |
3.9 |
0.1 |
-0.5 |
2.5 |
0.3 |
|
Advance Payments |
-69.7 |
0.0 |
12.5 |
-10.7 |
1.8 |
|
Prepaid Taxes |
- |
- |
- |
- |
4.7 |
|
Inventory |
-452.9 |
23.0 |
-131.2 |
19.0 |
-121.8 |
|
LT Trade Rcvbls |
- |
- |
- |
0.3 |
5.2 |
|
LT Account Rcvbls |
- |
- |
- |
- |
6.9 |
|
Merchandise
Settlement Contracts |
23.8 |
39.5 |
35.9 |
4.4 |
-17.3 |
|
Currency
Settlement Contracts |
- |
- |
-3.3 |
- |
- |
|
Deferred
Taxes-Asset |
-22.5 |
35.1 |
-30.0 |
23.8 |
24.7 |
|
Other Current
Assets |
- |
- |
-0.6 |
0.0 |
0.0 |
|
Trade Payables |
-45.8 |
403.6 |
26.3 |
28.7 |
29.6 |
|
Account Payables |
28.2 |
-7.4 |
58.4 |
16.3 |
11.9 |
|
Accrued Dividends |
- |
- |
- |
-1.7 |
-0.1 |
|
Accrued Expenses |
6.7 |
4.8 |
-3.7 |
-41.0 |
5.1 |
|
LT Accrued
Expenses |
- |
0.0 |
-1.0 |
-9.3 |
-6.0 |
|
Dividend Received
from Affiliates |
24.9 |
21.7 |
35.0 |
- |
- |
|
Accrued Inc Tax |
-6.0 |
-20.8 |
34.0 |
-14.6 |
12.5 |
|
Unearned Income |
- |
- |
0.1 |
0.2 |
-0.1 |
|
Advances Received |
-8.0 |
17.4 |
29.6 |
0.5 |
13.6 |
|
Other Current
Liabilities |
0.0 |
0.1 |
- |
- |
- |
|
Deposits Withheld |
1.5 |
-18.0 |
9.6 |
0.5 |
23.3 |
|
Reserve-Sales
Guarantee |
- |
-0.3 |
-0.1 |
-0.2 |
0.1 |
|
Nation Pension Fnd |
0.0 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Retiremt Allow
Paymt |
-7.7 |
-10.7 |
-9.8 |
-9.6 |
-8.4 |
|
Retire Deposit A/L |
1.7 |
2.7 |
-0.4 |
-3.2 |
-2.6 |
|
Reserve-Contingent
Loss |
0.1 |
0.3 |
- |
- |
- |
|
Overseas Business
Translation Debit |
-0.2 |
35.9 |
64.5 |
5.3 |
-8.0 |
|
Cash from
Operating Activities |
-683.0 |
481.3 |
25.4 |
191.7 |
26.7 |
|
|
|
|
|
|
|
|
Dec-ST Finl Asset |
4.0 |
6.0 |
59.1 |
50.3 |
5.6 |
|
Dec-ST Loans |
6.0 |
0.3 |
10.8 |
4.2 |
1.9 |
|
Decrease-LT Loans |
0.0 |
1.9 |
- |
7.0 |
- |
|
Decrease-LT
Account Receivable |
- |
5.2 |
- |
4.0 |
- |
|
Dec-Guarantee Dep |
0.8 |
2.2 |
3.3 |
6.2 |
5.4 |
|
Dec-Currency
Future |
- |
18.0 |
133.6 |
34.3 |
36.7 |
|
Dec-Future |
14.0 |
- |
- |
- |
- |
|
Dec-Marketable
Secs |
- |
0.0 |
0.0 |
0.0 |
0.7 |
|
Dec-Investment
Secs |
0.0 |
3.0 |
10.7 |
17.9 |
0.8 |
|
Disp-Equity
Investment Sec. |
0.3 |
- |
- |
6.6 |
29.3 |
|
Disp-Other
Investment Asset |
- |
0.0 |
- |
- |
0.1 |
|
Disposal-Land |
0.3 |
0.2 |
- |
- |
- |
|
Disposal of
Building |
4.1 |
0.3 |
1.6 |
2.7 |
2.4 |
|
Disp-Structure |
0.1 |
- |
- |
0.0 |
0.1 |
|
Disp-Machinery |
18.5 |
0.1 |
0.0 |
6.3 |
3.5 |
|
Disp-Vehicles |
0.6 |
0.2 |
0.2 |
0.1 |
0.8 |
|
Disposal-Tools
& Supplies |
0.5 |
0.0 |
- |
0.0 |
- |
|
Disp-Merchand
Options |
0.7 |
0.1 |
0.0 |
0.1 |
1.1 |
|
Disp-Commodity
Futures |
- |
- |
173.1 |
102.4 |
83.9 |
|
Disposal-Other
Intangible Assets |
- |
2.0 |
- |
- |
- |
|
Inc-ST Finl Asset |
-21.2 |
- |
- |
- |
- |
|
Increase-LT
Financial Assets |
- |
0.0 |
- |
- |
- |
|
Inc-ST Loans |
4.4 |
-1.6 |
-13.6 |
-9.7 |
-2.2 |
|
Inc-Currency
Future |
-2.6 |
- |
- |
- |
- |
|
Increase-LT Loans |
-23.1 |
-5.3 |
0.0 |
-8.9 |
- |
|
Increase-LT
Account Receivable |
- |
- |
- |
-4.2 |
- |
|
Inc-Guarantee Dep |
-5.4 |
-5.5 |
-2.5 |
-2.4 |
-7.3 |
|
Investment for
Natural Resources Dev. |
- |
12.9 |
- |
- |
- |
|
Inc-Currency
Futures |
- |
- |
-126.4 |
-63.9 |
-25.6 |
|
Acq-Merchand
Options |
-58.5 |
-55.6 |
-201.3 |
-99.4 |
-63.6 |
|
Increase-Other
Investment Assets |
- |
- |
- |
-0.2 |
- |
|
Inc-Investment
Secs |
-2.4 |
-1.9 |
-16.1 |
-0.6 |
-8.6 |
|
Inc-Equity
Investment Sec. |
-73.0 |
-57.5 |
-27.2 |
-98.9 |
-5.9 |
|
Increase-Land |
-0.3 |
0.0 |
- |
- |
- |
|
Acq-Building |
-4.6 |
-11.3 |
-0.2 |
-1.0 |
-0.1 |
|
Acq-Structure |
-1.9 |
-1.1 |
-0.1 |
-0.2 |
-0.1 |
|
Acq-Machinery |
-10.5 |
-30.6 |
-1.6 |
-2.7 |
-2.7 |
|
Acq-Fixtures |
-4.1 |
-3.7 |
-4.5 |
-3.0 |
-1.6 |
|
Acq-Vehicles |
-3.6 |
-2.5 |
-0.9 |
-1.8 |
-1.1 |
|
Acq-Tools/Equipmt |
-0.9 |
-0.2 |
- |
-0.2 |
-0.2 |
|
Acq-Constructn
Prog |
-27.8 |
-1.0 |
-3.0 |
-1.1 |
-2.2 |
|
Acq-Resource Dev't
C |
-159.8 |
-112.1 |
-131.0 |
-107.6 |
-71.2 |
|
Acq-Other
Intangible |
-49.3 |
-0.3 |
-5.1 |
-3.1 |
-3.7 |
|
Cash from
Investing Activities |
-394.7 |
-237.8 |
-141.1 |
-166.8 |
-23.9 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
227.3 |
- |
294.3 |
129.6 |
196.8 |
|
Inc-LT Borrowing |
133.9 |
28.2 |
24.0 |
12.8 |
4.6 |
|
Increase-Capital
Lease Liabilities |
-8.2 |
- |
- |
- |
- |
|
Increase-Bond |
271.6 |
117.0 |
- |
- |
- |
|
Increase-Convertible
Bond |
- |
292.5 |
- |
- |
- |
|
Inc-LT Guarant Dep |
0.0 |
- |
35.2 |
0.8 |
0.8 |
|
Inc-Government
Subsidy |
0.1 |
0.0 |
0.2 |
0.5 |
0.7 |
|
Increase-LT
Deposit Withheld |
10.3 |
- |
1.6 |
49.4 |
- |
|
Increase-LT
Accrued Payment |
- |
2.8 |
- |
- |
- |
|
Dec-Curr LT Liabs |
-19.8 |
-54.0 |
-71.9 |
-44.5 |
-43.0 |
|
Dec-ST Borrowings |
-3.3 |
-83.8 |
- |
- |
-167.4 |
|
Dec-LT Borrowings |
-5.1 |
-34.5 |
-50.9 |
-71.7 |
-44.3 |
|
Dec-LT Guarant
Depo |
- |
-0.1 |
-1.6 |
-0.9 |
-0.8 |
|
Decrease-LT
Deposit Withheld |
- |
-1.7 |
- |
- |
- |
|
Dec-LT Account
Payables |
- |
- |
- |
- |
-0.2 |
|
Dec-Government
Subsidy |
-0.1 |
-0.1 |
-0.4 |
-0.1 |
-0.3 |
|
Increase-Discount
on Stock Issuance |
-0.1 |
-0.1 |
- |
- |
- |
|
Dividends Paid |
-4.2 |
-3.7 |
-30.2 |
-4.9 |
-2.1 |
|
Consolid Scope Adj |
3.0 |
6.8 |
- |
-0.9 |
0.9 |
|
Cash from
Financing Activities |
605.5 |
269.4 |
200.4 |
69.9 |
-54.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.8 |
-3.2 |
3.8 |
0.7 |
0.5 |
|
Net Change in
Cash |
-476.0 |
509.8 |
88.5 |
95.5 |
-50.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
843.3 |
254.2 |
206.2 |
148.8 |
195.7 |
|
Net Cash - Ending Balance |
367.3 |
764.0 |
294.8 |
244.3 |
144.7 |
Financial Health
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
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Annual Income Statement
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
Revenue |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
Total Revenue |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
13,114.6 |
8,408.1 |
9,666.8 |
8,229.4 |
6,605.1 |
|
Cost of Revenue,
Total |
13,114.6 |
8,408.1 |
9,666.8 |
8,229.4 |
6,605.1 |
|
Gross Profit |
819.6 |
636.1 |
715.5 |
612.2 |
564.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
512.6 |
513.1 |
604.0 |
521.7 |
466.8 |
|
Labor &
Related Expense |
132.5 |
- |
- |
- |
- |
|
Advertising
Expense |
9.4 |
- |
- |
- |
- |
|
Total
Selling/General/Administrative Expenses |
654.4 |
513.1 |
604.0 |
521.7 |
466.8 |
|
Research & Development |
0.3 |
- |
- |
- |
- |
|
Depreciation |
6.3 |
- |
- |
- |
- |
|
Amortization of
Intangibles |
1.5 |
- |
- |
- |
- |
|
Depreciation/Amortization |
7.8 |
- |
- |
- |
- |
|
Total Operating
Expense |
13,777.0 |
8,921.3 |
10,270.9 |
8,751.1 |
7,071.9 |
|
|
|
|
|
|
|
|
Operating Income |
157.1 |
122.9 |
111.4 |
90.5 |
97.3 |
|
|
|
|
|
|
|
|
Interest
Expense - Non-Operating |
-44.0 |
-38.2 |
-10.5 |
-35.8 |
-36.5 |
|
Interest Expense,
Net Non-Operating |
-44.0 |
-38.2 |
-10.5 |
-35.8 |
-36.5 |
|
Interest
Income - Non-Operating |
8.2 |
10.0 |
11.4 |
13.9 |
16.8 |
|
Investment
Income - Non-Operating |
314.1 |
310.5 |
205.0 |
203.1 |
192.6 |
|
Interest/Investment
Income - Non-Operating |
322.3 |
320.5 |
216.4 |
217.0 |
209.5 |
|
Interest Income
(Expense) - Net Non-Operating Total |
278.2 |
282.3 |
205.9 |
181.2 |
173.0 |
|
Gain (Loss) on Sale of Assets |
-230.1 |
-215.8 |
-255.4 |
-135.4 |
-106.1 |
|
Other
Non-Operating Income (Expense) |
-113.8 |
-45.6 |
26.5 |
-2.0 |
2.8 |
|
Other, Net |
-113.8 |
-45.6 |
26.5 |
-2.0 |
2.8 |
|
Income Before
Tax |
91.4 |
143.8 |
88.4 |
134.3 |
167.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
-11.5 |
41.3 |
16.9 |
29.5 |
49.7 |
|
Income After Tax |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
|
|
|
|
|
|
|
Minority Interest |
3.2 |
0.4 |
6.5 |
4.3 |
-0.1 |
|
Net Income
Before Extraord Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available
to Common Excl Extraord Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available
to Common Incl Extraord Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
100.8 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Basic EPS Excl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Basic/Primary EPS Incl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Diluted Weighted Average Shares |
100.9 |
100.9 |
100.9 |
101.0 |
101.0 |
|
Diluted EPS Excl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Diluted EPS Incl Extraord Items |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Dividends per Share - Common Stock Primary
Issue |
0.17 |
0.04 |
0.04 |
0.36 |
0.30 |
|
Gross Dividends - Common Stock |
17.5 |
3.8 |
4.3 |
35.8 |
29.8 |
|
Interest Expense, Supplemental |
44.0 |
38.2 |
10.5 |
35.8 |
36.5 |
|
Interest Capitalized, Supplemental |
-19.1 |
-15.9 |
-15.6 |
-4.3 |
- |
|
Depreciation, Supplemental |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Total Special Items |
230.1 |
215.8 |
255.4 |
135.4 |
106.1 |
|
Normalized
Income Before Tax |
321.6 |
359.6 |
343.8 |
269.7 |
273.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
80.6 |
61.9 |
49.0 |
29.8 |
31.6 |
|
Inc Tax Ex Impact of Sp Items |
69.0 |
103.2 |
65.9 |
59.3 |
81.3 |
|
Normalized
Income After Tax |
252.5 |
256.4 |
277.9 |
210.3 |
191.9 |
|
|
|
|
|
|
|
|
Normalized Inc.
Avail to Com. |
255.7 |
256.8 |
284.5 |
214.6 |
191.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.54 |
2.55 |
2.82 |
2.13 |
1.90 |
|
Diluted Normalized EPS |
2.53 |
2.55 |
2.82 |
2.12 |
1.90 |
|
Amort of Intangibles, Supplemental |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Rental Expenses |
13.2 |
11.5 |
12.0 |
13.4 |
- |
|
Advertising Expense, Supplemental |
9.4 |
6.7 |
11.7 |
3.3 |
- |
|
Research & Development Exp,
Supplemental |
0.3 |
0.4 |
0.3 |
0.4 |
0.2 |
|
Normalized EBIT |
157.1 |
122.9 |
111.4 |
90.5 |
97.3 |
|
Normalized EBITDA |
188.5 |
151.8 |
144.3 |
126.0 |
119.8 |
Interim Income Statement
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
3 Months |
3 Months |
|
UpdateType/Date |
Updated
Normal |
Updated
Normal |
|
Filed Currency |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1120.28956 |
1145.278736 |
|
|
|
|
|
Net Sales |
4,084.3 |
3,208.2 |
|
Revenue |
4,084.3 |
3,208.2 |
|
Total Revenue |
4,084.3 |
3,208.2 |
|
|
|
|
|
Cost of Revenue |
3,846.6 |
3,005.2 |
|
Cost of Revenue,
Total |
3,846.6 |
3,005.2 |
|
Gross Profit |
237.7 |
203.0 |
|
|
|
|
|
Selling/General/Administrative
Expense |
130.7 |
124.3 |
|
Labor &
Related Expense |
37.4 |
33.8 |
|
Advertising
Expense |
2.0 |
2.2 |
|
Total
Selling/General/Administrative Expenses |
170.1 |
160.2 |
|
Research & Development |
0.3 |
- |
|
Depreciation |
1.5 |
1.8 |
|
Amortization of
Intangibles |
0.3 |
0.2 |
|
Depreciation/Amortization |
1.7 |
2.0 |
|
Loss (Gain) on
Sale of Assets - Operating |
0.1 |
-0.1 |
|
Unusual Expense
(Income) |
0.1 |
-0.1 |
|
Other Operating
Expense |
1.4 |
0.8 |
|
Other, Net |
0.8 |
0.6 |
|
Other Operating
Expenses, Total |
2.2 |
1.4 |
|
Total Operating
Expense |
4,021.1 |
3,168.8 |
|
|
|
|
|
Operating Income |
63.2 |
39.4 |
|
|
|
|
|
Interest
Expense - Non-Operating |
-23.0 |
-19.5 |
|
Interest Expense,
Net Non-Operating |
-23.0 |
-19.5 |
|
Interest
Income - Non-Operating |
1.9 |
2.4 |
|
Investment
Income - Non-Operating |
-19.9 |
26.0 |
|
Interest/Investment
Income - Non-Operating |
-18.0 |
28.4 |
|
Interest Income
(Expense) - Net Non-Operating Total |
-41.0 |
8.9 |
|
Other
Non-Operating Income (Expense) |
-17.1 |
-14.1 |
|
Other, Net |
-17.1 |
-14.1 |
|
Income Before
Tax |
5.1 |
34.3 |
|
|
|
|
|
Total Income Tax |
2.7 |
7.2 |
|
Income After Tax |
2.4 |
27.1 |
|
|
|
|
|
Minority Interest |
0.9 |
-0.4 |
|
Net Income
Before Extraord Items |
3.3 |
26.7 |
|
Net Income |
3.3 |
26.7 |
|
|
|
|
|
Income Available
to Common Excl Extraord Items |
3.3 |
26.7 |
|
|
|
|
|
Income Available
to Common Incl Extraord Items |
3.3 |
26.7 |
|
|
|
|
|
Basic/Primary Weighted Average Shares |
101.9 |
100.8 |
|
Basic EPS Excl Extraord Items |
0.03 |
0.26 |
|
Basic/Primary EPS Incl Extraord Items |
0.03 |
0.26 |
|
Dilution Adjustment |
0.0 |
0.0 |
|
Diluted Net Income |
3.3 |
26.7 |
|
Diluted Weighted Average Shares |
102.0 |
100.8 |
|
Diluted EPS Excl Extraord Items |
0.03 |
0.26 |
|
Diluted EPS Incl Extraord Items |
0.03 |
0.26 |
|
Dividends per Share - Common Stock Primary
Issue |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
23.0 |
19.5 |
|
Depreciation, Supplemental |
4.5 |
2.3 |
|
Total Special Items |
0.1 |
-0.1 |
|
Normalized
Income Before Tax |
5.2 |
34.1 |
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
2.7 |
7.1 |
|
Normalized
Income After Tax |
2.5 |
27.0 |
|
|
|
|
|
Normalized Inc.
Avail to Com. |
3.3 |
26.6 |
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.26 |
|
Diluted Normalized EPS |
0.03 |
0.26 |
|
Amort of Intangibles, Supplemental |
1.0 |
1.0 |
|
Rental Expenses |
3.7 |
3.1 |
|
Advertising Expense, Supplemental |
2.0 |
2.2 |
|
Research & Development Exp,
Supplemental |
0.3 |
- |
|
Normalized EBIT |
63.3 |
39.3 |
|
Normalized EBITDA |
68.8 |
42.6 |
Annual Balance Sheet
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Updated
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash &
Equivalents |
374.2 |
837.3 |
257.4 |
242.1 |
148.0 |
|
Short Term
Investments |
29.5 |
12.3 |
21.7 |
91.6 |
143.0 |
|
Cash and Short Term
Investments |
403.7 |
849.6 |
279.1 |
333.7 |
291.0 |
|
Accounts
Receivable - Trade, Gross |
972.4 |
655.1 |
541.4 |
506.1 |
592.6 |
|
Provision
for Doubtful Accounts |
-43.0 |
-37.5 |
-39.6 |
-44.7 |
-47.2 |
|
Trade Accounts Receivable
- Net |
930.7 |
620.5 |
501.9 |
463.2 |
545.9 |
|
Other Receivables |
103.1 |
36.4 |
45.2 |
42.2 |
47.9 |
|
Total
Receivables, Net |
1,033.7 |
656.9 |
547.1 |
505.4 |
593.8 |
|
Inventories -
Finished Goods |
669.2 |
289.4 |
262.0 |
238.1 |
256.9 |
|
Inventories - Work
In Progress |
15.2 |
14.0 |
15.8 |
18.8 |
15.9 |
|
Inventories - Raw
Materials |
41.7 |
30.4 |
38.7 |
41.2 |
26.1 |
|
Inventories -
Other |
258.0 |
91.6 |
89.5 |
122.8 |
128.0 |
|
Total Inventory |
984.1 |
425.3 |
406.0 |
420.9 |
426.8 |
|
Prepaid Expenses |
4.8 |
13.3 |
11.3 |
12.4 |
8.6 |
|
Deferred Income
Tax - Current Asset |
37.2 |
32.3 |
47.0 |
38.2 |
35.0 |
|
Other Current
Assets |
74.3 |
45.9 |
27.0 |
13.1 |
14.1 |
|
Other Current
Assets, Total |
111.5 |
78.2 |
74.0 |
51.3 |
49.1 |
|
Total Current
Assets |
2,537.9 |
2,023.4 |
1,317.6 |
1,323.7 |
1,369.3 |
|
|
|
|
|
|
|
|
Buildings |
282.3 |
273.0 |
260.9 |
290.5 |
270.6 |
|
Land/Improvements |
75.3 |
73.7 |
25.8 |
34.2 |
33.5 |
|
Machinery/Equipment |
383.6 |
473.4 |
461.2 |
476.3 |
408.6 |
|
Construction
in Progress |
26.3 |
5.4 |
0.4 |
1.0 |
4.2 |
|
Property/Plant/Equipment
- Gross |
767.6 |
825.5 |
748.4 |
802.0 |
716.9 |
|
Accumulated
Depreciation |
-281.8 |
-260.6 |
-241.7 |
-244.2 |
-214.9 |
|
Property/Plant/Equipment
- Net |
485.8 |
564.9 |
506.7 |
557.9 |
502.0 |
|
Goodwill, Net |
0.0 |
0.1 |
0.3 |
0.6 |
0.8 |
|
Intangibles, Net |
150.2 |
61.7 |
64.2 |
45.7 |
46.7 |
|
LT Investment -
Affiliate Companies |
1,128.5 |
866.5 |
490.8 |
649.8 |
486.7 |
|
LT Investments -
Other |
91.4 |
73.2 |
58.1 |
65.0 |
44.2 |
|
Long Term
Investments |
1,219.8 |
939.7 |
548.9 |
714.9 |
530.8 |
|
Note Receivable - Long Term |
57.7 |
30.1 |
1.5 |
26.5 |
0.0 |
|
Deferred Income
Tax - Long Term Asset |
5.1 |
2.3 |
0.2 |
0.1 |
0.0 |
|
Other Long Term
Assets |
523.3 |
410.1 |
321.1 |
281.5 |
210.4 |
|
Other Long Term
Assets, Total |
528.4 |
412.3 |
321.2 |
281.5 |
210.4 |
|
Total Assets |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,022.6 |
1,021.2 |
575.7 |
660.6 |
606.0 |
|
Accrued Expenses |
24.2 |
9.9 |
9.5 |
18.2 |
49.1 |
|
Notes Payable/Short Term Debt |
770.0 |
525.8 |
568.0 |
364.6 |
241.4 |
|
Current Portion - Long Term Debt/Capital
Leases |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Dividends Payable |
- |
- |
- |
0.0 |
1.5 |
|
Customer Advances |
67.2 |
72.5 |
53.0 |
36.5 |
38.3 |
|
Security Deposits |
2.7 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Income Taxes
Payable |
4.5 |
10.3 |
30.8 |
0.4 |
14.8 |
|
Other Current
Liabilities |
108.2 |
88.7 |
87.4 |
60.8 |
152.1 |
|
Other Current
liabilities, Total |
182.7 |
171.7 |
171.4 |
97.8 |
206.8 |
|
Total Current
Liabilities |
2,346.4 |
1,744.7 |
1,356.0 |
1,218.0 |
1,133.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
813.0 |
682.1 |
222.2 |
280.2 |
376.6 |
|
Capital Lease
Obligations |
33.1 |
39.2 |
55.8 |
58.8 |
0.0 |
|
Total Long Term
Debt |
846.2 |
721.2 |
278.0 |
339.0 |
376.6 |
|
Total Debt |
1,963.1 |
1,263.0 |
877.4 |
780.5 |
648.6 |
|
|
|
|
|
|
|
|
Deferred Income
Tax - LT Liability |
118.7 |
112.1 |
36.8 |
77.2 |
41.7 |
|
Deferred Income
Tax |
118.7 |
112.1 |
36.8 |
77.2 |
41.7 |
|
Minority Interest |
3.4 |
8.4 |
9.1 |
16.2 |
17.6 |
|
Reserves |
115.3 |
101.6 |
101.4 |
101.3 |
95.9 |
|
Pension Benefits -
Underfunded |
9.2 |
0.8 |
0.9 |
0.2 |
0.2 |
|
Other Long Term
Liabilities |
144.2 |
150.0 |
139.1 |
149.9 |
28.7 |
|
Other
Liabilities, Total |
268.7 |
252.5 |
241.4 |
251.5 |
124.7 |
|
Total
Liabilities |
3,583.3 |
2,838.9 |
1,921.3 |
1,901.9 |
1,694.4 |
|
|
|
|
|
|
|
|
Common Stock |
445.2 |
420.1 |
377.1 |
507.4 |
510.7 |
|
Common Stock |
445.2 |
420.1 |
377.1 |
507.4 |
510.7 |
|
Additional Paid-In Capital |
21.9 |
16.5 |
1.1 |
1.4 |
1.4 |
|
Retained Earnings (Accumulated Deficit) |
673.2 |
567.5 |
435.5 |
535.2 |
458.7 |
|
Unrealized Gain (Loss) |
201.1 |
139.1 |
-24.1 |
9.1 |
12.9 |
|
Translation
Adjustment |
55.5 |
49.8 |
48.8 |
-5.4 |
-16.4 |
|
Other Equity |
-0.3 |
0.3 |
0.7 |
1.2 |
-1.7 |
|
Other Equity,
Total |
55.2 |
50.1 |
49.5 |
-4.2 |
-18.1 |
|
Total Equity |
1,396.6 |
1,193.3 |
839.0 |
1,048.9 |
965.6 |
|
|
|
|
|
|
|
|
Total
Liabilities & Shareholders’ Equity |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
Shares Outstanding
- Common Stock Primary Issue |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Total Common
Shares Outstanding |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Treasury Shares - Common Stock Primary
Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
1,796 |
1,431 |
1,486 |
1,494 |
1,503 |
|
Number of Common Shareholders |
45,691 |
40,785 |
37,135 |
44,406 |
38,819 |
|
Deferred Revenue - Current |
67.2 |
72.5 |
53.0 |
36.5 |
38.3 |
|
Total Long Term Debt, Supplemental |
763.8 |
281.2 |
275.3 |
397.6 |
469.3 |
|
Long Term Debt Maturing within 1 Year |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Long Term Debt Maturing in Year 2 |
34.5 |
44.2 |
56.8 |
63.7 |
101.6 |
|
Long Term Debt Maturing in Year 3 |
69.3 |
46.5 |
37.8 |
67.5 |
56.9 |
|
Long Term Debt Maturing in Year 4 |
118.0 |
62.5 |
36.3 |
41.4 |
60.8 |
|
Long Term Debt Maturing in Year 5 |
68.1 |
41.0 |
34.9 |
41.7 |
34.8 |
|
Long Term Debt Maturing in 2-3 Years |
103.7 |
90.7 |
94.6 |
131.2 |
158.6 |
|
Long Term Debt Maturing in 4-5 Years |
186.1 |
103.5 |
71.3 |
83.1 |
95.6 |
|
Long Term Debt Matur. in Year 6 &
Beyond |
127.0 |
71.1 |
78.0 |
106.4 |
184.6 |
|
Total Operating Leases, Supplemental |
- |
- |
0.0 |
0.1 |
- |
|
Operating Lease Payments Due in Year 1 |
- |
- |
0.0 |
0.1 |
- |
|
Oper. Lse. Pymts. Due in Year 6 &
Beyond |
- |
- |
0.0 |
0.0 |
- |
Interim Balance Sheet
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
KRW |
|
Exchange Rate |
1096.95 |
|
|
|
|
Cash & Equivalents |
331.5 |
|
Short Term Investments |
0.0 |
|
Cash and Short Term Investments |
331.5 |
|
Provision for Doubtful
Accounts |
-45.0 |
|
Trade Accounts Receivable - Net |
2,509.1 |
|
Other Receivables |
30.2 |
|
Total Receivables, Net |
2,539.4 |
|
Inventories - Finished Goods |
753.3 |
|
Inventories - Work In Progress |
14.3 |
|
Inventories - Raw Materials |
38.0 |
|
Inventories - Other |
547.1 |
|
Total Inventory |
1,352.7 |
|
Prepaid Expenses |
1.5 |
|
Other Current Assets |
120.3 |
|
Other Current Assets, Total |
120.3 |
|
Total Current Assets |
4,345.4 |
|
|
|
|
Buildings |
266.1 |
|
Land/Improvements |
70.9 |
|
Machinery/Equipment |
437.8 |
|
Construction in
Progress |
34.7 |
|
Other
Property/Plant/Equipment |
73.1 |
|
Property/Plant/Equipment - Gross |
882.6 |
|
Accumulated Depreciation |
-404.0 |
|
Property/Plant/Equipment - Net |
478.7 |
|
Intangibles, Net |
793.9 |
|
LT Investment - Affiliate Companies |
1,152.8 |
|
LT Investments - Other |
127.1 |
|
Long Term Investments |
1,279.8 |
|
Note Receivable - Long Term |
80.8 |
|
Deferred Income Tax - Long Term Asset |
5.8 |
|
Other Long Term Assets |
20.9 |
|
Other Long Term Assets, Total |
26.7 |
|
Total Assets |
7,005.4 |
|
|
|
|
Accounts Payable |
1,175.7 |
|
Accrued Expenses |
26.4 |
|
Notes Payable/Short Term Debt |
2,429.0 |
|
Current Portion - Long Term Debt/Capital Leases |
360.6 |
|
Dividends Payable |
18.4 |
|
Security Deposits |
1.4 |
|
Other Payables |
145.4 |
|
Other Current Liabilities |
163.4 |
|
Other Current liabilities, Total |
328.6 |
|
Total Current Liabilities |
4,320.4 |
|
|
|
|
Long Term Debt |
1,072.0 |
|
Total Long Term Debt |
1,072.0 |
|
Total Debt |
3,861.6 |
|
|
|
|
Deferred Income Tax - LT Liability |
31.1 |
|
Deferred Income Tax |
31.1 |
|
Minority Interest |
0.7 |
|
Reserves |
116.7 |
|
Pension Benefits - Underfunded |
10.3 |
|
Other Long Term Liabilities |
20.4 |
|
Other Liabilities, Total |
147.4 |
|
Total Liabilities |
5,571.6 |
|
|
|
|
Common Stock |
467.9 |
|
Common Stock |
467.9 |
|
Additional Paid-In Capital |
55.8 |
|
Retained Earnings (Accumulated Deficit) |
686.8 |
|
Unrealized Gain (Loss) |
231.2 |
|
Translation Adjustment |
-7.2 |
|
Other Equity |
-0.6 |
|
Other Equity, Total |
-7.8 |
|
Total Equity |
1,433.8 |
|
|
|
|
Total Liabilities & Shareholders’ Equity |
7,005.4 |
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
102.6 |
|
Total Common Shares Outstanding |
102.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
|
Employees |
1,805 |
Annual Cash Flows
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
Depreciation |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Depreciation/Depletion |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Amortization of Intangibles |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Amortization |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Deferred Taxes |
-22.5 |
35.1 |
-30.0 |
23.8 |
24.7 |
|
Unusual Items |
176.1 |
43.5 |
76.1 |
62.3 |
31.8 |
|
Equity in Net Earnings (Loss) |
-171.3 |
-119.8 |
-64.3 |
-116.2 |
-107.4 |
|
Other Non-Cash Items |
40.3 |
54.2 |
60.1 |
14.3 |
-11.3 |
|
Non-Cash Items |
45.2 |
-22.1 |
72.0 |
-39.6 |
-86.8 |
|
Accounts Receivable |
-371.1 |
-136.5 |
-223.4 |
58.6 |
-11.8 |
|
Inventories |
-522.6 |
23.1 |
-118.8 |
8.4 |
-120.1 |
|
Prepaid Expenses |
3.9 |
0.1 |
-0.5 |
2.5 |
5.0 |
|
Other Assets |
23.8 |
39.5 |
32.0 |
4.5 |
-17.3 |
|
Accounts Payable |
-17.6 |
396.2 |
84.7 |
45.0 |
41.5 |
|
Accrued Expenses |
6.7 |
4.7 |
-4.7 |
-52.0 |
-1.0 |
|
Taxes Payable |
-6.0 |
-20.8 |
34.0 |
-14.6 |
12.5 |
|
Other Liabilities |
-12.5 |
-8.5 |
29.1 |
-11.7 |
26.0 |
|
Other Operating Cash Flow |
55.3 |
39.1 |
46.8 |
26.7 |
14.2 |
|
Changes in Working Capital |
-840.1 |
337.0 |
-120.8 |
67.3 |
-51.0 |
|
Cash from Operating Activities |
-683.0 |
481.3 |
25.4 |
191.7 |
26.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-53.6 |
-50.3 |
-10.4 |
-10.0 |
-8.0 |
|
Purchase/Acquisition of Intangibles |
-209.1 |
-112.4 |
-136.1 |
-110.7 |
-75.0 |
|
Capital Expenditures |
-262.7 |
-162.7 |
-146.5 |
-120.7 |
-83.0 |
|
Sale of Fixed Assets |
24.7 |
0.8 |
1.9 |
9.3 |
7.9 |
|
Sale/Maturity of Investment |
18.4 |
27.1 |
376.5 |
211.5 |
157.1 |
|
Purchase of Investments |
-155.1 |
-115.1 |
-371.0 |
-263.0 |
-103.7 |
|
Sale of Intangible Assets |
- |
2.0 |
- |
- |
- |
|
Other Investing Cash Flow |
-20.0 |
10.1 |
-2.1 |
-3.9 |
-2.2 |
|
Other Investing Cash Flow Items, Total |
-132.0 |
-75.1 |
5.3 |
-46.1 |
59.1 |
|
Cash from Investing Activities |
-394.7 |
-237.8 |
-141.1 |
-166.8 |
-23.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-6.6 |
-46.2 |
-36.8 |
4.2 |
-41.9 |
|
Financing Cash Flow Items |
-6.6 |
-46.2 |
-36.8 |
4.2 |
-41.9 |
|
Total Cash Dividends Paid |
-4.2 |
-3.7 |
-30.2 |
-4.9 |
-2.1 |
|
Short Term Debt Issued |
227.3 |
- |
294.3 |
129.6 |
196.8 |
|
Short Term Debt
Reduction |
-3.3 |
-83.8 |
- |
- |
-167.4 |
|
Short Term Debt, Net |
224.0 |
-83.8 |
294.3 |
129.6 |
29.4 |
|
Long Term Debt Issued |
397.3 |
437.7 |
24.0 |
12.8 |
4.6 |
|
Long Term Debt
Reduction |
-5.1 |
-34.5 |
-50.9 |
-71.7 |
-44.3 |
|
Long Term Debt, Net |
392.2 |
403.2 |
-26.9 |
-58.9 |
-39.7 |
|
Issuance (Retirement) of Debt, Net |
616.3 |
319.4 |
267.4 |
70.6 |
-10.2 |
|
Cash from Financing Activities |
605.5 |
269.4 |
200.4 |
69.9 |
-54.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.8 |
-3.2 |
3.8 |
0.7 |
0.5 |
|
Net Change in Cash |
-476.0 |
509.8 |
88.5 |
95.5 |
-50.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
843.3 |
254.2 |
206.2 |
148.8 |
195.7 |
|
Net Cash - Ending Balance |
367.3 |
764.0 |
294.8 |
244.3 |
144.7 |
Interim Cash Flows
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1120.28956 |
1145.278736 |
|
|
|
|
|
Net Income/Starting Line |
2.4 |
27.1 |
|
Depreciation |
4.5 |
2.3 |
|
Depreciation/Depletion |
4.5 |
2.3 |
|
Amortization of Intangibles |
1.0 |
1.0 |
|
Amortization |
1.0 |
1.0 |
|
Unusual Items |
35.0 |
1.4 |
|
Other Non-Cash Items |
5.3 |
24.8 |
|
Non-Cash Items |
40.3 |
26.2 |
|
Accounts Receivable |
-368.1 |
-419.0 |
|
Inventories |
-261.0 |
-33.6 |
|
Prepaid Expenses |
4.8 |
1.3 |
|
Other Assets |
-58.8 |
-18.7 |
|
Accounts Payable |
237.4 |
232.3 |
|
Accrued Expenses |
0.3 |
-4.7 |
|
Other Liabilities |
7.1 |
17.0 |
|
Other Operating Cash Flow |
-22.1 |
-22.0 |
|
Changes in Working Capital |
-460.4 |
-247.4 |
|
Cash from Operating Activities |
-412.1 |
-190.8 |
|
|
|
|
|
Purchase of Fixed Assets |
-46.1 |
-2.4 |
|
Purchase/Acquisition of Intangibles |
-46.6 |
-70.2 |
|
Capital Expenditures |
-92.7 |
-72.6 |
|
Sale of Fixed Assets |
0.3 |
40.6 |
|
Sale/Maturity of Investment |
164.8 |
0.4 |
|
Purchase of Investments |
-168.7 |
-2.9 |
|
Other Investing Cash Flow |
-36.4 |
-9.4 |
|
Other Investing Cash Flow Items, Total |
-40.1 |
28.8 |
|
Cash from Investing Activities |
-132.8 |
-43.8 |
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
-0.1 |
|
Financing Cash Flow Items |
0.0 |
-0.1 |
|
Short Term Debt Issued |
527.3 |
92.8 |
|
Short Term Debt
Reduction |
-55.7 |
-427.5 |
|
Short Term Debt, Net |
471.6 |
-334.7 |
|
Long Term Debt Issued |
3.5 |
9.7 |
|
Long Term Debt
Reduction |
-6.1 |
-3.0 |
|
Long Term Debt, Net |
-2.5 |
6.7 |
|
Issuance (Retirement) of Debt, Net |
469.1 |
-328.0 |
|
Cash from Financing Activities |
469.1 |
-328.1 |
|
|
|
|
|
Foreign Exchange Effects |
-2.7 |
-0.8 |
|
Net Change in Cash |
-78.5 |
-563.5 |
|
|
|
|
|
Net Cash - Beginning Balance |
403.1 |
860.2 |
|
Net Cash - Ending Balance |
324.6 |
296.6 |
|
Cash Interest Paid |
18.6 |
12.9 |
|
Cash Taxes Paid |
8.9 |
15.2 |
Annual Income Statement
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst & Young
LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
Total Revenue |
13,934.1 |
9,044.2 |
10,382.3 |
8,841.6 |
7,169.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
13,114.6 |
8,408.1 |
9,666.8 |
8,229.4 |
6,605.1 |
|
Selling/General/Adm. |
- |
513.1 |
604.0 |
521.7 |
466.8 |
|
Salaries & Wages |
99.0 |
- |
- |
- |
- |
|
Salaries & Retirement Allowance |
11.3 |
- |
- |
- |
- |
|
Employee Benefits |
22.2 |
- |
- |
- |
- |
|
Compensation Expenses Associated with St |
0.0 |
- |
- |
- |
- |
|
Travel Expense |
9.4 |
- |
- |
- |
- |
|
Communication Expense |
3.7 |
- |
- |
- |
- |
|
Utility Expenses |
0.9 |
- |
- |
- |
- |
|
Taxes & Dues |
8.7 |
- |
- |
- |
- |
|
Rental Expenses |
13.2 |
- |
- |
- |
- |
|
Depreciation |
6.3 |
- |
- |
- |
- |
|
Amortization of Intangible Assets |
1.5 |
- |
- |
- |
- |
|
Expenses of Allowance for Doubtful Accou |
7.2 |
- |
- |
- |
- |
|
Repair Expenses |
1.1 |
- |
- |
- |
- |
|
Insurance Expense |
14.3 |
- |
- |
- |
- |
|
Entertainment Expenses |
2.6 |
- |
- |
- |
- |
|
Advertising Expenses |
1.9 |
- |
- |
- |
- |
|
Packaging Expense |
0.2 |
- |
- |
- |
- |
|
Freight Expenses |
318.7 |
- |
- |
- |
- |
|
Export Expenses |
25.0 |
- |
- |
- |
- |
|
Commissions |
92.8 |
- |
- |
- |
- |
|
Supply Expenses |
1.5 |
- |
- |
- |
- |
|
Vehicle Maintenance Expenses |
3.2 |
- |
- |
- |
- |
|
Publication Expenses |
0.6 |
- |
- |
- |
- |
|
Training Expenses |
1.1 |
- |
- |
- |
- |
|
Development Expenses |
0.3 |
- |
- |
- |
- |
|
Sales Promotional Expenses |
7.4 |
- |
- |
- |
- |
|
Expo Exspenses |
0.3 |
- |
- |
- |
- |
|
Sample Expenses |
2.6 |
- |
- |
- |
- |
|
Miscellaneous Expenses |
2.5 |
- |
- |
- |
- |
|
Other Selling and Administrative Expense |
3.0 |
- |
- |
- |
- |
|
Adjustment |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
13,777.0 |
8,921.3 |
10,270.9 |
8,751.1 |
7,071.9 |
|
|
|
|
|
|
|
|
Interest Income |
8.2 |
10.0 |
11.4 |
13.9 |
16.8 |
|
Dividend Income |
1.9 |
0.1 |
1.9 |
5.6 |
2.6 |
|
Rental Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
G-Tang Asst Disposal |
0.9 |
0.6 |
0.2 |
0.3 |
0.1 |
|
Recovery-Contingency Loss Reserve |
6.4 |
4.6 |
- |
0.5 |
0.0 |
|
G-Currency Contract Settlement Valuation |
- |
- |
3.4 |
- |
- |
|
Gain-Commodity Futures Transaction |
156.2 |
128.3 |
169.1 |
96.7 |
76.9 |
|
G-Commodity Future Valu |
19.2 |
15.7 |
11.9 |
4.7 |
5.5 |
|
G-Currency Futr Trade |
145.2 |
90.0 |
130.5 |
30.1 |
31.7 |
|
G-Currency Futr Valu |
25.6 |
16.0 |
10.4 |
3.7 |
4.1 |
|
G-Inv.Asset Disposal |
- |
12.4 |
9.6 |
13.6 |
10.9 |
|
Gain-Foreign Exchange Transaction |
367.9 |
318.2 |
508.6 |
102.1 |
95.3 |
|
Gain-Foreign Currency Translation |
37.4 |
37.7 |
97.7 |
21.1 |
27.8 |
|
Revers-Doubtful Acct |
0.3 |
3.0 |
2.1 |
0.0 |
1.4 |
|
Fees Received |
0.0 |
1.7 |
0.9 |
0.6 |
0.9 |
|
Gain-Valuation of Contracts-Settlement |
113.7 |
69.3 |
- |
- |
- |
|
Gain-Merchandise Settlement Valuation |
- |
- |
62.5 |
32.3 |
12.0 |
|
Gain on disposal of Subsidiaries |
- |
4.8 |
- |
- |
- |
|
Other Non-Operating Income |
1.8 |
4.6 |
33.3 |
7.7 |
11.6 |
|
Interest Expense, Non-Operating |
-44.0 |
-38.2 |
-10.5 |
-35.8 |
-36.5 |
|
L-Trade Rcvbl Disposal |
-45.6 |
-51.3 |
-64.0 |
-45.9 |
-45.0 |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
-4.7 |
0.0 |
|
Loss-Valuation of Inventories |
- |
-0.6 |
-6.0 |
-0.4 |
-0.5 |
|
L-Tang.Asst Disposal |
-0.2 |
-0.1 |
-0.4 |
-0.1 |
-1.7 |
|
Loss-Reduction of Tangible Assets |
-109.0 |
-0.6 |
-6.3 |
-0.7 |
- |
|
L-Commodity Futures Valu |
-46.8 |
-29.6 |
-34.1 |
-11.9 |
-9.4 |
|
L-Currency Futures Trade |
-143.8 |
-69.1 |
-123.6 |
-57.7 |
-24.7 |
|
L-Commodity Futures Trade |
-185.2 |
-164.9 |
-191.3 |
-89.7 |
-59.4 |
|
L-Currency Futr Valu |
-18.0 |
-20.7 |
-13.8 |
-3.4 |
-6.0 |
|
Loss-Foreign Exchange Transaction |
-368.3 |
-335.0 |
-568.8 |
-91.9 |
-104.7 |
|
Loss-Foreign Currency Translation |
-35.6 |
-31.0 |
-78.2 |
-23.2 |
-10.6 |
|
Loss-Reduction of Investment Assets |
-2.9 |
-15.1 |
-3.2 |
- |
- |
|
Loss-Disposal of Investment Assets |
-1.6 |
-1.1 |
- |
-0.4 |
-0.2 |
|
L-Liab.Redemption |
- |
-0.6 |
-0.1 |
-0.1 |
-0.6 |
|
L-Merchandise Settlement Valuation |
- |
- |
-24.5 |
-28.9 |
-25.6 |
|
Other Amortization |
-13.6 |
-23.2 |
-0.3 |
0.0 |
-1.2 |
|
Donations Paid |
-1.2 |
-1.6 |
-0.6 |
-0.4 |
-0.3 |
|
Reserve-Recovery |
-0.2 |
-0.1 |
- |
- |
- |
|
Contingency Loss |
-15.1 |
-1.8 |
-2.4 |
-2.8 |
-2.6 |
|
L-Currency Contract Settlement Valuation |
- |
- |
-6.7 |
- |
- |
|
Loss-Valuation of Confirmed Contracts |
-85.2 |
-27.7 |
- |
- |
- |
|
Other Non-Operating Expense |
-7.2 |
-4.5 |
-6.4 |
-7.5 |
-6.4 |
|
Gain under Equity Method |
176.2 |
121.8 |
68.0 |
118.9 |
109.1 |
|
Loss under Equity Method |
-3.4 |
-0.8 |
-3.7 |
-2.2 |
-1.6 |
|
Net Income Before Taxes |
91.4 |
143.8 |
88.4 |
134.3 |
167.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-11.5 |
41.3 |
16.9 |
29.5 |
49.7 |
|
Net Income After Taxes |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
|
|
|
|
|
|
|
Minority Interest |
3.2 |
0.4 |
6.5 |
4.3 |
-0.1 |
|
Net Income Before Extra. Items |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
100.8 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Basic EPS Excluding ExtraOrdin |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Basic EPS Including ExtraOrdin |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
106.1 |
102.9 |
78.0 |
109.0 |
117.2 |
|
Diluted Weighted Average Share |
100.9 |
100.9 |
100.9 |
101.0 |
101.0 |
|
Diluted EPS Excluding ExtraOrd |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
Diluted EPS Including ExtraOrd |
1.05 |
1.02 |
0.77 |
1.08 |
1.16 |
|
DPS-Common Stock |
0.17 |
0.04 |
0.04 |
0.36 |
0.30 |
|
Gross Dividends - Common Stock |
17.5 |
3.8 |
4.3 |
35.8 |
29.8 |
|
Normalized Income Before Taxes |
321.6 |
359.6 |
343.8 |
269.7 |
273.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
69.0 |
103.2 |
65.9 |
59.3 |
81.3 |
|
Normalized Income After Taxes |
252.5 |
256.4 |
277.9 |
210.3 |
191.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
255.7 |
256.8 |
284.5 |
214.6 |
191.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.54 |
2.55 |
2.82 |
2.13 |
1.90 |
|
Diluted Normalized EPS |
2.53 |
2.55 |
2.82 |
2.12 |
1.90 |
|
Interest Expense |
44.0 |
38.2 |
10.5 |
35.8 |
36.5 |
|
Interest Capitalized |
-19.1 |
-15.9 |
-15.6 |
-4.3 |
- |
|
Rental Expense |
13.2 |
11.5 |
12.0 |
13.4 |
- |
|
Advertising Expense |
9.4 |
6.7 |
11.7 |
3.3 |
- |
|
Research & Development, Supplemental |
0.3 |
0.4 |
0.3 |
0.4 |
0.2 |
|
Depreciation |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Amort of Intangibles, Suppleme |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
Interim income statement
As reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1120.28956 |
1145.278736 |
|
|
|
|
|
Sales Revenue |
4,084.3 |
3,208.2 |
|
Total Revenue |
4,084.3 |
3,208.2 |
|
|
|
|
|
Cost-Revenue |
3,846.6 |
3,005.2 |
|
Salaries and Wages |
31.0 |
25.2 |
|
Retirement and Severance Benefits |
2.0 |
4.6 |
|
Employee Benefits |
4.4 |
4.0 |
|
Expense-Stock Compensation |
0.0 |
0.0 |
|
Travel Expenses |
2.5 |
2.2 |
|
Communication Expenses |
1.1 |
0.9 |
|
Utility Expenses |
0.3 |
0.3 |
|
Taxes and Dues |
3.2 |
1.9 |
|
Rental Expenses |
3.7 |
3.1 |
|
Depreciation |
1.5 |
1.8 |
|
Amortization of Intangible Assets |
0.3 |
0.2 |
|
Repair Expenses |
0.2 |
0.3 |
|
Insurance Premiums |
4.0 |
3.2 |
|
Entertainment Expenses |
0.6 |
0.6 |
|
Advertising Expenses |
0.4 |
0.4 |
|
Packaging Expenses |
0.8 |
0.0 |
|
Freight Expenses |
77.9 |
80.0 |
|
Shipment |
6.4 |
5.2 |
|
Commissions |
25.8 |
22.5 |
|
Leasing Expense |
0.1 |
0.1 |
|
Expenses of Allowance for Doubtful Accou |
0.6 |
- |
|
Supply Expenses |
0.5 |
0.4 |
|
Vehicle Maintenance Expenses |
0.7 |
0.7 |
|
Publication Expenses |
0.1 |
0.2 |
|
Training Expenses |
0.2 |
0.2 |
|
Development Expenses |
0.3 |
- |
|
Sales Promotional Expenses |
1.6 |
1.8 |
|
Expo Expense |
0.0 |
0.1 |
|
Sample Expenses |
0.6 |
0.5 |
|
Miscellaneous Expenses |
0.6 |
0.7 |
|
Conference Expense |
0.4 |
- |
|
Other Selling and Administrative Expense |
0.1 |
1.1 |
|
Adjustment for Selling and Administrativ |
0.0 |
0.0 |
|
Rental Income |
0.0 |
0.0 |
|
Fee & Commission Received |
0.0 |
-0.2 |
|
Gain-Disposal of Tangible Assets |
0.0 |
-0.1 |
|
Recovery-Loan Loss Reserve |
-0.1 |
-0.3 |
|
Miscellaneous Non-Operating Income |
-0.5 |
-0.4 |
|
Adjustment for Other Operating Income |
0.0 |
0.0 |
|
Provisions for Restoration |
0.0 |
0.0 |
|
Loss-Disposal of Tangible Assets |
0.1 |
0.0 |
|
Donations Received |
1.0 |
1.0 |
|
S Contingency Loss |
0.4 |
0.4 |
|
Miscellaneous Non-Operating Expense |
1.4 |
0.8 |
|
Adjustment for Other Operating Expense |
0.0 |
0.0 |
|
Total Operating Expense |
4,021.1 |
3,168.8 |
|
|
|
|
|
Interest Income |
1.9 |
2.4 |
|
Financial Guarantee Credit |
0.0 |
0.0 |
|
Dividend Income |
0.0 |
0.2 |
|
Gains on Foreign Currency Transactions |
71.4 |
101.8 |
|
Gains on Foreign Currency Translation |
71.4 |
58.6 |
|
Gain-Valuation of Currency Forwards |
12.4 |
9.6 |
|
Gain-Futures Valuation |
16.2 |
21.6 |
|
Gain-Futures Transactions |
27.3 |
58.1 |
|
Gain-Currency Forwards Transactions |
40.8 |
27.7 |
|
Gain-Valuation of Contracts-Settlement |
11.3 |
12.8 |
|
Adjustment for Finance Income |
0.0 |
0.0 |
|
Loss-Disposal of Investment Assets |
- |
-0.4 |
|
Loss-Disposal of Accounts Receivable |
-1.7 |
-2.4 |
|
Interest Expenses |
-23.0 |
-19.5 |
|
Losses on Foreign Currency Transactions |
-77.5 |
-95.2 |
|
Losses on Foreign Currency Translation |
-65.5 |
-51.9 |
|
Loss-Valuation of Currency Forwards |
-10.8 |
-14.2 |
|
Loss-Futures Valuation |
-25.1 |
-31.9 |
|
Loss-Futures Transactions |
-61.1 |
-57.1 |
|
Loss-Currency Forwards Transaction |
-23.5 |
-23.4 |
|
Loss-Valuation of Confirmed Contracts |
-15.3 |
-11.7 |
|
Loss-Valuation of Convertible Bond |
-7.0 |
-23.8 |
|
Adjustment for Finance Expense |
0.0 |
0.0 |
|
Gain on Investment in Affiliates |
4.6 |
33.8 |
|
Loss on Investment in Affiliates |
-4.6 |
-0.2 |
|
Net Income Before Taxes |
5.1 |
34.3 |
|
|
|
|
|
Provision for Income Taxes |
2.7 |
7.2 |
|
Net Income After Taxes |
2.4 |
27.1 |
|
|
|
|
|
Minority Interest |
0.9 |
-0.4 |
|
Net Income Before Extra. Items |
3.3 |
26.7 |
|
Net Income |
3.3 |
26.7 |
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
3.3 |
26.7 |
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3.3 |
26.7 |
|
|
|
|
|
Basic Weighted Average Shares |
101.9 |
100.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.03 |
0.26 |
|
Basic EPS Including ExtraOrdinary Item |
0.03 |
0.26 |
|
Dilution Adjustment |
0.0 |
0.0 |
|
Diluted Net Income |
3.3 |
26.7 |
|
Diluted Weighted Average Shares |
102.0 |
100.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.03 |
0.26 |
|
Diluted EPS Including ExtraOrd Items |
0.03 |
0.26 |
|
DPS-Common Stock |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
5.2 |
34.1 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.7 |
7.1 |
|
Normalized Income After Taxes |
2.5 |
27.0 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
3.3 |
26.6 |
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.26 |
|
Diluted Normalized EPS |
0.03 |
0.26 |
|
Interest Expense, Supplemental |
23.0 |
19.5 |
|
Rental Expense, Supplemental |
3.7 |
3.1 |
|
Advertising Expense, Supplemental |
2.0 |
2.2 |
|
R&D Expense, Supplemental |
0.3 |
- |
|
Depreciation, Supplemental |
4.5 |
2.3 |
|
Amort of Intangibles, Supplemental |
1.0 |
1.0 |
Annual Balance Sheet
As Reported
Financials in: USD
(mil)
Except for share items
(millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
374.2 |
837.3 |
257.4 |
242.1 |
148.0 |
|
ST Finl Assets |
29.5 |
12.3 |
21.6 |
91.6 |
143.0 |
|
Marketable Secs. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
ST Loans |
3.1 |
10.4 |
13.8 |
8.9 |
2.3 |
|
Trade Rcvbls,G |
972.4 |
655.1 |
541.4 |
506.1 |
592.6 |
|
Allw-Doubtful Ac |
-43.0 |
-37.5 |
-39.6 |
-44.7 |
-47.2 |
|
Othert Rcvbls |
100.0 |
26.1 |
31.4 |
33.3 |
45.6 |
|
Advance Payments |
125.1 |
47.1 |
21.6 |
48.4 |
39.8 |
|
Prepaid Expense |
4.8 |
13.3 |
11.3 |
12.4 |
8.6 |
|
Guarantee Deposit |
1.5 |
0.3 |
0.6 |
0.5 |
0.3 |
|
Currency Futures |
28.6 |
17.7 |
9.1 |
3.7 |
4.2 |
|
Accrued Income |
1.3 |
2.8 |
0.1 |
1.8 |
0.5 |
|
Other Quick Asst |
- |
- |
- |
1.1 |
0.1 |
|
Commodity Futures |
19.6 |
17.2 |
10.4 |
4.6 |
5.7 |
|
Deferred Income Tax |
37.2 |
32.3 |
47.0 |
38.2 |
35.0 |
|
Contracts on Settlement |
24.6 |
10.7 |
- |
- |
- |
|
Merchandise Contracts on Settlement |
- |
- |
5.6 |
3.1 |
3.8 |
|
Currency Contracts on Settlement |
- |
- |
1.4 |
- |
- |
|
Merchandise |
646.6 |
277.3 |
244.2 |
220.9 |
229.4 |
|
Finished Goods |
22.6 |
12.0 |
17.8 |
17.3 |
27.4 |
|
Semi-finish Good |
8.6 |
8.9 |
9.9 |
11.0 |
11.6 |
|
Work in Progress |
6.6 |
5.1 |
5.9 |
7.9 |
4.3 |
|
Raw Materials |
33.5 |
23.6 |
31.9 |
33.9 |
19.0 |
|
Suppl. Material |
8.2 |
6.7 |
6.8 |
7.3 |
7.1 |
|
Supplies |
11.6 |
11.0 |
11.4 |
10.9 |
10.5 |
|
Goods in Transit |
121.3 |
33.5 |
56.5 |
63.4 |
77.8 |
|
Total Current Assets |
2,537.9 |
2,023.4 |
1,317.6 |
1,323.7 |
1,369.3 |
|
|
|
|
|
|
|
|
LT Finl Assets |
0.0 |
0.0 |
0.0 |
1.7 |
0.7 |
|
Investment Securities |
91.4 |
73.2 |
58.0 |
63.3 |
43.5 |
|
Affiliates Stocks |
1,128.5 |
866.5 |
490.8 |
649.8 |
486.7 |
|
LT Loan |
57.7 |
30.1 |
1.5 |
0.0 |
0.0 |
|
LT Account Receivable |
- |
- |
- |
26.5 |
0.0 |
|
Other Inv Assets |
- |
- |
0.1 |
0.0 |
0.0 |
|
LT Guarantee Dep |
20.4 |
16.1 |
11.6 |
15.3 |
19.4 |
|
Resourc Devt Inv |
502.9 |
394.0 |
309.5 |
266.1 |
191.0 |
|
Land |
75.3 |
73.7 |
25.8 |
34.2 |
33.5 |
|
Buildings |
267.6 |
260.3 |
251.5 |
276.8 |
256.7 |
|
Buildings-Reduction |
- |
- |
-1.8 |
- |
- |
|
Deprec-Buildings |
-56.3 |
-50.9 |
-45.2 |
-42.3 |
-34.6 |
|
Structures |
14.8 |
12.7 |
11.3 |
13.7 |
13.9 |
|
Gov't Subsidy-Structure |
-0.1 |
- |
- |
- |
- |
|
Deprec-Structure |
-3.9 |
-3.3 |
-2.6 |
-2.6 |
-2.1 |
|
Structures-Reduction |
- |
0.0 |
- |
- |
- |
|
Tools/Equipments |
4.2 |
3.3 |
3.1 |
3.6 |
4.4 |
|
Gov't Subsidy-Tools/Equip |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Depr-Tool/Equip |
-3.4 |
-2.9 |
-2.8 |
-3.1 |
-3.6 |
|
Tools & Equipments-Reduction |
- |
- |
- |
0.0 |
- |
|
Machinery/Equip. |
427.6 |
411.8 |
408.3 |
408.8 |
343.9 |
|
Gov't Subsidy-Machinery |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Reduction Loss-Machinery/Equip. |
-112.1 |
- |
-5.1 |
-1.3 |
0.0 |
|
Depr-Mach/Equip. |
-168.0 |
-159.0 |
-148.7 |
-144.0 |
-126.7 |
|
Transport Equip. |
25.1 |
23.7 |
22.1 |
23.3 |
20.9 |
|
Deprec-Transport |
-19.1 |
-17.5 |
-16.9 |
-17.4 |
-15.6 |
|
Fixtures |
38.9 |
34.7 |
32.8 |
42.0 |
39.6 |
|
Fixtures-Government Subsidy |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deprec-Fixtures |
-31.0 |
-27.1 |
-25.5 |
-34.7 |
-32.3 |
|
Ship & Airplane |
- |
- |
0.0 |
0.1 |
0.1 |
|
Dep-Ship/Airplan |
- |
- |
0.0 |
-0.1 |
-0.1 |
|
Construc in Prog |
26.3 |
5.4 |
0.4 |
1.0 |
4.2 |
|
Mining Rights |
133.6 |
45.3 |
44.1 |
27.0 |
24.1 |
|
Industrial Patnt |
16.2 |
15.2 |
18.6 |
17.0 |
17.8 |
|
Development Cost |
0.0 |
0.1 |
0.1 |
0.1 |
4.5 |
|
Other Intangible |
0.3 |
1.2 |
1.4 |
1.6 |
0.2 |
|
Deferred Income Tax, Debit |
5.1 |
2.3 |
0.2 |
0.1 |
0.0 |
|
Goodwill |
0.0 |
0.1 |
0.3 |
0.6 |
0.8 |
|
Total Assets |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
Trade Payable |
880.4 |
895.8 |
447.4 |
570.3 |
524.6 |
|
Accounts Payable |
142.2 |
125.4 |
128.3 |
90.3 |
81.4 |
|
Dividend Payable |
- |
- |
- |
0.0 |
1.5 |
|
Inc Tax Payable |
4.5 |
10.3 |
30.8 |
0.4 |
14.8 |
|
Accrued Expenses |
24.2 |
9.9 |
9.5 |
18.2 |
49.1 |
|
Advances Receivd |
67.2 |
72.3 |
52.9 |
36.4 |
38.3 |
|
Deposit Withheld |
27.3 |
28.9 |
42.4 |
45.2 |
136.3 |
|
Unearned Income |
- |
0.2 |
0.2 |
0.1 |
0.0 |
|
CL Guarnt Depo |
2.7 |
0.2 |
0.2 |
0.1 |
0.1 |
|
ST Borrowings |
770.0 |
525.8 |
568.0 |
364.6 |
241.4 |
|
CL Curr. Futures |
22.1 |
22.9 |
12.1 |
3.4 |
6.2 |
|
Advances on Confirmed Contracts |
10.8 |
4.2 |
- |
- |
- |
|
Merchand Gift |
47.7 |
32.6 |
29.8 |
11.8 |
9.6 |
|
Merchandise Advance-Confirmed Contract |
- |
- |
1.7 |
0.4 |
0.0 |
|
Currency Advance-Confirmed Contract |
- |
- |
1.3 |
- |
- |
|
Other Current Liabilities |
0.2 |
0.1 |
- |
- |
- |
|
Current LT Liab. |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Total Current Liability |
2,346.4 |
1,744.7 |
1,356.0 |
1,218.0 |
1,133.8 |
|
|
|
|
|
|
|
|
Bonds |
407.3 |
128.4 |
- |
- |
- |
|
LT Borrowings |
405.7 |
248.0 |
222.2 |
280.2 |
376.6 |
|
Capital Lease Liabilities |
33.1 |
39.2 |
55.8 |
58.8 |
0.0 |
|
Convertible Bonds |
- |
305.7 |
- |
- |
- |
|
Total Long Term Debt |
846.2 |
721.2 |
278.0 |
339.0 |
376.6 |
|
|
|
|
|
|
|
|
LT Accounts Pay |
2.1 |
3.5 |
1.8 |
5.4 |
8.8 |
|
LT Deposit Withheld |
135.6 |
140.2 |
131.4 |
135.3 |
- |
|
LT Accrued Exp |
0.0 |
0.0 |
0.0 |
1.4 |
11.8 |
|
LT Guarant Deposit |
6.4 |
6.2 |
5.8 |
7.9 |
8.0 |
|
Reserve-Sales Guarantee |
- |
1.2 |
1.3 |
0.2 |
0.1 |
|
Rsv-Contingency Loss |
111.6 |
97.0 |
98.4 |
101.1 |
95.7 |
|
Retirement Resrv |
44.8 |
37.2 |
0.9 |
0.2 |
0.2 |
|
Deposit-Retirement Insurance |
-35.3 |
-36.1 |
- |
- |
- |
|
Transfer to National Pension Fund |
-0.3 |
-0.3 |
- |
- |
- |
|
Reserve-Recovery |
3.7 |
3.4 |
1.6 |
- |
- |
|
Deferred Income Tax |
118.7 |
112.1 |
36.8 |
77.2 |
41.7 |
|
Minority Int. |
3.4 |
8.4 |
9.1 |
16.2 |
17.6 |
|
Total Liabilities |
3,583.3 |
2,838.9 |
1,921.3 |
1,901.9 |
1,694.4 |
|
|
|
|
|
|
|
|
Common Stock |
445.2 |
420.1 |
377.1 |
507.4 |
510.7 |
|
Consolidated Capital Surplus |
21.9 |
16.5 |
1.1 |
1.4 |
1.4 |
|
Consolidated Retained Earnings |
673.2 |
567.5 |
435.5 |
535.2 |
458.7 |
|
Othr Capital Adj |
-0.6 |
- |
- |
- |
-3.0 |
|
Discounts on Stock Issuance |
- |
-0.1 |
- |
- |
- |
|
Unissu Share Cap |
0.3 |
0.3 |
0.7 |
1.2 |
1.3 |
|
Capital Change, Equity Method |
126.7 |
78.7 |
13.3 |
6.7 |
38.0 |
|
G-Secs for Sale Valuation |
41.2 |
27.8 |
19.4 |
27.6 |
4.8 |
|
Negative Captial Change-Equity Method |
-3.8 |
-3.5 |
-56.8 |
-25.2 |
-29.9 |
|
Overseas Business Trans. Debit/Credit |
55.5 |
49.8 |
48.8 |
-5.4 |
-16.4 |
|
Gain-Revaluation of Tangible Assets |
37.0 |
36.1 |
- |
- |
- |
|
Total Equity |
1,396.6 |
1,193.3 |
839.0 |
1,048.9 |
965.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
4,979.9 |
4,032.2 |
2,760.3 |
2,950.8 |
2,660.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
Total Common Shares Outstandin |
101.1 |
100.8 |
100.8 |
100.8 |
100.8 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
67.2 |
72.5 |
53.0 |
36.5 |
38.3 |
|
Full-Time Employees |
1,796 |
1,431 |
1,486 |
1,494 |
1,503 |
|
Number of Common Shareholders |
45,691 |
40,785 |
37,135 |
44,406 |
38,819 |
|
Long Term Debt Maturing within 1 Year |
346.9 |
16.0 |
31.4 |
76.9 |
30.5 |
|
Long Term Debt Maturing within 2 Years |
34.5 |
44.2 |
56.8 |
63.7 |
101.6 |
|
Long Term Debt Maturing within 3 Years |
69.3 |
46.5 |
37.8 |
67.5 |
56.9 |
|
Long Term Debt Maturing within 4 Years |
118.0 |
62.5 |
36.3 |
41.4 |
60.8 |
|
Long Term Debt Maturing within 5 Years |
68.1 |
41.0 |
34.9 |
41.7 |
34.8 |
|
Long Term Debt Remaining Maturities |
127.0 |
71.1 |
78.0 |
106.4 |
184.6 |
|
Total Long Term Debt, Supplemental |
763.8 |
281.2 |
275.3 |
397.6 |
469.3 |
|
Operating Leases Due in 1 Year |
- |
- |
0.0 |
0.1 |
- |
|
Total Operating Leases |
- |
- |
0.0 |
0.1 |
- |
Interim Balance Sheet
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
KRW |
|
Exchange Rate |
1096.95 |
|
|
|
|
Cash and Cash Equivalents |
331.5 |
|
Trade Receivable |
2,553.2 |
|
Allowance for Doubtful Accounts for Trad |
-45.0 |
|
Other Receivables |
39.8 |
|
Allowance for Doubtful Accounts for Othe |
-13.0 |
|
Accrued Income |
0.9 |
|
Guarantee Deposit, Current |
2.6 |
|
Short-term Loans |
20.1 |
|
Allowance for Doubtful Accounts for Shor |
-16.7 |
|
Adjsutment for Trade and Other Receivabl |
0.0 |
|
Current Financial Deposit |
33.0 |
|
Current Held-to-Maturity Invement Assets |
0.0 |
|
Adjustment for Other Current Financial A |
0.0 |
|
Current Derivative Assets |
72.3 |
|
Current Tax Assets |
12.5 |
|
Advance Payments |
207.3 |
|
Provisions for Advance Payments |
-3.9 |
|
Prepaid Expenses Total |
3.7 |
|
Allowance for Doubtful Accounts for Prep |
-2.2 |
|
Adjustment for Other Current Assets |
0.0 |
|
Merchandises |
714.3 |
|
Finished Goods |
39.0 |
|
Semi-finished Goods |
6.6 |
|
Works in Process |
7.7 |
|
Raw Materials |
37.1 |
|
Allowance for Loss on Valuation of Raw M |
-0.6 |
|
Supplemental Raw Materials |
1.4 |
|
Supplies |
0.2 |
|
Goods in Transit |
343.6 |
|
Adjustment for Inventory |
0.0 |
|
Total Current Assets |
4,345.4 |
|
|
|
|
LT Loans |
79.6 |
|
LT Account Receivable |
1.3 |
|
Deposits Provided |
6.4 |
|
Adjustment of Long-term Trade and Other |
0.0 |
|
Other Non-Current Financial Assets |
103.3 |
|
Investment in Affiliates |
1,152.8 |
|
Land |
70.9 |
|
Buildings |
252.9 |
|
Structures |
13.2 |
|
Machinery |
437.8 |
|
Other Tangible Assets |
73.1 |
|
Construction in Progress |
34.8 |
|
Accumulated Depreciation, Total |
-404.0 |
|
Government Subsidy, Total |
-0.1 |
|
Adjustment for Tangible Assets |
0.0 |
|
Industrial Property Rights |
1.4 |
|
Mining Right |
43.6 |
|
Development Cost |
0.0 |
|
Exploration Estimate Intangible Assets |
81.6 |
|
Mine Development Intangible Assets |
652.1 |
|
Membership Right |
15.1 |
|
Other Intangible Assets |
0.1 |
|
Adjustment for Intangible Assets |
0.0 |
|
Investment in Properties |
23.8 |
|
Others in Other Non-current Assets |
14.5 |
|
Deferred Income Taxes Assets Non-current |
5.8 |
|
Total Assets |
7,005.4 |
|
|
|
|
Trade Payable |
1,175.7 |
|
Other Payables |
145.4 |
|
Dividend Payable |
18.4 |
|
Accrued Expenses |
26.4 |
|
Security Deposit Paid |
1.4 |
|
Adjustment for Trade and Other Liabiliti |
0.0 |
|
Short-term Borrowings |
2,429.0 |
|
Convertible Bonds, Current |
360.6 |
|
Derivatives in Current Liabilities |
58.0 |
|
Other Current Liabilities |
104.4 |
|
Current Tax Liabilities |
1.0 |
|
Total Current Liabilities |
4,320.4 |
|
|
|
|
Long-term Borrowings |
653.4 |
|
Bonds |
418.6 |
|
Total Long Term Debt |
1,072.0 |
|
|
|
|
LT Other Payables |
2.8 |
|
Discount for Present Value Other Payable |
-1.0 |
|
LT Accrued Expenses |
0.0 |
|
LT Guarantee Deposit |
6.2 |
|
Financial Security Deposit |
1.2 |
|
Adjustment for LT Trade and Other Liabil |
0.0 |
|
Other LT Liabilities |
11.2 |
|
Provisions for Retirement and Severance |
10.3 |
|
LT Provisions |
116.7 |
|
Deferred Income Taxes Liabilities Non-cu |
31.1 |
|
Minority Interest |
0.7 |
|
Total Liabilities |
5,571.6 |
|
|
|
|
Capital Stock |
467.9 |
|
Additional Paid-in Capital |
55.8 |
|
Gains on Sale of Treasury Stock |
0.0 |
|
Adjustment of Capital Surplus |
0.0 |
|
Capital Adjustments |
-0.6 |
|
Loss on Valuation of Available for Sale |
42.9 |
|
Capital Change, Equity Method |
193.6 |
|
Capital Change, Equity Method (Loss) |
-5.3 |
|
Overseas Business Translation Debit |
-7.2 |
|
Adjustment for Accumulated Other Compreh |
0.0 |
|
Legal Reserve |
12.0 |
|
Appropriated Retained Earnings for Volun |
659.1 |
|
Retained Earnings Before Appropriations |
15.6 |
|
Total Equity |
1,433.8 |
|
|
|
|
Total Liabilities & Shareholders' Equity |
7,005.4 |
|
|
|
|
S/O-Common Stock |
102.6 |
|
Total Common Shares Outstanding |
102.6 |
|
T/S-Common Stock |
0.0 |
|
Full-Time Employees |
1,805 |
Annual Cash Flows
As Reported
Financials in: USD
(mil)
Except for share items
(millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
102.9 |
102.6 |
71.4 |
104.7 |
117.3 |
|
Depreciation |
26.7 |
24.4 |
28.1 |
31.2 |
18.4 |
|
Amort.-Intangible |
4.7 |
4.4 |
4.8 |
4.3 |
4.1 |
|
Stock-Based Compensations |
0.0 |
0.0 |
- |
2.0 |
6.8 |
|
Provision-Doubtful Account |
7.2 |
14.7 |
- |
0.1 |
- |
|
Other Provisions-Doubtful Account |
13.6 |
23.2 |
0.3 |
- |
1.2 |
|
Accrued Interest Expense |
30.4 |
17.4 |
11.7 |
26.7 |
14.2 |
|
Provision-Sales Guarantee |
- |
- |
1.5 |
0.1 |
0.0 |
|
Retiremt Allw Reserv |
14.0 |
7.8 |
12.8 |
11.5 |
10.6 |
|
L-Trade Rcvbl Disposal |
45.6 |
51.3 |
64.0 |
45.9 |
45.0 |
|
L-For Exch Translatn |
35.6 |
17.6 |
68.0 |
17.6 |
10.3 |
|
L-Commodity Futures Valu |
46.8 |
29.6 |
34.1 |
11.9 |
9.4 |
|
Loss-Currency Forwards Transaction |
143.8 |
69.1 |
123.6 |
57.7 |
24.7 |
|
L-Commodity Futures Trade |
185.2 |
164.9 |
191.3 |
89.7 |
59.4 |
|
L-Currency Contract on Settlement Valua. |
- |
- |
6.7 |
- |
- |
|
L-Currency Futr Valu |
18.0 |
20.7 |
13.8 |
3.4 |
6.0 |
|
Loss-Reduction of Investment Assets |
2.9 |
15.1 |
3.2 |
- |
- |
|
Loss-Valuation of Inventory |
0.0 |
0.6 |
6.0 |
0.4 |
0.5 |
|
L-Tangible Asst Disp |
0.2 |
0.1 |
0.4 |
0.1 |
1.7 |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
4.7 |
- |
|
Loss-Reduction of Tangible Assets |
109.0 |
0.6 |
6.3 |
0.7 |
- |
|
Loss -Redemption of LT Borrowings |
- |
0.6 |
0.1 |
0.1 |
0.6 |
|
L-Equity Method Valu |
3.4 |
0.8 |
3.7 |
2.2 |
1.6 |
|
Loss-Investment Assets Disposal |
1.6 |
1.1 |
- |
0.4 |
0.2 |
|
Reserve-Recovery |
0.2 |
0.1 |
- |
- |
- |
|
Loss-Valuation of Contract on Settlement |
85.2 |
27.7 |
24.5 |
28.9 |
25.6 |
|
Contingency Loss |
15.1 |
1.8 |
2.4 |
2.8 |
2.6 |
|
Other Non-Operating Expense |
0.3 |
0.3 |
- |
- |
- |
|
G-Commodity Futures Valu |
-19.2 |
-15.7 |
-11.9 |
-4.7 |
-5.5 |
|
Recovery-Contingency Loss Reserve |
-6.4 |
-4.6 |
- |
-0.5 |
- |
|
G-Currency Contract on Settlement Valua. |
- |
- |
-3.4 |
- |
- |
|
Gain-Commodity Futures Transaction |
-156.2 |
-128.3 |
-169.1 |
-96.7 |
-76.9 |
|
G-Currency Futr Valu |
-25.6 |
-16.0 |
-10.4 |
-3.7 |
-4.1 |
|
Gain-Currency Forwards Transaction |
-145.2 |
-90.0 |
-130.5 |
-30.1 |
-31.7 |
|
G-Inv.Asset Disp |
- |
-12.4 |
-9.6 |
-13.6 |
-10.9 |
|
G-Tangible Asst Disp |
-0.9 |
-0.6 |
-0.2 |
-0.3 |
-0.1 |
|
Interest Received |
-0.8 |
-1.4 |
-1.9 |
-0.9 |
-1.2 |
|
G-Equity Method Valu |
-176.2 |
-121.8 |
-68.0 |
-118.9 |
-109.1 |
|
Recovery-Inventory Valuation Loss |
-0.4 |
-4.3 |
- |
-1.1 |
- |
|
G-For Exch Translatn |
-37.3 |
-30.3 |
-85.1 |
-18.1 |
-27.1 |
|
Gain-Valuation of Contract on Settlement |
-113.7 |
-69.3 |
-62.5 |
-32.3 |
-12.0 |
|
Recovery-Loan Loss Reserve |
-0.3 |
-3.0 |
-2.1 |
- |
-1.4 |
|
Gain-Other Non-Operating |
0.0 |
-3.7 |
-0.2 |
-4.3 |
-5.2 |
|
Gain on disposal of Subsidiaries |
- |
-4.8 |
- |
- |
- |
|
Trade Receivables |
-342.9 |
-148.6 |
-211.3 |
41.3 |
-43.6 |
|
Accrued Income |
-1.3 |
0.9 |
1.6 |
-1.3 |
0.4 |
|
Account Receivable |
-26.9 |
11.2 |
-13.7 |
18.2 |
19.3 |
|
Prepaid Expenses |
3.9 |
0.1 |
-0.5 |
2.5 |
0.3 |
|
Advance Payments |
-69.7 |
0.0 |
12.5 |
-10.7 |
1.8 |
|
Prepaid Taxes |
- |
- |
- |
- |
4.7 |
|
Inventory |
-452.9 |
23.0 |
-131.2 |
19.0 |
-121.8 |
|
LT Trade Rcvbls |
- |
- |
- |
0.3 |
5.2 |
|
LT Account Rcvbls |
- |
- |
- |
- |
6.9 |
|
Merchandise Settlement Contracts |
23.8 |
39.5 |
35.9 |
4.4 |
-17.3 |
|
Currency Settlement Contracts |
- |
- |
-3.3 |
- |
- |
|
Deferred Taxes-Asset |
-22.5 |
35.1 |
-30.0 |
23.8 |
24.7 |
|
Other Current Assets |
- |
- |
-0.6 |
0.0 |
0.0 |
|
Trade Payables |
-45.8 |
403.6 |
26.3 |
28.7 |
29.6 |
|
Account Payables |
28.2 |
-7.4 |
58.4 |
16.3 |
11.9 |
|
Accrued Dividends |
- |
- |
- |
-1.7 |
-0.1 |
|
Accrued Expenses |
6.7 |
4.8 |
-3.7 |
-41.0 |
5.1 |
|
LT Accrued Expenses |
- |
0.0 |
-1.0 |
-9.3 |
-6.0 |
|
Dividend Received from Affiliates |
24.9 |
21.7 |
35.0 |
- |
- |
|
Accrued Inc Tax |
-6.0 |
-20.8 |
34.0 |
-14.6 |
12.5 |
|
Unearned Income |
- |
- |
0.1 |
0.2 |
-0.1 |
|
Advances Received |
-8.0 |
17.4 |
29.6 |
0.5 |
13.6 |
|
Other Current Liabilities |
0.0 |
0.1 |
- |
- |
- |
|
Deposits Withheld |
1.5 |
-18.0 |
9.6 |
0.5 |
23.3 |
|
Reserve-Sales Guarantee |
- |
-0.3 |
-0.1 |
-0.2 |
0.1 |
|
Nation Pension Fnd |
0.0 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Retiremt Allow Paymt |
-7.7 |
-10.7 |
-9.8 |
-9.6 |
-8.4 |
|
Retire Deposit A/L |
1.7 |
2.7 |
-0.4 |
-3.2 |
-2.6 |
|
Reserve-Contingent Loss |
0.1 |
0.3 |
- |
- |
- |
|
Overseas Business Translation Debit |
-0.2 |
35.9 |
64.5 |
5.3 |
-8.0 |
|
Cash from Operating Activities |
-683.0 |
481.3 |
25.4 |
191.7 |
26.7 |
|
|
|
|
|
|
|
|
Dec-ST Finl Asset |
4.0 |
6.0 |
59.1 |
50.3 |
5.6 |
|
Dec-ST Loans |
6.0 |
0.3 |
10.8 |
4.2 |
1.9 |
|
Decrease-LT Loans |
0.0 |
1.9 |
- |
7.0 |
- |
|
Decrease-LT Account Receivable |
- |
5.2 |
- |
4.0 |
- |
|
Dec-Guarantee Dep |
0.8 |
2.2 |
3.3 |
6.2 |
5.4 |
|
Dec-Currency Future |
- |
18.0 |
133.6 |
34.3 |
36.7 |
|
Dec-Future |
14.0 |
- |
- |
- |
- |
|
Dec-Marketable Secs |
- |
0.0 |
0.0 |
0.0 |
0.7 |
|
Dec-Investment Secs |
0.0 |
3.0 |
10.7 |
17.9 |
0.8 |
|
Disp-Equity Investment Sec. |
0.3 |
- |
- |
6.6 |
29.3 |
|
Disp-Other Investment Asset |
- |
0.0 |
- |
- |
0.1 |
|
Disposal-Land |
0.3 |
0.2 |
- |
- |
- |
|
Disposal of Building |
4.1 |
0.3 |
1.6 |
2.7 |
2.4 |
|
Disp-Structure |
0.1 |
- |
- |
0.0 |
0.1 |
|
Disp-Machinery |
18.5 |
0.1 |
0.0 |
6.3 |
3.5 |
|
Disp-Vehicles |
0.6 |
0.2 |
0.2 |
0.1 |
0.8 |
|
Disposal-Tools & Supplies |
0.5 |
0.0 |
- |
0.0 |
- |
|
Disp-Merchand Options |
0.7 |
0.1 |
0.0 |
0.1 |
1.1 |
|
Disp-Commodity Futures |
- |
- |
173.1 |
102.4 |
83.9 |
|
Disposal-Other Intangible Assets |
- |
2.0 |
- |
- |
- |
|
Inc-ST Finl Asset |
-21.2 |
- |
- |
- |
- |
|
Increase-LT Financial Assets |
- |
0.0 |
- |
- |
- |
|
Inc-ST Loans |
4.4 |
-1.6 |
-13.6 |
-9.7 |
-2.2 |
|
Inc-Currency Future |
-2.6 |
- |
- |
- |
- |
|
Increase-LT Loans |
-23.1 |
-5.3 |
0.0 |
-8.9 |
- |
|
Increase-LT Account Receivable |
- |
- |
- |
-4.2 |
- |
|
Inc-Guarantee Dep |
-5.4 |
-5.5 |
-2.5 |
-2.4 |
-7.3 |
|
Investment for Natural Resources Dev. |
- |
12.9 |
- |
- |
- |
|
Inc-Currency Futures |
- |
- |
-126.4 |
-63.9 |
-25.6 |
|
Acq-Merchand Options |
-58.5 |
-55.6 |
-201.3 |
-99.4 |
-63.6 |
|
Increase-Other Investment Assets |
- |
- |
- |
-0.2 |
- |
|
Inc-Investment Secs |
-2.4 |
-1.9 |
-16.1 |
-0.6 |
-8.6 |
|
Inc-Equity Investment Sec. |
-73.0 |
-57.5 |
-27.2 |
-98.9 |
-5.9 |
|
Increase-Land |
-0.3 |
0.0 |
- |
- |
- |
|
Acq-Building |
-4.6 |
-11.3 |
-0.2 |
-1.0 |
-0.1 |
|
Acq-Structure |
-1.9 |
-1.1 |
-0.1 |
-0.2 |
-0.1 |
|
Acq-Machinery |
-10.5 |
-30.6 |
-1.6 |
-2.7 |
-2.7 |
|
Acq-Fixtures |
-4.1 |
-3.7 |
-4.5 |
-3.0 |
-1.6 |
|
Acq-Vehicles |
-3.6 |
-2.5 |
-0.9 |
-1.8 |
-1.1 |
|
Acq-Tools/Equipmt |
-0.9 |
-0.2 |
- |
-0.2 |
-0.2 |
|
Acq-Constructn Prog |
-27.8 |
-1.0 |
-3.0 |
-1.1 |
-2.2 |
|
Acq-Resource Dev't C |
-159.8 |
-112.1 |
-131.0 |
-107.6 |
-71.2 |
|
Acq-Other Intangible |
-49.3 |
-0.3 |
-5.1 |
-3.1 |
-3.7 |
|
Cash from Investing Activities |
-394.7 |
-237.8 |
-141.1 |
-166.8 |
-23.9 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
227.3 |
- |
294.3 |
129.6 |
196.8 |
|
Inc-LT Borrowing |
133.9 |
28.2 |
24.0 |
12.8 |
4.6 |
|
Increase-Capital Lease Liabilities |
-8.2 |
- |
- |
- |
- |
|
Increase-Bond |
271.6 |
117.0 |
- |
- |
- |
|
Increase-Convertible Bond |
- |
292.5 |
- |
- |
- |
|
Inc-LT Guarant Dep |
0.0 |
- |
35.2 |
0.8 |
0.8 |
|
Inc-Government Subsidy |
0.1 |
0.0 |
0.2 |
0.5 |
0.7 |
|
Increase-LT Deposit Withheld |
10.3 |
- |
1.6 |
49.4 |
- |
|
Increase-LT Accrued Payment |
- |
2.8 |
- |
- |
- |
|
Dec-Curr LT Liabs |
-19.8 |
-54.0 |
-71.9 |
-44.5 |
-43.0 |
|
Dec-ST Borrowings |
-3.3 |
-83.8 |
- |
- |
-167.4 |
|
Dec-LT Borrowings |
-5.1 |
-34.5 |
-50.9 |
-71.7 |
-44.3 |
|
Dec-LT Guarant Depo |
- |
-0.1 |
-1.6 |
-0.9 |
-0.8 |
|
Decrease-LT Deposit Withheld |
- |
-1.7 |
- |
- |
- |
|
Dec-LT Account Payables |
- |
- |
- |
- |
-0.2 |
|
Dec-Government Subsidy |
-0.1 |
-0.1 |
-0.4 |
-0.1 |
-0.3 |
|
Increase-Discount on Stock Issuance |
-0.1 |
-0.1 |
- |
- |
- |
|
Dividends Paid |
-4.2 |
-3.7 |
-30.2 |
-4.9 |
-2.1 |
|
Consolid Scope Adj |
3.0 |
6.8 |
- |
-0.9 |
0.9 |
|
Cash from Financing Activities |
605.5 |
269.4 |
200.4 |
69.9 |
-54.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.8 |
-3.2 |
3.8 |
0.7 |
0.5 |
|
Net Change in Cash |
-476.0 |
509.8 |
88.5 |
95.5 |
-50.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
843.3 |
254.2 |
206.2 |
148.8 |
195.7 |
|
Net Cash - Ending Balance |
367.3 |
764.0 |
294.8 |
244.3 |
144.7 |
Interim Cash Flows
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1120.28956 |
1145.278736 |
|
|
|
|
|
Net Income |
2.4 |
27.1 |
|
Depreciation |
4.5 |
2.3 |
|
Amortization of Intangible Assets |
1.0 |
1.0 |
|
Depreciation-Investment Real Estate |
0.1 |
0.1 |
|
Defined Benefit Liabilities |
2.3 |
5.1 |
|
Expenses of Allowance for Doubtful Accou |
0.6 |
- |
|
Compensation Expenses Associated with St |
0.0 |
0.0 |
|
Accrued Interest Expense |
23.0 |
19.5 |
|
Losses on Foreign Currency Translation |
65.5 |
51.9 |
|
Loss-Derivatives Transaction |
84.6 |
80.5 |
|
Losses on Valuation of Derivatives |
51.3 |
57.8 |
|
Losses on Sale of Property, Plant and Eq |
0.1 |
0.0 |
|
Loss-Sale of Investment in Affiliates |
- |
0.4 |
|
Loss on Investment in Affiliates |
4.6 |
0.2 |
|
Corporate Taxes |
2.7 |
7.2 |
|
Losses on Valuation of Inventories |
- |
0.2 |
|
Losses on Valuation of Convertible Bond |
7.0 |
23.8 |
|
Interest Income |
-1.9 |
-2.4 |
|
Dividend Income |
0.0 |
-0.2 |
|
Gains on Foreign Currency Translation |
-71.4 |
-58.6 |
|
Gain-Derivatives Transaction |
-68.1 |
-85.8 |
|
Gains on Valuations of Derivatives |
-39.8 |
-43.9 |
|
Recovery-Doubtful Credit Reserve |
-0.1 |
-0.3 |
|
Gains on Sale of Property, Plant and Equ |
0.0 |
-0.1 |
|
Gain on Invesment in Affiliates |
-4.6 |
-33.8 |
|
Provision for Liability Reserve |
0.5 |
0.5 |
|
Gain-Financial Guarantees |
0.0 |
0.0 |
|
Other Receivables |
77.7 |
6.0 |
|
Accrued Revenues |
-1.0 |
-0.1 |
|
Trade Receivables |
-444.8 |
-424.8 |
|
Inventories |
-240.3 |
-5.9 |
|
Advanced Payment |
-20.7 |
-27.7 |
|
Prepaid Expenses |
4.6 |
1.3 |
|
Value Added Taxes |
-13.4 |
9.5 |
|
Derivatives Assets |
-51.9 |
-20.3 |
|
Long-term Prepaid Expenses |
0.2 |
- |
|
Increase-Other Non-Current Assets, Opera |
-0.2 |
2.1 |
|
Trade Payables |
241.7 |
256.8 |
|
Other Payables |
-4.4 |
-24.6 |
|
Increase or Decrease in Withholdings |
21.0 |
-3.0 |
|
Accrued Expenses |
0.3 |
-4.7 |
|
Advances from Customers |
-13.6 |
13.9 |
|
Other Current Liabilities |
-2.6 |
1.0 |
|
Payment-Retirement Allowance |
-0.2 |
-2.3 |
|
Cumulative Assets outside Company |
-7.0 |
1.6 |
|
Cash-Interest Received |
1.4 |
2.2 |
|
Dividends Received |
4.1 |
4.0 |
|
Cash-Interest Paid |
-18.6 |
-12.9 |
|
Cash-Tax Paid |
-8.9 |
-15.2 |
|
Cash from Operating Activities |
-412.1 |
-190.8 |
|
|
|
|
|
Decrease in Short-term Loans |
5.4 |
-0.2 |
|
Decrease in Long-term Loans |
4.3 |
0.0 |
|
Proceeds from Sale of ST Financial Instr |
164.8 |
0.0 |
|
Proceeds from Sale of Available for sale |
0.0 |
0.0 |
|
Proceeds from Sale of Investment in Affi |
- |
0.4 |
|
Decrease in Deposits Provided |
-0.2 |
0.1 |
|
Proceeds from Sale of Land |
- |
0.2 |
|
Proceeds from Sale of Buildings |
- |
0.2 |
|
Proceeds from Sale of Machinery |
0.0 |
40.2 |
|
Proceeds from Sale of Vehicles |
-0.1 |
0.6 |
|
Proceeds from Sale of Tools |
0.0 |
0.1 |
|
Proceeds from Sale of Office Equipment |
0.0 |
0.2 |
|
Proceeds from Sale of Mining Right |
0.4 |
-0.9 |
|
Increase in Short-term Loans |
-4.5 |
-0.8 |
|
Increase in Long-term Loans |
-41.6 |
-5.9 |
|
Decrease-LT Account Receivable |
0.0 |
-2.2 |
|
Purchase of Short-term Financial Instrum |
-160.3 |
0.3 |
|
Purchase of Available for sale Securitie |
-0.1 |
-0.9 |
|
Purchase of Investment in Affiliates |
-8.2 |
-2.3 |
|
Purchase of Deposits Provided |
0.3 |
-0.3 |
|
Purchase of Land |
- |
0.0 |
|
Purchase of Buildings |
- |
-0.1 |
|
Purchase of Structures |
0.0 |
- |
|
Purchase of Machinery |
-28.2 |
0.0 |
|
Purchase of Vehicles |
-0.2 |
-0.5 |
|
Purchase of Tools |
0.0 |
-0.6 |
|
Purchase of Office Equipment |
-1.2 |
-0.8 |
|
Purchase of Construction in Progress |
-16.5 |
-0.4 |
|
Purchase of Industrial Property Rights |
-0.1 |
- |
|
Purchase of Other Intangible Assets |
-46.5 |
-70.2 |
|
Cash from Investing Activities |
-132.8 |
-43.8 |
|
|
|
|
|
Proceeds from Short-term Borrowings |
527.3 |
92.8 |
|
Proceeds from Long-term Borrowings |
3.5 |
9.7 |
|
Increase-Subsidy from Government |
- |
0.0 |
|
Repayments of Short-term Borrowings |
-55.7 |
-427.5 |
|
Decrease-Current Portion of Borrowings |
-3.1 |
- |
|
Repayments of Long-term Borrowings |
-3.0 |
-3.0 |
|
Decrease-Government Subsidy |
- |
-0.1 |
|
Increase-Expense for Stock Issuance |
0.0 |
-0.1 |
|
Cash from Financing Activities |
469.1 |
-328.1 |
|
|
|
|
|
Foreign Exchange Effects |
-2.7 |
-0.8 |
|
Net Change in Cash |
-78.5 |
-563.5 |
|
|
|
|
|
Cash and Cash Equivalent at Beginning |
403.1 |
860.2 |
|
Cash and Cash Equivalent at End |
324.6 |
296.6 |
|
Cash Interest Paid |
18.6 |
12.9 |
|
Cash Taxes Paid |
8.9 |
15.2 |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
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Geographic Segments
Financials in: As Reported (mil)
|
Interim |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Segments
Financials in: As Reported (mil)
|
Annual |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Business Segments
Financials in: As Reported (mil)
|
Interim |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
|
UK Pound |
1 |
Rs.75.52 |
|
Euro |
1 |
Rs.66.53 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.