MIRA INFORM REPORT
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Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KP CHEMICAL CORPORATION |
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Registered Office : |
427-3, Sanggae-Dong, Nam-Gu, Ulsan, 680-180 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.12.2001 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
provision of petrochemicals |
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 : |
Usually Correct |
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Litigation : |
Clear |
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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South korea
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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
KP Chemical Corporation
427-3, Sanggae-Dong
Nam-Gu
Ulsan, 680-180
Korea, Republic of
Tel: 82-2-8400000
Fax: 82-2-8407120
Web: www.kpchem.co.kr
synthesis
Employees: 600
Company Type: Public Subsidiary
Corporate Family: 5
Companies
Ultimate Parent: Honam Petrochemical Corp.
Traded: Korea Stock Exchange: 064420
Incorporation Date:
28-Dec-2001
Auditor: PricewaterhouseCoopers LLP
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: South
Korean Won
Annual Sales: 2,672.4 1
Net Income: 156.5
Total Assets: 1,429.9 2
Market Value: 1,803.9
(02-Sep-2011)
Business Description
KP Chemical
Corporation is a Korea-based manufacturer engaged in the provision of
petrochemicals. The Company's product portfolio consists of purified
terephthalic acid (PTA), which is used as the raw materials of polyester
fibers, video and audio films, and polyethylene terephthalate (PET) bottles;
purified isophthalic acid (PIA), which is used as the raw materials by the
chemical industries and applied to paints, adhesives and coating materials, as
well as paraxylene (PX), ortho-xylene (OX), meta-xylene (MeX),
benzene-toluene-xylene (BTX), and other related products. The Company exports
its products to China, Russia, Europe, the United States, Southeast Asia and
others. As of December 31, 2010, the Company had seven listed affiliated
companies, as well as 65 un-listed affiliated companies. For the fiscal year
ended 31 December 2010, KP Chemical Corporation's revenues increased 12% to
W3.090T. The Company's net income increased 10% to W180.94B. Revenues reflect
increased domestic and exporting sales of PTA and OX products. Net income was
partially offset by lower gain on foreign exchange transaction and exclusion of
gain on assets contributed, as well as inclusion of loss on disposal of
securities under equity method.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1812 - Basic
Organic Chemical Manufacturing
NACE 2002: 2414 - Manufacture
of other organic basic chemicals
NAICS 2002: 32511 -
Petrochemical Manufacturing
UK SIC 2003: 2414 - Manufacture
of other organic basic chemicals
US SIC 1987: 2869 - Industrial
Organic Chemicals, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Su Yeong Huh |
President, Chief Executive Officer, Director |
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Su Yeong Huh |
Chief Executive Officer |
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Byung Yong Na |
Auditor |
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Jae Ok Choi |
Chief Sales Officer |
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Doo Hyun Lee |
Managing Director-Technology |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Dividends |
1 |
KP Chemical Corporation Declares Annual Cash Dividend for FY 2010 |
25-Feb-2011 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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Asian OX
faces rate cuts |
16-May-2011 |
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PAKISTAN
PRESIDENT CALLS FOR MORE INVESTMENT FROM S. KOREA |
29-Apr-2011 |
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Various
sectors offered to Korea |
29-Apr-2011 |
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Zardari
invites Korean entrepreneurs to invest in Pak |
28-Apr-2011 |
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BoI asks
Korean firms to take advantage of liberal investment policies |
28-Apr-2011 |
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Financial Summary
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As of 31-Dec-2010 |
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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
Corporate Overview
Location
427-3, Sanggae-Dong
Nam-Gu
Ulsan, 680-180
Korea, Republic of
Tel: 82-2-8400000
Fax: 82-2-8407120
Web: www.kpchem.co.kr
Quote Symbol - Exchange
064420 - Korea
Stock Exchange
Sales KRW(mil): 3,090,046.0
Assets KRW(mil): 1,622,806.5
Employees: 600
Fiscal Year End: 31-Dec-2010
Industry: Chemical Manufacturing
Incorporation Date: 28-Dec-2001
Company Type: Public Subsidiary
Quoted Status: Quoted
President, Chief
Executive Officer,
Director: Su Yeong Huh
Company Web Links
Home Page
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Market Data
· Shareholders
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1813 - Basic Inorganic Chemical Manufacturing
1829 - Other Basic Polymer Manufacturing
1821 - Synthetic Resin and Synthetic Rubber Manufacturing
1812 - Basic Organic Chemical Manufacturing
1899 - Other Basic Chemical Product Manufacturing Not Elsewhere
Classified
NACE 2002 Codes:
2414 - Manufacture of other organic basic chemicals
2466 - Manufacture of other chemical products not elsewhere
classified
2470 - Manufacture of man-made fibres
2416 - Manufacture of plastics in primary forms
2413 - Manufacture of other inorganic basic chemicals
NAICS 2002 Codes:
325221 - Cellulosic Organic Fiber Manufacturing
325998 - All Other Miscellaneous Chemical Product and Preparation
Manufacturing
32511 - Petrochemical Manufacturing
325222 - Noncellulosic Organic Fiber Manufacturing
325188 - All Other Basic Inorganic Chemical Manufacturing
325211 - Plastics Material and Resin Manufacturing
US SIC 1987:
2821 - Plastics Materials, Synthetic Resins, and Nonvulcanizable
Elastomers
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
2823 - Cellulosic Manmade Fibers
2824 - Manmade Organic Fibers, Except Cellulosic
2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified
2899 - Chemicals and Chemical Preparations, Not Elsewhere
Classified
UK SIC 2003:
2416 - Manufacture of plastics in primary forms
2413 - Manufacture of other inorganic basic chemicals
2414 - Manufacture of other organic basic chemicals
2466 - Manufacture of other chemical products not elsewhere
classified
2470 - Manufacture of man-made fibres
Business
Description
KP Chemical
Corporation is a Korea-based manufacturer engaged in the provision of
petrochemicals. The Company's product portfolio consists of purified
terephthalic acid (PTA), which is used as the raw materials of polyester
fibers, video and audio films, and polyethylene terephthalate (PET) bottles;
purified isophthalic acid (PIA), which is used as the raw materials by the
chemical industries and applied to paints, adhesives and coating materials, as
well as paraxylene (PX), ortho-xylene (OX), meta-xylene (MeX),
benzene-toluene-xylene (BTX), and other related products. The Company exports
its products to China, Russia, Europe, the United States, Southeast Asia and
others. As of December 31, 2010, the Company had seven listed affiliated
companies, as well as 65 un-listed affiliated companies. For the fiscal year
ended 31 December 2010, KP Chemical Corporation's revenues increased 12% to
W3.090T. The Company's net income increased 10% to W180.94B. Revenues reflect
increased domestic and exporting sales of PTA and OX products. Net income was
partially offset by lower gain on foreign exchange transaction and exclusion of
gain on assets contributed, as well as inclusion of loss on disposal of
securities under equity method.
More Business
Descriptions
· Production of specialised petrochemical products including purified Terephtalic acid
· Petrochemical Manufacturing
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The Strategic
Initiatives report is created using technology to extract meaningful insights
from analyst reports about a company's strategic projects and investments. More
about Strategic Initiatives
Strategic Initiatives
Product
The company
produces 750,000tons of P-X, 160,000tons of MeX and 200,000tons of PIA products
annually. The company’s research and development activities include the
development of new polymer materials as well as high-tech manufacturing
technologies based on PIA and PTA. In addition, the company is also involved in
developing environmentally friendly resins in collaboration with world's top
resin producers. It develops latest technologies in collaboration and through
strategic technological partnerships with industries, academic, and research
institutions. The company is presently developing high performance specialty
chemical products, used as a raw material in the high gas barrier resin and
epoxy production.GlobalData uses a range of research techniques to gather and
verify its information and analysis.
The company’s
research and development activities include the development of new polymer
materials as well as high-tech manufacturing technologies based on PIA and PTA.
In addition, the company is also involved in developing environmentally
friendly resins in collaboration with world's top resin producers. It develops
latest technologies in collaboration and through strategic technological
partnerships with industries, academic, and research institutions. The company
is presently developing high performance specialty chemical products, used as a
raw material in the high gas barrier resin and epoxy production.GlobalData uses
a range of research techniques to gather and verify its information and
analysis. These include primary research, in-house knowledge and expertise,
proprietary databases, and secondary sources such as company websites, annual
reports, SEC filings and press releases.
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Corporate
Family |
Corporate
Structure News: |
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KP Chemical Corporation |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Seoul |
Korea, Republic of |
Chemical Manufacturing |
10,726.8 |
1,557 |
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Subsidiary |
Damansara |
Malaysia |
Chemical Manufacturing |
1,591.4 |
1,005 |
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Subsidiary |
Pasir Gudang, Johor |
Malaysia |
Chemicals - Plastics and Rubber |
1,569.7 |
1,020 |
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Subsidiary |
Pasir Gudang, Johor |
Malaysia |
Chemical Manufacturing |
676.7 |
40 |
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Subsidiary |
Ulsan |
Korea, Republic of |
Chemical Manufacturing |
2,672.4 |
600 |
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Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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President, Chief Executive Officer, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Chief Executive Officer |
Chief Executive Officer |
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President, Chief Executive Officer, Director |
Chief Executive Officer |
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Managing Director-Technology |
Managing Director |
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Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Chief Operating Officer |
Operations Executive |
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Auditor |
Finance Executive |
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Chief Sales Officer |
Sales Executive |
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Significant Developments
KP Chemical Corporation Declares Annual Cash Dividend for FY 2010 Feb 25, 2011
KP Chemical Corporation announced that it has declared an annual cash dividend of KRW 150 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 0.8% and the total amount of the cash dividend is KRW 14,749,809,300.
Press clippings
Asian OX faces
rate cuts
ICIS Chemical
Business: 16 May 2011
[What follows is
the full text of the news story.]
Operating rates
are to be reduced at Asian orthoxylene (OX) plants, further straining the
aromatic's availability in the region in the coming months.
Production is set
to be impacted as key sellers react to the rising price of feedstock isomer
grade mixed xylene (MX).
The cost of MX on
May 4 had climbed by $25/tonne (�17/tonne) from the week before, pushing it
up to $1,335-1,345/tonne CFR (cost & freight) NE (Northeast) Asia - the
highest range since July 2008.
The upturn was
blamed on strong demand from paraxylene (PX) - a co-product of OX.
As a result, South
Korean OX producers were planning to ease output. SK Chemical Global will be
reducing rates at its two 100,000 tonne/year Ulsan plants, whereas KP Chemical
had halved operating rates at its facility in the city because of eroded
margins.
PX is thriving
There has also
been a marked impact on exports. Producers in Taiwan, CPC Corp. and Formosa
Chemical and Fibre Corp. stopped OX exports in April, to focus on the more
lucrative PX market. Meanwhile, falling exports from Singapore have also led
US-based ExxonMobil to scale back production rates.
"PX demand
has been very strong recently. Partly this has been due to rising cotton
prices, which mean manufacturers have been shifting to higher polyester use in
cotton/polyester blends, to reduce cost pressures," said Paul Hodges,
chairman of UK-based chemical consultancy International eChem.
"In addition,
there are signs that refiners are seeking higher prices for mixed xylene, to
match rising extraction costs from reformate. OX is very much a by-product
these days, so a squeeze on PX can hit it very badly. And, of course the
Japanese disaster certainly also reduced overall PX production in Asia as
well."
Derivative markets
were also said to be feeling the pressure, according to one end user.
Phthalic anhydride
(PA) makers were bearing the brunt of the poor OX availability and weak
margins, with some slashing rates to 70-80%. The source said players could not
absorb any additional OX price hikes.
TEMPORARY OR NOT?
The question
remains whether the OX supply issues will only be temporary, and what the
longer term effect will be. Hodges added: "Will it be long-lasting? This
depends on your view of the underlying risks to the current economic recovery.
"If you
believe much of this has been built on excess liquidity from China and the US,
rather than fundamentals, then you might worry that demand might well begin to
reduce as these stimulus measures end," he said.
By May 6, prices
for Asian isomer-grade MX had bucked the recent trend and decreased by about
$30-40/tonne after a sharp overnight drop in WTI crude futures.
Spot MX for any
June delivery was offered at $1,300/tonne CFR Taiwan, with buying indications
below $1,280/tonne.
"OX is very
much a
by-product these
days, so a squeeze
on
PX can hit it
badly"
PAUL HODGES
Chairman, International
eChem
PAKISTAN PRESIDENT CALLS FOR MORE INVESTMENT FROM
S. KOREA
Asia Pulse Businesswire: 29 April 2011
[What follows is the full text of the news story.]
ISLAMABAD, April
29Asia Pulse - Pakistan's President Asif Ali Zardari on Wednesday invited
Korean entrepreneurs to invest in the country's oil and gas, mining, energy,
telecom, agriculture and tourism sectors.
Zardari made the
comment while receiving Huh Soo Young, president and chief executive officer of
petrochemicals firm KP Chemical Corporation (KSE:064420), a subsidiary of the
South Korean conglomerate Lotte.
President Zardari
said the government had devised a liberal incentives package for attracting
robust foreign direct investment in special economic zones in Pakistan with
special concessions which in return would create employment opportunities for
the people of Pakistan.
The president said
that the existing level of trade between Korea and Pakistan is far below its
real potential and urged for further enhancing bilateral trade and investment
ties between the two countries.
Zardari said
investment made by the KP Chemical and Lotte Group gives a positive message
across the world that Pakistan is a safe place for investment and expressed the
hope that more such big business groups from Korea and other countries will be
making investment in Pakistan in the near future.
The spokesperson
said that the visiting entrepreneur informed that Korean firm was interested to
make investment in food, beverages, hotel, tourism, power and oil, and gas
sectors in Pakistan and added that Lotte Group was also exploring further
opportunities and avenue for investment in various sectors in Pakistan.
The president
appreciated their interest in making investment in Pakistan and assured that
the government will extend maximum support to the Korean firm in realizing
their investment objectives.
Lotte Group is the
largest overseas South Korean group and currently ranked amongst the top five
companies in Korea with an annual turnover of US$40 billion. Lotte Group has
recently acquired Pure Terephthalic Acid (PTA) plant of ICI Pakistan and have
invested US$50 million in setting up a captive power generation plant.
Various sectors offered to Korea
South Asian Media Network (Pakistan): 29 April 2011
[What follows is the full text of the news story.]
ISLAMABAD, April
29 -- President Asif Ali Zardari on Wednesday invited Korean entrepreneurs to
invest in Pakistan's various sectors including oil and gas, mining, energy,
telecom, agriculture and tourism. He was talking to Huh Soo Young, President
and Chief Executive Officer of KP Chemical Corporation, a petrochemicals
company and a subsidiary of the South Korean conglomerate LOTTE, at the
Aiwan-e-Sadr. President Zardari said the government had devised a liberal incentives
package for attracting robust foreign direct investment in special economic
zones in Pakistan with special concessions which in return would create
employment opportunities for the people of Pakistan. The President while
welcoming the Korean business delegation to Pakistan said that the existing
level of trade between Korea and Pakistan is far below its real potential and
urged for further enhancing bilateral trade and investment ties between the two
countries. The President said investment made by the KP Chemicals and Lotte
Group gives a positive message across the world that Pakistan is a safe place
for investment and expressed the hope that more such big business groups from
Korea and other countries will be making investment in Pakistan in the near future.
The spokesperson said that the visiting entrepreneur informed that Korean firm
was interested to make investment in food, beverages, hotel, tourism, power and
oil, and gas sectors in Pakistan and added that Lotte group was also exploring
further opportunities and avenue for investment in various sectors in Pakistan.
The President appreciated their interest in making investment in Pakistan and
assured that the government will extend maximum support to the Korean firm in
realising their investment objectives. Lottee Group, Korea, the largest
overseas south Korean Group is currently ranked amongst the top five companies
in Korea with an annual turnover of $40 billion. Lottee group has recently
acquired Pure Terephthalic Acid (PTA) plant of ICI Pakistan and have invested
$50 million in setting up a captive power generation plant. The CEO KP
Chemicals was accompanied by Asif Saad, CEO, Lotte Pakistan PTA, Shin Un,
advisor Lotte Group, Lim Byung, MD Lotte corporate headquarter and Kim Jung
Neon, ED Lotte Pakistan PTA. Choi Choong- Jee, South Korean ambassador in
Pakistan was also present. From Pakistan side, Makhdoom Shahabuddin, Minister
for Textile Industry, Salman Faruqui, Secretary General, Saleem H Mandviwalla,
Chairman BOI, Dr Nadeem-ul Haq, Deputy Chairman Planning Commission, Malik Asif
Hayat, Secretary to President, Dr Safdar Suhail, Director General, Commerce
Ministry and other senior officials attended the meetin Published by HT
Syndication with permission from South Asian Media Network. For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
Zardari invites
Korean entrepreneurs to invest in Pak
Daily Times
(Pakistan): 28 April 2011
[What follows is
the full text of the news story.]
ISLAMABAD, April
28 -- President Asif Ali Zardari on Wednesday invited Korean entrepreneurs to
invest in various sectors of Pakistan including oil and gas, mining, energy,
telecom, agriculture and tourism.
The President
Zardari was talking to Huh Soo Young, President and Chief Executive Officer of
KP Chemical Corporation, a petrochemicals company and a subsidiary of the South
Korean conglomerate LOTTE.
President Zardari
said the government had devised a liberal incentives package for attracting
robust foreign direct investment in special economic zones in Pakistan with
special concessions, "which in turn would create employment opportunities
for the people of Pakistan."
The President while
welcoming the Korean business delegation to Pakistan said that the existing
level of trade between Korea and Pakistan is far below its real potential and
called for further enhancing bilateral trade and investment ties between the
two countries. The President said investment made by the KP Chemicals and Lotte
Group has sent a positive message across the world that "Pakistan is a
safe place for investment" and hoped that more business groups from Korea
and other countries will be making investment in Pakistan in the near future.
The spokesperson
of the President informed a Korean firm was interested to make investment in
food, beverages, hotel, tourism, power and oil, and gas sectors in Pakistan-
while Lotte group was also exploring further opportunities and avenue for
investment in various sectors in Pakistan. Published by HT Syndication with
permission from Daily Times. For any query with respect to this article or any
other content requirement, please contact Editor at
htsyndication@hindustantimes.com
BoI asks Korean firms to take advantage of liberal
investment policies
Daily Times (Pakistan): 28 April 2011
[What follows is the full text of the news story.]
ISLAMABAD, April
28 -- Chairman of the Board of Investment (BoI) Saleem H Mandviwalla Wednesday
invited the KP Chemical Korea to take advantage of the government's liberal
policies to make further investment in Pakistan. A high-level delegation of KP
Chemical headed by Soo Young Huh, CEO of KP Chemical Korea, a subsidiary of
Lotte group, visited the BOI to further explore the investment opportunities.
The objective of their visit was to discuss matters pertaining to the ongoing
business of KP Chemicals/Lotte in Pakistan as well as its future plans. The BoI
Chairman assured the team every possible help from the BoI for the KP Chemical
Group for their investment in the country. Published by HT Syndication with
permission from Daily Times. For any query with respect to this article or any
other content requirement, please contact Editor at htsyndication@hindustantimes.com
South Asian Media Network (Pakistan): 28 April 2011
[What follows is the full text of the news story.]
KARACHI, April 28
-- The KP Chemical Corporation, a majority shareholder in Lotte Pakistan PTA
Ltd is seriously considering to set up a mew PTA plant at Port Qasim (PQ) at a
cost of $ 400 to 500 million. This was stated by Chief Executive Officer (CEO)
of KP Chemical Corporation and member of Lotte Group Korea, Soo Young Huh while
attending the board of directors meeting of Lotte Pakistan PTA Ltd here
Tuesday. He said that this plant will have a production capacity of 0.8 million
to 1.0 million tons per annum. Huh said that the decision will be taken on the
outcome of on- going discussions between KP Chemical, Lotte Group with
government of Pakistan for incentives to attract this investment in the
country. Lotte Pakistan PTA Ltd can take up this project or a separate entity
can be created for this project. The board also decided to set up an wholly
owned private limited subsidiary company of Lotte Pakistan to house its
co-generation power project by investing the equivalent amount in rupee of up
to $ 50 million in the compan Published by HT Syndication with permission from
South Asian Media Network. For any query with respect to this article or any
other content requirement, please contact Editor at
htsyndication@hindustantimes.com
Zardari invites Korean investment in oil, gas and
energy sectors
Daily Financial Post, The (Pakistan): 28 April 2011
[What follows is the full text of the news story.]
Pakistan, April 28
-- President Asif Ali Zardari has said the existing level of trade between
Korea and Pakistan is far below its real potential and urged for further
enhancing bilateral trade and investment ties between the two countries. Huh
Soo Young, President and Chief Executive Officer of KP Chemical Corporation, a
petrochemicals company and a subsidiary of the South Korean conglomerate LOTTE
called on President Asif Ali Zardari at the Aiwan-e-Sadr. The CEO KP Chemicals
was accompanied by M. Asif Saad, CEO, Lotte Pakistan PTA, Mr. Shin Un, advisor
Lotte Group, Mr Lim Byung, MD Lotte corporate headquarter and Mr. Kim Jung
Neon, ED Lotte Pakistan PTA. Mr. Choi Choong- Jee, South Korean ambassador in
Pakistan was also present. From Pakistan side, Makhdoom Shahabuddin, Minister
for Textile Industry, Mr. M. Salman Faruqui, Secretary General, Mr. Saleem H.
Mandviwala, Chairman BOI, Dr. Nadeem Ul Haq, Deputy Chairman Planning
Commission, Malik Asif Hayat, Secretary to President, Dr. SafdarSuhail,
Director General, Commerce Ministry and other senior officials attended the
meeting. The President while welcoming the Korean business delegation to
Pakistan said that the existing level of trade between Korea and Pakistan is
far below its real potential and urged for further enhancing bilateral trade
and investment ties between the two countries. He said that the government has
devised a liberal incentives package for attracting robust foreign direct investment
in special economic zones in Pakistan with special concessions which in return
would create employment opportunities for the people of Pakistan. He invited
the Korean entrepreneurs to invest in Pakistan's oil & gas sector, mining,
energy, IT & Telecom, food and agriculture and tourism and avail the
attractive investment opportunities in these sectors. The President said that
investment made by the KP Chemicals and Lotte Group gives a positive message
across the world that Pakistan is a safe place for investment and expressed the
hope that more such big business groups from Korea and other countries will be
making investment in Pakistan in the near future. The President appreciated
their interest in making investment in Pakistan and assured that the government
will extend maximum support to the Korean firm in realizing their investment
objectives Published by HT Syndication with permission from The Financial Post.
For any query with respect to this article or any other content requirement,
please contact Editor at htsyndication@hindustantimes.com
Pakistan seeks Korean investment in oil, gas sector
Philippines News Agency: 27 April 2011
[What follows is the full text of the news story.]
ISLAMABAD, April
28 (PNA/IRNA) - President Asif Ali Zardari Wednesday invited Korean
entrepreneurs to invest in Pakistan�s oil and gas sector, mining, energy, IT
and Telecom, food and agriculture and tourism and avail attractive investment
opportunities in these sectors.
President Zardari
was talking to Mr. Huh Soo Young, President and Chief Executive Officer of KP
Chemical Corporation, a petrochemicals company and a subsidiary of the South
Korean conglomerate LOTTE, a Presidential spokesman said.
The spokesperson
said that the visiting entrepreneur informed that the Korean firm was
interested to make investment in food, beverages, hotel, tourism, power and
oil, and gas sectors in Pakistan and added that Lotte group was also exploring
further opportunities and avenue for investment in various sectors in Pakistan.
The President
appreciated their interest in making investment in Pakistan and assured that
the government will extend maximum support to the Korean firm in realizing
their investment objectives.
The President
while welcoming the Korean business delegation to Pakistan said that the
existing level of trade between Korea and Pakistan is far below its real
potential and urged for further enhancing bilateral trade and investment ties
between the two countries, the spokesman said in a statement.
He said that the
government has devised a liberal incentives package for attracting robust
foreign direct investment in special economic zones in Pakistan with special
concessions which in return would create employment opportunities for the
people of Pakistan.
The President said
that investment made by the KP Chemicals and Lotte Group gives a positive
message across the world that Pakistan is a safe place for investment and
expressed the hope that more such big business groups from Korea and other
countries will be making investment in Pakistan in the near future.
Lottee Group,
Korea, the largest overseas south Korean Group is currently ranked amongst the
top five companies in Korea with an annual turnover of US$ 40 billion. Lottee
group has recently acquired Pure Terephthalic Acid (PTA) plant of ICI Pakistan
and have invested 50 million US dollars in setting up a captive power
generation plant. (PNA/IRNA)
Zardari invites Korean entrepreneurs to invest in
Pakistan
Frontier Star (Pakistan): 27 April 2011
[What follows is the full text of the news story.]
ISLAMABAD, April
28, 2011 (Frontier Star): President Asif Ali Zardari on Wednesday invited
Korean entrepreneurs to invest in Pakistans various sectors including oil and
gas, mining, energy, telecom, agriculture and tourism. He was talking to Huh
Soo Young, President and Chief Executive Officer of KP Chemical Corporation, a
petrochemicals company and a subsidiary of the South Korean conglomerate LOTTE,
at the Aiwan-e-Sadr. President Zardari said the government had devised a liberal
incentives package for attracting robust foreign direct investment in special
economic zones in Pakistan with special concessions which in return would
create employment opportunities for the people of Pakistan.
The President
while welcoming the Korean business delegation to Pakistan said that the
existing level of trade between Korea and Pakistan is far below its real
potential and urged for further enhancing bilateral trade and investment ties
between the two countries.
The President said
investment made by the KP Chemicals and Lotte Group gives a positive message
across the world that Pakistan is a safe place for investment and expressed the
hope that more such big business groups from Korea and other countries will be
making investment in Pakistan in the near future.
The spokesperson
said that the visiting entrepreneur informed that Korean firm was interested to
make investment in food, beverages, hotel, tourism, power and oil, and gas
sectors in Pakistan and added that Lotte group was also exploring further
opportunities and avenue for investment in various sectors in Pakistan.
The President
appreciated their interest in making investment in Pakistan and assured that
the government will extend maximum support to the Korean firm in realizing
their investment objectives.
Lottee Group,
Korea, the largest overseas south Korean Group is currently ranked amongst the
top five companies in Korea with an annual turnover of US$ 40 billion. Lottee
group has recently acquired Pure Terephthalic Acid (PTA) plant of ICI Pakistan
and have invested US$ 50 million in setting up a captive power generation
plant.
The CEO KP
Chemicals was accompanied by Asif Saad, CEO, Lotte Pakistan PTA, Shin Un,
advisor Lotte Group, Lim Byung, MD Lotte corporate headquarter and Mr. Kim Jung
Neon, ED Lotte Pakistan PTA.
Choi Choong- Jee,
South Korean ambassador in Pakistan was also present. From Pakistan side,
Makhdoom Shahabuddin, Minister for Textile Industry, Salman Faruqui, Secretary
General, Saleem H. Mandviwala, Chairman BOI, Dr. Nadeem Ul Haq, Deputy Chairman
Planning Commission, Malik Asif Hayat, Secretary to President, Dr. Safdar
Suhail, Director General, Commerce Ministry and other senior officials attended
the meeting.
Pakistan hub of investment: President
Frontier Star (Pakistan): 27 April 2011
[What follows is the full text of the news story.]
ISLAMABAD, April
28, 2011 (Frontier Star): President Asif Ali Zardari has said the existing
level of trade between Korea and Pakistan is far below its real potential and
urged for further enhancing bilateral trade and investment ties between the two
countries.
Huh Soo Young,
President and Chief Executive Officer of KP Chemical Corporation, a
petrochemicals company and a subsidiary of the South Korean conglomerate LOTTE
called on President Asif Ali Zardari at the Aiwan-e-Sadr.
The CEO KP
Chemicals was accompanied by M. Asif Saad, CEO, Lotte Pakistan PTA, Mr. Shin
Un, advisor Lotte Group, Mr Lim Byung, MD Lotte corporate headquarter and Mr.
Kim Jung Neon, ED Lotte Pakistan PTA. Mr. Choi Choong- Jee, South Korean
ambassador in Pakistan was also present.
From Pakistan
side, Makhdoom Shahabuddin, Minister for Textile Industry, Mr. M. Salman
Faruqui, Secretary General, Mr. Saleem H. Mandviwala, Chairman BOI, Dr. Nadeem
Ul Haq, Deputy Chairman Planning Commission, Malik Asif Hayat, Secretary to
President, Dr. SafdarSuhail, Director General, Commerce Ministry and other
senior officials attended the meeting.
The President
while welcoming the Korean business delegation to Pakistan said that the
existing level of trade between Korea and Pakistan is far below its real
potential and urged for further enhancing bilateral trade and investment ties
between the two countries.
He said that the
government has devised a liberal incentives package for attracting robust
foreign direct investment in special economic zones in Pakistan with special
concessions which in return would create employment opportunities for the
people of Pakistan. He invited the Korean entrepreneurs to invest in Pakistans
oil & gas sector, mining, energy, IT & Telecom, food and agriculture
and tourism and avail the attractive investment opportunities in these sectors.
The President said
that investment made by the KP Chemicals and Lotte Group gives a positive
message across the world that Pakistan is a safe place for investment and
expressed the hope that more such big business groups from Korea and other
countries will be making investment in Pakistan in the near future.
The spokesperson
said that the visiting entrepreneur informed that Korean firm was interested to
make investment in food, beverages, hotel, tourism, power and oil, and gas
sectors in Pakistan and added that Lotte group was also exploring further
opportunities and avenue for investment in various sectors in Pakistan. The
President appreciated their interest in making investment in Pakistan and
assured that the government will extend maximum support to the Korean firm in
realizing their investment objectives.
Lottee Group,
Korea, the largest overseas south Korean Group is currently ranked amongst the
top five companies in Korea with an annual turnover of US$ 40 billion. Lottee
group has recently acquired Pure Terephthalic Acid (PTA) plant of ICI Pakistan
and have invested US$ 50 million in setting up a captive power generation
plant.
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 |
Reclassified
Normal |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
2,648.3 |
2,140.9 |
1,978.9 |
2,169.6 |
1,742.7 |
|
Revenue |
2,648.3 |
2,140.9 |
1,978.9 |
2,169.6 |
1,742.7 |
|
Other Revenue |
24.1 |
19.3 |
2.9 |
- |
- |
|
Other Revenue, Total |
24.1 |
19.3 |
2.9 |
- |
- |
|
Total Revenue |
2,672.4 |
2,160.2 |
1,981.9 |
2,169.6 |
1,742.7 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,384.6 |
1,911.7 |
1,918.3 |
2,045.3 |
1,692.2 |
|
Cost of Revenue, Total |
2,384.6 |
1,911.7 |
1,918.3 |
2,045.3 |
1,692.2 |
|
Gross Profit |
263.8 |
229.2 |
60.6 |
124.3 |
50.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
62.9 |
50.0 |
59.9 |
66.1 |
55.4 |
|
Labor & Related Expense |
12.3 |
10.6 |
9.7 |
11.7 |
11.7 |
|
Advertising Expense |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Total Selling/General/Administrative Expenses |
75.5 |
60.8 |
69.9 |
77.9 |
67.4 |
|
Research & Development |
- |
- |
1.6 |
2.4 |
1.5 |
|
Depreciation |
0.2 |
0.1 |
0.3 |
0.4 |
0.5 |
|
Amortization of Intangibles |
0.7 |
0.5 |
0.0 |
0.0 |
0.0 |
|
Depreciation/Amortization |
0.9 |
0.7 |
0.3 |
0.4 |
0.5 |
|
Total Operating Expense |
2,460.9 |
1,973.2 |
1,990.1 |
2,126.0 |
1,761.6 |
|
|
|
|
|
|
|
|
Operating Income |
211.5 |
187.0 |
-8.2 |
43.6 |
-18.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-2.7 |
-3.8 |
0.0 |
-0.1 |
-0.7 |
|
Interest Expense, Net Non-Operating |
-2.7 |
-3.8 |
0.0 |
-0.1 |
-0.7 |
|
Interest Income -
Non-Operating |
16.3 |
9.3 |
7.7 |
8.4 |
7.8 |
|
Investment Income -
Non-Operating |
13.6 |
-12.2 |
-23.2 |
-0.3 |
15.8 |
|
Interest/Investment Income - Non-Operating |
29.9 |
-2.8 |
-15.5 |
8.1 |
23.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
27.2 |
-6.6 |
-15.5 |
8.0 |
22.9 |
|
Gain (Loss) on Sale of Assets |
0.1 |
-0.1 |
-6.6 |
-1.5 |
0.0 |
|
Other Non-Operating Income (Expense) |
2.6 |
28.8 |
-2.7 |
-0.6 |
3.1 |
|
Other, Net |
2.6 |
28.8 |
-2.7 |
-0.6 |
3.1 |
|
Income Before Tax |
241.4 |
209.2 |
-33.1 |
49.5 |
7.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
71.6 |
50.4 |
-29.0 |
9.7 |
3.6 |
|
Income After Tax |
169.8 |
158.8 |
-4.1 |
39.7 |
3.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-13.3 |
-3.7 |
0.9 |
0.2 |
0.7 |
|
Equity In Affiliates |
- |
-26.6 |
- |
- |
- |
|
Net Income Before Extraord Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Basic EPS Excl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Basic/Primary EPS Incl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Diluted Weighted Average Shares |
98.3 |
98.3 |
98.3 |
98.3 |
98.3 |
|
Diluted EPS Excl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Diluted EPS Incl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Dividends per Share - Common Stock Primary Issue |
0.13 |
0.12 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
12.8 |
11.6 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
2.7 |
3.8 |
0.0 |
0.1 |
0.7 |
|
Depreciation, Supplemental |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Total Special Items |
-0.1 |
0.1 |
6.6 |
1.5 |
0.0 |
|
Normalized Income Before Tax |
241.2 |
209.2 |
-26.5 |
51.0 |
7.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
2.3 |
0.3 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
71.5 |
50.4 |
-26.7 |
10.0 |
3.6 |
|
Normalized Income After Tax |
169.7 |
158.8 |
0.2 |
41.0 |
3.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
156.4 |
128.5 |
1.1 |
41.1 |
4.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
Diluted Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
Amort of Acquisition Costs, Supplemental |
0.0 |
0.0 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Rental Expenses |
0.7 |
0.5 |
0.7 |
0.7 |
1.1 |
|
Advertising Expense, Supplemental |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Research & Development Exp, Supplemental |
- |
- |
1.6 |
2.4 |
1.5 |
|
Normalized EBIT |
211.5 |
187.0 |
-8.2 |
43.6 |
-18.9 |
|
Normalized EBITDA |
296.7 |
263.2 |
86.0 |
162.1 |
97.1 |
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 |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
245.4 |
241.7 |
110.9 |
103.5 |
184.1 |
|
Short Term Investments |
220.5 |
79.5 |
7.3 |
52.4 |
21.9 |
|
Cash and Short Term Investments |
465.9 |
321.2 |
118.2 |
155.9 |
206.0 |
|
Accounts Receivable -
Trade, Gross |
219.2 |
162.4 |
94.4 |
188.6 |
200.5 |
|
Provision for Doubtful
Accounts |
-1.9 |
-1.4 |
-1.2 |
-2.2 |
-2.2 |
|
Trade Accounts Receivable - Net |
219.5 |
161.9 |
93.9 |
187.2 |
199.4 |
|
Other Receivables |
5.7 |
7.2 |
5.2 |
0.6 |
0.8 |
|
Total Receivables, Net |
225.2 |
169.1 |
99.1 |
187.8 |
200.2 |
|
Inventories - Finished Goods |
30.9 |
19.3 |
18.3 |
37.4 |
32.9 |
|
Inventories - Work In Progress |
43.9 |
39.8 |
42.0 |
79.4 |
74.2 |
|
Inventories - Raw Materials |
59.8 |
54.7 |
20.6 |
44.1 |
29.3 |
|
Inventories - Other |
27.6 |
13.1 |
9.8 |
13.7 |
13.0 |
|
Total Inventory |
162.2 |
127.0 |
90.7 |
174.6 |
149.4 |
|
Prepaid Expenses |
4.2 |
5.9 |
8.7 |
6.6 |
10.1 |
|
Deferred Income Tax - Current Asset |
0.4 |
0.4 |
6.6 |
0.7 |
0.5 |
|
Other Current Assets, Total |
0.4 |
0.4 |
6.6 |
0.7 |
0.5 |
|
Total Current Assets |
857.9 |
623.5 |
323.3 |
525.6 |
566.1 |
|
|
|
|
|
|
|
|
Buildings |
272.5 |
265.6 |
208.8 |
268.9 |
270.5 |
|
Land/Improvements |
60.0 |
58.5 |
26.6 |
34.2 |
34.3 |
|
Machinery/Equipment |
1,785.8 |
1,742.1 |
1,319.6 |
1,739.0 |
1,755.2 |
|
Construction in
Progress |
27.6 |
20.0 |
51.8 |
49.3 |
12.1 |
|
Other
Property/Plant/Equipment |
3.5 |
2.6 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
2,149.4 |
2,088.8 |
1,606.8 |
2,091.4 |
2,072.2 |
|
Accumulated Depreciation |
-1,736.3 |
-1,619.7 |
-1,249.3 |
-1,578.0 |
-1,500.8 |
|
Property/Plant/Equipment - Net |
413.1 |
469.1 |
357.5 |
513.4 |
571.4 |
|
Goodwill, Net |
-28.5 |
-44.0 |
-2.1 |
-3.2 |
-3.7 |
|
Intangibles, Net |
5.4 |
6.3 |
1.0 |
0.7 |
0.6 |
|
LT Investment - Affiliate Companies |
147.6 |
40.7 |
- |
0.8 |
0.0 |
|
LT Investments - Other |
17.2 |
51.0 |
9.6 |
12.9 |
8.3 |
|
Long Term Investments |
164.8 |
91.6 |
9.6 |
13.7 |
8.3 |
|
Note Receivable - Long Term |
4.3 |
4.6 |
4.0 |
6.0 |
4.8 |
|
Deferred Income Tax - Long Term Asset |
- |
- |
12.5 |
13.9 |
11.8 |
|
Other Long Term Assets |
12.9 |
14.6 |
14.8 |
22.4 |
24.4 |
|
Other Long Term Assets, Total |
12.9 |
14.6 |
27.3 |
36.3 |
36.2 |
|
Total Assets |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
360.6 |
332.1 |
148.3 |
328.8 |
477.2 |
|
Accrued Expenses |
20.4 |
22.2 |
2.9 |
0.0 |
0.0 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.6 |
0.8 |
4.2 |
|
Current Portion - Long Term Debt/Capital Leases |
1.7 |
1.4 |
- |
- |
- |
|
Customer Advances |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
Security Deposits |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Income Taxes Payable |
28.4 |
0.1 |
0.6 |
12.4 |
0.0 |
|
Other Payables |
42.7 |
28.1 |
48.9 |
48.7 |
42.7 |
|
Deferred Income Tax - Current Liability |
- |
6.2 |
0.4 |
1.9 |
1.0 |
|
Other Current Liabilities |
1.8 |
1.9 |
0.5 |
1.3 |
0.6 |
|
Other Current liabilities, Total |
74.5 |
37.3 |
51.9 |
64.7 |
44.5 |
|
Total Current Liabilities |
457.2 |
393.1 |
203.7 |
394.2 |
526.0 |
|
|
|
|
|
|
|
|
Capital Lease Obligations |
2.5 |
4.2 |
- |
- |
- |
|
Total Long Term Debt |
2.5 |
4.2 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
4.2 |
5.7 |
0.6 |
0.8 |
4.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
38.3 |
11.6 |
0.9 |
1.4 |
2.5 |
|
Deferred Income Tax |
38.3 |
11.6 |
0.9 |
1.4 |
2.5 |
|
Minority Interest |
33.2 |
27.3 |
3.0 |
3.7 |
3.7 |
|
Reserves |
0.6 |
0.5 |
0.4 |
0.5 |
0.5 |
|
Pension Benefits - Underfunded |
6.3 |
6.6 |
5.2 |
8.1 |
6.1 |
|
Other Long Term Liabilities |
18.4 |
12.8 |
2.0 |
1.6 |
1.6 |
|
Other Liabilities, Total |
25.3 |
19.9 |
7.5 |
10.2 |
8.2 |
|
Total Liabilities |
556.5 |
456.1 |
215.1 |
409.5 |
540.4 |
|
|
|
|
|
|
|
|
Common Stock |
433.2 |
422.2 |
390.4 |
525.3 |
522.4 |
|
Common Stock |
433.2 |
422.2 |
390.4 |
525.3 |
522.4 |
|
Retained Earnings (Accumulated Deficit) |
415.0 |
261.8 |
111.9 |
154.3 |
115.4 |
|
Treasury Stock - Common |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Unrealized Gain (Loss) |
28.8 |
26.8 |
1.5 |
3.5 |
-0.1 |
|
Translation Adjustment |
-3.7 |
-1.2 |
1.8 |
0.1 |
-0.5 |
|
Other Equity |
- |
- |
- |
0.0 |
6.3 |
|
Other Equity, Total |
-3.7 |
-1.2 |
1.8 |
0.0 |
5.8 |
|
Total Equity |
873.4 |
709.7 |
505.5 |
683.0 |
643.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Total Common Shares Outstanding |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
600 |
606 |
607 |
604 |
609 |
|
Number of Common Shareholders |
22,113 |
15,626 |
17,381 |
10,998 |
10,568 |
|
Deferred Revenue - Current |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
Total Capital Leases, Supplemental |
4.2 |
5.7 |
- |
- |
- |
|
Capital Lease Payments Due in Year 1 |
1.7 |
1.4 |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.3 |
2.1 |
- |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
1.3 |
2.1 |
- |
- |
- |
|
Cap. Lease 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 |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
169.8 |
132.2 |
-4.1 |
39.7 |
3.5 |
|
Depreciation |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Depreciation/Depletion |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Amortization of Intangibles |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Amortization |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Deferred Taxes |
7.0 |
22.9 |
-10.6 |
-3.9 |
-3.1 |
|
Unusual Items |
-1.4 |
-9.7 |
18.5 |
5.6 |
1.9 |
|
Equity in Net Earnings (Loss) |
-14.6 |
0.0 |
0.7 |
-0.5 |
0.2 |
|
Other Non-Cash Items |
6.6 |
-19.9 |
-4.4 |
7.4 |
2.0 |
|
Non-Cash Items |
-9.4 |
-29.7 |
14.8 |
12.5 |
4.1 |
|
Accounts Receivable |
-68.8 |
-39.4 |
41.4 |
15.0 |
-64.2 |
|
Inventories |
-32.8 |
11.9 |
33.0 |
-30.7 |
-26.3 |
|
Prepaid Expenses |
3.3 |
5.6 |
-2.7 |
2.8 |
6.0 |
|
Accounts Payable |
48.4 |
106.8 |
-81.7 |
-144.8 |
-0.4 |
|
Accrued Expenses |
-2.0 |
-1.4 |
3.0 |
0.0 |
-0.2 |
|
Taxes Payable |
22.4 |
2.1 |
-9.6 |
12.5 |
-8.7 |
|
Other Liabilities |
-4.7 |
-2.6 |
-3.8 |
-1.3 |
-15.8 |
|
Other Assets & Liabilities, Net |
- |
- |
- |
- |
-0.7 |
|
Changes in Working Capital |
-34.2 |
82.9 |
-20.4 |
-146.6 |
-110.3 |
|
Cash from Operating Activities |
218.5 |
284.6 |
73.8 |
20.3 |
10.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-16.8 |
-40.0 |
-70.4 |
-65.0 |
-24.2 |
|
Purchase/Acquisition of Intangibles |
- |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Capital Expenditures |
-16.8 |
-40.0 |
-70.4 |
-65.1 |
-24.2 |
|
Sale of Fixed Assets |
0.3 |
0.4 |
0.5 |
0.4 |
0.0 |
|
Sale/Maturity of Investment |
3.3 |
0.2 |
84.6 |
71.2 |
33.1 |
|
Purchase of Investments |
-189.3 |
-122.1 |
-50.2 |
-101.9 |
-44.4 |
|
Other Investing Cash Flow |
0.8 |
0.4 |
0.8 |
-1.4 |
3.2 |
|
Other Investing Cash Flow Items, Total |
-184.9 |
-121.1 |
35.7 |
-31.7 |
-8.1 |
|
Cash from Investing Activities |
-201.7 |
-161.1 |
-34.7 |
-96.7 |
-32.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-3.2 |
-12.3 |
0.0 |
0.0 |
- |
|
Financing Cash Flow Items |
-3.2 |
-12.3 |
0.0 |
0.0 |
- |
|
Total Cash Dividends Paid |
-14.9 |
- |
- |
- |
- |
|
Short Term Debt Issued |
- |
- |
0.1 |
- |
- |
|
Short Term Debt
Reduction |
- |
- |
-0.3 |
-3.6 |
-18.0 |
|
Short Term Debt, Net |
- |
- |
-0.2 |
-3.6 |
-18.0 |
|
Long Term Debt
Reduction |
-1.3 |
-0.1 |
- |
- |
- |
|
Long Term Debt, Net |
-1.3 |
-0.1 |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
-1.3 |
-0.1 |
-0.2 |
-3.6 |
-18.0 |
|
Cash from Financing Activities |
-19.4 |
-12.4 |
-0.2 |
-3.7 |
-18.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
0.1 |
-0.2 |
|
Net Change in Cash |
-2.6 |
111.1 |
38.9 |
-80.0 |
-40.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
243.4 |
109.5 |
88.0 |
184.3 |
219.5 |
|
Net Cash - Ending Balance |
240.9 |
220.5 |
126.9 |
104.3 |
179.3 |
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 |
Reclassified
Normal |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
- |
- |
2,169.6 |
1,742.7 |
|
Finished Product Revenue |
2,469.3 |
1,962.5 |
1,796.7 |
- |
- |
|
Merchandise Revenue |
179.1 |
178.4 |
182.3 |
- |
- |
|
Other Revenue |
24.1 |
19.3 |
2.9 |
- |
- |
|
Total Revenue |
2,672.4 |
2,160.2 |
1,981.9 |
2,169.6 |
1,742.7 |
|
|
|
|
|
|
|
|
Cost-Revenue |
- |
- |
- |
2,045.3 |
1,692.2 |
|
Cost-Finished Goods Sold |
2,189.2 |
1,725.0 |
1,678.2 |
- |
- |
|
Cost-Merchandise Sold |
178.1 |
173.3 |
218.1 |
- |
- |
|
Cost-Other Sales |
17.3 |
13.4 |
22.0 |
- |
- |
|
Salaries |
9.4 |
8.4 |
6.9 |
8.7 |
7.4 |
|
Retirement Allowance |
0.7 |
0.8 |
1.0 |
1.0 |
2.4 |
|
Employee Benefits |
2.1 |
1.4 |
1.8 |
1.9 |
2.0 |
|
Travel Expenses |
1.0 |
0.6 |
0.7 |
0.6 |
0.5 |
|
Communication Exp. |
0.3 |
0.3 |
0.2 |
0.3 |
0.3 |
|
Taxes and Dues |
0.3 |
0.2 |
0.3 |
0.3 |
0.3 |
|
Consumable Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Printing Expense |
0.2 |
0.2 |
0.1 |
0.2 |
0.1 |
|
Rent |
0.6 |
0.5 |
0.7 |
0.7 |
1.1 |
|
Leasing Expense |
0.1 |
- |
- |
- |
- |
|
Repair Expenses |
0.8 |
0.8 |
0.4 |
0.4 |
0.4 |
|
Vehicles Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Insurance Expenses |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Commissions Paid |
11.1 |
9.7 |
10.6 |
3.7 |
4.1 |
|
Sales Commission |
2.0 |
1.6 |
- |
- |
- |
|
Shipping & Storage Expense |
44.9 |
34.4 |
43.3 |
5.7 |
5.0 |
|
Entertainment |
0.4 |
0.3 |
0.4 |
0.4 |
0.4 |
|
Advertising Expense |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Education & Training |
0.3 |
0.3 |
0.5 |
0.6 |
0.3 |
|
Other Exporting Exp |
- |
- |
- |
37.9 |
29.6 |
|
Expenses for Samples |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Expense-Uniforms |
0.0 |
- |
- |
- |
- |
|
Conference Expenses |
- |
- |
- |
0.1 |
0.1 |
|
Amort. of Bad Debts |
0.4 |
0.4 |
1.4 |
1.2 |
0.6 |
|
Development Expense |
- |
- |
1.6 |
2.4 |
1.5 |
|
Depreciation Expense |
0.2 |
0.1 |
0.3 |
0.4 |
0.5 |
|
Amortization of Intangibles |
0.7 |
0.5 |
0.0 |
0.0 |
0.0 |
|
Services Expenses |
- |
- |
0.8 |
5.3 |
3.5 |
|
Packaging Expenses |
- |
- |
- |
8.4 |
8.4 |
|
Miscellaneous Operating Expense |
0.5 |
0.5 |
0.2 |
0.1 |
0.3 |
|
Total Operating Expense |
2,460.9 |
1,973.2 |
1,990.1 |
2,126.0 |
1,761.6 |
|
|
|
|
|
|
|
|
Gain-Disposal of Investment Assets |
- |
- |
- |
0.4 |
- |
|
Interest Income |
16.3 |
9.3 |
7.7 |
8.4 |
7.8 |
|
Rental Income |
0.0 |
0.1 |
0.2 |
- |
- |
|
Gain-Valuation of ST Investment Assets |
0.2 |
- |
- |
- |
- |
|
G-Tang Asst Disposal |
0.3 |
0.0 |
7.8 |
0.2 |
0.0 |
|
G-For Curr Transactn |
34.7 |
44.2 |
64.4 |
17.2 |
29.8 |
|
G-For Exch Translatn |
5.5 |
2.6 |
17.2 |
6.8 |
6.8 |
|
Revers-Doubtful Acct |
- |
0.0 |
0.8 |
0.0 |
4.7 |
|
Recovery-Negative Goodwill Amortization |
1.3 |
13.3 |
0.4 |
0.5 |
0.7 |
|
Gain-Disposal of Investment Securities |
- |
0.0 |
- |
- |
- |
|
Gain-Contract Cancellation |
- |
0.0 |
- |
- |
- |
|
Gain-Assets Contributed |
- |
13.1 |
- |
- |
- |
|
Fees Received |
1.0 |
0.9 |
1.1 |
1.2 |
1.1 |
|
Loss-Disposal of Sec Available-Sale |
- |
- |
- |
0.0 |
- |
|
Other Non-Op. Income |
1.6 |
3.9 |
1.4 |
1.3 |
3.8 |
|
Interest Expense, Non-Operating |
-2.7 |
-3.8 |
0.0 |
-0.1 |
-0.7 |
|
Other Amortization |
0.0 |
-1.1 |
-2.4 |
0.0 |
-0.4 |
|
L-Tang.Asst Disposal |
-0.1 |
-0.1 |
-14.3 |
-1.7 |
0.0 |
|
Loss-Reduction of Tangible Assets |
- |
0.0 |
- |
- |
- |
|
L-For Curr Transactn |
-36.0 |
-48.8 |
-96.3 |
-16.3 |
-17.6 |
|
L-For Exch Translatn |
-6.5 |
-10.0 |
-8.0 |
-8.9 |
-1.8 |
|
Donations Paid |
-0.8 |
-0.4 |
-0.1 |
-0.2 |
0.0 |
|
L-Currency Futures Trading |
- |
- |
- |
- |
-1.2 |
|
Suspension Fixed Construction Expense |
- |
- |
-0.5 |
-0.3 |
-1.9 |
|
Loss-Disposal of Investment Securities |
- |
-0.1 |
- |
- |
- |
|
Depreciation-Suspended Assets |
- |
-0.2 |
-2.9 |
-2.2 |
-4.3 |
|
Other Non-Op Expense |
-0.6 |
-0.8 |
-0.8 |
-0.9 |
-0.7 |
|
Gain-Disposal of Equity Method Sec. |
1.7 |
- |
- |
- |
- |
|
Loss-Disposal of Equity Method Sec. |
-0.6 |
- |
- |
- |
- |
|
Loss-Reduction of Equity Method Sec. |
- |
- |
- |
-0.1 |
- |
|
Gain under Equity Method |
16.2 |
1.3 |
- |
0.6 |
- |
|
Loss Under Equity Method |
-1.5 |
-1.3 |
-0.7 |
- |
-0.2 |
|
Net Income Before Taxes |
241.4 |
209.2 |
-33.1 |
49.5 |
7.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
71.6 |
50.4 |
-29.0 |
9.7 |
3.6 |
|
Net Income After Taxes |
169.8 |
158.8 |
-4.1 |
39.7 |
3.5 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
-13.3 |
-3.7 |
0.9 |
0.2 |
0.7 |
|
Earning Before Acquisition of Subsidiary |
- |
-26.6 |
- |
- |
- |
|
Net Income Before Extra. Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Basic EPS Excluding ExtraOrdin |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Basic EPS Including ExtraOrdin |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Diluted Weighted Average Share |
98.3 |
98.3 |
98.3 |
98.3 |
98.3 |
|
Diluted EPS Excluding ExtraOrd |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Diluted EPS Including ExtraOrd |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
DPS-Common Stock |
0.13 |
0.12 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
12.8 |
11.6 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
241.2 |
209.2 |
-26.5 |
51.0 |
7.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
71.5 |
50.4 |
-26.7 |
10.0 |
3.6 |
|
Normalized Income After Taxes |
169.7 |
158.8 |
0.2 |
41.0 |
3.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
156.4 |
128.5 |
1.1 |
41.1 |
4.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
Diluted Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
R&D Expense, Supplemental |
- |
- |
1.6 |
2.4 |
1.5 |
|
Advertising Expense |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Interest Expense |
2.7 |
3.8 |
0.0 |
0.1 |
0.7 |
|
Rental Expense |
0.7 |
0.5 |
0.7 |
0.7 |
1.1 |
|
Depreciation |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Amort of Intangibles, Supplemental |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Amort of Acquisition Costs,Negative |
0.0 |
0.0 |
- |
- |
- |
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 |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
245.4 |
241.7 |
110.9 |
103.5 |
184.1 |
|
ST Investment Assets |
220.5 |
79.5 |
- |
- |
- |
|
ST Finl Assets |
- |
- |
4.0 |
52.3 |
21.9 |
|
ST Securities Available for Sale |
- |
- |
3.3 |
0.1 |
0.0 |
|
Trade Rcvbls,G |
219.2 |
162.4 |
94.4 |
188.6 |
200.5 |
|
Allw-Doubtful Ac |
-1.9 |
-1.4 |
-1.2 |
-2.2 |
-2.2 |
|
Other Rcvbls |
5.7 |
6.9 |
0.5 |
0.6 |
0.8 |
|
Receivable-Recovery of Taxes |
- |
0.2 |
4.7 |
- |
- |
|
Advance Payments |
0.5 |
0.3 |
0.2 |
0.3 |
0.3 |
|
Prepaid Expenses |
3.8 |
4.9 |
2.8 |
3.8 |
4.0 |
|
Prepaid Inc Tax |
- |
- |
- |
0.0 |
2.8 |
|
Deferred Income Taxes-Debit, Current |
0.4 |
0.4 |
6.6 |
0.7 |
0.5 |
|
Prepaid VAT |
0.4 |
1.0 |
6.0 |
2.7 |
3.2 |
|
Accrued Income |
2.1 |
0.9 |
0.7 |
0.8 |
1.1 |
|
Finished Goods |
30.9 |
19.3 |
15.9 |
37.4 |
29.0 |
|
Semi-finish Good |
33.2 |
30.4 |
30.4 |
63.8 |
57.9 |
|
Work in Progress |
10.7 |
9.4 |
11.6 |
15.6 |
16.3 |
|
Raw Materials |
59.8 |
54.7 |
20.6 |
44.1 |
29.2 |
|
Stored Goods |
12.6 |
11.4 |
9.6 |
13.3 |
12.5 |
|
Stored Good-Tran |
- |
- |
- |
0.1 |
0.1 |
|
Adjustment, Inventory |
0.0 |
- |
- |
- |
- |
|
Raw Mat.Transit |
- |
- |
- |
0.0 |
0.1 |
|
Residual Products |
- |
- |
2.4 |
0.0 |
0.1 |
|
Goods in Transit |
14.5 |
1.4 |
- |
- |
- |
|
Merchandises in Transit |
- |
- |
- |
0.0 |
3.9 |
|
Total Current Assets |
857.9 |
623.5 |
323.3 |
525.6 |
566.1 |
|
|
|
|
|
|
|
|
LT Finl Assets |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Secs for Sale |
14.9 |
50.9 |
9.5 |
12.9 |
8.2 |
|
Affilates Stocks |
147.6 |
40.7 |
- |
0.8 |
0.0 |
|
Investment-Real Estate |
2.0 |
- |
- |
- |
- |
|
LT Loan |
4.3 |
4.6 |
4.0 |
6.0 |
4.8 |
|
LT Guarantee Dep |
3.6 |
3.9 |
4.1 |
5.9 |
5.7 |
|
LT Prepaid Expen |
9.3 |
10.7 |
10.7 |
16.5 |
18.7 |
|
Other Investment Assets |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Land |
60.0 |
58.5 |
26.6 |
34.2 |
34.3 |
|
Buildings |
60.6 |
59.2 |
39.6 |
41.5 |
41.6 |
|
Deprec-Buildings |
-24.3 |
-22.6 |
-8.6 |
-10.0 |
-8.8 |
|
Structures |
211.8 |
206.4 |
169.2 |
227.4 |
229.0 |
|
Deprec-Structure |
-174.8 |
-167.3 |
-146.1 |
-185.8 |
-175.5 |
|
Tools/Equipments |
2.5 |
2.4 |
2.1 |
2.6 |
2.5 |
|
Depr-Tool/Equip |
-2.2 |
-2.0 |
-1.8 |
-2.1 |
-1.9 |
|
Machinery/Equip. |
1,769.6 |
1,726.4 |
1,310.3 |
1,726.7 |
1,743.5 |
|
Depr-Mach/Equip. |
-1,521.1 |
-1,415.6 |
-1,086.6 |
-1,372.4 |
-1,307.7 |
|
Machinery & Equipment-Government Subsidy |
-0.2 |
-0.2 |
-0.2 |
- |
- |
|
Transport Equip. |
2.7 |
2.5 |
1.8 |
2.4 |
2.3 |
|
Deprec-Transport |
-2.5 |
-2.2 |
-1.6 |
-2.0 |
-2.0 |
|
Misc. Fixtures |
11.2 |
11.0 |
5.7 |
7.2 |
6.9 |
|
Software, Intangible |
1.6 |
2.4 |
0.3 |
0.1 |
0.0 |
|
Deprec-Fixtures |
-10.3 |
-9.8 |
-4.7 |
-5.6 |
-4.9 |
|
Construc in Prog |
27.6 |
20.0 |
51.8 |
49.3 |
11.9 |
|
Equip In Transit |
- |
- |
- |
0.0 |
0.3 |
|
Other Tangible Assets |
3.5 |
2.6 |
- |
- |
- |
|
Other Tangibles-Depreciation |
-1.0 |
-0.1 |
- |
- |
- |
|
Other Intangible |
3.8 |
4.0 |
0.7 |
0.6 |
0.6 |
|
Deferred Income Tax, Debit |
- |
- |
12.5 |
13.9 |
11.8 |
|
Negiative Goodwill |
-28.5 |
-44.0 |
-2.1 |
-3.2 |
-3.7 |
|
Total Assets |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
Trade Payable |
360.6 |
332.1 |
148.3 |
328.8 |
477.2 |
|
Accounts Payable |
42.7 |
28.1 |
48.9 |
48.7 |
42.7 |
|
Inc Tax Payable |
28.4 |
0.1 |
0.6 |
12.4 |
0.0 |
|
Accrued Expenses |
19.7 |
22.2 |
2.6 |
0.0 |
0.0 |
|
Advances Receivd |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
VAT Withheld |
0.7 |
- |
0.2 |
- |
- |
|
Sec Dep Withheld |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Deposit Withheld |
1.8 |
1.9 |
0.5 |
1.3 |
0.6 |
|
Current Portion of LT Debt |
1.7 |
1.4 |
- |
- |
- |
|
ST Borrowings |
- |
- |
0.6 |
0.8 |
4.2 |
|
Deferred Income Tax Credits |
- |
6.2 |
0.4 |
1.9 |
1.0 |
|
Total Current Liability |
457.2 |
393.1 |
203.7 |
394.2 |
526.0 |
|
|
|
|
|
|
|
|
Capital Lease Liabilities |
2.5 |
4.2 |
- |
- |
- |
|
Total Long Term Debt |
2.5 |
4.2 |
- |
- |
- |
|
|
|
|
|
|
|
|
Accident Loss Reserves |
0.6 |
0.5 |
0.4 |
0.5 |
0.5 |
|
Deferred Income Tax, Credit |
38.3 |
11.6 |
0.9 |
1.4 |
2.5 |
|
Security Deposit, LT |
0.0 |
- |
- |
- |
- |
|
LT Accounts Pay |
18.4 |
12.8 |
2.0 |
1.6 |
1.6 |
|
Retirement Resrv |
19.9 |
16.7 |
5.2 |
8.1 |
6.1 |
|
Minority Interest |
33.2 |
27.3 |
3.0 |
3.7 |
3.7 |
|
Deposit-Retirement Insurance |
-13.5 |
-10.0 |
- |
- |
- |
|
Transfer to National Pension Fund |
-0.1 |
-0.1 |
- |
- |
- |
|
Total Liabilities |
556.5 |
456.1 |
215.1 |
409.5 |
540.4 |
|
|
|
|
|
|
|
|
Common Stock |
433.2 |
422.2 |
390.4 |
525.3 |
522.4 |
|
Consolidated Retained Earnings |
415.0 |
261.8 |
111.9 |
154.3 |
115.4 |
|
Discounts on Stock Issuance |
- |
- |
- |
0.0 |
- |
|
Unissu Share Cap |
- |
- |
- |
- |
6.3 |
|
G-Secs. for Sale Valuation |
2.2 |
2.0 |
1.5 |
3.5 |
0.0 |
|
Negative Capital Change U/ Equity Mtd. |
-0.7 |
- |
0.0 |
0.0 |
-0.1 |
|
Capital Change, Equity Method |
4.4 |
2.7 |
- |
- |
- |
|
Overseas Business Translation Debit |
-3.7 |
-1.2 |
1.8 |
0.1 |
-0.5 |
|
Treasury Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Loss-Valuation of Investment Securities |
-0.8 |
-1.0 |
- |
- |
- |
|
Gain-Revaluation |
23.8 |
23.2 |
- |
- |
- |
|
Total Equity |
873.4 |
709.7 |
505.5 |
683.0 |
643.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Total Common Shares Outstandin |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
Full-Time Employees |
600 |
606 |
607 |
604 |
609 |
|
Number of Common Shareholders |
22,113 |
15,626 |
17,381 |
10,998 |
10,568 |
|
Capital Leases Due in 1 Year |
1.7 |
1.4 |
- |
- |
- |
|
Capital Leases Due in 5 Year |
2.5 |
4.2 |
- |
- |
- |
|
Total Capital Leases |
4.2 |
5.7 |
- |
- |
- |
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 |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
169.8 |
132.2 |
-4.1 |
39.7 |
3.5 |
|
Depreciation |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Amortization of Intangible Assets |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Amortization-Present Value Discount |
0.1 |
- |
- |
- |
- |
|
Retirement Allowance |
4.8 |
3.7 |
4.0 |
4.4 |
11.7 |
|
Amort-Bad Debt Exp |
0.4 |
0.4 |
1.4 |
1.2 |
0.6 |
|
L-For Exch Translatn |
6.1 |
3.8 |
6.3 |
8.9 |
1.8 |
|
Repair Expense |
- |
- |
- |
0.2 |
- |
|
Loss Under Equity Method |
1.5 |
1.3 |
0.7 |
- |
0.2 |
|
Amort-Other Bad Debt Exp |
0.0 |
1.0 |
2.4 |
0.0 |
0.4 |
|
Loss-Reduct. of Sec. under Equity Method |
- |
- |
- |
0.1 |
- |
|
Loss-Disposal of Sec under Equity Method |
0.6 |
- |
- |
- |
- |
|
Loss-Disposal of Sec. Available-for-Sale |
- |
- |
- |
0.0 |
- |
|
L-Inventory Valuatn |
- |
- |
12.0 |
4.4 |
1.9 |
|
L-Tangible Asst Disp |
0.1 |
0.1 |
14.3 |
1.7 |
0.0 |
|
Loss-Reduction of Tangible Assets |
- |
0.0 |
- |
- |
- |
|
Miscellaneous Loss |
1.3 |
- |
- |
- |
- |
|
Loss-Disposal of Investment Securities |
- |
0.1 |
- |
- |
- |
|
Miscellaneous Gain |
- |
- |
0.0 |
0.0 |
- |
|
Gain under Equity Method |
-16.2 |
-1.3 |
- |
-0.6 |
- |
|
Interest Income |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
-0.2 |
|
G-For Exch Translatn |
-4.6 |
-2.3 |
-17.2 |
-6.6 |
-6.8 |
|
Gain-Disposal of Investment Assets |
- |
- |
- |
-0.4 |
- |
|
Revers-Doubtful Acct |
- |
0.0 |
-0.8 |
0.0 |
-4.7 |
|
Recovery-Negative Goodwill Amortization |
-1.3 |
-13.3 |
-0.4 |
-0.5 |
-0.7 |
|
G-Tangible Asst Disp |
-0.3 |
0.0 |
-7.8 |
-0.2 |
0.0 |
|
Gain-Disp. of Securities/Equity Method |
-1.7 |
- |
- |
- |
- |
|
Gain-Valuation of ST Investment Assets |
-0.2 |
- |
- |
- |
- |
|
Gain-Disposal of Investment Securities |
- |
0.0 |
- |
- |
- |
|
Gain-Assets Contributed |
- |
-13.1 |
- |
- |
- |
|
Recovery-Inventory Valuation Loss |
0.0 |
-9.9 |
- |
- |
- |
|
Trade Receivables |
-68.9 |
-43.8 |
46.8 |
11.6 |
-60.7 |
|
Account Receivables |
1.0 |
0.2 |
-0.1 |
0.4 |
-0.3 |
|
Accrued Income |
-1.1 |
-0.1 |
-0.1 |
0.3 |
-0.5 |
|
Advance Payments |
-0.1 |
0.3 |
0.0 |
0.0 |
0.9 |
|
Ppd Valu Added Taxes |
0.5 |
5.0 |
-4.5 |
0.5 |
3.0 |
|
Prepaid Expenses |
2.9 |
0.8 |
1.8 |
2.3 |
3.0 |
|
Recovery of Taxes Receivable |
0.2 |
4.4 |
-5.3 |
2.8 |
-2.7 |
|
LT Prepaid Expense |
-0.1 |
-0.2 |
- |
- |
- |
|
Inventories |
-32.7 |
11.7 |
33.0 |
-30.7 |
-27.3 |
|
Trade Payables |
36.8 |
121.7 |
-98.2 |
-150.6 |
2.6 |
|
Account Payables |
13.4 |
-24.7 |
15.5 |
5.8 |
-0.6 |
|
Advances Received |
0.6 |
-1.1 |
1.4 |
0.2 |
0.0 |
|
Deposits Withheld |
-0.2 |
1.2 |
-0.5 |
0.7 |
-0.3 |
|
Security Deposit Withheld |
0.1 |
0.1 |
0.0 |
- |
- |
|
Currency Forwards, A/L |
- |
- |
- |
- |
-0.7 |
|
Accrued Expenses |
-2.0 |
-1.4 |
3.0 |
0.0 |
-0.2 |
|
VAT Withheld |
0.7 |
-0.2 |
0.3 |
- |
-0.5 |
|
Accrued Inc Tax |
21.7 |
2.3 |
-9.9 |
12.5 |
-8.2 |
|
Reserve-Guarantee Loss |
- |
- |
- |
- |
-3.7 |
|
LT Account Payable |
-1.7 |
9.7 |
0.9 |
0.0 |
-2.4 |
|
Deferred Taxes-Asset |
-0.1 |
0.8 |
-2.4 |
-3.8 |
-2.4 |
|
Deferred Income Tax Debit, Current |
0.0 |
18.8 |
-7.0 |
- |
- |
|
Deferred Income Tax Credit, Current, A/L |
9.9 |
-0.4 |
-1.2 |
- |
- |
|
Deferred Taxes-Liability |
-2.7 |
3.7 |
-0.1 |
-0.1 |
-0.6 |
|
Retiremt Allow Paymt |
-2.1 |
-1.8 |
-4.6 |
-2.3 |
-21.4 |
|
Deposits for Retirement Insurance |
-3.2 |
-1.0 |
-0.8 |
0.0 |
9.2 |
|
Nation Pension Fnd |
0.0 |
0.0 |
0.0 |
0.1 |
0.4 |
|
Government Subsidy, A/L |
- |
- |
0.3 |
- |
- |
|
Increase-Reserve for Severance & Retirem |
- |
- |
0.5 |
- |
- |
|
Reserve-Contingent Loss |
0.1 |
0.0 |
- |
- |
- |
|
Cash From Operating Activities |
218.5 |
284.6 |
73.8 |
20.3 |
10.2 |
|
|
|
|
|
|
|
|
Dec-ST Finl Assets |
- |
- |
84.5 |
70.9 |
33.1 |
|
Decrease-Other Investment Assets |
- |
- |
- |
0.4 |
- |
|
Disposal-Securities Available-for-Sale |
- |
0.2 |
0.1 |
0.0 |
- |
|
Disposal-Securities under Equity Method |
3.3 |
- |
- |
- |
- |
|
Dec-LT Finl Assets |
- |
- |
- |
- |
0.0 |
|
Dec-LT Loans |
1.2 |
0.4 |
1.0 |
0.6 |
1.3 |
|
Decrease-Receivable upon Indemnity |
- |
- |
- |
- |
3.8 |
|
Dec-Guarantee Dep. |
0.6 |
- |
1.3 |
0.3 |
0.6 |
|
Disposal-Machinery & Equipments |
0.0 |
0.0 |
0.5 |
0.4 |
- |
|
Disposal-Transportation |
- |
0.0 |
0.0 |
- |
- |
|
Disposal-Structure |
- |
- |
- |
0.0 |
- |
|
Disp-Vehicles |
0.0 |
0.3 |
0.0 |
- |
0.0 |
|
Disposal-Other Tangible Assets |
0.3 |
- |
- |
- |
- |
|
Inc-ST Finl Asset |
-136.0 |
-65.5 |
-44.5 |
-101.7 |
-43.9 |
|
Increase in Securities for Sale |
-2.8 |
-24.9 |
-5.7 |
-0.2 |
-0.5 |
|
Increase-Securities under Equity Method |
-50.2 |
-31.7 |
- |
- |
- |
|
Increase-Other Investment Assets |
-0.2 |
0.0 |
- |
- |
- |
|
Inc-LT Loans |
-0.7 |
- |
-0.5 |
-1.8 |
-1.8 |
|
Inc-Guarantee Dep |
-0.2 |
- |
-0.9 |
-0.5 |
-0.7 |
|
Acq-Fixtures |
0.0 |
-0.1 |
-0.2 |
-0.3 |
-0.2 |
|
Acq-Constructn Prog |
-16.2 |
-35.0 |
-70.2 |
-39.2 |
-16.5 |
|
Increase in Raw Materials in Transit |
- |
- |
- |
-25.5 |
-2.7 |
|
Increase-Investment Real Estate |
-0.6 |
- |
- |
- |
- |
|
Increase-Other Intangible Assets |
- |
0.0 |
0.0 |
- |
- |
|
Acq-Land |
- |
- |
- |
- |
-4.7 |
|
Acq-Buildings |
- |
-0.1 |
- |
- |
0.0 |
|
Acq-Machinery |
- |
-4.3 |
- |
- |
0.0 |
|
Acq-Vehicles |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Acq-Tools/Equipmt |
- |
- |
- |
- |
0.0 |
|
Increase-Other Tangible Assets |
0.0 |
-0.5 |
- |
- |
- |
|
Increase-Software |
- |
- |
- |
-0.1 |
0.0 |
|
Cash From Investing Activities |
-201.7 |
-161.1 |
-34.7 |
-96.7 |
-32.3 |
|
|
|
|
|
|
|
|
Increase-ST Borrowings |
- |
- |
0.1 |
- |
- |
|
Dec-ST Borrowings |
- |
- |
-0.3 |
-3.6 |
-18.0 |
|
Dec-Current Portion of LT Liabilities |
- |
-0.1 |
- |
- |
- |
|
Decrease-Current Portion of Capital Leas |
-1.3 |
- |
- |
- |
- |
|
Increase-Expense for Stock Issuance |
- |
- |
- |
0.0 |
- |
|
Cash Inflow-Consol. Scope Change, FN |
- |
-5.4 |
- |
- |
- |
|
Change-Foreign Currency Translation |
-3.2 |
-6.9 |
0.0 |
- |
- |
|
Dividends Paid |
-14.9 |
- |
- |
- |
- |
|
Cash From Financing Activities |
-19.4 |
-12.4 |
-0.2 |
-3.7 |
-18.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
0.1 |
-0.2 |
|
Net Change in Cash |
-2.6 |
111.1 |
38.9 |
-80.0 |
-40.3 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
243.4 |
109.5 |
88.0 |
184.3 |
219.5 |
|
Net Cash Ending Balance |
240.9 |
220.5 |
126.9 |
104.3 |
179.3 |
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)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
Reclassified
Normal |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
2,648.3 |
2,140.9 |
1,978.9 |
2,169.6 |
1,742.7 |
|
Revenue |
2,648.3 |
2,140.9 |
1,978.9 |
2,169.6 |
1,742.7 |
|
Other Revenue |
24.1 |
19.3 |
2.9 |
- |
- |
|
Other Revenue, Total |
24.1 |
19.3 |
2.9 |
- |
- |
|
Total Revenue |
2,672.4 |
2,160.2 |
1,981.9 |
2,169.6 |
1,742.7 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,384.6 |
1,911.7 |
1,918.3 |
2,045.3 |
1,692.2 |
|
Cost of Revenue, Total |
2,384.6 |
1,911.7 |
1,918.3 |
2,045.3 |
1,692.2 |
|
Gross Profit |
263.8 |
229.2 |
60.6 |
124.3 |
50.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
62.9 |
50.0 |
59.9 |
66.1 |
55.4 |
|
Labor & Related Expense |
12.3 |
10.6 |
9.7 |
11.7 |
11.7 |
|
Advertising Expense |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Total Selling/General/Administrative Expenses |
75.5 |
60.8 |
69.9 |
77.9 |
67.4 |
|
Research & Development |
- |
- |
1.6 |
2.4 |
1.5 |
|
Depreciation |
0.2 |
0.1 |
0.3 |
0.4 |
0.5 |
|
Amortization of Intangibles |
0.7 |
0.5 |
0.0 |
0.0 |
0.0 |
|
Depreciation/Amortization |
0.9 |
0.7 |
0.3 |
0.4 |
0.5 |
|
Total Operating Expense |
2,460.9 |
1,973.2 |
1,990.1 |
2,126.0 |
1,761.6 |
|
|
|
|
|
|
|
|
Operating Income |
211.5 |
187.0 |
-8.2 |
43.6 |
-18.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-2.7 |
-3.8 |
0.0 |
-0.1 |
-0.7 |
|
Interest Expense, Net Non-Operating |
-2.7 |
-3.8 |
0.0 |
-0.1 |
-0.7 |
|
Interest Income -
Non-Operating |
16.3 |
9.3 |
7.7 |
8.4 |
7.8 |
|
Investment Income -
Non-Operating |
13.6 |
-12.2 |
-23.2 |
-0.3 |
15.8 |
|
Interest/Investment Income - Non-Operating |
29.9 |
-2.8 |
-15.5 |
8.1 |
23.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
27.2 |
-6.6 |
-15.5 |
8.0 |
22.9 |
|
Gain (Loss) on Sale of Assets |
0.1 |
-0.1 |
-6.6 |
-1.5 |
0.0 |
|
Other Non-Operating Income (Expense) |
2.6 |
28.8 |
-2.7 |
-0.6 |
3.1 |
|
Other, Net |
2.6 |
28.8 |
-2.7 |
-0.6 |
3.1 |
|
Income Before Tax |
241.4 |
209.2 |
-33.1 |
49.5 |
7.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
71.6 |
50.4 |
-29.0 |
9.7 |
3.6 |
|
Income After Tax |
169.8 |
158.8 |
-4.1 |
39.7 |
3.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-13.3 |
-3.7 |
0.9 |
0.2 |
0.7 |
|
Equity In Affiliates |
- |
-26.6 |
- |
- |
- |
|
Net Income Before Extraord Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Basic EPS Excl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Basic/Primary EPS Incl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Diluted Weighted Average Shares |
98.3 |
98.3 |
98.3 |
98.3 |
98.3 |
|
Diluted EPS Excl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Diluted EPS Incl Extraord Items |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Dividends per Share - Common Stock Primary Issue |
0.13 |
0.12 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
12.8 |
11.6 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
2.7 |
3.8 |
0.0 |
0.1 |
0.7 |
|
Depreciation, Supplemental |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Total Special Items |
-0.1 |
0.1 |
6.6 |
1.5 |
0.0 |
|
Normalized Income Before Tax |
241.2 |
209.2 |
-26.5 |
51.0 |
7.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
2.3 |
0.3 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
71.5 |
50.4 |
-26.7 |
10.0 |
3.6 |
|
Normalized Income After Tax |
169.7 |
158.8 |
0.2 |
41.0 |
3.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
156.4 |
128.5 |
1.1 |
41.1 |
4.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
Diluted Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
Amort of Acquisition Costs, Supplemental |
0.0 |
0.0 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Rental Expenses |
0.7 |
0.5 |
0.7 |
0.7 |
1.1 |
|
Advertising Expense, Supplemental |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Research & Development Exp, Supplemental |
- |
- |
1.6 |
2.4 |
1.5 |
|
Normalized EBIT |
211.5 |
187.0 |
-8.2 |
43.6 |
-18.9 |
|
Normalized EBITDA |
296.7 |
263.2 |
86.0 |
162.1 |
97.1 |
Interim
Income Statement
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
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 |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
245.4 |
241.7 |
110.9 |
103.5 |
184.1 |
|
Short Term Investments |
220.5 |
79.5 |
7.3 |
52.4 |
21.9 |
|
Cash and Short Term Investments |
465.9 |
321.2 |
118.2 |
155.9 |
206.0 |
|
Accounts Receivable -
Trade, Gross |
219.2 |
162.4 |
94.4 |
188.6 |
200.5 |
|
Provision for Doubtful
Accounts |
-1.9 |
-1.4 |
-1.2 |
-2.2 |
-2.2 |
|
Trade Accounts Receivable - Net |
219.5 |
161.9 |
93.9 |
187.2 |
199.4 |
|
Other Receivables |
5.7 |
7.2 |
5.2 |
0.6 |
0.8 |
|
Total Receivables, Net |
225.2 |
169.1 |
99.1 |
187.8 |
200.2 |
|
Inventories - Finished Goods |
30.9 |
19.3 |
18.3 |
37.4 |
32.9 |
|
Inventories - Work In Progress |
43.9 |
39.8 |
42.0 |
79.4 |
74.2 |
|
Inventories - Raw Materials |
59.8 |
54.7 |
20.6 |
44.1 |
29.3 |
|
Inventories - Other |
27.6 |
13.1 |
9.8 |
13.7 |
13.0 |
|
Total Inventory |
162.2 |
127.0 |
90.7 |
174.6 |
149.4 |
|
Prepaid Expenses |
4.2 |
5.9 |
8.7 |
6.6 |
10.1 |
|
Deferred Income Tax - Current Asset |
0.4 |
0.4 |
6.6 |
0.7 |
0.5 |
|
Other Current Assets, Total |
0.4 |
0.4 |
6.6 |
0.7 |
0.5 |
|
Total Current Assets |
857.9 |
623.5 |
323.3 |
525.6 |
566.1 |
|
|
|
|
|
|
|
|
Buildings |
272.5 |
265.6 |
208.8 |
268.9 |
270.5 |
|
Land/Improvements |
60.0 |
58.5 |
26.6 |
34.2 |
34.3 |
|
Machinery/Equipment |
1,785.8 |
1,742.1 |
1,319.6 |
1,739.0 |
1,755.2 |
|
Construction in
Progress |
27.6 |
20.0 |
51.8 |
49.3 |
12.1 |
|
Other
Property/Plant/Equipment |
3.5 |
2.6 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
2,149.4 |
2,088.8 |
1,606.8 |
2,091.4 |
2,072.2 |
|
Accumulated Depreciation |
-1,736.3 |
-1,619.7 |
-1,249.3 |
-1,578.0 |
-1,500.8 |
|
Property/Plant/Equipment - Net |
413.1 |
469.1 |
357.5 |
513.4 |
571.4 |
|
Goodwill, Net |
-28.5 |
-44.0 |
-2.1 |
-3.2 |
-3.7 |
|
Intangibles, Net |
5.4 |
6.3 |
1.0 |
0.7 |
0.6 |
|
LT Investment - Affiliate Companies |
147.6 |
40.7 |
- |
0.8 |
0.0 |
|
LT Investments - Other |
17.2 |
51.0 |
9.6 |
12.9 |
8.3 |
|
Long Term Investments |
164.8 |
91.6 |
9.6 |
13.7 |
8.3 |
|
Note Receivable - Long Term |
4.3 |
4.6 |
4.0 |
6.0 |
4.8 |
|
Deferred Income Tax - Long Term Asset |
- |
- |
12.5 |
13.9 |
11.8 |
|
Other Long Term Assets |
12.9 |
14.6 |
14.8 |
22.4 |
24.4 |
|
Other Long Term Assets, Total |
12.9 |
14.6 |
27.3 |
36.3 |
36.2 |
|
Total Assets |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
360.6 |
332.1 |
148.3 |
328.8 |
477.2 |
|
Accrued Expenses |
20.4 |
22.2 |
2.9 |
0.0 |
0.0 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.6 |
0.8 |
4.2 |
|
Current Portion - Long Term Debt/Capital Leases |
1.7 |
1.4 |
- |
- |
- |
|
Customer Advances |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
Security Deposits |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Income Taxes Payable |
28.4 |
0.1 |
0.6 |
12.4 |
0.0 |
|
Other Payables |
42.7 |
28.1 |
48.9 |
48.7 |
42.7 |
|
Deferred Income Tax - Current Liability |
- |
6.2 |
0.4 |
1.9 |
1.0 |
|
Other Current Liabilities |
1.8 |
1.9 |
0.5 |
1.3 |
0.6 |
|
Other Current liabilities, Total |
74.5 |
37.3 |
51.9 |
64.7 |
44.5 |
|
Total Current Liabilities |
457.2 |
393.1 |
203.7 |
394.2 |
526.0 |
|
|
|
|
|
|
|
|
Capital Lease Obligations |
2.5 |
4.2 |
- |
- |
- |
|
Total Long Term Debt |
2.5 |
4.2 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
4.2 |
5.7 |
0.6 |
0.8 |
4.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
38.3 |
11.6 |
0.9 |
1.4 |
2.5 |
|
Deferred Income Tax |
38.3 |
11.6 |
0.9 |
1.4 |
2.5 |
|
Minority Interest |
33.2 |
27.3 |
3.0 |
3.7 |
3.7 |
|
Reserves |
0.6 |
0.5 |
0.4 |
0.5 |
0.5 |
|
Pension Benefits - Underfunded |
6.3 |
6.6 |
5.2 |
8.1 |
6.1 |
|
Other Long Term Liabilities |
18.4 |
12.8 |
2.0 |
1.6 |
1.6 |
|
Other Liabilities, Total |
25.3 |
19.9 |
7.5 |
10.2 |
8.2 |
|
Total Liabilities |
556.5 |
456.1 |
215.1 |
409.5 |
540.4 |
|
|
|
|
|
|
|
|
Common Stock |
433.2 |
422.2 |
390.4 |
525.3 |
522.4 |
|
Common Stock |
433.2 |
422.2 |
390.4 |
525.3 |
522.4 |
|
Retained Earnings (Accumulated Deficit) |
415.0 |
261.8 |
111.9 |
154.3 |
115.4 |
|
Treasury Stock - Common |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Unrealized Gain (Loss) |
28.8 |
26.8 |
1.5 |
3.5 |
-0.1 |
|
Translation Adjustment |
-3.7 |
-1.2 |
1.8 |
0.1 |
-0.5 |
|
Other Equity |
- |
- |
- |
0.0 |
6.3 |
|
Other Equity, Total |
-3.7 |
-1.2 |
1.8 |
0.0 |
5.8 |
|
Total Equity |
873.4 |
709.7 |
505.5 |
683.0 |
643.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Total Common Shares Outstanding |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
600 |
606 |
607 |
604 |
609 |
|
Number of Common Shareholders |
22,113 |
15,626 |
17,381 |
10,998 |
10,568 |
|
Deferred Revenue - Current |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
Total Capital Leases, Supplemental |
4.2 |
5.7 |
- |
- |
- |
|
Capital Lease Payments Due in Year 1 |
1.7 |
1.4 |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.6 |
1.1 |
- |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.3 |
2.1 |
- |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
1.3 |
2.1 |
- |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
- |
- |
- |
Interim
Balance Sheet
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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 |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
169.8 |
132.2 |
-4.1 |
39.7 |
3.5 |
|
Depreciation |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Depreciation/Depletion |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Amortization of Intangibles |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Amortization |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Deferred Taxes |
7.0 |
22.9 |
-10.6 |
-3.9 |
-3.1 |
|
Unusual Items |
-1.4 |
-9.7 |
18.5 |
5.6 |
1.9 |
|
Equity in Net Earnings (Loss) |
-14.6 |
0.0 |
0.7 |
-0.5 |
0.2 |
|
Other Non-Cash Items |
6.6 |
-19.9 |
-4.4 |
7.4 |
2.0 |
|
Non-Cash Items |
-9.4 |
-29.7 |
14.8 |
12.5 |
4.1 |
|
Accounts Receivable |
-68.8 |
-39.4 |
41.4 |
15.0 |
-64.2 |
|
Inventories |
-32.8 |
11.9 |
33.0 |
-30.7 |
-26.3 |
|
Prepaid Expenses |
3.3 |
5.6 |
-2.7 |
2.8 |
6.0 |
|
Accounts Payable |
48.4 |
106.8 |
-81.7 |
-144.8 |
-0.4 |
|
Accrued Expenses |
-2.0 |
-1.4 |
3.0 |
0.0 |
-0.2 |
|
Taxes Payable |
22.4 |
2.1 |
-9.6 |
12.5 |
-8.7 |
|
Other Liabilities |
-4.7 |
-2.6 |
-3.8 |
-1.3 |
-15.8 |
|
Other Assets & Liabilities, Net |
- |
- |
- |
- |
-0.7 |
|
Changes in Working Capital |
-34.2 |
82.9 |
-20.4 |
-146.6 |
-110.3 |
|
Cash from Operating Activities |
218.5 |
284.6 |
73.8 |
20.3 |
10.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-16.8 |
-40.0 |
-70.4 |
-65.0 |
-24.2 |
|
Purchase/Acquisition of Intangibles |
- |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Capital Expenditures |
-16.8 |
-40.0 |
-70.4 |
-65.1 |
-24.2 |
|
Sale of Fixed Assets |
0.3 |
0.4 |
0.5 |
0.4 |
0.0 |
|
Sale/Maturity of Investment |
3.3 |
0.2 |
84.6 |
71.2 |
33.1 |
|
Purchase of Investments |
-189.3 |
-122.1 |
-50.2 |
-101.9 |
-44.4 |
|
Other Investing Cash Flow |
0.8 |
0.4 |
0.8 |
-1.4 |
3.2 |
|
Other Investing Cash Flow Items, Total |
-184.9 |
-121.1 |
35.7 |
-31.7 |
-8.1 |
|
Cash from Investing Activities |
-201.7 |
-161.1 |
-34.7 |
-96.7 |
-32.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-3.2 |
-12.3 |
0.0 |
0.0 |
- |
|
Financing Cash Flow Items |
-3.2 |
-12.3 |
0.0 |
0.0 |
- |
|
Total Cash Dividends Paid |
-14.9 |
- |
- |
- |
- |
|
Short Term Debt Issued |
- |
- |
0.1 |
- |
- |
|
Short Term Debt Reduction |
- |
- |
-0.3 |
-3.6 |
-18.0 |
|
Short Term Debt, Net |
- |
- |
-0.2 |
-3.6 |
-18.0 |
|
Long Term Debt
Reduction |
-1.3 |
-0.1 |
- |
- |
- |
|
Long Term Debt, Net |
-1.3 |
-0.1 |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
-1.3 |
-0.1 |
-0.2 |
-3.6 |
-18.0 |
|
Cash from Financing Activities |
-19.4 |
-12.4 |
-0.2 |
-3.7 |
-18.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
0.1 |
-0.2 |
|
Net Change in Cash |
-2.6 |
111.1 |
38.9 |
-80.0 |
-40.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
243.4 |
109.5 |
88.0 |
184.3 |
219.5 |
|
Net Cash - Ending Balance |
240.9 |
220.5 |
126.9 |
104.3 |
179.3 |
Interim
Cash Flows
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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 |
Reclassified
Normal |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
- |
- |
2,169.6 |
1,742.7 |
|
Finished Product Revenue |
2,469.3 |
1,962.5 |
1,796.7 |
- |
- |
|
Merchandise Revenue |
179.1 |
178.4 |
182.3 |
- |
- |
|
Other Revenue |
24.1 |
19.3 |
2.9 |
- |
- |
|
Total Revenue |
2,672.4 |
2,160.2 |
1,981.9 |
2,169.6 |
1,742.7 |
|
|
|
|
|
|
|
|
Cost-Revenue |
- |
- |
- |
2,045.3 |
1,692.2 |
|
Cost-Finished Goods Sold |
2,189.2 |
1,725.0 |
1,678.2 |
- |
- |
|
Cost-Merchandise Sold |
178.1 |
173.3 |
218.1 |
- |
- |
|
Cost-Other Sales |
17.3 |
13.4 |
22.0 |
- |
- |
|
Salaries |
9.4 |
8.4 |
6.9 |
8.7 |
7.4 |
|
Retirement Allowance |
0.7 |
0.8 |
1.0 |
1.0 |
2.4 |
|
Employee Benefits |
2.1 |
1.4 |
1.8 |
1.9 |
2.0 |
|
Travel Expenses |
1.0 |
0.6 |
0.7 |
0.6 |
0.5 |
|
Communication Exp. |
0.3 |
0.3 |
0.2 |
0.3 |
0.3 |
|
Taxes and Dues |
0.3 |
0.2 |
0.3 |
0.3 |
0.3 |
|
Consumable Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Printing Expense |
0.2 |
0.2 |
0.1 |
0.2 |
0.1 |
|
Rent |
0.6 |
0.5 |
0.7 |
0.7 |
1.1 |
|
Leasing Expense |
0.1 |
- |
- |
- |
- |
|
Repair Expenses |
0.8 |
0.8 |
0.4 |
0.4 |
0.4 |
|
Vehicles Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Insurance Expenses |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Commissions Paid |
11.1 |
9.7 |
10.6 |
3.7 |
4.1 |
|
Sales Commission |
2.0 |
1.6 |
- |
- |
- |
|
Shipping & Storage Expense |
44.9 |
34.4 |
43.3 |
5.7 |
5.0 |
|
Entertainment |
0.4 |
0.3 |
0.4 |
0.4 |
0.4 |
|
Advertising Expense |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Education & Training |
0.3 |
0.3 |
0.5 |
0.6 |
0.3 |
|
Other Exporting Exp |
- |
- |
- |
37.9 |
29.6 |
|
Expenses for Samples |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Expense-Uniforms |
0.0 |
- |
- |
- |
- |
|
Conference Expenses |
- |
- |
- |
0.1 |
0.1 |
|
Amort. of Bad Debts |
0.4 |
0.4 |
1.4 |
1.2 |
0.6 |
|
Development Expense |
- |
- |
1.6 |
2.4 |
1.5 |
|
Depreciation Expense |
0.2 |
0.1 |
0.3 |
0.4 |
0.5 |
|
Amortization of Intangibles |
0.7 |
0.5 |
0.0 |
0.0 |
0.0 |
|
Services Expenses |
- |
- |
0.8 |
5.3 |
3.5 |
|
Packaging Expenses |
- |
- |
- |
8.4 |
8.4 |
|
Miscellaneous Operating Expense |
0.5 |
0.5 |
0.2 |
0.1 |
0.3 |
|
Total Operating Expense |
2,460.9 |
1,973.2 |
1,990.1 |
2,126.0 |
1,761.6 |
|
|
|
|
|
|
|
|
Gain-Disposal of Investment Assets |
- |
- |
- |
0.4 |
- |
|
Interest Income |
16.3 |
9.3 |
7.7 |
8.4 |
7.8 |
|
Rental Income |
0.0 |
0.1 |
0.2 |
- |
- |
|
Gain-Valuation of ST Investment Assets |
0.2 |
- |
- |
- |
- |
|
G-Tang Asst Disposal |
0.3 |
0.0 |
7.8 |
0.2 |
0.0 |
|
G-For Curr Transactn |
34.7 |
44.2 |
64.4 |
17.2 |
29.8 |
|
G-For Exch Translatn |
5.5 |
2.6 |
17.2 |
6.8 |
6.8 |
|
Revers-Doubtful Acct |
- |
0.0 |
0.8 |
0.0 |
4.7 |
|
Recovery-Negative Goodwill Amortization |
1.3 |
13.3 |
0.4 |
0.5 |
0.7 |
|
Gain-Disposal of Investment Securities |
- |
0.0 |
- |
- |
- |
|
Gain-Contract Cancellation |
- |
0.0 |
- |
- |
- |
|
Gain-Assets Contributed |
- |
13.1 |
- |
- |
- |
|
Fees Received |
1.0 |
0.9 |
1.1 |
1.2 |
1.1 |
|
Loss-Disposal of Sec Available-Sale |
- |
- |
- |
0.0 |
- |
|
Other Non-Op. Income |
1.6 |
3.9 |
1.4 |
1.3 |
3.8 |
|
Interest Expense, Non-Operating |
-2.7 |
-3.8 |
0.0 |
-0.1 |
-0.7 |
|
Other Amortization |
0.0 |
-1.1 |
-2.4 |
0.0 |
-0.4 |
|
L-Tang.Asst Disposal |
-0.1 |
-0.1 |
-14.3 |
-1.7 |
0.0 |
|
Loss-Reduction of Tangible Assets |
- |
0.0 |
- |
- |
- |
|
L-For Curr Transactn |
-36.0 |
-48.8 |
-96.3 |
-16.3 |
-17.6 |
|
L-For Exch Translatn |
-6.5 |
-10.0 |
-8.0 |
-8.9 |
-1.8 |
|
Donations Paid |
-0.8 |
-0.4 |
-0.1 |
-0.2 |
0.0 |
|
L-Currency Futures Trading |
- |
- |
- |
- |
-1.2 |
|
Suspension Fixed Construction Expense |
- |
- |
-0.5 |
-0.3 |
-1.9 |
|
Loss-Disposal of Investment Securities |
- |
-0.1 |
- |
- |
- |
|
Depreciation-Suspended Assets |
- |
-0.2 |
-2.9 |
-2.2 |
-4.3 |
|
Other Non-Op Expense |
-0.6 |
-0.8 |
-0.8 |
-0.9 |
-0.7 |
|
Gain-Disposal of Equity Method Sec. |
1.7 |
- |
- |
- |
- |
|
Loss-Disposal of Equity Method Sec. |
-0.6 |
- |
- |
- |
- |
|
Loss-Reduction of Equity Method Sec. |
- |
- |
- |
-0.1 |
- |
|
Gain under Equity Method |
16.2 |
1.3 |
- |
0.6 |
- |
|
Loss Under Equity Method |
-1.5 |
-1.3 |
-0.7 |
- |
-0.2 |
|
Net Income Before Taxes |
241.4 |
209.2 |
-33.1 |
49.5 |
7.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
71.6 |
50.4 |
-29.0 |
9.7 |
3.6 |
|
Net Income After Taxes |
169.8 |
158.8 |
-4.1 |
39.7 |
3.5 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
-13.3 |
-3.7 |
0.9 |
0.2 |
0.7 |
|
Earning Before Acquisition of Subsidiary |
- |
-26.6 |
- |
- |
- |
|
Net Income Before Extra. Items |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Basic EPS Excluding ExtraOrdin |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Basic EPS Including ExtraOrdin |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
156.5 |
128.4 |
-3.2 |
39.9 |
4.3 |
|
Diluted Weighted Average Share |
98.3 |
98.3 |
98.3 |
98.3 |
98.3 |
|
Diluted EPS Excluding ExtraOrd |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
Diluted EPS Including ExtraOrd |
1.59 |
1.31 |
-0.03 |
0.41 |
0.04 |
|
DPS-Common Stock |
0.13 |
0.12 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
12.8 |
11.6 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
241.2 |
209.2 |
-26.5 |
51.0 |
7.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
71.5 |
50.4 |
-26.7 |
10.0 |
3.6 |
|
Normalized Income After Taxes |
169.7 |
158.8 |
0.2 |
41.0 |
3.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
156.4 |
128.5 |
1.1 |
41.1 |
4.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
Diluted Normalized EPS |
1.59 |
1.31 |
0.01 |
0.42 |
0.04 |
|
R&D Expense, Supplemental |
- |
- |
1.6 |
2.4 |
1.5 |
|
Advertising Expense |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Interest Expense |
2.7 |
3.8 |
0.0 |
0.1 |
0.7 |
|
Rental Expense |
0.7 |
0.5 |
0.7 |
0.7 |
1.1 |
|
Depreciation |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Amort of Intangibles, Supplemental |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Amort of Acquisition Costs,Negative |
0.0 |
0.0 |
- |
- |
- |
Interim
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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 |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
245.4 |
241.7 |
110.9 |
103.5 |
184.1 |
|
ST Investment Assets |
220.5 |
79.5 |
- |
- |
- |
|
ST Finl Assets |
- |
- |
4.0 |
52.3 |
21.9 |
|
ST Securities Available for Sale |
- |
- |
3.3 |
0.1 |
0.0 |
|
Trade Rcvbls,G |
219.2 |
162.4 |
94.4 |
188.6 |
200.5 |
|
Allw-Doubtful Ac |
-1.9 |
-1.4 |
-1.2 |
-2.2 |
-2.2 |
|
Other Rcvbls |
5.7 |
6.9 |
0.5 |
0.6 |
0.8 |
|
Receivable-Recovery of Taxes |
- |
0.2 |
4.7 |
- |
- |
|
Advance Payments |
0.5 |
0.3 |
0.2 |
0.3 |
0.3 |
|
Prepaid Expenses |
3.8 |
4.9 |
2.8 |
3.8 |
4.0 |
|
Prepaid Inc Tax |
- |
- |
- |
0.0 |
2.8 |
|
Deferred Income Taxes-Debit, Current |
0.4 |
0.4 |
6.6 |
0.7 |
0.5 |
|
Prepaid VAT |
0.4 |
1.0 |
6.0 |
2.7 |
3.2 |
|
Accrued Income |
2.1 |
0.9 |
0.7 |
0.8 |
1.1 |
|
Finished Goods |
30.9 |
19.3 |
15.9 |
37.4 |
29.0 |
|
Semi-finish Good |
33.2 |
30.4 |
30.4 |
63.8 |
57.9 |
|
Work in Progress |
10.7 |
9.4 |
11.6 |
15.6 |
16.3 |
|
Raw Materials |
59.8 |
54.7 |
20.6 |
44.1 |
29.2 |
|
Stored Goods |
12.6 |
11.4 |
9.6 |
13.3 |
12.5 |
|
Stored Good-Tran |
- |
- |
- |
0.1 |
0.1 |
|
Adjustment, Inventory |
0.0 |
- |
- |
- |
- |
|
Raw Mat.Transit |
- |
- |
- |
0.0 |
0.1 |
|
Residual Products |
- |
- |
2.4 |
0.0 |
0.1 |
|
Goods in Transit |
14.5 |
1.4 |
- |
- |
- |
|
Merchandises in Transit |
- |
- |
- |
0.0 |
3.9 |
|
Total Current Assets |
857.9 |
623.5 |
323.3 |
525.6 |
566.1 |
|
|
|
|
|
|
|
|
LT Finl Assets |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Secs for Sale |
14.9 |
50.9 |
9.5 |
12.9 |
8.2 |
|
Affilates Stocks |
147.6 |
40.7 |
- |
0.8 |
0.0 |
|
Investment-Real Estate |
2.0 |
- |
- |
- |
- |
|
LT Loan |
4.3 |
4.6 |
4.0 |
6.0 |
4.8 |
|
LT Guarantee Dep |
3.6 |
3.9 |
4.1 |
5.9 |
5.7 |
|
LT Prepaid Expen |
9.3 |
10.7 |
10.7 |
16.5 |
18.7 |
|
Other Investment Assets |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Land |
60.0 |
58.5 |
26.6 |
34.2 |
34.3 |
|
Buildings |
60.6 |
59.2 |
39.6 |
41.5 |
41.6 |
|
Deprec-Buildings |
-24.3 |
-22.6 |
-8.6 |
-10.0 |
-8.8 |
|
Structures |
211.8 |
206.4 |
169.2 |
227.4 |
229.0 |
|
Deprec-Structure |
-174.8 |
-167.3 |
-146.1 |
-185.8 |
-175.5 |
|
Tools/Equipments |
2.5 |
2.4 |
2.1 |
2.6 |
2.5 |
|
Depr-Tool/Equip |
-2.2 |
-2.0 |
-1.8 |
-2.1 |
-1.9 |
|
Machinery/Equip. |
1,769.6 |
1,726.4 |
1,310.3 |
1,726.7 |
1,743.5 |
|
Depr-Mach/Equip. |
-1,521.1 |
-1,415.6 |
-1,086.6 |
-1,372.4 |
-1,307.7 |
|
Machinery & Equipment-Government Subsidy |
-0.2 |
-0.2 |
-0.2 |
- |
- |
|
Transport Equip. |
2.7 |
2.5 |
1.8 |
2.4 |
2.3 |
|
Deprec-Transport |
-2.5 |
-2.2 |
-1.6 |
-2.0 |
-2.0 |
|
Misc. Fixtures |
11.2 |
11.0 |
5.7 |
7.2 |
6.9 |
|
Software, Intangible |
1.6 |
2.4 |
0.3 |
0.1 |
0.0 |
|
Deprec-Fixtures |
-10.3 |
-9.8 |
-4.7 |
-5.6 |
-4.9 |
|
Construc in Prog |
27.6 |
20.0 |
51.8 |
49.3 |
11.9 |
|
Equip In Transit |
- |
- |
- |
0.0 |
0.3 |
|
Other Tangible Assets |
3.5 |
2.6 |
- |
- |
- |
|
Other Tangibles-Depreciation |
-1.0 |
-0.1 |
- |
- |
- |
|
Other Intangible |
3.8 |
4.0 |
0.7 |
0.6 |
0.6 |
|
Deferred Income Tax, Debit |
- |
- |
12.5 |
13.9 |
11.8 |
|
Negiative Goodwill |
-28.5 |
-44.0 |
-2.1 |
-3.2 |
-3.7 |
|
Total Assets |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
Trade Payable |
360.6 |
332.1 |
148.3 |
328.8 |
477.2 |
|
Accounts Payable |
42.7 |
28.1 |
48.9 |
48.7 |
42.7 |
|
Inc Tax Payable |
28.4 |
0.1 |
0.6 |
12.4 |
0.0 |
|
Accrued Expenses |
19.7 |
22.2 |
2.6 |
0.0 |
0.0 |
|
Advances Receivd |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
VAT Withheld |
0.7 |
- |
0.2 |
- |
- |
|
Sec Dep Withheld |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Deposit Withheld |
1.8 |
1.9 |
0.5 |
1.3 |
0.6 |
|
Current Portion of LT Debt |
1.7 |
1.4 |
- |
- |
- |
|
ST Borrowings |
- |
- |
0.6 |
0.8 |
4.2 |
|
Deferred Income Tax Credits |
- |
6.2 |
0.4 |
1.9 |
1.0 |
|
Total Current Liability |
457.2 |
393.1 |
203.7 |
394.2 |
526.0 |
|
|
|
|
|
|
|
|
Capital Lease Liabilities |
2.5 |
4.2 |
- |
- |
- |
|
Total Long Term Debt |
2.5 |
4.2 |
- |
- |
- |
|
|
|
|
|
|
|
|
Accident Loss Reserves |
0.6 |
0.5 |
0.4 |
0.5 |
0.5 |
|
Deferred Income Tax, Credit |
38.3 |
11.6 |
0.9 |
1.4 |
2.5 |
|
Security Deposit, LT |
0.0 |
- |
- |
- |
- |
|
LT Accounts Pay |
18.4 |
12.8 |
2.0 |
1.6 |
1.6 |
|
Retirement Resrv |
19.9 |
16.7 |
5.2 |
8.1 |
6.1 |
|
Minority Interest |
33.2 |
27.3 |
3.0 |
3.7 |
3.7 |
|
Deposit-Retirement Insurance |
-13.5 |
-10.0 |
- |
- |
- |
|
Transfer to National Pension Fund |
-0.1 |
-0.1 |
- |
- |
- |
|
Total Liabilities |
556.5 |
456.1 |
215.1 |
409.5 |
540.4 |
|
|
|
|
|
|
|
|
Common Stock |
433.2 |
422.2 |
390.4 |
525.3 |
522.4 |
|
Consolidated Retained Earnings |
415.0 |
261.8 |
111.9 |
154.3 |
115.4 |
|
Discounts on Stock Issuance |
- |
- |
- |
0.0 |
- |
|
Unissu Share Cap |
- |
- |
- |
- |
6.3 |
|
G-Secs. for Sale Valuation |
2.2 |
2.0 |
1.5 |
3.5 |
0.0 |
|
Negative Capital Change U/ Equity Mtd. |
-0.7 |
- |
0.0 |
0.0 |
-0.1 |
|
Capital Change, Equity Method |
4.4 |
2.7 |
- |
- |
- |
|
Overseas Business Translation Debit |
-3.7 |
-1.2 |
1.8 |
0.1 |
-0.5 |
|
Treasury Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Loss-Valuation of Investment Securities |
-0.8 |
-1.0 |
- |
- |
- |
|
Gain-Revaluation |
23.8 |
23.2 |
- |
- |
- |
|
Total Equity |
873.4 |
709.7 |
505.5 |
683.0 |
643.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
1,429.9 |
1,165.8 |
720.6 |
1,092.5 |
1,183.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
Total Common Shares Outstandin |
98.3 |
98.3 |
98.3 |
98.3 |
97.2 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
1.5 |
0.9 |
1.5 |
0.4 |
0.2 |
|
Full-Time Employees |
600 |
606 |
607 |
604 |
609 |
|
Number of Common Shareholders |
22,113 |
15,626 |
17,381 |
10,998 |
10,568 |
|
Capital Leases Due in 1 Year |
1.7 |
1.4 |
- |
- |
- |
|
Capital Leases Due in 5 Year |
2.5 |
4.2 |
- |
- |
- |
|
Total Capital Leases |
4.2 |
5.7 |
- |
- |
- |
Interim Balance Sheet
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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 |
Reclassified
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
169.8 |
132.2 |
-4.1 |
39.7 |
3.5 |
|
Depreciation |
84.4 |
75.6 |
94.1 |
118.5 |
116.0 |
|
Amortization of Intangible Assets |
0.9 |
0.6 |
0.1 |
0.0 |
0.0 |
|
Amortization-Present Value Discount |
0.1 |
- |
- |
- |
- |
|
Retirement Allowance |
4.8 |
3.7 |
4.0 |
4.4 |
11.7 |
|
Amort-Bad Debt Exp |
0.4 |
0.4 |
1.4 |
1.2 |
0.6 |
|
L-For Exch Translatn |
6.1 |
3.8 |
6.3 |
8.9 |
1.8 |
|
Repair Expense |
- |
- |
- |
0.2 |
- |
|
Loss Under Equity Method |
1.5 |
1.3 |
0.7 |
- |
0.2 |
|
Amort-Other Bad Debt Exp |
0.0 |
1.0 |
2.4 |
0.0 |
0.4 |
|
Loss-Reduct. of Sec. under Equity Method |
- |
- |
- |
0.1 |
- |
|
Loss-Disposal of Sec under Equity Method |
0.6 |
- |
- |
- |
- |
|
Loss-Disposal of Sec. Available-for-Sale |
- |
- |
- |
0.0 |
- |
|
L-Inventory Valuatn |
- |
- |
12.0 |
4.4 |
1.9 |
|
L-Tangible Asst Disp |
0.1 |
0.1 |
14.3 |
1.7 |
0.0 |
|
Loss-Reduction of Tangible Assets |
- |
0.0 |
- |
- |
- |
|
Miscellaneous Loss |
1.3 |
- |
- |
- |
- |
|
Loss-Disposal of Investment Securities |
- |
0.1 |
- |
- |
- |
|
Miscellaneous Gain |
- |
- |
0.0 |
0.0 |
- |
|
Gain under Equity Method |
-16.2 |
-1.3 |
- |
-0.6 |
- |
|
Interest Income |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
-0.2 |
|
G-For Exch Translatn |
-4.6 |
-2.3 |
-17.2 |
-6.6 |
-6.8 |
|
Gain-Disposal of Investment Assets |
- |
- |
- |
-0.4 |
- |
|
Revers-Doubtful Acct |
- |
0.0 |
-0.8 |
0.0 |
-4.7 |
|
Recovery-Negative Goodwill Amortization |
-1.3 |
-13.3 |
-0.4 |
-0.5 |
-0.7 |
|
G-Tangible Asst Disp |
-0.3 |
0.0 |
-7.8 |
-0.2 |
0.0 |
|
Gain-Disp. of Securities/Equity Method |
-1.7 |
- |
- |
- |
- |
|
Gain-Valuation of ST Investment Assets |
-0.2 |
- |
- |
- |
- |
|
Gain-Disposal of Investment Securities |
- |
0.0 |
- |
- |
- |
|
Gain-Assets Contributed |
- |
-13.1 |
- |
- |
- |
|
Recovery-Inventory Valuation Loss |
0.0 |
-9.9 |
- |
- |
- |
|
Trade Receivables |
-68.9 |
-43.8 |
46.8 |
11.6 |
-60.7 |
|
Account Receivables |
1.0 |
0.2 |
-0.1 |
0.4 |
-0.3 |
|
Accrued Income |
-1.1 |
-0.1 |
-0.1 |
0.3 |
-0.5 |
|
Advance Payments |
-0.1 |
0.3 |
0.0 |
0.0 |
0.9 |
|
Ppd Valu Added Taxes |
0.5 |
5.0 |
-4.5 |
0.5 |
3.0 |
|
Prepaid Expenses |
2.9 |
0.8 |
1.8 |
2.3 |
3.0 |
|
Recovery of Taxes Receivable |
0.2 |
4.4 |
-5.3 |
2.8 |
-2.7 |
|
LT Prepaid Expense |
-0.1 |
-0.2 |
- |
- |
- |
|
Inventories |
-32.7 |
11.7 |
33.0 |
-30.7 |
-27.3 |
|
Trade Payables |
36.8 |
121.7 |
-98.2 |
-150.6 |
2.6 |
|
Account Payables |
13.4 |
-24.7 |
15.5 |
5.8 |
-0.6 |
|
Advances Received |
0.6 |
-1.1 |
1.4 |
0.2 |
0.0 |
|
Deposits Withheld |
-0.2 |
1.2 |
-0.5 |
0.7 |
-0.3 |
|
Security Deposit Withheld |
0.1 |
0.1 |
0.0 |
- |
- |
|
Currency Forwards, A/L |
- |
- |
- |
- |
-0.7 |
|
Accrued Expenses |
-2.0 |
-1.4 |
3.0 |
0.0 |
-0.2 |
|
VAT Withheld |
0.7 |
-0.2 |
0.3 |
- |
-0.5 |
|
Accrued Inc Tax |
21.7 |
2.3 |
-9.9 |
12.5 |
-8.2 |
|
Reserve-Guarantee Loss |
- |
- |
- |
- |
-3.7 |
|
LT Account Payable |
-1.7 |
9.7 |
0.9 |
0.0 |
-2.4 |
|
Deferred Taxes-Asset |
-0.1 |
0.8 |
-2.4 |
-3.8 |
-2.4 |
|
Deferred Income Tax Debit, Current |
0.0 |
18.8 |
-7.0 |
- |
- |
|
Deferred Income Tax Credit, Current, A/L |
9.9 |
-0.4 |
-1.2 |
- |
- |
|
Deferred Taxes-Liability |
-2.7 |
3.7 |
-0.1 |
-0.1 |
-0.6 |
|
Retiremt Allow Paymt |
-2.1 |
-1.8 |
-4.6 |
-2.3 |
-21.4 |
|
Deposits for Retirement Insurance |
-3.2 |
-1.0 |
-0.8 |
0.0 |
9.2 |
|
Nation Pension Fnd |
0.0 |
0.0 |
0.0 |
0.1 |
0.4 |
|
Government Subsidy, A/L |
- |
- |
0.3 |
- |
- |
|
Increase-Reserve for Severance & Retirem |
- |
- |
0.5 |
- |
- |
|
Reserve-Contingent Loss |
0.1 |
0.0 |
- |
- |
- |
|
Cash From Operating Activities |
218.5 |
284.6 |
73.8 |
20.3 |
10.2 |
|
|
|
|
|
|
|
|
Dec-ST Finl Assets |
- |
- |
84.5 |
70.9 |
33.1 |
|
Decrease-Other Investment Assets |
- |
- |
- |
0.4 |
- |
|
Disposal-Securities Available-for-Sale |
- |
0.2 |
0.1 |
0.0 |
- |
|
Disposal-Securities under Equity Method |
3.3 |
- |
- |
- |
- |
|
Dec-LT Finl Assets |
- |
- |
- |
- |
0.0 |
|
Dec-LT Loans |
1.2 |
0.4 |
1.0 |
0.6 |
1.3 |
|
Decrease-Receivable upon Indemnity |
- |
- |
- |
- |
3.8 |
|
Dec-Guarantee Dep. |
0.6 |
- |
1.3 |
0.3 |
0.6 |
|
Disposal-Machinery & Equipments |
0.0 |
0.0 |
0.5 |
0.4 |
- |
|
Disposal-Transportation |
- |
0.0 |
0.0 |
- |
- |
|
Disposal-Structure |
- |
- |
- |
0.0 |
- |
|
Disp-Vehicles |
0.0 |
0.3 |
0.0 |
- |
0.0 |
|
Disposal-Other Tangible Assets |
0.3 |
- |
- |
- |
- |
|
Inc-ST Finl Asset |
-136.0 |
-65.5 |
-44.5 |
-101.7 |
-43.9 |
|
Increase in Securities for Sale |
-2.8 |
-24.9 |
-5.7 |
-0.2 |
-0.5 |
|
Increase-Securities under Equity Method |
-50.2 |
-31.7 |
- |
- |
- |
|
Increase-Other Investment Assets |
-0.2 |
0.0 |
- |
- |
- |
|
Inc-LT Loans |
-0.7 |
- |
-0.5 |
-1.8 |
-1.8 |
|
Inc-Guarantee Dep |
-0.2 |
- |
-0.9 |
-0.5 |
-0.7 |
|
Acq-Fixtures |
0.0 |
-0.1 |
-0.2 |
-0.3 |
-0.2 |
|
Acq-Constructn Prog |
-16.2 |
-35.0 |
-70.2 |
-39.2 |
-16.5 |
|
Increase in Raw Materials in Transit |
- |
- |
- |
-25.5 |
-2.7 |
|
Increase-Investment Real Estate |
-0.6 |
- |
- |
- |
- |
|
Increase-Other Intangible Assets |
- |
0.0 |
0.0 |
- |
- |
|
Acq-Land |
- |
- |
- |
- |
-4.7 |
|
Acq-Buildings |
- |
-0.1 |
- |
- |
0.0 |
|
Acq-Machinery |
- |
-4.3 |
- |
- |
0.0 |
|
Acq-Vehicles |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Acq-Tools/Equipmt |
- |
- |
- |
- |
0.0 |
|
Increase-Other Tangible Assets |
0.0 |
-0.5 |
- |
- |
- |
|
Increase-Software |
- |
- |
- |
-0.1 |
0.0 |
|
Cash From Investing Activities |
-201.7 |
-161.1 |
-34.7 |
-96.7 |
-32.3 |
|
|
|
|
|
|
|
|
Increase-ST Borrowings |
- |
- |
0.1 |
- |
- |
|
Dec-ST Borrowings |
- |
- |
-0.3 |
-3.6 |
-18.0 |
|
Dec-Current Portion of LT Liabilities |
- |
-0.1 |
- |
- |
- |
|
Decrease-Current Portion of Capital Leas |
-1.3 |
- |
- |
- |
- |
|
Increase-Expense for Stock Issuance |
- |
- |
- |
0.0 |
- |
|
Cash Inflow-Consol. Scope Change, FN |
- |
-5.4 |
- |
- |
- |
|
Change-Foreign Currency Translation |
-3.2 |
-6.9 |
0.0 |
- |
- |
|
Dividends Paid |
-14.9 |
- |
- |
- |
- |
|
Cash From Financing Activities |
-19.4 |
-12.4 |
-0.2 |
-3.7 |
-18.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
- |
0.1 |
-0.2 |
|
Net Change in Cash |
-2.6 |
111.1 |
38.9 |
-80.0 |
-40.3 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
243.4 |
109.5 |
88.0 |
184.3 |
219.5 |
|
Net Cash Ending Balance |
240.9 |
220.5 |
126.9 |
104.3 |
179.3 |
Interim
Cash Flows
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
Geographic
Segments
Financials in: As Reported (mil)
|
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Business
Segments
Financials in: As Reported (mil)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.22 |
|
UK Pound |
1 |
Rs.75.63 |
|
Euro |
1 |
Rs.65.65 |
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.