MIRA
INFORM REPORT
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Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
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Name : |
KUKDO CHEMICAL CO LTD |
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Registered Office : |
345-35, Gasan-Dong, Geumcheon-Gu, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.02.1972 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacture and sale of epoxy and polyamide resins |
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No. of Employees : |
319 employees |
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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Maximum Credit Limit : |
USD 13,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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Source : CIA |
Company name & address
Kukdo Chemical Co Ltd
345-35, Gasan-Dong, Geumcheon-Gu
Seoul, 153802
Korea, Republic of
Tel: 82-2-32821400
Fax: 82-2-32821486
Web: www.kukdo.com
Synthesis
Employees: 319
Company Type: Public Parent
Corporate Family: 3
Companies
Traded: Korea
Stock Exchange: 007690
Incorporation Date:
22-Feb-1972
Auditor: Shinhan Accounting
Corporation
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: South
Korean Won
Annual Sales: 789.6
1
Net Income: 22.0
Total Assets: 492.6
2
Market Value: 224.6 (07-Dec-2012)
Business Description
KUKDO CHEMICAL Co., Ltd. is a Korea-based company engaged in the
manufacture and sale of epoxy and polyamide resins. The Company operates in two
segments: epoxy segment and polyol segment. The epoxy segment specializes in the
development of epoxy resin products including bisphenol-A epoxy resin,
bisphenol-F type epoxy resin, brominated epoxy resin, non-halogen flame
retardant epoxy and others used in paints, electrical and electronic parts,
aerospace and information technology. The polyol segment offers coating
polyols, adhesive polyols, sealant polyols, elastomer polyols, flexible
polyols, rigid polyols and others used as building insulation materials,
automobile interior materials, waterproofs, adhesives and so on. For the fiscal
year ended 31 December 2011, Kukdo Chemical Co Ltd revenues increased 9% to
W874.83B. Net income decreased 23% to W24.32B. Revenues reflect Epoxy segment
increase of 6% to W821.17B, Polyol segment increase of 14% to W107.64B. Net
income was offset by Epoxy segment income decrease of 17% to W35.03B, Polyol
segment income decrease of less than 1% to W2.88B. Dividend per share decreased
from W900.00 to W800.00.
Industry
Industry Chemicals - Plastics and Rubber
ANZSIC 2006: 1821 - Synthetic
Resin and Synthetic Rubber Manufacturing
NACE 2002: 2416 - Manufacture
of plastics in primary forms
NAICS 2002: 325211 - Plastics
Material and Resin Manufacturing
UK SIC 2003: 2416 - Manufacture
of plastics in primary forms
UK SIC 2007: 2016 - Manufacture
of plastics in primary forms
US SIC 1987: 2821 - Plastics
Materials, Synthetic Resins, and Nonvulcanizable Elastomers
Key Executives
Name Title
Sam Yeol Lee Chairman
of the Board, Co-Chief Executive Officer
Jeong Yong Nah Internal
Auditor Reuters
Yeon Jin Huh Head of
International Business, Director
Park Chong Soo CEO
Yoon Shik Choi Co-Auditor
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Business Deals |
1 |
Kukdo Chemical Co., Ltd. Appoints New Co-CEO |
27-Dec-2011 |
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Equity Investments |
2 |
Kukdo Chemical CO., Ltd. Announces Changes of
Largest Shareholder |
17-Aug-2012 |
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Dividends |
1 |
Kukdo Chemical Co., Ltd. Declares Annual Cash
Dividend for FY 2011 |
30-Jan-2012 |
* number of significant developments within the last 12 months
Financial Summary
As of 31-Dec-2011
Key Ratios Company Industry
Sales 5 Year Growth 20.30 1.42
Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152
Corporate Overview
Location
345-35, Gasan-Dong, Geumcheon-Gu
Seoul, 153802
Korea, Republic of
Tel: 82-2-32821400
Fax: 82-2-32821486
Web: www.kukdo.com
Quote Symbol - Exchange
007690 - Korea
Stock Exchange
Sales KRW(mil): 874,826.3
Assets KRW(mil): 567,444.6
Employees: 319
Fiscal Year End: 31-Dec-2011
Industry: Chemicals
- Plastics and Rubber
Incorporation Date: 22-Feb-1972
Company Type: Public
Parent
Quoted Status: Quoted
Chairman of the
Board, Co-Chief Executive Officer:
Sam Yeol Lee
Company Web Links
Corporate History/Profile
Financial Information
Home Page
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1821 - Synthetic Resin and Synthetic Rubber Manufacturing
1829 - Other Basic Polymer Manufacturing
1915 - Adhesive Manufacturing
NACE 2002 Codes:
2416 - Manufacture of plastics in primary forms
2462 - Manufacture of glues and gelatine
2470 - Manufacture of man-made fibres
NAICS 2002 Codes:
325211 - Plastics Material and Resin Manufacturing
325520 - Adhesive Manufacturing
325222 - Noncellulosic Organic Fiber Manufacturing
US SIC 1987:
2821 - Plastics Materials, Synthetic Resins, and Nonvulcanizable
Elastomers
2891 - Adhesives and Sealants
2824 - Manmade Organic Fibers, Except Cellulosic
UK SIC 2003:
2416 - Manufacture of plastics in primary forms
2470 - Manufacture of man-made fibres
2462 - Manufacture of glues and gelatine
UK SIC 2007:
2016 - Manufacture of plastics in primary forms
2060 - Manufacture of man-made fibres
2052 - Manufacture of glues
Business Description
KUKDO CHEMICAL Co., Ltd. is a Korea-based company engaged in the manufacture and sale of epoxy and polyamide resins. The Company operates in two segments: epoxy segment and polyol segment. The epoxy segment specializes in the development of epoxy resin products including bisphenol-A epoxy resin, bisphenol-F type epoxy resin, brominated epoxy resin, non-halogen flame retardant epoxy and others used in paints, electrical and electronic parts, aerospace and information technology. The polyol segment offers coating polyols, adhesive polyols, sealant polyols, elastomer polyols, flexible polyols, rigid polyols and others used as building insulation materials, automobile interior materials, waterproofs, adhesives and so on. For the fiscal year ended 31 December 2011, Kukdo Chemical Co Ltd revenues increased 9% to W874.83B. Net income decreased 23% to W24.32B. Revenues reflect Epoxy segment increase of 6% to W821.17B, Polyol segment increase of 14% to W107.64B. Net income was offset by Epoxy segment income decrease of 17% to W35.03B, Polyol segment income decrease of less than 1% to W2.88B. Dividend per share decreased from W900.00 to W800.00.
More Business
Descriptions
Manufacture and sale of epoxy resin, polyamide resin, sodium chloride
and polyurethane/urea
Resins Mfr
Kukdo Chemical Co.
Ltd. (Kukdo) is a chemical manufacturing company, based in South Korea. Kukdo
manufactures and sells epoxy resins, hardeners, polyester, polyurea,
polyurethane, paper strength resins and sodium chlorite. These products are
used in coatings, architecture, civil, paints, electrical and electronic
products, adhesives, and engineering industries and are distributed through
domestic and international markets. The manufactured resins are used in various
industries which include electrics, aerospace and civil engineering works. The
epoxy resin, hardener resin, polyol, paper strength and polyurethane are the
resins offered by the company. The company caters its chemical products to
Japan, China, North and South America, Southeast Asia, Middle East and
Europe.The standard liquid type, standard solid type, powder coating and
solution of solvent epoxy resins are the products offered under epoxy resin
product category. The polyamide and amidoamine type hardeners include polyamide
adduct type, aliphatic amine modified type, cycloaliphatic amine modified type,
aromatic amine modified type, waterborne curing agent and amine and anhydride
hardeners are the products offerings under the hardener resin product category.
The polyether polyol offered by the company for rigid, semi-rigid and flexible
foams, adhesives, elastomers, sealants and coatings are served under the polyol
product category. The polyurea products comprise of high modulus polyurea, pure
polyurea, high elongation pure polyurea, slow curing pure polyurea, hybrid
polyurea and repair materials offered by the company under polyurethane product
category. Kukdo conducts its research and development activities through Kukdo
R&D institute. The Kukdo R&D institute consists of two labs namely, the
Epoxy resin side (Lab 1) and the hardener side (Lab 2). The Epoxy resin side
includes general BPA based epoxy, powder coating epoxy, electronic epoxy, and
special epoxy resins for special application such as electronics, flame
retardant, encapsulation. The company’s second lab hardener side carries in
researching of various hardeners; waterborne epoxy, processing resins and paper
strengthen resin. The new business includes the production of polyester resin
for powder coating and polyurethane/polyurea. The PU division uses the imported
advanced technologies related to polyester resin to serve the domestic industry
and for new product innovation. The products offered through this division are
Polyether Polyol for case – used in coating, Adhesive, Sealant, Elastomer
polyether polyol; flexible Polyether Polyol – used in seat for automobiles,
slabstock, sound-absorbing materials, flexible polyether polyol; Rigid
Polyether polyol – sorbitol, sucrose, aromatic amine, aliphatic amine, TEOA,
Glycerine base polyether ployol; Polyurethane/ Urea resin – used in Primer, Top-Coat,
Water-proof, Flooring, Adhesive, Polyurea water-proof / Anticorrosive which are
available in flexible, rigid, high-rigid, slow type; other products include
Flexible system, which find its application in Spray, LNG tank insulation,
Sandwich panel, UBR Double lagging pipe, refrigerator, Synthetic wood; Rigid
system are used in Furniture and automotive seat form, sound-absorbing
materials for automobile; and Semi-rigid system are used as Armrest for
furniture, automotive handle, table framework.The company operates its business
through various offices located in Seoul, Busan and Iksan cities in South
Korea. The company also operates through Seoul plant, Iksan, Basan and Siwha
Factory.
Kukdo Chemical Co.
Ltd. (Kukdo) is a chemical company, based in Korea. The company operates
through the manufacturing and distribution sectors of resins. Its products
include a wide range of resins which comprises of epoxy, hardeners, polyether
polyols system and polyurethane resins and supplies caustic soda, sodium
chlorite, strengthening agents and raw materials of synthetic resins. The
company offers coatings for ships, cars and containers, specialty floor
coatings, water proffers, sealants and others. Its products are used in
electrics, aerospace and civil engineering works and other industries and
exported to Japan, China, North and South America, Southeast Asia, Middle East
and Europe. Kudko is headquartered in Seoul, Republic of Korea.The company
reported revenues of (Won) KRW 874,826.28 million during the fiscal year ended
December 2011, an increase of 9.39% over 2010. The operating profit of the
company was KRW 37,915.83 million during the fiscal year 2011, a decrease of
15.26% from 2010. The net profit of the company was KRW 24,319.98 million
during the fiscal year 2011, a decrease of 22.91% from 2010.
Resin and
Synthetic Rubber Manufacturing
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Strategic Initiatives
Key Organizational
Changes
Since established
in 1972 Company chemical co ltd has grown to become one of the world's largest
producers of epoxy resin and curing agents as well as being major local
producers of thermosetting resin, inorganic chemicals, polyols and polyureas. With
for manufacturing plants in Korea and one in Kunshan, china giving a combined
tonnage of over 345,000 ton/year Company are seen as a true strategic partner
to many of the emerging epdxy applications. Our recent acquisition of Hajin
Chem tech co ltd allows us to further expand our range of reactive diluents,
hardeners and catalysts throughout our customer base. Company is heavily
committed to technical development and work closely with customers to develop
solution to overcome difficulties presented by the ever changing demands of
regulation. This work is carried out by our extensive R&D center in Seoul
which is equipped with a comprehensive array of technical instruments and
staffed by experienced technicians many of whom are leaders in their particular
field.
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Corporate Family |
Corporate Structure News: |
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Kukdo Chemical Co Ltd |
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Kukdo Chemical Co
Ltd |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Kukdo Chemical Co Ltd |
Parent |
Seoul |
Korea, Republic of |
Chemicals - Plastics and Rubber |
789.6 |
319 |
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Kuk Do Fine Chemical Co., Ltd. |
Subsidiary |
Shiheung, Kyonggi-Do |
Korea, Republic of |
Apparel and Accessories |
8.3 |
105 |
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Kukdo Chemical Co., Ltd. - Siwha
Factory |
Facility |
Siheung, Gyeonggi |
Korea, Republic of |
Chemicals - Plastics and Rubber |
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Competitors Report
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Company Name |
Location |
Employees |
Ownership |
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Hanwha Chemical Corp |
Seoul, Korea, Republic of |
2,402 |
Public |
Executive report
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Board
of Directors |
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Chairman of the Board, Co-Chief Executive Officer |
Chairman |
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Vice Chairman |
Vice-Chairman |
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Vice Chairman of the Board |
Vice-Chairman |
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Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Assistant Managing Director |
Director/Board Member |
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Head of International Business, Director |
Director/Board Member |
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President, Co-Chief Executive Officer, Director |
Director/Board Member |
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Assistant Managing 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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Head of Business, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Executives |
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Chairman of the Board, Co-Chief Executive Officer |
Chief Executive Officer |
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President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
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CEO |
Chief Executive Officer |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Co-Auditor |
Finance Executive |
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Internal Auditor |
Accounting Executive |
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Manager-Sales-North America, South America &
Japan |
Sales Executive |
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Manager-Sales-Oceania & Asia |
Sales Executive |
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Head of International Business, Director |
International Executive |
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Director-Marketing-International-Europe, Middle
East & Africa |
International Executive |
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Director-Research & Development |
Research & Development Executive |
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Manager-Planning |
Planning Executive |
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Manager-Purchasing |
Purchasing Executive |
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Manager-Privacy Policy |
Other |
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Significant Developments
Kukdo Chemical CO., Ltd. Announces Changes of Largest Shareholder Aug 17, 2012
Kukdo Chemical CO., Ltd. announced that Nippon Steel Chemical Co.,Ltd has sold its entire 1,300,486 shares of the Company, equivalent to a 22.38% stake. The Company also announced NEW SOUEL CHEMICAL Co., Ltd. and three individuals have acquired 1,317,681 shares of the Company, representing a 22.68% stake. After the transaction, NEW SOUEL CHEMICAL Co., Ltd. and three individuals became the largest shareholder of the Company, replacing Nippon Steel Chemical Co.,Ltd.
Kukdo Chemical Co., Ltd. Announces Changes in Shareholding Structure Jun 22, 2012
Kukdo Chemical Co., Ltd. announced that Yurie asset Management Inc. has acquired 305,028 shares of the Company, representing a 5.25% stake.
Kukdo Chemical Co., Ltd. Declares Annual Cash Dividend for FY 2011 Jan 30, 2012
Kukdo Chemical Co., Ltd. announced that it has declared an annual cash dividend of KRW 800 per share of common stock to shareholders of record on December 31, 20101 for the fiscal year 2011. The dividend rate of market price is 1.7% and the total amount of the cash dividend is KRW 4,648,492,800. The Company's annual cash dividend for the fiscal year 2010 was KRW 900 per share.
Kukdo Chemical Co., Ltd. Appoints New Co-CEO Dec 27, 2011
Kukdo Chemical Co., Ltd. announced that it has appointed Lee Si Chang as its new Co-Chief Executive Officer, replacing Park Jong Su, effective January 2, 2012. Its current Co-Chief Executive Officer, Lee Sam Yeol continue serving as Co-Chief Executive Officer in the Company.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
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Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
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Auditor |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan Accounting
Corporation |
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Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
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Net Sales |
789.6 |
691.7 |
391.1 |
463.3 |
443.8 |
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Revenue |
789.6 |
691.7 |
391.1 |
463.3 |
443.8 |
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Total Revenue |
789.6 |
691.7 |
391.1 |
463.3 |
443.8 |
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Cost of Revenue |
721.3 |
615.9 |
348.0 |
413.7 |
394.8 |
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Cost of Revenue, Total |
721.3 |
615.9 |
348.0 |
413.7 |
394.8 |
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Gross Profit |
68.4 |
75.8 |
43.1 |
49.6 |
49.0 |
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Selling/General/Administrative Expense |
23.7 |
26.4 |
17.6 |
19.8 |
18.8 |
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Labor & Related Expense |
9.0 |
8.0 |
5.7 |
6.5 |
6.4 |
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Advertising Expense |
0.3 |
0.1 |
0.1 |
0.2 |
0.1 |
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Total Selling/General/Administrative Expenses |
33.0 |
34.5 |
23.4 |
26.4 |
25.3 |
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Research & Development |
0.7 |
0.8 |
0.2 |
0.2 |
0.3 |
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Depreciation |
0.4 |
0.4 |
0.4 |
0.5 |
0.6 |
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Amortization of Intangibles |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
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Depreciation/Amortization |
0.6 |
0.5 |
0.4 |
0.5 |
0.6 |
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Impairment-Assets Held for Use |
0.8 |
- |
- |
- |
- |
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Loss (Gain) on Sale of Assets - Operating |
0.0 |
1.8 |
- |
- |
- |
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Unusual Expense (Income) |
0.8 |
1.8 |
- |
- |
- |
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Other Operating Expense |
2.0 |
0.2 |
- |
- |
- |
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Other, Net |
-2.9 |
-0.7 |
- |
- |
- |
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Other Operating Expenses, Total |
-0.9 |
-0.5 |
- |
- |
- |
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Total Operating Expense |
755.4 |
653.0 |
372.0 |
440.8 |
421.0 |
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Operating Income |
34.2 |
38.7 |
19.0 |
22.5 |
22.7 |
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Interest Expense -
Non-Operating |
-5.0 |
-4.6 |
-3.1 |
-4.7 |
-4.1 |
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Interest Expense, Net Non-Operating |
-5.0 |
-4.6 |
-3.1 |
-4.7 |
-4.1 |
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Interest Income -
Non-Operating |
2.2 |
2.0 |
2.0 |
3.5 |
2.5 |
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Investment Income -
Non-Operating |
0.2 |
1.1 |
5.3 |
2.3 |
0.8 |
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Interest/Investment Income - Non-Operating |
2.4 |
3.1 |
7.3 |
5.8 |
3.3 |
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Interest Income (Expense) - Net Non-Operating |
0.0 |
- |
- |
- |
- |
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Interest Income (Expense) - Net Non-Operating Total |
-2.6 |
-1.5 |
4.1 |
1.1 |
-0.9 |
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Gain (Loss) on Sale of Assets |
-0.1 |
- |
-0.9 |
12.5 |
-3.0 |
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Other Non-Operating Income (Expense) |
-0.1 |
-0.2 |
1.6 |
1.0 |
0.7 |
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Other, Net |
-0.1 |
-0.2 |
1.6 |
1.0 |
0.7 |
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Income Before Tax |
31.4 |
37.1 |
23.8 |
37.1 |
19.6 |
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Total Income Tax |
8.9 |
9.2 |
6.0 |
10.3 |
5.0 |
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Income After Tax |
22.5 |
27.8 |
17.9 |
26.7 |
14.6 |
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Minority Interest |
-0.5 |
-0.5 |
-0.1 |
-0.2 |
-0.3 |
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Net Income Before Extraord Items |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
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Net Income |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
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Income Available to Common Excl Extraord Items |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
Basic EPS Excl Extraord Items |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
Basic/Primary EPS Incl Extraord Items |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
Dilution Adjustment |
0.0 |
0.0 |
- |
- |
- |
|
Diluted Net Income |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
Diluted Weighted Average Shares |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
Diluted EPS Excl Extraord Items |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
Diluted EPS Incl Extraord Items |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
Dividends per Share - Common Stock Primary Issue |
0.72 |
0.78 |
0.63 |
0.73 |
0.86 |
|
Gross Dividends - Common Stock |
4.2 |
4.5 |
3.6 |
4.2 |
5.0 |
|
Interest Expense, Supplemental |
5.0 |
4.6 |
3.1 |
4.7 |
4.1 |
|
Depreciation, Supplemental |
7.6 |
5.7 |
11.3 |
9.9 |
8.1 |
|
Total Special Items |
0.9 |
1.8 |
0.9 |
-12.5 |
3.0 |
|
Normalized Income Before Tax |
32.3 |
38.8 |
24.8 |
24.6 |
22.6 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.2 |
0.4 |
0.2 |
-3.5 |
0.8 |
|
Inc Tax Ex Impact of Sp Items |
9.2 |
9.7 |
6.2 |
6.9 |
5.8 |
|
Normalized Income After Tax |
23.1 |
29.2 |
18.6 |
17.7 |
16.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
22.6 |
28.6 |
18.5 |
17.6 |
16.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.89 |
4.92 |
3.18 |
3.02 |
2.86 |
|
Diluted Normalized EPS |
3.89 |
4.92 |
3.18 |
3.02 |
2.86 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Rental Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Advertising Expense, Supplemental |
0.3 |
0.1 |
0.1 |
0.2 |
0.1 |
|
Research & Development Exp, Supplemental |
0.7 |
0.8 |
0.3 |
0.2 |
0.3 |
|
Normalized EBIT |
35.0 |
40.5 |
19.0 |
22.5 |
22.7 |
|
Normalized EBITDA |
42.8 |
46.3 |
30.3 |
32.4 |
30.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan Accounting
Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
22.0 |
43.5 |
60.8 |
23.8 |
32.3 |
|
Short Term Investments |
48.5 |
12.6 |
14.4 |
33.5 |
21.1 |
|
Cash and Short Term Investments |
70.4 |
56.0 |
75.2 |
57.3 |
53.4 |
|
Accounts Receivable -
Trade, Gross |
164.6 |
211.9 |
98.5 |
96.1 |
113.4 |
|
Provision for Doubtful
Accounts |
-1.6 |
-2.8 |
-2.3 |
-3.6 |
-2.5 |
|
Trade Accounts Receivable - Net |
163.5 |
209.5 |
96.4 |
93.4 |
112.7 |
|
Other Receivables |
2.5 |
1.8 |
1.2 |
2.0 |
0.7 |
|
Total Receivables, Net |
165.9 |
211.2 |
97.6 |
95.3 |
113.4 |
|
Inventories - Finished Goods |
36.2 |
35.2 |
27.5 |
30.5 |
38.8 |
|
Inventories - Work In Progress |
3.3 |
5.2 |
4.7 |
1.9 |
2.2 |
|
Inventories - Raw Materials |
29.5 |
29.0 |
18.8 |
17.0 |
24.4 |
|
Inventories - Other |
0.6 |
8.9 |
0.2 |
0.1 |
1.6 |
|
Total Inventory |
69.6 |
78.4 |
51.1 |
49.5 |
67.1 |
|
Prepaid Expenses |
0.7 |
1.6 |
0.5 |
1.3 |
1.1 |
|
Deferred Income Tax - Current Asset |
- |
- |
0.2 |
0.2 |
- |
|
Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Current Assets, Total |
0.0 |
0.0 |
0.2 |
0.2 |
- |
|
Total Current Assets |
306.6 |
347.3 |
224.6 |
203.7 |
234.9 |
|
|
|
|
|
|
|
|
Buildings |
- |
- |
47.6 |
40.2 |
38.2 |
|
Land/Improvements |
- |
- |
23.5 |
16.1 |
30.7 |
|
Machinery/Equipment |
- |
- |
87.5 |
80.4 |
75.2 |
|
Construction in
Progress |
- |
- |
1.5 |
0.3 |
2.3 |
|
Other
Property/Plant/Equipment |
- |
- |
3.9 |
6.3 |
7.0 |
|
Property/Plant/Equipment - Gross |
- |
- |
164.0 |
143.4 |
153.4 |
|
Accumulated Depreciation |
- |
- |
-75.0 |
-59.0 |
-65.2 |
|
Property/Plant/Equipment - Net |
177.7 |
147.9 |
88.9 |
84.4 |
88.2 |
|
Intangibles, Net |
3.0 |
3.1 |
0.7 |
0.7 |
0.7 |
|
LT Investment - Affiliate Companies |
3.0 |
4.0 |
8.8 |
4.2 |
1.2 |
|
LT Investments - Other |
1.0 |
1.2 |
2.1 |
2.9 |
2.1 |
|
Long Term Investments |
4.0 |
5.1 |
10.9 |
7.1 |
3.3 |
|
Note Receivable - Long Term |
0.7 |
0.7 |
- |
- |
- |
|
Deferred Income Tax - Long Term Asset |
0.0 |
- |
- |
- |
- |
|
Other Long Term Assets |
0.6 |
0.8 |
0.6 |
0.6 |
0.8 |
|
Other Long Term Assets, Total |
0.7 |
0.8 |
0.6 |
0.6 |
0.8 |
|
Total Assets |
492.6 |
504.9 |
325.7 |
296.5 |
327.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
59.8 |
77.0 |
51.1 |
24.4 |
35.9 |
|
Accrued Expenses |
3.2 |
3.1 |
2.8 |
1.9 |
2.6 |
|
Notes Payable/Short Term Debt |
59.2 |
90.3 |
26.2 |
25.4 |
36.2 |
|
Current Portion - Long Term Debt/Capital Leases |
8.8 |
7.4 |
25.4 |
1.4 |
2.3 |
|
Customer Advances |
0.7 |
0.5 |
0.5 |
0.2 |
0.7 |
|
Income Taxes Payable |
1.5 |
3.4 |
1.3 |
7.5 |
2.2 |
|
Other Payables |
20.9 |
21.4 |
4.7 |
15.0 |
8.4 |
|
Other Current Liabilities |
0.5 |
0.7 |
0.3 |
0.4 |
0.3 |
|
Other Current liabilities, Total |
23.6 |
26.0 |
6.8 |
23.1 |
11.6 |
|
Total Current Liabilities |
154.6 |
203.7 |
112.3 |
76.2 |
88.6 |
|
|
|
|
|
|
|
|
Long Term Debt |
44.8 |
28.8 |
10.5 |
45.4 |
46.7 |
|
Total Long Term Debt |
44.8 |
28.8 |
10.5 |
45.4 |
46.7 |
|
Total Debt |
112.8 |
126.4 |
62.1 |
72.1 |
85.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
19.3 |
15.6 |
4.5 |
3.2 |
1.7 |
|
Deferred Income Tax |
19.3 |
15.6 |
4.5 |
3.2 |
1.7 |
|
Minority Interest |
7.2 |
5.6 |
4.4 |
4.3 |
3.8 |
|
Pension Benefits - Underfunded |
- |
- |
- |
0.1 |
- |
|
Other Long Term Liabilities |
- |
- |
- |
0.0 |
0.0 |
|
Other Liabilities, Total |
- |
- |
- |
0.1 |
0.0 |
|
Total Liabilities |
225.9 |
253.6 |
131.6 |
129.0 |
140.8 |
|
|
|
|
|
|
|
|
Common Stock |
25.2 |
25.6 |
24.9 |
23.1 |
31.0 |
|
Common Stock |
25.2 |
25.6 |
24.9 |
23.1 |
31.0 |
|
Additional Paid-In Capital |
40.1 |
40.7 |
39.7 |
36.7 |
49.4 |
|
Retained Earnings (Accumulated Deficit) |
198.4 |
184.6 |
121.9 |
98.4 |
106.2 |
|
Unrealized Gain (Loss) |
- |
- |
0.5 |
0.6 |
0.8 |
|
Translation Adjustment |
2.9 |
0.4 |
7.0 |
8.7 |
-0.4 |
|
Other Equity, Total |
2.9 |
0.4 |
7.0 |
8.7 |
-0.4 |
|
Total Equity |
266.7 |
251.4 |
194.1 |
167.5 |
187.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
492.6 |
504.9 |
325.7 |
296.5 |
327.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
Total Common Shares Outstanding |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
319 |
299 |
270 |
264 |
231 |
|
Number of Common Shareholders |
- |
- |
- |
3,335 |
3,598 |
|
Accumulated Intangible Amort, Suppl. |
0.2 |
0.2 |
- |
- |
- |
|
Deferred Revenue - Current |
0.7 |
0.5 |
0.5 |
0.2 |
0.7 |
|
Total Long Term Debt, Supplemental |
53.6 |
- |
23.0 |
34.9 |
33.1 |
|
Long Term Debt Maturing within 1 Year |
8.8 |
- |
12.5 |
1.4 |
2.3 |
|
Long Term Debt Maturing in Year 2 |
11.4 |
- |
- |
- |
- |
|
Long Term Debt Maturing in Year 3 |
18.9 |
- |
- |
- |
- |
|
Long Term Debt Maturing in Year 4 |
4.4 |
- |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
30.3 |
- |
- |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
4.4 |
- |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
10.2 |
- |
10.5 |
33.5 |
30.8 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan Accounting
Corporation |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
22.5 |
27.8 |
17.9 |
26.7 |
14.6 |
|
Depreciation |
7.6 |
5.7 |
11.3 |
9.9 |
8.1 |
|
Depreciation/Depletion |
7.6 |
5.7 |
11.3 |
9.9 |
8.1 |
|
Amortization of Intangibles |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Amortization |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Deferred Taxes |
- |
- |
1.5 |
-0.9 |
0.4 |
|
Unusual Items |
0.8 |
1.7 |
-0.1 |
-13.9 |
1.3 |
|
Equity in Net Earnings (Loss) |
-0.1 |
0.3 |
-3.8 |
-0.1 |
0.0 |
|
Other Non-Cash Items |
12.6 |
14.1 |
0.6 |
1.9 |
0.0 |
|
Non-Cash Items |
13.4 |
16.1 |
-3.4 |
-12.1 |
1.3 |
|
Accounts Receivable |
58.7 |
-52.9 |
6.8 |
17.4 |
-4.8 |
|
Inventories |
8.7 |
-24.3 |
2.0 |
5.7 |
-6.5 |
|
Prepaid Expenses |
1.0 |
-1.1 |
0.7 |
-0.2 |
1.0 |
|
Accounts Payable |
-31.4 |
16.7 |
9.6 |
-33.0 |
-19.5 |
|
Accrued Expenses |
0.0 |
0.4 |
0.7 |
-0.2 |
0.4 |
|
Taxes Payable |
- |
- |
-6.2 |
6.6 |
-1.2 |
|
Other Liabilities |
-1.2 |
-1.2 |
-0.7 |
-0.4 |
-0.2 |
|
Other Operating Cash Flow |
-10.4 |
-7.7 |
- |
- |
- |
|
Changes in Working Capital |
25.4 |
-70.1 |
12.9 |
-4.1 |
-30.6 |
|
Cash from Operating Activities |
69.0 |
-20.4 |
40.2 |
19.4 |
-6.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-37.9 |
-8.7 |
-11.2 |
-19.7 |
-20.0 |
|
Purchase/Acquisition of Intangibles |
- |
-0.3 |
- |
- |
- |
|
Capital Expenditures |
-37.9 |
-9.0 |
-11.2 |
-19.7 |
-20.0 |
|
Sale of Fixed Assets |
0.1 |
0.2 |
0.5 |
23.3 |
0.3 |
|
Sale/Maturity of Investment |
41.0 |
44.2 |
66.7 |
44.6 |
55.3 |
|
Purchase of Investments |
-77.3 |
-42.0 |
-46.0 |
-69.8 |
-31.1 |
|
Other Investing Cash Flow |
0.3 |
-0.1 |
- |
- |
- |
|
Other Investing Cash Flow Items, Total |
-36.0 |
2.3 |
21.2 |
-1.9 |
24.5 |
|
Cash from Investing Activities |
-73.9 |
-6.7 |
9.9 |
-21.6 |
4.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-7.5 |
-12.6 |
-2.4 |
0.0 |
-1.9 |
|
Financing Cash Flow Items |
-7.5 |
-12.6 |
-2.4 |
0.0 |
-1.9 |
|
Cash Dividends Paid - Common |
-4.9 |
-4.1 |
-3.6 |
-4.2 |
-4.8 |
|
Total Cash Dividends Paid |
-4.9 |
-4.1 |
-3.6 |
-4.2 |
-4.8 |
|
Sale/Issuance of
Common |
1.0 |
0.5 |
- |
- |
7.0 |
|
Common Stock, Net |
1.0 |
0.5 |
- |
- |
7.0 |
|
Issuance (Retirement) of Stock, Net |
1.0 |
0.5 |
- |
- |
7.0 |
|
Short Term Debt Issued |
473.3 |
71.0 |
24.4 |
136.5 |
139.1 |
|
Short Term Debt
Reduction |
-505.1 |
-58.4 |
-38.3 |
-138.9 |
-129.2 |
|
Short Term Debt, Net |
-31.8 |
12.7 |
-13.9 |
-2.5 |
9.8 |
|
Long Term Debt Issued |
25.7 |
24.8 |
1.8 |
9.7 |
34.4 |
|
Long Term Debt
Reduction |
0.0 |
-13.2 |
-0.1 |
-1.0 |
-16.1 |
|
Long Term Debt, Net |
25.6 |
11.6 |
1.7 |
8.7 |
18.3 |
|
Issuance (Retirement) of Debt, Net |
-6.2 |
24.2 |
-12.1 |
6.2 |
28.1 |
|
Cash from Financing Activities |
-17.6 |
8.0 |
-18.2 |
2.0 |
28.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.8 |
0.2 |
- |
- |
- |
|
Net Change in Cash |
-21.7 |
-18.9 |
31.9 |
-0.2 |
26.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
44.5 |
61.5 |
23.5 |
27.4 |
5.9 |
|
Net Cash - Ending Balance |
22.8 |
42.6 |
55.4 |
27.3 |
32.5 |
|
Cash Interest Paid |
4.9 |
4.4 |
- |
- |
- |
|
Cash Taxes Paid |
7.6 |
5.2 |
- |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
Shinhan
Accounting Corporation |
Shinhan Accounting
Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finish Export Sales |
- |
- |
196.5 |
248.3 |
287.1 |
|
Finished Product Domestic Sales |
- |
- |
169.0 |
152.1 |
109.6 |
|
Merchand Export Sale |
- |
- |
4.9 |
35.7 |
21.4 |
|
Merchandise Domestic Sales |
- |
- |
20.6 |
27.2 |
25.7 |
|
Sales Revenue |
789.6 |
691.7 |
- |
- |
- |
|
Total Revenue |
789.6 |
691.7 |
391.1 |
463.3 |
443.8 |
|
|
|
|
|
|
|
|
Costs of Goods and Services Sold |
721.3 |
615.9 |
- |
- |
- |
|
Cost of Finish. Good |
- |
- |
325.0 |
353.9 |
252.0 |
|
Cost-Merchandise |
- |
- |
23.0 |
59.9 |
142.8 |
|
Salaries and Wages |
6.9 |
6.1 |
4.5 |
5.1 |
5.1 |
|
Retirement & Severance Benefits |
0.4 |
0.4 |
0.3 |
0.3 |
0.3 |
|
Employee Benefits |
1.7 |
1.5 |
0.9 |
1.1 |
1.0 |
|
Utility Expenses |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Communication Expenses |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Consumable Expense |
0.2 |
0.2 |
0.1 |
0.2 |
0.1 |
|
Office Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Publication Expenses |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Travel Expenses |
0.8 |
0.6 |
0.5 |
0.6 |
0.6 |
|
Vehicle Maintenance Expenses |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Repair Expenses |
0.1 |
0.1 |
0.0 |
0.0 |
0.2 |
|
Taxes and Dues |
0.8 |
0.6 |
0.4 |
0.4 |
0.5 |
|
Commissions |
0.7 |
0.7 |
3.4 |
3.0 |
3.7 |
|
Sales Commissions |
- |
0.0 |
0.0 |
0.0 |
0.2 |
|
Entertainment |
0.4 |
0.4 |
0.3 |
0.3 |
0.3 |
|
R & D Expense |
0.7 |
0.8 |
0.2 |
0.2 |
0.3 |
|
Advertising Expense |
0.3 |
0.1 |
0.1 |
0.2 |
0.1 |
|
Depreciation |
0.4 |
0.4 |
0.4 |
0.5 |
0.6 |
|
Amortization of Intangible Assets |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Environment Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Exporting Related Expense |
3.3 |
4.1 |
- |
- |
- |
|
Education & Training |
0.1 |
0.1 |
0.1 |
0.2 |
0.1 |
|
Shipping & Handling Expense |
15.7 |
16.9 |
11.5 |
11.6 |
11.6 |
|
Insurance Expenses |
0.4 |
0.4 |
0.3 |
0.3 |
0.3 |
|
Sample Expenses |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Rental Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Expenses of Allowance for Doubtful Accou |
- |
1.3 |
- |
2.0 |
0.2 |
|
Miscellaneous Operating Expense |
- |
- |
0.1 |
0.2 |
0.3 |
|
Adjustment for Selling and Administrativ |
- |
0.0 |
- |
- |
- |
|
Rental Income |
0.0 |
0.0 |
- |
- |
- |
|
Reversal of Allowance for Doubtful Accou |
-0.4 |
- |
- |
- |
- |
|
Gain on Disposal of Property, Plant and |
0.0 |
0.0 |
- |
- |
- |
|
Miscellaneous Income |
-1.0 |
-0.7 |
- |
- |
- |
|
Insurance Income |
-1.5 |
- |
- |
- |
- |
|
Adjustment for Other Operating Income |
0.0 |
- |
- |
- |
- |
|
Donations Paid |
0.0 |
0.0 |
- |
- |
- |
|
Impairment Loss on Inventory |
0.2 |
- |
- |
- |
- |
|
Loss on Disposal of Property, Plant and |
0.0 |
1.8 |
- |
- |
- |
|
Impairment Loss on Property, Plant and E |
0.7 |
- |
- |
- |
- |
|
Miscellaneous Loss |
0.3 |
0.2 |
- |
- |
- |
|
Casualty Loss |
1.7 |
0.0 |
- |
- |
- |
|
Adjustment for Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
755.4 |
653.0 |
372.0 |
440.8 |
421.0 |
|
|
|
|
|
|
|
|
Interest Income |
2.2 |
2.0 |
2.0 |
3.5 |
2.5 |
|
Dividend Income |
- |
- |
- |
- |
0.0 |
|
Fee & Commission Received |
- |
- |
- |
0.1 |
0.1 |
|
Rental Income |
- |
- |
0.0 |
0.0 |
0.0 |
|
Gain on Foreign Currency Transactions |
4.9 |
5.3 |
4.8 |
10.2 |
2.2 |
|
Gain on Foreign Currency Translations |
0.7 |
0.1 |
0.0 |
0.8 |
0.7 |
|
Gain on Disposal of Securities Available |
- |
0.0 |
- |
- |
- |
|
Gain-Disposal of Investment Assets |
- |
- |
0.0 |
- |
- |
|
G-Tang Asset Disp. |
- |
- |
0.1 |
14.0 |
0.0 |
|
Other Non-Op Income |
- |
- |
1.6 |
1.0 |
0.9 |
|
Gain on Disposal of Investments in Affil |
- |
0.2 |
- |
- |
- |
|
Recovery-Loan Loss Reserve |
- |
- |
0.4 |
- |
- |
|
Loss on Disposal of Investment in Subsid |
- |
0.0 |
- |
- |
-0.1 |
|
Interest Expenses |
-5.0 |
-4.6 |
-3.1 |
-4.7 |
-4.1 |
|
Loss on Foreign Currency Transactions |
-4.1 |
-4.1 |
-3.3 |
-8.3 |
-1.8 |
|
Loss on Foreign Currency Translations |
-0.7 |
-0.1 |
-0.1 |
-0.4 |
-0.2 |
|
Loss on Disposal of Trade Receivable |
-0.1 |
- |
-1.0 |
-1.5 |
-1.8 |
|
L-Tang Asset Disp. |
- |
- |
0.0 |
-0.1 |
-1.2 |
|
Donations Paid |
- |
- |
0.0 |
0.0 |
0.0 |
|
Loss on Derivative Transaction |
-0.6 |
- |
- |
- |
- |
|
Gain under Equity Method |
0.1 |
0.1 |
3.8 |
0.1 |
0.0 |
|
Loss under Equity Method |
- |
-0.3 |
- |
- |
- |
|
Adjustment for Finance Income |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Finance Expense |
- |
0.0 |
- |
- |
- |
|
Other Finance Expense |
-0.1 |
-0.2 |
-0.4 |
-0.1 |
-0.3 |
|
Net Income Before Taxes |
31.4 |
37.1 |
23.8 |
37.1 |
19.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
8.9 |
9.2 |
6.0 |
10.3 |
5.0 |
|
Net Income After Taxes |
22.5 |
27.8 |
17.9 |
26.7 |
14.6 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.5 |
-0.5 |
-0.1 |
-0.2 |
-0.3 |
|
Net Income Before Extra. Items |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
Net Income |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
Basic EPS Including ExtraOrdinary Item |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
Dilution Adjustment |
0.0 |
0.0 |
- |
- |
- |
|
Diluted Net Income |
22.0 |
27.3 |
17.7 |
26.5 |
14.3 |
|
Diluted Weighted Average Shares |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
Diluted EPS Excluding ExtraOrd Items |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
Diluted EPS Including ExtraOrd Items |
3.78 |
4.70 |
3.05 |
4.57 |
2.48 |
|
DPS-Common Stock |
0.72 |
0.78 |
0.63 |
0.73 |
0.86 |
|
Gross Dividends - Common Stock |
4.2 |
4.5 |
3.6 |
4.2 |
5.0 |
|
Normalized Income Before Taxes |
32.3 |
38.8 |
24.8 |
24.6 |
22.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
9.2 |
9.7 |
6.2 |
6.9 |
5.8 |
|
Normalized Income After Taxes |
23.1 |
29.2 |
18.6 |
17.7 |
16.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
22.6 |
28.6 |
18.5 |
17.6 |
16.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.89 |
4.92 |
3.18 |
3.02 |
2.86 |
|
Diluted Normalized EPS |
3.89 |
4.92 |
3.18 |
3.02 |
2.86 |
|
R&D Expense, Supplemental |
0.7 |
0.8 |
0.3 |
0.2 |
0.3 |
|
Advertising Expense |
0.3 |
0.1 |
0.1 |
0.2 |
0.1 |
|
Interest Expense, Supplemental |
5.0 |
4.6 |
3.1 |
4.7 |
4.1 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Rental Expense, Supplemental |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Depreciation, Supplemental |
7.6 |
5.7 |
11.3 |
9.9 |
8.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
22.0 |
43.5 |
60.8 |
23.8 |
32.3 |
|
Secs held-Mature |
0.0 |
0.0 |
0.0 |
0.0 |
0.7 |
|
Current Financial Instruments |
48.4 |
12.6 |
14.4 |
33.4 |
20.4 |
|
Trade Receivables |
164.6 |
211.9 |
98.5 |
96.1 |
113.4 |
|
Allowance for Doubtful Accounts |
-1.6 |
-2.8 |
-2.3 |
-3.6 |
-2.5 |
|
Account Receivables |
2.5 |
1.8 |
1.2 |
2.0 |
0.7 |
|
Accrued Income |
0.5 |
0.3 |
0.2 |
0.8 |
1.8 |
|
Advance Payments |
0.4 |
8.7 |
0.0 |
0.0 |
1.5 |
|
Prepaid Expenses |
0.2 |
0.2 |
0.1 |
0.1 |
0.2 |
|
Prepaid Inc Tax |
- |
- |
- |
0.1 |
- |
|
Prepaid Value Added Taxes |
0.5 |
1.4 |
0.4 |
1.0 |
0.9 |
|
Receivable of Corporate Tax Refund |
0.0 |
0.0 |
- |
- |
- |
|
Deferred Tax Asset |
- |
- |
0.2 |
0.2 |
- |
|
Merchandise |
3.5 |
2.9 |
3.5 |
2.7 |
3.7 |
|
Finished Goods |
32.5 |
30.8 |
21.2 |
27.8 |
32.6 |
|
Works in Process |
3.3 |
5.2 |
4.7 |
1.9 |
2.2 |
|
Raw Materials |
29.5 |
29.0 |
18.8 |
17.0 |
24.4 |
|
Goods in Transit |
0.2 |
1.5 |
2.8 |
0.0 |
2.5 |
|
Supplies |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Adjustment for Inventories |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Trade & Other Receivables |
0.0 |
- |
- |
- |
- |
|
Adjustment for Other Investment Assets |
- |
- |
- |
- |
- |
|
Adjustment for Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Assets |
306.6 |
347.3 |
224.6 |
203.7 |
234.9 |
|
|
|
|
|
|
|
|
Non-Current Financial Instruments |
0.0 |
0.2 |
0.0 |
1.0 |
0.1 |
|
Non-Current Securities Available-for-Sal |
0.7 |
0.7 |
0.2 |
0.2 |
0.3 |
|
Secs held-Mature |
0.3 |
0.3 |
0.3 |
0.1 |
0.1 |
|
Investment in Affiliates |
3.0 |
4.0 |
8.8 |
4.2 |
1.2 |
|
Guarantee Deposits, Non-Current Assets |
0.6 |
0.8 |
0.5 |
0.5 |
0.6 |
|
LT Prepaid Expen |
- |
- |
0.0 |
0.1 |
0.2 |
|
Other LT Assets |
0.1 |
0.1 |
1.6 |
1.5 |
1.7 |
|
Non-Current Other Receivables |
0.7 |
0.7 |
- |
- |
- |
|
Land |
- |
- |
23.5 |
16.1 |
30.7 |
|
Buildings |
- |
- |
35.7 |
33.9 |
34.3 |
|
Buildings Depre. |
- |
- |
-9.6 |
-7.9 |
-8.5 |
|
Structures |
- |
- |
11.8 |
6.4 |
4.0 |
|
Structure Depre. |
- |
- |
-3.7 |
-1.3 |
-1.5 |
|
Machinery/Equip. |
- |
- |
86.6 |
79.6 |
74.3 |
|
Mach/Equip Depre |
- |
- |
-57.8 |
-44.3 |
-49.4 |
|
Govt Subsidy-Mac |
- |
- |
0.0 |
0.0 |
0.0 |
|
Transport Equip. |
- |
- |
1.0 |
0.8 |
0.9 |
|
Transport Deprec |
- |
- |
-0.6 |
-0.5 |
-0.6 |
|
Other Tangibles |
- |
- |
3.9 |
6.3 |
7.0 |
|
Deprec.-Other |
- |
- |
-3.4 |
-4.9 |
-5.2 |
|
Construc in Prog |
- |
- |
1.5 |
0.3 |
2.3 |
|
Land Use Right |
0.7 |
0.7 |
0.7 |
0.7 |
0.7 |
|
Industrial Property Rights |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Intangible Assets |
0.3 |
0.5 |
- |
- |
0.0 |
|
Membership Rights |
1.9 |
1.9 |
- |
- |
- |
|
Property, Plant & Equipment, Net |
177.7 |
147.9 |
- |
- |
- |
|
Non-Current Deferred Income Taxes Assets |
0.0 |
- |
- |
- |
- |
|
Adjustment for Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Adjustment for Non-Current Trade & Other |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Non-Current Investm |
0.0 |
0.0 |
- |
- |
- |
|
Total Assets |
492.6 |
504.9 |
325.7 |
296.5 |
327.9 |
|
|
|
|
|
|
|
|
Current Trade Payables |
59.8 |
77.0 |
51.1 |
24.4 |
35.9 |
|
Current Borrowings |
59.2 |
90.3 |
26.2 |
25.4 |
36.2 |
|
Other Payables |
20.9 |
21.4 |
4.7 |
15.0 |
8.4 |
|
Advance from Customers, Current Liabilit |
0.7 |
0.5 |
0.5 |
0.2 |
0.7 |
|
Withholdings |
0.3 |
0.4 |
0.3 |
0.4 |
0.2 |
|
Accrued Expenses |
3.2 |
3.1 |
2.6 |
1.7 |
2.4 |
|
Inc. Taxes Pay. |
1.5 |
3.4 |
1.3 |
7.5 |
2.2 |
|
VAT Withheld |
- |
- |
0.2 |
0.2 |
0.2 |
|
Current Portion of Long-term Borrowings |
8.8 |
7.4 |
12.5 |
1.4 |
2.3 |
|
Cur Port of Bond |
- |
- |
12.9 |
- |
- |
|
Deferred Income Tax Credits |
- |
- |
- |
- |
0.1 |
|
Other in Other Current Liabilities |
0.1 |
0.3 |
- |
- |
- |
|
Adjustment for Current Trade & Other Pay |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Liabilities |
- |
- |
- |
- |
- |
|
Total Current Liabilities |
154.6 |
203.7 |
112.3 |
76.2 |
88.6 |
|
|
|
|
|
|
|
|
Bonds |
13.0 |
13.2 |
- |
11.9 |
15.9 |
|
Non-Current Borrowings |
31.8 |
15.6 |
10.5 |
33.5 |
30.8 |
|
Total Long Term Debt |
44.8 |
28.8 |
10.5 |
45.4 |
46.7 |
|
|
|
|
|
|
|
|
Retire Reserve |
- |
- |
- |
0.1 |
- |
|
Deferred Income Taxes, Non-Current Liabi |
19.3 |
15.6 |
4.5 |
3.2 |
1.7 |
|
Lease Deposit |
- |
- |
- |
0.0 |
0.0 |
|
Minority Interest |
7.2 |
5.6 |
4.4 |
4.3 |
3.8 |
|
Total Liabilities |
225.9 |
253.6 |
131.6 |
129.0 |
140.8 |
|
|
|
|
|
|
|
|
Common Stock |
25.2 |
25.6 |
24.9 |
23.1 |
31.0 |
|
Other Capital Surplus |
0.6 |
0.6 |
0.6 |
0.5 |
0.7 |
|
Additional Paid in Capital |
32.5 |
33.0 |
32.2 |
29.7 |
40.0 |
|
Gains on Disposal of Treasury Stock |
7.0 |
7.1 |
7.0 |
6.4 |
8.7 |
|
Reserve for Assets Revaluation |
- |
- |
16.2 |
14.9 |
20.1 |
|
Reserve-Research & Development |
2.1 |
1.6 |
1.5 |
2.1 |
4.0 |
|
Reserve-Loss on Treasury Stock Disposal |
- |
- |
- |
1.2 |
1.6 |
|
Legal Reserve |
6.6 |
6.2 |
6.4 |
5.4 |
6.4 |
|
Reserve-Business Rationalization |
2.5 |
2.5 |
2.5 |
2.3 |
3.1 |
|
Reserve-Financial Restructuring |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Retained Earning Carried Forward |
- |
- |
95.3 |
72.4 |
71.0 |
|
Capital Change, Equity Method |
- |
- |
0.5 |
0.6 |
0.8 |
|
Overseas Business Translation Credit |
2.9 |
0.4 |
7.0 |
8.7 |
-0.4 |
|
Appropriated Retained Earnings.Adji |
0.0 |
0.0 |
- |
- |
- |
|
Retained Earnings or Accumulated Deficit |
187.2 |
174.2 |
- |
- |
- |
|
Adjustment for Capital Surplus |
0.0 |
0.0 |
- |
- |
- |
|
Total Equity |
266.7 |
251.4 |
194.1 |
167.5 |
187.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
492.6 |
504.9 |
325.7 |
296.5 |
327.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
Total Common Shares Outstanding |
5.8 |
5.8 |
5.8 |
5.8 |
5.8 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
0.7 |
0.5 |
0.5 |
0.2 |
0.7 |
|
Accumulated Intangible Amort, Suppl. |
0.2 |
0.2 |
- |
- |
- |
|
Full-Time Employees |
319 |
299 |
270 |
264 |
231 |
|
Number of Common Shareholders |
- |
- |
- |
3,335 |
3,598 |
|
Long Term Debt Maturing within 1 Year |
8.8 |
- |
12.5 |
1.4 |
2.3 |
|
Long Term Debt Maturing in Year 2 |
11.4 |
- |
- |
- |
- |
|
Long Term Debt Maturing in Year 3 |
18.9 |
- |
- |
- |
- |
|
Long Term Debt Maturing in Year 4 |
4.4 |
- |
- |
- |
- |
|
Long Term Debt - Remaining Maturities |
10.2 |
- |
10.5 |
33.5 |
30.8 |
|
Total Long Term Debt, Supplemental |
53.6 |
- |
23.0 |
34.9 |
33.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period
Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
Shinhan
Accounting Corporation |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
22.5 |
27.8 |
17.9 |
26.7 |
14.6 |
|
Depreciation |
7.6 |
5.7 |
11.3 |
9.9 |
8.1 |
|
Payment for Retirement Allowance, ONCI |
1.2 |
1.1 |
0.9 |
0.3 |
0.3 |
|
Amortization of Intangible Assets |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Expense of Allowance for Doubtful Accoun |
- |
1.3 |
- |
2.0 |
0.2 |
|
Loss on Disposal of Investment in Subsid |
- |
0.0 |
- |
- |
0.1 |
|
Losses on Foreign Currency Translation |
0.7 |
0.1 |
0.1 |
0.3 |
0.2 |
|
Interest Expenses |
5.0 |
4.6 |
- |
- |
- |
|
Loss under Equity Method |
- |
0.3 |
- |
- |
- |
|
L-Tang Asset Disp. |
0.0 |
1.8 |
0.0 |
0.1 |
1.2 |
|
Impairment Loss on Property, Plant and E |
0.7 |
- |
- |
- |
- |
|
Amort-Bond Discount |
- |
- |
0.0 |
0.0 |
0.0 |
|
Corporate Taxes Expense |
8.9 |
9.2 |
- |
- |
- |
|
Recovery of Allowance for Doubtful Accou |
-0.4 |
- |
-0.4 |
- |
- |
|
Loss on Reduction of Inventory |
0.2 |
- |
- |
- |
- |
|
Interest Income |
-2.2 |
-2.0 |
- |
- |
- |
|
Gains on Foreign Currency Translation |
-0.7 |
-0.1 |
0.0 |
-0.8 |
-0.7 |
|
G-Equity Method VAluation |
-0.1 |
-0.1 |
-3.8 |
-0.1 |
0.0 |
|
Gain-Disposal of Investment Assets |
- |
- |
0.0 |
- |
- |
|
Gain on Disposal of Property, Plant and |
0.0 |
0.0 |
-0.1 |
-14.0 |
0.0 |
|
Gain on Disposal of Investment in Affili |
- |
-0.2 |
- |
- |
- |
|
Trade Receivables |
58.8 |
-53.0 |
5.3 |
18.3 |
-4.7 |
|
Account Receivables |
-0.1 |
0.1 |
0.9 |
-1.6 |
0.3 |
|
Accrued Income |
- |
- |
0.6 |
0.6 |
-0.4 |
|
Advance Payments |
8.4 |
-8.4 |
0.4 |
1.3 |
0.4 |
|
Prepaid Expenses |
0.1 |
-0.1 |
0.0 |
0.0 |
0.1 |
|
Ppd Val. Added Taxes |
0.9 |
-1.0 |
0.6 |
-0.4 |
0.9 |
|
Prepaid Taxes |
- |
0.0 |
- |
- |
- |
|
LT Prepaid Expenses |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Inventories |
0.3 |
-15.8 |
1.6 |
4.4 |
-6.9 |
|
Deferred Tax Aset |
- |
- |
0.0 |
-0.3 |
0.3 |
|
Trade Payables |
-25.6 |
16.2 |
21.3 |
-29.9 |
-19.0 |
|
Other Payables |
-5.8 |
0.5 |
-11.7 |
-3.1 |
-0.4 |
|
Advances Received |
0.2 |
-0.1 |
0.3 |
-0.3 |
0.2 |
|
Withholdings |
-0.2 |
0.2 |
-0.1 |
0.2 |
-0.1 |
|
Accrued Expenses |
0.0 |
0.4 |
0.7 |
-0.2 |
0.4 |
|
Accrued Income Tax |
- |
- |
-6.1 |
7.0 |
-1.1 |
|
VAT Withheld |
- |
- |
0.0 |
-0.4 |
0.0 |
|
Payment for Retirement Allowance |
-1.2 |
-1.3 |
-1.0 |
-0.2 |
-0.3 |
|
Deferred Taxes-Liab. |
- |
- |
1.5 |
-0.6 |
0.1 |
|
Cash-Interest Received |
2.0 |
1.9 |
- |
- |
- |
|
Cash-Interest Paid |
-4.9 |
-4.4 |
- |
- |
- |
|
Cash-Tax Refunded |
-7.6 |
-5.2 |
- |
- |
- |
|
Adjustment |
- |
- |
- |
- |
- |
|
Cash from Operating Activities |
69.0 |
-20.4 |
40.2 |
19.4 |
-6.3 |
|
|
|
|
|
|
|
|
Disposal of Current Financial Instrument |
39.9 |
44.2 |
65.6 |
44.1 |
55.0 |
|
Disposal of Non-Current Financial Instru |
0.2 |
- |
1.0 |
- |
- |
|
Disposal of Investment in Affiliates |
1.0 |
- |
- |
- |
0.3 |
|
Dec-Secs held-Mature |
0.0 |
0.0 |
0.0 |
0.6 |
0.0 |
|
Decrease in Guarantee Deposit |
0.3 |
0.1 |
- |
- |
- |
|
Disposal-Land |
- |
- |
0.2 |
23.2 |
- |
|
Disposal-Buildings |
- |
0.1 |
0.0 |
- |
- |
|
Disposal of Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Disposal of Machinery |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Disposal-Other Fixed Assets |
- |
- |
0.2 |
0.0 |
0.2 |
|
Acq-Gov't Subsidy |
- |
- |
0.0 |
- |
- |
|
Disposal Other Tang. |
- |
0.0 |
- |
- |
- |
|
Decrease-LT Account Receivable |
0.1 |
0.0 |
- |
- |
- |
|
Inc-ST Finl Assets |
-77.3 |
-41.9 |
-45.8 |
-65.0 |
-29.8 |
|
Purchase of Non-Current Financial Instru |
- |
-0.1 |
0.0 |
-1.1 |
-1.1 |
|
Increase-Securities under Equity Method |
- |
- |
- |
-3.7 |
-0.1 |
|
Inc-Secs held Mature |
- |
0.0 |
-0.2 |
0.0 |
0.0 |
|
Increase in Guarantee Deposit |
-0.1 |
-0.3 |
- |
- |
- |
|
Purchase of Land |
-0.1 |
- |
-5.6 |
-1.7 |
- |
|
Acquis. of Building |
-0.6 |
-1.7 |
-1.7 |
-1.2 |
-4.4 |
|
Purchase of Machinery |
-3.9 |
-1.8 |
-2.0 |
-1.5 |
-6.8 |
|
Purchase of Vehicles |
-0.3 |
-0.1 |
-0.2 |
-0.2 |
-0.2 |
|
Purchase of Other Tangible Assets |
-0.4 |
-0.4 |
-0.1 |
-0.3 |
-0.4 |
|
Purchase of Construction in Progress |
-31.9 |
-4.5 |
-1.5 |
-14.5 |
-6.9 |
|
Increase-Other LT Assets |
- |
- |
-0.1 |
-0.4 |
-1.1 |
|
Purchase of Facility Usage Right |
- |
-0.3 |
- |
- |
- |
|
Increase-Structure |
-0.8 |
-0.2 |
0.0 |
0.0 |
-0.1 |
|
Cash from Investing Activities |
-73.9 |
-6.7 |
9.9 |
-21.6 |
4.5 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
473.3 |
71.0 |
24.4 |
136.5 |
139.1 |
|
Increase in Bonds |
- |
12.9 |
- |
- |
16.0 |
|
Increase in Non-Current Borrowings |
25.7 |
11.9 |
1.8 |
9.7 |
18.4 |
|
Rights Issue |
1.0 |
0.5 |
- |
- |
1.5 |
|
Increase-Rent Guarantee Deposit |
- |
- |
0.0 |
0.0 |
0.0 |
|
Disposal Treas. Stk |
- |
- |
- |
- |
5.4 |
|
Decrease in Current Borrowings |
-505.1 |
-58.4 |
-38.3 |
-138.9 |
-129.2 |
|
Dec-Current LT Liabs |
-7.5 |
-12.6 |
-1.3 |
-2.0 |
-2.3 |
|
Decrease-Current Portion of Bond |
- |
-13.0 |
-0.1 |
- |
-16.1 |
|
Decrease in Non-Current Borrowings |
0.0 |
-0.3 |
- |
-1.0 |
- |
|
Dividend Paid |
-4.9 |
-4.1 |
-3.6 |
-4.2 |
-4.8 |
|
Dec-Overseas Biz Currency Translation |
- |
- |
- |
2.0 |
0.4 |
|
Inc-Overseas Business Translation Debit |
- |
- |
-1.1 |
- |
- |
|
Decrease-Lease Guarantee Deposit |
- |
- |
0.0 |
0.0 |
- |
|
Increase in Government Subsidy |
0.0 |
- |
- |
- |
- |
|
Cash from Financing Activities |
-17.6 |
8.0 |
-18.2 |
2.0 |
28.3 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.8 |
0.2 |
- |
- |
- |
|
Net Change in Cash |
-21.7 |
-18.9 |
31.9 |
-0.2 |
26.6 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
44.5 |
61.5 |
23.5 |
27.4 |
5.9 |
|
Cash and Cash Equivalents at End |
22.8 |
42.6 |
55.4 |
27.3 |
32.5 |
|
Cash Interest Paid |
4.9 |
4.4 |
- |
- |
- |
|
Cash Taxes Paid |
7.6 |
5.2 |
- |
- |
- |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.07 |
|
UK Pound |
1 |
Rs.89.54 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.