MIRA INFORM REPORT

 

 

Report Date :           

02.02.2012

 

IDENTIFICATION DETAILS

 

Name :

KT&G CORPORATION

 

 

Registered Office :

110, Pyeongchon-Dong, Daedeok-Gu, Daejeon, 306-712

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.04.1987

 

 

Legal Form :

Public Parent Company

 

 

Line of Business :

Subject is engaged in production and sale of cigarettes

 

 

No. of Employees :

4192

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

No Complaints 

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

KT&G Corporation

110, Pyeongchon-Dong

Daedeok-Gu

Daejeon, 306-712

Korea, Republic of

Tel:       82-42-9395000

Fax:      82-2-34044515

Web:     www.ktng.com

           

 

synthesis

 

Employees:                  4,192

Company Type:             Public Parent

Corporate Family:          2 Companies

Traded:                         Korea Stock Exchange:  033780

Incorporation Date:         01-Apr-1987

Auditor:                        KPMG LLP       

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       South Korean Won

Annual Sales:               3,461,418.5

Net Income:                  1,031,823.4

Total Assets:                5,777,059.0

Market Value:               10,118,460.0

(20-Jan-2012)

 

 

Business Description     

 

KT&G Corporation is a Korea-based company principally engaged in the production and sale of cigarettes. The Company primarily manufactures and sells cigarettes under the brand names of HOOPA, ESSE Soun 0.1, SIMPLE ACE, RAISON BLUE CAT, Y IS STYLE BLANC, THE ONE 0.1, BlackJack Black, THE ONE FRESH, Arirang and others in domestic market. In addition, the Company also exports cigarettes under the brand names of ESSE GOLDEN LEAF SE, ESSE SILVER, ESSE MENTHOL, ESSE LIGHTS, ESSE ONE, PINE Menthol Lights, ZEST, CIMA, CARNIVAL, RAISON and CLOUD 9 to the Middle East, Central Asia, the Americas, Southeast Asia and China. As of December 31, 2010, the Company had seven affiliated companies domestically and abroad. For the three months ended 31 March 2011, KT&G Corporation's total revenues increased 6% to W824.44B. The Company's net income increased less than 1% to W182.40B. Total revenues reflect increased overseas demands for cigarettes. Net income was partially offset by decreased gain on LT deposit investment, exclusion of gain on disposal of security available for sale and decreased gain on foreign exchange transaction.

Industry             

Industry            Tobacco

ANZSIC 2006:    1220 - Cigarette and Tobacco Product Manufacturing

NACE 2002:      1600 - Manufacture of tobacco products

NAICS 2002:     312221 - Cigarette Manufacturing

UK SIC 2003:    1600 - Manufacture of tobacco products

US SIC 1987:    2111 - Cigarettes

 

           

Key Executives

 

Name

Title

Young Kyoon Kwak

Chairman of the Board, Chief Executive Officer

Kwang-Youl Lee

Senior Managing Director, Marketing and Sales

Gun-Young Byun

Manager-Export

Il Jong Kim

Director-Quality

Paul Kim

Manager-Investor Relations

 

 

Significant Developments

 

Topic

#*

Most Recent Headline

Date

Strategic Combinations

2

Q Capital Partners Co., Ltd. to Jointly Establish PEF

25-Oct-2011

Equity Financing / Related

1

KT&G Corporation to Dispose Treasury Shares

14-Dec-2011

Share Repurchases

1

KT&G Corporation Announces Share Repurchase

20-Apr-2011

Dividends

1

KT&G Corporation Declares Annual Cash Dividend for FY 2011

19-Jan-2012

 

 

 

* number of significant developments within the last 12 months     

 

 

news

 

Title

Date

Cheong-Kwan-Jang Brand of Korean Ginseng Popular at PGA Tour
PR Web (691 Words)

26-Jan-2012

Yungjin files patent application for vasodilator formulation
Datamonitor Pharmaceutical & HealthWire (73 Words)

23-Jan-2012

YUNGJIN signs export and supply contract for spinal stenosis drug with China
Datamonitor Pharmaceutical & HealthWire (121 Words)

23-Jan-2012

KT&G's net plunges 20.7 pct in 2011
Yonhap News Agency (South Korea) (206 Words)

19-Jan-2012

S. KOREAN TOBACCO CO KT&G'S NET PLUNGES 20.7 PCT IN 2011
Asia Pulse Businesswire (214 Words)

19-Jan-2012

 

 

Financial Summary    

 

As of 30-Sep-2011

Key Ratios                               Company         Industry

Current Ratio (MRQ)                   3.43                  1.14

Quick Ratio (MRQ)                     2.05                  0.52

Debt to Equity (MRQ)                 0.02                  3.05

Sales 5 Year Growth                  5.53                  1.71

Net Profit Margin (TTM) %           23.13                12.94

Return on Assets (TTM) %          14.52                17.41

Return on Equity (TTM) %           18.70                65.19

 

 

 

Stock Snapshot

 

 

Traded: Korea Stock Exchange: 033780

 

As of 20-Jan-2012

   Financials in: KRW

Recent Price

73,700.00

 

EPS

7,587.89

52 Week High

85,300.00

 

Price/Sales

2.92

52 Week Low

53,400.00

 

Dividend Rate

3,200.00

Avg. Volume (mil)

0.47

 

Price/Earnings

11.03

Market Value (mil)

10,118,460.00

 

Price/Book

2.06

 

 

 

Beta

-0.02

 

Price % Change

Rel S&P 500%

4 Week

-11.52%

-15.27%

13 Week

-2.38%

-7.97%

52 Week

18.49%

28.01%

Year to Date

-9.46%

-15.22%

 

 

 

Corporate Overview

 

Location

110, Pyeongchon-Dong

Daedeok-Gu

Daejeon, 306-712

Korea, Republic of

Tel:       82-42-9395000

Fax:      82-2-34044515

Web:    www.ktng.com

           

Quote Symbol - Exchange

033780 - Korea Stock Exchange

Sales KRW(mil):            3,461,418.5

Assets KRW(mil):          5,777,059.0

Employees:                   4,192

Fiscal Year End:            31-Dec-2010

Industry:                        Tobacco

Incorporation Date:         01-Apr-1987

Company Type:             Public Parent

Quoted Status:              Quoted

Previous Name:             Korea Tobacco & Ginseng Corporation

Chairman of the Board,

Chief Executive Officer:   Young Kyoon Kwak

 

Company Web Links

·         Corporate History/Profile

·         Executives

·         Financial Information

·         Home Page

·         Investor Relations

·         News Releases

·         Products/Services

 

Contents

·         Industry Codes

·         Business Description

·         Brand/Trade Names

·         Financial Data

·         Market Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1220     -          Cigarette and Tobacco Product Manufacturing

3606     -          Liquor and Tobacco Product Wholesaling

 

NACE 2002 Codes:

1600     -          Manufacture of tobacco products

5135     -          Wholesale of tobacco products

 

NAICS 2002 Codes:

424940  -          Tobacco and Tobacco Product Merchant Wholesalers

312221  -          Cigarette Manufacturing

 

US SIC 1987:

2111     -          Cigarettes

5194     -          Tobacco and Tobacco Products

 

UK SIC 2003:

1600     -          Manufacture of tobacco products

5135     -          Wholesale of tobacco products

 

Business Description

KT&G Corporation is a Korea-based company principally engaged in the production and sale of cigarettes. The Company primarily manufactures and sells cigarettes under the brand names of HOOPA, ESSE Soun 0.1, SIMPLE ACE, RAISON BLUE CAT, Y IS STYLE BLANC, THE ONE 0.1, BlackJack Black, THE ONE FRESH, Arirang and others in domestic market. In addition, the Company also exports cigarettes under the brand names of ESSE GOLDEN LEAF SE, ESSE SILVER, ESSE MENTHOL, ESSE LIGHTS, ESSE ONE, PINE Menthol Lights, ZEST, CIMA, CARNIVAL, RAISON and CLOUD 9 to the Middle East, Central Asia, the Americas, Southeast Asia and China. As of December 31, 2010, the Company had seven affiliated companies domestically and abroad. For the three months ended 31 March 2011, KT&G Corporation's total revenues increased 6% to W824.44B. The Company's net income increased less than 1% to W182.40B. Total revenues reflect increased overseas demands for cigarettes. Net income was partially offset by decreased gain on LT deposit investment, exclusion of gain on disposal of security available for sale and decreased gain on foreign exchange transaction.

 

More Business Descriptions

Manufacture and sale of cigarettes and tobacco products

 

This major group includes general contractors and operative builders primarily engaged in the construction of residential, farm, industrial, commercial, or other buildings. General building contractors who combine a special trade with the contracting are included in this major group.

 

Tobacco Product Manufacturing

 

Brand/Trade Names

Bohem                                      Esse

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

3,461,418.5

Net Income:

1,031,823.4

Assets:

5,777,059.0

Long Term Debt:

1,539.6

 

Total Liabilities:

1,220,879.6

 

Working Capital:

2,436.6

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

-4.5%

21.2%

11.7%

 Top

Market Data

Quote Symbol:

033780

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

73,700.0

Stock Price Date:

01-20-2012

52 Week Price Change %:

18.5

Market Value (mil):

10,118,460,416.0

 

SEDOL:

6175076

ISIN:

KR7033780008

 

Equity and Dept Distribution:

All financials reflect consolidated results. FY'08 RES as of 12/31/09. 03/31/10 is CLA.

 Top

 

Key Corporate Relationships

Auditor:

KPMG LLP

 

Auditor:

KPMG LLP

 

 

 

 

 

 

 Top

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

KT&G Corporation

KT&G Corporation 
Total Corporate Family Members: 2 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
( mil)

Employees

 

KT&G Corporation

Parent

Daejeon

Korea, Republic of

Tobacco

3,461,419.0

4,192

 

KT&G Corporation

Subsidiary

Jakarta

Indonesia

Tobacco

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Young Kyoon Kwak

 

Chairman of the Board, Chief Executive Officer

Chairman

 

Suck-Kyo Ahn

 

Director

Director/Board Member

 

Yong Chan Ahn

 

Non-Executive Independent Director

Director/Board Member

 

Reuters Biography (KT&G Corporation)

Ahn Yong Chan has been Non-Executive Independent Director of KT&G Corporation since March 17, 2006. Currently, Ahn also serves as Vice Chairman of AEKYUNG Group, and Independent Director of SK Engineering & Construction co., ltd. Previously, Ahn served as President and Chief Executive Officer of AEKYUNG IND. CO., LTD. Ahn holds a Bachelor of Business Administration from Yonsei University, Korea, and a Master of Business Administration from University of Pennsylvania, the United States.



MBA , University of Pennsylvania
BBA , Yonsei University

Sun-Gak Cha

 

Director

Director/Board Member

 

 

Jin-Ho Chang

 

Director

Director/Board Member

 

 

Seung Rim Chi

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Chi Seung Rim has been Non-Executive Independent Director of KT&G Corporation since February 26, 2010. Chi currently also serves as Vice Chairman and Chief Executive Officer of Alticast Corp. Previously, Chi served as Vice President at SAMSUNG HEAVY INDUSTRIES CO.,LTD. Chi holds a Bachelor's degree in Mechanical Engineering from Yeungnam University, Korea.



B Mechanical Engineering, Yeungnam University

Gyu Ha Cho

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Cho Gyu Ha has been Non-Executive Independent Director of KT&G Corporation since February 26, 2010. Cho currently also serves as President of Yeouido-based hotel and President for Korea Branch at CSK HOLDINGS CORP's branch in Korea. Cho used to be Managing Director of Hanwha Securities Co., Ltd. Cho holds a Bachelor's degree from Korea University.



B , Korea University

Seung Lim Jee

 

Independent Non-Executive Director

Director/Board Member

 

 

Kyu Ha Jo

 

Independent Non-Executive Director

Director/Board Member

 

 

Yeong Gi Jung

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Jung Yeong Gi has been Non-Executive Independent Director of KT&G Corporation since March 4, 2011. Curreently, Jung serves as Associate Professor at Hongik University, Korea. Jung holds a Master's degree.

Kiu-Won Kim

 

Director

Director/Board Member

 

 

Won Yong Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Kim Won Yong has been Non-Executive Independent Director of KT&G Corporation since March 13, 2009. Kim was an Associate Professor of Ewha Womans University, Korea. Previously, Kim was President of Alticast Inc. Kim holds a Bachelor's degree in Broadcasting from Sungkyunkwan University, Korea, and a Doctorate's degree in Communications from Texas State University, the United States.



PHD Communications, Texas State University
B Broadcasting, Sungkyunkwan University

Jin Hyun Kim

 

Director

Director/Board Member

 

 

Jong Hun Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Kim Jong Hun has been Non-Executive Independent Director of KT&G Corporation since March 14, 2008. Currently, Kim serves as Chief Executive Officer and President of HanmiParsons Co., Ltd. Previously Kim served as Director of Construction at Samsung Corporation from January 1994 to June 1996 and worked as Vice Chairman of Korea Institute of Construction Engineering and Management from November 2003 to October 2005. Kim holds a Bachelor's degree in Architectural Engineering from Seoul National University, Korea, and a Master's degree from Sogang University, Korea.



MBA , Sogang University
M Architectural Engineering, Seoul National University
B Architectural Engineering, Seoul National University

Byong-Kyun Kim

 

Director

Director/Board Member

 

 

Jong-Hoon Kim

 

Director

Director/Board Member

 

 

Deuk Hwi Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Kim Deuk Hwi has been Non-Executive Independent Director of KT&G Corporation since February 26, 2010. Previously, Kim was Branch Manager of Standard Chartered First Bank Korea Ltd. Kim holds a Bachelor's degree in Economics from Konkuk University, Korea.



B Economics, Konkuk University

Jeong Sik Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Kim Jeong Sik has been Non-Executive Independent Director of KT&G Corporation since March 4, 2011. Currently, Kim also serves as College Dean at Soon Chun Hyang University, Korea.Previously, Kim served as President of Korea National Police University. Kim holds a Master's degree.

Yun Jae Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Lee Yun Jae has been Non-Executive Independent Director of KT&G Corporation since 2005. Currently, Lee also serves as Independent Director of LG Corp. Previously, Lee served as Chief Executive Officer of KorEI. Lee was also an Advisor of Kim & Chang. Lee holds a Bachelor of Law from Seoul National University, Korea, and a Master of Business Administration from Stanford University, the United States.



MBA , Stanford University
LLB , Seoul National University

Yoon-Jae Lee

 

Director

Director/Board Member

 

 

Chang Wu Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Lee Chang Wu has been Non-Executive Independent Director of KT&G Corporation since 2005. Lee also serves as Independent Director of STX. Lee used to be a professor of Business Administration at Seoul National University in Korea. Previously, Lee worked as a professor of Business Administration at New York University in the United States from 1987 to 1992. Lee received a Bachelor's degree in Business Administration from Seoul National University, Korea, and a Doctorate's degree in Business Administration from University of California, Berkeley, the United States.



PHD Business Administration, University of California, Berkeley
B Business Administration, Seoul National University

Jin-Moo Lee

 

Director

Director/Board Member

 

 

Wang Jae Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Lee Wang Jae has been Non-Executive Independent Director of KT&G Corporation since March 4, 2011. Currently, Lee also serves as Professor of Medicine at Seoul National University, Korea. Lee holds a Master's degree.

Jin Mu Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (KT&G Corporation)

Lee Jin Mu has been Non-Executive Independent Director of KT&G Corporation since March 14, 2008. Lee also servs as Vice Chairman of a Korea-based company. Previously, Lee served as President at Korea Johnson Co., Ltd, Regional Director of Philip Morris in Korea from June 1998 to February 2002 and worked as Regional Director of Philip Morris in Malaysia from March 2002 to August 2003. Lee was Chief Executive Officer cum President of Philip Morris, BACARDI KOREA and Korea Johnson. Lee holds a Bachelor's degree in Economics from Sogang University, Korea.



B Economics, Sogang University

 

Executives

 

Name

Title

Function

 

Young Kyoon Kwak

 

Chairman of the Board, Chief Executive Officer

Chief Executive Officer

 

Cheol Man Baek

 

Assistant Managing Director

Managing Director

 

Bok Yin Baek

 

Assistant Managing Director

Managing Director

 

Gi Du Hahm

 

Managing Director

Managing Director

 

Reuters Biography (KT&G Corporation)

Hahm Gi Du has been Managing Director of KT&G Corporation since 2009. Hahm used to be Assistant Managing Director of the Company.

Eop Huh

 

Assistant Managing Director

Managing Director

 

 

Jae Sik Jang

 

Assistant Managing Director

Managing Director

 

 

Ju Won Kang

 

Managing Director

Managing Director

 

 

Reuters Biography (KT&G Corporation)

Kang Ju Won has been Managing Director of KT&G Corporation since 2009. Kang used to be Assistant Managing Director of the Company.

Cheol Ho Kang

 

Assistant Managing Director

Managing Director

 

 

Jun Gi Kim

 

Managing Director

Managing Director

 

 

Reuters Biography (KT&G Corporation)

Kim Jun Gi has been Managing Director of KT&G Corporation since March 1, 2011. Kim used to be Assistant Managing Director of the Company.

Dae Seong Kim

 

Assistant Managing Director

Managing Director

 

 

Kwang-Youl Lee

 

Senior Managing Director, Marketing and Sales

Managing Director

 

 

Gwang Hun Lee

 

Assistant Managing Director

Managing Director

 

 

Gwan Ju Lee

 

Assistant Managing Director

Managing Director

 

 

Jae Heon Lee

 

Managing Director

Managing Director

 

 

Sang Gi Lee

 

Managing Director

Managing Director

 

 

Young Jin Min

 

Senior Managing Director, Overseas Business

Managing Director

 

 

Reuters Biography (KT&G Corporation)

Min Yeong Jin has been President, Chief Executive Officer and Director of KT&G Corporation since February 26, 2010. Previously, Min served the Company as Managing Director, Head of Marketing Unit and Overseas Unit. Min holds a Master's degree in Agriculture from Konkuk University, Korea.



M Agriculture, Konkuk University

Byeong Han Min

 

Managing Director

Managing Director

 

 

Reuters Biography (KT&G Corporation)

Min Byeong Han has been Managing Director of KT&G Corporation since March 1, 2011. Min used to be Assistant Managing Director of the Company.

Seong Hun Park

 

Assistant Managing Director

Managing Director

 

 

Jun Gi Yoo

 

Assistant Managing Director

Managing Director

 

 

Paul Kim

 

Manager-Investor Relations

Investment Executive

 

 

Gun-Young Byun

 

Manager-Export

Sales Executive

 

 

Young Tae Lee

 

Director-Research & Development

Research & Development Executive

 

 

Il Jong Kim

 

Director-Quality

Quality Executive

 

 

 

 

Significant Developments

 

KT&G Corporation Declares Annual Cash Dividend for FY 2011 Jan 19, 2012

 

KT&G Corporation announced that it has declared an annual cash dividend of KRW 3,200 per share of common stock to shareholders of record on December 31, 2011, for the fiscal year 2011. The dividend rate of market price is 3.89% and the total amount of the cash dividend is KRW 402,396,160,000. The Company's annual cash dividend for the fiscal year 2010 was KRW 3,000 per share.

 

KT&G Corporation to Dispose Treasury Shares Dec 14, 2011

 

KT&G Corporation announced that it will sell 100,000 shares of its common stock for KRW 8,170 million. Q Capital Partners Co., Ltd. to Jointly Establish PEF Oct 25, 2011

 

Q Capital Partners Co., Ltd. announced that it has decided to jointly establish a private equity fund with KT&G Corporation. The new entity, will be capitalized at KRW 800 billion, and Q Capital Partners Co., Ltd. will invest KRW 400 billion to hold a 50% stake in it with KT&G Corporation holding 50% stake.

 

KT&G Corporation Announces Share Repurchase Apr 20, 2011

 

KT&G Corporation announced that its Board of Directors has authorized the Company to repurchase 2 million shares of its common stock, worth KRW 108.4 billion, to maximize shareholders' value through stabilizing its share price. The authorization allows the repurchase of shares from April 21, 2011 to July 20, 2011.

 

KT&G Corporation Signs MOU with Yanji Government (China) Mar 23, 2011

 

KT&G Corporation announced that it has signed a memorandum of understanding (MOU) with Yanji Government (China), to invest KRW 137.2 billion to KRW 171.5 billion in ginseng business.

 

 

 

Annual Income Statement

 

Financials in: REP (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

Total Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

 

 

 

 

 

 

    Cost of Revenue

1,446,708.4

1,553,264.1

1,312,531.6

-

-

Cost of Revenue, Total

1,446,708.4

1,553,264.1

1,312,531.6

-

-

Gross Profit

2,014,710.0

2,073,089.0

1,999,787.5

3,046,384.2

2,816,117.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

279,526.7

254,185.8

809,681.3

218,676.3

197,138.4

    Labor & Related Expense

334,975.2

317,197.0

21,000.0

277,951.4

266,945.9

    Advertising Expense

245,802.0

219,332.0

-

172,050.4

171,069.7

Total Selling/General/Administrative Expenses

860,303.9

790,714.8

830,681.3

668,678.1

635,154.0

Research & Development

21,550.0

20,345.0

-

22,834.3

20,920.9

    Depreciation

47,704.0

53,118.0

-

56,243.1

49,104.2

    Amortization of Intangibles

1,219.0

1,378.0

-

4,508.4

4,494.3

Depreciation/Amortization

48,923.0

54,496.0

-

60,751.5

53,598.5

        Investment Income - Operating

11,146.0

28,321.0

-

-

-

    Interest/Investment Income - Operating

11,146.0

28,321.0

-

-

-

Interest Expense (Income) - Net Operating Total

11,146.0

28,321.0

-

-

-

    Impairment-Assets Held for Use

-

-

-

3,244.9

204.8

    Impairment-Assets Held for Sale

-

-

-

2,163.1

2,363.8

    Loss (Gain) on Sale of Assets - Operating

-93,114.0

-5,383.0

-

-

-

    Other Unusual Expense (Income)

2,769.0

1,669.0

-

6.5

3.0

Unusual Expense (Income)

-90,345.0

-3,714.0

-

5,414.5

2,571.6

    Other Operating Expense

5,721.4

6,917.8

50,061.2

1,055.2

1,089.2

    Other, Net

17,316.6

20,272.9

-118,859.4

1,313,029.3

1,248,129.0

Other Operating Expenses, Total

23,038.0

27,190.8

-68,798.2

1,314,084.5

1,249,218.2

Total Operating Expense

2,321,324.3

2,470,617.6

2,074,414.7

2,071,762.9

1,961,463.1

 

 

 

 

 

 

Operating Income

1,140,094.1

1,155,735.4

1,237,904.5

974,621.3

854,654.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-3,255.0

-4,815.0

-13,711.2

-4,501.7

-3,856.3

    Interest Expense, Net Non-Operating

-3,255.0

-4,815.0

-13,711.2

-4,501.7

-3,856.3

        Interest Income - Non-Operating

-

-

21,251.7

41,497.0

43,276.1

        Investment Income - Non-Operating

245,294.8

-1,094.6

-317.5

13,740.5

10,877.6

    Interest/Investment Income - Non-Operating

245,294.8

-1,094.6

20,934.2

55,237.5

54,153.7

    Interest Income (Expense) - Net Non-Operating

23,541.0

12,052.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

265,580.8

6,142.4

7,223.0

50,735.8

50,297.4

Gain (Loss) on Sale of Assets

-

-

-

4,718.7

500.5

    Other Non-Operating Income (Expense)

-

0.3

-

-92,277.1

-17,397.8

Other, Net

-

0.3

-

-92,277.1

-17,397.8

Income Before Tax

1,405,674.9

1,161,878.1

1,245,127.5

937,798.8

888,054.5

 

 

 

 

 

 

Total Income Tax

374,886.3

311,783.7

349,998.9

291,393.7

242,066.6

Income After Tax

1,030,788.6

850,094.3

895,128.6

646,405.1

645,987.8

 

 

 

 

 

 

    Minority Interest

1,034.8

996.3

2,648.5

16,200.6

2,942.1

Net Income Before Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Basic EPS Excl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Basic/Primary EPS Incl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Diluted Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Diluted EPS Excl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted EPS Incl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Dividends per Share - Common Stock Primary Issue

3,000.00

2,800.00

2,800.00

2,600.00

2,400.00

Gross Dividends - Common Stock

382,946.0

356,157.0

360,357.0

340,449.0

319,712.0

Interest Expense, Supplemental

4,469.1

4,815.0

4,714.0

4,501.7

3,856.3

Depreciation, Supplemental

147,673.0

151,884.0

151,151.0

150,867.2

132,571.2

Total Special Items

-90,345.0

-3,714.0

-

3,665.8

5,041.0

Normalized Income Before Tax

1,315,329.9

1,158,164.1

1,245,127.5

941,464.6

893,095.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-24,094.5

-996.6

-

216.2

564.5

Inc Tax Ex Impact of Sp Items

350,791.7

310,787.1

349,998.9

291,609.9

242,631.2

Normalized Income After Tax

964,538.2

847,377.0

895,128.6

649,854.7

650,464.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

965,572.9

848,373.3

897,777.0

666,055.2

653,406.5

 

 

 

 

 

 

Basic Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Diluted Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Amort of Acquisition Costs, Supplemental

-

-

-

2,970.0

2,970.0

Amort of Intangibles, Supplemental

1,324.0

1,492.0

2,034.0

1,557.3

4,513.2

Rental Expenses

21,061.0

18,049.0

13,922.0

8,804.0

6,205.9

Advertising Expense, Supplemental

245,802.0

219,332.0

198,861.0

172,050.4

171,069.7

Research & Development Exp, Supplemental

21,550.0

20,345.0

21,908.0

22,834.3

20,920.9

Normalized EBIT

1,060,895.1

1,180,342.4

1,237,904.5

980,035.8

857,225.8

Normalized EBITDA

1,209,892.1

1,333,718.4

1,391,089.5

1,135,430.3

997,280.2

 

 

Annual Balance Sheet

Financials in: KRW (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

    Short Term Investments

16,272.8

49,034.8

26,772.3

1,091.9

1,555.0

Cash and Short Term Investments

997,586.5

365,706.5

137,017.1

138,779.0

203,424.2

        Accounts Receivable - Trade, Gross

543,788.8

529,531.6

558,567.8

381,223.9

394,335.0

        Provision for Doubtful Accounts

-6,875.0

-8,035.0

-7,869.0

-11,419.6

-39,306.0

    Trade Accounts Receivable - Net

539,117.8

522,069.6

551,082.8

370,130.7

355,271.3

    Other Receivables

87,291.0

78,734.0

82,557.0

54,653.0

144,418.7

Total Receivables, Net

626,408.8

600,803.6

633,639.8

424,783.7

499,690.0

    Inventories - Finished Goods

253,465.0

269,397.0

187,703.0

137,912.3

141,937.4

    Inventories - Work In Progress

313,301.0

318,780.0

478,131.0

279,229.0

231,518.8

    Inventories - Raw Materials

878,502.0

878,360.0

859,806.0

818,492.7

890,867.1

    Inventories - Other

93,309.6

86,156.1

64,233.5

105,786.4

65,737.4

Total Inventory

1,538,577.6

1,552,693.1

1,589,873.5

1,341,420.4

1,330,060.8

Prepaid Expenses

199,404.3

181,245.5

205,474.6

9,408.9

7,421.4

    Deferred Income Tax - Current Asset

-

-

-

17,604.5

8,225.9

    Other Current Assets

-

0.0

0.0

-

122.4

Other Current Assets, Total

-

0.0

0.0

17,604.5

8,348.3

Total Current Assets

3,361,977.3

2,700,448.8

2,566,005.0

1,931,996.5

2,048,944.7

 

 

 

 

 

 

        Buildings

825,647.0

758,966.0

733,416.0

792,374.5

743,745.7

        Land/Improvements

436,950.0

437,143.0

436,527.0

431,727.8

381,943.7

        Machinery/Equipment

1,241,963.0

1,252,074.0

1,215,497.0

1,159,073.5

1,028,826.8

        Construction in Progress

89,389.0

69,340.0

57,120.0

84,053.3

84,606.9

        Other Property/Plant/Equipment

748.9

744.2

743.6

744.2

605.0

    Property/Plant/Equipment - Gross

2,594,697.9

2,518,267.2

2,443,303.6

2,467,973.2

2,239,728.2

    Accumulated Depreciation

-1,083,860.0

-1,046,712.0

-939,313.0

-908,684.1

-776,984.3

Property/Plant/Equipment - Net

1,510,837.9

1,471,555.2

1,503,990.6

1,559,289.1

1,462,743.9

Intangibles, Net

63,145.2

55,699.9

51,933.9

30,796.2

12,248.4

    LT Investment - Affiliate Companies

1,596.5

1,584.4

1,270.2

36,207.5

2,598.5

    LT Investments - Other

436,305.7

546,484.8

409,458.1

259,719.1

96,517.2

Long Term Investments

437,902.3

548,069.2

410,728.3

295,926.5

99,115.7

Note Receivable - Long Term

114,539.5

130,046.6

138,379.1

100,041.7

63,448.0

    Deferred Income Tax - Long Term Asset

11,066.9

8,169.1

7,108.7

1,764.7

-

    Other Long Term Assets

277,590.0

257,894.5

234,783.7

214,287.4

170,625.1

Other Long Term Assets, Total

288,656.9

266,063.6

241,892.4

216,052.1

170,625.1

Total Assets

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

Accounts Payable

301,211.2

326,598.2

455,332.6

15,201.8

14,896.3

Accrued Expenses

324,857.0

350,049.8

370,196.9

328,062.5

194,854.8

Notes Payable/Short Term Debt

66,507.2

94,532.5

104,113.1

38,199.5

80,997.8

Current Portion - Long Term Debt/Capital Leases

505.6

447.9

280.4

210.3

-

    Customer Advances

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

    Income Taxes Payable

222,932.3

128,418.8

187,609.9

220,427.5

135,654.4

    Other Payables

-

-

-

105,692.9

30,548.0

    Other Current Liabilities

-

-

2,698.5

16,895.6

17,752.7

Other Current liabilities, Total

232,267.0

151,934.8

262,016.5

349,231.7

192,371.9

Total Current Liabilities

925,348.0

923,563.2

1,191,939.4

730,905.8

483,120.8

 

 

 

 

 

 

    Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Debt

68,552.4

97,006.8

106,867.8

41,142.5

82,399.8

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

Deferred Income Tax

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

Minority Interest

42,130.0

27,112.2

27,563.8

20,117.4

20,218.5

    Reserves

2,219.8

2,256.4

1,957.0

1,258.1

76,280.5

    Pension Benefits - Underfunded

-

-

-

86,392.5

99,506.4

    Other Long Term Liabilities

82,139.7

68,688.9

105,959.8

25,050.8

27,524.9

Other Liabilities, Total

84,359.5

70,945.3

107,916.8

112,701.4

203,311.8

Total Liabilities

1,220,879.7

1,190,992.2

1,436,656.3

990,992.1

811,581.3

 

 

 

 

 

 

    Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

Additional Paid-In Capital

5,332.7

5,320.5

2,869.3

465,866.0

335,349.6

Retained Earnings (Accumulated Deficit)

3,330,585.7

2,779,281.3

2,277,114.7

2,134,736.0

2,061,348.6

Treasury Stock - Common

-216,827.0

-226,944.7

-226,944.7

-414,947.3

-321,903.9

Unrealized Gain (Loss)

-

-

-

3,135.0

16,938.3

    Translation Adjustment

-

-

-

-639.2

-1,147.5

    Other Equity

482,128.5

468,274.4

468,274.4

-

-

Other Equity, Total

482,128.5

468,274.4

468,274.4

-639.2

-1,147.5

Total Equity

4,556,179.4

3,980,891.0

3,476,273.2

3,143,110.0

3,045,544.5

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

127.6

127.2

128.7

130.8

133.2

Total Common Shares Outstanding

127.6

127.2

128.7

130.8

133.2

Treasury Shares - Common Stock Primary Issue

9.6

10.1

10.1

12.6

14.2

Employees

4,214

4,653

4,750

4,367

4,317

Number of Common Shareholders

104,382

132,863

105,512

107,629

120,524

Accumulated Intangible Amort, Suppl.

20,105.0

15,217.0

-

-

-

Deferred Revenue - Current

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

Total Long Term Debt, Supplemental

505.6

447.9

2,754.0

2,943.0

1,402.0

Long Term Debt Maturing within 1 Year

505.6

447.9

280.0

210.0

97.5

Long Term Debt Maturing in Year 2

-

-

448.0

280.0

97.5

Long Term Debt Maturing in Year 3

-

-

504.0

446.0

259.0

Long Term Debt Maturing in Year 4

-

-

504.0

501.0

259.0

Long Term Debt Maturing in 2-3 Years

-

-

952.0

726.0

356.5

Long Term Debt Maturing in 4-5 Years

-

-

504.0

501.0

259.0

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

1,018.0

1,506.0

689.0

 

 

Annual Cash Flows

Financials in: KRW (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

1,030,789.0

850,094.0

1,063,379.1

646,405.1

648,930.0

    Depreciation

147,673.0

151,884.0

-

150,867.2

132,571.2

Depreciation/Depletion

147,673.0

151,884.0

-

150,867.2

132,571.2

    Amortization of Intangibles

1,324.0

1,492.0

-

4,527.3

4,513.2

Amortization

1,324.0

1,492.0

-

4,527.3

4,513.2

Deferred Taxes

-

-

-

-8,945.6

3,042.7

    Unusual Items

-93,910.0

-7,513.0

-

29,630.2

6,855.9

    Equity in Net Earnings (Loss)

287.0

185.0

-

-1,187.8

-789.7

    Other Non-Cash Items

207,015.0

363,729.0

-

58,645.9

32,620.9

Non-Cash Items

113,392.0

356,401.0

-

87,088.3

38,687.1

    Accounts Receivable

-51,650.0

17,697.0

-

-46,958.4

-13,317.4

    Inventories

10,523.0

19,984.0

-

-26,733.7

53,197.2

    Prepaid Expenses

-9,746.0

28,738.0

-

-3,265.9

-2,719.0

    Other Assets

-

-

-

-109,877.6

-69.7

    Accounts Payable

-23,947.0

-122,072.0

-

66,562.8

-18,981.7

    Accrued Expenses

-25,193.0

-20,147.0

-

137,672.5

3,205.2

    Taxes Payable

-

-

-

35,909.3

56,551.1

    Other Liabilities

-94,458.0

-100,229.0

-

-29,150.3

-32,563.1

    Other Operating Cash Flow

-253,595.8

-352,729.1

-365,569.5

-

-

Changes in Working Capital

-448,066.8

-528,758.1

-365,569.5

24,158.6

45,302.5

Cash from Operating Activities

845,111.2

831,112.9

697,809.6

904,100.8

873,046.7

 

 

 

 

 

 

    Purchase of Fixed Assets

-211,635.8

-152,571.2

-205,871.4

-271,144.4

-284,995.2

    Purchase/Acquisition of Intangibles

-13,606.3

-5,892.2

-6,382.3

-2,407.9

-931.8

Capital Expenditures

-225,242.1

-158,463.4

-212,253.8

-273,552.3

-285,927.0

    Sale of Fixed Assets

136,556.1

18,637.6

23,107.4

26,795.8

21,715.1

    Sale/Maturity of Investment

265,677.8

2,347.5

348.7

14,070.8

289,985.2

    Purchase of Investments

-39,923.4

-12,495.5

-19,598.8

-246,904.7

-11,011.4

    Sale of Intangible Assets

1,016.1

63.9

35.5

204.5

20.1

    Other Investing Cash Flow

16,267.5

1,514.3

-3,258.9

77,162.2

-24,791.2

Other Investing Cash Flow Items, Total

379,594.1

10,067.8

633.9

-128,671.3

275,917.8

Cash from Investing Activities

154,352.0

-148,395.6

-211,619.9

-402,223.7

-10,009.2

 

 

 

 

 

 

    Other Financing Cash Flow

-4,052.3

-5,615.6

-5,777.5

-3,272.4

5,865.8

Financing Cash Flow Items

-4,052.3

-5,615.6

-5,777.5

-3,272.4

5,865.8

Total Cash Dividends Paid

-356,156.6

-360,356.6

-340,449.2

-319,712.0

-249,702.7

        Sale/Issuance of Common

45,083.1

-

-

253,103.3

76,767.5

        Repurchase/Retirement of Common

-

-103,998.9

-194,128.1

-455,034.7

-857,777.5

    Common Stock, Net

45,083.1

-103,998.9

-194,128.1

-201,931.5

-781,010.0

Issuance (Retirement) of Stock, Net

45,083.1

-103,998.9

-194,128.1

-201,931.5

-781,010.0

        Short Term Debt Issued

45,832.3

75,261.6

80,905.0

183,977.9

140,192.2

        Short Term Debt Reduction

-62,941.3

-83,227.1

-64,735.9

-226,662.3

-125,527.3

    Short Term Debt, Net

-17,109.0

-7,965.5

16,169.1

-42,684.4

14,664.9

        Long Term Debt Issued

-

-

22.0

1,541.0

105.0

        Long Term Debt Reduction

-429.1

-280.4

-210.3

-

-

    Long Term Debt, Net

-429.1

-280.4

-188.3

1,541.0

105.0

Issuance (Retirement) of Debt, Net

-17,538.1

-8,245.9

15,980.8

-41,143.4

14,769.9

Cash from Financing Activities

-332,664.0

-478,217.1

-524,374.0

-566,059.2

-1,010,077.0

 

 

 

 

 

 

Foreign Exchange Effects

-2,157.3

1,926.6

2,211.3

-

-

Net Change in Cash

664,642.0

206,426.9

-35,973.0

-64,182.1

-147,039.5

 

 

 

 

 

 

Net Cash - Beginning Balance

316,671.8

110,244.9

146,217.9

201,869.2

348,908.7

Net Cash - Ending Balance

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

Cash Interest Paid

2,717.1

4,976.3

4,254.7

-

-

Cash Taxes Paid

253,596.2

352,728.7

365,569.5

-

-

 

Annual Income Statement

 

Financials in: REP (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

Total Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

 

 

 

 

 

 

    Other Income

-

-

-118,859.4

1,313,029.3

1,248,129.0

    Costs of Goods and Services Sold

1,446,708.4

1,553,264.1

1,312,531.6

-

-

    Interal Employee Benefits Fund

12,492.2

19,500.0

21,000.0

-

-

    Selling and Administrative Expenses

-

-

809,681.3

-

-

    Salaries & Wages

238,856.0

243,377.0

-

216,933.6

201,486.8

    Retirement Allowance

55,460.0

26,857.0

-

26,234.4

34,716.8

    Employee Benefits

28,167.0

27,463.0

-

34,783.4

30,742.4

    Commissions Paid

145,542.0

132,005.0

-

86,284.8

83,446.8

    Travel Expenses

10,885.0

9,337.0

-

8,474.2

6,921.6

    Utility Expenses

7,085.0

6,615.0

-

6,229.9

5,903.3

    Taxes and Dues

17,492.0

17,427.0

-

21,027.9

20,845.4

    Communication Exp.

5,177.0

5,135.0

-

4,736.6

4,366.7

    Rent

21,061.0

18,049.0

-

8,804.0

6,205.9

    Insurance Expenses

1,286.0

1,224.0

-

1,308.8

1,381.6

    Entertainment

-

-

-

2,509.1

1,927.3

    Expenses-Samples

-

-

-

15.6

18.0

    Shipping and Storage Expenses

36,840.0

32,062.0

-

30,457.7

26,830.2

    Expenses-Consumable Goods

3,542.0

5,050.0

-

3,502.9

3,138.4

    Expenses-Uniforms

-

-

-

162.4

153.9

    Repair & Maintenance

8,075.0

5,264.0

-

10,509.0

5,425.5

    Vehicle Expenses

8,877.0

9,081.0

-

7,539.0

7,577.2

    Education & Training

10,158.0

7,482.0

-

9,461.0

7,789.3

    Conference Expenses

3,507.0

5,455.0

-

6,917.2

7,960.0

    Award Expenses

-

-

-

2,107.9

2,278.6

    Miscellaneous Expenses

-

-

50,061.2

1,055.2

1,089.2

    Damage Compensation Expense

2,769.0

1,669.0

-

6.5

3.0

    Cooperating Expenses

-

-

-

797.1

631.8

    Exporting Expenses

-

-

-

589.1

487.1

    Advertising Expense

245,802.0

219,332.0

-

172,050.4

171,069.7

    Research&Testing Exp

-

-

-

17,348.3

14,799.8

    Development Expense

21,550.0

20,345.0

-

5,486.0

6,121.1

    Depreciation Expense

47,704.0

53,118.0

-

56,243.1

49,104.2

    Amort of Intangibles

1,219.0

1,378.0

-

4,508.4

4,494.3

    Provision-Bad Debt

-

-

-

7,241.9

3,849.6

    Loss on Reduction of Securities Avail

-

-

-

2,163.1

2,363.8

    Loss on Reduction of Tangible Assets

-

-

-

2,179.1

204.8

    Loss on Reduction of Intangible Asset

-

-

-

1,065.8

-

    Selling&Administrative Expense, Adjustme

-0.3

-0.2

-

-

-

    Gain on Foreign Currency Transaction

-21,590.0

-30,204.0

-

-

-

    Gain on Foreign Currency Translation

-1,717.0

-1,184.0

-

-

-

    Recovery-Impair.oss on Trade Recei&

-216.0

-46.0

-

-

-

    Gain on Sale of Equity Method Securities

-300.0

0.0

-

-

-

    Gain on Sale of Tangible Asset

-101,886.0

-17,033.0

-

-

-

    Gain on Sale of Intangible Assets

-24.0

0.0

-

-

-

    Other Operating Income

-13,874.0

-13,029.0

-

-

-

    Other Income, Adjustment

-0.4

-0.1

-

-

-

    Loss on Foreign Currency Transaction

23,880.0

40,697.0

-

-

-

    Loss on Foreign Currency Translation

5,755.0

17,708.0

-

-

-

    Loss Reduction of Trade Recei.&Other Rec

473.0

720.0

-

-

-

    Donation Paid

30,934.0

32,628.0

-

-

-

    Loss on Sale of Tangible Assets

2,386.0

7,496.0

-

-

-

    Loss Reduction of Tangible Assets

0.0

657.0

-

-

-

    Loss on Sale of Intangible Assets

159.0

0.0

-

-

-

    Loss Reduction of Intangible Assets

3,681.0

647.0

-

-

-

    Loss Reduction of Investment Properties

1,437.0

0.0

-

-

-

    Loss-Scrapping of Inventory

6,251.0

4,154.0

-

-

-

    Other Expense

5,721.0

6,918.0

-

-

-

    Other Expense, Adjustment

0.4

-0.2

-

-

-

Total Operating Expense

2,321,324.3

2,470,617.6

2,074,414.7

2,071,762.9

1,961,463.1

 

 

 

 

 

 

    Financial Income

-

-

21,251.7

41,497.0

43,276.1

    Interest Income

23,541.0

12,052.0

-

-

-

    Dividend Income

2,056.0

215.0

-

516.6

-

    Gain on Derivatives Transactions

-

-

-

133.2

-

    Gain-Investment on LT Deposit

4,637.0

23.0

-

-

-

    Gain on Sale of Available for Sale Finan

240,104.0

563.0

-

-

-

    Rental Income

-

0.3

-

400.9

343.1

    Financial Income, Adjustment

-0.2

-

-

-

-

    NI Gain on Disposal of Tangible Assets

-

-

-

10,237.1

8,348.8

    Gain-Disposal of Other LT Assets

-

-

-

141.2

-

    NI Gain on Disposal of Securities Availa

-

-

-

10,840.0

1,790.2

    Gain on Foreign Exchange Transaction

-

-

-

3,239.7

2,481.2

    Gain on Foreign Currency Translation

-

-

-

2,625.4

59.1

    Gain on Coversion of Convertible Bond

-

-

-

-

1,875.9

    Gains from Franchises

-

-

-

382.0

252.0

    Recovery of Loan Loss Reserve

-

-

-

1,913.4

28,720.0

    Recovery of Tariffs

-

-

-

-

56,070.0

    Interest Expense

-3,255.0

-4,815.0

-

-

-

    Loss on Sale of Available for Sale Finan

-1,214.0

0.0

-

-

-

    Loss on Derivative Transaction

0.0

-1,711.0

-

-

-

    Financial Expense, Adjustment

-0.1

0.1

-

-

-

    Loss on Disposal of Accounts Receivab

-

-

-

-483.2

-427.5

    Miscellaneous Non-Operating Income

-

-

-

8,046.9

30,433.0

    Financial Expense

-

-

-13,711.2

-4,501.7

-3,856.3

    Loss on Disposal of Tangible Assets

-

-

-

-4,845.4

-7,591.0

    Loss on Disposal of Securities Availa

-

-

-

-727.0

-

    Loss on Foreign Exchange Transaction

-

-

-

-3,730.1

-8,235.6

    Loss on Foreign Currency Translation

-

-

-

-212.1

-3,435.3

    Loss on Derivatives Transaction

-

-

-

-108.3

-

    Loss on Valuation of Derivatives

-

-

-

-24.5

-

    Trnsfr-Tobacco Fund

-

-

-

-35,516.4

-18,730.2

    Provision for Litigation Loss

-

-

-

-364.0

-

    NE Bad Debt Expense

-

-

-

-1,218.9

-2,331.9

    NE Loss on Scrap of Inventories

-

-

-

-814.2

-257.3

    Loss on Prior Period Error Correction

-

-

-

-20,958.9

-

    Addl Income Tax Paid

-

-

-

-

-1,021.6

    Donations Paid

-

-

-

-30,293.2

-104,007.3

    Provision-Voluntary Retirement Allowa

-

-

-

-

-1,934.5

    Miscellaneous Non-Operating Expense

-

-

-

-14,185.7

-6,638.8

    Gain under Equity Method

-

-

-

1,187.8

789.7

    Gain on Disposal of Secs/Equity Mtd.

-

-

-

-

17,428.3

    Share of Profit of Associates Accounted

0.0

6.5

6.1

-

-

    Share of Loss of Associates Accounted fo

-287.9

-191.3

-323.6

-

-

Net Income Before Taxes

1,405,674.9

1,161,878.1

1,245,127.5

937,798.8

888,054.5

 

 

 

 

 

 

Provision for Income Taxes

374,886.3

311,783.7

349,998.9

291,393.7

242,066.6

Net Income After Taxes

1,030,788.6

850,094.3

895,128.6

646,405.1

645,987.8

 

 

 

 

 

 

    Minority Interest Gain

1,034.8

996.3

2,648.5

16,200.6

2,942.1

Net Income Before Extra. Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Basic Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Basic EPS Excluding ExtraOrdinary Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Basic EPS Including ExtraOrdinary Item

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Diluted Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Diluted EPS Excluding ExtraOrd Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted EPS Including ExtraOrd Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

DPS-Common Stock

3,000.00

2,800.00

2,800.00

2,600.00

2,400.00

Gross Dividends - Common Stock

382,946.0

356,157.0

360,357.0

340,449.0

319,712.0

Normalized Income Before Taxes

1,315,329.9

1,158,164.1

1,245,127.5

941,464.6

893,095.5

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

350,791.7

310,787.1

349,998.9

291,609.9

242,631.2

Normalized Income After Taxes

964,538.2

847,377.0

895,128.6

649,854.7

650,464.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

965,572.9

848,373.3

897,777.0

666,055.2

653,406.5

 

 

 

 

 

 

Basic Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Diluted Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Interest Expense, Supplemental

4,469.1

4,815.0

4,714.0

4,501.7

3,856.3

Rental Expense, Supplemental

21,061.0

18,049.0

13,922.0

8,804.0

6,205.9

R&D Expense, Supplemental

21,550.0

20,345.0

21,908.0

22,834.3

20,920.9

Advertising Expense

245,802.0

219,332.0

198,861.0

172,050.4

171,069.7

Depreciation

147,673.0

151,884.0

151,151.0

150,867.2

132,571.2

Amort of Intangibles

1,324.0

1,492.0

2,034.0

1,557.3

4,513.2

Amortization of Acquisition Costs

-

-

-

2,970.0

2,970.0

 

Annual Balance Sheet

Financials in: KRW (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and CashEquivalents

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

    Other Financial Assets, current

15,272.8

925.8

1,717.1

-

-

    ST Finl Assets

-

-

-

1,000.0

1,000.0

    ST Secs for Sale

1,000.0

1,956.8

2,148.6

91.9

555.0

    Trade Rcvb Gross

543,789.0

529,532.0

558,568.0

381,223.9

394,335.0

    Doubtful Account

-6,875.0

-8,035.0

-7,869.0

-11,419.6

-39,306.0

    ST Loans Shrhldr

19,300.0

24,031.0

28,036.0

19,503.8

19,254.8

    ST Loan, Net

898.0

1,242.0

1,073.0

1,094.4

99,646.7

    Other Rcvbls

69,027.0

55,663.0

55,154.0

34,054.8

25,517.2

    Doubtful Account-Account Rcvbls

-1,934.0

-2,202.0

-1,706.0

-

-

    Trade Guarantee

-

0.0

0.0

-

122.4

    Accrued Income

2,204.0

573.0

384.0

326.5

242.3

    Adjustment

-0.2

-0.4

-0.2

-

-

    Advance Payments

41,544.0

43,614.4

30,988.6

23,715.6

30,292.1

    Prepaid Expenses Total

22,361.2

11,805.1

3,700.6

9,374.7

7,025.8

    Receivable-Recovery of Taxes

-

-

-

34.2

395.7

    Prepaid Taxes on Cigarette Consumption

177,043.1

169,440.4

201,773.9

-

-

    Fixed Assets Reduction Provision

-

46,152.2

22,906.5

-

-

    Deferred Income Tax, Current Assets

-

-

-

17,604.5

8,225.9

    Merchandises

7,914.0

2,623.0

793.0

1,107.5

1,439.6

    Finished Goods

238,009.0

207,308.0

183,668.0

134,163.8

136,230.7

    Work in Progress

312,920.0

318,780.0

296,072.0

259,058.7

218,190.3

    Raw Materials

869,053.0

878,360.0

842,193.0

804,740.6

878,729.1

    Stored Goods

25,941.0

25,256.0

23,269.0

21,855.8

19,751.1

    Residual Products

7,542.0

5,650.0

3,242.0

2,640.9

4,267.1

    Finished Housing

-

53,816.0

0.0

-

-

    Unfinished Housing

381.0

0.0

182,059.0

-

-

    CA Land

9,449.0

0.0

17,613.0

13,204.0

11,570.9

    Goods in Transit

25,825.0

17,286.0

9,976.0

8,064.6

12,949.5

    Adjustment

-0.4

-0.2

-0.1

-

-

    Semi-finish Good

-

-

-

20,170.3

13,328.5

    Assistance Mat.

-

-

-

548.0

567.2

    Unsold Comm Prop

-

-

-

52,150.4

2,744.7

Total Current Assets

3,361,977.3

2,700,448.8

2,566,005.0

1,931,996.5

2,048,944.7

 

 

 

 

 

 

    LT Finl Assets

646.3

286.3

6.3

43.7

43.8

    Investment in Properties

121,482.7

104,115.5

107,330.7

-

-

    Financial Assets Available for Sale

314,176.7

442,083.0

302,121.2

257,097.6

71,156.2

    LT Trade Receivable

114,539.5

130,046.6

138,379.1

84.7

-

    LT Account Receivable

-

-

-

1,017.4

-

    LT Interest Rcvb

-

-

-

-

26.5

    Equity Method Securities

1,596.5

1,584.4

1,270.2

35,969.1

1,111.0

    LT Loans

-

-

-

2,771.8

2,013.7

    Other Investment Assets

-

-

-

2,577.7

25,317.2

    LT Security Deposit

-

-

-

51,162.1

42,265.0

    LT Deposits

-

-

-

-

1,003.2

    Long-Term Prepaid Expenses

6,280.7

6,411.2

6,282.3

-

-

    LT Loans Shrhldr

-

-

-

96,167.8

61,407.7

    Long-term Advance Payments

138,895.7

133,361.9

118,240.3

96,492.8

81,745.9

    LT Affiliat Loan

-

-

-

238.4

1,487.5

    LT Deposit Withheld

132,413.6

118,121.4

110,261.1

66,632.5

45,611.0

    Land

436,950.0

437,143.0

436,527.0

431,727.8

381,943.7

    Buildings

761,383.0

699,249.0

673,719.0

735,932.4

689,849.3

    Buildings Depre.

-265,030.0

-236,698.0

-210,289.0

-212,194.2

-189,704.0

    Buildings-Reduction

-

-

-

-36.1

-198.1

    Structures

64,264.0

59,717.0

59,697.0

56,482.8

54,101.2

    Structure Depre.

-32,217.0

-30,234.0

-28,216.0

-27,250.2

-25,537.2

    Structures-Reduction

-

-

-

-4.5

-6.7

    Machinery/Equip.

994,532.0

968,088.0

954,593.0

892,064.1

804,969.3

    Mach/Equip Depre

-613,152.0

-574,301.0

-530,235.0

-500,275.9

-435,208.2

    Machinery & Equipment-Reduction

-

-

-

-1,085.0

-

    Transport Equip.

8,903.0

13,001.0

17,445.0

19,035.4

20,906.0

    Transport Deprec

-7,114.0

-11,490.0

-14,864.0

-15,681.5

-15,034.4

    Tools/Equipments

46,069.0

45,837.0

47,936.0

42,050.2

35,745.2

    Tool/Equip Depr.

-33,903.0

-33,716.0

-32,795.0

-28,721.6

-24,222.1

    Tools & Equipments, Reduction

-

-

-

-0.2

-

    Fixtures

192,459.0

225,148.0

195,523.0

207,008.9

167,206.3

    Deprec. Fixtures

-132,444.0

-160,273.0

-122,914.0

-124,560.7

-87,278.3

    Other Tangible Assets

749.0

744.0

744.0

744.2

605.0

    Construct in Pro

89,389.0

69,340.0

57,120.0

85,147.2

84,606.9

    Construction in Progress-Reduction

-

-

-

-1,093.9

-

    Adjustment

-0.1

0.2

-0.4

-

-

    Deferred Income Taxes Assets Non-current

11,066.9

8,169.1

7,108.7

1,764.7

-

    Indust.-Patent

2,049.0

1,481.0

1,847.0

2,223.8

3,713.7

    Usage Right-Facility

24,189.0

20,750.0

19,964.0

-

-

    Other Intangible

4,194.0

2,981.0

2,951.0

2,428.0

1,557.5

    Intangible Assets-under Development

32,713.0

30,488.0

27,172.0

-

-

    Adjustment

0.2

-0.1

-0.1

-

-

    Goodwill

-

-

-

4,007.4

6,977.2

    Membership Right

-

-

-

22,137.0

-

Total Assets

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

    Accounts Payable

-

-

-

105,692.9

30,548.0

    Trade Acct. Pay.

301,211.2

326,598.2

455,332.6

15,201.8

14,896.3

    Inc. Taxes Pay.

222,932.3

128,418.8

187,609.9

220,427.5

135,654.4

    Accrd Cigaret Tx

324,857.0

350,049.8

370,196.9

181,734.2

55,387.9

    Accrued Expenses

-

-

-

17,342.8

10,518.9

    Advance for Customers

9,334.7

23,516.0

71,708.0

6,126.8

7,998.5

    Unearned Income

-

-

-

89.0

418.3

    Deposit Withheld

-

-

-

11,763.1

15,718.0

    Security Deposit Withheld

-

-

-

102.2

212.2

    VAT Withheld

-

-

-

128,985.5

128,948.0

    Reserve Liability

-

-

-

5,108.0

2,034.7

    Derivatives in Liabilities, Current

-

-

2,698.5

24.5

-

    Current Portion of LT Debt

505.6

447.9

280.4

210.3

-

    Short-term Borrowings

66,507.2

94,532.5

104,113.1

38,097.2

80,785.5

Total Current Liabilities

925,348.0

923,563.2

1,191,939.4

730,905.8

483,120.8

 

 

 

 

 

 

    Long Term Borrowings

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

 

 

 

 

 

 

    Long-term Trade Payables

22,880.4

23,028.1

23,580.4

-

-

    Long-term Advances from Customers

10,935.1

10,215.4

8,385.7

-

-

    LT Guaranteed Liabilities

48,324.2

35,445.4

73,993.6

-

-

    Rental Secur Dep

-

-

-

24,938.4

27,460.4

    LT Deposit Withheld

-

-

-

112.4

64.5

    Deferred Income Taxes Liabilities Non-cu

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

    Reserve-Lawsuit

-

-

-

364.0

-

    Reserve Liability-Sales Return

-

-

-

894.1

1,796.9

    LT Reserve

2,219.8

2,256.4

1,957.0

-

-

    Tobacco Stabil R

-

-

-

-

74,483.6

    Retire Reserve

-

-

-

86,392.5

99,506.4

    Minority Interest

42,130.0

27,112.2

27,563.8

20,117.4

20,218.5

Total Liabilities

1,220,879.7

1,190,992.2

1,436,656.3

990,992.1

811,581.3

 

 

 

 

 

 

    Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

    Other Capital Surplus

5,332.7

5,320.5

2,869.3

465,866.0

335,349.6

    Treasury Stock

-216,827.0

-226,944.7

-226,944.7

-414,947.3

-321,903.9

    Gains on Sale of Treasury Stock

482,128.5

468,274.4

468,274.4

-

-

    Reserves

2,179,227.1

2,075,268.8

1,825,708.4

-

-

    Retained Earning Carried Forward

1,151,358.6

704,012.5

451,406.4

2,134,736.0

2,061,348.6

    G-Sec for Sale V

-

-

-

2,100.2

15,929.3

    G-Inv. Secs. Under Equity Method Valu.

-

-

-

1,034.8

1,009.0

    Overseas Business Translation Credit

-

-

-

-639.2

-1,147.5

Total Equity

4,556,179.4

3,980,891.0

3,476,273.2

3,143,110.0

3,045,544.5

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

    S/O-Common Stock

127.6

127.2

128.7

130.8

133.2

Total Common Shares Outstanding

127.6

127.2

128.7

130.8

133.2

T/S-Common Stock

9.6

10.1

10.1

12.6

14.2

Deferred Revenue, Current

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

Accu. Intangible Amort&Impair, Supple.

20,105.0

15,217.0

-

-

-

Full-Time Employees

4,214

4,653

4,750

4,367

4,317

Number of Common Shareholders

104,382

132,863

105,512

107,629

120,524

Long Term Debt Maturing within 1 Year

505.6

447.9

280.0

210.0

-

Long Term Debt Maturing within 2 Years

-

-

448.0

280.0

195.0

Long Term Debt Maturing within 3 Years

-

-

504.0

446.0

259.0

Long Term Debt Maturing within 4 Years

-

-

504.0

501.0

259.0

Long Term Debt Remaining Maturities

-

-

1,018.0

1,506.0

689.0

Total Long Term Debt, Supplemental

505.6

447.9

2,754.0

2,943.0

1,402.0

 

 

Annual Cash Flows

Financials in: KRW (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

1,030,789.0

850,094.0

1,063,379.1

646,405.1

648,930.0

    Depreciation

147,673.0

151,884.0

-

150,867.2

132,571.2

    Corporate Tax

374,886.0

311,784.0

-

-

-

    Financial Expense

4,469.0

6,526.0

-

-

-

    Financial Income

-270,338.0

-12,853.0

-

-

-

    Amort. Intangible

1,324.0

1,492.0

-

4,527.3

4,513.2

    Amort-Bad Debt Exp.

-

-

-

7,241.9

3,849.6

    Donations

-

-

-

0.1

-

    Amort-Other Bad Debt

-

-

-

1,218.9

2,331.9

    Retirement Allowance

86,939.0

41,541.0

-

40,335.5

59,371.9

    Loss-Valuation of Derivatives

-

-

-

24.5

-

    L-Sec for Sale Disposal

-

-

-

723.6

427.5

    L-Sec for Sale Redct

-

-

-

2,163.1

2,363.8

    L-For Exch Translatn

5,755.0

17,708.0

-

219.4

3,435.3

    Loss-Disposal of Trade Receivable

-

-

-

483.2

-

    L-Inventory Scrapping

-

-

-

814.2

257.3

    Loss on Valuation of Inventory

164.0

-

-

38,221.6

23,578.8

    Loss Redu.of Trade Receivable&Other Rece

473.0

720.0

-

-

-

    Disp Tang Asst Loss

2,386.0

7,496.0

-

4,845.4

7,591.0

    L-Tang Asset Redct

-

657.0

-

-

-

    Loss-Reduction of Intangible Assets

-

647.0

-

1,065.8

-

    Loss on Sale of Intangible Assets

159.0

-

-

-

-

    Loss Reduction of Intangible Assets

3,681.0

-

-

-

-

    Loss-Reduction of Tangible Assets

-

-

-

2,179.1

204.8

    Loss Reduction of Investment Properties

1,437.0

-

-

-

-

    Other Expense

7,237.0

4,154.0

-

-

-

    Transfer-Resrve Installment

-

-

-

3,737.1

2,034.7

    Provision for Litigation Loss

-

-

-

364.0

-

    Transfr-Tobacco Fund

-

-

-

35,516.4

18,730.2

    Loss-Prior Period Error Correction

-

-

-

20,958.9

-

    Stock Compensation Expense

-

-

-

348.7

-

    Miscellaneous Loss

-

-

-

26.5

52.6

    Gain on Sec Sales

-

-

-

-10,840.0

-1,790.2

    Loss-Disposal of Other Fixed Assets

-

-

-

-141.2

-

    Gain Disp Tang. Ast

-101,886.0

-17,033.0

-

-10,237.1

-8,348.8

    Gain on Sale of Intangible Assets

-24.0

-

-

-

-

    Gain under Equity Method

-

-

-

-1,187.8

-789.7

    Gain-Disposal of Sec. under Equity Mtd.

-300.0

-

-

-

-17,428.3

    Gain-Valu. of Securities Avail-for-Sale

-

-

-

-11.4

-

    Reversal Prov. Doubt

-

-

-

-1,913.4

-28,720.0

    Recovery-Loss Reduct.of Trade Recei

-216.0

-46.0

-

-

-

    Recovery-Inventory Valuation Loss

-

-3,807.0

-

-35,001.3

-11,779.5

    G-For Curr Transactn

-

-

-

-2,621.2

-59.1

    Gain on Foreign Currency Translation

-1,717.0

-1,184.0

-

-

-

    Interest Income

-

-

-

-11,416.4

-11,760.4

    Accrued LT Interest

-

-

-

-

-48.2

    Gain-Convertible Bonds Conversion

-

-

-

-

-1,875.9

    Loss-Minority Interest

-

-

-

-

-2,942.1

    Miscellaneous Gain

-

-94.0

-

-29.8

-

    Inventories

14,122.0

48,067.0

-

-18,927.1

44,252.5

    Trade Receivables

-51,650.0

17,697.0

-

-36,651.8

-22,025.8

    Accrued Income

-

-

-

-84.2

4,418.4

    Account Receivables

-

-

-

-10,222.4

4,290.0

    Prepaid Expenses

-2,143.0

-3,595.0

-

-3,626.3

-836.4

    Advance Payments

-3,599.0

-28,083.0

-

29,367.8

16,270.9

    LT Advance Payment

-

-

-

-37,174.4

-7,326.2

    Corporate Tax Refundable

-7,603.0

32,333.0

-

360.4

-1,882.6

    Trade Guarantee

-

-

-

122.4

-69.7

    Deferred Taxes-Asset

-

-

-

-8,945.6

3,042.7

    Trade Payables

-23,947.0

-122,072.0

-

-7,786.2

-30,423.7

    Account Payables

-

-

-

74,349.0

11,482.1

    Accrued Expenses

-

-

-

11,288.7

-21,059.9

    Accrued Inc Tax

-

-

-

35,909.3

56,551.1

    Tobacco Fund

-

-

-

-110,000.0

-

    Decrease-Reserve

-

-

-

-661.8

-

    Accrued Cigarette Consumption Taxes

-25,193.0

-20,147.0

-

126,346.3

36,463.1

    Unearned Income

-

-

-

-929.8

-373.8

    LT Account Payable

-

-

-

-

-40.0

    Advances Received

-13,257.0

-46,045.0

-

-1,768.2

4,292.9

    Deposits Withheld

-

-

-

-4,790.9

-9,268.3

    Security Deposit Withheld

-

-

-

-110.0

-

    VAT Withheld

-

-

-

37.5

-12,198.1

    Nation Pension Fnd

-

-

-

182.9

-10.7

    Retiremt Allow Paymt

-81,201.0

-54,184.0

-

-21,517.6

-13,465.9

    Retirement Insurance

-

-

-

-23,790.4

-21,154.1

    Deferred Income Tax Credit, A/L

-

-

-

24,512.6

6,971.6

    Reserve for Returned Goods

-

-

-

-298.2

876.3

    Oversea Op Translatn

-

-

-

21.0

-431.3

    Taxes Paid

-253,596.2

-352,728.7

-365,569.5

-

-

    Gain on Equity Method Securities

-

-6.0

-

-

-

    Loss on Equity Method Securities

287.0

191.0

-

-

-

    Operating Activities, Adjustment

0.5

-0.4

-

-

-

Cash from Operating Activities

845,111.2

831,112.9

697,809.6

904,100.8

873,046.7

 

 

 

 

 

 

    Dec-ST Finl Assets

-

-

-

11,940.0

240,000.0

    Decrease-LT Financial Assets

-

-

-

19.2

33.3

    Decrease-Loans

47,795.8

25,671.0

29,162.2

-

-

    Interest Received

20,547.2

10,720.7

17,453.0

-

-

    Decrease-ST Loans

-

-

-

1,315.2

-

    Decrease-LT Loans

-

-

-

246.9

-

    Received-Gain on LT Deposit Investment

1,243.8

-

-

-

-

    Decrease-Current Portion of LT Loans

-

-

-

111,459.0

3,095.4

    Dec-Secs for Sale

-

-

-

2,005.0

9,707.6

    Proceeds from Sale of Equity Method Secu

-

1.1

-

-

40,147.6

    Dividend Income, IP

2,056.4

215.3

3,458.2

-

-

    Decrease in Deposits Provided

39,793.2

17,307.9

12,275.4

20,055.8

23,777.0

    Proceeds from Sale of Available for sale

265,677.8

2,346.4

348.7

-

-

    Dec. Other Inv Asset

-

-

-

106.6

96.7

    Disposal of Non-Current Assets Held for

100,830.4

-

-

-

-

    Proceeds from Sale of Property Plant and

35,725.7

18,637.6

23,107.4

-

-

    Disposal of Subsidiary Investment

-

-

281.5

-

-

    Disposal of Land

-

-

-

22,111.4

10,627.8

    Disposal of Building

-

-

-

2,496.0

10,140.0

    Disposal Structure

-

-

-

48.8

76.3

    Disposal Mach./Equip

-

-

-

1,153.9

291.9

    Disposal Trans Equip

-

-

-

838.3

415.1

    Disp Tools/Supplies

-

-

-

35.1

105.7

    Disp-Fixtures

-

-

-

112.3

58.2

    Decrease-Membership Right

-

-

-

204.5

-

    Decrease-Intangible Assets

1,016.1

63.9

35.5

-

20.1

    Increase-ST Loans

-

-

-

-1,787.1

-

    Inc-LT Finl Assets

-

-

-

-19.2

-12.7

    Increase-Loans

-16,022.6

-10,403.2

-22,607.4

-

-

    Increase in LT Loans

-

-

-

-11,123.7

-1,126.8

    Inc LT Shrhldr Loans

-

-

-

-

-5,541.1

    Increase in Deposits Provided

-49,004.0

-20,187.2

-18,401.2

-24,375.9

-25,154.9

    Increase-LT Deposit

-13,625.2

-18,054.9

-17,895.0

-20,415.0

-19,840.8

    Purchase of Derivatives Assets

-

-4,409.8

-6,319.7

-

-

    Purchase of Available for sale Securitie

-39,923.4

-11,995.5

-19,098.8

-242,324.2

-8,263.6

    Purchase of Equity Method Securities

-

-500.0

-500.0

-

-

    Inc Other Invt Ast

-

-

-

-2,774.3

-2,735.1

    Purchase of Investment Properties

-

-323.4

-222.1

-

-

    Purchase of Property, Plant and Equipmen

-211,635.8

-152,247.8

-205,649.4

-

-

    Acquisition of Land

-

-

-

-22,265.6

-21,645.2

    Acquis. of Building

-

-

-

-7,683.4

-14,349.4

    Purch. of Structure

-

-

-

-1,822.3

-1,311.9

    Purch. of Mach/Equip

-

-

-

-12,262.5

-9,132.1

    Acq. of Trans Equip

-

-

-

-763.2

-639.1

    Acq. in Tools/Suppl.

-

-

-

-2,940.0

-2,460.8

    Acquis. of Supplies

-

-

-

-37,130.1

-34,241.8

    Acq. Const. In Prog

-

-

-

-186,138.2

-201,169.4

    Inc-Other Tangible Assets

-

-

-

-139.1

-45.5

    Purchase of Intangible Assets

-13,606.3

-5,892.2

-6,382.3

-

-

    Deduction from Other Investing Activitie

-16,517.0

654.5

-665.9

-

-

    Increase-Membership Right

-

-

-

-698.0

-

    Acq Intangible Asset

-

-

-

-1,709.9

-931.8

Cash from Investing Activities

154,352.0

-148,395.6

-211,619.9

-402,223.7

-10,009.2

 

 

 

 

 

 

    Interest Paid

-2,717.1

-4,976.3

-4,254.7

-

-

    Payments in Dividends

-356,156.6

-360,356.6

-340,449.2

-319,712.0

-249,702.7

    Proceeds from Short-term Borrowings

45,832.3

75,261.6

80,905.0

183,977.9

140,192.2

    Increase-LT Borrowings

-

-

22.0

1,541.0

105.0

    Disposal-Treasury Stock

28,395.0

-

-

235,232.8

76,767.5

    Inc Lease Guarantee

5,633.4

2,953.2

4,375.6

7,931.4

9,500.0

    Capital Increase

16,688.1

-

-

17,870.5

-

    Repayments of Short-term Borrowings

-62,941.3

-83,227.1

-64,735.9

-226,662.3

-125,527.3

    Repayments of Long-term Borrowings

-429.1

-280.4

-210.3

-

-

    Decrease-Lease Guarantee Deposit

-6,968.5

-3,592.5

-5,898.3

-10,731.2

-8,164.7

    Purchase of Treasury Stock

-

-103,998.9

-194,128.1

-455,034.7

-857,777.5

    Changes-Consolidation Scope

-

-

-

-887.5

-

    Cash Inflow-Merger

-

-

-

415.0

-

    Cash Flow Due to Consolidation

-

-

-

-

4,530.5

Cash from Financing Activities

-332,664.0

-478,217.1

-524,374.0

-566,059.2

-1,010,077.0

 

 

 

 

 

 

Foreign Exchange Effects

-2,157.3

1,926.6

2,211.3

-

-

Net Change in Cash

664,642.0

206,426.9

-35,973.0

-64,182.1

-147,039.5

 

 

 

 

 

 

Cash and Cash Equivalent at Beginning

316,671.8

110,244.9

146,217.9

201,869.2

348,908.7

Cash and Cash Equivalent at End

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

    Cash Interest Paid

2,717.1

4,976.3

4,254.7

-

-

    Cash Taxes Paid

253,596.2

352,728.7

365,569.5

-

-

 

 

Financial Health

 

Financials in: REP (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators REP (mil)

 

Quarter
Ending
30-Sep-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

1,045,870.7

10.90%

3,461,418.4

-4.55%

4.35%

5.53%

Research & Development1

-

-

21,550.0

5.92%

-1.91%

5.04%

Operating Income1

374,879.3

19.16%

1,140,094.1

-1.35%

5.37%

7.42%

Income Available to Common Excl Extraord Items1

282,671.3

20.06%

1,031,823.4

21.24%

15.91%

14.78%

Basic EPS Excl Extraord Items1

2,249.38

21.52%

8,108.52

22.30%

17.46%

18.23%

Capital Expenditures2

220,331.6

35.61%

225,242.1

42.14%

-6.27%

4.64%

Cash from Operating Activities2

742,252.1

2.81%

845,111.2

1.68%

-2.22%

9.70%

Free Cash Flow

521,920.5

-6.71%

619,869.1

-7.85%

-0.57%

11.96%

Total Assets3

6,049,920.8

8.39%

5,777,059.1

11.70%

11.80%

7.01%

Total Liabilities3

1,365,431.9

11.27%

1,220,879.7

2.51%

7.20%

12.80%

Total Long Term Debt3

4,852.9

716.88%

1,539.6

-24.02%

-17.41%

3.49%

Employees3

-

-

4214

-9.43%

-1.18%

-0.72%

Total Common Shares Outstanding3

125.6

-1.22%

127.6

0.35%

-0.82%

-2.77%

1-ExchangeRate: KRW to REP Average for Period

1.000000

 

1.000000

 

 

 

2-ExchangeRate: KRW to REP Average for Period

1.000000

 

1.000000

 

 

 

3-ExchangeRate: KRW to REP Period End Date

1.000000

 

1.000000

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Gross Margin

58.20%

57.17%

60.37%

100.00%

100.00%

Operating Margin

32.94%

31.87%

37.37%

31.99%

30.35%

Pretax Margin

40.61%

32.04%

37.59%

30.78%

31.53%

Net Profit Margin

29.81%

23.47%

27.10%

21.75%

23.04%

Financial Strength

Current Ratio

3.63

2.92

2.15

2.64

4.24

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.02

0.02

0.03

0.01

0.03

Management Effectiveness

Return on Assets

18.83%

16.86%

19.79%

16.18%

16.20%

Return on Equity

24.17%

22.83%

27.13%

21.41%

19.99%

Efficiency

Receivables Turnover

5.64

5.88

6.26

6.59

6.52

Inventory Turnover

0.94

0.99

0.90

-

-

Asset Turnover

0.63

0.72

0.73

0.76

0.71

Market Valuation REP (mil)

P/E (TTM)

11.06

.

Enterprise Value2

9,294,187.0

Price/Sales (TTM)

2.77

.

Enterprise Value/Revenue (TTM)

2.55

Price/Book (MRQ)

1.98

.

Enterprise Value/EBITDA (TTM)

7.26

Market Cap as of 20-Jan-20121

10,118,460.0

.

 

 

1-ExchangeRate: KRW to REP on 20-Jan-2012

1.000000

 

 

 

2-ExchangeRate: KRW to REP on 30-Sep-2011

1.000000

 

 

 

 

 

 

Annual Ratios

 

Financials in: REP (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

Financial Strength

Current Ratio

3.63

2.92

2.15

2.64

4.24

Quick/Acid Test Ratio

1.76

1.05

0.65

0.77

1.46

Working Capital

2,436,629.3

1,776,885.6

1,374,065.6

1,201,090.7

1,565,824.0

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.02

0.02

0.03

0.01

0.03

Long Term Debt/Total Capital

0.00

0.00

0.00

0.00

0.00

Total Debt/Total Capital

0.01

0.02

0.03

0.01

0.03

Payout Ratio

37.00%

42.23%

40.59%

51.97%

52.14%

Effective Tax Rate

26.67%

26.83%

28.11%

31.07%

27.26%

Total Capital

4,624,731.9

4,077,897.8

3,583,141.0

3,184,252.5

3,127,944.3

 

 

 

 

 

 

Efficiency

Asset Turnover

0.63

0.72

0.73

0.76

0.71

Inventory Turnover

0.94

0.99

0.90

-

-

Days In Inventory

389.96

369.23

407.58

-

-

Receivables Turnover

5.64

5.88

6.26

6.59

6.52

Days Receivables Outstanding

64.70

62.12

58.32

55.38

56.02

Revenue/Employee

821,409,201

779,358,052

697,330,351

697,591,990

652,332,035

Operating Income/Employee

270,549,148

248,385,002

260,611,470

223,178,687

197,974,116

EBITDA/Employee

305,906,765

281,347,822

292,860,944

258,082,392

229,728,660

 

 

 

 

 

 

Profitability

Gross Margin

58.20%

57.17%

60.37%

100.00%

100.00%

Operating Margin

32.94%

31.87%

37.37%

31.99%

30.35%

EBITDA Margin

37.24%

36.10%

42.00%

37.00%

35.22%

EBIT Margin

32.94%

31.87%

37.37%

31.99%

30.35%

Pretax Margin

40.61%

32.04%

37.59%

30.78%

31.53%

Net Profit Margin

29.81%

23.47%

27.10%

21.75%

23.04%

R&D Expense/Revenue

0.62%

0.56%

-

0.75%

0.74%

COGS/Revenue

41.80%

42.83%

39.63%

-

-

SG&A Expense/Revenue

24.85%

21.80%

25.08%

21.95%

22.55%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

18.83%

16.86%

19.79%

16.18%

16.20%

Return on Equity

24.17%

22.83%

27.13%

21.41%

19.99%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share

4,856.05

5,288.18

3,772.81

4,819.24

4,407.37

Operating Cash Flow/Share

6,620.60

6,533.97

5,422.04

6,909.98

6,553.75

 

Current Market Multiples

Market Cap/Earnings (TTM)

12.08

Market Cap/Equity (MRQ)

2.16

Market Cap/Revenue (TTM)

2.77

Market Cap/EBIT (TTM)

8.99

Market Cap/EBITDA (TTM)

7.91

Enterprise Value/Earnings (TTM)

11.10

Enterprise Value/Equity (MRQ)

1.98

Enterprise Value/Revenue (TTM)

2.55

Enterprise Value/EBIT (TTM)

8.25

Enterprise Value/EBITDA (TTM)

7.26

 

 

 

 

Annual Income Statement

Standardized

 

Financials in: REP (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

Total Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

 

 

 

 

 

 

    Cost of Revenue

1,446,708.4

1,553,264.1

1,312,531.6

-

-

Cost of Revenue, Total

1,446,708.4

1,553,264.1

1,312,531.6

-

-

Gross Profit

2,014,710.0

2,073,089.0

1,999,787.5

3,046,384.2

2,816,117.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

279,526.7

254,185.8

809,681.3

218,676.3

197,138.4

    Labor & Related Expense

334,975.2

317,197.0

21,000.0

277,951.4

266,945.9

    Advertising Expense

245,802.0

219,332.0

-

172,050.4

171,069.7

Total Selling/General/Administrative Expenses

860,303.9

790,714.8

830,681.3

668,678.1

635,154.0

Research & Development

21,550.0

20,345.0

-

22,834.3

20,920.9

    Depreciation

47,704.0

53,118.0

-

56,243.1

49,104.2

    Amortization of Intangibles

1,219.0

1,378.0

-

4,508.4

4,494.3

Depreciation/Amortization

48,923.0

54,496.0

-

60,751.5

53,598.5

        Investment Income - Operating

11,146.0

28,321.0

-

-

-

    Interest/Investment Income - Operating

11,146.0

28,321.0

-

-

-

Interest Expense (Income) - Net Operating Total

11,146.0

28,321.0

-

-

-

    Impairment-Assets Held for Use

-

-

-

3,244.9

204.8

    Impairment-Assets Held for Sale

-

-

-

2,163.1

2,363.8

    Loss (Gain) on Sale of Assets - Operating

-93,114.0

-5,383.0

-

-

-

    Other Unusual Expense (Income)

2,769.0

1,669.0

-

6.5

3.0

Unusual Expense (Income)

-90,345.0

-3,714.0

-

5,414.5

2,571.6

    Other Operating Expense

5,721.4

6,917.8

50,061.2

1,055.2

1,089.2

    Other, Net

17,316.6

20,272.9

-118,859.4

1,313,029.3

1,248,129.0

Other Operating Expenses, Total

23,038.0

27,190.8

-68,798.2

1,314,084.5

1,249,218.2

Total Operating Expense

2,321,324.3

2,470,617.6

2,074,414.7

2,071,762.9

1,961,463.1

 

 

 

 

 

 

Operating Income

1,140,094.1

1,155,735.4

1,237,904.5

974,621.3

854,654.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-3,255.0

-4,815.0

-13,711.2

-4,501.7

-3,856.3

    Interest Expense, Net Non-Operating

-3,255.0

-4,815.0

-13,711.2

-4,501.7

-3,856.3

        Interest Income - Non-Operating

-

-

21,251.7

41,497.0

43,276.1

        Investment Income - Non-Operating

245,294.8

-1,094.6

-317.5

13,740.5

10,877.6

    Interest/Investment Income - Non-Operating

245,294.8

-1,094.6

20,934.2

55,237.5

54,153.7

    Interest Income (Expense) - Net Non-Operating

23,541.0

12,052.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

265,580.8

6,142.4

7,223.0

50,735.8

50,297.4

Gain (Loss) on Sale of Assets

-

-

-

4,718.7

500.5

    Other Non-Operating Income (Expense)

-

0.3

-

-92,277.1

-17,397.8

Other, Net

-

0.3

-

-92,277.1

-17,397.8

Income Before Tax

1,405,674.9

1,161,878.1

1,245,127.5

937,798.8

888,054.5

 

 

 

 

 

 

Total Income Tax

374,886.3

311,783.7

349,998.9

291,393.7

242,066.6

Income After Tax

1,030,788.6

850,094.3

895,128.6

646,405.1

645,987.8

 

 

 

 

 

 

    Minority Interest

1,034.8

996.3

2,648.5

16,200.6

2,942.1

Net Income Before Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Basic EPS Excl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Basic/Primary EPS Incl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Diluted Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Diluted EPS Excl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted EPS Incl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Dividends per Share - Common Stock Primary Issue

3,000.00

2,800.00

2,800.00

2,600.00

2,400.00

Gross Dividends - Common Stock

382,946.0

356,157.0

360,357.0

340,449.0

319,712.0

Interest Expense, Supplemental

4,469.1

4,815.0

4,714.0

4,501.7

3,856.3

Depreciation, Supplemental

147,673.0

151,884.0

151,151.0

150,867.2

132,571.2

Total Special Items

-90,345.0

-3,714.0

-

3,665.8

5,041.0

Normalized Income Before Tax

1,315,329.9

1,158,164.1

1,245,127.5

941,464.6

893,095.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-24,094.5

-996.6

-

216.2

564.5

Inc Tax Ex Impact of Sp Items

350,791.7

310,787.1

349,998.9

291,609.9

242,631.2

Normalized Income After Tax

964,538.2

847,377.0

895,128.6

649,854.7

650,464.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

965,572.9

848,373.3

897,777.0

666,055.2

653,406.5

 

 

 

 

 

 

Basic Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Diluted Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Amort of Acquisition Costs, Supplemental

-

-

-

2,970.0

2,970.0

Amort of Intangibles, Supplemental

1,324.0

1,492.0

2,034.0

1,557.3

4,513.2

Rental Expenses

21,061.0

18,049.0

13,922.0

8,804.0

6,205.9

Advertising Expense, Supplemental

245,802.0

219,332.0

198,861.0

172,050.4

171,069.7

Research & Development Exp, Supplemental

21,550.0

20,345.0

21,908.0

22,834.3

20,920.9

Normalized EBIT

1,060,895.1

1,180,342.4

1,237,904.5

980,035.8

857,225.8

Normalized EBITDA

1,209,892.1

1,333,718.4

1,391,089.5

1,135,430.3

997,280.2

 Interim Income Statement

Standardized

 

Financials in: REP (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Reclassified Calculated 
30-Jun-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

 

 

 

 

 

 

    Net Sales

1,045,870.7

898,595.5

824,444.9

882,252.4

943,044.3

Revenue

1,045,870.7

898,595.5

824,444.9

882,252.4

943,044.3

Total Revenue

1,045,870.7

898,595.5

824,444.9

882,252.4

943,044.3

 

 

 

 

 

 

    Cost of Revenue

453,867.4

380,427.7

346,800.7

375,393.2

391,639.1

Cost of Revenue, Total

453,867.4

380,427.7

346,800.7

375,393.2

391,639.1

Gross Profit

592,003.2

518,167.8

477,644.2

506,859.1

551,405.2

 

 

 

 

 

 

    Selling/General/Administrative Expense

267,077.7

224,964.2

217,839.8

80,197.8

69,969.5

    Labor & Related Expense

-

-

-

94,811.0

77,143.2

    Advertising Expense

-

-

-

106,824.0

45,416.0

Total Selling/General/Administrative Expenses

267,077.7

224,964.2

217,839.8

281,832.8

192,528.7

Research & Development

-

-

-

7,366.0

4,613.0

    Depreciation

-

-

-

11,638.0

11,886.0

    Amortization of Intangibles

-

-

-

320.0

331.0

Depreciation/Amortization

-

-

-

11,958.0

12,217.0

        Investment Income - Operating

-

-

-

830.0

27,802.0

    Interest/Investment Income - Operating

-

-

-

830.0

27,802.0

Interest Expense (Income) - Net Operating Total

-

-

-

830.0

27,802.0

    Loss (Gain) on Sale of Assets - Operating

-

-

-

-30,305.0

-661.0

Unusual Expense (Income)

-

-

-

-30,305.0

-661.0

    Other Operating Expense

18,980.5

22,141.7

22,550.9

-2,527.6

66.4

    Other, Net

-68,934.3

-10,357.1

-12,142.1

18,175.0

247.0

Other Operating Expenses, Total

-49,953.8

11,784.6

10,408.8

15,647.4

313.4

Total Operating Expense

670,991.3

617,176.5

575,049.3

662,722.4

628,452.2

 

 

 

 

 

 

Operating Income

374,879.3

281,419.0

249,395.6

219,529.9

314,592.1

 

 

 

 

 

 

        Interest Expense - Non-Operating

-1,433.3

-1,157.4

-4,665.6

-589.4

-997.0

    Interest Expense, Net Non-Operating

-1,433.3

-1,157.4

-4,665.6

-589.4

-997.0

        Interest Income - Non-Operating

-

-

-

8,213.0

7,041.0

        Investment Income - Non-Operating

16,701.8

11,288.9

12,625.5

-2,990.9

969.3

    Interest/Investment Income - Non-Operating

16,701.8

11,288.9

12,625.5

5,222.1

8,010.3

Interest Income (Expense) - Net Non-Operating Total

15,268.5

10,131.5

7,959.8

4,632.7

7,013.3

    Other Non-Operating Income (Expense)

-

-

-

0.2

-0.5

Other, Net

-

-

-

0.2

-0.5

Income Before Tax

390,147.8

291,550.5

257,355.5

224,162.8

321,604.8

 

 

 

 

 

 

Total Income Tax

108,366.8

76,260.0

74,242.4

59,690.5

85,738.1

Income After Tax

281,780.9

215,290.6

183,113.0

164,472.3

235,866.8

 

 

 

 

 

 

    Minority Interest

890.4

-243.1

-715.5

566.1

-426.2

Net Income Before Extraord Items

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

Net Income

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

125.7

127.1

127.6

127.4

127.2

Basic EPS Excl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Basic/Primary EPS Incl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Diluted Net Income

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

Diluted Weighted Average Shares

125.7

127.1

127.6

127.4

127.2

Diluted EPS Excl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Diluted EPS Incl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

3,000.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

382,946.0

0.0

Interest Expense, Supplemental

1,433.0

1,157.4

677.0

1,803.5

997.0

Depreciation, Supplemental

39,439.0

38,759.0

34,697.0

37,971.0

36,545.0

Total Special Items

-

-

-

-30,305.0

-661.0

Normalized Income Before Tax

390,147.8

291,550.5

257,355.5

193,857.8

320,943.8

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-

-

-

-8,069.7

-176.2

Inc Tax Ex Impact of Sp Items

108,366.8

76,260.0

74,242.4

51,620.8

85,561.8

Normalized Income After Tax

281,780.9

215,290.6

183,113.0

142,237.0

235,382.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

282,671.3

215,047.5

182,397.6

142,803.1

234,955.8

 

 

 

 

 

 

Basic Normalized EPS

2,249.38

1,692.37

1,428.94

1,120.81

1,847.15

Diluted Normalized EPS

2,249.38

1,692.37

1,428.94

1,120.81

1,847.15

Amort of Intangibles, Supplemental

1,611.0

542.0

399.0

389.0

325.0

Rental Expenses

7,718.0

6,149.0

6,082.0

6,864.0

4,751.0

Advertising Expense, Supplemental

66,898.0

52,233.0

51,893.0

106,824.0

45,416.0

Research & Development Exp, Supplemental

7,757.0

6,192.0

5,168.0

7,366.0

5,041.0

Normalized EBIT

374,879.3

281,419.0

249,395.6

190,054.9

341,733.1

Normalized EBITDA

415,929.3

320,720.0

284,491.6

228,414.9

378,603.1

 

 

Annual Balance Sheet

Standardized

 

Financials in: REP (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

    Short Term Investments

16,272.8

49,034.8

26,772.3

1,091.9

1,555.0

Cash and Short Term Investments

997,586.5

365,706.5

137,017.1

138,779.0

203,424.2

        Accounts Receivable - Trade, Gross

543,788.8

529,531.6

558,567.8

381,223.9

394,335.0

        Provision for Doubtful Accounts

-6,875.0

-8,035.0

-7,869.0

-11,419.6

-39,306.0

    Trade Accounts Receivable - Net

539,117.8

522,069.6

551,082.8

370,130.7

355,271.3

    Other Receivables

87,291.0

78,734.0

82,557.0

54,653.0

144,418.7

Total Receivables, Net

626,408.8

600,803.6

633,639.8

424,783.7

499,690.0

    Inventories - Finished Goods

253,465.0

269,397.0

187,703.0

137,912.3

141,937.4

    Inventories - Work In Progress

313,301.0

318,780.0

478,131.0

279,229.0

231,518.8

    Inventories - Raw Materials

878,502.0

878,360.0

859,806.0

818,492.7

890,867.1

    Inventories - Other

93,309.6

86,156.1

64,233.5

105,786.4

65,737.4

Total Inventory

1,538,577.6

1,552,693.1

1,589,873.5

1,341,420.4

1,330,060.8

Prepaid Expenses

199,404.3

181,245.5

205,474.6

9,408.9

7,421.4

    Deferred Income Tax - Current Asset

-

-

-

17,604.5

8,225.9

    Other Current Assets

-

0.0

0.0

-

122.4

Other Current Assets, Total

-

0.0

0.0

17,604.5

8,348.3

Total Current Assets

3,361,977.3

2,700,448.8

2,566,005.0

1,931,996.5

2,048,944.7

 

 

 

 

 

 

        Buildings

825,647.0

758,966.0

733,416.0

792,374.5

743,745.7

        Land/Improvements

436,950.0

437,143.0

436,527.0

431,727.8

381,943.7

        Machinery/Equipment

1,241,963.0

1,252,074.0

1,215,497.0

1,159,073.5

1,028,826.8

        Construction in Progress

89,389.0

69,340.0

57,120.0

84,053.3

84,606.9

        Other Property/Plant/Equipment

748.9

744.2

743.6

744.2

605.0

    Property/Plant/Equipment - Gross

2,594,697.9

2,518,267.2

2,443,303.6

2,467,973.2

2,239,728.2

    Accumulated Depreciation

-1,083,860.0

-1,046,712.0

-939,313.0

-908,684.1

-776,984.3

Property/Plant/Equipment - Net

1,510,837.9

1,471,555.2

1,503,990.6

1,559,289.1

1,462,743.9

Intangibles, Net

63,145.2

55,699.9

51,933.9

30,796.2

12,248.4

    LT Investment - Affiliate Companies

1,596.5

1,584.4

1,270.2

36,207.5

2,598.5

    LT Investments - Other

436,305.7

546,484.8

409,458.1

259,719.1

96,517.2

Long Term Investments

437,902.3

548,069.2

410,728.3

295,926.5

99,115.7

Note Receivable - Long Term

114,539.5

130,046.6

138,379.1

100,041.7

63,448.0

    Deferred Income Tax - Long Term Asset

11,066.9

8,169.1

7,108.7

1,764.7

-

    Other Long Term Assets

277,590.0

257,894.5

234,783.7

214,287.4

170,625.1

Other Long Term Assets, Total

288,656.9

266,063.6

241,892.4

216,052.1

170,625.1

Total Assets

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

Accounts Payable

301,211.2

326,598.2

455,332.6

15,201.8

14,896.3

Accrued Expenses

324,857.0

350,049.8

370,196.9

328,062.5

194,854.8

Notes Payable/Short Term Debt

66,507.2

94,532.5

104,113.1

38,199.5

80,997.8

Current Portion - Long Term Debt/Capital Leases

505.6

447.9

280.4

210.3

-

    Customer Advances

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

    Income Taxes Payable

222,932.3

128,418.8

187,609.9

220,427.5

135,654.4

    Other Payables

-

-

-

105,692.9

30,548.0

    Other Current Liabilities

-

-

2,698.5

16,895.6

17,752.7

Other Current liabilities, Total

232,267.0

151,934.8

262,016.5

349,231.7

192,371.9

Total Current Liabilities

925,348.0

923,563.2

1,191,939.4

730,905.8

483,120.8

 

 

 

 

 

 

    Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Debt

68,552.4

97,006.8

106,867.8

41,142.5

82,399.8

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

Deferred Income Tax

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

Minority Interest

42,130.0

27,112.2

27,563.8

20,117.4

20,218.5

    Reserves

2,219.8

2,256.4

1,957.0

1,258.1

76,280.5

    Pension Benefits - Underfunded

-

-

-

86,392.5

99,506.4

    Other Long Term Liabilities

82,139.7

68,688.9

105,959.8

25,050.8

27,524.9

Other Liabilities, Total

84,359.5

70,945.3

107,916.8

112,701.4

203,311.8

Total Liabilities

1,220,879.7

1,190,992.2

1,436,656.3

990,992.1

811,581.3

 

 

 

 

 

 

    Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

Additional Paid-In Capital

5,332.7

5,320.5

2,869.3

465,866.0

335,349.6

Retained Earnings (Accumulated Deficit)

3,330,585.7

2,779,281.3

2,277,114.7

2,134,736.0

2,061,348.6

Treasury Stock - Common

-216,827.0

-226,944.7

-226,944.7

-414,947.3

-321,903.9

Unrealized Gain (Loss)

-

-

-

3,135.0

16,938.3

    Translation Adjustment

-

-

-

-639.2

-1,147.5

    Other Equity

482,128.5

468,274.4

468,274.4

-

-

Other Equity, Total

482,128.5

468,274.4

468,274.4

-639.2

-1,147.5

Total Equity

4,556,179.4

3,980,891.0

3,476,273.2

3,143,110.0

3,045,544.5

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

127.6

127.2

128.7

130.8

133.2

Total Common Shares Outstanding

127.6

127.2

128.7

130.8

133.2

Treasury Shares - Common Stock Primary Issue

9.6

10.1

10.1

12.6

14.2

Employees

4,214

4,653

4,750

4,367

4,317

Number of Common Shareholders

104,382

132,863

105,512

107,629

120,524

Accumulated Intangible Amort, Suppl.

20,105.0

15,217.0

-

-

-

Deferred Revenue - Current

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

Total Long Term Debt, Supplemental

505.6

447.9

2,754.0

2,943.0

1,402.0

Long Term Debt Maturing within 1 Year

505.6

447.9

280.0

210.0

97.5

Long Term Debt Maturing in Year 2

-

-

448.0

280.0

97.5

Long Term Debt Maturing in Year 3

-

-

504.0

446.0

259.0

Long Term Debt Maturing in Year 4

-

-

504.0

501.0

259.0

Long Term Debt Maturing in 2-3 Years

-

-

952.0

726.0

356.5

Long Term Debt Maturing in 4-5 Years

-

-

504.0

501.0

259.0

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

1,018.0

1,506.0

689.0

 

 

Annual Balance Sheet

Financials in: KRW (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and CashEquivalents

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

    Other Financial Assets, current

15,272.8

925.8

1,717.1

-

-

    ST Finl Assets

-

-

-

1,000.0

1,000.0

    ST Secs for Sale

1,000.0

1,956.8

2,148.6

91.9

555.0

    Trade Rcvb Gross

543,789.0

529,532.0

558,568.0

381,223.9

394,335.0

    Doubtful Account

-6,875.0

-8,035.0

-7,869.0

-11,419.6

-39,306.0

    ST Loans Shrhldr

19,300.0

24,031.0

28,036.0

19,503.8

19,254.8

    ST Loan, Net

898.0

1,242.0

1,073.0

1,094.4

99,646.7

    Other Rcvbls

69,027.0

55,663.0

55,154.0

34,054.8

25,517.2

    Doubtful Account-Account Rcvbls

-1,934.0

-2,202.0

-1,706.0

-

-

    Trade Guarantee

-

0.0

0.0

-

122.4

    Accrued Income

2,204.0

573.0

384.0

326.5

242.3

    Adjustment

-0.2

-0.4

-0.2

-

-

    Advance Payments

41,544.0

43,614.4

30,988.6

23,715.6

30,292.1

    Prepaid Expenses Total

22,361.2

11,805.1

3,700.6

9,374.7

7,025.8

    Receivable-Recovery of Taxes

-

-

-

34.2

395.7

    Prepaid Taxes on Cigarette Consumption

177,043.1

169,440.4

201,773.9

-

-

    Fixed Assets Reduction Provision

-

46,152.2

22,906.5

-

-

    Deferred Income Tax, Current Assets

-

-

-

17,604.5

8,225.9

    Merchandises

7,914.0

2,623.0

793.0

1,107.5

1,439.6

    Finished Goods

238,009.0

207,308.0

183,668.0

134,163.8

136,230.7

    Work in Progress

312,920.0

318,780.0

296,072.0

259,058.7

218,190.3

    Raw Materials

869,053.0

878,360.0

842,193.0

804,740.6

878,729.1

    Stored Goods

25,941.0

25,256.0

23,269.0

21,855.8

19,751.1

    Residual Products

7,542.0

5,650.0

3,242.0

2,640.9

4,267.1

    Finished Housing

-

53,816.0

0.0

-

-

    Unfinished Housing

381.0

0.0

182,059.0

-

-

    CA Land

9,449.0

0.0

17,613.0

13,204.0

11,570.9

    Goods in Transit

25,825.0

17,286.0

9,976.0

8,064.6

12,949.5

    Adjustment

-0.4

-0.2

-0.1

-

-

    Semi-finish Good

-

-

-

20,170.3

13,328.5

    Assistance Mat.

-

-

-

548.0

567.2

    Unsold Comm Prop

-

-

-

52,150.4

2,744.7

Total Current Assets

3,361,977.3

2,700,448.8

2,566,005.0

1,931,996.5

2,048,944.7

 

 

 

 

 

 

    LT Finl Assets

646.3

286.3

6.3

43.7

43.8

    Investment in Properties

121,482.7

104,115.5

107,330.7

-

-

    Financial Assets Available for Sale

314,176.7

442,083.0

302,121.2

257,097.6

71,156.2

    LT Trade Receivable

114,539.5

130,046.6

138,379.1

84.7

-

    LT Account Receivable

-

-

-

1,017.4

-

    LT Interest Rcvb

-

-

-

-

26.5

    Equity Method Securities

1,596.5

1,584.4

1,270.2

35,969.1

1,111.0

    LT Loans

-

-

-

2,771.8

2,013.7

    Other Investment Assets

-

-

-

2,577.7

25,317.2

    LT Security Deposit

-

-

-

51,162.1

42,265.0

    LT Deposits

-

-

-

-

1,003.2

    Long-Term Prepaid Expenses

6,280.7

6,411.2

6,282.3

-

-

    LT Loans Shrhldr

-

-

-

96,167.8

61,407.7

    Long-term Advance Payments

138,895.7

133,361.9

118,240.3

96,492.8

81,745.9

    LT Affiliat Loan

-

-

-

238.4

1,487.5

    LT Deposit Withheld

132,413.6

118,121.4

110,261.1

66,632.5

45,611.0

    Land

436,950.0

437,143.0

436,527.0

431,727.8

381,943.7

    Buildings

761,383.0

699,249.0

673,719.0

735,932.4

689,849.3

    Buildings Depre.

-265,030.0

-236,698.0

-210,289.0

-212,194.2

-189,704.0

    Buildings-Reduction

-

-

-

-36.1

-198.1

    Structures

64,264.0

59,717.0

59,697.0

56,482.8

54,101.2

    Structure Depre.

-32,217.0

-30,234.0

-28,216.0

-27,250.2

-25,537.2

    Structures-Reduction

-

-

-

-4.5

-6.7

    Machinery/Equip.

994,532.0

968,088.0

954,593.0

892,064.1

804,969.3

    Mach/Equip Depre

-613,152.0

-574,301.0

-530,235.0

-500,275.9

-435,208.2

    Machinery & Equipment-Reduction

-

-

-

-1,085.0

-

    Transport Equip.

8,903.0

13,001.0

17,445.0

19,035.4

20,906.0

    Transport Deprec

-7,114.0

-11,490.0

-14,864.0

-15,681.5

-15,034.4

    Tools/Equipments

46,069.0

45,837.0

47,936.0

42,050.2

35,745.2

    Tool/Equip Depr.

-33,903.0

-33,716.0

-32,795.0

-28,721.6

-24,222.1

    Tools & Equipments, Reduction

-

-

-

-0.2

-

    Fixtures

192,459.0

225,148.0

195,523.0

207,008.9

167,206.3

    Deprec. Fixtures

-132,444.0

-160,273.0

-122,914.0

-124,560.7

-87,278.3

    Other Tangible Assets

749.0

744.0

744.0

744.2

605.0

    Construct in Pro

89,389.0

69,340.0

57,120.0

85,147.2

84,606.9

    Construction in Progress-Reduction

-

-

-

-1,093.9

-

    Adjustment

-0.1

0.2

-0.4

-

-

    Deferred Income Taxes Assets Non-current

11,066.9

8,169.1

7,108.7

1,764.7

-

    Indust.-Patent

2,049.0

1,481.0

1,847.0

2,223.8

3,713.7

    Usage Right-Facility

24,189.0

20,750.0

19,964.0

-

-

    Other Intangible

4,194.0

2,981.0

2,951.0

2,428.0

1,557.5

    Intangible Assets-under Development

32,713.0

30,488.0

27,172.0

-

-

    Adjustment

0.2

-0.1

-0.1

-

-

    Goodwill

-

-

-

4,007.4

6,977.2

    Membership Right

-

-

-

22,137.0

-

Total Assets

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

    Accounts Payable

-

-

-

105,692.9

30,548.0

    Trade Acct. Pay.

301,211.2

326,598.2

455,332.6

15,201.8

14,896.3

    Inc. Taxes Pay.

222,932.3

128,418.8

187,609.9

220,427.5

135,654.4

    Accrd Cigaret Tx

324,857.0

350,049.8

370,196.9

181,734.2

55,387.9

    Accrued Expenses

-

-

-

17,342.8

10,518.9

    Advance for Customers

9,334.7

23,516.0

71,708.0

6,126.8

7,998.5

    Unearned Income

-

-

-

89.0

418.3

    Deposit Withheld

-

-

-

11,763.1

15,718.0

    Security Deposit Withheld

-

-

-

102.2

212.2

    VAT Withheld

-

-

-

128,985.5

128,948.0

    Reserve Liability

-

-

-

5,108.0

2,034.7

    Derivatives in Liabilities, Current

-

-

2,698.5

24.5

-

    Current Portion of LT Debt

505.6

447.9

280.4

210.3

-

    Short-term Borrowings

66,507.2

94,532.5

104,113.1

38,097.2

80,785.5

Total Current Liabilities

925,348.0

923,563.2

1,191,939.4

730,905.8

483,120.8

 

 

 

 

 

 

    Long Term Borrowings

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

 

 

 

 

 

 

    Long-term Trade Payables

22,880.4

23,028.1

23,580.4

-

-

    Long-term Advances from Customers

10,935.1

10,215.4

8,385.7

-

-

    LT Guaranteed Liabilities

48,324.2

35,445.4

73,993.6

-

-

    Rental Secur Dep

-

-

-

24,938.4

27,460.4

    LT Deposit Withheld

-

-

-

112.4

64.5

    Deferred Income Taxes Liabilities Non-cu

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

    Reserve-Lawsuit

-

-

-

364.0

-

    Reserve Liability-Sales Return

-

-

-

894.1

1,796.9

    LT Reserve

2,219.8

2,256.4

1,957.0

-

-

    Tobacco Stabil R

-

-

-

-

74,483.6

    Retire Reserve

-

-

-

86,392.5

99,506.4

    Minority Interest

42,130.0

27,112.2

27,563.8

20,117.4

20,218.5

Total Liabilities

1,220,879.7

1,190,992.2

1,436,656.3

990,992.1

811,581.3

 

 

 

 

 

 

    Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

    Other Capital Surplus

5,332.7

5,320.5

2,869.3

465,866.0

335,349.6

    Treasury Stock

-216,827.0

-226,944.7

-226,944.7

-414,947.3

-321,903.9

    Gains on Sale of Treasury Stock

482,128.5

468,274.4

468,274.4

-

-

    Reserves

2,179,227.1

2,075,268.8

1,825,708.4

-

-

    Retained Earning Carried Forward

1,151,358.6

704,012.5

451,406.4

2,134,736.0

2,061,348.6

    G-Sec for Sale V

-

-

-

2,100.2

15,929.3

    G-Inv. Secs. Under Equity Method Valu.

-

-

-

1,034.8

1,009.0

    Overseas Business Translation Credit

-

-

-

-639.2

-1,147.5

Total Equity

4,556,179.4

3,980,891.0

3,476,273.2

3,143,110.0

3,045,544.5

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

    S/O-Common Stock

127.6

127.2

128.7

130.8

133.2

Total Common Shares Outstanding

127.6

127.2

128.7

130.8

133.2

T/S-Common Stock

9.6

10.1

10.1

12.6

14.2

Deferred Revenue, Current

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

Accu. Intangible Amort&Impair, Supple.

20,105.0

15,217.0

-

-

-

Full-Time Employees

4,214

4,653

4,750

4,367

4,317

Number of Common Shareholders

104,382

132,863

105,512

107,629

120,524

Long Term Debt Maturing within 1 Year

505.6

447.9

280.0

210.0

-

Long Term Debt Maturing within 2 Years

-

-

448.0

280.0

195.0

Long Term Debt Maturing within 3 Years

-

-

504.0

446.0

259.0

Long Term Debt Maturing within 4 Years

-

-

504.0

501.0

259.0

Long Term Debt Remaining Maturities

-

-

1,018.0

1,506.0

689.0

Total Long Term Debt, Supplemental

505.6

447.9

2,754.0

2,943.0

1,402.0

 

 

Annual Cash Flows

Financials in: KRW (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

1,030,789.0

850,094.0

1,063,379.1

646,405.1

648,930.0

    Depreciation

147,673.0

151,884.0

-

150,867.2

132,571.2

    Corporate Tax

374,886.0

311,784.0

-

-

-

    Financial Expense

4,469.0

6,526.0

-

-

-

    Financial Income

-270,338.0

-12,853.0

-

-

-

    Amort. Intangible

1,324.0

1,492.0

-

4,527.3

4,513.2

    Amort-Bad Debt Exp.

-

-

-

7,241.9

3,849.6

    Donations

-

-

-

0.1

-

    Amort-Other Bad Debt

-

-

-

1,218.9

2,331.9

    Retirement Allowance

86,939.0

41,541.0

-

40,335.5

59,371.9

    Loss-Valuation of Derivatives

-

-

-

24.5

-

    L-Sec for Sale Disposal

-

-

-

723.6

427.5

    L-Sec for Sale Redct

-

-

-

2,163.1

2,363.8

    L-For Exch Translatn

5,755.0

17,708.0

-

219.4

3,435.3

    Loss-Disposal of Trade Receivable

-

-

-

483.2

-

    L-Inventory Scrapping

-

-

-

814.2

257.3

    Loss on Valuation of Inventory

164.0

-

-

38,221.6

23,578.8

    Loss Redu.of Trade Receivable&Other Rece

473.0

720.0

-

-

-

    Disp Tang Asst Loss

2,386.0

7,496.0

-

4,845.4

7,591.0

    L-Tang Asset Redct

-

657.0

-

-

-

    Loss-Reduction of Intangible Assets

-

647.0

-

1,065.8

-

    Loss on Sale of Intangible Assets

159.0

-

-

-

-

    Loss Reduction of Intangible Assets

3,681.0

-

-

-

-

    Loss-Reduction of Tangible Assets

-

-

-

2,179.1

204.8

    Loss Reduction of Investment Properties

1,437.0

-

-

-

-

    Other Expense

7,237.0

4,154.0

-

-

-

    Transfer-Resrve Installment

-

-

-

3,737.1

2,034.7

    Provision for Litigation Loss

-

-

-

364.0

-

    Transfr-Tobacco Fund

-

-

-

35,516.4

18,730.2

    Loss-Prior Period Error Correction

-

-

-

20,958.9

-

    Stock Compensation Expense

-

-

-

348.7

-

    Miscellaneous Loss

-

-

-

26.5

52.6

    Gain on Sec Sales

-

-

-

-10,840.0

-1,790.2

    Loss-Disposal of Other Fixed Assets

-

-

-

-141.2

-

    Gain Disp Tang. Ast

-101,886.0

-17,033.0

-

-10,237.1

-8,348.8

    Gain on Sale of Intangible Assets

-24.0

-

-

-

-

    Gain under Equity Method

-

-

-

-1,187.8

-789.7

    Gain-Disposal of Sec. under Equity Mtd.

-300.0

-

-

-

-17,428.3

    Gain-Valu. of Securities Avail-for-Sale

-

-

-

-11.4

-

    Reversal Prov. Doubt

-

-

-

-1,913.4

-28,720.0

    Recovery-Loss Reduct.of Trade Recei

-216.0

-46.0

-

-

-

    Recovery-Inventory Valuation Loss

-

-3,807.0

-

-35,001.3

-11,779.5

    G-For Curr Transactn

-

-

-

-2,621.2

-59.1

    Gain on Foreign Currency Translation

-1,717.0

-1,184.0

-

-

-

    Interest Income

-

-

-

-11,416.4

-11,760.4

    Accrued LT Interest

-

-

-

-

-48.2

    Gain-Convertible Bonds Conversion

-

-

-

-

-1,875.9

    Loss-Minority Interest

-

-

-

-

-2,942.1

    Miscellaneous Gain

-

-94.0

-

-29.8

-

    Inventories

14,122.0

48,067.0

-

-18,927.1

44,252.5

    Trade Receivables

-51,650.0

17,697.0

-

-36,651.8

-22,025.8

    Accrued Income

-

-

-

-84.2

4,418.4

    Account Receivables

-

-

-

-10,222.4

4,290.0

    Prepaid Expenses

-2,143.0

-3,595.0

-

-3,626.3

-836.4

    Advance Payments

-3,599.0

-28,083.0

-

29,367.8

16,270.9

    LT Advance Payment

-

-

-

-37,174.4

-7,326.2

    Corporate Tax Refundable

-7,603.0

32,333.0

-

360.4

-1,882.6

    Trade Guarantee

-

-

-

122.4

-69.7

    Deferred Taxes-Asset

-

-

-

-8,945.6

3,042.7

    Trade Payables

-23,947.0

-122,072.0

-

-7,786.2

-30,423.7

    Account Payables

-

-

-

74,349.0

11,482.1

    Accrued Expenses

-

-

-

11,288.7

-21,059.9

    Accrued Inc Tax

-

-

-

35,909.3

56,551.1

    Tobacco Fund

-

-

-

-110,000.0

-

    Decrease-Reserve

-

-

-

-661.8

-

    Accrued Cigarette Consumption Taxes

-25,193.0

-20,147.0

-

126,346.3

36,463.1

    Unearned Income

-

-

-

-929.8

-373.8

    LT Account Payable

-

-

-

-

-40.0

    Advances Received

-13,257.0

-46,045.0

-

-1,768.2

4,292.9

    Deposits Withheld

-

-

-

-4,790.9

-9,268.3

    Security Deposit Withheld

-

-

-

-110.0

-

    VAT Withheld

-

-

-

37.5

-12,198.1

    Nation Pension Fnd

-

-

-

182.9

-10.7

    Retiremt Allow Paymt

-81,201.0

-54,184.0

-

-21,517.6

-13,465.9

    Retirement Insurance

-

-

-

-23,790.4

-21,154.1

    Deferred Income Tax Credit, A/L

-

-

-

24,512.6

6,971.6

    Reserve for Returned Goods

-

-

-

-298.2

876.3

    Oversea Op Translatn

-

-

-

21.0

-431.3

    Taxes Paid

-253,596.2

-352,728.7

-365,569.5

-

-

    Gain on Equity Method Securities

-

-6.0

-

-

-

    Loss on Equity Method Securities

287.0

191.0

-

-

-

    Operating Activities, Adjustment

0.5

-0.4

-

-

-

Cash from Operating Activities

845,111.2

831,112.9

697,809.6

904,100.8

873,046.7

 

 

 

 

 

 

    Dec-ST Finl Assets

-

-

-

11,940.0

240,000.0

    Decrease-LT Financial Assets

-

-

-

19.2

33.3

    Decrease-Loans

47,795.8

25,671.0

29,162.2

-

-

    Interest Received

20,547.2

10,720.7

17,453.0

-

-

    Decrease-ST Loans

-

-

-

1,315.2

-

    Decrease-LT Loans

-

-

-

246.9

-

    Received-Gain on LT Deposit Investment

1,243.8

-

-

-

-

    Decrease-Current Portion of LT Loans

-

-

-

111,459.0

3,095.4

    Dec-Secs for Sale

-

-

-

2,005.0

9,707.6

    Proceeds from Sale of Equity Method Secu

-

1.1

-

-

40,147.6

    Dividend Income, IP

2,056.4

215.3

3,458.2

-

-

    Decrease in Deposits Provided

39,793.2

17,307.9

12,275.4

20,055.8

23,777.0

    Proceeds from Sale of Available for sale

265,677.8

2,346.4

348.7

-

-

    Dec. Other Inv Asset

-

-

-

106.6

96.7

    Disposal of Non-Current Assets Held for

100,830.4

-

-

-

-

    Proceeds from Sale of Property Plant and

35,725.7

18,637.6

23,107.4

-

-

    Disposal of Subsidiary Investment

-

-

281.5

-

-

    Disposal of Land

-

-

-

22,111.4

10,627.8

    Disposal of Building

-

-

-

2,496.0

10,140.0

    Disposal Structure

-

-

-

48.8

76.3

    Disposal Mach./Equip

-

-

-

1,153.9

291.9

    Disposal Trans Equip

-

-

-

838.3

415.1

    Disp Tools/Supplies

-

-

-

35.1

105.7

    Disp-Fixtures

-

-

-

112.3

58.2

    Decrease-Membership Right

-

-

-

204.5

-

    Decrease-Intangible Assets

1,016.1

63.9

35.5

-

20.1

    Increase-ST Loans

-

-

-

-1,787.1

-

    Inc-LT Finl Assets

-

-

-

-19.2

-12.7

    Increase-Loans

-16,022.6

-10,403.2

-22,607.4

-

-

    Increase in LT Loans

-

-

-

-11,123.7

-1,126.8

    Inc LT Shrhldr Loans

-

-

-

-

-5,541.1

    Increase in Deposits Provided

-49,004.0

-20,187.2

-18,401.2

-24,375.9

-25,154.9

    Increase-LT Deposit

-13,625.2

-18,054.9

-17,895.0

-20,415.0

-19,840.8

    Purchase of Derivatives Assets

-

-4,409.8

-6,319.7

-

-

    Purchase of Available for sale Securitie

-39,923.4

-11,995.5

-19,098.8

-242,324.2

-8,263.6

    Purchase of Equity Method Securities

-

-500.0

-500.0

-

-

    Inc Other Invt Ast

-

-

-

-2,774.3

-2,735.1

    Purchase of Investment Properties

-

-323.4

-222.1

-

-

    Purchase of Property, Plant and Equipmen

-211,635.8

-152,247.8

-205,649.4

-

-

    Acquisition of Land

-

-

-

-22,265.6

-21,645.2

    Acquis. of Building

-

-

-

-7,683.4

-14,349.4

    Purch. of Structure

-

-

-

-1,822.3

-1,311.9

    Purch. of Mach/Equip

-

-

-

-12,262.5

-9,132.1

    Acq. of Trans Equip

-

-

-

-763.2

-639.1

    Acq. in Tools/Suppl.

-

-

-

-2,940.0

-2,460.8

    Acquis. of Supplies

-

-

-

-37,130.1

-34,241.8

    Acq. Const. In Prog

-

-

-

-186,138.2

-201,169.4

    Inc-Other Tangible Assets

-

-

-

-139.1

-45.5

    Purchase of Intangible Assets

-13,606.3

-5,892.2

-6,382.3

-

-

    Deduction from Other Investing Activitie

-16,517.0

654.5

-665.9

-

-

    Increase-Membership Right

-

-

-

-698.0

-

    Acq Intangible Asset

-

-

-

-1,709.9

-931.8

Cash from Investing Activities

154,352.0

-148,395.6

-211,619.9

-402,223.7

-10,009.2

 

 

 

 

 

 

    Interest Paid

-2,717.1

-4,976.3

-4,254.7

-

-

    Payments in Dividends

-356,156.6

-360,356.6

-340,449.2

-319,712.0

-249,702.7

    Proceeds from Short-term Borrowings

45,832.3

75,261.6

80,905.0

183,977.9

140,192.2

    Increase-LT Borrowings

-

-

22.0

1,541.0

105.0

    Disposal-Treasury Stock

28,395.0

-

-

235,232.8

76,767.5

    Inc Lease Guarantee

5,633.4

2,953.2

4,375.6

7,931.4

9,500.0

    Capital Increase

16,688.1

-

-

17,870.5

-

    Repayments of Short-term Borrowings

-62,941.3

-83,227.1

-64,735.9

-226,662.3

-125,527.3

    Repayments of Long-term Borrowings

-429.1

-280.4

-210.3

-

-

    Decrease-Lease Guarantee Deposit

-6,968.5

-3,592.5

-5,898.3

-10,731.2

-8,164.7

    Purchase of Treasury Stock

-

-103,998.9

-194,128.1

-455,034.7

-857,777.5

    Changes-Consolidation Scope

-

-

-

-887.5

-

    Cash Inflow-Merger

-

-

-

415.0

-

    Cash Flow Due to Consolidation

-

-

-

-

4,530.5

Cash from Financing Activities

-332,664.0

-478,217.1

-524,374.0

-566,059.2

-1,010,077.0

 

 

 

 

 

 

Foreign Exchange Effects

-2,157.3

1,926.6

2,211.3

-

-

Net Change in Cash

664,642.0

206,426.9

-35,973.0

-64,182.1

-147,039.5

 

 

 

 

 

 

Cash and Cash Equivalent at Beginning

316,671.8

110,244.9

146,217.9

201,869.2

348,908.7

Cash and Cash Equivalent at End

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

    Cash Interest Paid

2,717.1

4,976.3

4,254.7

-

-

    Cash Taxes Paid

253,596.2

352,728.7

365,569.5

-

-

 

 

Financial Health

 

Financials in: REP (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators REP (mil)

 

Quarter
Ending
30-Sep-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

1,045,870.7

10.90%

3,461,418.4

-4.55%

4.35%

5.53%

Research & Development1

-

-

21,550.0

5.92%

-1.91%

5.04%

Operating Income1

374,879.3

19.16%

1,140,094.1

-1.35%

5.37%

7.42%

Income Available to Common Excl Extraord Items1

282,671.3

20.06%

1,031,823.4

21.24%

15.91%

14.78%

Basic EPS Excl Extraord Items1

2,249.38

21.52%

8,108.52

22.30%

17.46%

18.23%

Capital Expenditures2

220,331.6

35.61%

225,242.1

42.14%

-6.27%

4.64%

Cash from Operating Activities2

742,252.1

2.81%

845,111.2

1.68%

-2.22%

9.70%

Free Cash Flow

521,920.5

-6.71%

619,869.1

-7.85%

-0.57%

11.96%

Total Assets3

6,049,920.8

8.39%

5,777,059.1

11.70%

11.80%

7.01%

Total Liabilities3

1,365,431.9

11.27%

1,220,879.7

2.51%

7.20%

12.80%

Total Long Term Debt3

4,852.9

716.88%

1,539.6

-24.02%

-17.41%

3.49%

Employees3

-

-

4214

-9.43%

-1.18%

-0.72%

Total Common Shares Outstanding3

125.6

-1.22%

127.6

0.35%

-0.82%

-2.77%

1-ExchangeRate: KRW to REP Average for Period

1.000000

 

1.000000

 

 

 

2-ExchangeRate: KRW to REP Average for Period

1.000000

 

1.000000

 

 

 

3-ExchangeRate: KRW to REP Period End Date

1.000000

 

1.000000

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Gross Margin

58.20%

57.17%

60.37%

100.00%

100.00%

Operating Margin

32.94%

31.87%

37.37%

31.99%

30.35%

Pretax Margin

40.61%

32.04%

37.59%

30.78%

31.53%

Net Profit Margin

29.81%

23.47%

27.10%

21.75%

23.04%

Financial Strength

Current Ratio

3.63

2.92

2.15

2.64

4.24

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.02

0.02

0.03

0.01

0.03

Management Effectiveness

Return on Assets

18.83%

16.86%

19.79%

16.18%

16.20%

Return on Equity

24.17%

22.83%

27.13%

21.41%

19.99%

Efficiency

Receivables Turnover

5.64

5.88

6.26

6.59

6.52

Inventory Turnover

0.94

0.99

0.90

-

-

Asset Turnover

0.63

0.72

0.73

0.76

0.71

Market Valuation REP (mil)

P/E (TTM)

11.06

.

Enterprise Value2

9,294,187.0

Price/Sales (TTM)

2.77

.

Enterprise Value/Revenue (TTM)

2.55

Price/Book (MRQ)

1.98

.

Enterprise Value/EBITDA (TTM)

7.26

Market Cap as of 20-Jan-20121

10,118,460.0

.

 

 

1-ExchangeRate: KRW to REP on 20-Jan-2012

1.000000

 

 

 

2-ExchangeRate: KRW to REP on 30-Sep-2011

1.000000

 

 

 

 

 

 

Annual Ratios

 

Financials in: REP (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

Financial Strength

Current Ratio

3.63

2.92

2.15

2.64

4.24

Quick/Acid Test Ratio

1.76

1.05

0.65

0.77

1.46

Working Capital

2,436,629.3

1,776,885.6

1,374,065.6

1,201,090.7

1,565,824.0

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.02

0.02

0.03

0.01

0.03

Long Term Debt/Total Capital

0.00

0.00

0.00

0.00

0.00

Total Debt/Total Capital

0.01

0.02

0.03

0.01

0.03

Payout Ratio

37.00%

42.23%

40.59%

51.97%

52.14%

Effective Tax Rate

26.67%

26.83%

28.11%

31.07%

27.26%

Total Capital

4,624,731.9

4,077,897.8

3,583,141.0

3,184,252.5

3,127,944.3

 

 

 

 

 

 

Efficiency

Asset Turnover

0.63

0.72

0.73

0.76

0.71

Inventory Turnover

0.94

0.99

0.90

-

-

Days In Inventory

389.96

369.23

407.58

-

-

Receivables Turnover

5.64

5.88

6.26

6.59

6.52

Days Receivables Outstanding

64.70

62.12

58.32

55.38

56.02

Revenue/Employee

821,409,201

779,358,052

697,330,351

697,591,990

652,332,035

Operating Income/Employee

270,549,148

248,385,002

260,611,470

223,178,687

197,974,116

EBITDA/Employee

305,906,765

281,347,822

292,860,944

258,082,392

229,728,660

 

 

 

 

 

 

Profitability

Gross Margin

58.20%

57.17%

60.37%

100.00%

100.00%

Operating Margin

32.94%

31.87%

37.37%

31.99%

30.35%

EBITDA Margin

37.24%

36.10%

42.00%

37.00%

35.22%

EBIT Margin

32.94%

31.87%

37.37%

31.99%

30.35%

Pretax Margin

40.61%

32.04%

37.59%

30.78%

31.53%

Net Profit Margin

29.81%

23.47%

27.10%

21.75%

23.04%

R&D Expense/Revenue

0.62%

0.56%

-

0.75%

0.74%

COGS/Revenue

41.80%

42.83%

39.63%

-

-

SG&A Expense/Revenue

24.85%

21.80%

25.08%

21.95%

22.55%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

18.83%

16.86%

19.79%

16.18%

16.20%

Return on Equity

24.17%

22.83%

27.13%

21.41%

19.99%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share

4,856.05

5,288.18

3,772.81

4,819.24

4,407.37

Operating Cash Flow/Share

6,620.60

6,533.97

5,422.04

6,909.98

6,553.75

 

Current Market Multiples

Market Cap/Earnings (TTM)

12.08

Market Cap/Equity (MRQ)

2.16

Market Cap/Revenue (TTM)

2.77

Market Cap/EBIT (TTM)

8.99

Market Cap/EBITDA (TTM)

7.91

Enterprise Value/Earnings (TTM)

11.10

Enterprise Value/Equity (MRQ)

1.98

Enterprise Value/Revenue (TTM)

2.55

Enterprise Value/EBIT (TTM)

8.25

Enterprise Value/EBITDA (TTM)

7.26

 

 

 

 

Annual Income Statement

Standardized

 

Financials in: REP (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

Total Revenue

3,461,418.4

3,626,353.0

3,312,319.2

3,046,384.2

2,816,117.4

 

 

 

 

 

 

    Cost of Revenue

1,446,708.4

1,553,264.1

1,312,531.6

-

-

Cost of Revenue, Total

1,446,708.4

1,553,264.1

1,312,531.6

-

-

Gross Profit

2,014,710.0

2,073,089.0

1,999,787.5

3,046,384.2

2,816,117.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

279,526.7

254,185.8

809,681.3

218,676.3

197,138.4

    Labor & Related Expense

334,975.2

317,197.0

21,000.0

277,951.4

266,945.9

    Advertising Expense

245,802.0

219,332.0

-

172,050.4

171,069.7

Total Selling/General/Administrative Expenses

860,303.9

790,714.8

830,681.3

668,678.1

635,154.0

Research & Development

21,550.0

20,345.0

-

22,834.3

20,920.9

    Depreciation

47,704.0

53,118.0

-

56,243.1

49,104.2

    Amortization of Intangibles

1,219.0

1,378.0

-

4,508.4

4,494.3

Depreciation/Amortization

48,923.0

54,496.0

-

60,751.5

53,598.5

        Investment Income - Operating

11,146.0

28,321.0

-

-

-

    Interest/Investment Income - Operating

11,146.0

28,321.0

-

-

-

Interest Expense (Income) - Net Operating Total

11,146.0

28,321.0

-

-

-

    Impairment-Assets Held for Use

-

-

-

3,244.9

204.8

    Impairment-Assets Held for Sale

-

-

-

2,163.1

2,363.8

    Loss (Gain) on Sale of Assets - Operating

-93,114.0

-5,383.0

-

-

-

    Other Unusual Expense (Income)

2,769.0

1,669.0

-

6.5

3.0

Unusual Expense (Income)

-90,345.0

-3,714.0

-

5,414.5

2,571.6

    Other Operating Expense

5,721.4

6,917.8

50,061.2

1,055.2

1,089.2

    Other, Net

17,316.6

20,272.9

-118,859.4

1,313,029.3

1,248,129.0

Other Operating Expenses, Total

23,038.0

27,190.8

-68,798.2

1,314,084.5

1,249,218.2

Total Operating Expense

2,321,324.3

2,470,617.6

2,074,414.7

2,071,762.9

1,961,463.1

 

 

 

 

 

 

Operating Income

1,140,094.1

1,155,735.4

1,237,904.5

974,621.3

854,654.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-3,255.0

-4,815.0

-13,711.2

-4,501.7

-3,856.3

    Interest Expense, Net Non-Operating

-3,255.0

-4,815.0

-13,711.2

-4,501.7

-3,856.3

        Interest Income - Non-Operating

-

-

21,251.7

41,497.0

43,276.1

        Investment Income - Non-Operating

245,294.8

-1,094.6

-317.5

13,740.5

10,877.6

    Interest/Investment Income - Non-Operating

245,294.8

-1,094.6

20,934.2

55,237.5

54,153.7

    Interest Income (Expense) - Net Non-Operating

23,541.0

12,052.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

265,580.8

6,142.4

7,223.0

50,735.8

50,297.4

Gain (Loss) on Sale of Assets

-

-

-

4,718.7

500.5

    Other Non-Operating Income (Expense)

-

0.3

-

-92,277.1

-17,397.8

Other, Net

-

0.3

-

-92,277.1

-17,397.8

Income Before Tax

1,405,674.9

1,161,878.1

1,245,127.5

937,798.8

888,054.5

 

 

 

 

 

 

Total Income Tax

374,886.3

311,783.7

349,998.9

291,393.7

242,066.6

Income After Tax

1,030,788.6

850,094.3

895,128.6

646,405.1

645,987.8

 

 

 

 

 

 

    Minority Interest

1,034.8

996.3

2,648.5

16,200.6

2,942.1

Net Income Before Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Basic EPS Excl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Basic/Primary EPS Incl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted Net Income

1,031,823.4

851,090.6

897,777.0

662,605.6

648,930.0

Diluted Weighted Average Shares

127.3

128.4

130.1

132.4

141.0

Diluted EPS Excl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Diluted EPS Incl Extraord Items

8,108.52

6,629.86

6,898.52

5,002.97

4,603.19

Dividends per Share - Common Stock Primary Issue

3,000.00

2,800.00

2,800.00

2,600.00

2,400.00

Gross Dividends - Common Stock

382,946.0

356,157.0

360,357.0

340,449.0

319,712.0

Interest Expense, Supplemental

4,469.1

4,815.0

4,714.0

4,501.7

3,856.3

Depreciation, Supplemental

147,673.0

151,884.0

151,151.0

150,867.2

132,571.2

Total Special Items

-90,345.0

-3,714.0

-

3,665.8

5,041.0

Normalized Income Before Tax

1,315,329.9

1,158,164.1

1,245,127.5

941,464.6

893,095.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-24,094.5

-996.6

-

216.2

564.5

Inc Tax Ex Impact of Sp Items

350,791.7

310,787.1

349,998.9

291,609.9

242,631.2

Normalized Income After Tax

964,538.2

847,377.0

895,128.6

649,854.7

650,464.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

965,572.9

848,373.3

897,777.0

666,055.2

653,406.5

 

 

 

 

 

 

Basic Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Diluted Normalized EPS

7,587.89

6,608.69

6,898.52

5,029.02

4,634.94

Amort of Acquisition Costs, Supplemental

-

-

-

2,970.0

2,970.0

Amort of Intangibles, Supplemental

1,324.0

1,492.0

2,034.0

1,557.3

4,513.2

Rental Expenses

21,061.0

18,049.0

13,922.0

8,804.0

6,205.9

Advertising Expense, Supplemental

245,802.0

219,332.0

198,861.0

172,050.4

171,069.7

Research & Development Exp, Supplemental

21,550.0

20,345.0

21,908.0

22,834.3

20,920.9

Normalized EBIT

1,060,895.1

1,180,342.4

1,237,904.5

980,035.8

857,225.8

Normalized EBITDA

1,209,892.1

1,333,718.4

1,391,089.5

1,135,430.3

997,280.2

 

 

Interim Income Statement

Standardized

 

Financials in: REP (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Reclassified Calculated 
30-Jun-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1

1

1

1

1

 

 

 

 

 

 

    Net Sales

1,045,870.7

898,595.5

824,444.9

882,252.4

943,044.3

Revenue

1,045,870.7

898,595.5

824,444.9

882,252.4

943,044.3

Total Revenue

1,045,870.7

898,595.5

824,444.9

882,252.4

943,044.3

 

 

 

 

 

 

    Cost of Revenue

453,867.4

380,427.7

346,800.7

375,393.2

391,639.1

Cost of Revenue, Total

453,867.4

380,427.7

346,800.7

375,393.2

391,639.1

Gross Profit

592,003.2

518,167.8

477,644.2

506,859.1

551,405.2

 

 

 

 

 

 

    Selling/General/Administrative Expense

267,077.7

224,964.2

217,839.8

80,197.8

69,969.5

    Labor & Related Expense

-

-

-

94,811.0

77,143.2

    Advertising Expense

-

-

-

106,824.0

45,416.0

Total Selling/General/Administrative Expenses

267,077.7

224,964.2

217,839.8

281,832.8

192,528.7

Research & Development

-

-

-

7,366.0

4,613.0

    Depreciation

-

-

-

11,638.0

11,886.0

    Amortization of Intangibles

-

-

-

320.0

331.0

Depreciation/Amortization

-

-

-

11,958.0

12,217.0

        Investment Income - Operating

-

-

-

830.0

27,802.0

    Interest/Investment Income - Operating

-

-

-

830.0

27,802.0

Interest Expense (Income) - Net Operating Total

-

-

-

830.0

27,802.0

    Loss (Gain) on Sale of Assets - Operating

-

-

-

-30,305.0

-661.0

Unusual Expense (Income)

-

-

-

-30,305.0

-661.0

    Other Operating Expense

18,980.5

22,141.7

22,550.9

-2,527.6

66.4

    Other, Net

-68,934.3

-10,357.1

-12,142.1

18,175.0

247.0

Other Operating Expenses, Total

-49,953.8

11,784.6

10,408.8

15,647.4

313.4

Total Operating Expense

670,991.3

617,176.5

575,049.3

662,722.4

628,452.2

 

 

 

 

 

 

Operating Income

374,879.3

281,419.0

249,395.6

219,529.9

314,592.1

 

 

 

 

 

 

        Interest Expense - Non-Operating

-1,433.3

-1,157.4

-4,665.6

-589.4

-997.0

    Interest Expense, Net Non-Operating

-1,433.3

-1,157.4

-4,665.6

-589.4

-997.0

        Interest Income - Non-Operating

-

-

-

8,213.0

7,041.0

        Investment Income - Non-Operating

16,701.8

11,288.9

12,625.5

-2,990.9

969.3

    Interest/Investment Income - Non-Operating

16,701.8

11,288.9

12,625.5

5,222.1

8,010.3

Interest Income (Expense) - Net Non-Operating Total

15,268.5

10,131.5

7,959.8

4,632.7

7,013.3

    Other Non-Operating Income (Expense)

-

-

-

0.2

-0.5

Other, Net

-

-

-

0.2

-0.5

Income Before Tax

390,147.8

291,550.5

257,355.5

224,162.8

321,604.8

 

 

 

 

 

 

Total Income Tax

108,366.8

76,260.0

74,242.4

59,690.5

85,738.1

Income After Tax

281,780.9

215,290.6

183,113.0

164,472.3

235,866.8

 

 

 

 

 

 

    Minority Interest

890.4

-243.1

-715.5

566.1

-426.2

Net Income Before Extraord Items

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

Net Income

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

125.7

127.1

127.6

127.4

127.2

Basic EPS Excl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Basic/Primary EPS Incl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Diluted Net Income

282,671.3

215,047.5

182,397.6

165,038.4

235,440.6

Diluted Weighted Average Shares

125.7

127.1

127.6

127.4

127.2

Diluted EPS Excl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Diluted EPS Incl Extraord Items

2,249.38

1,692.37

1,428.94

1,295.32

1,850.97

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

3,000.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

382,946.0

0.0

Interest Expense, Supplemental

1,433.0

1,157.4

677.0

1,803.5

997.0

Depreciation, Supplemental

39,439.0

38,759.0

34,697.0

37,971.0

36,545.0

Total Special Items

-

-

-

-30,305.0

-661.0

Normalized Income Before Tax

390,147.8

291,550.5

257,355.5

193,857.8

320,943.8

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-

-

-

-8,069.7

-176.2

Inc Tax Ex Impact of Sp Items

108,366.8

76,260.0

74,242.4

51,620.8

85,561.8

Normalized Income After Tax

281,780.9

215,290.6

183,113.0

142,237.0

235,382.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

282,671.3

215,047.5

182,397.6

142,803.1

234,955.8

 

 

 

 

 

 

Basic Normalized EPS

2,249.38

1,692.37

1,428.94

1,120.81

1,847.15

Diluted Normalized EPS

2,249.38

1,692.37

1,428.94

1,120.81

1,847.15

Amort of Intangibles, Supplemental

1,611.0

542.0

399.0

389.0

325.0

Rental Expenses

7,718.0

6,149.0

6,082.0

6,864.0

4,751.0

Advertising Expense, Supplemental

66,898.0

52,233.0

51,893.0

106,824.0

45,416.0

Research & Development Exp, Supplemental

7,757.0

6,192.0

5,168.0

7,366.0

5,041.0

Normalized EBIT

374,879.3

281,419.0

249,395.6

190,054.9

341,733.1

Normalized EBITDA

415,929.3

320,720.0

284,491.6

228,414.9

378,603.1

 

 

 

Annual Balance Sheet

Standardized

 

Financials in: REP (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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

981,313.8

316,671.8

110,244.9

137,687.1

201,869.2

    Short Term Investments

16,272.8

49,034.8

26,772.3

1,091.9

1,555.0

Cash and Short Term Investments

997,586.5

365,706.5

137,017.1

138,779.0

203,424.2

        Accounts Receivable - Trade, Gross

543,788.8

529,531.6

558,567.8

381,223.9

394,335.0

        Provision for Doubtful Accounts

-6,875.0

-8,035.0

-7,869.0

-11,419.6

-39,306.0

    Trade Accounts Receivable - Net

539,117.8

522,069.6

551,082.8

370,130.7

355,271.3

    Other Receivables

87,291.0

78,734.0

82,557.0

54,653.0

144,418.7

Total Receivables, Net

626,408.8

600,803.6

633,639.8

424,783.7

499,690.0

    Inventories - Finished Goods

253,465.0

269,397.0

187,703.0

137,912.3

141,937.4

    Inventories - Work In Progress

313,301.0

318,780.0

478,131.0

279,229.0

231,518.8

    Inventories - Raw Materials

878,502.0

878,360.0

859,806.0

818,492.7

890,867.1

    Inventories - Other

93,309.6

86,156.1

64,233.5

105,786.4

65,737.4

Total Inventory

1,538,577.6

1,552,693.1

1,589,873.5

1,341,420.4

1,330,060.8

Prepaid Expenses

199,404.3

181,245.5

205,474.6

9,408.9

7,421.4

    Deferred Income Tax - Current Asset

-

-

-

17,604.5

8,225.9

    Other Current Assets

-

0.0

0.0

-

122.4

Other Current Assets, Total

-

0.0

0.0

17,604.5

8,348.3

Total Current Assets

3,361,977.3

2,700,448.8

2,566,005.0

1,931,996.5

2,048,944.7

 

 

 

 

 

 

        Buildings

825,647.0

758,966.0

733,416.0

792,374.5

743,745.7

        Land/Improvements

436,950.0

437,143.0

436,527.0

431,727.8

381,943.7

        Machinery/Equipment

1,241,963.0

1,252,074.0

1,215,497.0

1,159,073.5

1,028,826.8

        Construction in Progress

89,389.0

69,340.0

57,120.0

84,053.3

84,606.9

        Other Property/Plant/Equipment

748.9

744.2

743.6

744.2

605.0

    Property/Plant/Equipment - Gross

2,594,697.9

2,518,267.2

2,443,303.6

2,467,973.2

2,239,728.2

    Accumulated Depreciation

-1,083,860.0

-1,046,712.0

-939,313.0

-908,684.1

-776,984.3

Property/Plant/Equipment - Net

1,510,837.9

1,471,555.2

1,503,990.6

1,559,289.1

1,462,743.9

Intangibles, Net

63,145.2

55,699.9

51,933.9

30,796.2

12,248.4

    LT Investment - Affiliate Companies

1,596.5

1,584.4

1,270.2

36,207.5

2,598.5

    LT Investments - Other

436,305.7

546,484.8

409,458.1

259,719.1

96,517.2

Long Term Investments

437,902.3

548,069.2

410,728.3

295,926.5

99,115.7

Note Receivable - Long Term

114,539.5

130,046.6

138,379.1

100,041.7

63,448.0

    Deferred Income Tax - Long Term Asset

11,066.9

8,169.1

7,108.7

1,764.7

-

    Other Long Term Assets

277,590.0

257,894.5

234,783.7

214,287.4

170,625.1

Other Long Term Assets, Total

288,656.9

266,063.6

241,892.4

216,052.1

170,625.1

Total Assets

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

Accounts Payable

301,211.2

326,598.2

455,332.6

15,201.8

14,896.3

Accrued Expenses

324,857.0

350,049.8

370,196.9

328,062.5

194,854.8

Notes Payable/Short Term Debt

66,507.2

94,532.5

104,113.1

38,199.5

80,997.8

Current Portion - Long Term Debt/Capital Leases

505.6

447.9

280.4

210.3

-

    Customer Advances

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

    Income Taxes Payable

222,932.3

128,418.8

187,609.9

220,427.5

135,654.4

    Other Payables

-

-

-

105,692.9

30,548.0

    Other Current Liabilities

-

-

2,698.5

16,895.6

17,752.7

Other Current liabilities, Total

232,267.0

151,934.8

262,016.5

349,231.7

192,371.9

Total Current Liabilities

925,348.0

923,563.2

1,191,939.4

730,905.8

483,120.8

 

 

 

 

 

 

    Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Long Term Debt

1,539.6

2,026.4

2,474.3

2,732.7

1,402.0

Total Debt

68,552.4

97,006.8

106,867.8

41,142.5

82,399.8

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

Deferred Income Tax

167,502.5

167,345.1

106,761.9

124,534.8

103,528.2

Minority Interest

42,130.0

27,112.2

27,563.8

20,117.4

20,218.5

    Reserves

2,219.8

2,256.4

1,957.0

1,258.1

76,280.5

    Pension Benefits - Underfunded

-

-

-

86,392.5

99,506.4

    Other Long Term Liabilities

82,139.7

68,688.9

105,959.8

25,050.8

27,524.9

Other Liabilities, Total

84,359.5

70,945.3

107,916.8

112,701.4

203,311.8

Total Liabilities

1,220,879.7

1,190,992.2

1,436,656.3

990,992.1

811,581.3

 

 

 

 

 

 

    Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

Common Stock

954,959.5

954,959.5

954,959.5

954,959.5

954,959.5

Additional Paid-In Capital

5,332.7

5,320.5

2,869.3

465,866.0

335,349.6

Retained Earnings (Accumulated Deficit)

3,330,585.7

2,779,281.3

2,277,114.7

2,134,736.0

2,061,348.6

Treasury Stock - Common

-216,827.0

-226,944.7

-226,944.7

-414,947.3

-321,903.9

Unrealized Gain (Loss)

-

-

-

3,135.0

16,938.3

    Translation Adjustment

-

-

-

-639.2

-1,147.5

    Other Equity

482,128.5

468,274.4

468,274.4

-

-

Other Equity, Total

482,128.5

468,274.4

468,274.4

-639.2

-1,147.5

Total Equity

4,556,179.4

3,980,891.0

3,476,273.2

3,143,110.0

3,045,544.5

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

5,777,059.1

5,171,883.2

4,912,929.4

4,134,102.1

3,857,125.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

127.6

127.2

128.7

130.8

133.2

Total Common Shares Outstanding

127.6

127.2

128.7

130.8

133.2

Treasury Shares - Common Stock Primary Issue

9.6

10.1

10.1

12.6

14.2

Employees

4,214

4,653

4,750

4,367

4,317

Number of Common Shareholders

104,382

132,863

105,512

107,629

120,524

Accumulated Intangible Amort, Suppl.

20,105.0

15,217.0

-

-

-

Deferred Revenue - Current

9,334.7

23,516.0

71,708.0

6,215.8

8,416.8

Total Long Term Debt, Supplemental

505.6

447.9

2,754.0

2,943.0

1,402.0

Long Term Debt Maturing within 1 Year

505.6

447.9

280.0

210.0

97.5

Long Term Debt Maturing in Year 2

-

-

448.0

280.0

97.5

Long Term Debt Maturing in Year 3

-

-

504.0

446.0

259.0

Long Term Debt Maturing in Year 4

-

-

504.0

501.0

259.0

Long Term Debt Maturing in 2-3 Years

-

-

952.0

726.0

356.5

Long Term Debt Maturing in 4-5 Years

-

-

504.0

501.0

259.0

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

1,018.0

1,506.0

689.0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.53

UK Pound

1

Rs.77.95

Euro

1

Rs.64.66

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.