MIRA
INFORM REPORT
|
Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
HANSOL PAPER CO., LTD. |
|
|
|
|
Registered Office : |
100, Euljiro, Jung-Gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
19.01.1965 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Public Subsidiary Company |
|
|
|
|
Line of Business : |
manufacturer
of paper |
|
|
|
|
No. of Employees : |
896 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
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
Hansol Paper Co., Ltd.
100, Euljiro, Jung-Gu
Seoul, 100845
Korea, Republic of
Tel: 82-2-32876040
Fax: 82-2-32876115
Registration data
Employees: 896
Company Type: Public
Subsidiary
Corporate Family: 13
Companies
Ultimate Parent: Hansol
Group
Traded: Korea
Stock Exchange: 004150
Incorporation Date:
19-Jan-1965
Auditor: KPMG LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: South
Korean Won
Annual Sales: 1,593.9 1
Net Income:
(5.2)
Total Assets:
2,254.7 2
Market Value: 298.5 (29-Jun-2012)
Business Description
HANSOL PAPER Co., Ltd is a Korea-based company engaged in the manufacture of paper. The Company mainly manufactures three categories of products: printing paper, including white paper and art paper for printing of general printing; industrial paper, such as paperboards, and special paper, including thermal paper, pressure sensitive paper, fancy paper and inkjet paper. The Company distributes its products within domestic market and to overseas markets. Through its subsidiaries, it also engages in the resort business. On February 23, 2011, the Company acquired a 99.94% stake in DAEHAN PAPERTECH CO.,LTD., a Korea-based manufacturer of corrugated cardboards. For the fiscal year ended 31 December 2010, Hansol Paper Co., Ltd.'s revenues increased 9% to W2.894T. Net income from continued operations decreased 54% to W18.23B. Revenues reflect increased domestic and foreign demand for finished goods of white paper and art paper in printing paper segment, white board paper in industrial paper segment. Net income was offset by lower gain on foreign exchange transaction and higher loss under equity method.
Industry
Industry Paper and Paper Products
ANZSIC 2006: 1510 - Pulp, Paper
and Paperboard Manufacturing
NACE 2002: 2112 - Manufacture
of paper and paperboard
NAICS 2002: 322121 - Paper
(except Newsprint) Mills
UK SIC 2003: 2112 - Manufacture
of paper and paperboard
US SIC 1987: 2621 - Paper Mills
Key Executives
|
Name |
Title |
|
Dong Gil Cho |
Chairman of the Board, Co-Chief Executive
Officer |
|
Jae Wu Seo |
Vice President |
|
Young Seok Sunwoo |
Chief Executive Officer |
|
Hyun Jung Shin |
President |
|
Seung-Ryong Choi |
Manager-Finance |
Significant Developments
|
* number of significant developments within the last 12 months
Financial Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152
Corporate Overview
Location
100, Euljiro, Jung-Gu
Seoul, 100845
Korea, Republic of
Tel: 82-2-32876040
Fax: 82-2-32876115
Quote Symbol - Exchange
004150 - Korea
Stock Exchange
Sales KRW(mil): 1,765,901.4
Assets KRW(mil): 2,597,423.5
Employees: 896
Fiscal Year End : 31-Dec-2011
Industry: Paper
and Paper Products
Incorporation Date: 19-Jan-1965
Company Type: Public
Subsidiary
Quoted Status: Quoted
President, Co-Chief
Executive Officer, Director: Gyo
Taek Gwon
Company Web Links
Corporate History/Profile
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1510 - Pulp, Paper and Paperboard Manufacturing
2411 - Photographic, Optical and Ophthalmic Equipment
Manufacturing
4400 - Accommodation
NACE 2002 Codes:
5510 - Hotels
2112 - Manufacture of paper and paperboard
3340 - Manufacture of optical instruments and photographic
equipment
NAICS 2002 Codes:
322121 - Paper (except Newsprint) Mills
333315 - Photographic and Photocopying Equipment Manufacturing
721110 - Hotels (except Casino Hotels) and Motels
322130 - Paperboard Mills
US SIC 1987:
2621 - Paper Mills
3861 - Photographic Equipment and Supplies
7011 - Hotels and Motels
2631 - Paperboard Mills
UK SIC 2003:
5510 - Hotels
2112 - Manufacture of paper and paperboard
33403 - Manufacture of photographic and cinematographic equipment
Business
Description
HANSOL PAPER Co.,
Ltd is a Korea-based company engaged in the manufacture of paper. The Company
mainly manufactures three categories of products: printing paper, including
white paper and art paper for printing of general printing; industrial paper,
such as paperboards, and special paper, including thermal paper, pressure
sensitive paper, fancy paper and inkjet paper. The Company distributes its
products within domestic market and to overseas markets. Through its
subsidiaries, it also engages in the resort business. On February 23, 2011, the
Company acquired a 99.94% stake in DAEHAN PAPERTECH CO.,LTD., a Korea-based
manufacturer of corrugated cardboards. For the fiscal year ended 31 December
2010, Hansol Paper Co., Ltd.'s revenues increased 9% to W2.894T. Net income
from continued operations decreased 54% to W18.23B. Revenues reflect increased
domestic and foreign demand for finished goods of white paper and art paper in
printing paper segment, white board paper in industrial paper segment. Net
income was offset by lower gain on foreign exchange transaction and higher loss
under equity method.
More Business
Descriptions
Manufacture of paper and paperboard, pulp; export and import of paper,
pulp, recycled paper and wood; engineering and environmental business
Wood-Free Paper, Coated Paper & White Board
Hansol Paper Co.,
Ltd. (Hansol) is one of the leading paper manufacturer in Korea. The company
along with its subsidiaries produces wide range of paper products. The company
owns and operates state of art facilities that include the Janghang mill, the
Daejeon mill and the Cheonan mill. Hansol produces about 1,370,000mt/yr of
paper annually. Hansol operates through three business divisions, namely,
Printing & Writing Paper, Duplex Board and Specialty Paper.Printing &
Writing Paper division of the company is engaged in manufacturing and sale of
printing paper such as uncoated wood free coated wood free. These products are
manufactured in Janghang mill located in the Korea. The Janghang mill equipped
with three paper machines and two off machine coaters. This mill is the largest
producer in the Korean coated and uncoated wood-free paper industry. It has an
annual production capacity of 750,000mt/yr which include 552,000mt of coated
wood free paper and 198,000 of uncoated wood free paper. The company’s Duplex
Board division manufactures and sells packaging paper such as duplex board
series and common type of pulp based board series. These products are used in
both food and non-food packaging. The company produces these products in
Daejeon mill, which is the largest duplex board mill in Korea with an annual
production capacity of 600,000 tons. This mill, using virgin pulp, also
produces SBS and FBB.Specialty Paper division of the company is engaged in the
manufacturing various papers which include thermal paper, colored and other
functional paper. The company produces this specialty paper in Cheonan mill.
This mill produces thermal paper (front and back coated), carbonless paper and
color inkjet paper with its coater machines and colored wood-free paper. This
mill also produces embossed color paper (fancy paper) by its paper
machines.Hansol‘s R&D is engaged in the development of papermaking
technologies. It contributes to the value management of the company. The
R&D Center presently consists of five parts that include papermaking,
coating and converting, printing, instrumental analysis, and strategic planning
and administration. The company key research area include the paper making
process, coating technology development, printing and application technology,
and planning and management. The company has spent KRW2987.11m for its R&D
during the fiscal year 2010.In February 2011, Hansol acquired 4,909,000 new
shares of Daehan Papertech Co., Ltd, a Korea-based manufacturer of corrugated
cardboard, for KRW49,090m, to make inroads into paper manufacturing business.
After the transaction, the company holds 4,909,000 shares, or 99.94% of Daehan
Papertech Co., Ltd.
Hansol Paper Co.,
Ltd. (Hansol) is a paper and paper material manufacturing company. The company,
together with its subsidiaries engaged in the production of paper related
products such as uncoated woodfree, white duplex board, thermal paper, fancy
paper, carbonless paper, ink-jet media and etc. The company principally
operates through three reportable segments, namely, Printing & Writing
Paper, Duplex Board and Specialty Paper. The company operates through three
mills namely, Janghang, Daejeon, and Cheonan mills which are equipped with
specialized production systems. Hansol produces about 1,370,000m/yr of paper in
total. The company operations are spanned across the US, Canada, China and Hong
Kong. The company is headquartered in Kangnam-ku, Seoul, Korea.The company
reported revenues of (Won) KRW 1,765,901.44 million during the fiscal year
ended December 2011, a decrease of 0.81% from 2010. The operating profit of the
company was KRW 113,333.60 million during the fiscal year 2011, a decrease of
4.83% from 2010. The net loss of the company was KRW 5,789.59 million during
the fiscal year 2011, as against a net profit of KRW 21,763.81 million during
2010.
Paper Mills
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
|
Corporate Family |
Corporate Structure News: |
|
|
Hansol Group |
|
Hansol Paper Co., Ltd. |
|
|
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Seoul |
Korea, Republic of |
Miscellaneous Financial Services |
|
3,500 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Electronic Instruments and Controls |
873.9 |
1,043 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Paper and Paper Products |
1,593.9 |
896 |
|
|
Subsidiary |
Tamyang |
Korea, Republic of |
Paper and Paper Products |
67.7 |
130 |
|
|
Subsidiary |
Fort Lee, NJ |
United States |
Paper and Paper Products |
22.5 |
15 |
|
|
Branch |
Cerritos, CA |
United States |
Paper and Paper Products |
2.0 |
3 |
|
|
Subsidiary |
Wonju, Kangwon-Do |
Korea, Republic of |
Construction Services |
|
|
|
|
Subsidiary |
Seongnam, Gyeonggi |
Korea, Republic of |
Paper and Paper Products |
|
600 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Chemical Manufacturing |
268.1 |
316 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Office Supplies |
245.7 |
304 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Construction - Supplies and Fixtures |
155.7 |
154 |
|
|
Subsidiary |
Incheon |
Korea, Republic of |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Retail (Catalog and Mail Order) |
|
|
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
Asia Paper Manufacturing Co., Ltd. |
Seoul, Korea, Republic of |
175 |
Public |
|
Hankuk Paper Manufacturing Co. Ltd. |
Seoul, Korea, Republic of |
483 |
Public |
|
Moorim Paper Co Ltd |
Jinju, Korea, Republic of |
572 |
Public |
|
Seha Corporation |
Daegu, Korea, Republic of |
297 |
Public |
|
Young Poong Corporation |
Seoul, Korea, Republic of |
523 |
Public |
Executive report
|
Board of
Directors |
|
|
|
|
|||||||||
|
Chairman of the Board, Co-Chief Executive Officer |
Chairman |
|
|||||||||
|
||||||||||||
|
Vice Chairman of the Board, Co-Chief Executive Officer |
Vice-Chairman |
|
|
||||||||
|
||||||||||||
|
President, Co-Chief Executive Officer, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executives |
|
|
|
|
|||||||||
|
Chairman of the Board, Co-Chief Executive Officer |
Chief Executive Officer |
|
|||||||||
|
||||||||||||
|
President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
|
|
||||||||
|
||||||||||||
|
Vice Chairman of the Board, Co-Chief
Executive Officer |
Chief Executive Officer |
|
|
||||||||
|
||||||||||||
|
Chief Executive Officer |
Chief Executive Officer |
|
|
||||||||
|
President |
President |
|
|
||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director-Sales-International |
Managing Director |
|
|
||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director-Accounting |
Managing Director |
|
|
||||||||
|
Managing Director-Human Resources & Public Relations |
Managing Director |
|
|
||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director-Cash Management |
Managing Director |
|
|
||||||||
|
Managing Director-Marketing |
Managing Director |
|
|
||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director-Business Development |
Managing Director |
|
|
||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Manager-Environment |
Environment/Safety Executive |
|
|
||||||||
|
Manager-Finance |
Finance Executive |
|
|
||||||||
|
Manager-Recruitment |
Human Resources Executive |
|
|
||||||||
|
Webmaster |
Human Resources Executive |
|
|
||||||||
|
Manager-Marketing |
Marketing Executive |
|
|
||||||||
|
Manager-Public Relations |
Public Relations Executive |
|
|
||||||||
|
General Counsel |
Legal Executive |
|
|
||||||||
|
Manager-Procurement |
Purchasing Executive |
|
|
||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
|
Manager |
Other |
|
|
||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
|
Vice President |
Other |
|
|
||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
Significant Developments
Hansol Paper Co., Ltd. Announces Changes in Shareholding Structure Jul 09, 2012
Hansol Paper Co., Ltd. announced that National Pension Service has acquired 2,733,392 shares of the Company, representing a 6.27% stake.
Hansol Paper Co., Ltd. to Sell Entire Shares of Samsung Everland Inc. Jun 07, 2012
Hansol Paper Co., Ltd. announced that it will sell its entire 6,700 shares of Samsung Everland Inc., a recreational facilities company, for KRW 12,194 million, on June 11, 2012, to improve its financial structure.
Hansol Paper Co., Ltd. Declares Annual Cash Dividend for FY 2011 Feb 16, 2012
Hansol Paper Co., Ltd. announced that it has declared an annual cash dividend of KRW 300 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 3.42% and the total amount of the cash dividend is KRW 12,136,671,600.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,488.2 |
1,440.3 |
1,717.7 |
1,342.9 |
1,415.0 |
|
Revenue |
1,488.2 |
1,440.3 |
1,717.7 |
1,342.9 |
1,415.0 |
|
Other Revenue |
105.7 |
99.4 |
359.1 |
606.1 |
470.9 |
|
Other Revenue, Total |
105.7 |
99.4 |
359.1 |
606.1 |
470.9 |
|
Total Revenue |
1,593.9 |
1,539.8 |
2,076.8 |
1,949.0 |
1,885.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,319.9 |
1,268.4 |
1,716.1 |
1,619.1 |
1,589.4 |
|
Cost of Revenue, Total |
1,319.9 |
1,268.4 |
1,716.1 |
1,619.1 |
1,589.4 |
|
Gross Profit |
168.3 |
171.9 |
1.6 |
-276.2 |
-174.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
125.3 |
125.2 |
147.7 |
155.5 |
149.9 |
|
Labor & Related Expense |
28.2 |
24.5 |
54.0 |
56.1 |
52.6 |
|
Advertising Expense |
1.5 |
2.4 |
3.4 |
7.0 |
6.9 |
|
Total Selling/General/Administrative Expenses |
155.0 |
152.1 |
205.1 |
218.6 |
209.5 |
|
Research & Development |
- |
- |
3.2 |
1.9 |
1.6 |
|
Depreciation |
1.8 |
2.0 |
5.3 |
5.6 |
6.3 |
|
Amortization of Intangibles |
- |
- |
5.1 |
4.1 |
4.7 |
|
Depreciation/Amortization |
1.8 |
2.0 |
10.4 |
9.6 |
11.0 |
|
Investment Income -
Operating |
3.4 |
-0.3 |
- |
- |
- |
|
Interest/Investment Income - Operating |
3.4 |
-0.3 |
- |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
3.4 |
-0.3 |
- |
- |
- |
|
Impairment-Assets Held for Use |
- |
3.4 |
- |
- |
- |
|
Impairment-Assets Held for Sale |
- |
0.4 |
- |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
2.0 |
0.4 |
- |
- |
- |
|
Unusual Expense (Income) |
2.0 |
4.2 |
- |
- |
- |
|
Other Operating Expense |
14.1 |
13.1 |
- |
- |
- |
|
Other, Net |
-4.6 |
-2.7 |
- |
- |
- |
|
Other Operating Expenses, Total |
9.5 |
10.4 |
- |
- |
- |
|
Total Operating Expense |
1,491.6 |
1,436.8 |
1,934.7 |
1,849.3 |
1,811.4 |
|
|
|
|
|
|
|
|
Operating Income |
102.3 |
103.0 |
142.1 |
99.8 |
74.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-72.8 |
-61.8 |
-70.0 |
-59.0 |
-61.1 |
|
Interest Expense, Net Non-Operating |
-72.8 |
-61.8 |
-70.0 |
-59.0 |
-61.1 |
|
Interest Income -
Non-Operating |
1.4 |
1.2 |
3.9 |
4.5 |
5.2 |
|
Investment Income -
Non-Operating |
-29.1 |
-63.1 |
10.9 |
-27.1 |
-15.2 |
|
Interest/Investment Income - Non-Operating |
-27.6 |
-61.9 |
14.8 |
-22.7 |
-10.0 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-100.4 |
-123.8 |
-55.3 |
-81.7 |
-71.1 |
|
Gain (Loss) on Sale of Assets |
- |
- |
-5.0 |
2.3 |
-2.9 |
|
Other Non-Operating Income (Expense) |
- |
- |
-22.1 |
-9.3 |
12.5 |
|
Other, Net |
- |
- |
-22.1 |
-9.3 |
12.5 |
|
Income Before Tax |
1.9 |
-20.8 |
59.8 |
11.0 |
13.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
10.0 |
-37.8 |
19.4 |
9.6 |
11.5 |
|
Income After Tax |
-8.1 |
17.0 |
40.4 |
1.4 |
1.5 |
|
|
|
|
|
|
|
|
Minority Interest |
2.9 |
1.8 |
-14.8 |
1.2 |
-0.9 |
|
Equity In Affiliates |
- |
- |
5.6 |
- |
-0.7 |
|
Net Income Before Extraord Items |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
Discontinued Operations |
- |
- |
0.1 |
-0.8 |
-2.2 |
|
Total Extraord Items |
- |
- |
0.1 |
-0.8 |
-2.2 |
|
Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.2 |
40.1 |
|
Basic EPS Excl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.07 |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Diluted Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
Diluted Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.3 |
40.1 |
|
Diluted EPS Excl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.06 |
0.00 |
|
Diluted EPS Incl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
Dividends per Share - Common Stock Primary Issue |
0.27 |
0.26 |
0.31 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
11.0 |
10.5 |
12.7 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
72.8 |
61.8 |
70.0 |
59.0 |
61.1 |
|
Depreciation, Supplemental |
58.7 |
56.0 |
71.0 |
65.0 |
73.8 |
|
Total Special Items |
2.0 |
4.2 |
7.1 |
1.5 |
5.3 |
|
Normalized Income Before Tax |
3.9 |
-16.6 |
66.8 |
12.6 |
18.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.7 |
1.5 |
1.6 |
-0.8 |
1.0 |
|
Inc Tax Ex Impact of Sp Items |
10.7 |
-36.4 |
21.0 |
8.8 |
12.6 |
|
Normalized Income After Tax |
-6.8 |
19.7 |
45.8 |
3.8 |
5.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-3.9 |
21.5 |
36.6 |
5.0 |
4.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
Diluted Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
2.1 |
3.8 |
2.4 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.5 |
4.8 |
3.0 |
5.9 |
|
Rental Expenses |
5.1 |
4.4 |
6.8 |
5.7 |
7.4 |
|
Advertising Expense, Supplemental |
1.5 |
2.4 |
3.4 |
7.0 |
6.9 |
|
Research & Development Exp, Supplemental |
- |
- |
3.2 |
1.9 |
4.0 |
|
Normalized EBIT |
107.7 |
106.8 |
142.1 |
99.8 |
74.6 |
|
Normalized EBITDA |
166.6 |
163.3 |
219.9 |
171.6 |
156.6 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
19.6 |
35.3 |
52.1 |
47.4 |
63.5 |
|
Short Term Investments |
26.7 |
0.7 |
11.7 |
28.6 |
59.3 |
|
Cash and Short Term Investments |
46.3 |
36.0 |
63.8 |
76.0 |
122.8 |
|
Accounts Receivable -
Trade, Gross |
305.8 |
320.2 |
410.6 |
338.5 |
402.8 |
|
Provision for Doubtful
Accounts |
-20.5 |
-18.3 |
-57.2 |
-30.7 |
-39.4 |
|
Trade Accounts Receivable - Net |
286.7 |
302.7 |
359.1 |
312.1 |
367.6 |
|
Other Receivables |
6.9 |
7.4 |
72.7 |
74.3 |
39.1 |
|
Total Receivables, Net |
293.6 |
310.1 |
431.7 |
386.4 |
406.7 |
|
Inventories - Finished Goods |
74.9 |
72.9 |
90.7 |
81.1 |
91.6 |
|
Inventories - Work In Progress |
12.3 |
14.1 |
20.7 |
11.9 |
13.9 |
|
Inventories - Raw Materials |
60.7 |
44.4 |
46.2 |
71.1 |
29.9 |
|
Inventories - Other |
27.6 |
27.4 |
72.7 |
33.2 |
67.6 |
|
Total Inventory |
175.4 |
158.8 |
230.3 |
197.2 |
203.0 |
|
Prepaid Expenses |
11.2 |
6.8 |
12.3 |
14.3 |
14.9 |
|
Deferred Income Tax - Current Asset |
- |
- |
9.8 |
16.4 |
15.0 |
|
Other Current Assets |
2.7 |
0.4 |
2.1 |
9.9 |
1.4 |
|
Other Current Assets, Total |
2.7 |
0.4 |
11.9 |
26.3 |
16.3 |
|
Total Current Assets |
529.2 |
512.0 |
749.9 |
700.2 |
763.7 |
|
|
|
|
|
|
|
|
Buildings |
574.2 |
568.4 |
526.1 |
392.9 |
529.6 |
|
Land/Improvements |
378.4 |
378.4 |
440.7 |
224.2 |
282.3 |
|
Machinery/Equipment |
871.6 |
832.1 |
1,468.1 |
945.5 |
1,223.7 |
|
Construction in
Progress |
63.8 |
43.3 |
88.6 |
66.9 |
51.8 |
|
Other
Property/Plant/Equipment |
323.5 |
312.3 |
25.2 |
33.6 |
43.1 |
|
Property/Plant/Equipment - Gross |
2,211.6 |
2,134.6 |
2,548.7 |
1,663.1 |
2,130.4 |
|
Accumulated Depreciation |
-674.2 |
-595.6 |
-841.5 |
-508.4 |
-607.5 |
|
Property/Plant/Equipment - Net |
1,537.3 |
1,539.0 |
1,707.2 |
1,154.7 |
1,523.0 |
|
Goodwill, Net |
0.6 |
- |
24.0 |
20.4 |
16.2 |
|
Intangibles, Net |
4.8 |
4.4 |
17.9 |
12.6 |
23.0 |
|
LT Investment - Affiliate Companies |
97.0 |
127.5 |
47.4 |
5.6 |
7.6 |
|
LT Investments - Other |
54.4 |
78.6 |
56.7 |
49.0 |
82.8 |
|
Long Term Investments |
151.4 |
206.1 |
104.1 |
54.6 |
90.4 |
|
Note Receivable - Long Term |
1.3 |
1.2 |
2.2 |
4.4 |
4.4 |
|
Deferred Income Tax - Long Term Asset |
22.7 |
26.7 |
- |
5.9 |
0.2 |
|
Other Long Term Assets |
7.5 |
8.2 |
90.3 |
83.3 |
109.5 |
|
Other Long Term Assets, Total |
30.2 |
35.0 |
90.3 |
89.1 |
109.8 |
|
Total Assets |
2,254.7 |
2,297.7 |
2,695.6 |
2,036.0 |
2,530.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
158.9 |
165.2 |
284.1 |
199.8 |
230.1 |
|
Accrued Expenses |
17.6 |
15.2 |
35.7 |
18.5 |
15.1 |
|
Notes Payable/Short Term Debt |
171.1 |
244.3 |
273.5 |
203.6 |
184.7 |
|
Current Portion - Long Term Debt/Capital Leases |
152.0 |
73.0 |
360.1 |
359.7 |
182.5 |
|
Customer Advances |
33.7 |
35.2 |
22.2 |
27.1 |
23.8 |
|
Security Deposits |
0.0 |
0.0 |
0.8 |
0.5 |
0.6 |
|
Income Taxes Payable |
0.6 |
7.6 |
14.0 |
8.3 |
1.6 |
|
Other Payables |
96.7 |
96.9 |
81.8 |
78.4 |
86.4 |
|
Deferred Income Tax - Current Liability |
- |
- |
- |
0.2 |
0.3 |
|
Other Current Liabilities |
9.6 |
4.3 |
10.5 |
5.8 |
6.7 |
|
Other Current liabilities, Total |
140.6 |
144.0 |
129.3 |
120.3 |
119.4 |
|
Total Current Liabilities |
640.1 |
641.7 |
1,082.8 |
901.8 |
731.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
475.1 |
423.1 |
423.8 |
333.7 |
715.3 |
|
Total Long Term Debt |
475.1 |
423.1 |
423.8 |
333.7 |
715.3 |
|
Total Debt |
798.2 |
740.4 |
1,057.4 |
897.0 |
1,082.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
37.6 |
38.9 |
36.1 |
16.4 |
3.6 |
|
Deferred Income Tax |
37.6 |
38.9 |
36.1 |
16.4 |
3.6 |
|
Minority Interest |
17.0 |
22.2 |
166.7 |
63.1 |
65.2 |
|
Reserves |
0.6 |
- |
3.1 |
3.1 |
3.7 |
|
Pension Benefits - Underfunded |
5.4 |
15.7 |
42.2 |
22.4 |
24.3 |
|
Other Long Term Liabilities |
422.8 |
453.1 |
334.4 |
300.2 |
417.6 |
|
Other Liabilities, Total |
428.8 |
468.9 |
379.8 |
325.8 |
445.6 |
|
Total Liabilities |
1,598.7 |
1,594.8 |
2,089.1 |
1,640.8 |
1,961.5 |
|
|
|
|
|
|
|
|
Common Stock |
189.3 |
192.2 |
187.3 |
173.2 |
233.0 |
|
Common Stock |
189.3 |
192.2 |
187.3 |
173.2 |
233.0 |
|
Additional Paid-In Capital |
258.9 |
260.7 |
309.0 |
285.1 |
396.0 |
|
Retained Earnings (Accumulated Deficit) |
214.8 |
237.0 |
18.1 |
1.2 |
-14.6 |
|
Treasury Stock - Common |
-15.4 |
-15.7 |
-16.2 |
-16.2 |
-21.7 |
|
Unrealized Gain (Loss) |
8.2 |
28.8 |
110.7 |
-33.5 |
-20.0 |
|
Translation Adjustment |
-0.1 |
-0.2 |
-1.6 |
-13.9 |
-3.7 |
|
Other Equity |
0.2 |
0.1 |
-0.8 |
-0.7 |
-0.1 |
|
Other Equity, Total |
0.1 |
-0.1 |
-2.4 |
-14.6 |
-3.8 |
|
Total Equity |
656.0 |
702.9 |
606.5 |
395.1 |
568.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,254.7 |
2,297.7 |
2,695.6 |
2,036.0 |
2,530.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
40.5 |
40.4 |
40.4 |
40.2 |
40.2 |
|
Total Common Shares Outstanding |
40.5 |
40.4 |
40.4 |
40.2 |
40.2 |
|
Treasury Shares - Common Stock Primary Issue |
3.2 |
3.2 |
3.2 |
3.5 |
3.5 |
|
Employees |
896 |
880 |
909 |
919 |
922 |
|
Number of Common Shareholders |
- |
20,134 |
14,785 |
12,947 |
14,525 |
|
Accumulated Intangible Amort, Suppl. |
0.5 |
0.3 |
- |
- |
- |
|
Deferred Revenue - Current |
33.7 |
35.2 |
22.2 |
27.1 |
23.8 |
|
Total Long Term Debt, Supplemental |
653.3 |
- |
- |
700.5 |
898.6 |
|
Long Term Debt Maturing within 1 Year |
177.1 |
- |
- |
366.2 |
182.5 |
|
Long Term Debt Maturing in Year 2 |
317.5 |
- |
- |
224.6 |
464.0 |
|
Long Term Debt Maturing in Year 3 |
138.6 |
- |
- |
77.6 |
193.6 |
|
Long Term Debt Maturing in 2-3 Years |
456.0 |
- |
- |
302.2 |
657.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
20.2 |
- |
- |
32.1 |
58.5 |
|
Interest Costs |
0.0 |
- |
- |
-0.8 |
-2.1 |
|
Total Capital Leases, Supplemental |
0.6 |
- |
- |
8.3 |
15.0 |
|
Capital Lease Payments Due in Year 1 |
0.6 |
- |
- |
3.7 |
4.8 |
|
Capital Lease Payments Due in Year 2 |
- |
- |
- |
3.7 |
5.0 |
|
Capital Lease Payments Due in Year 3 |
- |
- |
- |
1.7 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
- |
- |
5.4 |
5.0 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
- |
- |
- |
7.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-8.1 |
17.0 |
46.0 |
0.6 |
-1.4 |
|
Depreciation |
58.7 |
56.0 |
70.2 |
65.0 |
73.8 |
|
Depreciation/Depletion |
58.7 |
56.0 |
70.2 |
65.0 |
73.8 |
|
Amortization of Intangibles |
0.2 |
0.5 |
6.9 |
6.9 |
8.3 |
|
Amortization |
0.2 |
0.5 |
6.9 |
6.9 |
8.3 |
|
Deferred Taxes |
-0.1 |
0.6 |
8.5 |
-0.7 |
-1.9 |
|
Unusual Items |
49.1 |
-35.6 |
10.6 |
-10.2 |
13.1 |
|
Equity in Net Earnings (Loss) |
23.1 |
51.3 |
1.3 |
1.8 |
2.8 |
|
Other Non-Cash Items |
73.1 |
35.5 |
65.8 |
48.8 |
8.4 |
|
Non-Cash Items |
145.3 |
51.2 |
77.7 |
40.4 |
24.3 |
|
Accounts Receivable |
1.2 |
-2.3 |
28.9 |
-85.7 |
-79.1 |
|
Inventories |
-4.3 |
-17.2 |
57.0 |
-39.7 |
11.4 |
|
Prepaid Expenses |
-0.5 |
0.0 |
5.9 |
-3.7 |
-3.9 |
|
Other Assets |
-2.3 |
1.2 |
0.6 |
-9.8 |
-0.3 |
|
Accounts Payable |
-16.0 |
30.7 |
-2.3 |
30.5 |
61.7 |
|
Accrued Expenses |
2.3 |
0.8 |
0.9 |
5.9 |
-0.4 |
|
Taxes Payable |
-0.5 |
0.2 |
-0.8 |
8.9 |
-7.2 |
|
Other Liabilities |
-33.9 |
-19.6 |
-24.6 |
-7.3 |
-14.9 |
|
Other Assets & Liabilities, Net |
- |
- |
- |
-5.1 |
8.3 |
|
Other Operating Cash Flow |
-53.7 |
-54.9 |
0.1 |
- |
- |
|
Changes in Working Capital |
-107.8 |
-61.0 |
65.7 |
-106.0 |
-24.5 |
|
Cash from Operating Activities |
88.3 |
64.3 |
275.1 |
6.2 |
78.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-72.6 |
-65.9 |
-70.7 |
-76.3 |
-64.9 |
|
Purchase/Acquisition of Intangibles |
-2.5 |
-1.1 |
-10.8 |
-2.4 |
-2.4 |
|
Capital Expenditures |
-75.1 |
-67.0 |
-81.5 |
-78.7 |
-67.3 |
|
Sale of Fixed Assets |
7.1 |
10.2 |
16.3 |
24.8 |
2.1 |
|
Sale/Maturity of Investment |
1.8 |
13.7 |
50.5 |
46.1 |
81.4 |
|
Purchase of Investments |
-91.4 |
-33.5 |
-72.8 |
-64.0 |
-79.3 |
|
Sale of Intangible Assets |
1.9 |
- |
- |
- |
- |
|
Other Investing Cash Flow |
-0.3 |
-7.8 |
-25.1 |
-0.4 |
3.8 |
|
Other Investing Cash Flow Items, Total |
-81.0 |
-17.4 |
-31.2 |
6.5 |
8.0 |
|
Cash from Investing Activities |
-156.0 |
-84.4 |
-112.7 |
-72.2 |
-59.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
170.1 |
160.2 |
-357.2 |
-139.1 |
-251.2 |
|
Financing Cash Flow Items |
170.1 |
160.2 |
-357.2 |
-139.1 |
-251.2 |
|
Total Cash Dividends Paid |
-10.9 |
-14.0 |
-0.5 |
-1.6 |
-0.2 |
|
Sale/Issuance of
Common |
18.1 |
17.3 |
25.4 |
3.7 |
17.3 |
|
Repurchase/Retirement
of Common |
- |
- |
-30.2 |
-0.1 |
- |
|
Common Stock, Net |
18.1 |
17.3 |
-4.8 |
3.6 |
17.3 |
|
Options Exercised |
- |
0.3 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
18.1 |
17.5 |
-4.8 |
3.6 |
17.3 |
|
Short Term Debt Issued |
- |
- |
482.6 |
1,032.2 |
1,540.3 |
|
Short Term Debt
Reduction |
- |
- |
-538.7 |
-965.8 |
-1,550.9 |
|
Short Term Debt, Net |
- |
- |
-56.1 |
66.4 |
-10.6 |
|
Long Term Debt Issued |
- |
- |
322.2 |
169.6 |
263.2 |
|
Long Term Debt
Reduction |
-125.4 |
-122.0 |
-65.3 |
-32.8 |
-6.4 |
|
Long Term Debt, Net |
-125.4 |
-122.0 |
256.9 |
136.8 |
256.8 |
|
Issuance (Retirement) of Debt, Net |
-125.4 |
-122.0 |
200.9 |
203.3 |
246.2 |
|
Cash from Financing Activities |
51.9 |
41.8 |
-161.7 |
66.2 |
12.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
0.0 |
0.0 |
0.2 |
|
Net Change in Cash |
-15.8 |
21.6 |
0.7 |
0.2 |
31.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
36.2 |
13.1 |
46.8 |
54.0 |
32.3 |
|
Net Cash - Ending Balance |
20.3 |
34.7 |
47.5 |
54.2 |
64.0 |
|
Cash Interest Paid |
43.9 |
41.1 |
- |
- |
- |
|
Cash Taxes Paid |
11.6 |
15.0 |
- |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Goods |
1,152.8 |
1,073.5 |
1,423.1 |
1,065.1 |
1,153.7 |
|
Merchandise Revenues |
335.4 |
366.9 |
294.5 |
277.9 |
261.4 |
|
Other Revenues |
105.7 |
99.4 |
359.1 |
606.1 |
470.9 |
|
Adjustment for Revenues |
0.0 |
0.0 |
- |
- |
- |
|
Total Revenue |
1,593.9 |
1,539.8 |
2,076.8 |
1,949.0 |
1,885.9 |
|
|
|
|
|
|
|
|
Cost-finished Goods |
- |
- |
1,127.8 |
872.4 |
1,110.2 |
|
Cost-Merchandise |
- |
- |
246.6 |
218.5 |
64.0 |
|
Cost of Other Sales |
- |
- |
341.7 |
528.2 |
415.2 |
|
Cost of Revenue |
1,319.9 |
1,268.4 |
- |
- |
- |
|
Salaries |
22.6 |
19.8 |
41.5 |
41.9 |
39.4 |
|
Retirement Allowance |
2.8 |
2.4 |
5.0 |
7.3 |
7.0 |
|
Employee Benefits |
2.9 |
2.3 |
7.1 |
6.4 |
5.6 |
|
Retirement Bonus Payment |
- |
- |
0.4 |
0.5 |
0.5 |
|
Travel Expenses |
1.0 |
1.0 |
1.5 |
1.8 |
2.0 |
|
Vehicles Expense |
1.1 |
1.0 |
2.0 |
2.1 |
2.3 |
|
Communication Exp |
- |
- |
0.4 |
0.8 |
0.8 |
|
Taxes and Dues |
1.0 |
0.8 |
1.9 |
1.9 |
2.4 |
|
Insurance Expenses |
- |
- |
0.3 |
0.7 |
0.5 |
|
Commission Paid |
4.7 |
3.6 |
1.5 |
5.0 |
7.0 |
|
Rent |
5.1 |
4.4 |
6.8 |
5.7 |
7.4 |
|
Consumable Expenses |
- |
- |
0.7 |
0.4 |
0.5 |
|
Repair Expenses |
- |
- |
0.1 |
0.3 |
0.2 |
|
Depreciation Expense |
1.8 |
2.0 |
5.3 |
5.6 |
6.3 |
|
Amort of Intangibles |
- |
- |
5.1 |
4.1 |
4.7 |
|
Entertainment Expens |
1.6 |
1.6 |
3.1 |
3.3 |
2.3 |
|
Research&Survey Exp |
- |
- |
0.2 |
0.8 |
0.1 |
|
Education & Training |
1.1 |
0.7 |
0.9 |
1.2 |
1.1 |
|
Printing Expense |
- |
- |
0.3 |
0.3 |
0.3 |
|
Activity Expenses |
- |
- |
0.8 |
1.2 |
1.3 |
|
Conference Expense |
- |
- |
1.0 |
0.8 |
1.0 |
|
Advertising Expense |
- |
- |
2.2 |
3.0 |
4.3 |
|
Marketing Expense |
1.5 |
2.4 |
1.2 |
4.0 |
2.6 |
|
Shipping/Handling |
32.2 |
31.5 |
35.7 |
30.9 |
35.8 |
|
Utility Expense |
- |
- |
0.1 |
0.0 |
0.0 |
|
Exporting Expense |
67.2 |
68.9 |
58.6 |
71.2 |
73.4 |
|
Reforestation Expenses |
- |
- |
- |
0.1 |
0.4 |
|
Services Expense |
- |
- |
9.7 |
7.9 |
4.4 |
|
Finishd RE Maintenan |
- |
- |
0.6 |
0.5 |
0.6 |
|
Amort of Bad Debts |
- |
1.6 |
17.6 |
14.7 |
1.3 |
|
Research Expense |
- |
- |
3.0 |
1.1 |
1.4 |
|
Order Receipt Exp |
- |
- |
0.4 |
0.6 |
0.4 |
|
Miscellaneous Operating Expense |
- |
- |
3.6 |
4.1 |
4.6 |
|
Gain on Foreign Currency Transactions |
-9.2 |
-9.3 |
- |
- |
- |
|
Gain on Foreign Currency Translation |
-0.5 |
-1.1 |
- |
- |
- |
|
Rental Income |
-0.2 |
-0.5 |
- |
- |
- |
|
Reversal of Allowance for Doubtful Accou |
-3.4 |
- |
- |
- |
- |
|
Gain on Disposal of Property, Plant and |
0.0 |
-0.8 |
- |
- |
- |
|
Gain on Derivative Transactions |
- |
-0.4 |
- |
- |
- |
|
Other Operating Income |
-1.0 |
-2.2 |
- |
- |
- |
|
Adjustment for Other Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Outsourcing Service Expense |
5.0 |
5.3 |
- |
- |
- |
|
Other Miscellaneous Expenses |
5.3 |
4.6 |
- |
- |
- |
|
Adjustment for Selling and Administrativ |
0.0 |
0.0 |
- |
- |
- |
|
Loss on Foreign Currency Transactions |
10.5 |
9.7 |
- |
- |
- |
|
Loss on Foreign Currency Translation |
2.5 |
0.7 |
- |
- |
- |
|
Loss on Disposal of Trade Receivable |
0.8 |
0.8 |
- |
- |
- |
|
Loss on Disposal of Property, Plant and |
0.6 |
0.0 |
- |
- |
- |
|
Loss on Scraping of Property, Plant and |
0.6 |
0.4 |
- |
- |
- |
|
Loss on Disposal of Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Commission, OE |
3.8 |
2.6 |
- |
- |
- |
|
Donations Paid |
5.1 |
4.5 |
- |
- |
- |
|
Other Allowance for Doubtful Accounts |
0.1 |
5.0 |
- |
- |
- |
|
Loss on Derivative Transactions |
- |
0.2 |
- |
- |
- |
|
Impairment Loss on Investment Assets |
- |
0.4 |
- |
- |
- |
|
Impairment Loss on Intangible Assets |
- |
3.4 |
- |
- |
- |
|
Real Estate Investment Maintenance Expen |
1.0 |
0.7 |
- |
- |
- |
|
Other Operating Expense |
4.1 |
0.3 |
- |
- |
- |
|
Adjustment for Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
1,491.6 |
1,436.8 |
1,934.7 |
1,849.3 |
1,811.4 |
|
|
|
|
|
|
|
|
Interest Income |
1.4 |
1.2 |
3.9 |
4.5 |
5.2 |
|
Dividend Income |
0.2 |
0.1 |
0.3 |
0.4 |
0.8 |
|
G-Foreign Exchange Transaction |
3.3 |
8.0 |
41.7 |
23.7 |
4.8 |
|
G-Foreign Currency Translation |
0.3 |
0.6 |
12.4 |
8.5 |
3.1 |
|
Gain-Valuation of Derivatives |
- |
- |
0.4 |
2.5 |
- |
|
Revers-Doubtful Acct |
- |
- |
3.9 |
1.6 |
3.0 |
|
Gain Disp Inv Asset |
- |
- |
0.2 |
7.5 |
0.2 |
|
G-Dispose Securities avail. for Sale |
0.1 |
0.0 |
3.9 |
1.2 |
1.7 |
|
G-Reduction Loss of Sec. Avail-for-Sale |
- |
- |
0.0 |
- |
- |
|
Gain Dispose Tangible Assets |
- |
- |
0.6 |
6.4 |
0.9 |
|
Recovery of Provisions for Others |
- |
- |
0.1 |
- |
0.6 |
|
Recovery-Loss Reduct.of Tangible Asst. |
- |
- |
- |
1.3 |
5.6 |
|
Rental Income |
- |
- |
0.6 |
1.0 |
1.1 |
|
RE Delayed Fees |
- |
- |
0.0 |
0.1 |
0.3 |
|
Gain-Derivatives Transactions |
- |
- |
1.0 |
1.9 |
- |
|
G-Currency Futr Trad |
- |
- |
- |
- |
0.1 |
|
Other Non-Op Income |
- |
- |
3.3 |
2.1 |
4.2 |
|
Gain-ST Marketable Sec. Valuation |
- |
- |
0.0 |
- |
- |
|
Gain on Prior Period Error Correction |
- |
- |
- |
- |
3.5 |
|
Interest Expenses |
-72.8 |
-61.8 |
-70.0 |
-59.0 |
-61.1 |
|
Loss on Disp of AR |
- |
- |
-4.9 |
-3.8 |
-3.4 |
|
L-Foreign Exchange Translation |
-0.8 |
-0.2 |
-0.8 |
-20.4 |
-2.0 |
|
Loss-Valuation of Derivatives |
- |
- |
-0.6 |
0.0 |
0.0 |
|
L-Foreign Currency Transaction |
-4.4 |
-4.6 |
-36.3 |
-47.3 |
-5.2 |
|
Loss Disp Tang. Ast |
- |
- |
-0.3 |
-0.3 |
-0.3 |
|
Reduct Tangible Asst |
- |
- |
-0.7 |
- |
-1.9 |
|
Loss-Valuation of Tangible Assets |
- |
- |
-2.5 |
- |
- |
|
L-inventory Reduction |
- |
- |
-0.3 |
-0.3 |
-0.5 |
|
Loss on Scrap of Inventory |
- |
- |
-0.4 |
0.0 |
0.0 |
|
Disp of Inv. Assets |
- |
- |
-0.2 |
-1.4 |
-0.9 |
|
Loss-Derivatives Transaction |
- |
- |
-0.2 |
-1.5 |
-2.8 |
|
Donations Paid |
- |
- |
-0.6 |
-0.7 |
-1.3 |
|
L-Dev't Cost Valuatn |
- |
- |
-4.0 |
- |
-9.7 |
|
Loss-Reduction of Investment Assets |
- |
- |
-0.1 |
- |
- |
|
L-Dispose Securities avail. for Sale |
- |
- |
-1.3 |
-0.3 |
0.0 |
|
Loss-Reduct. of Sec. Available-Sale |
- |
- |
-0.3 |
- |
- |
|
Fee & Commission Paid |
- |
- |
-3.2 |
-2.6 |
- |
|
Invest.RE Maintenanc |
- |
- |
-0.5 |
-0.6 |
-2.1 |
|
Loss-Return of Membership Rights |
- |
- |
- |
0.0 |
- |
|
Bad Debt Expense |
- |
- |
-20.5 |
-10.6 |
- |
|
Depreciation-Suspended Assets |
- |
- |
-0.7 |
0.0 |
0.0 |
|
Provisions for Others |
- |
- |
-0.5 |
- |
- |
|
Other Non-Op Expense |
- |
- |
-4.0 |
-0.9 |
-2.3 |
|
Loss-Redemption of Debentures |
- |
- |
-0.4 |
- |
- |
|
Loss-Payment Guarantee |
- |
- |
- |
- |
0.0 |
|
Gain-Valuation of Equity Method Sec. |
- |
- |
0.6 |
- |
0.3 |
|
Loss under Equity Method |
-23.1 |
-51.3 |
-1.9 |
-1.8 |
-3.1 |
|
Gain-Disposal of Equity Method Sec. |
- |
1.1 |
- |
1.5 |
- |
|
Loss-Reduction of Equity Method Sec. |
-4.4 |
-16.8 |
- |
-1.4 |
- |
|
Adjustment for Finance Income |
0.0 |
0.0 |
- |
- |
- |
|
Loss on Disposal of Investments in Affil |
-0.3 |
- |
- |
- |
- |
|
Adjustment for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
1.9 |
-20.8 |
59.8 |
11.0 |
13.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
10.0 |
-37.8 |
19.4 |
9.6 |
11.5 |
|
Net Income After Taxes |
-8.1 |
17.0 |
40.4 |
1.4 |
1.5 |
|
|
|
|
|
|
|
|
Earning Before Acquisition of Subsidiary |
- |
- |
5.6 |
- |
-0.7 |
|
Minority Interest Gain |
2.9 |
1.8 |
-14.8 |
1.2 |
-0.9 |
|
Net Income Before Extra. Items |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
Discontinued Operations |
- |
- |
0.1 |
-0.8 |
-2.2 |
|
Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.2 |
40.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.13 |
0.47 |
0.77 |
0.07 |
0.00 |
|
Basic EPS Including ExtraOrdinary Item |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Diluted Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
Diluted Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.3 |
40.1 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.13 |
0.47 |
0.77 |
0.06 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
DPS-Common Stock |
0.27 |
0.26 |
0.31 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
11.0 |
10.5 |
12.7 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
3.9 |
-16.6 |
66.8 |
12.6 |
18.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
10.7 |
-36.4 |
21.0 |
8.8 |
12.6 |
|
Normalized Income After Taxes |
-6.8 |
19.7 |
45.8 |
3.8 |
5.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-3.9 |
21.5 |
36.6 |
5.0 |
4.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
Diluted Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
R&D Expense, Supplemental |
- |
- |
3.2 |
1.9 |
4.0 |
|
Advertising Expense |
1.5 |
2.4 |
3.4 |
7.0 |
6.9 |
|
Interest Expense, Supplemental |
72.8 |
61.8 |
70.0 |
59.0 |
61.1 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.5 |
4.8 |
3.0 |
5.9 |
|
Amort of Goodwill, Supplemental |
- |
- |
2.1 |
3.8 |
2.4 |
|
Rental Expense, Supplemental |
5.1 |
4.4 |
6.8 |
5.7 |
7.4 |
|
Depreciation, Supplemental |
58.7 |
56.0 |
71.0 |
65.0 |
73.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
19.6 |
35.3 |
52.1 |
47.4 |
63.5 |
|
ST Finl Assets |
24.1 |
0.3 |
10.2 |
27.9 |
42.0 |
|
Securities avail. for Sale |
- |
0.4 |
1.4 |
0.7 |
17.2 |
|
ST Securities Held to Maturities |
2.6 |
- |
- |
- |
- |
|
Trade Rcvb Gross |
305.8 |
320.2 |
410.6 |
338.5 |
402.8 |
|
Doubtful Account |
-20.5 |
-18.3 |
-57.2 |
-30.7 |
-39.4 |
|
CA Loans |
0.5 |
0.2 |
28.1 |
22.0 |
14.1 |
|
Derivatives |
- |
- |
1.6 |
0.5 |
0.7 |
|
Other Rcvbl |
6.4 |
7.2 |
43.9 |
51.8 |
24.6 |
|
Receivable-Recovery of Taxes |
- |
- |
0.2 |
0.4 |
0.5 |
|
Accrued Income |
1.5 |
0.9 |
5.6 |
4.3 |
4.2 |
|
Advance Payments |
1.3 |
3.7 |
8.8 |
5.6 |
3.1 |
|
Prepaid Expenses |
2.3 |
2.0 |
7.3 |
11.7 |
12.4 |
|
Prepaid Inc Tax |
5.8 |
0.1 |
- |
- |
- |
|
Security Deposit |
2.7 |
0.0 |
0.5 |
9.0 |
0.7 |
|
Prepaid VAT |
3.1 |
4.7 |
5.0 |
2.6 |
2.5 |
|
Other Curr Asset |
- |
0.4 |
0.0 |
0.4 |
- |
|
Dfrd Taxes |
- |
- |
9.8 |
16.4 |
15.0 |
|
Receivable-Capital Lease, ST |
- |
- |
0.5 |
- |
- |
|
ST Marketable Securities |
- |
- |
0.1 |
- |
- |
|
Finished Goods |
48.4 |
40.8 |
55.8 |
46.8 |
48.0 |
|
Merchandise |
26.5 |
32.2 |
32.8 |
33.1 |
42.7 |
|
Finished Homes |
- |
- |
2.2 |
1.2 |
0.9 |
|
Work in Progress |
12.3 |
14.1 |
20.7 |
11.9 |
13.9 |
|
Raw Materials |
53.0 |
36.8 |
34.5 |
60.5 |
19.2 |
|
Stored Goods |
8.4 |
8.3 |
19.5 |
14.4 |
18.0 |
|
Display Materials |
- |
- |
0.1 |
0.1 |
0.2 |
|
Suppl. Material |
7.6 |
7.6 |
11.6 |
10.4 |
10.5 |
|
Acct in Transit |
17.9 |
15.5 |
44.3 |
13.2 |
46.5 |
|
Adjustment for Current Financial Assets |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Inventories |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Assets |
529.2 |
512.0 |
749.9 |
700.2 |
763.7 |
|
|
|
|
|
|
|
|
LT Finl Assets |
- |
- |
0.8 |
0.4 |
0.1 |
|
Securities avail. for Sale |
41.3 |
61.5 |
48.4 |
43.9 |
72.1 |
|
Securities held till Maturity |
0.9 |
3.5 |
3.8 |
1.2 |
0.0 |
|
Derivatives, assets |
- |
- |
- |
1.6 |
- |
|
Securities under Equity Method |
97.0 |
127.5 |
47.4 |
5.6 |
7.6 |
|
LT Loan |
1.1 |
0.8 |
0.7 |
3.4 |
3.1 |
|
LT Trade Receivables |
0.2 |
0.0 |
1.1 |
0.0 |
0.0 |
|
LT Acct Rcvb Net |
- |
0.3 |
0.4 |
1.0 |
1.3 |
|
LT Prepaid Expen |
2.6 |
2.8 |
2.7 |
2.0 |
3.5 |
|
Guarantee Dep. |
3.5 |
4.9 |
13.8 |
11.1 |
16.5 |
|
Inv Real Estate |
12.0 |
12.9 |
1.7 |
1.7 |
7.6 |
|
LA Defer Tax Dbt |
22.7 |
26.7 |
- |
5.9 |
0.2 |
|
Other Inv Assets |
- |
- |
2.0 |
1.8 |
3.0 |
|
Other Investment Asset |
- |
- |
3.5 |
2.9 |
- |
|
Land |
378.4 |
378.4 |
440.8 |
224.2 |
282.3 |
|
Land-Reduction |
- |
- |
0.0 |
- |
- |
|
Buildings |
433.1 |
431.5 |
515.0 |
392.6 |
537.8 |
|
Buildings Depre. |
-99.0 |
-90.0 |
-109.4 |
-73.6 |
-89.9 |
|
Buildings-Reduction |
- |
- |
-0.8 |
- |
- |
|
Structures |
141.1 |
136.9 |
151.9 |
123.3 |
164.8 |
|
Structure Depre. |
-37.7 |
-33.7 |
-38.2 |
-26.7 |
-32.2 |
|
Machinery/Equip. |
871.6 |
832.1 |
1,283.1 |
814.2 |
1,058.9 |
|
Mach/Equip Depre |
-437.6 |
-379.1 |
-578.6 |
-325.5 |
-388.2 |
|
Machinery & Equipment-Reduction |
- |
- |
- |
- |
0.0 |
|
Machinery & Equipment-Government Subsidy |
- |
- |
0.0 |
- |
- |
|
Transport Equip. |
- |
- |
11.7 |
9.9 |
12.1 |
|
Transport Deprec |
- |
- |
-8.5 |
-6.2 |
-7.1 |
|
Tools/Equip./Fix |
- |
- |
173.5 |
121.4 |
152.6 |
|
Tool/Equip Depr. |
- |
- |
-106.2 |
-68.7 |
-79.8 |
|
Tools & Equipments-Government Subsidy |
- |
- |
-0.2 |
- |
- |
|
Usage Rights Adjustment, Total |
- |
- |
-140.0 |
-123.1 |
-173.0 |
|
Other Tangible Assets |
323.5 |
312.3 |
0.7 |
11.1 |
12.7 |
|
Other Tangible Assets-Depreciation |
-100.0 |
-92.8 |
-0.6 |
-7.6 |
-10.4 |
|
Construction in Progress |
63.8 |
43.3 |
27.4 |
38.5 |
13.2 |
|
Construction in Progress-Government Subs |
- |
- |
-1.2 |
- |
- |
|
Fields |
- |
- |
48.5 |
15.8 |
21.6 |
|
Landscaping |
- |
- |
3.8 |
3.1 |
4.2 |
|
Course |
- |
- |
70.0 |
63.4 |
84.0 |
|
Forestation |
- |
- |
10.1 |
9.4 |
12.8 |
|
Slopes |
- |
- |
24.6 |
22.5 |
30.3 |
|
Woolen Fabric |
- |
- |
- |
0.3 |
0.4 |
|
Forrestry Use Rights |
0.7 |
0.9 |
17.0 |
11.9 |
21.6 |
|
Goodwill |
0.6 |
- |
24.0 |
20.4 |
16.2 |
|
Usufruct on Donated Assets |
- |
- |
0.3 |
2.0 |
5.1 |
|
Indust.-Patent |
- |
- |
0.2 |
0.0 |
0.3 |
|
Development |
- |
- |
0.6 |
0.6 |
1.0 |
|
Heat Facility Rt |
- |
- |
- |
- |
0.1 |
|
Other Non-Current Assets |
0.6 |
0.6 |
- |
- |
- |
|
Adjustment for Property, Plant & Equipme |
0.0 |
0.0 |
- |
- |
- |
|
Membership Rights |
4.0 |
3.5 |
- |
- |
- |
|
Surface Rights |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Intangible Assets |
0.0 |
0.0 |
- |
- |
- |
|
Non-Current Deposits |
0.2 |
0.7 |
- |
- |
- |
|
Prepaid Expenses for Rent |
0.8 |
- |
- |
- |
- |
|
Adjustment for Other Non-Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Assets |
2,254.7 |
2,297.7 |
2,695.6 |
2,036.0 |
2,530.4 |
|
|
|
|
|
|
|
|
Trade Acct. Pay. |
158.9 |
165.2 |
284.1 |
199.8 |
230.1 |
|
ST Borrowings |
146.0 |
194.1 |
273.5 |
203.6 |
184.7 |
|
Derivatives in Liabilities, Current |
- |
- |
0.0 |
0.0 |
- |
|
Accounts Payable |
96.7 |
96.9 |
81.8 |
78.4 |
86.4 |
|
Advance Received |
10.6 |
9.8 |
21.1 |
26.3 |
21.1 |
|
Deposit Withheld |
5.1 |
4.1 |
6.9 |
5.7 |
6.4 |
|
Accrued Expenses |
17.3 |
14.5 |
32.9 |
15.4 |
12.7 |
|
Inc. Taxes Pay. |
0.6 |
7.6 |
14.0 |
8.3 |
1.6 |
|
Bonds, Current Liabilities |
- |
- |
117.4 |
- |
- |
|
Current LT Liab. |
39.2 |
2.6 |
242.7 |
359.7 |
182.5 |
|
Unearned Income |
23.1 |
25.4 |
1.2 |
0.8 |
2.7 |
|
Security Deposit-Lease |
- |
- |
0.1 |
0.2 |
0.3 |
|
Security Deposit Withheld |
- |
- |
0.7 |
0.3 |
0.4 |
|
Deferred Income Tax Credits |
- |
- |
- |
0.2 |
0.3 |
|
Provisions for Other Estimated Liabiliti |
- |
- |
1.3 |
0.1 |
0.3 |
|
Other Current Liabilities |
4.5 |
0.2 |
2.3 |
- |
- |
|
Taxes Withheld |
- |
- |
2.9 |
3.1 |
2.4 |
|
Current Bonds |
25.0 |
50.2 |
- |
- |
- |
|
Current Portion of Bonds |
112.8 |
70.4 |
- |
- |
- |
|
Adjustment for Current Financial Liabili |
0.0 |
0.0 |
- |
- |
- |
|
Value Added Taxes Withholdings |
0.3 |
0.8 |
- |
- |
- |
|
Guarantee Deposits Withholdings, Current |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liabilities |
640.1 |
641.7 |
1,082.8 |
901.8 |
731.8 |
|
|
|
|
|
|
|
|
Bonds |
435.3 |
382.1 |
242.4 |
234.8 |
569.4 |
|
LT Borrowings |
39.9 |
41.0 |
181.4 |
98.9 |
146.0 |
|
Total Long Term Debt |
475.1 |
423.1 |
423.8 |
333.7 |
715.3 |
|
|
|
|
|
|
|
|
LT Accounts Pay |
2.1 |
7.7 |
9.5 |
6.7 |
20.6 |
|
Rsv-Repair |
- |
- |
3.1 |
3.1 |
3.7 |
|
Rent Deposits |
1.1 |
1.1 |
2.0 |
6.0 |
16.3 |
|
Security Deposit |
- |
- |
322.9 |
287.5 |
380.8 |
|
Retire Reserve |
- |
- |
73.1 |
22.4 |
24.3 |
|
Deposit-Retirement Insurance |
- |
- |
-27.3 |
- |
- |
|
Plan Assets |
- |
- |
-3.2 |
- |
- |
|
Transfer to National Pension Fund |
- |
- |
-0.4 |
- |
- |
|
LL Defer Tax Crd |
37.6 |
38.9 |
36.1 |
16.4 |
3.6 |
|
Minority Int. |
17.0 |
22.2 |
166.7 |
63.1 |
65.2 |
|
Non-Current Fixed Benefit Liabilities |
5.4 |
15.7 |
- |
- |
- |
|
Other Non-Current Liabilities |
106.6 |
107.0 |
- |
- |
- |
|
Adjustment for Non-Current Financial Lia |
0.0 |
0.0 |
- |
- |
- |
|
Provision for Restoration in Non-Current |
0.6 |
- |
- |
- |
- |
|
Non-Current Guarantee Deposits Withholdi |
313.1 |
337.3 |
- |
- |
- |
|
Adj. for Other Non-current Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Total Liabilities |
1,598.7 |
1,594.8 |
2,089.1 |
1,640.8 |
1,961.5 |
|
|
|
|
|
|
|
|
Common Stock |
189.3 |
192.2 |
187.3 |
173.2 |
233.0 |
|
Consolidated Capital Surplus |
- |
- |
308.9 |
285.0 |
395.8 |
|
Retained Earning |
- |
- |
18.1 |
1.2 |
-14.6 |
|
Treasury Stock |
-15.4 |
-15.7 |
-16.2 |
-16.2 |
-21.7 |
|
Loss on Disposal of Treasury Stocks |
- |
- |
-0.2 |
0.0 |
-0.2 |
|
Discount Stk Iss |
- |
- |
-0.1 |
0.0 |
-0.1 |
|
Stock Options |
- |
- |
0.3 |
0.2 |
0.4 |
|
Other Capital Adjustment |
- |
- |
-0.7 |
-0.7 |
- |
|
Gains on Valuation of Available for Sale |
6.1 |
24.8 |
- |
- |
- |
|
L-Valuation Securities avail. for Sale |
- |
- |
-22.4 |
-34.3 |
-20.9 |
|
Capital Change under Equity Method |
2.2 |
4.0 |
1.0 |
1.3 |
1.3 |
|
Capital Change under Equity Method(Loss) |
0.0 |
0.0 |
-0.5 |
-0.4 |
-0.3 |
|
Loss-Valuation of Derivatives |
- |
- |
0.1 |
0.0 |
- |
|
Gain-Revaluation of Tangible Assets |
- |
- |
132.5 |
- |
- |
|
Foreign Currency Translation Debit |
- |
- |
- |
-13.9 |
- |
|
Currency Translation from Overseas Bu |
- |
- |
- |
0.6 |
5.6 |
|
Currency Translation from Overseas Bu |
-0.1 |
-0.2 |
-1.6 |
-0.6 |
-9.3 |
|
Capital Surplus |
258.9 |
260.7 |
- |
- |
- |
|
Retained Earnings or Accumulated Deficit |
214.8 |
237.0 |
- |
- |
- |
|
Capital Adjustment |
0.2 |
0.1 |
- |
- |
- |
|
Adjustment for Other Capital |
0.0 |
0.0 |
- |
- |
- |
|
Total Equity |
656.0 |
702.9 |
606.5 |
395.1 |
568.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,254.7 |
2,297.7 |
2,695.6 |
2,036.0 |
2,530.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
40.5 |
40.4 |
40.4 |
40.2 |
40.2 |
|
Total Common Shares Outstanding |
40.5 |
40.4 |
40.4 |
40.2 |
40.2 |
|
T/S-Common Stock |
3.2 |
3.2 |
3.2 |
3.5 |
3.5 |
|
Deferred Revenue, Current |
33.7 |
35.2 |
22.2 |
27.1 |
23.8 |
|
Accumulated Intangible Amort, Suppl. |
0.5 |
0.3 |
- |
- |
- |
|
Full-Time Employees |
896 |
880 |
909 |
919 |
922 |
|
Number of Common Shareholders |
- |
20,134 |
14,785 |
12,947 |
14,525 |
|
LT Debt 1 yr |
177.1 |
- |
- |
366.2 |
182.5 |
|
LT Debt 2 yrs |
317.5 |
- |
- |
224.6 |
464.0 |
|
LT Debt 3 yrs |
138.6 |
- |
- |
77.6 |
193.6 |
|
LT Debt thereafter |
20.2 |
- |
- |
32.1 |
58.5 |
|
Total Long Term Debt, Supplemental |
653.3 |
- |
- |
700.5 |
898.6 |
|
Capital Lease Maturing within 1 Year |
0.6 |
- |
- |
3.7 |
4.8 |
|
Capital Lease Maturing in 2 Years |
- |
- |
- |
3.7 |
5.0 |
|
Capital Lease Maturing in 3 Years |
- |
- |
- |
1.7 |
- |
|
Capital Lease Maturing Remaining |
- |
- |
- |
- |
7.3 |
|
Interest Costs |
0.0 |
- |
- |
-0.8 |
-2.1 |
|
Total Capital Leases |
0.6 |
- |
- |
8.3 |
15.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-8.1 |
17.0 |
46.0 |
0.6 |
-1.4 |
|
Depreciation |
58.7 |
56.0 |
70.2 |
65.0 |
73.8 |
|
Accrued Interest Expense |
72.8 |
61.8 |
0.0 |
- |
1.6 |
|
Amort. Intangible |
- |
- |
6.9 |
6.9 |
8.3 |
|
Retirement Allowance |
4.6 |
6.6 |
13.1 |
14.9 |
13.2 |
|
Prov. Doubtful Act |
- |
1.6 |
17.6 |
14.7 |
1.3 |
|
Other Prov. Doubtful |
0.1 |
5.0 |
20.5 |
10.6 |
1.9 |
|
L-Foreign Exchange Translation |
3.4 |
0.9 |
0.8 |
20.3 |
1.9 |
|
Amortization-Suspended Assets |
- |
- |
0.7 |
- |
0.0 |
|
Valuation Inventory |
- |
0.4 |
0.0 |
0.3 |
0.2 |
|
L-Reduction Inventory |
- |
- |
0.3 |
0.3 |
0.5 |
|
L-Scrap Inventory |
- |
- |
0.4 |
0.0 |
0.0 |
|
Disposition of Investment Assets |
- |
- |
0.2 |
1.4 |
0.9 |
|
Loss-Reduction of Investment Assets |
- |
- |
0.1 |
- |
- |
|
Loss-Redemption of Bond |
- |
- |
0.4 |
- |
- |
|
Amort. of Bond Discount |
- |
- |
0.5 |
0.6 |
0.8 |
|
Loss on AR Disp |
- |
- |
4.9 |
3.8 |
3.4 |
|
Amortization-Present Value Discount |
- |
- |
0.4 |
0.4 |
0.1 |
|
Amortization-LT Prepaid Expense |
0.8 |
1.1 |
1.0 |
1.1 |
- |
|
L-Dispose Securities avail. for Sale |
- |
- |
1.3 |
0.3 |
0.0 |
|
Loss-Reduct. of Sec. Available-for-Sale |
- |
- |
0.3 |
- |
- |
|
Loss-Reduct. of Sec. under Equity Method |
4.4 |
16.8 |
- |
1.4 |
- |
|
Loss-Valuation of Derivatives |
- |
- |
0.6 |
0.0 |
- |
|
Disp Tang Asst Loss |
0.6 |
0.0 |
0.3 |
0.3 |
0.3 |
|
Loss Decr. Tang. Ast |
0.6 |
0.4 |
0.7 |
- |
6.8 |
|
Loss-Valuation of Tangible Assets |
- |
- |
2.5 |
- |
- |
|
Loss-Derivatives Transaction |
- |
- |
- |
1.5 |
- |
|
Error Adj. Expense |
- |
- |
1.1 |
1.3 |
1.0 |
|
Account Adjustment-Hedge |
- |
- |
21.7 |
- |
- |
|
Donations |
- |
1.4 |
- |
- |
0.9 |
|
Loss-Membership Right Return |
- |
- |
- |
0.0 |
- |
|
Provisions for Others |
- |
- |
0.8 |
- |
- |
|
Othr Non-Cash Inflow |
- |
- |
0.0 |
0.1 |
1.4 |
|
L-Equity Method Valu |
23.1 |
51.3 |
1.9 |
1.8 |
3.1 |
|
Loss-Reduction of Intangible Assets |
- |
3.4 |
4.0 |
- |
9.7 |
|
G-Foreign Exchange Translation |
-0.8 |
-1.7 |
-10.9 |
-8.5 |
-8.1 |
|
Others |
- |
- |
3.6 |
- |
- |
|
Interest Received |
-1.4 |
-1.2 |
- |
-0.3 |
-0.4 |
|
G-Dispose Securities avail. for Sale |
-0.1 |
0.0 |
-3.9 |
-1.2 |
-1.7 |
|
Gain-Disp. of Securities/Equity Method |
0.0 |
-1.1 |
- |
-1.5 |
- |
|
Recovery-Sec. Avail-for-Sale Reduction |
- |
- |
0.0 |
-0.2 |
- |
|
Reverse-L Reduce Secs avail. for Sale |
- |
- |
- |
-1.3 |
-5.6 |
|
Gain Disp of Inv Ast |
- |
- |
-0.2 |
-7.5 |
-0.2 |
|
Gain Disp Tang. Ast |
0.0 |
-0.8 |
-0.6 |
-6.4 |
-0.9 |
|
Reversal-doubtful Accounts |
-3.4 |
- |
-3.9 |
-1.6 |
-2.6 |
|
Gain-Derivatives Valuation |
- |
- |
-0.4 |
-2.5 |
- |
|
Gain-Derivatives Transaction |
- |
- |
- |
-1.9 |
-0.1 |
|
Recovery-Other Liabilities Reserve |
- |
- |
-0.3 |
-0.3 |
-0.6 |
|
Equity Earnings |
- |
- |
-0.6 |
- |
-0.3 |
|
Gain on Valuation of Inventories |
- |
- |
- |
- |
-0.4 |
|
Reversal-PV Discount |
- |
- |
0.0 |
-0.1 |
-0.1 |
|
Recovery-Inventory Valuation Loss |
- |
- |
-0.6 |
- |
- |
|
Misc Gains |
- |
- |
-0.8 |
- |
-0.1 |
|
Othr Non-Cash Outflw |
- |
- |
-0.4 |
-1.4 |
-0.2 |
|
Trade Receivables |
42.9 |
-55.9 |
- |
- |
- |
|
Gain-Valu. of ST Marketable Securities |
- |
- |
0.0 |
- |
- |
|
G Prior Period Error |
- |
- |
- |
- |
-3.5 |
|
Trade Receivables |
- |
- |
11.4 |
-38.7 |
-79.5 |
|
LT Trade Receivable |
- |
- |
0.7 |
- |
- |
|
Account Receivables |
1.3 |
-2.3 |
18.8 |
-40.8 |
-1.7 |
|
LT Account Receivable |
- |
- |
- |
- |
5.0 |
|
LT Account Receivable, Asset |
0.3 |
0.4 |
-0.1 |
- |
- |
|
Accrued Income |
-0.4 |
-0.4 |
-1.7 |
-5.8 |
-2.7 |
|
Provisions for Others, A/L |
- |
- |
0.2 |
- |
- |
|
Advance Payments |
7.3 |
-0.2 |
3.5 |
-4.0 |
1.4 |
|
Prepaid Expenses |
-0.5 |
0.0 |
-1.1 |
0.0 |
-2.1 |
|
Security Deposits |
- |
- |
0.2 |
-9.8 |
-0.3 |
|
Corporate Tax Refundable |
- |
- |
0.3 |
-0.4 |
-0.2 |
|
Prepaid VAT |
- |
- |
5.2 |
-0.8 |
1.0 |
|
Prepaid Construction Expenses |
- |
- |
1.7 |
-2.9 |
-2.9 |
|
Inventories |
-11.7 |
-17.0 |
53.5 |
-35.7 |
10.0 |
|
Receivable-Capital Lease |
- |
- |
-0.4 |
- |
- |
|
Other Current Assets |
-2.3 |
- |
0.4 |
- |
- |
|
Derivatives in Assets, ST |
- |
- |
0.5 |
- |
- |
|
Deferred Income Tax Assets |
-0.1 |
- |
7.5 |
-5.8 |
-2.5 |
|
LT Trade Payables |
-4.2 |
0.1 |
- |
- |
- |
|
Trade Payables |
-8.2 |
24.0 |
6.2 |
27.6 |
39.4 |
|
Accounts Payable |
2.2 |
6.6 |
-9.2 |
2.9 |
23.0 |
|
Long-Term Accounts Payable |
- |
- |
0.7 |
- |
-0.7 |
|
Accrued Expenses |
2.3 |
0.8 |
0.9 |
5.9 |
-0.4 |
|
Advance Received |
-0.8 |
-0.3 |
-11.1 |
14.5 |
-2.2 |
|
Deposits Withheld |
1.1 |
-0.2 |
-1.4 |
1.5 |
0.9 |
|
Unearned Income |
-27.2 |
- |
0.3 |
-1.4 |
2.4 |
|
VAT Taxes Withheld |
-0.5 |
0.2 |
-5.4 |
0.7 |
0.0 |
|
Accrued Income Tax |
- |
- |
4.6 |
8.2 |
-7.2 |
|
Security Deposits |
- |
- |
0.3 |
0.1 |
-0.1 |
|
LT Security Deposit Withheld |
- |
- |
- |
-7.3 |
0.0 |
|
Error Adjustment Allowance |
- |
- |
-1.0 |
-0.7 |
-0.8 |
|
LT Account Receivable, Liabilities |
- |
- |
0.3 |
- |
- |
|
Reserve-Severance & Retirement Benefit |
- |
- |
0.4 |
- |
- |
|
Reserve-National Pension |
- |
0.0 |
0.0 |
- |
- |
|
Deposits-Retirement Insurance |
- |
- |
-3.0 |
-6.6 |
3.9 |
|
Payment-Retirement Bonus |
-7.0 |
-1.5 |
-10.0 |
-7.3 |
-19.0 |
|
Retirement Pension Operating Fund |
- |
- |
0.4 |
- |
- |
|
Deferred Tax Liab. |
0.0 |
0.6 |
1.0 |
5.1 |
0.6 |
|
Change in Assets & Liabilities |
- |
- |
- |
-5.1 |
8.3 |
|
Dividend Received from Affiliates |
- |
- |
0.1 |
- |
- |
|
Cash-Interest Received |
1.4 |
0.7 |
- |
- |
- |
|
Cash-Interest Paid |
-43.9 |
-41.1 |
- |
- |
- |
|
Cash-Dividend Income |
0.4 |
0.5 |
- |
- |
- |
|
Cash-Tax Paid |
-11.6 |
-15.0 |
- |
- |
- |
|
Corporate Taxes Expense |
10.0 |
- |
- |
- |
- |
|
Amortization of Intangible Assets |
0.2 |
0.5 |
- |
- |
- |
|
Loss on Disposal of Trade Receivables |
0.8 |
0.8 |
- |
- |
- |
|
Loss on Disposal of Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Impairment Losses on Investment Securiti |
- |
0.4 |
- |
- |
- |
|
Loss on Disposal of Investment in Affili |
0.3 |
- |
- |
- |
- |
|
Other Added Expense |
0.0 |
- |
- |
- |
- |
|
Recovery of Provision in Loss on Valuati |
-0.4 |
- |
- |
- |
- |
|
Dividend Income |
-0.2 |
-0.1 |
- |
- |
- |
|
Corporate Taxes Income |
- |
-37.8 |
- |
- |
- |
|
Deposits Received for Guarantees |
- |
0.0 |
- |
- |
- |
|
Prepaid Income Taxes |
0.0 |
- |
- |
- |
- |
|
Current Derivatives Assets |
- |
1.2 |
- |
- |
- |
|
Guarantee Deposits Withholdings |
0.0 |
0.0 |
- |
- |
- |
|
Non-Current Other Payables |
-5.8 |
- |
- |
- |
- |
|
Rental Guarantee Depsits |
-0.1 |
-0.4 |
- |
- |
- |
|
Payment of Plan Assets |
-12.6 |
-2.2 |
- |
- |
- |
|
Other Non-Current Liabilities |
- |
-17.2 |
- |
- |
- |
|
Adjustment for Cash Flow from Operating |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Operating Activities |
88.3 |
64.3 |
275.1 |
6.2 |
78.6 |
|
|
|
|
|
|
|
|
Dec-ST Finl Assets |
0.2 |
0.2 |
43.6 |
4.8 |
69.8 |
|
Disposal-ST Investment Assets |
- |
- |
0.4 |
- |
- |
|
Dec-ST Mkt Securities |
- |
- |
- |
0.0 |
0.4 |
|
Dec-ST Loans |
0.7 |
0.2 |
16.1 |
11.0 |
23.8 |
|
Dec-Account Receivables |
- |
- |
- |
0.0 |
0.0 |
|
Dec-LT Finl Assets |
0.3 |
0.0 |
0.1 |
0.2 |
0.4 |
|
Acq-Securities avail. for Sale |
- |
- |
5.6 |
29.9 |
4.4 |
|
Proceeds from Sale of Equity Method Secu |
- |
12.3 |
- |
- |
- |
|
Disposal-Investment RE |
- |
- |
- |
10.9 |
1.0 |
|
Dec-LT Loans |
0.0 |
0.1 |
0.3 |
27.3 |
7.5 |
|
Dec-Guarantee Deposits |
8.5 |
0.1 |
- |
2.2 |
8.0 |
|
Increase in Government Subsidies |
- |
- |
- |
0.5 |
0.1 |
|
Disposal-Land |
- |
- |
0.4 |
15.2 |
0.0 |
|
Disposal-Building |
- |
- |
1.5 |
3.9 |
0.1 |
|
Disposal-Machinery |
- |
- |
0.3 |
0.0 |
0.0 |
|
Disposal-Vehicles |
- |
- |
0.1 |
0.2 |
0.2 |
|
Disposal-Tools |
- |
- |
0.4 |
0.2 |
1.6 |
|
Disposal-Timberlands |
- |
- |
0.0 |
4.0 |
0.0 |
|
Disposal-Forest in Plantation |
- |
- |
0.0 |
0.2 |
0.1 |
|
Dec-Other Investment Assets |
- |
- |
0.8 |
- |
3.3 |
|
Disp-Other Tangible Assets |
- |
- |
- |
1.1 |
0.0 |
|
disp-Intangible Assets |
1.9 |
- |
- |
- |
- |
|
Dec-Currency Futures |
- |
- |
- |
0.2 |
2.2 |
|
Disposal-Construction in Progress |
- |
- |
13.5 |
- |
- |
|
Inc-ST Finl Assets |
-1.8 |
- |
-23.3 |
-29.8 |
-72.5 |
|
Increase-ST Investment Assets |
- |
- |
-1.8 |
- |
- |
|
Incr-ST Loans |
-0.8 |
- |
-36.1 |
-30.1 |
-23.4 |
|
Incr-Accounts Receivable |
- |
- |
- |
0.0 |
0.0 |
|
Increase-Advanced Payment |
- |
-6.9 |
- |
- |
- |
|
Incr-LT Finl Assets |
-0.3 |
-0.3 |
-0.1 |
-0.5 |
0.0 |
|
Acq-Securities avail. for Sale |
-4.9 |
-7.7 |
-3.5 |
-29.9 |
-1.4 |
|
Acq-Invest.Sec.Equity Method |
-84.4 |
-25.5 |
-40.9 |
-2.2 |
-5.3 |
|
Acq-Securities held till Maturity |
- |
- |
-2.4 |
-0.9 |
0.0 |
|
Increase-Security Deposit |
- |
- |
-0.3 |
- |
- |
|
Incr-LT Loans |
-0.6 |
- |
-1.7 |
-2.7 |
-6.6 |
|
Incr-Guarantee Deposits |
-7.6 |
-0.2 |
-2.1 |
-3.5 |
-2.3 |
|
Incr-LT Prepaid Expenses |
-0.3 |
-0.7 |
-1.4 |
-0.3 |
-0.9 |
|
Acq-Land |
- |
- |
-5.7 |
-2.5 |
-0.4 |
|
Acq-Building |
- |
- |
-0.2 |
-0.5 |
-0.3 |
|
Acq-Structure |
- |
- |
-0.3 |
-0.6 |
-1.0 |
|
Acq-Machinery |
- |
- |
-3.5 |
-4.9 |
-3.3 |
|
Acq-Vehicles |
- |
- |
-0.4 |
-1.1 |
-2.3 |
|
Acq-Tools |
- |
- |
-6.5 |
-7.6 |
-13.1 |
|
Acq-Forestation |
- |
- |
- |
- |
-2.6 |
|
Inc. in Course |
- |
- |
-1.3 |
-0.5 |
-0.4 |
|
Increase-Slopes |
- |
- |
-0.2 |
- |
- |
|
Increase-Trees |
- |
- |
-0.6 |
-0.9 |
- |
|
Acq-Construction in Progress |
- |
- |
-52.0 |
-57.4 |
-40.3 |
|
Increase-Goodwill |
- |
- |
-6.6 |
-1.0 |
- |
|
Increase-Industrial Property Right |
- |
- |
0.0 |
0.0 |
-0.2 |
|
Increase-Usufruct of Donated Assets |
- |
- |
- |
0.0 |
-0.4 |
|
Acq-Dev't Cost |
- |
- |
- |
- |
-0.6 |
|
Incr-Other Investment Assets |
- |
- |
-0.8 |
-0.7 |
0.0 |
|
Acq-Other Tangible Assets |
- |
- |
-0.1 |
-0.3 |
-1.2 |
|
Acq-Other Intangible Assets |
- |
- |
-4.2 |
-1.4 |
-1.2 |
|
Increase-Consolidation Adjustment Debit |
- |
- |
- |
-4.7 |
-2.2 |
|
Others, IP |
- |
- |
0.0 |
- |
- |
|
Acq Intangible Asset |
-2.5 |
-1.1 |
- |
- |
- |
|
Disposal of Securities Available-for-Sal |
1.0 |
1.2 |
- |
- |
- |
|
Disposal of Investment Properties |
0.3 |
- |
- |
- |
- |
|
Disposal of Property, Plant and Equipmen |
7.1 |
10.2 |
- |
- |
- |
|
Purchase of Property, Plant and Equipmen |
-72.6 |
-65.9 |
- |
- |
- |
|
Others |
-0.3 |
-0.5 |
- |
- |
- |
|
Cash from Investing Activities |
-156.0 |
-84.4 |
-112.7 |
-72.2 |
-59.3 |
|
|
|
|
|
|
|
|
Inc in ST Borrowings |
- |
- |
482.6 |
1,032.2 |
1,540.3 |
|
Others, FP |
- |
- |
- |
1.6 |
- |
|
Incr-LT Borrowings |
- |
- |
35.3 |
44.0 |
91.4 |
|
Inc-Account Payables |
- |
- |
8.3 |
- |
42.3 |
|
Issuance of Bonds |
- |
- |
286.9 |
125.7 |
171.8 |
|
Increase-Advance from Real Estate Sales |
2.2 |
0.1 |
1.5 |
- |
- |
|
Increase-LT Security Deposit Received |
- |
3.1 |
27.5 |
- |
- |
|
Inc-Lease Guarantee Deposits |
0.6 |
0.1 |
0.3 |
2.6 |
31.5 |
|
Incr-Advance from Real Estate Sales |
- |
- |
- |
- |
11.6 |
|
Disp-Treasury Stock |
0.1 |
- |
0.6 |
- |
16.3 |
|
Exercise of Stock Options |
- |
0.3 |
- |
- |
- |
|
Incr-Share Capital |
- |
- |
24.8 |
3.7 |
1.0 |
|
Dividends Paid |
-10.9 |
-14.0 |
-0.5 |
-1.6 |
-0.2 |
|
Repay-ST Borrowings |
- |
- |
-538.7 |
-965.8 |
-1,550.9 |
|
Adv. Rcvd-Real Estate |
- |
- |
- |
-0.1 |
- |
|
Repay Current LT Liab. |
- |
- |
-382.5 |
-139.3 |
-273.7 |
|
Dec-Account Payables |
- |
- |
-11.5 |
-0.6 |
-52.7 |
|
Dec-LEase Guarantee Deposits |
-0.5 |
0.0 |
-5.7 |
-9.0 |
-0.2 |
|
Repayment of Bonds |
-123.6 |
-118.3 |
-35.6 |
-9.2 |
-3.4 |
|
Dec-LT Borrowings |
- |
- |
-29.7 |
-23.6 |
-3.0 |
|
Acquisition-Treasury Stock |
- |
- |
-1.7 |
-0.1 |
- |
|
Dec-Retained Earnings from Stake Changes |
- |
- |
-28.5 |
- |
- |
|
Outflw-Otr Financing |
- |
- |
0.0 |
-1.1 |
-13.6 |
|
Cash Inflow-Consol. Scope Change, FN |
- |
- |
5.0 |
6.9 |
3.6 |
|
Increase in Current Financial Liabilitie |
966.4 |
1,588.2 |
- |
- |
- |
|
Increase in Non-Current Financial Liabil |
223.3 |
342.9 |
- |
- |
- |
|
Capital Increase-Subsidiaries |
18.0 |
17.3 |
- |
- |
- |
|
Decrease in Current Financial Liabilitie |
-1,006.0 |
-1,774.1 |
- |
- |
- |
|
Decrease in Non-Current Guarantee Deposi |
-17.6 |
- |
- |
- |
- |
|
Decrease in Capital Lease Liabilities |
-1.8 |
-3.8 |
- |
- |
- |
|
Others |
-0.1 |
-0.4 |
- |
- |
- |
|
Cash Inflow/Outflow from Consolidation S |
2.1 |
- |
- |
- |
- |
|
Cash Inflow from Foreign Currency Transl |
-0.2 |
0.5 |
- |
- |
- |
|
Cash from Financing Activities |
51.9 |
41.8 |
-161.7 |
66.2 |
12.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
0.0 |
0.0 |
0.2 |
|
Net Change in Cash |
-15.8 |
21.6 |
0.7 |
0.2 |
31.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
36.2 |
13.1 |
46.8 |
54.0 |
32.3 |
|
Net Cash - Ending Balance |
20.3 |
34.7 |
47.5 |
54.2 |
64.0 |
|
Cash Interest Paid |
43.9 |
41.1 |
- |
- |
- |
|
Cash Taxes Paid |
11.6 |
15.0 |
- |
- |
- |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,488.2 |
1,440.3 |
1,717.7 |
1,342.9 |
1,415.0 |
|
Revenue |
1,488.2 |
1,440.3 |
1,717.7 |
1,342.9 |
1,415.0 |
|
Other Revenue |
105.7 |
99.4 |
359.1 |
606.1 |
470.9 |
|
Other Revenue, Total |
105.7 |
99.4 |
359.1 |
606.1 |
470.9 |
|
Total Revenue |
1,593.9 |
1,539.8 |
2,076.8 |
1,949.0 |
1,885.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,319.9 |
1,268.4 |
1,716.1 |
1,619.1 |
1,589.4 |
|
Cost of Revenue, Total |
1,319.9 |
1,268.4 |
1,716.1 |
1,619.1 |
1,589.4 |
|
Gross Profit |
168.3 |
171.9 |
1.6 |
-276.2 |
-174.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
125.3 |
125.2 |
147.7 |
155.5 |
149.9 |
|
Labor & Related Expense |
28.2 |
24.5 |
54.0 |
56.1 |
52.6 |
|
Advertising Expense |
1.5 |
2.4 |
3.4 |
7.0 |
6.9 |
|
Total Selling/General/Administrative Expenses |
155.0 |
152.1 |
205.1 |
218.6 |
209.5 |
|
Research & Development |
- |
- |
3.2 |
1.9 |
1.6 |
|
Depreciation |
1.8 |
2.0 |
5.3 |
5.6 |
6.3 |
|
Amortization of Intangibles |
- |
- |
5.1 |
4.1 |
4.7 |
|
Depreciation/Amortization |
1.8 |
2.0 |
10.4 |
9.6 |
11.0 |
|
Investment Income -
Operating |
3.4 |
-0.3 |
- |
- |
- |
|
Interest/Investment Income - Operating |
3.4 |
-0.3 |
- |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
3.4 |
-0.3 |
- |
- |
- |
|
Impairment-Assets Held for Use |
- |
3.4 |
- |
- |
- |
|
Impairment-Assets Held for Sale |
- |
0.4 |
- |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
2.0 |
0.4 |
- |
- |
- |
|
Unusual Expense (Income) |
2.0 |
4.2 |
- |
- |
- |
|
Other Operating Expense |
14.1 |
13.1 |
- |
- |
- |
|
Other, Net |
-4.6 |
-2.7 |
- |
- |
- |
|
Other Operating Expenses, Total |
9.5 |
10.4 |
- |
- |
- |
|
Total Operating Expense |
1,491.6 |
1,436.8 |
1,934.7 |
1,849.3 |
1,811.4 |
|
|
|
|
|
|
|
|
Operating Income |
102.3 |
103.0 |
142.1 |
99.8 |
74.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-72.8 |
-61.8 |
-70.0 |
-59.0 |
-61.1 |
|
Interest Expense, Net Non-Operating |
-72.8 |
-61.8 |
-70.0 |
-59.0 |
-61.1 |
|
Interest Income -
Non-Operating |
1.4 |
1.2 |
3.9 |
4.5 |
5.2 |
|
Investment Income -
Non-Operating |
-29.1 |
-63.1 |
10.9 |
-27.1 |
-15.2 |
|
Interest/Investment Income - Non-Operating |
-27.6 |
-61.9 |
14.8 |
-22.7 |
-10.0 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-100.4 |
-123.8 |
-55.3 |
-81.7 |
-71.1 |
|
Gain (Loss) on Sale of Assets |
- |
- |
-5.0 |
2.3 |
-2.9 |
|
Other Non-Operating Income (Expense) |
- |
- |
-22.1 |
-9.3 |
12.5 |
|
Other, Net |
- |
- |
-22.1 |
-9.3 |
12.5 |
|
Income Before Tax |
1.9 |
-20.8 |
59.8 |
11.0 |
13.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
10.0 |
-37.8 |
19.4 |
9.6 |
11.5 |
|
Income After Tax |
-8.1 |
17.0 |
40.4 |
1.4 |
1.5 |
|
|
|
|
|
|
|
|
Minority Interest |
2.9 |
1.8 |
-14.8 |
1.2 |
-0.9 |
|
Equity In Affiliates |
- |
- |
5.6 |
- |
-0.7 |
|
Net Income Before Extraord Items |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
Discontinued Operations |
- |
- |
0.1 |
-0.8 |
-2.2 |
|
Total Extraord Items |
- |
- |
0.1 |
-0.8 |
-2.2 |
|
Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.2 |
40.1 |
|
Basic EPS Excl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.07 |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Diluted Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
Diluted Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.3 |
40.1 |
|
Diluted EPS Excl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.06 |
0.00 |
|
Diluted EPS Incl Extraord Items |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
Dividends per Share - Common Stock Primary Issue |
0.27 |
0.26 |
0.31 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
11.0 |
10.5 |
12.7 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
72.8 |
61.8 |
70.0 |
59.0 |
61.1 |
|
Depreciation, Supplemental |
58.7 |
56.0 |
71.0 |
65.0 |
73.8 |
|
Total Special Items |
2.0 |
4.2 |
7.1 |
1.5 |
5.3 |
|
Normalized Income Before Tax |
3.9 |
-16.6 |
66.8 |
12.6 |
18.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.7 |
1.5 |
1.6 |
-0.8 |
1.0 |
|
Inc Tax Ex Impact of Sp Items |
10.7 |
-36.4 |
21.0 |
8.8 |
12.6 |
|
Normalized Income After Tax |
-6.8 |
19.7 |
45.8 |
3.8 |
5.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-3.9 |
21.5 |
36.6 |
5.0 |
4.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
Diluted Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
2.1 |
3.8 |
2.4 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.5 |
4.8 |
3.0 |
5.9 |
|
Rental Expenses |
5.1 |
4.4 |
6.8 |
5.7 |
7.4 |
|
Advertising Expense, Supplemental |
1.5 |
2.4 |
3.4 |
7.0 |
6.9 |
|
Research & Development Exp, Supplemental |
- |
- |
3.2 |
1.9 |
4.0 |
|
Normalized EBIT |
107.7 |
106.8 |
142.1 |
99.8 |
74.6 |
|
Normalized EBITDA |
166.6 |
163.3 |
219.9 |
171.6 |
156.6 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
19.6 |
35.3 |
52.1 |
47.4 |
63.5 |
|
Short Term Investments |
26.7 |
0.7 |
11.7 |
28.6 |
59.3 |
|
Cash and Short Term Investments |
46.3 |
36.0 |
63.8 |
76.0 |
122.8 |
|
Accounts Receivable -
Trade, Gross |
305.8 |
320.2 |
410.6 |
338.5 |
402.8 |
|
Provision for Doubtful
Accounts |
-20.5 |
-18.3 |
-57.2 |
-30.7 |
-39.4 |
|
Trade Accounts Receivable - Net |
286.7 |
302.7 |
359.1 |
312.1 |
367.6 |
|
Other Receivables |
6.9 |
7.4 |
72.7 |
74.3 |
39.1 |
|
Total Receivables, Net |
293.6 |
310.1 |
431.7 |
386.4 |
406.7 |
|
Inventories - Finished Goods |
74.9 |
72.9 |
90.7 |
81.1 |
91.6 |
|
Inventories - Work In Progress |
12.3 |
14.1 |
20.7 |
11.9 |
13.9 |
|
Inventories - Raw Materials |
60.7 |
44.4 |
46.2 |
71.1 |
29.9 |
|
Inventories - Other |
27.6 |
27.4 |
72.7 |
33.2 |
67.6 |
|
Total Inventory |
175.4 |
158.8 |
230.3 |
197.2 |
203.0 |
|
Prepaid Expenses |
11.2 |
6.8 |
12.3 |
14.3 |
14.9 |
|
Deferred Income Tax - Current Asset |
- |
- |
9.8 |
16.4 |
15.0 |
|
Other Current Assets |
2.7 |
0.4 |
2.1 |
9.9 |
1.4 |
|
Other Current Assets, Total |
2.7 |
0.4 |
11.9 |
26.3 |
16.3 |
|
Total Current Assets |
529.2 |
512.0 |
749.9 |
700.2 |
763.7 |
|
|
|
|
|
|
|
|
Buildings |
574.2 |
568.4 |
526.1 |
392.9 |
529.6 |
|
Land/Improvements |
378.4 |
378.4 |
440.7 |
224.2 |
282.3 |
|
Machinery/Equipment |
871.6 |
832.1 |
1,468.1 |
945.5 |
1,223.7 |
|
Construction in
Progress |
63.8 |
43.3 |
88.6 |
66.9 |
51.8 |
|
Other
Property/Plant/Equipment |
323.5 |
312.3 |
25.2 |
33.6 |
43.1 |
|
Property/Plant/Equipment - Gross |
2,211.6 |
2,134.6 |
2,548.7 |
1,663.1 |
2,130.4 |
|
Accumulated Depreciation |
-674.2 |
-595.6 |
-841.5 |
-508.4 |
-607.5 |
|
Property/Plant/Equipment - Net |
1,537.3 |
1,539.0 |
1,707.2 |
1,154.7 |
1,523.0 |
|
Goodwill, Net |
0.6 |
- |
24.0 |
20.4 |
16.2 |
|
Intangibles, Net |
4.8 |
4.4 |
17.9 |
12.6 |
23.0 |
|
LT Investment - Affiliate Companies |
97.0 |
127.5 |
47.4 |
5.6 |
7.6 |
|
LT Investments - Other |
54.4 |
78.6 |
56.7 |
49.0 |
82.8 |
|
Long Term Investments |
151.4 |
206.1 |
104.1 |
54.6 |
90.4 |
|
Note Receivable - Long Term |
1.3 |
1.2 |
2.2 |
4.4 |
4.4 |
|
Deferred Income Tax - Long Term Asset |
22.7 |
26.7 |
- |
5.9 |
0.2 |
|
Other Long Term Assets |
7.5 |
8.2 |
90.3 |
83.3 |
109.5 |
|
Other Long Term Assets, Total |
30.2 |
35.0 |
90.3 |
89.1 |
109.8 |
|
Total Assets |
2,254.7 |
2,297.7 |
2,695.6 |
2,036.0 |
2,530.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
158.9 |
165.2 |
284.1 |
199.8 |
230.1 |
|
Accrued Expenses |
17.6 |
15.2 |
35.7 |
18.5 |
15.1 |
|
Notes Payable/Short Term Debt |
171.1 |
244.3 |
273.5 |
203.6 |
184.7 |
|
Current Portion - Long Term Debt/Capital Leases |
152.0 |
73.0 |
360.1 |
359.7 |
182.5 |
|
Customer Advances |
33.7 |
35.2 |
22.2 |
27.1 |
23.8 |
|
Security Deposits |
0.0 |
0.0 |
0.8 |
0.5 |
0.6 |
|
Income Taxes Payable |
0.6 |
7.6 |
14.0 |
8.3 |
1.6 |
|
Other Payables |
96.7 |
96.9 |
81.8 |
78.4 |
86.4 |
|
Deferred Income Tax - Current Liability |
- |
- |
- |
0.2 |
0.3 |
|
Other Current Liabilities |
9.6 |
4.3 |
10.5 |
5.8 |
6.7 |
|
Other Current liabilities, Total |
140.6 |
144.0 |
129.3 |
120.3 |
119.4 |
|
Total Current Liabilities |
640.1 |
641.7 |
1,082.8 |
901.8 |
731.8 |
|
|
|
|
|
|
|
|
Long Term Debt |
475.1 |
423.1 |
423.8 |
333.7 |
715.3 |
|
Total Long Term Debt |
475.1 |
423.1 |
423.8 |
333.7 |
715.3 |
|
Total Debt |
798.2 |
740.4 |
1,057.4 |
897.0 |
1,082.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
37.6 |
38.9 |
36.1 |
16.4 |
3.6 |
|
Deferred Income Tax |
37.6 |
38.9 |
36.1 |
16.4 |
3.6 |
|
Minority Interest |
17.0 |
22.2 |
166.7 |
63.1 |
65.2 |
|
Reserves |
0.6 |
- |
3.1 |
3.1 |
3.7 |
|
Pension Benefits - Underfunded |
5.4 |
15.7 |
42.2 |
22.4 |
24.3 |
|
Other Long Term Liabilities |
422.8 |
453.1 |
334.4 |
300.2 |
417.6 |
|
Other Liabilities, Total |
428.8 |
468.9 |
379.8 |
325.8 |
445.6 |
|
Total Liabilities |
1,598.7 |
1,594.8 |
2,089.1 |
1,640.8 |
1,961.5 |
|
|
|
|
|
|
|
|
Common Stock |
189.3 |
192.2 |
187.3 |
173.2 |
233.0 |
|
Common Stock |
189.3 |
192.2 |
187.3 |
173.2 |
233.0 |
|
Additional Paid-In Capital |
258.9 |
260.7 |
309.0 |
285.1 |
396.0 |
|
Retained Earnings (Accumulated Deficit) |
214.8 |
237.0 |
18.1 |
1.2 |
-14.6 |
|
Treasury Stock - Common |
-15.4 |
-15.7 |
-16.2 |
-16.2 |
-21.7 |
|
Unrealized Gain (Loss) |
8.2 |
28.8 |
110.7 |
-33.5 |
-20.0 |
|
Translation Adjustment |
-0.1 |
-0.2 |
-1.6 |
-13.9 |
-3.7 |
|
Other Equity |
0.2 |
0.1 |
-0.8 |
-0.7 |
-0.1 |
|
Other Equity, Total |
0.1 |
-0.1 |
-2.4 |
-14.6 |
-3.8 |
|
Total Equity |
656.0 |
702.9 |
606.5 |
395.1 |
568.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,254.7 |
2,297.7 |
2,695.6 |
2,036.0 |
2,530.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
40.5 |
40.4 |
40.4 |
40.2 |
40.2 |
|
Total Common Shares Outstanding |
40.5 |
40.4 |
40.4 |
40.2 |
40.2 |
|
Treasury Shares - Common Stock Primary Issue |
3.2 |
3.2 |
3.2 |
3.5 |
3.5 |
|
Employees |
896 |
880 |
909 |
919 |
922 |
|
Number of Common Shareholders |
- |
20,134 |
14,785 |
12,947 |
14,525 |
|
Accumulated Intangible Amort, Suppl. |
0.5 |
0.3 |
- |
- |
- |
|
Deferred Revenue - Current |
33.7 |
35.2 |
22.2 |
27.1 |
23.8 |
|
Total Long Term Debt, Supplemental |
653.3 |
- |
- |
700.5 |
898.6 |
|
Long Term Debt Maturing within 1 Year |
177.1 |
- |
- |
366.2 |
182.5 |
|
Long Term Debt Maturing in Year 2 |
317.5 |
- |
- |
224.6 |
464.0 |
|
Long Term Debt Maturing in Year 3 |
138.6 |
- |
- |
77.6 |
193.6 |
|
Long Term Debt Maturing in 2-3 Years |
456.0 |
- |
- |
302.2 |
657.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
20.2 |
- |
- |
32.1 |
58.5 |
|
Interest Costs |
0.0 |
- |
- |
-0.8 |
-2.1 |
|
Total Capital Leases, Supplemental |
0.6 |
- |
- |
8.3 |
15.0 |
|
Capital Lease Payments Due in Year 1 |
0.6 |
- |
- |
3.7 |
4.8 |
|
Capital Lease Payments Due in Year 2 |
- |
- |
- |
3.7 |
5.0 |
|
Capital Lease Payments Due in Year 3 |
- |
- |
- |
1.7 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
- |
- |
5.4 |
5.0 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
- |
- |
- |
7.3 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-8.1 |
17.0 |
46.0 |
0.6 |
-1.4 |
|
Depreciation |
58.7 |
56.0 |
70.2 |
65.0 |
73.8 |
|
Depreciation/Depletion |
58.7 |
56.0 |
70.2 |
65.0 |
73.8 |
|
Amortization of Intangibles |
0.2 |
0.5 |
6.9 |
6.9 |
8.3 |
|
Amortization |
0.2 |
0.5 |
6.9 |
6.9 |
8.3 |
|
Deferred Taxes |
-0.1 |
0.6 |
8.5 |
-0.7 |
-1.9 |
|
Unusual Items |
49.1 |
-35.6 |
10.6 |
-10.2 |
13.1 |
|
Equity in Net Earnings (Loss) |
23.1 |
51.3 |
1.3 |
1.8 |
2.8 |
|
Other Non-Cash Items |
73.1 |
35.5 |
65.8 |
48.8 |
8.4 |
|
Non-Cash Items |
145.3 |
51.2 |
77.7 |
40.4 |
24.3 |
|
Accounts Receivable |
1.2 |
-2.3 |
28.9 |
-85.7 |
-79.1 |
|
Inventories |
-4.3 |
-17.2 |
57.0 |
-39.7 |
11.4 |
|
Prepaid Expenses |
-0.5 |
0.0 |
5.9 |
-3.7 |
-3.9 |
|
Other Assets |
-2.3 |
1.2 |
0.6 |
-9.8 |
-0.3 |
|
Accounts Payable |
-16.0 |
30.7 |
-2.3 |
30.5 |
61.7 |
|
Accrued Expenses |
2.3 |
0.8 |
0.9 |
5.9 |
-0.4 |
|
Taxes Payable |
-0.5 |
0.2 |
-0.8 |
8.9 |
-7.2 |
|
Other Liabilities |
-33.9 |
-19.6 |
-24.6 |
-7.3 |
-14.9 |
|
Other Assets & Liabilities, Net |
- |
- |
- |
-5.1 |
8.3 |
|
Other Operating Cash Flow |
-53.7 |
-54.9 |
0.1 |
- |
- |
|
Changes in Working Capital |
-107.8 |
-61.0 |
65.7 |
-106.0 |
-24.5 |
|
Cash from Operating Activities |
88.3 |
64.3 |
275.1 |
6.2 |
78.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-72.6 |
-65.9 |
-70.7 |
-76.3 |
-64.9 |
|
Purchase/Acquisition of Intangibles |
-2.5 |
-1.1 |
-10.8 |
-2.4 |
-2.4 |
|
Capital Expenditures |
-75.1 |
-67.0 |
-81.5 |
-78.7 |
-67.3 |
|
Sale of Fixed Assets |
7.1 |
10.2 |
16.3 |
24.8 |
2.1 |
|
Sale/Maturity of Investment |
1.8 |
13.7 |
50.5 |
46.1 |
81.4 |
|
Purchase of Investments |
-91.4 |
-33.5 |
-72.8 |
-64.0 |
-79.3 |
|
Sale of Intangible Assets |
1.9 |
- |
- |
- |
- |
|
Other Investing Cash Flow |
-0.3 |
-7.8 |
-25.1 |
-0.4 |
3.8 |
|
Other Investing Cash Flow Items, Total |
-81.0 |
-17.4 |
-31.2 |
6.5 |
8.0 |
|
Cash from Investing Activities |
-156.0 |
-84.4 |
-112.7 |
-72.2 |
-59.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
170.1 |
160.2 |
-357.2 |
-139.1 |
-251.2 |
|
Financing Cash Flow Items |
170.1 |
160.2 |
-357.2 |
-139.1 |
-251.2 |
|
Total Cash Dividends Paid |
-10.9 |
-14.0 |
-0.5 |
-1.6 |
-0.2 |
|
Sale/Issuance of
Common |
18.1 |
17.3 |
25.4 |
3.7 |
17.3 |
|
Repurchase/Retirement
of Common |
- |
- |
-30.2 |
-0.1 |
- |
|
Common Stock, Net |
18.1 |
17.3 |
-4.8 |
3.6 |
17.3 |
|
Options Exercised |
- |
0.3 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
18.1 |
17.5 |
-4.8 |
3.6 |
17.3 |
|
Short Term Debt Issued |
- |
- |
482.6 |
1,032.2 |
1,540.3 |
|
Short Term Debt
Reduction |
- |
- |
-538.7 |
-965.8 |
-1,550.9 |
|
Short Term Debt, Net |
- |
- |
-56.1 |
66.4 |
-10.6 |
|
Long Term Debt Issued |
- |
- |
322.2 |
169.6 |
263.2 |
|
Long Term Debt
Reduction |
-125.4 |
-122.0 |
-65.3 |
-32.8 |
-6.4 |
|
Long Term Debt, Net |
-125.4 |
-122.0 |
256.9 |
136.8 |
256.8 |
|
Issuance (Retirement) of Debt, Net |
-125.4 |
-122.0 |
200.9 |
203.3 |
246.2 |
|
Cash from Financing Activities |
51.9 |
41.8 |
-161.7 |
66.2 |
12.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
- |
0.0 |
0.0 |
0.2 |
|
Net Change in Cash |
-15.8 |
21.6 |
0.7 |
0.2 |
31.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
36.2 |
13.1 |
46.8 |
54.0 |
32.3 |
|
Net Cash - Ending Balance |
20.3 |
34.7 |
47.5 |
54.2 |
64.0 |
|
Cash Interest Paid |
43.9 |
41.1 |
- |
- |
- |
|
Cash Taxes Paid |
11.6 |
15.0 |
- |
- |
- |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Goods |
1,152.8 |
1,073.5 |
1,423.1 |
1,065.1 |
1,153.7 |
|
Merchandise Revenues |
335.4 |
366.9 |
294.5 |
277.9 |
261.4 |
|
Other Revenues |
105.7 |
99.4 |
359.1 |
606.1 |
470.9 |
|
Adjustment for Revenues |
0.0 |
0.0 |
- |
- |
- |
|
Total Revenue |
1,593.9 |
1,539.8 |
2,076.8 |
1,949.0 |
1,885.9 |
|
|
|
|
|
|
|
|
Cost-finished Goods |
- |
- |
1,127.8 |
872.4 |
1,110.2 |
|
Cost-Merchandise |
- |
- |
246.6 |
218.5 |
64.0 |
|
Cost of Other Sales |
- |
- |
341.7 |
528.2 |
415.2 |
|
Cost of Revenue |
1,319.9 |
1,268.4 |
- |
- |
- |
|
Salaries |
22.6 |
19.8 |
41.5 |
41.9 |
39.4 |
|
Retirement Allowance |
2.8 |
2.4 |
5.0 |
7.3 |
7.0 |
|
Employee Benefits |
2.9 |
2.3 |
7.1 |
6.4 |
5.6 |
|
Retirement Bonus Payment |
- |
- |
0.4 |
0.5 |
0.5 |
|
Travel Expenses |
1.0 |
1.0 |
1.5 |
1.8 |
2.0 |
|
Vehicles Expense |
1.1 |
1.0 |
2.0 |
2.1 |
2.3 |
|
Communication Exp |
- |
- |
0.4 |
0.8 |
0.8 |
|
Taxes and Dues |
1.0 |
0.8 |
1.9 |
1.9 |
2.4 |
|
Insurance Expenses |
- |
- |
0.3 |
0.7 |
0.5 |
|
Commission Paid |
4.7 |
3.6 |
1.5 |
5.0 |
7.0 |
|
Rent |
5.1 |
4.4 |
6.8 |
5.7 |
7.4 |
|
Consumable Expenses |
- |
- |
0.7 |
0.4 |
0.5 |
|
Repair Expenses |
- |
- |
0.1 |
0.3 |
0.2 |
|
Depreciation Expense |
1.8 |
2.0 |
5.3 |
5.6 |
6.3 |
|
Amort of Intangibles |
- |
- |
5.1 |
4.1 |
4.7 |
|
Entertainment Expens |
1.6 |
1.6 |
3.1 |
3.3 |
2.3 |
|
Research&Survey Exp |
- |
- |
0.2 |
0.8 |
0.1 |
|
Education & Training |
1.1 |
0.7 |
0.9 |
1.2 |
1.1 |
|
Printing Expense |
- |
- |
0.3 |
0.3 |
0.3 |
|
Activity Expenses |
- |
- |
0.8 |
1.2 |
1.3 |
|
Conference Expense |
- |
- |
1.0 |
0.8 |
1.0 |
|
Advertising Expense |
- |
- |
2.2 |
3.0 |
4.3 |
|
Marketing Expense |
1.5 |
2.4 |
1.2 |
4.0 |
2.6 |
|
Shipping/Handling |
32.2 |
31.5 |
35.7 |
30.9 |
35.8 |
|
Utility Expense |
- |
- |
0.1 |
0.0 |
0.0 |
|
Exporting Expense |
67.2 |
68.9 |
58.6 |
71.2 |
73.4 |
|
Reforestation Expenses |
- |
- |
- |
0.1 |
0.4 |
|
Services Expense |
- |
- |
9.7 |
7.9 |
4.4 |
|
Finishd RE Maintenan |
- |
- |
0.6 |
0.5 |
0.6 |
|
Amort of Bad Debts |
- |
1.6 |
17.6 |
14.7 |
1.3 |
|
Research Expense |
- |
- |
3.0 |
1.1 |
1.4 |
|
Order Receipt Exp |
- |
- |
0.4 |
0.6 |
0.4 |
|
Miscellaneous Operating Expense |
- |
- |
3.6 |
4.1 |
4.6 |
|
Gain on Foreign Currency Transactions |
-9.2 |
-9.3 |
- |
- |
- |
|
Gain on Foreign Currency Translation |
-0.5 |
-1.1 |
- |
- |
- |
|
Rental Income |
-0.2 |
-0.5 |
- |
- |
- |
|
Reversal of Allowance for Doubtful Accou |
-3.4 |
- |
- |
- |
- |
|
Gain on Disposal of Property, Plant and |
0.0 |
-0.8 |
- |
- |
- |
|
Gain on Derivative Transactions |
- |
-0.4 |
- |
- |
- |
|
Other Operating Income |
-1.0 |
-2.2 |
- |
- |
- |
|
Adjustment for Other Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Outsourcing Service Expense |
5.0 |
5.3 |
- |
- |
- |
|
Other Miscellaneous Expenses |
5.3 |
4.6 |
- |
- |
- |
|
Adjustment for Selling and Administrativ |
0.0 |
0.0 |
- |
- |
- |
|
Loss on Foreign Currency Transactions |
10.5 |
9.7 |
- |
- |
- |
|
Loss on Foreign Currency Translation |
2.5 |
0.7 |
- |
- |
- |
|
Loss on Disposal of Trade Receivable |
0.8 |
0.8 |
- |
- |
- |
|
Loss on Disposal of Property, Plant and |
0.6 |
0.0 |
- |
- |
- |
|
Loss on Scraping of Property, Plant and |
0.6 |
0.4 |
- |
- |
- |
|
Loss on Disposal of Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Commission, OE |
3.8 |
2.6 |
- |
- |
- |
|
Donations Paid |
5.1 |
4.5 |
- |
- |
- |
|
Other Allowance for Doubtful Accounts |
0.1 |
5.0 |
- |
- |
- |
|
Loss on Derivative Transactions |
- |
0.2 |
- |
- |
- |
|
Impairment Loss on Investment Assets |
- |
0.4 |
- |
- |
- |
|
Impairment Loss on Intangible Assets |
- |
3.4 |
- |
- |
- |
|
Real Estate Investment Maintenance Expen |
1.0 |
0.7 |
- |
- |
- |
|
Other Operating Expense |
4.1 |
0.3 |
- |
- |
- |
|
Adjustment for Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
1,491.6 |
1,436.8 |
1,934.7 |
1,849.3 |
1,811.4 |
|
|
|
|
|
|
|
|
Interest Income |
1.4 |
1.2 |
3.9 |
4.5 |
5.2 |
|
Dividend Income |
0.2 |
0.1 |
0.3 |
0.4 |
0.8 |
|
G-Foreign Exchange Transaction |
3.3 |
8.0 |
41.7 |
23.7 |
4.8 |
|
G-Foreign Currency Translation |
0.3 |
0.6 |
12.4 |
8.5 |
3.1 |
|
Gain-Valuation of Derivatives |
- |
- |
0.4 |
2.5 |
- |
|
Revers-Doubtful Acct |
- |
- |
3.9 |
1.6 |
3.0 |
|
Gain Disp Inv Asset |
- |
- |
0.2 |
7.5 |
0.2 |
|
G-Dispose Securities avail. for Sale |
0.1 |
0.0 |
3.9 |
1.2 |
1.7 |
|
G-Reduction Loss of Sec. Avail-for-Sale |
- |
- |
0.0 |
- |
- |
|
Gain Dispose Tangible Assets |
- |
- |
0.6 |
6.4 |
0.9 |
|
Recovery of Provisions for Others |
- |
- |
0.1 |
- |
0.6 |
|
Recovery-Loss Reduct.of Tangible Asst. |
- |
- |
- |
1.3 |
5.6 |
|
Rental Income |
- |
- |
0.6 |
1.0 |
1.1 |
|
RE Delayed Fees |
- |
- |
0.0 |
0.1 |
0.3 |
|
Gain-Derivatives Transactions |
- |
- |
1.0 |
1.9 |
- |
|
G-Currency Futr Trad |
- |
- |
- |
- |
0.1 |
|
Other Non-Op Income |
- |
- |
3.3 |
2.1 |
4.2 |
|
Gain-ST Marketable Sec. Valuation |
- |
- |
0.0 |
- |
- |
|
Gain on Prior Period Error Correction |
- |
- |
- |
- |
3.5 |
|
Interest Expenses |
-72.8 |
-61.8 |
-70.0 |
-59.0 |
-61.1 |
|
Loss on Disp of AR |
- |
- |
-4.9 |
-3.8 |
-3.4 |
|
L-Foreign Exchange Translation |
-0.8 |
-0.2 |
-0.8 |
-20.4 |
-2.0 |
|
Loss-Valuation of Derivatives |
- |
- |
-0.6 |
0.0 |
0.0 |
|
L-Foreign Currency Transaction |
-4.4 |
-4.6 |
-36.3 |
-47.3 |
-5.2 |
|
Loss Disp Tang. Ast |
- |
- |
-0.3 |
-0.3 |
-0.3 |
|
Reduct Tangible Asst |
- |
- |
-0.7 |
- |
-1.9 |
|
Loss-Valuation of Tangible Assets |
- |
- |
-2.5 |
- |
- |
|
L-inventory Reduction |
- |
- |
-0.3 |
-0.3 |
-0.5 |
|
Loss on Scrap of Inventory |
- |
- |
-0.4 |
0.0 |
0.0 |
|
Disp of Inv. Assets |
- |
- |
-0.2 |
-1.4 |
-0.9 |
|
Loss-Derivatives Transaction |
- |
- |
-0.2 |
-1.5 |
-2.8 |
|
Donations Paid |
- |
- |
-0.6 |
-0.7 |
-1.3 |
|
L-Dev't Cost Valuatn |
- |
- |
-4.0 |
- |
-9.7 |
|
Loss-Reduction of Investment Assets |
- |
- |
-0.1 |
- |
- |
|
L-Dispose Securities avail. for Sale |
- |
- |
-1.3 |
-0.3 |
0.0 |
|
Loss-Reduct. of Sec. Available-Sale |
- |
- |
-0.3 |
- |
- |
|
Fee & Commission Paid |
- |
- |
-3.2 |
-2.6 |
- |
|
Invest.RE Maintenanc |
- |
- |
-0.5 |
-0.6 |
-2.1 |
|
Loss-Return of Membership Rights |
- |
- |
- |
0.0 |
- |
|
Bad Debt Expense |
- |
- |
-20.5 |
-10.6 |
- |
|
Depreciation-Suspended Assets |
- |
- |
-0.7 |
0.0 |
0.0 |
|
Provisions for Others |
- |
- |
-0.5 |
- |
- |
|
Other Non-Op Expense |
- |
- |
-4.0 |
-0.9 |
-2.3 |
|
Loss-Redemption of Debentures |
- |
- |
-0.4 |
- |
- |
|
Loss-Payment Guarantee |
- |
- |
- |
- |
0.0 |
|
Gain-Valuation of Equity Method Sec. |
- |
- |
0.6 |
- |
0.3 |
|
Loss under Equity Method |
-23.1 |
-51.3 |
-1.9 |
-1.8 |
-3.1 |
|
Gain-Disposal of Equity Method Sec. |
- |
1.1 |
- |
1.5 |
- |
|
Loss-Reduction of Equity Method Sec. |
-4.4 |
-16.8 |
- |
-1.4 |
- |
|
Adjustment for Finance Income |
0.0 |
0.0 |
- |
- |
- |
|
Loss on Disposal of Investments in Affil |
-0.3 |
- |
- |
- |
- |
|
Adjustment for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
1.9 |
-20.8 |
59.8 |
11.0 |
13.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
10.0 |
-37.8 |
19.4 |
9.6 |
11.5 |
|
Net Income After Taxes |
-8.1 |
17.0 |
40.4 |
1.4 |
1.5 |
|
|
|
|
|
|
|
|
Earning Before Acquisition of Subsidiary |
- |
- |
5.6 |
- |
-0.7 |
|
Minority Interest Gain |
2.9 |
1.8 |
-14.8 |
1.2 |
-0.9 |
|
Net Income Before Extra. Items |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
Discontinued Operations |
- |
- |
0.1 |
-0.8 |
-2.2 |
|
Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-5.2 |
18.8 |
31.1 |
2.6 |
-0.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.2 |
40.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.13 |
0.47 |
0.77 |
0.07 |
0.00 |
|
Basic EPS Including ExtraOrdinary Item |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Diluted Net Income |
-5.2 |
18.8 |
31.2 |
1.8 |
-2.3 |
|
Diluted Weighted Average Shares |
40.5 |
40.4 |
40.3 |
40.3 |
40.1 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.13 |
0.47 |
0.77 |
0.06 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
-0.13 |
0.47 |
0.77 |
0.05 |
-0.06 |
|
DPS-Common Stock |
0.27 |
0.26 |
0.31 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
11.0 |
10.5 |
12.7 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
3.9 |
-16.6 |
66.8 |
12.6 |
18.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
10.7 |
-36.4 |
21.0 |
8.8 |
12.6 |
|
Normalized Income After Taxes |
-6.8 |
19.7 |
45.8 |
3.8 |
5.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-3.9 |
21.5 |
36.6 |
5.0 |
4.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
Diluted Normalized EPS |
-0.10 |
0.53 |
0.91 |
0.12 |
0.10 |
|
R&D Expense, Supplemental |
- |
- |
3.2 |
1.9 |
4.0 |
|
Advertising Expense |
1.5 |
2.4 |
3.4 |
7.0 |
6.9 |
|
Interest Expense, Supplemental |
72.8 |
61.8 |
70.0 |
59.0 |
61.1 |
|
Amort of Intangibles, Supplemental |