MIRA
INFORM REPORT
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Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
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Name : |
HYUNDAI CORPORATION |
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Registered Office : |
140-2, Gye-Dong, Jongno-Gu, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.12.1976 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in the multinational trading business |
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No. of Employees : |
361 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
--- |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Hyundai Corporation
140-2, Gye-Dong, Jongno-Gu
Seoul, 110801
Korea, Republic of
Tel: 82-2-3901114
Fax: 82-2-3901103
Web: www.hyundaicorp.com
Synthesis
Employees: 361
Company Type: Public Parent
Corporate Family: 21
Companies
Traded: Korea
Stock Exchange: 011760
Incorporation Date:
08-Dec-1976
Auditor: PricewaterhouseCoopers LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: South
Korean Won
Annual Sales: 4,918.2 1
Net Income: 39.6
Total Assets: 1,804.7 2
Market Value: 397.8 (25-May-2012)
Business Description
HYUNDAI CORPORATION is a Korea-based company engaged in the multinational trading business. The Company operates its business through five segments: steel segment, which provides steel plates, steel pipes, section steels and stainless steel products; machinery and plant segment, which provides automobiles, ships and small and mid-sized industrial plants; chemical segment, which provides petroleum, petrochemicals and others; electronics and communication segment, which is engaged in the export of electronic products, as well as brand loyalty business, and energy resource segment, which invests in natural and industrial resource projects, including oil and gas, liquefied natural gas (LNG), coal and mineral resources, lead ore, capacitor, biomass fuel and others. For the fiscal year ended 31 December 2010, Hyundai Corporation's revenues increased 18% to W3.735T. The Company's net income totaled W47.96B vs. a loss of W54.01B. Revenues reflect increased sales in wholesale & resource development segments. Net income also benefited from increased gain on foreign exchange transaction, increased gain on disposal tangible assets and decreased loss on foreign currency translation.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3322 - Metal and
Mineral Wholesaling
NACE 2002: 5152 - Wholesale
of metals and ores
NAICS 2002: 42351 - Metal
Service Centers and Other Metal Merchant Wholesalers
UK SIC 2003: 5152 - Wholesale
of metals and ores
US SIC 1987: 5051 - Metals
Service Centers and Offices
Key Executives
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Name |
Title |
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Mong Hyeok Jung |
Chairman of the Board, Co-Chief Executive Officer |
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Seok Gyu Lee |
Vice President |
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Mong-Hyuck Chung |
Chairman & Co-CEO |
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Young Nam Kim |
President |
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Kwang-Joo Kim |
Senior VP-Finance & Accounting |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Officer Changes |
2 |
Hyundai Corporation Appoints New Co-CEO |
23-Mar-2012 |
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Equity Investments |
2 |
Hyundai Corporation Announces Changes in Shareholding Structure |
25-Nov-2011 |
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Dividends |
1 |
Hyundai Corporation Declares Annual Cash Dividend for FY 2011 |
29-Feb-2012 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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Nexen eyes growth of company, brand. |
4-Jun-2012 |
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Attack damages fixed in Yemen pipeline |
25-May-2012 |
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Switching brand name no easy feat |
12-May-2012 |
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One civilian killed by US drone strike in
Shabwa |
2-Apr-2012 |
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Terex Corporation Announces New Chinese
Crane Joint Venture Partner |
28-Mar-2012 |
Financial Summary
As of 31-Dec-2011
Key Ratios Company Industry
Sales 5 Year Growth 33.66 6.76
Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152
Corporate Overview
Location
140-2, Gye-Dong, Jongno-Gu
Seoul, 110801
Korea, Republic of
Tel: 82-2-3901114
Fax: 82-2-3901103
Web: www.hyundaicorp.com
Quote Symbol - Exchange
011760 - Korea
Stock Exchange
Sales KRW(mil): 5,448,882.0
Assets KRW(mil): 2,079,044.5
Employees: 361
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Capital Goods
Incorporation Date: 08-Dec-1976
Company Type: Public
Parent
Quoted Status: Quoted
Chairman of the Board,
Co-Chief Executive Officer: Mong
Hyeok Jung
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Executives
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
0807 - Silver-Lead-Zinc Ore Mining
0700 - Oil and Gas Extraction
350 - Motor Vehicle and Motor Vehicle Parts Wholesaling
3322 - Metal and Mineral Wholesaling
3323 - Industrial and Agricultural Chemical Product Wholesaling
0600 - Coal Mining
3494 - Other Electrical and Electronic Goods Wholesaling
3419 - Other Specialised Industrial Machinery and Equipment
Wholesaling
3321 - Petroleum Product Wholesaling
NACE 2002 Codes:
1010 - Mining and agglomeration of hard coal
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5186 - Wholesale of other electronic parts and equipment
1320 - Mining of non-ferrous metal ores, except uranium and
thorium ores
5010 - Sale of motor vehicles
5155 - Wholesale of chemical products
5151 - Wholesale of solid, liquid and gaseous fuels and related
products
1110 - Extraction of crude petroleum and natural gas
5152 - Wholesale of metals and ores
NAICS 2002 Codes:
423830 - Industrial Machinery and Equipment Merchant Wholesalers
423690 - Other Electronic Parts and Equipment Merchant Wholesalers
211111 - Crude Petroleum and Natural Gas Extraction
424690 - Other Chemical and Allied Products Merchant Wholesalers
212112 - Bituminous Coal Underground Mining
424720 - Petroleum and Petroleum Products Merchant Wholesalers
(except Bulk Stations and Terminals)
42351 - Metal Service Centers and Other Metal Merchant Wholesalers
212231 - Lead Ore and Zinc Ore Mining
423860 - Transportation Equipment and Supplies (except Motor
Vehicle) Merchant Wholesalers
423110 - Automobile and Other Motor Vehicle Merchant Wholesalers
US SIC 1987:
1311 - Crude Petroleum and Natural Gas
1222 - Bituminous Coal Underground Mining
5172 - Petroleum and Petroleum Products Wholesalers, Except Bulk
Stations and Terminals
5051 - Metals Service Centers and Offices
5065 - Electronic Parts and Equipment, Not Elsewhere Classified
1031 - Lead and Zinc Ores
5169 - Chemicals and Allied Products, Not Elsewhere Classified
5084 - Industrial Machinery and Equipment
5012 - Automobiles and Other Motor Vehicles
5088 - Transportation Equipment and Supplies, Except Motor
Vehicles
UK SIC 2003:
51511 - Wholesale of petroleum and petroleum products
5010 - Sale of motor vehicles
5155 - Wholesale of chemical products
5186 - Wholesale of other electronic parts and equipment
1320 - Mining of non-ferrous metal ores, except uranium and
thorium ores
1010 - Mining and agglomeration of hard coal
5187 - Wholesale of other machinery for use in industry, trade and
navigation
5152 - Wholesale of metals and ores
1110 - Extraction of crude petroleum and natural gas
Business
Description
HYUNDAI
CORPORATION is a Korea-based company engaged in the multinational trading
business. The Company operates its business through five segments: steel
segment, which provides steel plates, steel pipes, section steels and stainless
steel products; machinery and plant segment, which provides automobiles, ships
and small and mid-sized industrial plants; chemical segment, which provides
petroleum, petrochemicals and others; electronics and communication segment,
which is engaged in the export of electronic products, as well as brand loyalty
business, and energy resource segment, which invests in natural and industrial
resource projects, including oil and gas, liquefied natural gas (LNG), coal and
mineral resources, lead ore, capacitor, biomass fuel and others. For the fiscal
year ended 31 December 2010, Hyundai Corporation's revenues increased 18% to
W3.735T. The Company's net income totaled W47.96B vs. a loss of W54.01B.
Revenues reflect increased sales in wholesale & resource development
segments. Net income also benefited from increased gain on foreign exchange
transaction, increased gain on disposal tangible assets and decreased loss on
foreign currency translation.
More Business
Descriptions
Trading arm of the
Hyundai Group of companies; import and export trade including ships, plant,
automobiles, steel, machines, chemical products, electronic products and
commodities
General Trading
Services
Hyundai
Corporation (Hyundai) is principally involved in general trading. The company
exports and imports a wide spectrum of products, in relation with automobiles,
steel and chemical products, ocean-going vessels, general commodities, and
electronic products. The company has its operational activities in different
parts of the world, namely, America, Europe, the Middle-East, Africa, and Asia
through 36 offices. The company classifies its business into four business
segments, namely, Trading, Resource Development, Shipbuilding, and Overseas
Investment. The company’s Trading segment deals with different industries,
namely, Ship, industrial plant, automobile & rolling stocks, chemical,
information and communication, steel, and industrial plants. The Shipbuilding
division of the company is engaged in the sale of new built vessels, repairing
and modification of ships, sale of second hand vessels, export and import of
shipbuilding materials, and also financing arrangement. The major offerings of
the division include commercial vessels, naval ships, and offshore ships. The
company’s Plants division deals in design, supply, production, test run, and
installation of industrial facilities including power plants, petrochemical
plants, and offshore facilities. In addition, it also offers marketing, project
organization, conducting feasibility studies, engineering and design,
manufacturing, procurement, construction, installation, testing and
commissioning services to its clients across the globe. The Machinery division
of the company deals with the supply of industrial machinery and equipment,
electrical equipment, process plant and equipments and other machinery related
to automobiles and automotive goods manufactured by the company’s affiliates
and other mid size manufacturers. This division holds numerous machinery,
automobile, and electrical equipment projects in Iran, Taiwan, Indonesia,
Brazil, the Dominican Republic, Malaysia, India, and North America. Hyundai’s
Automobile & Rolling Stocks division is focused on developing commercial
vehicles, military vehicles, passenger cars, engines, automobile parts, special
purpose vehicles, rolling stocks, and railing equipment. The Steel division of
the company operates through HYUNDAI STEEL, Hyundai Hysco, and NOVELIS KOREA.
It is engaged in trading and exporting of steel products and non-ferrous and
precious metals, both domestically and internationally. In addition, the
respective division is engaged in the export sales of steel principally across
South-West Asia and the Middle East. Moreover, it also operates a Steel Service
Center in Chennai (India), which is involved in the provision of steel
materials to the home appliance industries and sale of cold-rolled steel for
local automobiles. The company’s Information and Communication division deals
with planning, development, production, and export of IT products. It is also
engaged in the development and production of various electronics products
including display products such as LCDs, PDPs, color TVs, projection TVs; video
offerings such as DVD players, DVD recorders, and VCRs; audio products
including home theater systems, Hi-Fi stereos, portable boombox, portable CD
players, MP3 players, and car audio systems; home appliances such as kitchen appliance,
small home appliance, and computers; and others including mobile phones,
telephones, digital cameras, and GPS. The company's electronics products are
supplied to more than 54 dealers in over 100 countries across the globe. The
Chemicals division deals with petroleum, petrochemicals, plastic resin, rubber,
other chemicals, and bunkering. Its major petrochemical products include gas
oil, fuel oil, naphtha, synthetic resin, synthetic rubber, and bunker c-oil. In
addition, it supplies intermediary products such as olefin. Moreover, it also
deals with plastic goods, textiles, tires, synthetic rubber products,
agricultural and industrial film, adhesives, construction materials, pipes, and
electric components. The company’s Resource Development segment identifies
and invests in natural resources. It is principally deals in resources
investment and industrial resources. The company invests in various resources
such as oil and gas, liquefied natural gas (LNG), and coal. Hyundai’s Natural
Resources Team holds an interest in several projects including, Oman LNG, Qatar
LNG, and Vietnam gas fields. In addition, it is also promoting Yemen LNG
project. It principally undertakes mining and trading coals from Australian
Drayton coal mine while the development of soft coal mine in Saddlers Creek is
in the pipeline. It is focused to spread its business across the Middle East,
Southeast Asia, North America, and Oceania. Hyundai operates in Shipbuilding
business segment through China-based Qingdao Hyundai Shipbuilding Co. Ltd. Its
principal business activities include shipbuilding, ship design and sales;
design, production and sales of ship parts and semi-manufactured parts; ship
repairing, remodeling, and other related business. It owns and operates through
6,400DWT multi purpose cargo ship, 3,400DWT multi purpose cargo ship, and
2,600DWT bulk carrier. The Overseas Investment segment is engaged in searching
for opportunities to invest abroad. This would include investment in areas such
as shipbuilding, steel processing and distribution, real estate development and
energy resources development abroad. The company invested in various energy
development projects, such as Australia’s Drayton coal mine development
project, the Marib oil field project in Yemen, and the Oman LNG and Qatar LNG
projects.
Hyundai
Corporation (Hyundai) is a Korea-based trading company engaged in international
trade and distribution services for products such as ships, plants,
automobiles, steel, machinery, chemicals, electrical and electronics products,
and other merchandise. In addition, the company also involved in resource
development, shipbuilding, and overseas investment businesses. Hyundai operates
through four business segments namely, Trading, Resource Development,
Shipbuilding, and Overseas Investment. Moreover, Hyundai's trading business is
focused in shipbuilding, machinery, automobile & rolling stocks, chemical,
information and communication, steel, and industrial plants. The company
operates through more than 36 offices located across the Europe, Middle-East,
Africa, Asia, America, and South Korea. It operates with three subsidiaries
namely, Qingdao Hyundai Shipbuilding, POS-Hyundai Steel, and PT. Inti
Development. Hyundai is headquartered at Seoul, South Korea.The company
reported revenues of (Won) KRW 3,734,970.46 million during the fiscal year
ended December 2010, an increase of 17.62% over 2009. The operating profit of
the company was KRW 44,992.98 million during the fiscal year 2010, an increase
of 360.25% over 2009. The net profit of the company was KRW 47,962.35 million
during the fiscal year 2010, whereas the company reported a net loss of KRW
54,014.38 million during 2009.
Hyundai
Corporation is Korea's largest general trading company and is the trading and
marketing arm of the Hyundai Business Group. The company provides a broad array
of integrated services that facilitate trade and enhance worldwide commercial
development and works in close co-operation with Hyundai's affiliated companies
and other business partners.The Hyundai Corporation exports products from the
group's core industries, including automobiles, electronics and semiconductors
and heavy machinery and ships.
Trading Companies
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Strategic Initiatives
Partnerships
As such GlobalData
can accept no liability whatever for actions taken based on any information
that may subsequently prove to be incorrect. May 21, 2012Total To Resume
Operations At Yemen LNGTotal SA (Total) said that it may resume its operations
at Yemen LNG next week, following a third explosion of 38 inch gas pipeline in
this year, Bloomberg reported. Yemen LNG is fixing the pipeline, subjected to
an explosion on May 14, 2012 at north of Balhaf Liquefaction plant.Patrick de
la Chevardiere, CFO of Total, said, "We will develop better surveillance
of the pipeline and stronger collaboration with each tribe along the pipeline.
This was done but evidently not enough if we have had three explosions."
Total owns 40% of Yemen LNG, while Hunt Oil Co.
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities ·
Growing Ship Building
Business |
Threats |
Overview
Hyundai
Corporation (Hyundai) is a Korea-based general trading company. It principally
deals with international trade and distribution services for products ranging
from plants, machinery, chemicals, steel, automobiles, ships, electrical
products and electronics to general merchandise. The company has its operations
in America, South Korea, Middle-East, Europe, Africa, and Asia. The company
through its worldwide presence and strong engineering capabilities provides
expertise in trading operations. Though the company is concerned about
environmental regulations and political problems, its growing ship building
business, increasing demand for Korean SME markets and new contracts and
agreements provide growth opportunities for the company.
Strengths
Expertise in Trading Operations
Hyundai is
Korea’s leading trading company that offers services related to export and
import of a wide range of products In addition, it is engaged in intermediary
trade and also provides financing services. The company exports the following
items: plant & relevant materials, electric & electronic products,
metal and steel products, ships, autos, machines, parts, petrochemicals, and
other commodities. Under imports, the company imports petroleum, coal, machines
and parts, steel, electronic and auto parts, aluminum, nonferrous metals, other
export-use raw materials and facility materials. The company supports its
operations across the world through its 36 offices located in various regions
across Asia, North America, South America, Africa, Europe and Middle East
countries. The operational base comprises seven offices in America, three
offices in Europe, seven offices in Middle East & Africa, four offices in
Russia and the CIS, and 18 offices in Asia & Oceania. The company's client
base includes Posco, Hysco, and INI Steel in the steel industry. The company
also exports products of the Hyundai Group, especially export vessels which are
manufactured by Hyundai Heavy Industries. The robust trading operations of the
company facilitate its growth.
Business Diversity
Hyundai maintains
various business activities, in addition to its trading business. The company
through its subsidiary Qingdao Hyundai Shipbuilding, is one of the leading
shipbuilding company and specializes in the construction of mid-sized
commercial vessels. Under Resources segment, Hyundai invests in natural
resources projects. The company invests in resource development related to oil
and gas, liquified natural gas (LNG), coal and mineral resources. Besides, the
segment engages investing in industrial resources such as lead ore, capacitor,
biomass fuel and polysilicon. Some of the projects in which the company owns
interests include Oman LNG, Qatar LNG, Vietnam gas fields and Yemen LNG
project. Hyundai established POS-Hyundai, a joint venture with POSCO and
POSTEEL that engages in the import of steel coils and processes and distributes
them to automobile and home appliance companies in India. The company through
PT. Hyundai Inti. Development, a joint venture company with Lippo Group,
supplies cost-effective and strategically located industrial lots to
international manufacturers and also to various Korean companies that invests
in Indonesia. Such diversified business operations helps the company in
securing its revenue generation stream and mitigates the risks of being
associated to a single business.
Expanding Market
Share
Focused business
activities helped Hyundai in the past to record a substantial increase in its
overall financial health. The company's compounded annual growth rate (CAGR)
for revenue was 30.77% during 2006-2010. The company has been witnessing a
steady increase in its revenue generation ability. During the fiscal year ended
2010, total revenue generated by the company increased by 17.62%, to
KRW3,734,970.46m, compared to KRW3,175,363.74m in 2009. Its operating income
increased 360.25%, to KRW44992.98m, compared to KRW9775.69m in 2009. Due to
improvement in operational efficiencies, profit margins reflected an upward
trend. Profit margins such as gross margin, operating margin and net profit
margin increased from 2.46%, 0.31% and (1.7%) in 2009 to 3.15%, 1.2% and 1.28%
in 2010. Besides, return on equity (ROE) increased from (37.23%) in 2009 to
24.82% in 2010. Going further, the company reported a net profit of
KRW47,962.35m in 2010, compared to a net loss of (KRW54014.38m) in 2009. Such
growth in overall financial performance would help the company in further
improving its business in the growing Chinese market.
Weaknesses
Increasing Trade
Receivables
Hyundai reported
increase in revenues from KRW3,175,363.74m in 2009 to KRW3,734,970.46m in 2010.
Further, inventories have gone up from KRW302,457.14m in 2009 to KRW419,994.29m
in 2010. Besides, trade receivables have increased from KRW287,204.18m to
KRW383,252.35m in 2010, indicating possible credit sales. The company's working
capital growth was (102.35). The increasing doubtful debts, along with accounts
receivables, reflect the inefficient credit management by the company. In the
backdrop of volatile economic conditions, the probability of defaults by any of
creditors increased, which may impact the overall financial position as well as
profitability of the company.
Opportunities
Growing Ship
Building Business
Hyundai has
established its operations in ship building business. By acquiring Qingdao
Lingshan Shipyard, a 30 year old shipyard, located in Jiaonan City (China), it
consequently formed a joint venture named Qingdao Hyundai Shipbuilding. As the
company acquired interest in building 10,000-20,000 ton multipurpose cargo
ships which can be used as container ships and oil product cargo ships. The
company’s rapid growth in the Chinese market is expected to position it in
the list of top 3 shipbuilders by 2015. Hyundai Shipbuilding, in the first six
months of its launch, secured large-scale shipbuilding contracts and also
received 3 years of work load. Existing presence and further expansion of the
company in the shipbuilding business limits its business risks and could drive
up its financial performance.
Increasing Demand for Korean SME Markets
The small and
medium sized enterprises (SMEs) of Korea offer high scope for growth. These
companies provide high quality products but lack trading efficiencies. After
the recovery from the Asian financial crisis, these companies are focusing on
international trade. Hyundai Corporation can provide its expertise to these
SMEs through its established international networks and substantial proficiency
in international trade. This focus of the company might stabilize its financial
performance in the long term.
Strategic Initiatives
Strategic
initiatives such as acquisitions and contracts provides growth opportunities
for the company. In February 2011, Hyundai declared to establish a new
subsidiary in Singapore. The new entity would require KRW11,225m for
establishment and would be engaged in the synthesize trade. The same month, it
signed an agreement with Shenzhen Coship Electronics Co., Ltd.'s electronic
product subsidiary to use certain agreements, including Hyundai trademark in
Mainland China. Earlier in December 2010, the company singed a contract with
South Railways to supply electric trainsets at an amount of KRW
353,418,400,000. In June 2010, the company along with Hyundai Engineering &
Construction Co. received a contract worth $400m for construction of two
combined cycle power plants in India. Such growth drivers would help the
company in diversifying its revenue generation ability.
Threats
Environmental
Regulations
Hyundai’s
operations are subject to several rules and regulations. The company is
required to comply with Kyoto Protocol, which is an international agreement
linked to the United Nations Framework Convention on climate change and which
calls on 37 industrialized countries and the European community for reducing
greenhouse gas emissions to an average of 5% annually over the period
2008-2012, relative to their emission levels in 1990. The US Environmental
Protection Agency (EPA) has passed the 'Clean Air Interstate Rule' (CAIR) in
which US states are responsible to reduce their SO2 and NOX emissions by 70%
and 60%, respectively, by 2015, against 2003 levels. Many countries,
specifically those with low greenhouse gas polluting industries and high
prevailing environmental standards are required to purchase carbon credits to
comply with the Kyoto regulations. While compliance to these regulations could
increase operating costs, failing to do so could result in imposition of fines,
which could hamper the company’s growth.
Political Problems
There have always
been conflicts and problems between North Korea and South Korea. The
relationships between these regions have undergone strain over the years. As a
major part of the operations of Hyundai's are concentrated in Korea, any
outbreak in military hostilities or a break down in contacts resulting from the
conflicts could have an adverse impact on the company’s business performance.
The increase in conflicts in the region would not only affect its exports but
also affects the company’s financial performance.
Volatility in Fuel
Prices
Hyundai’s
business is highly dependent on the price and availability of fuel, and its
performance could be adversely affects by high volatility in fuel costs. As of
March 31, 2011, the crude oil price increased 2.35% to reach $106.72 per
barrel. During 2010, prices for crude oil and related products increased
significantly. The average daily spot price of crude oil during 2010 was $79.48
per barrel compared to $61.95 per barrel in 2009. Crude oil prices were
volatile, with daily spot prices fluctuating between a low of $64.78 per barrel
in May 2010 to a high of $91.48 per barrel in December 2010. The volatility in
fuel prices could affect the profit margin of the company, as they would find
it difficult to pass on the increased fuel prices to customers in the form of
price hike or surcharge.
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Corporate
Family |
Corporate
Structure News: |
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Hyundai Corporation |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Seoul |
Korea, Republic of |
Miscellaneous Capital Goods |
4,918.2 |
361 |
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Subsidiary |
Seoul |
Korea, Republic of |
Construction Services |
10,759.3 |
4,211 |
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Subsidiary |
Seoul |
Korea, Republic of |
Engineering Consultants |
|
1,700 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Engineering Consultants |
11.4 |
262 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Software and Programming |
10.1 |
77 |
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Subsidiary |
Sosan, Chungchongnam-Do |
Korea, Republic of |
Construction Services |
264.1 |
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Subsidiary |
Cheonan, Chungham |
Korea, Republic of |
Engineering Consultants |
|
450 |
|
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Subsidiary |
Riyadh |
Saudi Arabia |
Engineering Consultants |
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240 |
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Subsidiary |
Jakarta Pusat |
Indonesia |
Metal Mining |
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100 |
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Subsidiary |
Sofia |
Bulgaria |
Construction Services |
75.0 |
650 |
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Subsidiary |
Jakarta Pusat |
Indonesia |
Miscellaneous Capital Goods |
|
350 |
|
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Subsidiary |
Jakarta Pusat |
Indonesia |
Miscellaneous Transportation |
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200 |
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Subsidiary |
Mandra |
Greece |
Retail (Specialty) |
121.6 |
110 |
|
|
Subsidiary |
Dubai |
United Arab Emirates |
Construction Services |
150.0 |
100 |
|
|
Subsidiary |
Bekasi, Jawa Barat |
Indonesia |
Real Estate Operations |
18.0 |
100 |
|
|
Subsidiary |
Makati , Metro Manila |
Philippines |
Chemical Manufacturing |
|
100 |
|
|
Subsidiary |
Wanchai, Wanchai |
Hong Kong |
Miscellaneous Capital Goods |
|
100 |
|
|
Subsidiary |
Maslak, Istanbul |
Turkey |
Chemical Manufacturing |
|
50 |
|
|
Subsidiary |
Schwalbach am Taunus |
Germany |
Computer Hardware |
35.1 |
5 |
|
|
Subsidiary |
Faliro |
Greece |
Construction Services |
|
|
|
|
Subsidiary |
Amman |
Jordan |
Miscellaneous Capital Goods |
|
|
Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Fuji Heavy Industries Ltd. |
Tokyo, Japan |
27,296 |
Public |
|
HanjinShippingHoldings |
Seoul, Korea, Republic of |
16 |
Public |
|
Hitachi Zosen Corp |
Osaka-Shi, Japan |
8,528 |
Public |
|
IHI Corporation |
Tokyo, Japan |
26,035 |
Public |
|
Inchcape plc |
London, United Kingdom |
13,854 |
Public |
|
Itochu Corp |
Tokyo, Japan |
73,211 |
Public |
|
LG International Corp |
Seoul, Korea, Republic of |
673 |
Public |
|
Mitsui & Co. Ltd. |
Tokyo, Japan |
40,026 |
Public |
|
Nucor Corporation |
Charlotte, North Carolina, United States |
20,800 |
Public |
|
Oceaneering International |
Houston, Texas, United States |
9,600 |
Public |
|
SK Holdings Co, Ltd. |
Seoul, Korea, Republic of |
145 |
Public |
|
Swire Pacific Limited |
, Hong Kong |
73,867 |
Public |
|
United States Steel Corporation |
Pittsburgh, Pennsylvania, United States |
43,000 |
Public |
executive report
|
Board of
Directors |
|
|
|
|
|||||||||
|
Chairman & Co-CEO |
Chairman |
|
|||||||||
|
||||||||||||
|
Chairman of the Board, Co-Chief Executive Officer |
Chairman |
|
|
||||||||
|
||||||||||||
|
President, Co-Chief Executive Officer, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
President & Co-CEO |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Board Member |
Director/Board Member |
|
|
||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Executives |
|
|
|
|
|||||||||
|
Chairman & Co-CEO |
Chief Executive Officer |
|
|||||||||
|
||||||||||||
|
Chairman of the Board, Co-Chief Executive Officer |
Chief Executive Officer |
|
|
||||||||
|
||||||||||||
|
President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
|
|
||||||||
|
||||||||||||
|
President & Co-CEO |
Chief Executive Officer |
|
|
||||||||
|
||||||||||||
|
President & Chief Executive Officer |
Chief Executive Officer |
|
|
||||||||
|
President |
President |
|
|
||||||||
|
VP-Steel Division |
Division Head Executive |
|
|
||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Senior VP-Finance & Accounting |
Finance Executive |
|
|
||||||||
|
Manager-Sales |
Sales Executive |
|
|
||||||||
|
Senior VP-Ship & Machinery |
Other |
|
|
||||||||
|
Manager-Resource Development |
Other |
|
|
||||||||
|
Senior Vice President-Steel |
Other |
|
|
||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
Significant Developments
Hyundai
Corporation Appoints New Co-CEO Mar 23, 2012
Hyundai
Corporation announced that it has appointed Kim Jeong Rae as its new Co-Chief
Executive Officer (Co-CEO), effective March 23, 2012. The current Co-CEO, Jung
Mong Hyeok, continues his duty as Co-CEO at the Company.
Hyundai Corporation Declares Annual Cash Dividend for FY 2011 Feb 29, 2012
Hyundai Corporation announced that it has declared an annual cash dividend of KRW 500 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 2.1% and the total amount of the cash dividend is KRW 11,164,901,000. The Company's annual cash dividend for the fiscal year 2010 was KRW 250 per share.
Hyundai Corporation Announces Resignation of Co-CEO Dec 30, 2011
Hyundai Corporation announced that its Co-Chief Executive Officer (Co-CEO), Kim Yeong Nam, will resign from the Company, effective December 31, 2011. The current Co-CEO, Jung Mong Hyeok, will continue his duty as Chief Executive Officer at the Company.
Hyundai Corporation Announces Changes in Shareholding Structure Nov 25, 2011
Hyundai Corporation announced that Shinhan BNP Paribas ITMC Co.,Ltd. has acquired 1,121,100 shares of the Company, representing a 5.02% stake.
Hyundai Corporation Announces Changes in Shareholding Structure Oct 04, 2011
Hyundai
Corporation announced that Samsung Investment Trust Management Co., Ltd has
acquired a total of 1,130,143 shares of the Company, representing a 5.06%
stake.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
Revenue |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
Total Revenue |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
4,793.3 |
3,128.4 |
2,426.6 |
3,069.2 |
1,800.8 |
|
Cost of Revenue, Total |
4,793.3 |
3,128.4 |
2,426.6 |
3,069.2 |
1,800.8 |
|
Gross Profit |
125.0 |
101.8 |
61.2 |
98.2 |
82.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
38.3 |
32.7 |
30.1 |
35.9 |
30.6 |
|
Labor & Related Expense |
37.0 |
27.9 |
21.2 |
22.9 |
24.4 |
|
Advertising Expense |
- |
- |
0.1 |
0.2 |
- |
|
Total Selling/General/Administrative Expenses |
75.2 |
60.5 |
51.4 |
58.9 |
55.0 |
|
Depreciation |
1.6 |
0.9 |
1.0 |
0.9 |
0.5 |
|
Amortization of Intangibles |
0.5 |
0.1 |
1.2 |
1.3 |
- |
|
Depreciation/Amortization |
2.1 |
1.0 |
2.2 |
2.2 |
0.5 |
|
Investment Income -
Operating |
-13.6 |
-10.0 |
- |
- |
- |
|
Interest/Investment Income - Operating |
-13.6 |
-10.0 |
- |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
-13.6 |
-10.0 |
- |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
3.7 |
3.4 |
- |
- |
- |
|
Unusual Expense (Income) |
3.7 |
3.4 |
- |
- |
- |
|
Other Operating Expense |
157.2 |
107.0 |
- |
- |
- |
|
Other, Net |
-147.1 |
-103.0 |
- |
- |
- |
|
Other Operating Expenses, Total |
10.1 |
4.0 |
- |
- |
- |
|
Total Operating Expense |
4,870.7 |
3,187.4 |
2,480.1 |
3,130.4 |
1,856.3 |
|
|
|
|
|
|
|
|
Operating Income |
47.5 |
42.8 |
7.7 |
37.1 |
27.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-18.5 |
-18.1 |
-15.0 |
-17.5 |
-13.8 |
|
Interest Expense, Net Non-Operating |
-18.5 |
-18.1 |
-15.0 |
-17.5 |
-13.8 |
|
Interest Income -
Non-Operating |
4.4 |
5.7 |
3.5 |
6.4 |
9.4 |
|
Investment Income -
Non-Operating |
17.4 |
14.1 |
21.4 |
-0.3 |
39.0 |
|
Interest/Investment Income - Non-Operating |
21.8 |
19.8 |
24.9 |
6.2 |
48.4 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
3.3 |
1.7 |
9.9 |
-11.3 |
34.7 |
|
Gain (Loss) on Sale of Assets |
- |
- |
-7.5 |
-17.1 |
-11.2 |
|
Other Non-Operating Income (Expense) |
3.2 |
3.3 |
-47.6 |
-0.7 |
-9.3 |
|
Other, Net |
3.2 |
3.3 |
-47.6 |
-0.7 |
-9.3 |
|
Income Before Tax |
54.0 |
47.8 |
-37.5 |
7.9 |
41.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
16.2 |
6.6 |
9.9 |
6.2 |
-6.4 |
|
Income After Tax |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
|
|
|
|
|
|
|
Minority Interest |
1.8 |
0.9 |
5.1 |
7.8 |
-0.9 |
|
Net Income Before Extraord Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Basic EPS Excl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Basic/Primary EPS Incl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Diluted Weighted Average Shares |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Diluted EPS Excl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Diluted EPS Incl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Dividends per Share - Common Stock Primary Issue |
0.45 |
0.22 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
10.1 |
4.8 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
18.5 |
18.1 |
15.0 |
17.5 |
13.8 |
|
Depreciation, Supplemental |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Total Special Items |
3.7 |
3.4 |
7.6 |
17.3 |
11.4 |
|
Normalized Income Before Tax |
57.7 |
51.2 |
-29.9 |
25.2 |
52.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.1 |
0.5 |
2.6 |
6.0 |
3.9 |
|
Inc Tax Ex Impact of Sp Items |
17.3 |
7.0 |
12.5 |
12.2 |
-2.5 |
|
Normalized Income After Tax |
40.4 |
44.1 |
-42.4 |
13.0 |
55.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
42.2 |
45.0 |
-37.3 |
20.8 |
54.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Diluted Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
0.1 |
0.2 |
0.2 |
|
Amort of Intangibles, Supplemental |
3.0 |
2.6 |
2.9 |
2.6 |
1.7 |
|
Rental Expenses |
2.3 |
2.4 |
2.6 |
2.9 |
3.2 |
|
Advertising Expense, Supplemental |
- |
- |
0.1 |
0.2 |
- |
|
Normalized EBIT |
37.6 |
36.2 |
7.7 |
37.1 |
27.3 |
|
Normalized EBITDA |
45.8 |
43.2 |
15.1 |
43.8 |
32.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
308.7 |
137.8 |
168.1 |
146.1 |
81.4 |
|
Short Term Investments |
4.7 |
59.2 |
5.8 |
13.7 |
64.1 |
|
Cash and Short Term Investments |
313.4 |
197.0 |
173.9 |
159.9 |
145.4 |
|
Accounts Receivable -
Trade, Gross |
662.6 |
575.0 |
266.5 |
215.3 |
202.2 |
|
Provision for Doubtful
Accounts |
-11.3 |
-11.3 |
-31.3 |
-23.2 |
-28.6 |
|
Trade Accounts Receivable - Net |
655.6 |
566.1 |
241.0 |
197.8 |
179.9 |
|
Other Receivables |
41.2 |
12.4 |
5.7 |
37.5 |
19.8 |
|
Total Receivables, Net |
696.8 |
578.5 |
246.6 |
235.2 |
199.7 |
|
Inventories - Finished Goods |
125.1 |
336.4 |
158.0 |
139.1 |
107.6 |
|
Inventories - Work In Progress |
0.0 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Inventories - Other |
212.2 |
34.5 |
101.7 |
282.8 |
119.4 |
|
Total Inventory |
337.3 |
371.0 |
259.7 |
421.9 |
227.0 |
|
Prepaid Expenses |
2.9 |
2.8 |
1.2 |
1.5 |
1.7 |
|
Deferred Income Tax - Current Asset |
- |
- |
2.2 |
6.3 |
8.1 |
|
Other Current Assets |
1.7 |
1.8 |
3.3 |
6.2 |
5.1 |
|
Other Current Assets, Total |
1.7 |
1.8 |
5.5 |
12.5 |
13.2 |
|
Total Current Assets |
1,352.1 |
1,151.1 |
687.0 |
831.1 |
587.0 |
|
|
|
|
|
|
|
|
Buildings |
35.9 |
35.3 |
38.4 |
31.2 |
15.5 |
|
Land/Improvements |
- |
- |
0.2 |
0.2 |
0.3 |
|
Machinery/Equipment |
31.4 |
37.3 |
32.6 |
35.2 |
32.6 |
|
Construction in
Progress |
- |
- |
0.3 |
2.2 |
15.0 |
|
Leases |
- |
- |
0.1 |
- |
0.5 |
|
Other
Property/Plant/Equipment |
3.1 |
3.0 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
70.4 |
75.6 |
71.6 |
68.9 |
63.9 |
|
Accumulated Depreciation |
-25.6 |
-28.9 |
-23.9 |
-18.7 |
-18.4 |
|
Property/Plant/Equipment - Net |
44.7 |
46.7 |
47.7 |
50.2 |
45.5 |
|
Goodwill, Net |
- |
- |
- |
0.1 |
0.4 |
|
Intangibles, Net |
59.0 |
56.4 |
46.1 |
45.5 |
38.1 |
|
LT Investment - Affiliate Companies |
108.5 |
4.7 |
4.1 |
4.0 |
9.2 |
|
LT Investments - Other |
91.6 |
7.5 |
8.3 |
5.0 |
205.5 |
|
Long Term Investments |
200.1 |
12.2 |
12.4 |
9.1 |
214.7 |
|
Note Receivable - Long Term |
51.0 |
40.6 |
64.8 |
64.6 |
73.2 |
|
Deferred Income Tax - Long Term Asset |
0.5 |
8.1 |
10.6 |
13.8 |
22.3 |
|
Other Long Term Assets |
97.3 |
104.7 |
166.1 |
32.4 |
13.3 |
|
Other Long Term Assets, Total |
97.8 |
112.9 |
176.7 |
46.2 |
35.5 |
|
Total Assets |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
579.7 |
577.4 |
353.7 |
392.4 |
337.0 |
|
Accrued Expenses |
1.5 |
3.5 |
5.2 |
14.9 |
5.8 |
|
Notes Payable/Short Term Debt |
442.8 |
374.3 |
106.7 |
54.2 |
46.0 |
|
Current Portion - Long Term Debt/Capital Leases |
42.6 |
42.3 |
114.8 |
- |
- |
|
Dividends Payable |
- |
- |
0.0 |
0.0 |
0.0 |
|
Customer Advances |
158.6 |
104.4 |
92.2 |
116.6 |
59.0 |
|
Security Deposits |
0.1 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Income Taxes Payable |
9.7 |
1.4 |
1.2 |
2.0 |
1.9 |
|
Other Payables |
72.2 |
27.3 |
63.4 |
42.0 |
19.1 |
|
Other Current Liabilities |
15.1 |
18.6 |
9.4 |
5.0 |
7.0 |
|
Other Current liabilities, Total |
255.7 |
151.9 |
166.5 |
165.9 |
87.1 |
|
Total Current Liabilities |
1,322.4 |
1,149.4 |
746.8 |
627.4 |
476.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
101.8 |
93.4 |
86.7 |
197.2 |
217.9 |
|
Total Long Term Debt |
101.8 |
93.4 |
86.7 |
197.2 |
217.9 |
|
Total Debt |
587.2 |
510.0 |
308.1 |
251.4 |
263.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
39.3 |
- |
- |
- |
- |
|
Deferred Income Tax |
39.3 |
- |
- |
- |
- |
|
Minority Interest |
-1.7 |
0.9 |
1.6 |
2.9 |
7.6 |
|
Reserves |
2.0 |
1.9 |
- |
- |
- |
|
Pension Benefits - Underfunded |
4.0 |
2.1 |
2.2 |
2.4 |
2.9 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
72.8 |
56.4 |
90.5 |
|
Other Liabilities, Total |
6.0 |
4.0 |
75.0 |
58.9 |
93.4 |
|
Total Liabilities |
1,467.8 |
1,247.6 |
910.1 |
886.5 |
794.8 |
|
|
|
|
|
|
|
|
Common Stock |
96.9 |
98.4 |
95.9 |
88.6 |
119.3 |
|
Common Stock |
96.9 |
98.4 |
95.9 |
88.6 |
119.3 |
|
Retained Earnings (Accumulated Deficit) |
117.0 |
87.0 |
34.8 |
75.1 |
89.3 |
|
Treasury Stock - Common |
- |
- |
0.0 |
0.0 |
0.0 |
|
Unrealized Gain (Loss) |
141.9 |
0.5 |
-1.2 |
-1.2 |
-3.2 |
|
Translation Adjustment |
-5.7 |
-0.2 |
8.2 |
4.9 |
-5.8 |
|
Other Equity |
-13.2 |
-13.4 |
-13.0 |
-7.2 |
- |
|
Other Comprehensive Income |
0.0 |
0.0 |
- |
- |
- |
|
Other Equity, Total |
-18.9 |
-13.6 |
-4.9 |
-2.2 |
-5.8 |
|
Total Equity |
336.9 |
172.3 |
124.6 |
160.3 |
199.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Total Common Shares Outstanding |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
361 |
290 |
236 |
241 |
271 |
|
Number of Common Shareholders |
- |
11,810 |
10,422 |
8,912 |
9,864 |
|
Deferred Revenue - Current |
158.6 |
104.4 |
92.2 |
116.6 |
59.0 |
|
Total Long Term Debt, Supplemental |
- |
- |
149.4 |
346.4 |
217.9 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
62.8 |
197.2 |
70.0 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
9.5 |
64.0 |
70.0 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
9.5 |
6.3 |
19.5 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
9.5 |
9.5 |
19.5 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
9.5 |
9.6 |
19.5 |
|
Long Term Debt Maturing in Year 6 |
- |
- |
48.8 |
59.6 |
19.5 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
19.0 |
70.4 |
89.5 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
19.0 |
19.2 |
39.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
48.8 |
59.6 |
19.5 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
Depreciation |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Depreciation/Depletion |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Amortization of Intangibles |
3.0 |
2.6 |
2.9 |
2.8 |
1.8 |
|
Amortization |
3.0 |
2.6 |
2.9 |
2.8 |
1.8 |
|
Deferred Taxes |
- |
- |
8.3 |
3.7 |
-9.2 |
|
Unusual Items |
5.8 |
4.3 |
7.3 |
44.3 |
1.7 |
|
Equity in Net Earnings (Loss) |
-17.4 |
-14.1 |
-12.6 |
-23.8 |
-10.4 |
|
Other Non-Cash Items |
31.0 |
16.5 |
6.1 |
2.3 |
7.7 |
|
Non-Cash Items |
19.4 |
6.7 |
0.7 |
22.8 |
-1.0 |
|
Accounts Receivable |
-136.2 |
-215.9 |
-10.7 |
19.1 |
-56.9 |
|
Inventories |
110.8 |
-132.2 |
41.2 |
-70.4 |
-48.5 |
|
Prepaid Expenses |
- |
- |
0.8 |
-0.4 |
-6.0 |
|
Other Assets |
-81.8 |
16.0 |
3.6 |
-1.6 |
-0.2 |
|
Accounts Payable |
40.1 |
147.0 |
-7.5 |
12.5 |
42.9 |
|
Accrued Expenses |
- |
- |
-20.7 |
8.2 |
3.1 |
|
Taxes Payable |
- |
- |
-1.0 |
0.4 |
0.4 |
|
Other Liabilities |
58.2 |
37.6 |
-28.7 |
56.6 |
-5.7 |
|
Other Assets & Liabilities, Net |
-5.6 |
2.1 |
- |
- |
- |
|
Other Operating Cash Flow |
13.8 |
10.4 |
13.2 |
23.5 |
- |
|
Changes in Working Capital |
-0.8 |
-134.9 |
-9.7 |
48.0 |
-71.1 |
|
Cash from Operating Activities |
64.7 |
-80.1 |
-40.8 |
83.0 |
-28.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-2.4 |
-2.2 |
-1.5 |
-8.2 |
-21.9 |
|
Purchase/Acquisition of Intangibles |
-6.7 |
-4.7 |
-0.2 |
-20.6 |
-0.7 |
|
Capital Expenditures |
-9.1 |
-6.9 |
-1.8 |
-28.7 |
-22.6 |
|
Sale of Fixed Assets |
0.0 |
0.1 |
0.0 |
0.7 |
5.1 |
|
Sale/Maturity of Investment |
1.6 |
1.1 |
8.3 |
45.7 |
31.4 |
|
Investment, Net |
55.7 |
-52.0 |
- |
- |
- |
|
Purchase of Investments |
-4.5 |
-0.4 |
-1.9 |
-1.8 |
-17.0 |
|
Sale of Intangible Assets |
- |
- |
- |
0.0 |
- |
|
Other Investing Cash Flow |
-3.6 |
-9.5 |
1.2 |
18.8 |
-193.0 |
|
Other Investing Cash Flow Items, Total |
49.2 |
-60.7 |
7.6 |
63.4 |
-173.5 |
|
Cash from Investing Activities |
40.1 |
-67.7 |
5.8 |
34.7 |
-196.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
0.0 |
-25.3 |
-3.0 |
|
Financing Cash Flow Items |
- |
- |
0.0 |
-25.3 |
-3.0 |
|
Cash Dividends Paid - Common |
-5.0 |
- |
-0.6 |
- |
- |
|
Total Cash Dividends Paid |
-5.0 |
- |
-0.6 |
- |
- |
|
Sale/Issuance of
Common |
- |
0.0 |
- |
- |
- |
|
Common Stock, Net |
- |
0.0 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
- |
0.0 |
- |
- |
- |
|
Short Term Debt Issued |
- |
- |
55.6 |
4.3 |
30.7 |
|
Short Term Debt
Reduction |
- |
- |
-8.6 |
- |
- |
|
Short Term Debt, Net |
68.0 |
152.8 |
47.0 |
4.3 |
30.7 |
|
Long Term Debt Issued |
15.5 |
45.1 |
41.7 |
23.1 |
159.9 |
|
Long Term Debt
Reduction |
-6.4 |
-85.1 |
-42.5 |
-34.5 |
-2.6 |
|
Long Term Debt, Net |
9.2 |
-40.0 |
-0.9 |
-11.3 |
157.4 |
|
Issuance (Retirement) of Debt, Net |
77.1 |
112.8 |
46.1 |
-7.0 |
188.0 |
|
Cash from Financing Activities |
72.1 |
112.8 |
45.4 |
-32.3 |
185.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
1.0 |
-1.2 |
12.7 |
5.8 |
|
Net Change in Cash |
179.8 |
-34.0 |
9.1 |
98.1 |
-34.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
141.2 |
169.3 |
144.2 |
69.2 |
116.0 |
|
Net Cash - Ending Balance |
321.0 |
135.3 |
153.4 |
167.3 |
82.0 |
|
Cash Interest Paid |
18.3 |
17.8 |
- |
- |
- |
|
Cash Taxes Paid |
4.3 |
2.7 |
- |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales Revenue |
4,918.2 |
3,230.2 |
- |
3,167.4 |
1,883.6 |
|
General Revenues |
- |
- |
2,445.7 |
- |
- |
|
Revenue from Resource Development |
- |
- |
15.1 |
- |
- |
|
Income from Fee & Charges |
- |
- |
27.0 |
- |
- |
|
Total Revenue |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
|
|
|
|
|
|
|
Costs of Goods and Services Sold |
4,793.3 |
3,128.4 |
- |
3,069.2 |
1,800.8 |
|
Cost of General Rev. |
- |
- |
2,410.1 |
- |
- |
|
Cost-Resource Development |
- |
- |
12.2 |
- |
- |
|
Cost-Fee & Commission |
- |
- |
4.2 |
- |
- |
|
Salaries and Wages |
31.3 |
23.6 |
17.4 |
18.6 |
19.2 |
|
Retirement and Severance Benefits |
1.7 |
1.3 |
1.4 |
1.9 |
2.9 |
|
Employee Benefits |
3.9 |
3.0 |
2.3 |
2.4 |
2.3 |
|
Communication Expense |
- |
- |
0.6 |
0.7 |
- |
|
Utility Expense |
- |
- |
0.7 |
0.7 |
- |
|
Expense-Consumable Goods |
- |
- |
0.0 |
0.1 |
- |
|
Publishing & Printing Expense |
- |
- |
0.3 |
0.2 |
- |
|
Office Supplies Expense |
- |
- |
0.1 |
0.1 |
- |
|
Travel Expenses |
3.8 |
3.1 |
2.1 |
2.2 |
2.0 |
|
Taxes and Dues |
1.8 |
1.6 |
1.3 |
1.3 |
1.2 |
|
Vehicles Maintenance Expense |
- |
- |
0.4 |
0.4 |
- |
|
Repair Expense |
- |
- |
0.0 |
0.1 |
- |
|
Insurance Expense |
- |
- |
0.5 |
0.5 |
- |
|
Shipping & Handling Expense |
- |
- |
0.4 |
0.6 |
- |
|
Entertainment Expense |
2.0 |
1.6 |
1.2 |
1.3 |
- |
|
Rental Expenses |
2.3 |
2.4 |
2.8 |
2.9 |
3.2 |
|
Depreciation |
1.6 |
0.9 |
1.0 |
0.9 |
0.5 |
|
Advertising Expense |
- |
- |
0.1 |
0.2 |
- |
|
Amortization of Intangible Assets |
0.5 |
0.1 |
1.2 |
1.3 |
- |
|
Education & Training Expense |
- |
- |
0.1 |
0.2 |
- |
|
Overseas Residence Expense |
13.2 |
11.1 |
9.6 |
7.7 |
- |
|
Overseas Market Development Expense |
- |
- |
0.8 |
1.1 |
- |
|
Expense-Samples |
- |
- |
0.0 |
0.1 |
- |
|
Activity Expense |
- |
- |
0.1 |
0.2 |
- |
|
Safety Training Expense |
- |
- |
0.0 |
0.0 |
- |
|
Expenses of Allowance for Doubtful Accou |
0.3 |
- |
2.0 |
7.6 |
- |
|
Commissions |
5.4 |
4.6 |
4.4 |
5.6 |
7.0 |
|
Computing Expenses |
1.8 |
1.9 |
1.9 |
2.2 |
2.7 |
|
Other Selling and Administrative Expense |
7.6 |
6.4 |
0.9 |
0.2 |
14.4 |
|
Adjustment for Selling and Administrativ |
0.0 |
0.0 |
- |
- |
- |
|
Income of Foreign Assets&Liabilities |
-131.7 |
-88.7 |
- |
- |
- |
|
Dividend Income |
-15.7 |
-10.9 |
- |
- |
- |
|
Income of Derivatives Assets |
-10.4 |
-8.0 |
- |
- |
- |
|
Other Operating Income |
-5.0 |
-6.3 |
- |
- |
- |
|
Adjustment for Other Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Loss of Foreign Assets&Liabilities |
130.2 |
88.3 |
- |
- |
- |
|
Loss of Derivatives Assets |
11.9 |
5.6 |
- |
- |
- |
|
Impairment Loss on Securities Held-to-Ma |
2.1 |
0.9 |
- |
- |
- |
|
Loss on Disposal of Trade Receivable |
3.7 |
3.4 |
- |
- |
- |
|
Donations Paid |
3.8 |
0.5 |
- |
- |
- |
|
Other Operating Expense |
11.3 |
12.5 |
- |
- |
- |
|
Adjustment for Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
4,870.7 |
3,187.4 |
2,480.1 |
3,130.4 |
1,856.3 |
|
|
|
|
|
|
|
|
Interest Income |
4.4 |
5.7 |
3.5 |
6.4 |
9.4 |
|
Dividend Income |
- |
- |
9.4 |
15.5 |
13.2 |
|
Revers-Doubtful Acct |
- |
- |
4.4 |
0.1 |
0.1 |
|
Other Non-Operating Income |
- |
- |
1.2 |
3.1 |
1.3 |
|
G-For Curr Transactn |
- |
- |
74.6 |
115.0 |
18.0 |
|
G-For Exch Translatn |
- |
- |
12.8 |
57.8 |
4.2 |
|
G-Currency Futr Trad |
- |
- |
7.6 |
10.8 |
1.4 |
|
G-Currency Futr Val. |
- |
- |
0.4 |
2.3 |
- |
|
Gain-Valuation of Contracts-Settlement |
- |
- |
0.1 |
- |
- |
|
G-Dispose LT Investment Securities |
- |
- |
0.0 |
0.0 |
13.5 |
|
G-Reduction of LT Investment Securities |
- |
- |
0.5 |
1.4 |
2.9 |
|
G-Tang Asset Disp. |
- |
- |
0.0 |
0.1 |
0.8 |
|
G-Disp. of Trande Receivable |
- |
- |
- |
- |
1.8 |
|
Interest Expenses |
-18.5 |
-18.1 |
-15.0 |
-17.5 |
-13.8 |
|
Other Amortization |
- |
- |
0.0 |
-0.6 |
-4.5 |
|
Donations Paid |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Non-Op Expense |
- |
- |
-53.2 |
-3.2 |
-6.3 |
|
L-For Curr Transactn |
- |
- |
-77.1 |
-119.1 |
-15.5 |
|
L-for Exch Translatn |
- |
- |
-15.0 |
-50.5 |
-3.3 |
|
Loss-Curr Fut. Trade |
- |
- |
-4.0 |
-26.3 |
-0.7 |
|
L-Currency Future Valuation |
- |
- |
- |
0.0 |
0.0 |
|
Loss Value Inventory |
- |
- |
- |
-23.6 |
- |
|
L-LT Inv Secs Valuation |
- |
- |
- |
- |
-0.1 |
|
Loss-Valuation of Derivatives |
- |
- |
-0.1 |
- |
- |
|
L-Inv Asset Disposal |
- |
- |
- |
- |
-0.1 |
|
Loss-Disposal of Investment Securities |
- |
- |
0.0 |
0.0 |
- |
|
Loss-Disposal of Equity Method Sec. |
- |
- |
- |
-0.3 |
-0.1 |
|
Recovery-Invest. Asset Reduction Loss |
- |
- |
- |
-6.4 |
- |
|
Loss-Reduction of Investment Securities |
- |
- |
-0.4 |
-0.6 |
-4.8 |
|
L-Trade Rcv Disposal |
- |
- |
-7.5 |
-17.2 |
-13.6 |
|
L-Tang Asset Disp. |
- |
- |
0.0 |
0.0 |
-0.2 |
|
Gain under Equity Method |
- |
- |
12.6 |
23.8 |
10.4 |
|
Gain/Loss on Investments in Affiliates |
17.4 |
14.1 |
- |
- |
- |
|
Gains of Foreign Assets&Liabilities |
34.6 |
4.4 |
- |
- |
- |
|
Adjustment for Finance Income |
0.0 |
0.0 |
- |
- |
- |
|
Expense of Foreign Assets&Liabilities |
-31.4 |
-1.1 |
- |
- |
- |
|
Adjustment for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
54.0 |
47.8 |
-37.5 |
7.9 |
41.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
16.2 |
6.6 |
9.9 |
6.2 |
-6.4 |
|
Net Income After Taxes |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
|
|
|
|
|
|
|
Minority Interest |
1.8 |
0.9 |
5.1 |
7.8 |
-0.9 |
|
Net Income Before Extra. Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Basic EPS Excluding ExtraOrdin |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Basic EPS Including ExtraOrdin |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Diluted Weighted Average Share |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Diluted EPS Excluding ExtraOrd |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Diluted EPS Including ExtraOrd |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
DPS-Common Stock |
0.45 |
0.22 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
10.1 |
4.8 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
57.7 |
51.2 |
-29.9 |
25.2 |
52.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
17.3 |
7.0 |
12.5 |
12.2 |
-2.5 |
|
Normalized Income After Taxes |
40.4 |
44.1 |
-42.4 |
13.0 |
55.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
42.2 |
45.0 |
-37.3 |
20.8 |
54.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Diluted Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Interest Expense |
18.5 |
18.1 |
15.0 |
17.5 |
13.8 |
|
Advertising Expense, Supplemental |
- |
- |
0.1 |
0.2 |
- |
|
Rental Expense, Supplemental |
2.3 |
2.4 |
2.6 |
2.9 |
3.2 |
|
Amort of Acquisition Costs, Su |
- |
- |
0.1 |
0.2 |
0.2 |
|
Amort of Intangibles, Suppleme |
3.0 |
2.6 |
2.9 |
2.6 |
1.7 |
|
Depreciation |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
308.7 |
137.8 |
168.1 |
146.1 |
81.4 |
|
ST Finl Assets |
4.7 |
59.2 |
5.8 |
13.7 |
64.1 |
|
ST Investment Securities |
- |
- |
0.0 |
0.0 |
0.0 |
|
Current Securities Held-to-Maturities |
- |
0.0 |
- |
- |
- |
|
Trade Rcvb Gross |
662.6 |
575.0 |
266.5 |
215.3 |
202.2 |
|
Allowance for Doubtful Accounts |
-11.3 |
-11.3 |
-31.3 |
-23.2 |
-28.6 |
|
ST Loans |
- |
- |
- |
0.6 |
- |
|
Account Receivables |
41.2 |
11.6 |
5.3 |
36.3 |
19.8 |
|
Receivable-Recovery of Taxes |
- |
0.7 |
0.4 |
0.6 |
- |
|
Accrued Income |
4.3 |
2.4 |
5.8 |
5.7 |
6.3 |
|
Advance Payments |
110.2 |
30.2 |
57.7 |
187.2 |
33.2 |
|
Prepaid Expenses |
2.9 |
2.8 |
1.2 |
1.5 |
1.1 |
|
Prepaid Inc Tax |
- |
- |
- |
- |
0.6 |
|
Derivatives |
- |
- |
0.5 |
2.0 |
- |
|
Guarantee Deposits, Current Assets |
1.3 |
1.4 |
2.7 |
3.7 |
2.1 |
|
Other Current Assets |
- |
- |
0.0 |
0.6 |
2.9 |
|
Contracts on Settlement |
- |
- |
0.1 |
- |
- |
|
Deferred Income Tax, Current |
- |
- |
2.2 |
6.3 |
8.1 |
|
Import Merchand. |
- |
- |
9.2 |
10.3 |
2.8 |
|
Merchandise |
107.9 |
316.2 |
0.3 |
0.0 |
0.3 |
|
Export Merchand. |
- |
- |
137.5 |
65.3 |
67.0 |
|
Finished Goods |
1.8 |
1.5 |
0.6 |
49.2 |
2.7 |
|
Raw Material |
15.5 |
18.7 |
10.3 |
14.3 |
34.8 |
|
Goods in Transit |
101.9 |
4.3 |
44.0 |
95.6 |
86.2 |
|
Works in Process |
0.0 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Miscellaneous Inventory |
- |
- |
0.1 |
0.0 |
0.1 |
|
Current Derivative Assets |
0.4 |
0.4 |
- |
- |
- |
|
Adjustment for Trade Receivables |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Inventories |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Receivables |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Assets |
1,352.1 |
1,151.1 |
687.0 |
831.1 |
587.0 |
|
|
|
|
|
|
|
|
LT Finl Assets |
0.0 |
0.2 |
0.1 |
0.1 |
0.0 |
|
LT Invest Secs. |
- |
- |
8.1 |
5.0 |
8.3 |
|
Invest-Oil Dev't |
- |
- |
- |
- |
196.1 |
|
Other Inv Assets |
- |
- |
- |
- |
1.0 |
|
Non-Current Securities Held-to-Maturitie |
0.0 |
2.1 |
- |
- |
- |
|
Non-Current Securities Available-for-Sal |
91.6 |
5.3 |
- |
- |
- |
|
Investment in Affiliates |
108.5 |
4.7 |
4.1 |
4.0 |
9.2 |
|
Non-Current Loans |
51.0 |
40.6 |
61.7 |
61.4 |
73.0 |
|
LT Account Receivable |
- |
- |
3.2 |
3.2 |
0.1 |
|
LT Guarantee Dep |
- |
- |
5.7 |
5.4 |
6.3 |
|
Natural Resource Development Funds |
91.6 |
97.1 |
155.4 |
22.9 |
- |
|
LT Prepaid Expen |
- |
- |
5.0 |
4.1 |
5.9 |
|
Non-Current Deferred Income Taxes Assets |
0.5 |
8.1 |
10.6 |
13.8 |
22.3 |
|
LT Accrued Incom |
- |
- |
- |
- |
1.0 |
|
Other Non-Current Assets |
5.7 |
7.7 |
- |
- |
- |
|
Land |
- |
- |
0.2 |
0.2 |
0.3 |
|
Buildings |
- |
- |
6.6 |
6.3 |
17.2 |
|
Buildings Depre. |
- |
- |
-1.6 |
-1.4 |
-2.7 |
|
Buildings Reduce |
- |
- |
-1.6 |
-1.5 |
-2.0 |
|
Buildings & Structures |
37.5 |
37.0 |
- |
- |
- |
|
Buildings & Structures-Depreciation |
-8.6 |
-7.0 |
- |
- |
- |
|
Buildings & Structures-Reduction |
-1.6 |
-1.6 |
- |
- |
- |
|
Structures |
- |
- |
28.7 |
26.1 |
- |
|
Structure Depre. |
- |
- |
-3.6 |
-2.2 |
- |
|
Transport Equip. |
- |
- |
1.4 |
1.3 |
1.3 |
|
Transport Deprec |
- |
- |
-1.1 |
-0.8 |
-0.9 |
|
Tools & Equipments |
7.6 |
13.9 |
13.1 |
12.4 |
11.8 |
|
Tool/Equip Depr. |
-3.6 |
-10.6 |
-9.7 |
-8.6 |
-10.6 |
|
Rent Building Impr. |
- |
- |
4.6 |
0.3 |
0.3 |
|
Rent Build Depr. |
- |
- |
-3.0 |
-0.2 |
-0.2 |
|
Machineries & Equipments |
23.8 |
23.4 |
18.1 |
21.6 |
19.5 |
|
Machineries & Equipments-Depreciation |
-11.8 |
-9.9 |
-4.9 |
-5.5 |
-3.9 |
|
Lease Assets |
- |
- |
0.1 |
- |
0.5 |
|
Lease Assets-Depreciation |
- |
- |
0.0 |
- |
- |
|
Construc in Prog |
- |
- |
0.3 |
2.2 |
15.0 |
|
Goodwill |
- |
- |
- |
0.1 |
0.4 |
|
Other Intangible Assets |
3.6 |
1.1 |
20.7 |
21.1 |
4.6 |
|
Overseas Mining Development Cost |
28.0 |
28.9 |
25.4 |
24.4 |
33.5 |
|
Land Lease Rights |
4.3 |
4.3 |
- |
- |
- |
|
Trade Mark Rights |
18.0 |
18.2 |
- |
- |
- |
|
Membership Right |
5.1 |
3.9 |
- |
- |
- |
|
Other Property Plant & Equipment |
3.1 |
3.0 |
- |
- |
- |
|
Other Property Plant & Equipment-Depreci |
-1.7 |
-1.5 |
- |
- |
- |
|
Adjustment for Property, Plant & Equipme |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Intangible Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Assets |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
Current Trade Payables |
579.7 |
577.4 |
353.7 |
392.4 |
337.0 |
|
Current Borrowings |
442.8 |
374.3 |
106.7 |
54.2 |
46.0 |
|
Other Payables |
72.2 |
27.3 |
63.4 |
42.0 |
19.1 |
|
Advance from Customers, Current Liabilit |
158.6 |
101.1 |
92.2 |
116.6 |
59.0 |
|
Unearned Income |
- |
3.3 |
- |
- |
- |
|
Guarantee Deposits Withholdings, Current |
0.1 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Accrued Expenses |
1.5 |
3.5 |
5.2 |
14.9 |
5.8 |
|
Dividend Payable |
- |
- |
0.0 |
0.0 |
0.0 |
|
Inc. Taxes Pay. |
9.7 |
1.4 |
1.2 |
2.0 |
1.9 |
|
Withholdings |
6.5 |
5.2 |
4.4 |
4.5 |
6.5 |
|
Reserve-Sales Guarantee |
- |
- |
0.8 |
- |
0.0 |
|
Current Portion of Provision for Curren |
8.2 |
12.9 |
- |
- |
- |
|
Other Cur Liabs. |
- |
- |
4.1 |
0.5 |
0.4 |
|
Currency Futures, Liab. |
- |
- |
- |
0.0 |
0.0 |
|
Current Derivatives Liabilities |
0.4 |
0.4 |
0.2 |
- |
- |
|
Current Portion of LT Debt |
42.6 |
42.3 |
114.8 |
- |
- |
|
Adj.-Other Current Payables |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liability |
1,322.4 |
1,149.4 |
746.8 |
627.4 |
476.0 |
|
|
|
|
|
|
|
|
Bonds |
43.3 |
43.9 |
- |
48.0 |
66.9 |
|
Non-Current Borrowings |
58.5 |
49.5 |
86.7 |
149.2 |
39.5 |
|
Foreign Curr LTD |
- |
- |
- |
- |
111.4 |
|
Total Long Term Debt |
101.8 |
93.4 |
86.7 |
197.2 |
217.9 |
|
|
|
|
|
|
|
|
LT Trade Payable |
- |
- |
72.8 |
56.4 |
90.5 |
|
Other Non-Current Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Minority Interests |
-1.7 |
0.9 |
1.6 |
2.9 |
7.6 |
|
Retire Reserve |
- |
- |
8.1 |
2.4 |
2.9 |
|
Plan Assets |
- |
- |
-5.9 |
- |
- |
|
Transfer to National Pension Fund |
- |
- |
-0.1 |
- |
- |
|
Deferred Income Taxes, Non-Current Liabi |
39.3 |
- |
- |
- |
- |
|
Non-Current Fixed Benefit Liabilities |
4.0 |
2.1 |
- |
- |
- |
|
Non-Current Provisions |
2.0 |
1.9 |
- |
- |
- |
|
Total Liabilities |
1,467.8 |
1,247.6 |
910.1 |
886.5 |
794.8 |
|
|
|
|
|
|
|
|
Common Stock |
96.9 |
98.4 |
95.9 |
88.6 |
119.3 |
|
Treasury Stock |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Capital Adjustment |
-13.2 |
-13.4 |
-13.0 |
-7.2 |
- |
|
Consolidated Retained Earnings |
117.0 |
87.0 |
34.8 |
75.1 |
89.3 |
|
Gain on Valuation of Securities Availabl |
66.4 |
0.5 |
0.0 |
- |
- |
|
Capital Change, Equity Method |
75.5 |
0.0 |
0.4 |
0.2 |
- |
|
Value-Secs under Equity Method |
0.0 |
0.0 |
-1.7 |
-1.4 |
-3.2 |
|
Overseas Business Translation Debit |
-5.7 |
-0.2 |
8.2 |
4.9 |
-5.8 |
|
Adj.-Accumulated Other Comprehensive Inc |
0.0 |
0.0 |
- |
- |
- |
|
Total Equity |
336.9 |
172.3 |
124.6 |
160.3 |
199.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Total Common Shares Outstandin |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
158.6 |
104.4 |
92.2 |
116.6 |
59.0 |
|
Full-Time Employees |
361 |
290 |
236 |
241 |
271 |
|
Number of Common Shareholders |
- |
11,810 |
10,422 |
8,912 |
9,864 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
62.8 |
197.2 |
- |
|
Long Term Debt Maturing within 2 Years |
- |
- |
9.5 |
64.0 |
140.0 |
|
Long Term Debt Maturing within 3 Years |
- |
- |
9.5 |
6.3 |
- |
|
Long Term Debt Maturing within 4 Years |
- |
- |
9.5 |
9.5 |
- |
|
Long Term Debt Maturing within 5 Years |
- |
- |
9.5 |
9.6 |
- |
|
Long Term Debt Remaining Maturities |
- |
- |
48.8 |
59.6 |
77.9 |
|
Total Long Term Debt, Supplemental |
- |
- |
149.4 |
346.4 |
217.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
Depreciation |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Amortization of Intangible Assets |
3.0 |
2.6 |
2.9 |
2.8 |
1.8 |
|
Payment for Retirement Allowance, ONCI |
1.7 |
1.3 |
1.4 |
1.9 |
2.9 |
|
Expense of Allowance for Doubtful Accoun |
0.3 |
- |
2.0 |
7.6 |
1.3 |
|
Expenses of Allowance for Other Doubtful |
8.1 |
- |
- |
- |
- |
|
Amort-Othr Bad Debt |
- |
- |
0.0 |
0.6 |
4.5 |
|
Accrued Interest Expense |
- |
- |
0.1 |
0.1 |
0.1 |
|
Provision-Construction Loss |
- |
- |
4.6 |
- |
- |
|
L-For Exch Translatn |
- |
- |
15.0 |
49.9 |
3.3 |
|
Loss-Valuation of Contract on Settlement |
- |
- |
- |
0.0 |
- |
|
L-Inventory Valuation |
- |
- |
0.5 |
23.6 |
- |
|
Loss-Valuation of Derivatives |
- |
- |
0.1 |
- |
0.0 |
|
L-LT Investment Securities Valuation |
- |
- |
- |
0.3 |
0.1 |
|
L-Reduct. of Inv. Assets |
- |
- |
- |
6.4 |
- |
|
L-Reduct. of LT Inv. Secs. |
- |
- |
0.4 |
0.6 |
4.8 |
|
Reduction Loss on Securities Held-to-Mat |
2.1 |
0.9 |
- |
- |
- |
|
Disposal Loss on Trade Receivables |
3.7 |
3.4 |
7.5 |
17.2 |
13.6 |
|
L-Tang Asset Disp. |
- |
- |
0.0 |
0.0 |
0.2 |
|
L-Inv Asset Disp. |
- |
- |
- |
- |
0.1 |
|
L-LT Inv Secs Disposal |
- |
- |
0.0 |
0.0 |
0.1 |
|
Revers-Doubtful Acct |
- |
- |
-4.4 |
-0.1 |
-0.1 |
|
Interest Expenses |
18.5 |
18.1 |
- |
- |
- |
|
Interest Income |
-4.4 |
-5.7 |
- |
- |
- |
|
Dividend Income,on |
-15.7 |
-10.9 |
- |
- |
- |
|
Corporate Taxes Expense |
16.2 |
6.6 |
- |
- |
- |
|
Contract on Settlement |
- |
- |
0.0 |
- |
- |
|
G-For Exch Translatn |
- |
- |
-12.8 |
-57.8 |
-4.2 |
|
G-Currency Futr Val. |
- |
- |
-0.4 |
-2.3 |
- |
|
Gain-Valuation of Contract on Settlement |
- |
- |
-0.1 |
- |
- |
|
G-Reduction LT Investment Securities |
- |
- |
-0.5 |
- |
-2.9 |
|
G-Tang Asset Disp. |
- |
- |
0.0 |
-0.1 |
-0.8 |
|
G-Dispose ST Investment Securities |
- |
- |
- |
-1.4 |
- |
|
G-Dispose LT Investment Securities |
- |
- |
0.0 |
0.0 |
-13.5 |
|
G-Equity Method Val. |
- |
- |
-12.6 |
-23.8 |
-10.4 |
|
Gain/Loss under Equity Method |
-17.4 |
-14.1 |
- |
- |
- |
|
Gain/Loss on Valuation of Derivative Fin |
0.0 |
-0.1 |
- |
- |
- |
|
Gain/Loss on Foreign Currency Translatio |
0.1 |
2.0 |
- |
- |
- |
|
Other Cash Flow from Operating Activitie |
6.2 |
5.2 |
- |
- |
- |
|
Trade Receivables |
-89.4 |
-211.0 |
-44.0 |
30.0 |
-48.4 |
|
LT Trade Rcvbls. |
- |
- |
- |
0.7 |
14.0 |
|
Other Current Receivables |
-46.7 |
-4.9 |
33.6 |
-12.2 |
-17.3 |
|
Accrued Income |
- |
- |
-0.3 |
0.7 |
-5.3 |
|
Inventories |
110.8 |
-132.2 |
41.2 |
-93.2 |
-47.4 |
|
Advanced Payments |
- |
- |
0.0 |
22.8 |
-1.1 |
|
Prepaid Expenses |
- |
- |
0.6 |
-0.5 |
0.0 |
|
LT Prepaid Expenses |
- |
- |
- |
0.4 |
-5.9 |
|
Prepaid Taxes |
- |
- |
0.3 |
-0.2 |
0.0 |
|
Security Deposits |
- |
- |
1.0 |
-1.9 |
-0.7 |
|
Other Current Assets |
-81.8 |
27.6 |
0.6 |
0.4 |
0.5 |
|
Derivatives in Assets |
- |
- |
2.0 |
0.0 |
0.0 |
|
Source Development Cost |
-1.9 |
-14.6 |
- |
- |
- |
|
Decrease in Other Non-Current Assets |
1.9 |
3.0 |
- |
- |
- |
|
Deferred Taxes-Asset |
- |
- |
8.3 |
3.7 |
-9.2 |
|
Trade Payables |
-5.1 |
195.2 |
-36.8 |
-2.0 |
38.7 |
|
Other Payables |
45.1 |
-48.2 |
29.3 |
14.4 |
4.2 |
|
Accrued Expenses |
- |
- |
-20.7 |
8.2 |
3.1 |
|
Accrued Income Tax |
- |
- |
-1.0 |
0.4 |
0.4 |
|
Advance from Customers |
58.2 |
37.6 |
-26.0 |
58.4 |
-6.1 |
|
Deposits Withheld |
- |
- |
-0.3 |
-1.1 |
3.9 |
|
Security Deposit |
- |
- |
0.0 |
0.2 |
0.0 |
|
Unearned Income |
- |
- |
- |
0.7 |
-0.2 |
|
Other Current Liab. |
- |
- |
-0.3 |
0.1 |
0.2 |
|
Other Non-Current Liabilities |
- |
- |
-0.2 |
- |
0.0 |
|
Nation Pension Fund |
- |
- |
0.0 |
0.0 |
0.0 |
|
Reserve for Sales Guarantee |
- |
- |
0.7 |
0.0 |
-0.4 |
|
Retirement Pension Operating Fund |
- |
- |
-1.0 |
-0.9 |
-1.4 |
|
Reserve-Severance & Retirement Benefit |
- |
- |
- |
0.4 |
-0.1 |
|
Payment-Retirement Bonus |
- |
- |
-0.8 |
-1.2 |
-1.6 |
|
Reserve-Construction Loss |
- |
- |
-0.8 |
- |
- |
|
Other Assets and Liabilities |
-5.6 |
2.1 |
- |
- |
- |
|
Dividend Income, A/L |
33.0 |
24.9 |
13.2 |
23.5 |
- |
|
Adjustment for Operating Activities |
0.0 |
0.0 |
- |
- |
- |
|
Cash-Interest Received |
3.5 |
6.0 |
- |
- |
- |
|
Cash-Interest Paid |
-18.3 |
-17.8 |
- |
- |
- |
|
Cash-Tax Paid |
-4.3 |
-2.7 |
- |
- |
- |
|
Adjustment for Operating Assets & Liabil |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Operating Activities |
64.7 |
-80.1 |
-40.8 |
83.0 |
-28.7 |
|
|
|
|
|
|
|
|
Dispose-ST Investment Securities |
- |
- |
0.0 |
0.0 |
0.1 |
|
Disp of LT Invest Secs. |
- |
- |
0.0 |
2.5 |
16.8 |
|
Dec-LT Finl Assets |
- |
- |
8.2 |
38.8 |
- |
|
Disposal of Investment in Affiliates |
0.3 |
- |
- |
4.4 |
12.1 |
|
Disposal of Securities Available-for-Sal |
1.3 |
0.6 |
- |
- |
- |
|
Dec. Other Inv Asset |
- |
- |
- |
- |
2.4 |
|
Disposal of Securities Held-to-Maturitie |
0.0 |
0.5 |
- |
- |
- |
|
Decrease-ST Loans |
- |
- |
1.2 |
- |
- |
|
Decrease in LT Loans |
0.1 |
0.1 |
0.0 |
27.1 |
- |
|
Dec-Guarantee Dep |
- |
- |
0.1 |
0.0 |
- |
|
LT Account Receivable |
- |
- |
- |
- |
-1.0 |
|
Disposal of Property, Plant and Equipmen |
0.0 |
0.1 |
0.0 |
0.7 |
5.1 |
|
Dispose-Intangibles |
- |
- |
- |
0.0 |
- |
|
ST Finl Assets |
55.7 |
-52.0 |
- |
- |
- |
|
Inc-ST Finl Assets |
- |
- |
- |
- |
-17.0 |
|
Inc-LT Finl Assets |
- |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Acq-ST Investment Securities |
- |
- |
-1.8 |
-1.8 |
- |
|
Increase-Securities under Equity Method |
-4.5 |
-0.4 |
- |
- |
- |
|
Increase in ST Loans |
- |
- |
- |
-0.6 |
- |
|
Inc Oil Develop Fund |
- |
- |
0.0 |
-7.3 |
-140.2 |
|
Increase in Non-Current Loans |
-3.8 |
-9.5 |
0.0 |
-0.1 |
-50.8 |
|
Inc in Guarant Depos |
- |
- |
-0.2 |
-0.3 |
-0.9 |
|
Acq-Tangible Assets |
-2.4 |
-2.2 |
-1.5 |
-8.2 |
-21.9 |
|
Purchase of Intangible Assets |
-6.7 |
-4.7 |
-0.2 |
-20.6 |
-0.7 |
|
Cash from Investing Activities |
40.1 |
-67.7 |
5.8 |
34.7 |
-196.1 |
|
|
|
|
|
|
|
|
Increase-Bond |
- |
43.1 |
41.1 |
- |
- |
|
Increase in Non-Current Borrowings |
15.5 |
2.0 |
0.6 |
23.1 |
68.8 |
|
Inc in ST Borrowings |
- |
- |
55.6 |
4.3 |
30.7 |
|
Inc LT Account Payable |
- |
- |
- |
0.0 |
91.1 |
|
Disposal-Treasury Stock |
- |
0.0 |
- |
- |
- |
|
Decrease-ST Borrowings |
- |
- |
-8.6 |
- |
- |
|
Dec-Current Portion of LT Liabilities |
-6.4 |
-82.2 |
- |
- |
- |
|
Repayment of Bonds |
- |
- |
-41.1 |
-2.0 |
- |
|
Decrease-LT Borrowings |
- |
-2.9 |
-1.4 |
-32.5 |
-2.6 |
|
Decrease-LT Accrued Payment |
- |
- |
0.0 |
-22.8 |
- |
|
Consolidated Scope Adjustment |
- |
- |
- |
-2.5 |
-3.0 |
|
Dividend Paid |
-5.0 |
- |
-0.6 |
- |
- |
|
Current Borrowings, Net |
68.0 |
152.8 |
- |
- |
- |
|
Cash from Financing Activities |
72.1 |
112.8 |
45.4 |
-32.3 |
185.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
1.0 |
-1.2 |
12.7 |
5.8 |
|
Net Change in Cash |
179.8 |
-34.0 |
9.1 |
98.1 |
-34.0 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
141.2 |
169.3 |
144.2 |
69.2 |
116.0 |
|
Cash and Cash Equivalents at End |
321.0 |
135.3 |
153.4 |
167.3 |
82.0 |
|
Cash Interest Paid |
18.3 |
17.8 |
- |
- |
- |
|
Cash Taxes Paid |
4.3 |
2.7 |
- |
- |
- |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung Accounting
Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
Revenue |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
Total Revenue |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
4,793.3 |
3,128.4 |
2,426.6 |
3,069.2 |
1,800.8 |
|
Cost of Revenue, Total |
4,793.3 |
3,128.4 |
2,426.6 |
3,069.2 |
1,800.8 |
|
Gross Profit |
125.0 |
101.8 |
61.2 |
98.2 |
82.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
38.3 |
32.7 |
30.1 |
35.9 |
30.6 |
|
Labor & Related Expense |
37.0 |
27.9 |
21.2 |
22.9 |
24.4 |
|
Advertising Expense |
- |
- |
0.1 |
0.2 |
- |
|
Total Selling/General/Administrative Expenses |
75.2 |
60.5 |
51.4 |
58.9 |
55.0 |
|
Depreciation |
1.6 |
0.9 |
1.0 |
0.9 |
0.5 |
|
Amortization of Intangibles |
0.5 |
0.1 |
1.2 |
1.3 |
- |
|
Depreciation/Amortization |
2.1 |
1.0 |
2.2 |
2.2 |
0.5 |
|
Investment Income -
Operating |
-13.6 |
-10.0 |
- |
- |
- |
|
Interest/Investment Income - Operating |
-13.6 |
-10.0 |
- |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
-13.6 |
-10.0 |
- |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
3.7 |
3.4 |
- |
- |
- |
|
Unusual Expense (Income) |
3.7 |
3.4 |
- |
- |
- |
|
Other Operating Expense |
157.2 |
107.0 |
- |
- |
- |
|
Other, Net |
-147.1 |
-103.0 |
- |
- |
- |
|
Other Operating Expenses, Total |
10.1 |
4.0 |
- |
- |
- |
|
Total Operating Expense |
4,870.7 |
3,187.4 |
2,480.1 |
3,130.4 |
1,856.3 |
|
|
|
|
|
|
|
|
Operating Income |
47.5 |
42.8 |
7.7 |
37.1 |
27.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-18.5 |
-18.1 |
-15.0 |
-17.5 |
-13.8 |
|
Interest Expense, Net Non-Operating |
-18.5 |
-18.1 |
-15.0 |
-17.5 |
-13.8 |
|
Interest Income -
Non-Operating |
4.4 |
5.7 |
3.5 |
6.4 |
9.4 |
|
Investment Income -
Non-Operating |
17.4 |
14.1 |
21.4 |
-0.3 |
39.0 |
|
Interest/Investment Income - Non-Operating |
21.8 |
19.8 |
24.9 |
6.2 |
48.4 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
3.3 |
1.7 |
9.9 |
-11.3 |
34.7 |
|
Gain (Loss) on Sale of Assets |
- |
- |
-7.5 |
-17.1 |
-11.2 |
|
Other Non-Operating Income (Expense) |
3.2 |
3.3 |
-47.6 |
-0.7 |
-9.3 |
|
Other, Net |
3.2 |
3.3 |
-47.6 |
-0.7 |
-9.3 |
|
Income Before Tax |
54.0 |
47.8 |
-37.5 |
7.9 |
41.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
16.2 |
6.6 |
9.9 |
6.2 |
-6.4 |
|
Income After Tax |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
|
|
|
|
|
|
|
Minority Interest |
1.8 |
0.9 |
5.1 |
7.8 |
-0.9 |
|
Net Income Before Extraord Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Basic EPS Excl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Basic/Primary EPS Incl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Diluted Weighted Average Shares |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Diluted EPS Excl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Diluted EPS Incl Extraord Items |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Dividends per Share - Common Stock Primary Issue |
0.45 |
0.22 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
10.1 |
4.8 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
18.5 |
18.1 |
15.0 |
17.5 |
13.8 |
|
Depreciation, Supplemental |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Total Special Items |
3.7 |
3.4 |
7.6 |
17.3 |
11.4 |
|
Normalized Income Before Tax |
57.7 |
51.2 |
-29.9 |
25.2 |
52.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.1 |
0.5 |
2.6 |
6.0 |
3.9 |
|
Inc Tax Ex Impact of Sp Items |
17.3 |
7.0 |
12.5 |
12.2 |
-2.5 |
|
Normalized Income After Tax |
40.4 |
44.1 |
-42.4 |
13.0 |
55.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
42.2 |
45.0 |
-37.3 |
20.8 |
54.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Diluted Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
0.1 |
0.2 |
0.2 |
|
Amort of Intangibles, Supplemental |
3.0 |
2.6 |
2.9 |
2.6 |
1.7 |
|
Rental Expenses |
2.3 |
2.4 |
2.6 |
2.9 |
3.2 |
|
Advertising Expense, Supplemental |
- |
- |
0.1 |
0.2 |
- |
|
Normalized EBIT |
37.6 |
36.2 |
7.7 |
37.1 |
27.3 |
|
Normalized EBITDA |
45.8 |
43.2 |
15.1 |
43.8 |
32.1 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
308.7 |
137.8 |
168.1 |
146.1 |
81.4 |
|
Short Term Investments |
4.7 |
59.2 |
5.8 |
13.7 |
64.1 |
|
Cash and Short Term Investments |
313.4 |
197.0 |
173.9 |
159.9 |
145.4 |
|
Accounts Receivable -
Trade, Gross |
662.6 |
575.0 |
266.5 |
215.3 |
202.2 |
|
Provision for Doubtful
Accounts |
-11.3 |
-11.3 |
-31.3 |
-23.2 |
-28.6 |
|
Trade Accounts Receivable - Net |
655.6 |
566.1 |
241.0 |
197.8 |
179.9 |
|
Other Receivables |
41.2 |
12.4 |
5.7 |
37.5 |
19.8 |
|
Total Receivables, Net |
696.8 |
578.5 |
246.6 |
235.2 |
199.7 |
|
Inventories - Finished Goods |
125.1 |
336.4 |
158.0 |
139.1 |
107.6 |
|
Inventories - Work In Progress |
0.0 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Inventories - Other |
212.2 |
34.5 |
101.7 |
282.8 |
119.4 |
|
Total Inventory |
337.3 |
371.0 |
259.7 |
421.9 |
227.0 |
|
Prepaid Expenses |
2.9 |
2.8 |
1.2 |
1.5 |
1.7 |
|
Deferred Income Tax - Current Asset |
- |
- |
2.2 |
6.3 |
8.1 |
|
Other Current Assets |
1.7 |
1.8 |
3.3 |
6.2 |
5.1 |
|
Other Current Assets, Total |
1.7 |
1.8 |
5.5 |
12.5 |
13.2 |
|
Total Current Assets |
1,352.1 |
1,151.1 |
687.0 |
831.1 |
587.0 |
|
|
|
|
|
|
|
|
Buildings |
35.9 |
35.3 |
38.4 |
31.2 |
15.5 |
|
Land/Improvements |
- |
- |
0.2 |
0.2 |
0.3 |
|
Machinery/Equipment |
31.4 |
37.3 |
32.6 |
35.2 |
32.6 |
|
Construction in
Progress |
- |
- |
0.3 |
2.2 |
15.0 |
|
Leases |
- |
- |
0.1 |
- |
0.5 |
|
Other
Property/Plant/Equipment |
3.1 |
3.0 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
70.4 |
75.6 |
71.6 |
68.9 |
63.9 |
|
Accumulated Depreciation |
-25.6 |
-28.9 |
-23.9 |
-18.7 |
-18.4 |
|
Property/Plant/Equipment - Net |
44.7 |
46.7 |
47.7 |
50.2 |
45.5 |
|
Goodwill, Net |
- |
- |
- |
0.1 |
0.4 |
|
Intangibles, Net |
59.0 |
56.4 |
46.1 |
45.5 |
38.1 |
|
LT Investment - Affiliate Companies |
108.5 |
4.7 |
4.1 |
4.0 |
9.2 |
|
LT Investments - Other |
91.6 |
7.5 |
8.3 |
5.0 |
205.5 |
|
Long Term Investments |
200.1 |
12.2 |
12.4 |
9.1 |
214.7 |
|
Note Receivable - Long Term |
51.0 |
40.6 |
64.8 |
64.6 |
73.2 |
|
Deferred Income Tax - Long Term Asset |
0.5 |
8.1 |
10.6 |
13.8 |
22.3 |
|
Other Long Term Assets |
97.3 |
104.7 |
166.1 |
32.4 |
13.3 |
|
Other Long Term Assets, Total |
97.8 |
112.9 |
176.7 |
46.2 |
35.5 |
|
Total Assets |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
579.7 |
577.4 |
353.7 |
392.4 |
337.0 |
|
Accrued Expenses |
1.5 |
3.5 |
5.2 |
14.9 |
5.8 |
|
Notes Payable/Short Term Debt |
442.8 |
374.3 |
106.7 |
54.2 |
46.0 |
|
Current Portion - Long Term Debt/Capital Leases |
42.6 |
42.3 |
114.8 |
- |
- |
|
Dividends Payable |
- |
- |
0.0 |
0.0 |
0.0 |
|
Customer Advances |
158.6 |
104.4 |
92.2 |
116.6 |
59.0 |
|
Security Deposits |
0.1 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Income Taxes Payable |
9.7 |
1.4 |
1.2 |
2.0 |
1.9 |
|
Other Payables |
72.2 |
27.3 |
63.4 |
42.0 |
19.1 |
|
Other Current Liabilities |
15.1 |
18.6 |
9.4 |
5.0 |
7.0 |
|
Other Current liabilities, Total |
255.7 |
151.9 |
166.5 |
165.9 |
87.1 |
|
Total Current Liabilities |
1,322.4 |
1,149.4 |
746.8 |
627.4 |
476.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
101.8 |
93.4 |
86.7 |
197.2 |
217.9 |
|
Total Long Term Debt |
101.8 |
93.4 |
86.7 |
197.2 |
217.9 |
|
Total Debt |
587.2 |
510.0 |
308.1 |
251.4 |
263.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
39.3 |
- |
- |
- |
- |
|
Deferred Income Tax |
39.3 |
- |
- |
- |
- |
|
Minority Interest |
-1.7 |
0.9 |
1.6 |
2.9 |
7.6 |
|
Reserves |
2.0 |
1.9 |
- |
- |
- |
|
Pension Benefits - Underfunded |
4.0 |
2.1 |
2.2 |
2.4 |
2.9 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
72.8 |
56.4 |
90.5 |
|
Other Liabilities, Total |
6.0 |
4.0 |
75.0 |
58.9 |
93.4 |
|
Total Liabilities |
1,467.8 |
1,247.6 |
910.1 |
886.5 |
794.8 |
|
|
|
|
|
|
|
|
Common Stock |
96.9 |
98.4 |
95.9 |
88.6 |
119.3 |
|
Common Stock |
96.9 |
98.4 |
95.9 |
88.6 |
119.3 |
|
Retained Earnings (Accumulated Deficit) |
117.0 |
87.0 |
34.8 |
75.1 |
89.3 |
|
Treasury Stock - Common |
- |
- |
0.0 |
0.0 |
0.0 |
|
Unrealized Gain (Loss) |
141.9 |
0.5 |
-1.2 |
-1.2 |
-3.2 |
|
Translation Adjustment |
-5.7 |
-0.2 |
8.2 |
4.9 |
-5.8 |
|
Other Equity |
-13.2 |
-13.4 |
-13.0 |
-7.2 |
- |
|
Other Comprehensive Income |
0.0 |
0.0 |
- |
- |
- |
|
Other Equity, Total |
-18.9 |
-13.6 |
-4.9 |
-2.2 |
-5.8 |
|
Total Equity |
336.9 |
172.3 |
124.6 |
160.3 |
199.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Total Common Shares Outstanding |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
361 |
290 |
236 |
241 |
271 |
|
Number of Common Shareholders |
- |
11,810 |
10,422 |
8,912 |
9,864 |
|
Deferred Revenue - Current |
158.6 |
104.4 |
92.2 |
116.6 |
59.0 |
|
Total Long Term Debt, Supplemental |
- |
- |
149.4 |
346.4 |
217.9 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
62.8 |
197.2 |
70.0 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
9.5 |
64.0 |
70.0 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
9.5 |
6.3 |
19.5 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
9.5 |
9.5 |
19.5 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
9.5 |
9.6 |
19.5 |
|
Long Term Debt Maturing in Year 6 |
- |
- |
48.8 |
59.6 |
19.5 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
19.0 |
70.4 |
89.5 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
19.0 |
19.2 |
39.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
48.8 |
59.6 |
19.5 |
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 |
Updated 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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
Depreciation |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Depreciation/Depletion |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Amortization of Intangibles |
3.0 |
2.6 |
2.9 |
2.8 |
1.8 |
|
Amortization |
3.0 |
2.6 |
2.9 |
2.8 |
1.8 |
|
Deferred Taxes |
- |
- |
8.3 |
3.7 |
-9.2 |
|
Unusual Items |
5.8 |
4.3 |
7.3 |
44.3 |
1.7 |
|
Equity in Net Earnings (Loss) |
-17.4 |
-14.1 |
-12.6 |
-23.8 |
-10.4 |
|
Other Non-Cash Items |
31.0 |
16.5 |
6.1 |
2.3 |
7.7 |
|
Non-Cash Items |
19.4 |
6.7 |
0.7 |
22.8 |
-1.0 |
|
Accounts Receivable |
-136.2 |
-215.9 |
-10.7 |
19.1 |
-56.9 |
|
Inventories |
110.8 |
-132.2 |
41.2 |
-70.4 |
-48.5 |
|
Prepaid Expenses |
- |
- |
0.8 |
-0.4 |
-6.0 |
|
Other Assets |
-81.8 |
16.0 |
3.6 |
-1.6 |
-0.2 |
|
Accounts Payable |
40.1 |
147.0 |
-7.5 |
12.5 |
42.9 |
|
Accrued Expenses |
- |
- |
-20.7 |
8.2 |
3.1 |
|
Taxes Payable |
- |
- |
-1.0 |
0.4 |
0.4 |
|
Other Liabilities |
58.2 |
37.6 |
-28.7 |
56.6 |
-5.7 |
|
Other Assets & Liabilities, Net |
-5.6 |
2.1 |
- |
- |
- |
|
Other Operating Cash Flow |
13.8 |
10.4 |
13.2 |
23.5 |
- |
|
Changes in Working Capital |
-0.8 |
-134.9 |
-9.7 |
48.0 |
-71.1 |
|
Cash from Operating Activities |
64.7 |
-80.1 |
-40.8 |
83.0 |
-28.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-2.4 |
-2.2 |
-1.5 |
-8.2 |
-21.9 |
|
Purchase/Acquisition of Intangibles |
-6.7 |
-4.7 |
-0.2 |
-20.6 |
-0.7 |
|
Capital Expenditures |
-9.1 |
-6.9 |
-1.8 |
-28.7 |
-22.6 |
|
Sale of Fixed Assets |
0.0 |
0.1 |
0.0 |
0.7 |
5.1 |
|
Sale/Maturity of Investment |
1.6 |
1.1 |
8.3 |
45.7 |
31.4 |
|
Investment, Net |
55.7 |
-52.0 |
- |
- |
- |
|
Purchase of Investments |
-4.5 |
-0.4 |
-1.9 |
-1.8 |
-17.0 |
|
Sale of Intangible Assets |
- |
- |
- |
0.0 |
- |
|
Other Investing Cash Flow |
-3.6 |
-9.5 |
1.2 |
18.8 |
-193.0 |
|
Other Investing Cash Flow Items, Total |
49.2 |
-60.7 |
7.6 |
63.4 |
-173.5 |
|
Cash from Investing Activities |
40.1 |
-67.7 |
5.8 |
34.7 |
-196.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
0.0 |
-25.3 |
-3.0 |
|
Financing Cash Flow Items |
- |
- |
0.0 |
-25.3 |
-3.0 |
|
Cash Dividends Paid - Common |
-5.0 |
- |
-0.6 |
- |
- |
|
Total Cash Dividends Paid |
-5.0 |
- |
-0.6 |
- |
- |
|
Sale/Issuance of
Common |
- |
0.0 |
- |
- |
- |
|
Common Stock, Net |
- |
0.0 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
- |
0.0 |
- |
- |
- |
|
Short Term Debt Issued |
- |
- |
55.6 |
4.3 |
30.7 |
|
Short Term Debt
Reduction |
- |
- |
-8.6 |
- |
- |
|
Short Term Debt, Net |
68.0 |
152.8 |
47.0 |
4.3 |
30.7 |
|
Long Term Debt Issued |
15.5 |
45.1 |
41.7 |
23.1 |
159.9 |
|
Long Term Debt
Reduction |
-6.4 |
-85.1 |
-42.5 |
-34.5 |
-2.6 |
|
Long Term Debt, Net |
9.2 |
-40.0 |
-0.9 |
-11.3 |
157.4 |
|
Issuance (Retirement) of Debt, Net |
77.1 |
112.8 |
46.1 |
-7.0 |
188.0 |
|
Cash from Financing Activities |
72.1 |
112.8 |
45.4 |
-32.3 |
185.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
1.0 |
-1.2 |
12.7 |
5.8 |
|
Net Change in Cash |
179.8 |
-34.0 |
9.1 |
98.1 |
-34.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
141.2 |
169.3 |
144.2 |
69.2 |
116.0 |
|
Net Cash - Ending Balance |
321.0 |
135.3 |
153.4 |
167.3 |
82.0 |
|
Cash Interest Paid |
18.3 |
17.8 |
- |
- |
- |
|
Cash Taxes Paid |
4.3 |
2.7 |
- |
- |
- |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales Revenue |
4,918.2 |
3,230.2 |
- |
3,167.4 |
1,883.6 |
|
General Revenues |
- |
- |
2,445.7 |
- |
- |
|
Revenue from Resource Development |
- |
- |
15.1 |
- |
- |
|
Income from Fee & Charges |
- |
- |
27.0 |
- |
- |
|
Total Revenue |
4,918.2 |
3,230.2 |
2,487.8 |
3,167.4 |
1,883.6 |
|
|
|
|
|
|
|
|
Costs of Goods and Services Sold |
4,793.3 |
3,128.4 |
- |
3,069.2 |
1,800.8 |
|
Cost of General Rev. |
- |
- |
2,410.1 |
- |
- |
|
Cost-Resource Development |
- |
- |
12.2 |
- |
- |
|
Cost-Fee & Commission |
- |
- |
4.2 |
- |
- |
|
Salaries and Wages |
31.3 |
23.6 |
17.4 |
18.6 |
19.2 |
|
Retirement and Severance Benefits |
1.7 |
1.3 |
1.4 |
1.9 |
2.9 |
|
Employee Benefits |
3.9 |
3.0 |
2.3 |
2.4 |
2.3 |
|
Communication Expense |
- |
- |
0.6 |
0.7 |
- |
|
Utility Expense |
- |
- |
0.7 |
0.7 |
- |
|
Expense-Consumable Goods |
- |
- |
0.0 |
0.1 |
- |
|
Publishing & Printing Expense |
- |
- |
0.3 |
0.2 |
- |
|
Office Supplies Expense |
- |
- |
0.1 |
0.1 |
- |
|
Travel Expenses |
3.8 |
3.1 |
2.1 |
2.2 |
2.0 |
|
Taxes and Dues |
1.8 |
1.6 |
1.3 |
1.3 |
1.2 |
|
Vehicles Maintenance Expense |
- |
- |
0.4 |
0.4 |
- |
|
Repair Expense |
- |
- |
0.0 |
0.1 |
- |
|
Insurance Expense |
- |
- |
0.5 |
0.5 |
- |
|
Shipping & Handling Expense |
- |
- |
0.4 |
0.6 |
- |
|
Entertainment Expense |
2.0 |
1.6 |
1.2 |
1.3 |
- |
|
Rental Expenses |
2.3 |
2.4 |
2.8 |
2.9 |
3.2 |
|
Depreciation |
1.6 |
0.9 |
1.0 |
0.9 |
0.5 |
|
Advertising Expense |
- |
- |
0.1 |
0.2 |
- |
|
Amortization of Intangible Assets |
0.5 |
0.1 |
1.2 |
1.3 |
- |
|
Education & Training Expense |
- |
- |
0.1 |
0.2 |
- |
|
Overseas Residence Expense |
13.2 |
11.1 |
9.6 |
7.7 |
- |
|
Overseas Market Development Expense |
- |
- |
0.8 |
1.1 |
- |
|
Expense-Samples |
- |
- |
0.0 |
0.1 |
- |
|
Activity Expense |
- |
- |
0.1 |
0.2 |
- |
|
Safety Training Expense |
- |
- |
0.0 |
0.0 |
- |
|
Expenses of Allowance for Doubtful Accou |
0.3 |
- |
2.0 |
7.6 |
- |
|
Commissions |
5.4 |
4.6 |
4.4 |
5.6 |
7.0 |
|
Computing Expenses |
1.8 |
1.9 |
1.9 |
2.2 |
2.7 |
|
Other Selling and Administrative Expense |
7.6 |
6.4 |
0.9 |
0.2 |
14.4 |
|
Adjustment for Selling and Administrativ |
0.0 |
0.0 |
- |
- |
- |
|
Income of Foreign Assets&Liabilities |
-131.7 |
-88.7 |
- |
- |
- |
|
Dividend Income |
-15.7 |
-10.9 |
- |
- |
- |
|
Income of Derivatives Assets |
-10.4 |
-8.0 |
- |
- |
- |
|
Other Operating Income |
-5.0 |
-6.3 |
- |
- |
- |
|
Adjustment for Other Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Loss of Foreign Assets&Liabilities |
130.2 |
88.3 |
- |
- |
- |
|
Loss of Derivatives Assets |
11.9 |
5.6 |
- |
- |
- |
|
Impairment Loss on Securities Held-to-Ma |
2.1 |
0.9 |
- |
- |
- |
|
Loss on Disposal of Trade Receivable |
3.7 |
3.4 |
- |
- |
- |
|
Donations Paid |
3.8 |
0.5 |
- |
- |
- |
|
Other Operating Expense |
11.3 |
12.5 |
- |
- |
- |
|
Adjustment for Other Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
4,870.7 |
3,187.4 |
2,480.1 |
3,130.4 |
1,856.3 |
|
|
|
|
|
|
|
|
Interest Income |
4.4 |
5.7 |
3.5 |
6.4 |
9.4 |
|
Dividend Income |
- |
- |
9.4 |
15.5 |
13.2 |
|
Revers-Doubtful Acct |
- |
- |
4.4 |
0.1 |
0.1 |
|
Other Non-Operating Income |
- |
- |
1.2 |
3.1 |
1.3 |
|
G-For Curr Transactn |
- |
- |
74.6 |
115.0 |
18.0 |
|
G-For Exch Translatn |
- |
- |
12.8 |
57.8 |
4.2 |
|
G-Currency Futr Trad |
- |
- |
7.6 |
10.8 |
1.4 |
|
G-Currency Futr Val. |
- |
- |
0.4 |
2.3 |
- |
|
Gain-Valuation of Contracts-Settlement |
- |
- |
0.1 |
- |
- |
|
G-Dispose LT Investment Securities |
- |
- |
0.0 |
0.0 |
13.5 |
|
G-Reduction of LT Investment Securities |
- |
- |
0.5 |
1.4 |
2.9 |
|
G-Tang Asset Disp. |
- |
- |
0.0 |
0.1 |
0.8 |
|
G-Disp. of Trande Receivable |
- |
- |
- |
- |
1.8 |
|
Interest Expenses |
-18.5 |
-18.1 |
-15.0 |
-17.5 |
-13.8 |
|
Other Amortization |
- |
- |
0.0 |
-0.6 |
-4.5 |
|
Donations Paid |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Non-Op Expense |
- |
- |
-53.2 |
-3.2 |
-6.3 |
|
L-For Curr Transactn |
- |
- |
-77.1 |
-119.1 |
-15.5 |
|
L-for Exch Translatn |
- |
- |
-15.0 |
-50.5 |
-3.3 |
|
Loss-Curr Fut. Trade |
- |
- |
-4.0 |
-26.3 |
-0.7 |
|
L-Currency Future Valuation |
- |
- |
- |
0.0 |
0.0 |
|
Loss Value Inventory |
- |
- |
- |
-23.6 |
- |
|
L-LT Inv Secs Valuation |
- |
- |
- |
- |
-0.1 |
|
Loss-Valuation of Derivatives |
- |
- |
-0.1 |
- |
- |
|
L-Inv Asset Disposal |
- |
- |
- |
- |
-0.1 |
|
Loss-Disposal of Investment Securities |
- |
- |
0.0 |
0.0 |
- |
|
Loss-Disposal of Equity Method Sec. |
- |
- |
- |
-0.3 |
-0.1 |
|
Recovery-Invest. Asset Reduction Loss |
- |
- |
- |
-6.4 |
- |
|
Loss-Reduction of Investment Securities |
- |
- |
-0.4 |
-0.6 |
-4.8 |
|
L-Trade Rcv Disposal |
- |
- |
-7.5 |
-17.2 |
-13.6 |
|
L-Tang Asset Disp. |
- |
- |
0.0 |
0.0 |
-0.2 |
|
Gain under Equity Method |
- |
- |
12.6 |
23.8 |
10.4 |
|
Gain/Loss on Investments in Affiliates |
17.4 |
14.1 |
- |
- |
- |
|
Gains of Foreign Assets&Liabilities |
34.6 |
4.4 |
- |
- |
- |
|
Adjustment for Finance Income |
0.0 |
0.0 |
- |
- |
- |
|
Expense of Foreign Assets&Liabilities |
-31.4 |
-1.1 |
- |
- |
- |
|
Adjustment for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
54.0 |
47.8 |
-37.5 |
7.9 |
41.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
16.2 |
6.6 |
9.9 |
6.2 |
-6.4 |
|
Net Income After Taxes |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
|
|
|
|
|
|
|
Minority Interest |
1.8 |
0.9 |
5.1 |
7.8 |
-0.9 |
|
Net Income Before Extra. Items |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Basic EPS Excluding ExtraOrdin |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Basic EPS Including ExtraOrdin |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
39.6 |
42.1 |
-42.3 |
9.5 |
46.9 |
|
Diluted Weighted Average Share |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Diluted EPS Excluding ExtraOrd |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
Diluted EPS Including ExtraOrd |
1.77 |
1.88 |
-1.90 |
0.43 |
2.10 |
|
DPS-Common Stock |
0.45 |
0.22 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
10.1 |
4.8 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
57.7 |
51.2 |
-29.9 |
25.2 |
52.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
17.3 |
7.0 |
12.5 |
12.2 |
-2.5 |
|
Normalized Income After Taxes |
40.4 |
44.1 |
-42.4 |
13.0 |
55.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
42.2 |
45.0 |
-37.3 |
20.8 |
54.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Diluted Normalized EPS |
1.89 |
2.02 |
-1.67 |
0.93 |
2.43 |
|
Interest Expense |
18.5 |
18.1 |
15.0 |
17.5 |
13.8 |
|
Advertising Expense, Supplemental |
- |
- |
0.1 |
0.2 |
- |
|
Rental Expense, Supplemental |
2.3 |
2.4 |
2.6 |
2.9 |
3.2 |
|
Amort of Acquisition Costs, Su |
- |
- |
0.1 |
0.2 |
0.2 |
|
Amort of Intangibles, Suppleme |
3.0 |
2.6 |
2.9 |
2.6 |
1.7 |
|
Depreciation |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
Annual Balance Sheet
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 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
308.7 |
137.8 |
168.1 |
146.1 |
81.4 |
|
ST Finl Assets |
4.7 |
59.2 |
5.8 |
13.7 |
64.1 |
|
ST Investment Securities |
- |
- |
0.0 |
0.0 |
0.0 |
|
Current Securities Held-to-Maturities |
- |
0.0 |
- |
- |
- |
|
Trade Rcvb Gross |
662.6 |
575.0 |
266.5 |
215.3 |
202.2 |
|
Allowance for Doubtful Accounts |
-11.3 |
-11.3 |
-31.3 |
-23.2 |
-28.6 |
|
ST Loans |
- |
- |
- |
0.6 |
- |
|
Account Receivables |
41.2 |
11.6 |
5.3 |
36.3 |
19.8 |
|
Receivable-Recovery of Taxes |
- |
0.7 |
0.4 |
0.6 |
- |
|
Accrued Income |
4.3 |
2.4 |
5.8 |
5.7 |
6.3 |
|
Advance Payments |
110.2 |
30.2 |
57.7 |
187.2 |
33.2 |
|
Prepaid Expenses |
2.9 |
2.8 |
1.2 |
1.5 |
1.1 |
|
Prepaid Inc Tax |
- |
- |
- |
- |
0.6 |
|
Derivatives |
- |
- |
0.5 |
2.0 |
- |
|
Guarantee Deposits, Current Assets |
1.3 |
1.4 |
2.7 |
3.7 |
2.1 |
|
Other Current Assets |
- |
- |
0.0 |
0.6 |
2.9 |
|
Contracts on Settlement |
- |
- |
0.1 |
- |
- |
|
Deferred Income Tax, Current |
- |
- |
2.2 |
6.3 |
8.1 |
|
Import Merchand. |
- |
- |
9.2 |
10.3 |
2.8 |
|
Merchandise |
107.9 |
316.2 |
0.3 |
0.0 |
0.3 |
|
Export Merchand. |
- |
- |
137.5 |
65.3 |
67.0 |
|
Finished Goods |
1.8 |
1.5 |
0.6 |
49.2 |
2.7 |
|
Raw Material |
15.5 |
18.7 |
10.3 |
14.3 |
34.8 |
|
Goods in Transit |
101.9 |
4.3 |
44.0 |
95.6 |
86.2 |
|
Works in Process |
0.0 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Miscellaneous Inventory |
- |
- |
0.1 |
0.0 |
0.1 |
|
Current Derivative Assets |
0.4 |
0.4 |
- |
- |
- |
|
Adjustment for Trade Receivables |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Inventories |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Receivables |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Assets |
1,352.1 |
1,151.1 |
687.0 |
831.1 |
587.0 |
|
|
|
|
|
|
|
|
LT Finl Assets |
0.0 |
0.2 |
0.1 |
0.1 |
0.0 |
|
LT Invest Secs. |
- |
- |
8.1 |
5.0 |
8.3 |
|
Invest-Oil Dev't |
- |
- |
- |
- |
196.1 |
|
Other Inv Assets |
- |
- |
- |
- |
1.0 |
|
Non-Current Securities Held-to-Maturitie |
0.0 |
2.1 |
- |
- |
- |
|
Non-Current Securities Available-for-Sal |
91.6 |
5.3 |
- |
- |
- |
|
Investment in Affiliates |
108.5 |
4.7 |
4.1 |
4.0 |
9.2 |
|
Non-Current Loans |
51.0 |
40.6 |
61.7 |
61.4 |
73.0 |
|
LT Account Receivable |
- |
- |
3.2 |
3.2 |
0.1 |
|
LT Guarantee Dep |
- |
- |
5.7 |
5.4 |
6.3 |
|
Natural Resource Development Funds |
91.6 |
97.1 |
155.4 |
22.9 |
- |
|
LT Prepaid Expen |
- |
- |
5.0 |
4.1 |
5.9 |
|
Non-Current Deferred Income Taxes Assets |
0.5 |
8.1 |
10.6 |
13.8 |
22.3 |
|
LT Accrued Incom |
- |
- |
- |
- |
1.0 |
|
Other Non-Current Assets |
5.7 |
7.7 |
- |
- |
- |
|
Land |
- |
- |
0.2 |
0.2 |
0.3 |
|
Buildings |
- |
- |
6.6 |
6.3 |
17.2 |
|
Buildings Depre. |
- |
- |
-1.6 |
-1.4 |
-2.7 |
|
Buildings Reduce |
- |
- |
-1.6 |
-1.5 |
-2.0 |
|
Buildings & Structures |
37.5 |
37.0 |
- |
- |
- |
|
Buildings & Structures-Depreciation |
-8.6 |
-7.0 |
- |
- |
- |
|
Buildings & Structures-Reduction |
-1.6 |
-1.6 |
- |
- |
- |
|
Structures |
- |
- |
28.7 |
26.1 |
- |
|
Structure Depre. |
- |
- |
-3.6 |
-2.2 |
- |
|
Transport Equip. |
- |
- |
1.4 |
1.3 |
1.3 |
|
Transport Deprec |
- |
- |
-1.1 |
-0.8 |
-0.9 |
|
Tools & Equipments |
7.6 |
13.9 |
13.1 |
12.4 |
11.8 |
|
Tool/Equip Depr. |
-3.6 |
-10.6 |
-9.7 |
-8.6 |
-10.6 |
|
Rent Building Impr. |
- |
- |
4.6 |
0.3 |
0.3 |
|
Rent Build Depr. |
- |
- |
-3.0 |
-0.2 |
-0.2 |
|
Machineries & Equipments |
23.8 |
23.4 |
18.1 |
21.6 |
19.5 |
|
Machineries & Equipments-Depreciation |
-11.8 |
-9.9 |
-4.9 |
-5.5 |
-3.9 |
|
Lease Assets |
- |
- |
0.1 |
- |
0.5 |
|
Lease Assets-Depreciation |
- |
- |
0.0 |
- |
- |
|
Construc in Prog |
- |
- |
0.3 |
2.2 |
15.0 |
|
Goodwill |
- |
- |
- |
0.1 |
0.4 |
|
Other Intangible Assets |
3.6 |
1.1 |
20.7 |
21.1 |
4.6 |
|
Overseas Mining Development Cost |
28.0 |
28.9 |
25.4 |
24.4 |
33.5 |
|
Land Lease Rights |
4.3 |
4.3 |
- |
- |
- |
|
Trade Mark Rights |
18.0 |
18.2 |
- |
- |
- |
|
Membership Right |
5.1 |
3.9 |
- |
- |
- |
|
Other Property Plant & Equipment |
3.1 |
3.0 |
- |
- |
- |
|
Other Property Plant & Equipment-Depreci |
-1.7 |
-1.5 |
- |
- |
- |
|
Adjustment for Property, Plant & Equipme |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Intangible Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Assets |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
Current Trade Payables |
579.7 |
577.4 |
353.7 |
392.4 |
337.0 |
|
Current Borrowings |
442.8 |
374.3 |
106.7 |
54.2 |
46.0 |
|
Other Payables |
72.2 |
27.3 |
63.4 |
42.0 |
19.1 |
|
Advance from Customers, Current Liabilit |
158.6 |
101.1 |
92.2 |
116.6 |
59.0 |
|
Unearned Income |
- |
3.3 |
- |
- |
- |
|
Guarantee Deposits Withholdings, Current |
0.1 |
0.3 |
0.3 |
0.3 |
0.1 |
|
Accrued Expenses |
1.5 |
3.5 |
5.2 |
14.9 |
5.8 |
|
Dividend Payable |
- |
- |
0.0 |
0.0 |
0.0 |
|
Inc. Taxes Pay. |
9.7 |
1.4 |
1.2 |
2.0 |
1.9 |
|
Withholdings |
6.5 |
5.2 |
4.4 |
4.5 |
6.5 |
|
Reserve-Sales Guarantee |
- |
- |
0.8 |
- |
0.0 |
|
Current Portion of Provision for Curren |
8.2 |
12.9 |
- |
- |
- |
|
Other Cur Liabs. |
- |
- |
4.1 |
0.5 |
0.4 |
|
Currency Futures, Liab. |
- |
- |
- |
0.0 |
0.0 |
|
Current Derivatives Liabilities |
0.4 |
0.4 |
0.2 |
- |
- |
|
Current Portion of LT Debt |
42.6 |
42.3 |
114.8 |
- |
- |
|
Adj.-Other Current Payables |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liability |
1,322.4 |
1,149.4 |
746.8 |
627.4 |
476.0 |
|
|
|
|
|
|
|
|
Bonds |
43.3 |
43.9 |
- |
48.0 |
66.9 |
|
Non-Current Borrowings |
58.5 |
49.5 |
86.7 |
149.2 |
39.5 |
|
Foreign Curr LTD |
- |
- |
- |
- |
111.4 |
|
Total Long Term Debt |
101.8 |
93.4 |
86.7 |
197.2 |
217.9 |
|
|
|
|
|
|
|
|
LT Trade Payable |
- |
- |
72.8 |
56.4 |
90.5 |
|
Other Non-Current Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Minority Interests |
-1.7 |
0.9 |
1.6 |
2.9 |
7.6 |
|
Retire Reserve |
- |
- |
8.1 |
2.4 |
2.9 |
|
Plan Assets |
- |
- |
-5.9 |
- |
- |
|
Transfer to National Pension Fund |
- |
- |
-0.1 |
- |
- |
|
Deferred Income Taxes, Non-Current Liabi |
39.3 |
- |
- |
- |
- |
|
Non-Current Fixed Benefit Liabilities |
4.0 |
2.1 |
- |
- |
- |
|
Non-Current Provisions |
2.0 |
1.9 |
- |
- |
- |
|
Total Liabilities |
1,467.8 |
1,247.6 |
910.1 |
886.5 |
794.8 |
|
|
|
|
|
|
|
|
Common Stock |
96.9 |
98.4 |
95.9 |
88.6 |
119.3 |
|
Treasury Stock |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Capital Adjustment |
-13.2 |
-13.4 |
-13.0 |
-7.2 |
- |
|
Consolidated Retained Earnings |
117.0 |
87.0 |
34.8 |
75.1 |
89.3 |
|
Gain on Valuation of Securities Availabl |
66.4 |
0.5 |
0.0 |
- |
- |
|
Capital Change, Equity Method |
75.5 |
0.0 |
0.4 |
0.2 |
- |
|
Value-Secs under Equity Method |
0.0 |
0.0 |
-1.7 |
-1.4 |
-3.2 |
|
Overseas Business Translation Debit |
-5.7 |
-0.2 |
8.2 |
4.9 |
-5.8 |
|
Adj.-Accumulated Other Comprehensive Inc |
0.0 |
0.0 |
- |
- |
- |
|
Total Equity |
336.9 |
172.3 |
124.6 |
160.3 |
199.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
1,804.7 |
1,419.9 |
1,034.7 |
1,046.7 |
994.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
Total Common Shares Outstandin |
22.3 |
22.3 |
22.3 |
22.3 |
22.3 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
158.6 |
104.4 |
92.2 |
116.6 |
59.0 |
|
Full-Time Employees |
361 |
290 |
236 |
241 |
271 |
|
Number of Common Shareholders |
- |
11,810 |
10,422 |
8,912 |
9,864 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
62.8 |
197.2 |
- |
|
Long Term Debt Maturing within 2 Years |
- |
- |
9.5 |
64.0 |
140.0 |
|
Long Term Debt Maturing within 3 Years |
- |
- |
9.5 |
6.3 |
- |
|
Long Term Debt Maturing within 4 Years |
- |
- |
9.5 |
9.5 |
- |
|
Long Term Debt Maturing within 5 Years |
- |
- |
9.5 |
9.6 |
- |
|
Long Term Debt Remaining Maturities |
- |
- |
48.8 |
59.6 |
77.9 |
|
Total Long Term Debt, Supplemental |
- |
- |
149.4 |
346.4 |
217.9 |
Annual Cash Flows
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 |
Updated 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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
37.8 |
41.2 |
-47.4 |
1.7 |
47.8 |
|
Depreciation |
5.2 |
4.4 |
4.4 |
3.9 |
2.9 |
|
Amortization of Intangible Assets |
3.0 |
2.6 |
2.9 |
2.8 |
1.8 |
|
Payment for Retirement Allowance, ONCI |
1.7 |
1.3 |
1.4 |
1.9 |
2.9 |
|
Expense of Allowance for Doubtful Accoun |
0.3 |
- |
2.0 |
7.6 |
1.3 |
|
Expenses of Allowance for Other Doubtful |
8.1 |
- |
- |
- |
- |
|
Amort-Othr Bad Debt |
- |
- |
0.0 |
0.6 |
4.5 |
|
Accrued Interest Expense |
- |
- |
0.1 |
0.1 |
0.1 |
|
Provision-Construction Loss |
- |
- |
4.6 |
- |
- |
|
L-For Exch Translatn |
- |
- |
15.0 |
49.9 |
3.3 |
|
Loss-Valuation of Contract on Settlement |
- |
- |
- |
0.0 |
- |
|
L-Inventory Valuation |
- |
- |
0.5 |
23.6 |
- |
|
Loss-Valuation of Derivatives |
- |
- |
0.1 |
- |
0.0 |
|
L-LT Investment Securities Valuation |
- |
- |
- |
0.3 |
0.1 |
|
L-Reduct. of Inv. Assets |
- |
- |
- |
6.4 |
- |
|
L-Reduct. of LT Inv. Secs. |
- |
- |
0.4 |
0.6 |
4.8 |
|
Reduction Loss on Securities Held-to-Mat |
2.1 |
0.9 |
- |
- |
- |
|
Disposal Loss on Trade Receivables |
3.7 |
3.4 |
7.5 |
17.2 |
13.6 |
|
L-Tang Asset Disp. |
- |
- |
0.0 |
0.0 |
0.2 |
|
L-Inv Asset Disp. |
- |
- |
- |
- |
0.1 |
|
L-LT Inv Secs Disposal |
- |
- |
0.0 |
0.0 |
0.1 |
|
Revers-Doubtful Acct |
- |
- |
-4.4 |
-0.1 |
-0.1 |
|
Interest Expenses |
18.5 |
18.1 |
- |
- |
- |
|
Interest Income |
-4.4 |
-5.7 |
- |
- |
- |
|
Dividend Income,on |
-15.7 |
-10.9 |
- |
- |
- |
|
Corporate Taxes Expense |
16.2 |
6.6 |
- |
- |
- |
|
Contract on Settlement |
- |
- |
0.0 |
- |
- |
|
G-For Exch Translatn |
- |
- |
-12.8 |
-57.8 |
-4.2 |
|
G-Currency Futr Val. |
- |
- |
-0.4 |
-2.3 |
- |
|
Gain-Valuation of Contract on Settlement |
- |
- |
-0.1 |
- |
- |
|
G-Reduction LT Investment Securities |
- |
- |
-0.5 |
- |
-2.9 |
|
G-Tang Asset Disp. |
- |
- |
0.0 |
-0.1 |
-0.8 |
|
G-Dispose ST Investment Securities |
- |
- |
- |
-1.4 |
- |
|
G-Dispose LT Investment Securities |
- |
- |
0.0 |
0.0 |
-13.5 |
|
G-Equity Method Val. |
- |
- |
-12.6 |
-23.8 |
-10.4 |
|
Gain/Loss under Equity Method |
-17.4 |
-14.1 |
- |
- |
- |
|
Gain/Loss on Valuation of Derivative Fin |
0.0 |
-0.1 |
- |
- |
- |
|
Gain/Loss on Foreign Currency Translatio |
0.1 |
2.0 |
- |
- |
- |
|
Other Cash Flow from Operating Activitie |
6.2 |
5.2 |
- |
- |
- |
|
Trade Receivables |
-89.4 |
-211.0 |
-44.0 |
30.0 |
-48.4 |
|
LT Trade Rcvbls. |
- |
- |
- |
0.7 |
14.0 |
|
Other Current Receivables |
-46.7 |
-4.9 |
33.6 |
-12.2 |
-17.3 |
|
Accrued Income |
- |
- |
-0.3 |
0.7 |
-5.3 |
|
Inventories |
110.8 |
-132.2 |
41.2 |
-93.2 |
-47.4 |
|
Advanced Payments |
- |
- |
0.0 |
22.8 |
-1.1 |
|
Prepaid Expenses |
- |
- |
0.6 |
-0.5 |
0.0 |
|
LT Prepaid Expenses |
- |
- |
- |
0.4 |
-5.9 |
|
Prepaid Taxes |
- |
- |
0.3 |
-0.2 |
0.0 |
|
Security Deposits |
- |
- |
1.0 |
-1.9 |
-0.7 |
|
Other Current Assets |
-81.8 |
27.6 |
0.6 |
0.4 |
0.5 |
|
Derivatives in Assets |
- |
- |
2.0 |
0.0 |
0.0 |
|
Source Development Cost |
-1.9 |
-14.6 |
- |
- |
- |
|
Decrease in Other Non-Current Assets |
1.9 |
3.0 |
- |
- |
- |
|
Deferred Taxes-Asset |
- |
- |
8.3 |
3.7 |
-9.2 |
|
Trade Payables |
-5.1 |
195.2 |
-36.8 |
-2.0 |
38.7 |
|
Other Payables |
45.1 |
-48.2 |
29.3 |
14.4 |
4.2 |
|
Accrued Expenses |
- |
- |
-20.7 |
8.2 |
3.1 |
|
Accrued Income Tax |
- |
- |
-1.0 |
0.4 |
0.4 |
|
Advance from Customers |
58.2 |
37.6 |
-26.0 |
58.4 |
-6.1 |
|
Deposits Withheld |
- |
- |
-0.3 |
-1.1 |
3.9 |
|
Security Deposit |
- |
- |
0.0 |
0.2 |
0.0 |
|
Unearned Income |
- |
- |
- |
0.7 |
-0.2 |
|
Other Current Liab. |
- |
- |
-0.3 |
0.1 |
0.2 |
|
Other Non-Current Liabilities |
- |
- |
-0.2 |
- |
0.0 |
|
Nation Pension Fund |
- |
- |
0.0 |
0.0 |
0.0 |
|
Reserve for Sales Guarantee |
- |
- |
0.7 |
0.0 |
-0.4 |
|
Retirement Pension Operating Fund |
- |
- |
-1.0 |
-0.9 |
-1.4 |
|
Reserve-Severance & Retirement Benefit |
- |
- |
- |
0.4 |
-0.1 |
|
Payment-Retirement Bonus |
- |
- |
-0.8 |
-1.2 |
-1.6 |
|
Reserve-Construction Loss |
- |
- |
-0.8 |
- |
- |
|
Other Assets and Liabilities |
-5.6 |
2.1 |
- |
- |
- |
|
Dividend Income, A/L |
33.0 |
24.9 |
13.2 |
23.5 |
- |
|
Adjustment for Operating Activities |
0.0 |
0.0 |
- |
- |
- |
|
Cash-Interest Received |
3.5 |
6.0 |
- |
- |
- |
|
Cash-Interest Paid |
-18.3 |
-17.8 |
- |
- |
- |
|
Cash-Tax Paid |
-4.3 |
-2.7 |
- |
- |
- |
|
Adjustment for Operating Assets & Liabil |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Operating Activities |
64.7 |
-80.1 |
-40.8 |
83.0 |
-28.7 |
|
|
|
|
|
|
|
|
Dispose-ST Investment Securities |
- |
- |
0.0 |
0.0 |
0.1 |
|
Disp of LT Invest Secs. |
- |
- |
0.0 |
2.5 |
16.8 |
|
Dec-LT Finl Assets |
- |
- |
8.2 |
38.8 |
- |
|
Disposal of Investment in Affiliates |
0.3 |
- |
- |
4.4 |
12.1 |
|
Disposal of Securities Available-for-Sal |
1.3 |
0.6 |
- |
- |
- |
|
Dec. Other Inv Asset |
- |
- |
- |
- |
2.4 |
|
Disposal of Securities Held-to-Maturitie |
0.0 |
0.5 |
- |
- |
- |
|
Decrease-ST Loans |
- |
- |
1.2 |
- |
- |
|
Decrease in LT Loans |
0.1 |
0.1 |
0.0 |
27.1 |
- |
|
Dec-Guarantee Dep |
- |
- |
0.1 |
0.0 |
- |
|
LT Account Receivable |
- |
- |
- |
- |
-1.0 |
|
Disposal of Property, Plant and Equipmen |
0.0 |
0.1 |
0.0 |
0.7 |
5.1 |
|
Dispose-Intangibles |
- |
- |
- |
0.0 |
- |
|
ST Finl Assets |
55.7 |
-52.0 |
- |
- |
- |
|
Inc-ST Finl Assets |
- |
- |
- |
- |
-17.0 |
|
Inc-LT Finl Assets |
- |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Acq-ST Investment Securities |
- |
- |
-1.8 |
-1.8 |
- |
|
Increase-Securities under Equity Method |
-4.5 |
-0.4 |
- |
- |
- |
|
Increase in ST Loans |
- |
- |
- |
-0.6 |
- |
|
Inc Oil Develop Fund |
- |
- |
0.0 |
-7.3 |
-140.2 |
|
Increase in Non-Current Loans |
-3.8 |
-9.5 |
0.0 |
-0.1 |
-50.8 |
|
Inc in Guarant Depos |
- |
- |
-0.2 |
-0.3 |
-0.9 |
|
Acq-Tangible Assets |
-2.4 |
-2.2 |
-1.5 |
-8.2 |
-21.9 |
|
Purchase of Intangible Assets |
-6.7 |
-4.7 |
-0.2 |
-20.6 |
-0.7 |
|
Cash from Investing Activities |
40.1 |
-67.7 |
5.8 |
34.7 |
-196.1 |
|
|
|
|
|
|
|
|
Increase-Bond |
- |
43.1 |
41.1 |
- |
- |
|
Increase in Non-Current Borrowings |
15.5 |
2.0 |
0.6 |
23.1 |
68.8 |
|
Inc in ST Borrowings |
- |
- |
55.6 |
4.3 |
30.7 |
|
Inc LT Account Payable |
- |
- |
- |
0.0 |
91.1 |
|
Disposal-Treasury Stock |
- |
0.0 |
- |
- |
- |
|
Decrease-ST Borrowings |
- |
- |
-8.6 |
- |
- |
|
Dec-Current Portion of LT Liabilities |
-6.4 |
-82.2 |
- |
- |
- |
|
Repayment of Bonds |
- |
- |
-41.1 |
-2.0 |
- |
|
Decrease-LT Borrowings |
- |
-2.9 |
-1.4 |
-32.5 |
-2.6 |
|
Decrease-LT Accrued Payment |
- |
- |
0.0 |
-22.8 |
- |
|
Consolidated Scope Adjustment |
- |
- |
- |
-2.5 |
-3.0 |
|
Dividend Paid |
-5.0 |
- |
-0.6 |
- |
- |
|
Current Borrowings, Net |
68.0 |
152.8 |
- |
- |
- |
|
Cash from Financing Activities |
72.1 |
112.8 |
45.4 |
-32.3 |
185.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
1.0 |
-1.2 |
12.7 |
5.8 |
|
Net Change in Cash |
179.8 |
-34.0 |
9.1 |
98.1 |
-34.0 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
141.2 |
169.3 |
144.2 |
69.2 |
116.0 |
|
Cash and Cash Equivalents at End |
321.0 |
135.3 |
153.4 |
167.3 |
82.0 |
|
Cash Interest Paid |
18.3 |
17.8 |
- |
- |
- |
|
Cash Taxes Paid |
4.3 |
2.7 |
- |
- |
- |
Geographic
Segments
Financials in: As Reported (mil)
|
Annual |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Business Segments
Financials in: As Reported (mil)
|
Annual |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.76 |
|
UK Pound |
1 |
Rs.85.79 |
|
Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.