MIRA
INFORM REPORT
|
Report Date : |
11.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
HYUNJIN MATERIALS CO., LTD. |
|
|
|
|
Registered Office : |
1601-1, Songjeong-Dong, Gangseo-Gu, Busan, 618819 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
25.04.1978 |
|
|
|
|
Legal Form : |
Public Parent Company |
|
|
|
|
Line of Business : |
manufacturer
of metal forging product |
|
|
|
|
No. of Employees : |
305 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Hyunjin Materials Co., Ltd.
1601-1, Songjeong-Dong, Gangseo-Gu
Busan, 618819
Korea, Republic of
Tel: 82-51-6027700
Fax: 82-51-6027777
Web: www.hjmco.co.kr
Synthesis
Employees: 305
Company Type: Public Parent
Corporate Family: 2
Companies
Traded: KOSDAQ: 053660
Incorporation Date:
25-Apr-1978
Auditor: Deloitte & Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: South
Korean Won
Annual Sales: 258.7
1
Net Income: (21.1)
Total Assets: 515.9 2
Market Value: 92.3 (25-May-2012)
Business Description
Hyunjin Materials co., Ltd. is a Korea-based company engaged in the manufacture of metal forging products. The Company mainly produces metal forging products, including crank shafts, cylinder covers, piston heads, rotor shafts, turbine disks, connecting rods, cross heads and others used for ship engines and wind power plants. The Company distributes its products within domestic market and to overseas markets. As of December 31, 2011, the Company had five affiliated companies. For the fiscal year ended 31 December 2010, Hyunjin Materials' revenues decreased 26% to W299.18B. Net loss totaled W24.40B vs. an income of W24.42B. Revenues reflect decreased sales of metal forging and stainless products. Net income was also suffered from the absence of gain on disposal of equity method, decreased gain on foreign exchange translation as well as decreased gain on valuation of derivatives.
Industry
Industry Miscellaneous Fabricated Products
ANZSIC 2006: 2210 - Iron and
Steel Forging
NACE 2002: 2840 - Forging,
pressing, stamping and roll forming of metal; powder metallurgy
NAICS 2002: 332111 - Iron and
Steel Forging
UK SIC 2003: 2840 - Forging,
pressing, stamping and roll forming of metal; powder metallurgy
US SIC 1987: 3462 - Iron and
Steel Forgings
Key Executives
|
Name |
Title |
|
Chang Gyu Lee |
Chief Executive Officer, Director |
|
Ho Yin Myung |
Internal Auditor |
|
Ho Gyeong Kang |
Vice President |
|
Hyun Sung Jung |
Chief Financial Officer |
|
Hyo Jung Kim |
Manager-Sales & Marketing |
Significant
Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
Business Deals |
5 |
Hyunjin Materials Co., Ltd. Announces
Cancelation of Contract with HANGZHOU ZHONGGAO ENGINE CO., LTD |
29-Dec-2011 |
|
Equity Investments |
1 |
Hyunjin Materials Co., Ltd. Announces
Changes in Shareholding Structure |
7-Oct-2011 |
|
Debt Financing / Related |
5 |
Hyunjin Materials Co., Ltd. Adjusts
Exercise Price of Fourth Bonds with Warrants |
30-Apr-2012 |
* number of significant developments within the last 12 months
Financial
Summary
As of 31-Dec-2010
Key Ratios Company Industry
Sales 5 Year Growth 16.20 6.76
Stock
Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1156.282
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1134.9
Corporate Overview
Location
1601-1, Songjeong-Dong, Gangseo-Gu
Busan, 618819
Korea, Republic of
Tel: 82-51-6027700
Fax: 82-51-6027777
Web: www.hjmco.co.kr
Quote Symbol - Exchange
053660 - KOSDAQ
Sales KRW(mil): 299,178.8
Assets KRW(mil): 585,439.6
Employees: 305
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous Fabricated Products
Incorporation Date: 25-Apr-1978
Company Type: Public Parent
Quoted Status: Quoted
Chief Executive Officer,
Director: Chang Gyu Lee
Company Web Links
Corporate History/Profile
Financial Information
Home Page
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
231 - Motor Vehicle and Motor Vehicle Part Manufacturing
2210 - Iron and Steel Forging
NACE 2002 Codes:
2840 - Forging, pressing, stamping and roll forming of metal;
powder metallurgy
3410 - Manufacture of motor vehicles
NAICS 2002 Codes:
332111 - Iron and Steel Forging
336312 - Gasoline Engine and Engine Parts Manufacturing
US SIC 1987:
3714 - Motor Vehicle Parts and Accessories
3462 - Iron and Steel Forgings
UK SIC 2003:
3410 - Manufacture of motor vehicles
2840 - Forging, pressing, stamping and roll forming of metal;
powder metallurgy
Business
Description
Hyunjin Materials
co., Ltd. is a Korea-based company engaged in the manufacture of metal forging
products. The Company mainly produces metal forging products, including crank
shafts, cylinder covers, piston heads, rotor shafts, turbine disks, connecting
rods, cross heads and others used for ship engines and wind power plants. The
Company distributes its products within domestic market and to overseas
markets. As of December 31, 2011, the Company had five affiliated companies.
For the fiscal year ended 31 December 2010, Hyunjin Materials' revenues
decreased 26% to W299.18B. Net loss totaled W24.40B vs. an income of W24.42B.
Revenues reflect decreased sales of metal forging and stainless products. Net
income was also suffered from the absence of gain on disposal of equity method,
decreased gain on foreign exchange translation as well as decreased gain on
valuation of derivatives.
More Business
Descriptions
Production of engine components for ships and industrial plant
Engine Components Mfr
Forging and Stamping
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
|
|
|
|
Corporate
Family |
Corporate
Structure News: |
|
|
|
|
Hyunjin Materials Co., Ltd. |
|
|
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Hyunjin Materials Co., Ltd. |
Parent |
Busan |
Korea, Republic of |
Miscellaneous Fabricated Products |
258.7 |
305 |
|
|
Fine Specailty Steel.Co.,Ltd |
Subsidiary |
Pusan, Pusan |
Korea, Republic of |
Construction - Supplies and Fixtures |
|
30 |
|
Executive report
|
Board of
Directors |
|
|
|
|
|||||||||
|
Chairman of the Board |
Chairman |
|
|||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Chief Executive Officer, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executives |
|
|
|
|
|||||||||
|
Chief Executive Officer, Director |
Chief Executive Officer |
|
|||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director-Planning |
Managing Director |
|
|
||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
IUSA |
|
||||||||
|
Chief Financial Officer |
Finance Executive |
IUSA |
|
||||||||
|
Auditor |
Finance Executive |
IUSA |
|
||||||||
|
Internal Auditor |
Accounting Executive |
Reuters |
|
||||||||
|
||||||||||||
|
Manager-Sales & Marketing |
Sales Executive |
|
|
||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
|
Vice President |
Other |
|
|
||||||||
Significant Developments
Hyunjin Materials Co., Ltd. Adjusts Exercise Price of Fourth Bonds with Warrants Apr 30, 2012
Hyunjin Materials Co., Ltd. announced that it has adjusted the exercise price of its fourth bonds with warrants to KRW 10,707 from KRW 11,478 per share, effective April 29, 2012.
Hyunjin Materials Co., Ltd. Adjusts Exercise Price of Fourth Bonds with Warrants Jan 30, 2012
Hyunjin Materials Co., Ltd. announced that it has adjusted the exercise price of its fourth bonds with warrants to KRW 11,478 from KRW 12,718 per share, effective January 29, 2012.
Hyunjin Materials Co., Ltd. Announces Cancelation of Contract with HANGZHOU ZHONGGAO ENGINE CO., LTD Dec 29, 2011
Hyunjin Materials Co., Ltd. announced that its contract with China-based HANGZHOU ZHONGGAO ENGINE CO., LTD to supply parts for ship engines has been canceled according to the latter company's requests. The cancelled amount is KRW 35,914,185,000, and the contract was initially announced on March 26, 2008.
Hyunjin Materials Co., Ltd. Signs Contract with Doosan Engine Co., Ltd Dec 16, 2011
Hyunjin Materials Co., Ltd. announced that it has signed a contract with Doosan Engine Co., Ltd to supply forgings for marine engine. The contract amount is KRW 26,138,171,400.
Hyunjin Materials Co., Ltd. Adjusts Exercise Price of Fourth Bonds with Warrants Oct 31, 2011
Hyunjin Materials
Co., Ltd. announced that it has adjusted the exercise price of its fourth bonds
with warrants to KRW 12,718 from KRW 15,295 per share, effective October 29,
2011.
Hyunjin Materials
Co., Ltd. Announces Changes in Shareholding Structure Oct 07, 2011
Hyunjin Materials
Co., Ltd. announced that National Pension Service and its related party have
acquired a combined total of 913,993 shares of the Company, which is
representing a 6.18% stake in the Company.
Hyunjin Materials
Co., Ltd. Signs Contract with Sumitomo Corporation Sep 29, 2011
Hyunjin Materials
Co., Ltd. announced that it has signed a contract with Sumitomo Corporation to
supply main shaft for wind generator. The contract amount is KRW
40,587,147,000.
Hyunjin Materials
Co., Ltd. Signs Contract with DOOSAN HEAVY INDUSTRIES & CONSTRUCTION
CO.,LTD Sep 26, 2011
Hyunjin Materials
Co., Ltd. announced that it has signed a contract with DOOSAN HEAVY INDUSTRIES
& CONSTRUCTION CO.,LTD to supply forgings for marine engine. The contract
amount is KRW 17,332,922,085.
Hyunjin Materials
Co., Ltd. Signs Contract with Sumitomo Corporation Aug 30, 2011
Hyunjin Materials
Co., Ltd. announced that it has signed a contract with Sumitomo Corporation to
supply main shaft for wind generator. The contract amount is KRW
18,071,204,800.
Hyunjin Materials
Co., Ltd. Completes Issuance of Fifth Convertible Bonds Aug 12, 2011
Hyunjin Materials
Co., Ltd. announced that it has completed the issuance of its fifth registered
private convertible bonds, successfully raising KRW 1.8 billion as of August
12, 2011.
Hyunjin Materials
Co., Ltd. to Issue Fifth Convertible Bonds Aug 09, 2011
Hyunjin Materials
Co., Ltd. announced the offering of its fifth registered private convertible
bonds, raising KRW 1.8 billion. The details regarding the bond issuance are as
follows: maturity on February 12, 2015, yield to maturity 7.5%, annual coupon
of 1%, lump-sum redemption of principle on maturity date, 100% conversion rate
of bonds to common shares at KRW 15,870 per share, and subscription period for
conversion from August 12, 2012 to October 12, 2015. KRW 900 million of the
proceeds will be used for facilities and KRW 900 million will be used for its
operations.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
258.7 |
317.0 |
436.9 |
249.9 |
173.4 |
|
Revenue |
258.7 |
317.0 |
436.9 |
249.9 |
173.4 |
|
Other Revenue |
- |
- |
0.0 |
- |
3.7 |
|
Other Revenue, Total |
- |
- |
0.0 |
- |
3.7 |
|
Total Revenue |
258.7 |
317.0 |
436.9 |
249.9 |
177.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
280.3 |
270.2 |
340.6 |
203.5 |
141.7 |
|
Cost of Revenue, Total |
280.3 |
270.2 |
340.6 |
203.5 |
141.7 |
|
Gross Profit |
-21.6 |
46.8 |
96.3 |
46.4 |
31.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.6 |
6.4 |
6.4 |
4.5 |
4.0 |
|
Labor & Related Expense |
6.6 |
4.9 |
4.8 |
6.3 |
4.4 |
|
Advertising Expense |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Total Selling/General/Administrative Expenses |
15.3 |
11.4 |
11.2 |
10.8 |
8.5 |
|
Research & Development |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Depreciation |
0.9 |
0.5 |
0.9 |
0.2 |
0.2 |
|
Amortization of Intangibles |
- |
- |
- |
- |
0.1 |
|
Depreciation/Amortization |
0.9 |
0.5 |
0.9 |
0.2 |
0.3 |
|
Total Operating Expense |
297.7 |
283.1 |
353.8 |
215.0 |
150.7 |
|
|
|
|
|
|
|
|
Operating Income |
-39.0 |
33.9 |
83.1 |
34.9 |
26.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-7.9 |
-7.5 |
-6.6 |
-2.9 |
-2.4 |
|
Interest Expense, Net Non-Operating |
-7.9 |
-7.5 |
-6.6 |
-2.9 |
-2.4 |
|
Interest Income -
Non-Operating |
2.9 |
2.3 |
2.6 |
3.2 |
1.2 |
|
Investment Income -
Non-Operating |
-0.5 |
-4.7 |
-65.3 |
0.3 |
-0.3 |
|
Interest/Investment Income - Non-Operating |
2.4 |
-2.4 |
-62.7 |
3.5 |
0.9 |
|
Interest Income (Expense) - Net Non-Operating Total |
-5.5 |
-10.0 |
-69.2 |
0.6 |
-1.5 |
|
Gain (Loss) on Sale of Assets |
-0.2 |
2.5 |
0.5 |
-0.9 |
0.4 |
|
Other Non-Operating Income (Expense) |
-0.3 |
1.2 |
1.1 |
0.7 |
0.1 |
|
Other, Net |
-0.3 |
1.2 |
1.1 |
0.7 |
0.1 |
|
Income Before Tax |
-44.9 |
27.7 |
15.5 |
35.4 |
25.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
-11.9 |
6.6 |
2.8 |
7.6 |
6.6 |
|
Income After Tax |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
|
|
|
|
|
|
|
Minority Interest |
11.9 |
-2.0 |
-6.0 |
-2.1 |
-0.5 |
|
Net Income Before Extraord Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
14.5 |
14.5 |
14.6 |
14.6 |
11.5 |
|
Basic EPS Excl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Basic/Primary EPS Incl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Diluted Weighted Average Shares |
14.5 |
14.5 |
14.6 |
14.6 |
11.5 |
|
Diluted EPS Excl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Diluted EPS Incl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.20 |
0.00 |
0.21 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
2.8 |
0.0 |
3.1 |
0.7 |
|
Interest Expense, Supplemental |
7.9 |
7.5 |
6.6 |
2.9 |
2.4 |
|
Depreciation, Supplemental |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Total Special Items |
0.2 |
-2.6 |
-0.5 |
0.9 |
-0.3 |
|
Normalized Income Before Tax |
-44.8 |
25.2 |
15.0 |
36.3 |
25.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
-0.6 |
-0.1 |
0.2 |
-0.1 |
|
Inc Tax Ex Impact of Sp Items |
-11.9 |
6.0 |
2.7 |
7.8 |
6.5 |
|
Normalized Income After Tax |
-32.9 |
19.2 |
12.3 |
28.4 |
18.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-21.0 |
17.2 |
6.3 |
26.4 |
18.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Diluted Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Amort of Acquisition Costs, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Amort of Intangibles, Supplemental |
- |
- |
- |
- |
0.0 |
|
Rental Expenses |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Advertising Expense, Supplemental |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Research & Development Exp, Supplemental |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Normalized EBIT |
-39.0 |
33.9 |
83.1 |
34.9 |
26.4 |
|
Normalized EBITDA |
-23.8 |
51.1 |
100.7 |
45.0 |
31.4 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
16.1 |
27.6 |
47.4 |
3.2 |
5.2 |
|
Short Term Investments |
63.7 |
50.3 |
17.6 |
46.4 |
71.9 |
|
Cash and Short Term Investments |
79.8 |
77.9 |
65.1 |
49.6 |
77.1 |
|
Accounts Receivable -
Trade, Gross |
49.3 |
46.3 |
50.0 |
44.5 |
32.0 |
|
Provision for Doubtful
Accounts |
-1.3 |
-0.5 |
-0.7 |
-0.5 |
-0.5 |
|
Trade Accounts Receivable - Net |
49.2 |
46.9 |
50.1 |
44.9 |
32.5 |
|
Other Receivables |
2.1 |
3.0 |
1.8 |
1.2 |
1.7 |
|
Total Receivables, Net |
51.3 |
49.9 |
51.8 |
46.1 |
34.2 |
|
Inventories - Finished Goods |
18.2 |
20.4 |
13.9 |
7.0 |
2.6 |
|
Inventories - Work In Progress |
64.8 |
83.2 |
90.6 |
47.7 |
23.5 |
|
Inventories - Raw Materials |
37.2 |
39.7 |
61.7 |
43.6 |
18.6 |
|
Inventories - Other |
0.2 |
0.0 |
3.2 |
0.2 |
0.2 |
|
Total Inventory |
120.4 |
143.4 |
169.4 |
98.4 |
44.9 |
|
Prepaid Expenses |
5.0 |
2.5 |
6.3 |
4.9 |
1.3 |
|
Deferred Income Tax - Current Asset |
14.0 |
6.3 |
6.8 |
0.2 |
- |
|
Other Current Assets |
0.0 |
0.9 |
6.5 |
0.2 |
0.0 |
|
Other Current Assets, Total |
14.1 |
7.2 |
13.3 |
0.4 |
0.0 |
|
Total Current Assets |
270.6 |
280.9 |
305.9 |
199.5 |
157.6 |
|
|
|
|
|
|
|
|
Buildings |
47.2 |
40.2 |
35.8 |
41.9 |
15.6 |
|
Land/Improvements |
77.0 |
51.3 |
45.9 |
45.5 |
26.2 |
|
Machinery/Equipment |
79.6 |
93.0 |
86.8 |
75.6 |
43.3 |
|
Construction in
Progress |
54.7 |
39.0 |
15.5 |
15.0 |
7.0 |
|
Leases |
10.0 |
- |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
268.5 |
223.5 |
183.9 |
178.1 |
92.1 |
|
Accumulated Depreciation |
-52.4 |
-54.3 |
-39.1 |
-35.5 |
-24.8 |
|
Property/Plant/Equipment - Net |
216.1 |
169.1 |
144.7 |
142.5 |
67.3 |
|
Goodwill, Net |
-0.9 |
-0.9 |
-1.0 |
-1.3 |
0.1 |
|
LT Investment - Affiliate Companies |
4.3 |
6.6 |
7.8 |
3.9 |
1.1 |
|
LT Investments - Other |
19.0 |
14.8 |
7.8 |
8.8 |
3.3 |
|
Long Term Investments |
23.3 |
21.4 |
15.6 |
12.7 |
4.4 |
|
Pension Benefits - Overfunded |
0.4 |
- |
- |
- |
- |
|
Deferred Income Tax - Long Term Asset |
3.5 |
- |
0.0 |
0.1 |
0.1 |
|
Other Long Term Assets |
2.9 |
2.2 |
1.5 |
0.8 |
0.5 |
|
Other Long Term Assets, Total |
6.8 |
2.2 |
1.5 |
1.0 |
0.6 |
|
Total Assets |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
42.3 |
49.8 |
46.5 |
33.7 |
16.7 |
|
Accrued Expenses |
1.3 |
1.2 |
0.5 |
0.2 |
0.4 |
|
Notes Payable/Short Term Debt |
119.8 |
77.4 |
98.0 |
60.5 |
34.7 |
|
Current Portion - Long Term Debt/Capital Leases |
14.0 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Customer Advances |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Security Deposits |
0.3 |
- |
- |
- |
- |
|
Income Taxes Payable |
- |
0.4 |
10.8 |
5.2 |
4.4 |
|
Other Payables |
26.1 |
19.1 |
27.4 |
20.1 |
12.8 |
|
Deferred Income Tax - Current Liability |
- |
0.0 |
- |
0.0 |
0.1 |
|
Other Current Liabilities |
3.2 |
13.7 |
32.8 |
1.7 |
0.4 |
|
Other Current liabilities, Total |
30.0 |
33.4 |
71.7 |
27.3 |
18.2 |
|
Total Current Liabilities |
207.4 |
186.4 |
218.9 |
123.2 |
71.6 |
|
|
|
|
|
|
|
|
Long Term Debt |
87.8 |
39.4 |
46.8 |
19.4 |
7.4 |
|
Capital Lease Obligations |
8.2 |
- |
- |
- |
- |
|
Total Long Term Debt |
96.0 |
39.4 |
46.8 |
19.4 |
7.4 |
|
Total Debt |
229.8 |
141.3 |
147.0 |
81.4 |
43.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
7.3 |
7.9 |
1.3 |
2.9 |
2.1 |
|
Deferred Income Tax |
7.3 |
7.9 |
1.3 |
2.9 |
2.1 |
|
Minority Interest |
48.1 |
58.6 |
35.5 |
41.0 |
13.2 |
|
Pension Benefits - Underfunded |
0.2 |
0.6 |
0.5 |
1.2 |
0.2 |
|
Other Long Term Liabilities |
0.4 |
3.7 |
23.3 |
2.2 |
- |
|
Other Liabilities, Total |
0.6 |
4.3 |
23.8 |
3.3 |
0.2 |
|
Total Liabilities |
359.5 |
296.5 |
326.3 |
189.8 |
94.5 |
|
|
|
|
|
|
|
|
Common Stock |
6.4 |
6.2 |
5.7 |
7.6 |
7.7 |
|
Common Stock |
6.4 |
6.2 |
5.7 |
7.6 |
7.7 |
|
Additional Paid-In Capital |
70.6 |
68.7 |
61.9 |
82.8 |
80.2 |
|
Retained Earnings (Accumulated Deficit) |
79.0 |
101.3 |
73.0 |
73.5 |
47.7 |
|
Unrealized Gain (Loss) |
0.4 |
- |
- |
0.7 |
0.0 |
|
Total Equity |
156.4 |
176.2 |
140.5 |
164.5 |
135.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Total Common Shares Outstanding |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
305 |
279 |
295 |
247 |
176 |
|
Number of Common Shareholders |
21,854 |
24,453 |
10,137 |
10,611 |
2,876 |
|
Deferred Revenue - Current |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Deferred Revenue - Long Term |
0.4 |
- |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
93.8 |
59.6 |
45.1 |
20.8 |
8.9 |
|
Long Term Debt Maturing within 1 Year |
7.8 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Long Term Debt Maturing in Year 2 |
13.4 |
1.6 |
23.1 |
2.9 |
1.5 |
|
Long Term Debt Maturing in Year 3 |
26.0 |
8.2 |
4.4 |
4.3 |
1.1 |
|
Long Term Debt Maturing in Year 4 |
16.6 |
7.0 |
4.4 |
4.6 |
1.3 |
|
Long Term Debt Maturing in Year 5 |
- |
6.2 |
- |
3.5 |
1.2 |
|
Long Term Debt Maturing in 2-3 Years |
39.4 |
9.8 |
27.5 |
7.2 |
2.6 |
|
Long Term Debt Maturing in 4-5 Years |
16.6 |
13.2 |
4.4 |
8.1 |
2.5 |
|
Long Term Debt Matur. in Year 6 & Beyond |
30.0 |
12.1 |
11.0 |
4.1 |
2.3 |
|
Total Operating Leases, Supplemental |
- |
- |
- |
0.7 |
0.1 |
|
Operating Lease Payments Due in Year 1 |
- |
- |
- |
0.2 |
0.0 |
|
Operating Lease Payments Due in Year 2 |
- |
- |
- |
0.3 |
0.0 |
|
Operating Lease Payments Due in Year 3 |
- |
- |
- |
0.1 |
0.0 |
|
Operating Lease Payments Due in Year 4 |
- |
- |
- |
0.1 |
0.0 |
|
Operating Lease Payments Due in Year 5 |
- |
- |
- |
0.1 |
0.0 |
|
Operating Lease Pymts. Due in 2-3 Years |
- |
- |
- |
0.4 |
0.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
- |
- |
- |
0.2 |
0.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
- |
- |
- |
- |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
Depreciation |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Depreciation/Depletion |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Amortization of Intangibles |
- |
- |
- |
- |
0.1 |
|
Amortization of Acquisition Costs |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Deferred Taxes |
-11.9 |
5.4 |
-12.9 |
-0.8 |
0.4 |
|
Unusual Items |
-0.3 |
-3.9 |
-2.3 |
-0.1 |
-1.3 |
|
Equity in Net Earnings (Loss) |
2.5 |
1.7 |
0.2 |
-1.5 |
0.5 |
|
Other Non-Cash Items |
2.0 |
-0.8 |
61.6 |
4.3 |
1.2 |
|
Non-Cash Items |
4.2 |
-3.1 |
59.6 |
2.7 |
0.4 |
|
Accounts Receivable |
-0.2 |
22.5 |
-16.7 |
-13.8 |
-12.3 |
|
Inventories |
26.2 |
36.4 |
-110.2 |
-54.9 |
-8.7 |
|
Prepaid Expenses |
-2.2 |
4.1 |
-3.2 |
-3.7 |
-0.2 |
|
Other Assets |
0.9 |
6.4 |
0.2 |
0.0 |
0.6 |
|
Accounts Payable |
-4.0 |
-25.2 |
32.2 |
23.8 |
8.4 |
|
Accrued Expenses |
0.7 |
0.0 |
0.4 |
-0.1 |
0.0 |
|
Taxes Payable |
-1.2 |
-9.6 |
7.9 |
0.5 |
0.5 |
|
Other Liabilities |
-14.7 |
-39.1 |
-3.2 |
-1.0 |
-1.1 |
|
Changes in Working Capital |
5.5 |
-4.5 |
-92.6 |
-49.1 |
-12.8 |
|
Cash from Operating Activities |
-20.1 |
36.2 |
-15.6 |
-9.3 |
11.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-66.6 |
-39.2 |
-61.0 |
-75.8 |
-32.4 |
|
Capital Expenditures |
-66.6 |
-39.2 |
-61.0 |
-75.8 |
-32.4 |
|
Sale of Fixed Assets |
10.3 |
18.8 |
16.5 |
0.0 |
4.7 |
|
Sale/Maturity of Investment |
134.3 |
32.6 |
62.8 |
99.7 |
13.7 |
|
Purchase of Investments |
-149.3 |
-66.3 |
-45.0 |
-81.0 |
-72.4 |
|
Other Investing Cash Flow |
-0.7 |
-1.2 |
-1.9 |
-0.7 |
-0.1 |
|
Other Investing Cash Flow Items, Total |
-5.4 |
-16.1 |
32.5 |
18.0 |
-54.1 |
|
Cash from Investing Activities |
-72.0 |
-55.3 |
-28.5 |
-57.8 |
-86.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.3 |
1.8 |
-0.2 |
0.6 |
-1.9 |
|
Financing Cash Flow Items |
0.3 |
1.8 |
-0.2 |
0.6 |
-1.9 |
|
Cash Dividends Paid - Common |
-3.1 |
- |
-2.8 |
-0.8 |
- |
|
Total Cash Dividends Paid |
-3.1 |
- |
-2.8 |
-0.8 |
- |
|
Sale/Issuance of
Common |
1.2 |
11.7 |
- |
22.2 |
73.7 |
|
Repurchase/Retirement
of Common |
-1.0 |
- |
- |
- |
0.0 |
|
Common Stock, Net |
0.2 |
11.7 |
- |
22.2 |
73.7 |
|
Issuance (Retirement) of Stock, Net |
0.2 |
11.7 |
- |
22.2 |
73.7 |
|
Short Term Debt Issued |
217.3 |
164.6 |
287.0 |
120.0 |
51.4 |
|
Short Term Debt
Reduction |
-178.1 |
-190.1 |
-225.6 |
-88.6 |
-48.7 |
|
Short Term Debt, Net |
39.2 |
-25.5 |
61.4 |
31.4 |
2.7 |
|
Long Term Debt Issued |
73.9 |
13.6 |
39.9 |
13.6 |
0.2 |
|
Long Term Debt
Reduction |
-30.2 |
-4.3 |
-2.8 |
-1.5 |
-2.3 |
|
Long Term Debt, Net |
43.7 |
9.3 |
37.2 |
12.1 |
-2.1 |
|
Issuance (Retirement) of Debt, Net |
82.9 |
-16.2 |
98.6 |
43.5 |
0.6 |
|
Cash from Financing Activities |
80.2 |
-2.8 |
95.6 |
65.6 |
72.3 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-11.9 |
-21.9 |
51.5 |
-1.6 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
27.8 |
47.0 |
3.1 |
5.2 |
7.5 |
|
Net Cash - Ending Balance |
15.9 |
25.2 |
54.5 |
3.6 |
5.1 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Products |
212.2 |
272.9 |
391.2 |
202.1 |
134.8 |
|
Merchandise Revenues |
31.1 |
27.7 |
25.2 |
38.6 |
36.3 |
|
Manufactured Sales |
3.6 |
3.3 |
2.6 |
2.2 |
0.9 |
|
Rental Revenue |
- |
0.3 |
0.4 |
- |
- |
|
Sales of By-Products |
11.8 |
12.8 |
17.6 |
7.0 |
1.4 |
|
Other Revenues |
- |
- |
0.0 |
- |
3.7 |
|
Total Revenue |
258.7 |
317.0 |
436.9 |
249.9 |
177.1 |
|
|
|
|
|
|
|
|
Cost of Finish. Good |
252.6 |
245.8 |
319.9 |
166.7 |
105.5 |
|
Cost-Merchandise |
27.7 |
24.4 |
20.7 |
36.8 |
32.6 |
|
Cost of Other Sales |
- |
- |
- |
- |
3.7 |
|
Salaries |
4.5 |
3.3 |
3.1 |
4.6 |
3.1 |
|
Retirement Allowance |
0.6 |
0.6 |
0.6 |
0.5 |
0.5 |
|
Employee Benefits |
1.5 |
1.1 |
1.1 |
1.2 |
0.7 |
|
Services Expenses |
0.3 |
0.2 |
0.1 |
0.2 |
0.2 |
|
Advertising Expense |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Education & Training |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Travel Expenses |
0.7 |
0.6 |
0.5 |
0.5 |
0.4 |
|
Communication Exp. |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Utility Expenses |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Consumable Expense |
0.4 |
0.3 |
0.1 |
0.2 |
0.2 |
|
Taxes and Dues |
0.4 |
0.3 |
0.5 |
0.3 |
0.2 |
|
Printing Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Entertainment |
0.4 |
0.3 |
0.4 |
0.3 |
0.2 |
|
Depreciation Expense |
0.9 |
0.5 |
0.9 |
0.2 |
0.2 |
|
Miscellaneous Operating Expense |
0.0 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Amortization-Intangibles |
- |
- |
- |
- |
0.1 |
|
Repair Expenses |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Insurance Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Vehicles Expense |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Commissions Paid |
1.5 |
1.1 |
1.3 |
1.1 |
0.9 |
|
Amort. of Bad Debts |
1.0 |
0.0 |
0.3 |
0.1 |
0.2 |
|
Other Exporting Exp |
2.7 |
2.6 |
2.1 |
1.1 |
1.1 |
|
Shipping/Handling |
0.7 |
0.5 |
0.6 |
0.2 |
0.2 |
|
Rent |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Package Expense |
- |
- |
- |
0.0 |
0.0 |
|
Research & Development Expense |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Total Operating Expense |
297.7 |
283.1 |
353.8 |
215.0 |
150.7 |
|
|
|
|
|
|
|
|
Interest Income |
2.9 |
2.3 |
2.6 |
3.2 |
1.2 |
|
Dividend Income |
- |
0.0 |
0.0 |
- |
- |
|
G-For Curr Transactn |
4.1 |
8.2 |
14.9 |
1.1 |
0.4 |
|
G-For Exch Translatn |
0.4 |
0.8 |
1.0 |
0.4 |
0.3 |
|
Gain-Disposal of Derivative |
2.4 |
5.9 |
9.9 |
1.4 |
0.1 |
|
Gain-Disp. of Equity Method Securities |
- |
0.4 |
0.0 |
- |
0.2 |
|
G-Secs. for Sale Disposal |
- |
0.2 |
0.1 |
0.1 |
0.0 |
|
Gain-Valuation of Derivatives |
1.8 |
9.9 |
7.5 |
0.2 |
0.0 |
|
G-Tang Asst Disposal |
0.3 |
3.7 |
2.2 |
0.0 |
2.3 |
|
Reversal of Doubtful Account |
- |
0.2 |
0.2 |
0.1 |
- |
|
Recovery-Negative Goodwill Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Rental Income |
0.1 |
- |
- |
- |
- |
|
Other Non-Op. Income |
1.2 |
1.7 |
1.9 |
1.0 |
0.5 |
|
Interest Expense, Non-Operating |
-7.9 |
-7.5 |
-6.6 |
-2.9 |
-2.4 |
|
L-For Curr Transactn |
-2.7 |
-5.5 |
-3.9 |
-0.5 |
-0.4 |
|
Loss-Derivatives Transaction |
-3.1 |
-15.4 |
-26.7 |
-0.1 |
- |
|
L-For Exch Translatn |
-0.8 |
-1.3 |
-5.5 |
-0.1 |
-0.2 |
|
L-Secs. for Sale Disposal |
0.0 |
0.0 |
- |
- |
0.0 |
|
Loss on Valuation of Derivatives |
-0.2 |
-6.3 |
-62.4 |
-3.7 |
-0.3 |
|
Loss-Revaluation of Assets |
- |
- |
0.0 |
- |
- |
|
L-Trade Rcv Disposal |
-0.5 |
-0.8 |
-1.7 |
-0.9 |
-0.7 |
|
L-Tang.Asst Disposal |
0.0 |
-0.4 |
0.0 |
0.0 |
-1.2 |
|
Addl Income Tax Paid |
- |
- |
- |
- |
-0.2 |
|
Donations Paid, Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Provision for Other Doubtful Accounts |
-0.8 |
- |
0.0 |
- |
-0.1 |
|
Other Non-Op Expense |
-0.9 |
-0.7 |
-0.9 |
-0.4 |
-0.1 |
|
Gain under Equity Method |
- |
- |
0.6 |
1.5 |
0.3 |
|
L-Equity Method Valu |
-2.5 |
-1.7 |
-0.9 |
0.0 |
-0.8 |
|
Net Income Before Taxes |
-44.9 |
27.7 |
15.5 |
35.4 |
25.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-11.9 |
6.6 |
2.8 |
7.6 |
6.6 |
|
Net Income After Taxes |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
11.9 |
-2.0 |
-6.0 |
-2.1 |
-0.5 |
|
Net Income Before Extra. Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
14.5 |
14.5 |
14.6 |
14.5 |
11.5 |
|
Basic EPS Excluding ExtraOrdin |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Basic EPS Including ExtraOrdin |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Diluted Weighted Average Share |
14.5 |
14.5 |
14.6 |
14.5 |
11.5 |
|
Diluted EPS Excluding ExtraOrd |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Diluted EPS Including ExtraOrd |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
DPS-Common Stock |
0.00 |
0.20 |
0.00 |
0.21 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
2.8 |
0.0 |
3.1 |
0.7 |
|
Normalized Income Before Taxes |
-44.8 |
25.2 |
15.0 |
36.3 |
25.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
-11.9 |
6.0 |
2.7 |
7.8 |
6.5 |
|
Normalized Income After Taxes |
-32.9 |
19.2 |
12.3 |
28.4 |
18.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-21.0 |
17.2 |
6.3 |
26.4 |
18.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Diluted Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Interest Expense |
7.9 |
7.5 |
6.6 |
2.9 |
2.4 |
|
Rental Expense, Supplemental |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Advertising Expense |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
R&D Expense, Supplemental |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Depreciation |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Amort of Intangibles, Suppleme |
- |
- |
- |
- |
0.0 |
|
Amort of Acquisition, Supplemental |
- |
- |
- |
- |
0.1 |
|
Amort of Negative Goodwill |
0.0 |
0.0 |
0.0 |
0.0 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
16.1 |
27.6 |
47.4 |
3.2 |
5.2 |
|
ST Finl Assets |
46.9 |
46.0 |
17.6 |
43.1 |
68.7 |
|
Secs for Sale |
16.6 |
4.3 |
- |
3.3 |
3.2 |
|
Secs-Maturity |
- |
- |
0.0 |
0.0 |
0.0 |
|
Guarantee Deposit-Futures Trade |
0.1 |
- |
- |
- |
- |
|
ST Loans |
1.7 |
2.6 |
1.5 |
0.8 |
1.6 |
|
Trade Rcvbls,G |
49.3 |
46.3 |
50.0 |
44.5 |
32.0 |
|
Allw-Doubtful Ac |
-1.3 |
-0.5 |
-0.7 |
-0.5 |
-0.5 |
|
Other Rcvbls |
0.4 |
0.4 |
0.2 |
0.4 |
0.1 |
|
Advance Payments |
0.2 |
0.0 |
0.5 |
0.2 |
0.2 |
|
Prepaid Expenses |
0.3 |
0.4 |
0.4 |
0.2 |
0.1 |
|
Prepaid Inc Tax |
0.4 |
0.2 |
- |
0.2 |
0.0 |
|
Prepaid VAT |
4.3 |
1.9 |
5.9 |
4.6 |
1.2 |
|
Deferred Income Taxes-Debit, Current |
14.0 |
6.3 |
6.8 |
0.2 |
- |
|
Accrued Income |
1.2 |
1.2 |
0.7 |
1.0 |
1.0 |
|
Derivatives |
0.0 |
0.9 |
6.5 |
0.2 |
0.0 |
|
Merchandises |
4.4 |
1.9 |
1.2 |
1.7 |
2.1 |
|
Finished Goods |
13.7 |
18.5 |
12.7 |
5.2 |
0.5 |
|
Manufactured Goods |
0.1 |
- |
- |
- |
- |
|
Goods in Transit |
0.0 |
- |
2.6 |
0.0 |
0.0 |
|
Work in Progress |
64.8 |
83.2 |
90.6 |
47.7 |
23.5 |
|
Raw Materials |
37.2 |
39.7 |
61.7 |
43.6 |
18.6 |
|
Total Current Assets |
270.6 |
280.9 |
305.9 |
199.5 |
157.6 |
|
|
|
|
|
|
|
|
LT Finl Assets |
12.2 |
8.6 |
7.3 |
8.7 |
3.3 |
|
Secs for Sale |
6.3 |
5.7 |
0.1 |
0.0 |
0.0 |
|
Secs-Maturity |
0.5 |
0.5 |
0.4 |
- |
0.0 |
|
Investment-Affil |
4.3 |
6.6 |
7.8 |
3.9 |
1.1 |
|
LT Guarantee Dep |
2.8 |
2.0 |
1.5 |
0.8 |
0.5 |
|
Derivatives, assets |
- |
0.2 |
- |
- |
- |
|
Deferred Taxes |
3.5 |
- |
0.0 |
0.1 |
0.1 |
|
Land |
77.0 |
51.3 |
45.9 |
45.5 |
26.2 |
|
Buildings |
42.5 |
35.8 |
31.6 |
38.7 |
14.8 |
|
Deprec-Buildings |
-5.5 |
-3.9 |
-2.7 |
-2.7 |
-1.5 |
|
Structures |
4.6 |
4.4 |
4.2 |
3.2 |
0.8 |
|
Deprec-Structure |
-0.6 |
-0.4 |
-0.2 |
-0.3 |
-0.1 |
|
Tools/Equipments |
3.3 |
2.8 |
2.3 |
1.7 |
1.2 |
|
Depr-Tool/Equip |
-2.5 |
-2.0 |
-1.2 |
-1.1 |
-0.8 |
|
Machinery/Equip. |
91.7 |
87.3 |
82.1 |
72.1 |
40.7 |
|
Machinery & Equipment-Government Subsidy |
-18.7 |
- |
- |
- |
- |
|
Depr-Mach/Equip. |
-41.0 |
-46.1 |
-33.4 |
-30.1 |
-21.3 |
|
Transport Equip. |
0.4 |
0.3 |
0.2 |
0.5 |
0.5 |
|
Deprec-Transport |
-0.3 |
-0.2 |
-0.2 |
-0.4 |
-0.4 |
|
Fixtures |
2.9 |
2.6 |
2.2 |
1.3 |
0.8 |
|
Deprec-Fixtures |
-2.3 |
-1.8 |
-1.3 |
-0.9 |
-0.7 |
|
Fixtures-Government Subsidy |
0.0 |
- |
- |
- |
- |
|
Negative Goodwill |
-0.9 |
-0.9 |
-1.0 |
-1.3 |
- |
|
Construc in Prog |
54.7 |
39.0 |
15.5 |
15.0 |
7.0 |
|
Goodwill |
- |
- |
- |
- |
0.1 |
|
Plan Assets, LT Assets |
0.4 |
- |
- |
- |
- |
|
Capital Lease Assets |
10.0 |
- |
- |
- |
- |
|
Capital Lease Assets-Depreciation |
-0.3 |
- |
- |
- |
- |
|
Membership Right |
0.2 |
- |
- |
- |
- |
|
Total Assets |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
|
|
|
|
|
|
|
Trade Payable |
42.3 |
49.8 |
46.5 |
33.7 |
16.7 |
|
Accounts Payable |
26.1 |
19.1 |
27.4 |
20.1 |
12.8 |
|
Inc Tax Payable |
- |
0.4 |
10.8 |
5.2 |
4.4 |
|
Accrued Expenses |
1.3 |
0.5 |
0.5 |
0.2 |
0.3 |
|
VAT Withheld |
- |
0.7 |
- |
- |
0.1 |
|
Advances Receivd |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Unearned Income |
- |
- |
0.0 |
- |
- |
|
Deposit Withheld |
1.2 |
0.8 |
1.2 |
0.2 |
0.1 |
|
Security Deposit Withheld |
0.3 |
- |
- |
- |
- |
|
ST Borrowings |
119.8 |
77.4 |
98.0 |
60.5 |
34.7 |
|
Derivatives |
1.9 |
12.9 |
31.5 |
1.5 |
0.3 |
|
Current LT Liab. |
9.6 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Current Portion of LT Bonds |
4.4 |
- |
- |
- |
- |
|
Deferred Income Tax Credits |
- |
0.0 |
- |
0.0 |
0.1 |
|
Total Current Liability |
207.4 |
186.4 |
218.9 |
123.2 |
71.6 |
|
|
|
|
|
|
|
|
LT Borrowings |
86.0 |
35.1 |
42.9 |
19.4 |
7.4 |
|
Bonds |
- |
4.3 |
4.0 |
- |
- |
|
Convertible Bonds |
1.8 |
- |
- |
- |
- |
|
Capital Lease Liabilities |
8.2 |
- |
- |
- |
- |
|
Total Long Term Debt |
96.0 |
39.4 |
46.8 |
19.4 |
7.4 |
|
|
|
|
|
|
|
|
Derivative Products in Liabilities |
- |
3.7 |
23.3 |
2.2 |
- |
|
Deferred Income Tax, Credit |
7.3 |
7.9 |
1.3 |
2.9 |
2.1 |
|
Retirement Resrv |
3.5 |
3.3 |
0.5 |
1.2 |
0.2 |
|
Minority Interst |
48.1 |
58.6 |
35.5 |
41.0 |
13.2 |
|
Deposit-Retirement Insurance |
-0.9 |
-2.7 |
- |
- |
- |
|
Transfer to National Pension Fund |
0.0 |
0.0 |
- |
- |
- |
|
Plan Assets |
-2.5 |
- |
- |
- |
- |
|
Deferred Income from Sale of Tangible As |
0.4 |
- |
- |
- |
- |
|
Total Liabilities |
359.5 |
296.5 |
326.3 |
189.8 |
94.5 |
|
|
|
|
|
|
|
|
Common Stock |
6.4 |
6.2 |
5.7 |
7.6 |
7.7 |
|
Other Capital Surplus |
7.8 |
7.4 |
5.2 |
6.5 |
3.5 |
|
Paid-in Capital in Excess of Par |
62.4 |
60.8 |
56.3 |
75.7 |
76.2 |
|
Gain-Capital Reduction |
0.4 |
0.4 |
0.4 |
0.5 |
0.5 |
|
Voluntary Reserve |
1.7 |
1.7 |
1.6 |
2.1 |
2.3 |
|
Revaluation Retained Earnings |
17.6 |
17.5 |
14.8 |
- |
- |
|
Legal Reserve |
0.9 |
0.6 |
0.6 |
0.5 |
0.4 |
|
Reserve for Assets Revaluation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earning Carried Forward |
58.6 |
81.5 |
56.0 |
70.9 |
45.0 |
|
Capital Change under Equity Method |
- |
- |
- |
0.7 |
0.0 |
|
L-Sec for Sale V |
0.4 |
- |
- |
0.0 |
0.0 |
|
Total Equity |
156.4 |
176.2 |
140.5 |
164.5 |
135.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
14.6 |
14.6 |
14.5 |
14.5 |
14.5 |
|
Total Common Shares Outstandin |
14.6 |
14.6 |
14.5 |
14.5 |
14.5 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Deferred Revenue - Long Term |
0.4 |
- |
- |
- |
- |
|
Full-Time Employees |
305 |
279 |
295 |
247 |
176 |
|
Number of Common Shareholders |
21,854 |
24,453 |
10,137 |
10,611 |
2,876 |
|
Long Term Debt Maturing within 1 Year |
7.8 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Long Term Debt Maturing within 2 Years |
13.4 |
1.6 |
23.1 |
2.9 |
1.5 |
|
Long Term Debt Maturing within 3 Years |
26.0 |
8.2 |
4.4 |
4.3 |
1.1 |
|
Long Term Debt Maturing within 4 Years |
16.6 |
7.0 |
4.4 |
4.6 |
1.3 |
|
Long Term Debt Maturing within 5 Years |
- |
6.2 |
- |
3.5 |
1.2 |
|
Long Term Debt Remaining Maturities |
30.0 |
12.1 |
11.0 |
4.1 |
2.3 |
|
Total Long Term Debt, Supplemental |
93.8 |
59.6 |
45.1 |
20.8 |
8.9 |
|
Operating Lease Maturing within 1 Year |
- |
- |
- |
0.2 |
0.0 |
|
Operating Lease Maturing within 5 Year |
- |
- |
- |
0.2 |
0.0 |
|
Optg leases-year 2 |
- |
- |
- |
0.3 |
- |
|
Total Operating Leases |
- |
- |
- |
0.7 |
0.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
Depreciation |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Amortization of Intangible |
- |
- |
- |
- |
0.1 |
|
Recovery-Negative Goodwill Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Provision for Doubtful Accounts |
0.6 |
0.0 |
0.3 |
0.1 |
0.2 |
|
Provision for Other Doubtful Accounts |
0.8 |
- |
0.0 |
- |
0.1 |
|
Recovery-Provision Doubtful Account |
- |
-0.2 |
-0.2 |
-0.1 |
- |
|
Accrued Interest Expense |
0.0 |
- |
- |
- |
- |
|
Retirement Allowance |
1.6 |
1.5 |
1.9 |
1.1 |
0.9 |
|
Repair Expense |
- |
1.1 |
- |
- |
- |
|
Amrt-Disc Issu Cnvrt |
- |
- |
- |
- |
0.0 |
|
G-For Exch Translatn |
-0.1 |
-0.8 |
-0.4 |
-0.4 |
-0.3 |
|
L-For Exch Translatn |
0.8 |
1.1 |
5.0 |
0.1 |
0.0 |
|
L-Secs. for Sale Disposal |
0.0 |
0.0 |
- |
- |
0.0 |
|
L-Tangible Asst Disp |
0.0 |
0.4 |
0.0 |
0.0 |
1.2 |
|
Loss-Revaluation of Assets |
- |
- |
0.0 |
- |
- |
|
Loss-Valuation of Derivatives |
0.2 |
6.3 |
62.4 |
3.7 |
0.3 |
|
Gains Under Equity Method |
- |
- |
-0.6 |
-1.5 |
-0.3 |
|
L-Equity Method Valu |
2.5 |
1.7 |
0.9 |
0.0 |
0.8 |
|
G-Tangible Asst Disp |
-0.3 |
-3.7 |
-2.2 |
0.0 |
-2.3 |
|
Gain-Disp. of Equity Method Securities |
- |
-0.4 |
0.0 |
- |
-0.2 |
|
G-Secs. for Sale Disposal |
- |
-0.2 |
-0.1 |
-0.1 |
0.0 |
|
Gain-Derivatives Valuation |
-1.8 |
-9.9 |
-7.5 |
-0.2 |
0.0 |
|
Trade Receivables |
0.0 |
23.1 |
-17.0 |
-13.7 |
-11.7 |
|
Accrued Income |
0.0 |
-0.3 |
0.0 |
0.1 |
-0.7 |
|
Corporate Tax Refundable |
-0.1 |
-0.2 |
0.2 |
- |
- |
|
Account Receivables |
0.0 |
-0.1 |
0.1 |
-0.2 |
0.1 |
|
Prepaid Expenses |
0.1 |
0.1 |
-0.3 |
0.0 |
0.0 |
|
Prepaid Taxes |
- |
- |
- |
-0.2 |
0.0 |
|
Ppd Valu Added Taxes |
-2.3 |
4.1 |
-2.8 |
-3.4 |
-0.2 |
|
Derivatives in Assets |
0.9 |
6.4 |
0.2 |
0.0 |
- |
|
Guarantee Deposit |
- |
- |
- |
- |
0.6 |
|
Advance Payments |
-0.1 |
0.5 |
-0.3 |
0.2 |
0.7 |
|
Inventories |
26.3 |
35.8 |
-109.8 |
-55.0 |
-9.4 |
|
Deferred Taxes-Assets |
-10.8 |
0.9 |
-7.6 |
-0.2 |
0.0 |
|
Deferred Taxes-Liab. |
-1.1 |
4.6 |
-5.4 |
-0.6 |
0.4 |
|
Trade Payables |
-10.4 |
-16.7 |
17.9 |
16.4 |
1.1 |
|
Account Payable |
6.4 |
-8.6 |
14.3 |
7.4 |
7.2 |
|
Accrued Expenses |
0.7 |
0.0 |
0.4 |
-0.1 |
0.0 |
|
Accrued Inc Tax |
-0.4 |
-10.2 |
7.9 |
0.5 |
0.6 |
|
Valu Add Tax Withhld |
-0.8 |
0.7 |
- |
- |
-0.1 |
|
Unearned Income |
- |
0.0 |
0.0 |
- |
- |
|
Advances Received |
0.3 |
-0.6 |
0.6 |
-0.2 |
0.3 |
|
Deposits Withheld |
0.3 |
-0.4 |
1.2 |
-0.1 |
0.0 |
|
Derivatives in Liabilities |
-13.0 |
-36.4 |
-2.7 |
-0.3 |
- |
|
Increase-Reserve for Severance & Retirem |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Government Subsidies |
0.1 |
-0.2 |
-0.1 |
0.0 |
-0.1 |
|
Dividend Income, A/L |
- |
- |
- |
0.0 |
0.0 |
|
Nation Pension Fnd |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Retiremt Allow Paymt |
-1.5 |
-1.3 |
-1.3 |
-0.4 |
-0.7 |
|
Retirement Insurance |
1.9 |
-0.2 |
-1.1 |
-0.1 |
-0.7 |
|
Guarantee Deposit for Futures Trade |
-0.1 |
- |
- |
- |
- |
|
Retirement Pension Operating Fund |
-2.8 |
- |
- |
- |
- |
|
Cash From Operating Activities |
-20.1 |
36.2 |
-15.6 |
-9.3 |
11.8 |
|
|
|
|
|
|
|
|
Dec-ST Finl Asset |
93.9 |
18.8 |
53.0 |
95.2 |
11.4 |
|
Dec-LT Finl Asset |
2.0 |
11.2 |
0.6 |
0.1 |
0.2 |
|
Disp-Secs. for Sale |
38.4 |
0.3 |
4.2 |
4.4 |
2.1 |
|
Disposal-Securities under Equity Method |
- |
2.3 |
5.0 |
0.0 |
- |
|
Disposal-Securities Held to Maturities |
- |
0.0 |
- |
0.0 |
0.0 |
|
Dec-ST Loans |
2.6 |
3.8 |
3.1 |
0.3 |
0.7 |
|
Dec-Guarantee Dep |
1.0 |
0.0 |
0.3 |
0.0 |
0.1 |
|
Disposal-Land |
- |
6.6 |
5.8 |
- |
3.1 |
|
Disposal-Buildings |
0.1 |
2.2 |
10.3 |
- |
0.7 |
|
Disposal-Structures |
- |
0.1 |
0.3 |
- |
0.1 |
|
Disp-Machinery |
0.3 |
4.2 |
0.0 |
- |
0.8 |
|
Disp-Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Disposal of Tools |
0.0 |
0.0 |
- |
- |
0.0 |
|
Disposal-Supplies |
- |
0.0 |
0.0 |
- |
- |
|
Disposal-Construction in Progress |
9.9 |
5.6 |
- |
- |
- |
|
Inc-ST Loans |
-2.5 |
-4.7 |
-4.2 |
-0.5 |
-0.7 |
|
Inc-Guarantee Dep |
-1.8 |
-0.4 |
-1.1 |
-0.5 |
-0.2 |
|
Increase-Membership Right |
0.0 |
- |
- |
- |
- |
|
Inc-ST Finl Asset |
-87.8 |
-43.4 |
-33.8 |
-69.9 |
-66.3 |
|
Inc-LT Finl Asset |
-11.1 |
-11.9 |
-4.3 |
-5.2 |
-1.4 |
|
Increase-Securities Available for Sale |
-50.4 |
-4.3 |
-0.5 |
-4.3 |
-4.7 |
|
Increase-Securities Held to Maturities |
- |
-0.1 |
-0.4 |
- |
- |
|
Increase-Securities under Equity Method |
- |
-6.7 |
-5.9 |
-1.6 |
- |
|
Acq-Land |
-12.7 |
- |
-3.5 |
-13.1 |
-6.0 |
|
Acq-Building |
-0.9 |
-0.5 |
-1.8 |
0.0 |
-0.1 |
|
Increase-Structure |
-0.1 |
0.0 |
-0.2 |
- |
- |
|
Acq-Machinery |
-0.3 |
-1.3 |
-2.2 |
-0.5 |
-0.1 |
|
Acq-Fixtures |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
-0.1 |
|
Acq-Vehicles |
0.0 |
0.0 |
0.0 |
- |
-0.1 |
|
Acq-Tools/Equipmt |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.3 |
|
Acq-Constructn Prog |
-42.4 |
-37.1 |
-53.0 |
-61.9 |
-25.7 |
|
Increase-Assets on Capital Lease |
-9.8 |
- |
- |
- |
- |
|
Cash From Investing Activities |
-72.0 |
-55.3 |
-28.5 |
-57.8 |
-86.5 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
217.3 |
164.6 |
287.0 |
120.0 |
51.4 |
|
Inc-LT Borrowing |
62.3 |
13.6 |
35.4 |
13.6 |
0.2 |
|
Increase-LT Lease Liabilities |
9.8 |
- |
- |
- |
- |
|
Increase-Bond |
- |
- |
4.5 |
- |
- |
|
Increase-Convertible Bond |
1.8 |
- |
- |
- |
- |
|
Inc-Share Capital |
- |
11.6 |
- |
22.2 |
73.7 |
|
Disposal-Treasury Stock |
1.2 |
0.0 |
- |
- |
0.0 |
|
Increase-Accrued Payable |
- |
70.7 |
- |
- |
- |
|
Inc-Gonvernment Subsidies |
- |
0.0 |
- |
0.5 |
0.2 |
|
Increase-Security Deposit Received |
0.3 |
0.0 |
- |
- |
- |
|
Decrease-Lease Guarantee Deposit |
- |
- |
-0.2 |
- |
- |
|
Dec-Currrent Portion of Bonds |
- |
- |
- |
- |
-2.1 |
|
Dec-ST Borrowings |
-178.1 |
-190.1 |
-225.6 |
-88.6 |
-48.7 |
|
Dec-LT Borrowings |
-5.5 |
-2.2 |
- |
- |
-0.6 |
|
Dec-Curr LT Liabs |
-24.7 |
-2.1 |
-2.8 |
-1.5 |
-1.7 |
|
Acquisiton of Treasury Stocks |
-1.0 |
- |
- |
- |
0.0 |
|
Decrease-Accrued Payment |
- |
-71.9 |
- |
- |
- |
|
Decrease-Security Deposit |
- |
0.0 |
- |
- |
- |
|
Dividends Paid |
-3.1 |
- |
-2.8 |
-0.8 |
- |
|
Cash Outflow-Consol. Capital Transaction |
- |
- |
- |
0.0 |
- |
|
Cash Inflow-Consoli. Capital Transaction |
- |
3.0 |
- |
0.0 |
- |
|
Cash Inflow-Consolidation Scope Change |
- |
- |
- |
0.2 |
- |
|
Recovery-Capital Increase Contribution |
0.0 |
- |
- |
- |
- |
|
Cash From Financing Activities |
80.2 |
-2.8 |
95.6 |
65.6 |
72.3 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-11.9 |
-21.9 |
51.5 |
-1.6 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
27.8 |
47.0 |
3.1 |
5.2 |
7.5 |
|
Net Cash Ending Balance |
15.9 |
25.2 |
54.5 |
3.6 |
5.1 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
258.7 |
317.0 |
436.9 |
249.9 |
173.4 |
|
Revenue |
258.7 |
317.0 |
436.9 |
249.9 |
173.4 |
|
Other Revenue |
- |
- |
0.0 |
- |
3.7 |
|
Other Revenue, Total |
- |
- |
0.0 |
- |
3.7 |
|
Total Revenue |
258.7 |
317.0 |
436.9 |
249.9 |
177.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
280.3 |
270.2 |
340.6 |
203.5 |
141.7 |
|
Cost of Revenue, Total |
280.3 |
270.2 |
340.6 |
203.5 |
141.7 |
|
Gross Profit |
-21.6 |
46.8 |
96.3 |
46.4 |
31.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.6 |
6.4 |
6.4 |
4.5 |
4.0 |
|
Labor & Related Expense |
6.6 |
4.9 |
4.8 |
6.3 |
4.4 |
|
Advertising Expense |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Total Selling/General/Administrative Expenses |
15.3 |
11.4 |
11.2 |
10.8 |
8.5 |
|
Research & Development |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Depreciation |
0.9 |
0.5 |
0.9 |
0.2 |
0.2 |
|
Amortization of Intangibles |
- |
- |
- |
- |
0.1 |
|
Depreciation/Amortization |
0.9 |
0.5 |
0.9 |
0.2 |
0.3 |
|
Total Operating Expense |
297.7 |
283.1 |
353.8 |
215.0 |
150.7 |
|
|
|
|
|
|
|
|
Operating Income |
-39.0 |
33.9 |
83.1 |
34.9 |
26.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-7.9 |
-7.5 |
-6.6 |
-2.9 |
-2.4 |
|
Interest Expense, Net Non-Operating |
-7.9 |
-7.5 |
-6.6 |
-2.9 |
-2.4 |
|
Interest Income -
Non-Operating |
2.9 |
2.3 |
2.6 |
3.2 |
1.2 |
|
Investment Income -
Non-Operating |
-0.5 |
-4.7 |
-65.3 |
0.3 |
-0.3 |
|
Interest/Investment Income - Non-Operating |
2.4 |
-2.4 |
-62.7 |
3.5 |
0.9 |
|
Interest Income (Expense) - Net Non-Operating Total |
-5.5 |
-10.0 |
-69.2 |
0.6 |
-1.5 |
|
Gain (Loss) on Sale of Assets |
-0.2 |
2.5 |
0.5 |
-0.9 |
0.4 |
|
Other Non-Operating Income (Expense) |
-0.3 |
1.2 |
1.1 |
0.7 |
0.1 |
|
Other, Net |
-0.3 |
1.2 |
1.1 |
0.7 |
0.1 |
|
Income Before Tax |
-44.9 |
27.7 |
15.5 |
35.4 |
25.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
-11.9 |
6.6 |
2.8 |
7.6 |
6.6 |
|
Income After Tax |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
|
|
|
|
|
|
|
Minority Interest |
11.9 |
-2.0 |
-6.0 |
-2.1 |
-0.5 |
|
Net Income Before Extraord Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
14.5 |
14.5 |
14.6 |
14.6 |
11.5 |
|
Basic EPS Excl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Basic/Primary EPS Incl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Diluted Weighted Average Shares |
14.5 |
14.5 |
14.6 |
14.6 |
11.5 |
|
Diluted EPS Excl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Diluted EPS Incl Extraord Items |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.20 |
0.00 |
0.21 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
2.8 |
0.0 |
3.1 |
0.7 |
|
Interest Expense, Supplemental |
7.9 |
7.5 |
6.6 |
2.9 |
2.4 |
|
Depreciation, Supplemental |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Total Special Items |
0.2 |
-2.6 |
-0.5 |
0.9 |
-0.3 |
|
Normalized Income Before Tax |
-44.8 |
25.2 |
15.0 |
36.3 |
25.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
-0.6 |
-0.1 |
0.2 |
-0.1 |
|
Inc Tax Ex Impact of Sp Items |
-11.9 |
6.0 |
2.7 |
7.8 |
6.5 |
|
Normalized Income After Tax |
-32.9 |
19.2 |
12.3 |
28.4 |
18.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-21.0 |
17.2 |
6.3 |
26.4 |
18.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Diluted Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Amort of Acquisition Costs, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Amort of Intangibles, Supplemental |
- |
- |
- |
- |
0.0 |
|
Rental Expenses |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Advertising Expense, Supplemental |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Research & Development Exp, Supplemental |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Normalized EBIT |
-39.0 |
33.9 |
83.1 |
34.9 |
26.4 |
|
Normalized EBITDA |
-23.8 |
51.1 |
100.7 |
45.0 |
31.4 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
16.1 |
27.6 |
47.4 |
3.2 |
5.2 |
|
Short Term Investments |
63.7 |
50.3 |
17.6 |
46.4 |
71.9 |
|
Cash and Short Term Investments |
79.8 |
77.9 |
65.1 |
49.6 |
77.1 |
|
Accounts Receivable -
Trade, Gross |
49.3 |
46.3 |
50.0 |
44.5 |
32.0 |
|
Provision for Doubtful
Accounts |
-1.3 |
-0.5 |
-0.7 |
-0.5 |
-0.5 |
|
Trade Accounts Receivable - Net |
49.2 |
46.9 |
50.1 |
44.9 |
32.5 |
|
Other Receivables |
2.1 |
3.0 |
1.8 |
1.2 |
1.7 |
|
Total Receivables, Net |
51.3 |
49.9 |
51.8 |
46.1 |
34.2 |
|
Inventories - Finished Goods |
18.2 |
20.4 |
13.9 |
7.0 |
2.6 |
|
Inventories - Work In Progress |
64.8 |
83.2 |
90.6 |
47.7 |
23.5 |
|
Inventories - Raw Materials |
37.2 |
39.7 |
61.7 |
43.6 |
18.6 |
|
Inventories - Other |
0.2 |
0.0 |
3.2 |
0.2 |
0.2 |
|
Total Inventory |
120.4 |
143.4 |
169.4 |
98.4 |
44.9 |
|
Prepaid Expenses |
5.0 |
2.5 |
6.3 |
4.9 |
1.3 |
|
Deferred Income Tax - Current Asset |
14.0 |
6.3 |
6.8 |
0.2 |
- |
|
Other Current Assets |
0.0 |
0.9 |
6.5 |
0.2 |
0.0 |
|
Other Current Assets, Total |
14.1 |
7.2 |
13.3 |
0.4 |
0.0 |
|
Total Current Assets |
270.6 |
280.9 |
305.9 |
199.5 |
157.6 |
|
|
|
|
|
|
|
|
Buildings |
47.2 |
40.2 |
35.8 |
41.9 |
15.6 |
|
Land/Improvements |
77.0 |
51.3 |
45.9 |
45.5 |
26.2 |
|
Machinery/Equipment |
79.6 |
93.0 |
86.8 |
75.6 |
43.3 |
|
Construction in
Progress |
54.7 |
39.0 |
15.5 |
15.0 |
7.0 |
|
Leases |
10.0 |
- |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
268.5 |
223.5 |
183.9 |
178.1 |
92.1 |
|
Accumulated Depreciation |
-52.4 |
-54.3 |
-39.1 |
-35.5 |
-24.8 |
|
Property/Plant/Equipment - Net |
216.1 |
169.1 |
144.7 |
142.5 |
67.3 |
|
Goodwill, Net |
-0.9 |
-0.9 |
-1.0 |
-1.3 |
0.1 |
|
LT Investment - Affiliate Companies |
4.3 |
6.6 |
7.8 |
3.9 |
1.1 |
|
LT Investments - Other |
19.0 |
14.8 |
7.8 |
8.8 |
3.3 |
|
Long Term Investments |
23.3 |
21.4 |
15.6 |
12.7 |
4.4 |
|
Pension Benefits - Overfunded |
0.4 |
- |
- |
- |
- |
|
Deferred Income Tax - Long Term Asset |
3.5 |
- |
0.0 |
0.1 |
0.1 |
|
Other Long Term Assets |
2.9 |
2.2 |
1.5 |
0.8 |
0.5 |
|
Other Long Term Assets, Total |
6.8 |
2.2 |
1.5 |
1.0 |
0.6 |
|
Total Assets |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
42.3 |
49.8 |
46.5 |
33.7 |
16.7 |
|
Accrued Expenses |
1.3 |
1.2 |
0.5 |
0.2 |
0.4 |
|
Notes Payable/Short Term Debt |
119.8 |
77.4 |
98.0 |
60.5 |
34.7 |
|
Current Portion - Long Term Debt/Capital Leases |
14.0 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Customer Advances |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Security Deposits |
0.3 |
- |
- |
- |
- |
|
Income Taxes Payable |
- |
0.4 |
10.8 |
5.2 |
4.4 |
|
Other Payables |
26.1 |
19.1 |
27.4 |
20.1 |
12.8 |
|
Deferred Income Tax - Current Liability |
- |
0.0 |
- |
0.0 |
0.1 |
|
Other Current Liabilities |
3.2 |
13.7 |
32.8 |
1.7 |
0.4 |
|
Other Current liabilities, Total |
30.0 |
33.4 |
71.7 |
27.3 |
18.2 |
|
Total Current Liabilities |
207.4 |
186.4 |
218.9 |
123.2 |
71.6 |
|
Long Term Debt |
87.8 |
39.4 |
46.8 |
19.4 |
7.4 |
|
Capital Lease Obligations |
8.2 |
- |
- |
- |
- |
|
Total Long Term Debt |
96.0 |
39.4 |
46.8 |
19.4 |
7.4 |
|
Total Debt |
229.8 |
141.3 |
147.0 |
81.4 |
43.6 |
|
Deferred Income Tax - LT Liability |
7.3 |
7.9 |
1.3 |
2.9 |
2.1 |
|
Deferred Income Tax |
7.3 |
7.9 |
1.3 |
2.9 |
2.1 |
|
Minority Interest |
48.1 |
58.6 |
35.5 |
41.0 |
13.2 |
|
Pension Benefits - Underfunded |
0.2 |
0.6 |
0.5 |
1.2 |
0.2 |
|
Other Long Term Liabilities |
0.4 |
3.7 |
23.3 |
2.2 |
- |
|
Other Liabilities, Total |
0.6 |
4.3 |
23.8 |
3.3 |
0.2 |
|
Total Liabilities |
359.5 |
296.5 |
326.3 |
189.8 |
94.5 |
|
|
|
|
|
|
|
|
Common Stock |
6.4 |
6.2 |
5.7 |
7.6 |
7.7 |
|
Common Stock |
6.4 |
6.2 |
5.7 |
7.6 |
7.7 |
|
Additional Paid-In Capital |
70.6 |
68.7 |
61.9 |
82.8 |
80.2 |
|
Retained Earnings (Accumulated Deficit) |
79.0 |
101.3 |
73.0 |
73.5 |
47.7 |
|
Unrealized Gain (Loss) |
0.4 |
- |
- |
0.7 |
0.0 |
|
Total Equity |
156.4 |
176.2 |
140.5 |
164.5 |
135.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
Shares Outstanding - Common Stock Primary
Issue |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Total Common Shares Outstanding |
14.6 |
14.6 |
14.6 |
14.6 |
14.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
305 |
279 |
295 |
247 |
176 |
|
Number of Common Shareholders |
21,854 |
24,453 |
10,137 |
10,611 |
2,876 |
|
Deferred Revenue - Current |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Deferred Revenue - Long Term |
0.4 |
- |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
93.8 |
59.6 |
45.1 |
20.8 |
8.9 |
|
Long Term Debt Maturing within 1 Year |
7.8 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Long Term Debt Maturing in Year 2 |
13.4 |
1.6 |
23.1 |
2.9 |
1.5 |
|
Long Term Debt Maturing in Year 3 |
26.0 |
8.2 |
4.4 |
4.3 |
1.1 |
|
Long Term Debt Maturing in Year 4 |
16.6 |
7.0 |
4.4 |
4.6 |
1.3 |
|
Long Term Debt Maturing in Year 5 |
- |
6.2 |
- |
3.5 |
1.2 |
|
Long Term Debt Maturing in 2-3 Years |
39.4 |
9.8 |
27.5 |
7.2 |
2.6 |
|
Long Term Debt Maturing in 4-5 Years |
16.6 |
13.2 |
4.4 |
8.1 |
2.5 |
|
Long Term Debt Matur. in Year 6 & Beyond |
30.0 |
12.1 |
11.0 |
4.1 |
2.3 |
|
Total Operating Leases, Supplemental |
- |
- |
- |
0.7 |
0.1 |
|
Operating Lease Payments Due in Year 1 |
- |
- |
- |
0.2 |
0.0 |
|
Operating Lease Payments Due in Year 2 |
- |
- |
- |
0.3 |
0.0 |
|
Operating Lease Payments Due in Year 3 |
- |
- |
- |
0.1 |
0.0 |
|
Operating Lease Payments Due in Year 4 |
- |
- |
- |
0.1 |
0.0 |
|
Operating Lease Payments Due in Year 5 |
- |
- |
- |
0.1 |
0.0 |
|
Operating Lease Pymts. Due in 2-3 Years |
- |
- |
- |
0.4 |
0.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
- |
- |
- |
0.2 |
0.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
- |
- |
- |
- |
0.0 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
Depreciation |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Depreciation/Depletion |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Amortization of Intangibles |
- |
- |
- |
- |
0.1 |
|
Amortization of Acquisition Costs |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Deferred Taxes |
-11.9 |
5.4 |
-12.9 |
-0.8 |
0.4 |
|
Unusual Items |
-0.3 |
-3.9 |
-2.3 |
-0.1 |
-1.3 |
|
Equity in Net Earnings (Loss) |
2.5 |
1.7 |
0.2 |
-1.5 |
0.5 |
|
Other Non-Cash Items |
2.0 |
-0.8 |
61.6 |
4.3 |
1.2 |
|
Non-Cash Items |
4.2 |
-3.1 |
59.6 |
2.7 |
0.4 |
|
Accounts Receivable |
-0.2 |
22.5 |
-16.7 |
-13.8 |
-12.3 |
|
Inventories |
26.2 |
36.4 |
-110.2 |
-54.9 |
-8.7 |
|
Prepaid Expenses |
-2.2 |
4.1 |
-3.2 |
-3.7 |
-0.2 |
|
Other Assets |
0.9 |
6.4 |
0.2 |
0.0 |
0.6 |
|
Accounts Payable |
-4.0 |
-25.2 |
32.2 |
23.8 |
8.4 |
|
Accrued Expenses |
0.7 |
0.0 |
0.4 |
-0.1 |
0.0 |
|
Taxes Payable |
-1.2 |
-9.6 |
7.9 |
0.5 |
0.5 |
|
Other Liabilities |
-14.7 |
-39.1 |
-3.2 |
-1.0 |
-1.1 |
|
Changes in Working Capital |
5.5 |
-4.5 |
-92.6 |
-49.1 |
-12.8 |
|
Cash from Operating Activities |
-20.1 |
36.2 |
-15.6 |
-9.3 |
11.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-66.6 |
-39.2 |
-61.0 |
-75.8 |
-32.4 |
|
Capital Expenditures |
-66.6 |
-39.2 |
-61.0 |
-75.8 |
-32.4 |
|
Sale of Fixed Assets |
10.3 |
18.8 |
16.5 |
0.0 |
4.7 |
|
Sale/Maturity of Investment |
134.3 |
32.6 |
62.8 |
99.7 |
13.7 |
|
Purchase of Investments |
-149.3 |
-66.3 |
-45.0 |
-81.0 |
-72.4 |
|
Other Investing Cash Flow |
-0.7 |
-1.2 |
-1.9 |
-0.7 |
-0.1 |
|
Other Investing Cash Flow Items, Total |
-5.4 |
-16.1 |
32.5 |
18.0 |
-54.1 |
|
Cash from Investing Activities |
-72.0 |
-55.3 |
-28.5 |
-57.8 |
-86.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.3 |
1.8 |
-0.2 |
0.6 |
-1.9 |
|
Financing Cash Flow Items |
0.3 |
1.8 |
-0.2 |
0.6 |
-1.9 |
|
Cash Dividends Paid - Common |
-3.1 |
- |
-2.8 |
-0.8 |
- |
|
Total Cash Dividends Paid |
-3.1 |
- |
-2.8 |
-0.8 |
- |
|
Sale/Issuance of
Common |
1.2 |
11.7 |
- |
22.2 |
73.7 |
|
Repurchase/Retirement
of Common |
-1.0 |
- |
- |
- |
0.0 |
|
Common Stock, Net |
0.2 |
11.7 |
- |
22.2 |
73.7 |
|
Issuance (Retirement) of Stock, Net |
0.2 |
11.7 |
- |
22.2 |
73.7 |
|
Short Term Debt Issued |
217.3 |
164.6 |
287.0 |
120.0 |
51.4 |
|
Short Term Debt
Reduction |
-178.1 |
-190.1 |
-225.6 |
-88.6 |
-48.7 |
|
Short Term Debt, Net |
39.2 |
-25.5 |
61.4 |
31.4 |
2.7 |
|
Long Term Debt Issued |
73.9 |
13.6 |
39.9 |
13.6 |
0.2 |
|
Long Term Debt
Reduction |
-30.2 |
-4.3 |
-2.8 |
-1.5 |
-2.3 |
|
Long Term Debt, Net |
43.7 |
9.3 |
37.2 |
12.1 |
-2.1 |
|
Issuance (Retirement) of Debt, Net |
82.9 |
-16.2 |
98.6 |
43.5 |
0.6 |
|
Cash from Financing Activities |
80.2 |
-2.8 |
95.6 |
65.6 |
72.3 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-11.9 |
-21.9 |
51.5 |
-1.6 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
27.8 |
47.0 |
3.1 |
5.2 |
7.5 |
|
Net Cash - Ending Balance |
15.9 |
25.2 |
54.5 |
3.6 |
5.1 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Products |
212.2 |
272.9 |
391.2 |
202.1 |
134.8 |
|
Merchandise Revenues |
31.1 |
27.7 |
25.2 |
38.6 |
36.3 |
|
Manufactured Sales |
3.6 |
3.3 |
2.6 |
2.2 |
0.9 |
|
Rental Revenue |
- |
0.3 |
0.4 |
- |
- |
|
Sales of By-Products |
11.8 |
12.8 |
17.6 |
7.0 |
1.4 |
|
Other Revenues |
- |
- |
0.0 |
- |
3.7 |
|
Total Revenue |
258.7 |
317.0 |
436.9 |
249.9 |
177.1 |
|
|
|
|
|
|
|
|
Cost of Finish. Good |
252.6 |
245.8 |
319.9 |
166.7 |
105.5 |
|
Cost-Merchandise |
27.7 |
24.4 |
20.7 |
36.8 |
32.6 |
|
Cost of Other Sales |
- |
- |
- |
- |
3.7 |
|
Salaries |
4.5 |
3.3 |
3.1 |
4.6 |
3.1 |
|
Retirement Allowance |
0.6 |
0.6 |
0.6 |
0.5 |
0.5 |
|
Employee Benefits |
1.5 |
1.1 |
1.1 |
1.2 |
0.7 |
|
Services Expenses |
0.3 |
0.2 |
0.1 |
0.2 |
0.2 |
|
Advertising Expense |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Education & Training |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Travel Expenses |
0.7 |
0.6 |
0.5 |
0.5 |
0.4 |
|
Communication Exp. |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Utility Expenses |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Consumable Expense |
0.4 |
0.3 |
0.1 |
0.2 |
0.2 |
|
Taxes and Dues |
0.4 |
0.3 |
0.5 |
0.3 |
0.2 |
|
Printing Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Entertainment |
0.4 |
0.3 |
0.4 |
0.3 |
0.2 |
|
Depreciation Expense |
0.9 |
0.5 |
0.9 |
0.2 |
0.2 |
|
Miscellaneous Operating Expense |
0.0 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Amortization-Intangibles |
- |
- |
- |
- |
0.1 |
|
Repair Expenses |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Insurance Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Vehicles Expense |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Commissions Paid |
1.5 |
1.1 |
1.3 |
1.1 |
0.9 |
|
Amort. of Bad Debts |
1.0 |
0.0 |
0.3 |
0.1 |
0.2 |
|
Other Exporting Exp |
2.7 |
2.6 |
2.1 |
1.1 |
1.1 |
|
Shipping/Handling |
0.7 |
0.5 |
0.6 |
0.2 |
0.2 |
|
Rent |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Package Expense |
- |
- |
- |
0.0 |
0.0 |
|
Research & Development Expense |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Total Operating Expense |
297.7 |
283.1 |
353.8 |
215.0 |
150.7 |
|
|
|
|
|
|
|
|
Interest Income |
2.9 |
2.3 |
2.6 |
3.2 |
1.2 |
|
Dividend Income |
- |
0.0 |
0.0 |
- |
- |
|
G-For Curr Transactn |
4.1 |
8.2 |
14.9 |
1.1 |
0.4 |
|
G-For Exch Translatn |
0.4 |
0.8 |
1.0 |
0.4 |
0.3 |
|
Gain-Disposal of Derivative |
2.4 |
5.9 |
9.9 |
1.4 |
0.1 |
|
Gain-Disp. of Equity Method Securities |
- |
0.4 |
0.0 |
- |
0.2 |
|
G-Secs. for Sale Disposal |
- |
0.2 |
0.1 |
0.1 |
0.0 |
|
Gain-Valuation of Derivatives |
1.8 |
9.9 |
7.5 |
0.2 |
0.0 |
|
G-Tang Asst Disposal |
0.3 |
3.7 |
2.2 |
0.0 |
2.3 |
|
Reversal of Doubtful Account |
- |
0.2 |
0.2 |
0.1 |
- |
|
Recovery-Negative Goodwill Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Rental Income |
0.1 |
- |
- |
- |
- |
|
Other Non-Op. Income |
1.2 |
1.7 |
1.9 |
1.0 |
0.5 |
|
Interest Expense, Non-Operating |
-7.9 |
-7.5 |
-6.6 |
-2.9 |
-2.4 |
|
L-For Curr Transactn |
-2.7 |
-5.5 |
-3.9 |
-0.5 |
-0.4 |
|
Loss-Derivatives Transaction |
-3.1 |
-15.4 |
-26.7 |
-0.1 |
- |
|
L-For Exch Translatn |
-0.8 |
-1.3 |
-5.5 |
-0.1 |
-0.2 |
|
L-Secs. for Sale Disposal |
0.0 |
0.0 |
- |
- |
0.0 |
|
Loss on Valuation of Derivatives |
-0.2 |
-6.3 |
-62.4 |
-3.7 |
-0.3 |
|
Loss-Revaluation of Assets |
- |
- |
0.0 |
- |
- |
|
L-Trade Rcv Disposal |
-0.5 |
-0.8 |
-1.7 |
-0.9 |
-0.7 |
|
L-Tang.Asst Disposal |
0.0 |
-0.4 |
0.0 |
0.0 |
-1.2 |
|
Addl Income Tax Paid |
- |
- |
- |
- |
-0.2 |
|
Donations Paid, Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Provision for Other Doubtful Accounts |
-0.8 |
- |
0.0 |
- |
-0.1 |
|
Other Non-Op Expense |
-0.9 |
-0.7 |
-0.9 |
-0.4 |
-0.1 |
|
Gain under Equity Method |
- |
- |
0.6 |
1.5 |
0.3 |
|
L-Equity Method Valu |
-2.5 |
-1.7 |
-0.9 |
0.0 |
-0.8 |
|
Net Income Before Taxes |
-44.9 |
27.7 |
15.5 |
35.4 |
25.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-11.9 |
6.6 |
2.8 |
7.6 |
6.6 |
|
Net Income After Taxes |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
11.9 |
-2.0 |
-6.0 |
-2.1 |
-0.5 |
|
Net Income Before Extra. Items |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
14.5 |
14.5 |
14.6 |
14.5 |
11.5 |
|
Basic EPS Excluding ExtraOrdin |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Basic EPS Including ExtraOrdin |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-21.1 |
19.1 |
6.7 |
25.7 |
18.3 |
|
Diluted Weighted Average Share |
14.5 |
14.5 |
14.6 |
14.5 |
11.5 |
|
Diluted EPS Excluding ExtraOrd |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
Diluted EPS Including ExtraOrd |
-1.45 |
1.31 |
0.46 |
1.77 |
1.59 |
|
DPS-Common Stock |
0.00 |
0.20 |
0.00 |
0.21 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
2.8 |
0.0 |
3.1 |
0.7 |
|
Normalized Income Before Taxes |
-44.8 |
25.2 |
15.0 |
36.3 |
25.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
-11.9 |
6.0 |
2.7 |
7.8 |
6.5 |
|
Normalized Income After Taxes |
-32.9 |
19.2 |
12.3 |
28.4 |
18.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-21.0 |
17.2 |
6.3 |
26.4 |
18.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Diluted Normalized EPS |
-1.45 |
1.18 |
0.43 |
1.81 |
1.57 |
|
Interest Expense |
7.9 |
7.5 |
6.6 |
2.9 |
2.4 |
|
Rental Expense, Supplemental |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Advertising Expense |
0.1 |
0.2 |
0.0 |
0.1 |
0.1 |
|
R&D Expense, Supplemental |
1.2 |
0.9 |
1.0 |
0.5 |
0.2 |
|
Depreciation |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Amort of Intangibles, Suppleme |
- |
- |
- |
- |
0.0 |
|
Amort of Acquisition, Supplemental |
- |
- |
- |
- |
0.1 |
|
Amort of Negative Goodwill |
0.0 |
0.0 |
0.0 |
0.0 |
- |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
16.1 |
27.6 |
47.4 |
3.2 |
5.2 |
|
ST Finl Assets |
46.9 |
46.0 |
17.6 |
43.1 |
68.7 |
|
Secs for Sale |
16.6 |
4.3 |
- |
3.3 |
3.2 |
|
Secs-Maturity |
- |
- |
0.0 |
0.0 |
0.0 |
|
Guarantee Deposit-Futures Trade |
0.1 |
- |
- |
- |
- |
|
ST Loans |
1.7 |
2.6 |
1.5 |
0.8 |
1.6 |
|
Trade Rcvbls,G |
49.3 |
46.3 |
50.0 |
44.5 |
32.0 |
|
Allw-Doubtful Ac |
-1.3 |
-0.5 |
-0.7 |
-0.5 |
-0.5 |
|
Other Rcvbls |
0.4 |
0.4 |
0.2 |
0.4 |
0.1 |
|
Advance Payments |
0.2 |
0.0 |
0.5 |
0.2 |
0.2 |
|
Prepaid Expenses |
0.3 |
0.4 |
0.4 |
0.2 |
0.1 |
|
Prepaid Inc Tax |
0.4 |
0.2 |
- |
0.2 |
0.0 |
|
Prepaid VAT |
4.3 |
1.9 |
5.9 |
4.6 |
1.2 |
|
Deferred Income Taxes-Debit, Current |
14.0 |
6.3 |
6.8 |
0.2 |
- |
|
Accrued Income |
1.2 |
1.2 |
0.7 |
1.0 |
1.0 |
|
Derivatives |
0.0 |
0.9 |
6.5 |
0.2 |
0.0 |
|
Merchandises |
4.4 |
1.9 |
1.2 |
1.7 |
2.1 |
|
Finished Goods |
13.7 |
18.5 |
12.7 |
5.2 |
0.5 |
|
Manufactured Goods |
0.1 |
- |
- |
- |
- |
|
Goods in Transit |
0.0 |
- |
2.6 |
0.0 |
0.0 |
|
Work in Progress |
64.8 |
83.2 |
90.6 |
47.7 |
23.5 |
|
Raw Materials |
37.2 |
39.7 |
61.7 |
43.6 |
18.6 |
|
Total Current Assets |
270.6 |
280.9 |
305.9 |
199.5 |
157.6 |
|
|
|
|
|
|
|
|
LT Finl Assets |
12.2 |
8.6 |
7.3 |
8.7 |
3.3 |
|
Secs for Sale |
6.3 |
5.7 |
0.1 |
0.0 |
0.0 |
|
Secs-Maturity |
0.5 |
0.5 |
0.4 |
- |
0.0 |
|
Investment-Affil |
4.3 |
6.6 |
7.8 |
3.9 |
1.1 |
|
LT Guarantee Dep |
2.8 |
2.0 |
1.5 |
0.8 |
0.5 |
|
Derivatives, assets |
- |
0.2 |
- |
- |
- |
|
Deferred Taxes |
3.5 |
- |
0.0 |
0.1 |
0.1 |
|
Land |
77.0 |
51.3 |
45.9 |
45.5 |
26.2 |
|
Buildings |
42.5 |
35.8 |
31.6 |
38.7 |
14.8 |
|
Deprec-Buildings |
-5.5 |
-3.9 |
-2.7 |
-2.7 |
-1.5 |
|
Structures |
4.6 |
4.4 |
4.2 |
3.2 |
0.8 |
|
Deprec-Structure |
-0.6 |
-0.4 |
-0.2 |
-0.3 |
-0.1 |
|
Tools/Equipments |
3.3 |
2.8 |
2.3 |
1.7 |
1.2 |
|
Depr-Tool/Equip |
-2.5 |
-2.0 |
-1.2 |
-1.1 |
-0.8 |
|
Machinery/Equip. |
91.7 |
87.3 |
82.1 |
72.1 |
40.7 |
|
Machinery & Equipment-Government Subsidy |
-18.7 |
- |
- |
- |
- |
|
Depr-Mach/Equip. |
-41.0 |
-46.1 |
-33.4 |
-30.1 |
-21.3 |
|
Transport Equip. |
0.4 |
0.3 |
0.2 |
0.5 |
0.5 |
|
Deprec-Transport |
-0.3 |
-0.2 |
-0.2 |
-0.4 |
-0.4 |
|
Fixtures |
2.9 |
2.6 |
2.2 |
1.3 |
0.8 |
|
Deprec-Fixtures |
-2.3 |
-1.8 |
-1.3 |
-0.9 |
-0.7 |
|
Fixtures-Government Subsidy |
0.0 |
- |
- |
- |
- |
|
Negative Goodwill |
-0.9 |
-0.9 |
-1.0 |
-1.3 |
- |
|
Construc in Prog |
54.7 |
39.0 |
15.5 |
15.0 |
7.0 |
|
Goodwill |
- |
- |
- |
- |
0.1 |
|
Plan Assets, LT Assets |
0.4 |
- |
- |
- |
- |
|
Capital Lease Assets |
10.0 |
- |
- |
- |
- |
|
Capital Lease Assets-Depreciation |
-0.3 |
- |
- |
- |
- |
|
Membership Right |
0.2 |
- |
- |
- |
- |
|
Total Assets |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
|
|
|
|
|
|
|
Trade Payable |
42.3 |
49.8 |
46.5 |
33.7 |
16.7 |
|
Accounts Payable |
26.1 |
19.1 |
27.4 |
20.1 |
12.8 |
|
Inc Tax Payable |
- |
0.4 |
10.8 |
5.2 |
4.4 |
|
Accrued Expenses |
1.3 |
0.5 |
0.5 |
0.2 |
0.3 |
|
VAT Withheld |
- |
0.7 |
- |
- |
0.1 |
|
Advances Receivd |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Unearned Income |
- |
- |
0.0 |
- |
- |
|
Deposit Withheld |
1.2 |
0.8 |
1.2 |
0.2 |
0.1 |
|
Security Deposit Withheld |
0.3 |
- |
- |
- |
- |
|
ST Borrowings |
119.8 |
77.4 |
98.0 |
60.5 |
34.7 |
|
Derivatives |
1.9 |
12.9 |
31.5 |
1.5 |
0.3 |
|
Current LT Liab. |
9.6 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Current Portion of LT Bonds |
4.4 |
- |
- |
- |
- |
|
Deferred Income Tax Credits |
- |
0.0 |
- |
0.0 |
0.1 |
|
Total Current Liability |
207.4 |
186.4 |
218.9 |
123.2 |
71.6 |
|
|
|
|
|
|
|
|
LT Borrowings |
86.0 |
35.1 |
42.9 |
19.4 |
7.4 |
|
Bonds |
- |
4.3 |
4.0 |
- |
- |
|
Convertible Bonds |
1.8 |
- |
- |
- |
- |
|
Capital Lease Liabilities |
8.2 |
- |
- |
- |
- |
|
Total Long Term Debt |
96.0 |
39.4 |
46.8 |
19.4 |
7.4 |
|
|
|
|
|
|
|
|
Derivative Products in Liabilities |
- |
3.7 |
23.3 |
2.2 |
- |
|
Deferred Income Tax, Credit |
7.3 |
7.9 |
1.3 |
2.9 |
2.1 |
|
Retirement Resrv |
3.5 |
3.3 |
0.5 |
1.2 |
0.2 |
|
Minority Interst |
48.1 |
58.6 |
35.5 |
41.0 |
13.2 |
|
Deposit-Retirement Insurance |
-0.9 |
-2.7 |
- |
- |
- |
|
Transfer to National Pension Fund |
0.0 |
0.0 |
- |
- |
- |
|
Plan Assets |
-2.5 |
- |
- |
- |
- |
|
Deferred Income from Sale of Tangible As |
0.4 |
- |
- |
- |
- |
|
Total Liabilities |
359.5 |
296.5 |
326.3 |
189.8 |
94.5 |
|
|
|
|
|
|
|
|
Common Stock |
6.4 |
6.2 |
5.7 |
7.6 |
7.7 |
|
Other Capital Surplus |
7.8 |
7.4 |
5.2 |
6.5 |
3.5 |
|
Paid-in Capital in Excess of Par |
62.4 |
60.8 |
56.3 |
75.7 |
76.2 |
|
Gain-Capital Reduction |
0.4 |
0.4 |
0.4 |
0.5 |
0.5 |
|
Voluntary Reserve |
1.7 |
1.7 |
1.6 |
2.1 |
2.3 |
|
Revaluation Retained Earnings |
17.6 |
17.5 |
14.8 |
- |
- |
|
Legal Reserve |
0.9 |
0.6 |
0.6 |
0.5 |
0.4 |
|
Reserve for Assets Revaluation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earning Carried Forward |
58.6 |
81.5 |
56.0 |
70.9 |
45.0 |
|
Capital Change under Equity Method |
- |
- |
- |
0.7 |
0.0 |
|
L-Sec for Sale V |
0.4 |
- |
- |
0.0 |
0.0 |
|
Total Equity |
156.4 |
176.2 |
140.5 |
164.5 |
135.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
515.9 |
472.7 |
466.8 |
354.3 |
230.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
14.6 |
14.6 |
14.5 |
14.5 |
14.5 |
|
Total Common Shares Outstandin |
14.6 |
14.6 |
14.5 |
14.5 |
14.5 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
0.5 |
0.1 |
0.8 |
0.3 |
0.5 |
|
Deferred Revenue - Long Term |
0.4 |
- |
- |
- |
- |
|
Full-Time Employees |
305 |
279 |
295 |
247 |
176 |
|
Number of Common Shareholders |
21,854 |
24,453 |
10,137 |
10,611 |
2,876 |
|
Long Term Debt Maturing within 1 Year |
7.8 |
24.5 |
2.2 |
1.4 |
1.5 |
|
Long Term Debt Maturing within 2 Years |
13.4 |
1.6 |
23.1 |
2.9 |
1.5 |
|
Long Term Debt Maturing within 3 Years |
26.0 |
8.2 |
4.4 |
4.3 |
1.1 |
|
Long Term Debt Maturing within 4 Years |
16.6 |
7.0 |
4.4 |
4.6 |
1.3 |
|
Long Term Debt Maturing within 5 Years |
- |
6.2 |
- |
3.5 |
1.2 |
|
Long Term Debt Remaining Maturities |
30.0 |
12.1 |
11.0 |
4.1 |
2.3 |
|
Total Long Term Debt, Supplemental |
93.8 |
59.6 |
45.1 |
20.8 |
8.9 |
|
Operating Lease Maturing within 1 Year |
- |
- |
- |
0.2 |
0.0 |
|
Operating Lease Maturing within 5 Year |
- |
- |
- |
0.2 |
0.0 |
|
Optg leases-year 2 |
- |
- |
- |
0.3 |
- |
|
Total Operating Leases |
- |
- |
- |
0.7 |
0.1 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-33.0 |
21.1 |
12.8 |
27.8 |
18.8 |
|
Depreciation |
15.1 |
17.2 |
17.6 |
10.1 |
4.9 |
|
Amortization of Intangible |
- |
- |
- |
- |
0.1 |
|
Recovery-Negative Goodwill Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Provision for Doubtful Accounts |
0.6 |
0.0 |
0.3 |
0.1 |
0.2 |
|
Provision for Other Doubtful Accounts |
0.8 |
- |
0.0 |
- |
0.1 |
|
Recovery-Provision Doubtful Account |
- |
-0.2 |
-0.2 |
-0.1 |
- |
|
Accrued Interest Expense |
0.0 |
- |
- |
- |
- |
|
Retirement Allowance |
1.6 |
1.5 |
1.9 |
1.1 |
0.9 |
|
Repair Expense |
- |
1.1 |
- |
- |
- |
|
Amrt-Disc Issu Cnvrt |
- |
- |
- |
- |
0.0 |
|
G-For Exch Translatn |
-0.1 |
-0.8 |
-0.4 |
-0.4 |
-0.3 |
|
L-For Exch Translatn |
0.8 |
1.1 |
5.0 |
0.1 |
0.0 |
|
L-Secs. for Sale Disposal |
0.0 |
0.0 |
- |
- |
0.0 |
|
L-Tangible Asst Disp |
0.0 |
0.4 |
0.0 |
0.0 |
1.2 |
|
Loss-Revaluation of Assets |
- |
- |
0.0 |
- |
- |
|
Loss-Valuation of Derivatives |
0.2 |
6.3 |
62.4 |
3.7 |
0.3 |
|
Gains Under Equity Method |
- |
- |
-0.6 |
-1.5 |
-0.3 |
|
L-Equity Method Valu |
2.5 |
1.7 |
0.9 |
0.0 |
0.8 |
|
G-Tangible Asst Disp |
-0.3 |
-3.7 |
-2.2 |
0.0 |
-2.3 |
|
Gain-Disp. of Equity Method Securities |
- |
-0.4 |
0.0 |
- |
-0.2 |
|
G-Secs. for Sale Disposal |
- |
-0.2 |
-0.1 |
-0.1 |
0.0 |
|
Gain-Derivatives Valuation |
-1.8 |
-9.9 |
-7.5 |
-0.2 |
0.0 |
|
Trade Receivables |
0.0 |
23.1 |
-17.0 |
-13.7 |
-11.7 |
|
Accrued Income |
0.0 |
-0.3 |
0.0 |
0.1 |
-0.7 |
|
Corporate Tax Refundable |
-0.1 |
-0.2 |
0.2 |
- |
- |
|
Account Receivables |
0.0 |
-0.1 |
0.1 |
-0.2 |
0.1 |
|
Prepaid Expenses |
0.1 |
0.1 |
-0.3 |
0.0 |
0.0 |
|
Prepaid Taxes |
- |
- |
- |
-0.2 |
0.0 |
|
Ppd Valu Added Taxes |
-2.3 |
4.1 |
-2.8 |
-3.4 |
-0.2 |
|
Derivatives in Assets |
0.9 |
6.4 |
0.2 |
0.0 |
- |
|
Guarantee Deposit |
- |
- |
- |
- |
0.6 |
|
Advance Payments |
-0.1 |
0.5 |
-0.3 |
0.2 |
0.7 |
|
Inventories |
26.3 |
35.8 |
-109.8 |
-55.0 |
-9.4 |
|
Deferred Taxes-Assets |
-10.8 |
0.9 |
-7.6 |
-0.2 |
0.0 |
|
Deferred Taxes-Liab. |
-1.1 |
4.6 |
-5.4 |
-0.6 |
0.4 |
|
Trade Payables |
-10.4 |
-16.7 |
17.9 |
16.4 |
1.1 |
|
Account Payable |
6.4 |
-8.6 |
14.3 |
7.4 |
7.2 |
|
Accrued Expenses |
0.7 |
0.0 |
0.4 |
-0.1 |
0.0 |
|
Accrued Inc Tax |
-0.4 |
-10.2 |
7.9 |
0.5 |
0.6 |
|
Valu Add Tax Withhld |
-0.8 |
0.7 |
- |
- |
-0.1 |
|
Unearned Income |
- |
0.0 |
0.0 |
- |
- |
|
Advances Received |
0.3 |
-0.6 |
0.6 |
-0.2 |
0.3 |
|
Deposits Withheld |
0.3 |
-0.4 |
1.2 |
-0.1 |
0.0 |
|
Derivatives in Liabilities |
-13.0 |
-36.4 |
-2.7 |
-0.3 |
- |
|
Increase-Reserve for Severance & Retirem |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Government Subsidies |
0.1 |
-0.2 |
-0.1 |
0.0 |
-0.1 |
|
Dividend Income, A/L |
- |
- |
- |
0.0 |
0.0 |
|
Nation Pension Fnd |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Retiremt Allow Paymt |
-1.5 |
-1.3 |
-1.3 |
-0.4 |
-0.7 |
|
Retirement Insurance |
1.9 |
-0.2 |
-1.1 |
-0.1 |
-0.7 |
|
Guarantee Deposit for Futures Trade |
-0.1 |
- |
- |
- |
- |
|
Retirement Pension Operating Fund |
-2.8 |
- |
- |
- |
- |
|
Cash From Operating Activities |
-20.1 |
36.2 |
-15.6 |
-9.3 |
11.8 |
|
|
|
|
|
|
|
|
Dec-ST Finl Asset |
93.9 |
18.8 |
53.0 |
95.2 |
11.4 |
|
Dec-LT Finl Asset |
2.0 |
11.2 |
0.6 |
0.1 |
0.2 |
|
Disp-Secs. for Sale |
38.4 |
0.3 |
4.2 |
4.4 |
2.1 |
|
Disposal-Securities under Equity Method |
- |
2.3 |
5.0 |
0.0 |
- |
|
Disposal-Securities Held to Maturities |
- |
0.0 |
- |
0.0 |
0.0 |
|
Dec-ST Loans |
2.6 |
3.8 |
3.1 |
0.3 |
0.7 |
|
Dec-Guarantee Dep |
1.0 |
0.0 |
0.3 |
0.0 |
0.1 |
|
Disposal-Land |
- |
6.6 |
5.8 |
- |
3.1 |
|
Disposal-Buildings |
0.1 |
2.2 |
10.3 |
- |
0.7 |
|
Disposal-Structures |
- |
0.1 |
0.3 |
- |
0.1 |
|
Disp-Machinery |
0.3 |
4.2 |
0.0 |
- |
0.8 |
|
Disp-Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Disposal of Tools |
0.0 |
0.0 |
- |
- |
0.0 |
|
Disposal-Supplies |
- |
0.0 |
0.0 |
- |
- |
|
Disposal-Construction in Progress |
9.9 |
5.6 |
- |
- |
- |
|
Inc-ST Loans |
-2.5 |
-4.7 |
-4.2 |
-0.5 |
-0.7 |
|
Inc-Guarantee Dep |
-1.8 |
-0.4 |
-1.1 |
-0.5 |
-0.2 |
|
Increase-Membership Right |
0.0 |
- |
- |
- |
- |
|
Inc-ST Finl Asset |
-87.8 |
-43.4 |
-33.8 |
-69.9 |
-66.3 |
|
Inc-LT Finl Asset |
-11.1 |
-11.9 |
-4.3 |
-5.2 |
-1.4 |
|
Increase-Securities Available for Sale |
-50.4 |
-4.3 |
-0.5 |
-4.3 |
-4.7 |
|
Increase-Securities Held to Maturities |
- |
-0.1 |
-0.4 |
- |
- |
|
Increase-Securities under Equity Method |
- |
-6.7 |
-5.9 |
-1.6 |
- |
|
Acq-Land |
-12.7 |
- |
-3.5 |
-13.1 |
-6.0 |
|
Acq-Building |
-0.9 |
-0.5 |
-1.8 |
0.0 |
-0.1 |
|
Increase-Structure |
-0.1 |
0.0 |
-0.2 |
- |
- |
|
Acq-Machinery |
-0.3 |
-1.3 |
-2.2 |
-0.5 |
-0.1 |
|
Acq-Fixtures |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
-0.1 |
|
Acq-Vehicles |
0.0 |
0.0 |
0.0 |
- |
-0.1 |
|
Acq-Tools/Equipmt |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
-0.3 |
|
Acq-Constructn Prog |
-42.4 |
-37.1 |
-53.0 |
-61.9 |
-25.7 |
|
Increase-Assets on Capital Lease |
-9.8 |
- |
- |
- |
- |
|
Cash From Investing Activities |
-72.0 |
-55.3 |
-28.5 |
-57.8 |
-86.5 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
217.3 |
164.6 |
287.0 |
120.0 |
51.4 |
|
Inc-LT Borrowing |
62.3 |
13.6 |
35.4 |
13.6 |
0.2 |
|
Increase-LT Lease Liabilities |
9.8 |
- |
- |
- |
- |
|
Increase-Bond |
- |
- |
4.5 |
- |
- |
|
Increase-Convertible Bond |
1.8 |
- |
- |
- |
- |
|
Inc-Share Capital |
- |
11.6 |
- |
22.2 |
73.7 |
|
Disposal-Treasury Stock |
1.2 |
0.0 |
- |
- |
0.0 |
|
Increase-Accrued Payable |
- |
70.7 |
- |
- |
- |
|
Inc-Gonvernment Subsidies |
- |
0.0 |
- |
0.5 |
0.2 |
|
Increase-Security Deposit Received |
0.3 |
0.0 |
- |
- |
- |
|
Decrease-Lease Guarantee Deposit |
- |
- |
-0.2 |
- |
- |
|
Dec-Currrent Portion of Bonds |
- |
- |
- |
- |
-2.1 |
|
Dec-ST Borrowings |
-178.1 |
-190.1 |
-225.6 |
-88.6 |
-48.7 |
|
Dec-LT Borrowings |
-5.5 |
-2.2 |
- |
- |
-0.6 |
|
Dec-Curr LT Liabs |
-24.7 |
-2.1 |
-2.8 |
-1.5 |
-1.7 |
|
Acquisiton of Treasury Stocks |
-1.0 |
- |
- |
- |
0.0 |
|
Decrease-Accrued Payment |
- |
-71.9 |
- |
- |
- |
|
Decrease-Security Deposit |
- |
0.0 |
- |
- |
- |
|
Dividends Paid |
-3.1 |
- |
-2.8 |
-0.8 |
- |
|
Cash Outflow-Consol. Capital Transaction |
- |
- |
- |
0.0 |
- |
|
Cash Inflow-Consoli. Capital Transaction |
- |
3.0 |
- |
0.0 |
- |
|
Cash Inflow-Consolidation Scope Change |
- |
- |
- |
0.2 |
- |
|
Recovery-Capital Increase Contribution |
0.0 |
- |
- |
- |
- |
|
Cash From Financing Activities |
80.2 |
-2.8 |
95.6 |
65.6 |
72.3 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-11.9 |
-21.9 |
51.5 |
-1.6 |
-2.4 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
27.8 |
47.0 |
3.1 |
5.2 |
7.5 |
|
Net Cash Ending Balance |
15.9 |
25.2 |
54.5 |
3.6 |
5.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.36 |
|
UK Pound |
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.