MIRA INFORM REPORT

 

 

Report Date :

26.10.2012

 

IDENTIFICATION DETAILS

 

Name :

WOONGJIN CHEMICAL CO., LTD.

 

 

Registered Office :

287, Gongdan-Dong Gumi, 730030

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.07.1972

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Subject engaged in the production and supply of polyester fibers and related products.

 

 

No. of Employees :

1,178

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SOUTH KOREA - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP

Source : CIA

COMPANY NAME AND ADDRESS

 

WOONGJIN CHEMICAL CO., LTD.                                                                                                                 

 

287, Gongdan-Dong

Gumi, 730030

Korea, Republic of

Tel: 82-54-4694114

Fax: 82-2-32797062

 Website: www.wjchemical.com

 

 

Employees:                   1,178

Company Type:             Public Subsidiary

Corporate Family:          9 Companies

Ultimate Parent:             Woongjin Thinkbig Co., Ltd.

Traded:                         Korea Stock Exchange: 008000

 

Incorporation Date:         01-Jul-1972

Auditor:                         Deloitte & Touche LLP

Financials in:                 USD (Millions)

             

Fiscal Year End:            31-Dec-2011

Reporting Currency:       South Korean Won

Annual Sales:                1,052.6  1

Net Income:                   7.5

Total Assets:                 673.1  2

Market Value:                282.7

                                    (27-Jul-2012)

 

 

Business Description

             

 

Woongjin Chemical Co., Ltd. is a Korean company engaged in the production and supply of polyester fibers and related products. The Company’s products consist of polyester filaments, such as functional yarns, stretch yarns, micro yarns, wool like yarns, silk link yarns, linen like yarns, cotton like yarns, rayon like yarns and melange looking yarns; polyester staple fibers, such as specialized fibers, nonwoven fibers, hygiene fibers, spinning fibers and regular fibers; chips, such as polyethylen terephthalate (PET), flame retardants and others; textiles under the brand names of eslontex, evica, purimax, ESFRON and ecowin; chemical sheets, such as PET sheets used as food packaging, blister, box packaging and other materials, as well as optical materials and others. For the fiscal year ended 31 December 2010, WOONGJIN CHEMICAL CO., LTD.'s total revenues increased 14% to W954.17B. Net income totaled W60.20B, up from W10.10B. Revenues reflect increased domestic and foreign demands for filters. Net income also benefited from increased gain under equity method, increased gain on sale of tangible assets, decreased interest expense, decreased loss on foreign currency transaction.

 

 

 

Industry      

 

 

Industry

Textiles - Non Apparel

ANZSIC 2006:

1312 - Natural Textile Manufacturing

NACE 2002:

171 - Preparation and spinning of textile fibres

NAICS 2002:

313112 - Yarn Texturing, Throwing, and Twisting Mills

UK SIC 2003:

171 - Preparation and spinning of textile fibres

US SIC 1987:

2282 - Yarn Texturizing, Throwing, Twisting, and Winding Mills

 

 

Key Executives   

             

 

Name

Title

Chan Gu Park

Chief Executive Officer, Managing Director, Director

Ji Yong Ahn

Internal Auditor

K. U. Park

President & CEO

Min Ki Lee

Auditor

Jung Hoon Kim

Managing Director-Business Development

 

 

Significant Developments

           

Topic

#*

Most Recent Headline

Date

Other Earnings Pre-Announcement

1

WOONGJIN CHEMICAL CO.,LTD Revises FY 2011 Outlook

28-Dec-2011

Equity Investments

1

WOONGJIN HOLDINGS CO., LTD. to Acquire Stake in WOONGJIN CHEMICAL CO.,LTD from Woongjin Coway Co., Ltd.

30-May-2012

Debt Financing / Related

1

WOONGJIN CHEMICAL CO.,LTD Decides Issuance of Commercial Paper

18-Apr-2012

Positive Earnings Pre-Announcement

1

WOONGJIN CHEMICAL CO.,LTD Issues FY 2012 Outlook Above Analysts' Estimates

14-Feb-2012

Share Repurchases

1

WOONGJIN CHEMICAL CO.,LTD to Retire Shares

23-Nov-2011

 

 * number of significant developments within the last 12 months

 

 

 

News   

 

 

Title

Date

Australia: Woongjin Chemical Receives Patent for 'Fabric for sun screen including dope dyed fiber'
Australian Government (90 Words)

29-Feb-2012

Australia: Woongjin Chemical, Youil Receive Patent for '3D fabric and preparing thereof'
Australian Government (102 Words)

13-Jan-2012

Australia: Woongjin Chemical and Youil Receive Patent for '3D fabric and preparing thereof'
Australian Government (101 Words)

6-Sep-2011

 

 

Financial Summary

 

As of 31-Dec-2011          

Key Ratios

Company

Industry

Sales 5 Year Growth

9.29

-1.82

 

Stock Snapshot

      

 

Traded: Korea Stock Exchange: 008000

 

As of 27-Jul-2012

 Financials in: KRW

Recent Price

699.00

 

EPS

46.63

52 Week High

1,310.00

 

Price/Sales

0.28

52 Week Low

680.00

 

Price/Book

1.08

Avg. Volume (mil)

1.80

 

Beta

1.49

Market Value (mil)

324,083.30

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

-4.51%

-3.21%

13 Week

-12.95%

-5.99%

52 Week

-44.52%

-34.61%

Year to Date

-27.19%

-27.33%

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152

 

 

Corporate Overview

 

Location
287, Gongdan-Dong
Gumi, 730030
Korea, Republic of

 

Tel:82-54-4694114

Fax:82-2-32797062

 

Website: www.wjchemical.com

Quote Symbol - Exchange

008000 - Korea Stock Exchange

Sales KRW(mil):            1,166,196.6

Assets KRW(mil):          775,405.2

Employees:                   1,178

Fiscal Year End:            31-Dec-2011

 

Industry:                        Textiles - Non Apparel

Incorporation Date:         01-Jul-1972

Company Type:             Public Subsidiary

Quoted Status:              Quoted

Previous Name:             Saehan Industries Inc

 

Chief Executive Officer, Managing Director, Director:  Chan Gu Park

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1899

-

Other Basic Chemical Product Manufacturing Not Elsewhere Classified

1829

-

Other Basic Polymer Manufacturing

1912

-

Rigid and Semi-Rigid Polymer Product Manufacturing

1332

-

Rope, Cordage and Twine Manufacturing

1312

-

Natural Textile Manufacturing

 

NACE 2002 Codes:

1754

-

Manufacture of other textiles not elsewhere classified

171

-

Preparation and spinning of textile fibres

2521

-

Manufacture of plastic plates, sheets, tubes and profiles

2470

-

Manufacture of man-made fibres

2466

-

Manufacture of other chemical products not elsewhere classified

 

NAICS 2002 Codes:

314999

-

All Other Miscellaneous Textile Product Mills

326130

-

Laminated Plastics Plate, Sheet (except Packaging), and Shape Manufacturing

325998

-

All Other Miscellaneous Chemical Product and Preparation Manufacturing

313112

-

Yarn Texturing, Throwing, and Twisting Mills

325222

-

Noncellulosic Organic Fiber Manufacturing

 

NAICS 2002 Codes:

314999

-

All Other Miscellaneous Textile Product Mills

326130

-

Laminated Plastics Plate, Sheet (except Packaging), and Shape Manufacturing

325998

-

All Other Miscellaneous Chemical Product and Preparation Manufacturing

313112

-

Yarn Texturing, Throwing, and Twisting Mills

325222

-

Noncellulosic Organic Fiber Manufacturing

 

US SIC 1987:

2824

-

Manmade Organic Fibers, Except Cellulosic

2299

-

Textile goods, Not Elsewhere Classified

2282

-

Yarn Texturizing, Throwing, Twisting, and Winding Mills

3083

-

Laminated Plastics Plate, Sheet, and Profile Shapes

2899

-

Chemicals and Chemical Preparations, Not Elsewhere Classified

 

UK SIC 2003:

2521

-

Manufacture of plastic plates, sheets, tubes and profiles

2470

-

Manufacture of man-made fibres

2466

-

Manufacture of other chemical products not elsewhere classified

17549

-

Manufacture of other textiles not elsewhere classified

171

-

Preparation and spinning of textile fibres

 

 

Business Description

 

Woongjin Chemical Co., Ltd. is a Korean company engaged in the production and supply of polyester fibers and related products. The Company’s products consist of polyester filaments, such as functional yarns, stretch yarns, micro yarns, wool like yarns, silk link yarns, linen like yarns, cotton like yarns, rayon like yarns and melange looking yarns; polyester staple fibers, such as specialized fibers, nonwoven fibers, hygiene fibers, spinning fibers and regular fibers; chips, such as polyethylen terephthalate (PET), flame retardants and others; textiles under the brand names of eslontex, evica, purimax, ESFRON and ecowin; chemical sheets, such as PET sheets used as food packaging, blister, box packaging and other materials, as well as optical materials and others. For the fiscal year ended 31 December 2010, WOONGJIN CHEMICAL CO., LTD.'s total revenues increased 14% to W954.17B. Net income totaled W60.20B, up from W10.10B. Revenues reflect increased domestic and foreign demands for filters. Net income also benefited from increased gain under equity method, increased gain on sale of tangible assets, decreased interest expense, decreased loss on foreign currency transaction.

 

 

More Business Descriptions

Manufacture and export of synthetic textiles, including rayon, polyester and mixed fabrics; sale of base film for video tapes

 

Chemicals & Textiles Mfr & Distr

 

Artificial and Synthetic Fibers and Filaments Manufacturing

 

 

Financial Data

 

Financials in:

KRW(mil)

1 Year Growth

Revenue:

1,166,196.6

19.7%

Net Income:

8,268.7

-87.2%

Assets:

775,405.2

5.2%

Long Term Debt:

145,520.7

 

Total Liabilities:

467,741.5

 

Working Capital:

-121.2

 

Date of Financial Data:

31-Dec-2011

 

 

Market Data

 

Quote Symbol:              008000

Exchange:                     Korea Stock Exchange

Currency:                      KRW

Stock Price:                  699.0

Stock Price Date:          07-27-2012

52 Week Price Change %:-44.5

Market Value (mil):         324,083,296.0

SEDOL:                        6189776

ISIN:                             KR7008000002

 

Equity and Dept Distribution

 

All financials are consolidated. 2/04, 1-for-3 share reduction. FY'05 is updated with amended financials (C/F is not amended). 04/08, Name changed from SAEHAN INDUSTRIES INC. 05/09 1-for-10 Share Split.

 

 

Shareholders

 

 

Major Shareholders

Woongjin ThinkBig Co Ltd

 

 

Key Corporate Relationships

 

Auditor: Deloitte & Touche LLP

Auditor: Deloitte & Touche LLP

 

 

Corporate Structure News

 

Total Corporate Family Members: 9

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Woongjin Thinkbig Co., Ltd.

Parent

Paju

Korea, Republic of

Printing and Publishing

783.2

2,382

WOONGJIN CHEMICAL CO., LTD.

Subsidiary

Gumi

Korea, Republic of

Textiles - Non Apparel

1,052.6

1,178

Woongjin Chemical Shanghai Co., Ltd.

Subsidiary

Shanghai

China

Textiles - Non Apparel

 

20

P.T. WOONGJIN TEXTILES

Subsidiary

Jakarta

Indonesia

Textiles - Non Apparel

 

6

Woongjin Chemical Co., Ltd. - Yugu Plant

Facility

Gongju, Chungcheongnam-do

Korea, Republic of

Textiles - Non Apparel

 

 

Woongjin Chemical Co., Ltd. - Gumi I Plant

Facility

Gumi, Gyeongsangbuk-do

Korea, Republic of

Textiles - Non Apparel

 

 

Woongjin PassOne Co

Subsidiary

Seoul

Korea, Republic of

Schools

73.7

267

Eduwang Co,. Ltd.

Subsidiary

Seoul, Seoul

Korea, Republic of

Printing and Publishing

 

80

Compass Media Co., Ltd.

Subsidiary

Seoul, Seoul

Korea, Republic of

Printing and Publishing

9.1

62

 

 

Board of Directors

 

 

Name

Title

Function

Jun Gi Hong

 

Director

Director/Board Member

Biography:

Hong Jun Gi has been Director of WOONGJIN CHEMICAL CO., LTD since March 21, 2008. Previously, Hong was President and Chief Executive Officer of WOONGJIN COWAY CO.,LTD and President for Samsung Electronics Co., Ltd. in Hungary and Spain. Hong holds a Master of Business Administration from Korea Advanced Institute of Science & Technology (KAIST).

 

Age: 53

 

Education:

Korea Advanced Institute of Science & Technology, MBA
Sungkyunkwan University, B (Electrical Engineering)

 

Yong Su Kang

 

Non-Executive Independent Director

Director/Board Member

 

Biography:

Kang Yong Su has been Non-Executive Independent Director of WOONGJIN CHEMICAL CO., LTD since March 21, 2008. Kang is currently a professor Hanyang University, Korea. Kang was previously Chairman of THE MEMBRANE SOCIETY OF KOREA. Kang holds a Doctorate's degree in Chemical Engineering from Tufts University, the United States.

 

Age: 58

 

Education:

Dong Hyeon Kim

 

Director

Director/Board Member

 

Chan Gu Park

 

Chief Executive Officer, Managing Director, Director

Director/Board Member

 

Biography:

Park Chan Gu has been serving as Chief Executive Officer, Managing Director and Director of WOONGJIN CHEMICAL CO., LTD since December 31, 2011. Park used to be Chief Executive Officer and Director of a Korea-based company and Head of Strategic Planning.

 

Age: 48

 

Jun Wu Park

 

Director

Director/Board Member

 

Age: 39

 

Gwang Su Shin

 

Director

Director/Board Member

 

Biography:

Shin Gwang Su has been Director of WOONGJIN CHEMICAL CO., LTD. since March 19, 2010. Previously Shin was Chief Executive Officer of booxen co.,Ltd. and WOONGJIN HOLDINGS CO., LTD. Shin holds a Bachelor's degree in Business Administration from Yonsei University, Korea.

 

Age: 43

 

Education:

University of Pennsylvania's Wharton School, MBA
Yonsei University, BBA

 

Yang Yong Yoon

 

Non-Executive Independent Director

Director/Board Member

 

Biography:

Yoon Yang Yong is Non-Executive Independent Director of WOONGJIN CHEMICAL CO.,LTD. Previously, Yoon was Chief Executive Officer of a Korea-based company and worked for WOONGJIN COWAY CO.,LTD.

 

Age: 56

 

 

 

Executives

 

 

Name

Title

Function

Chan Gu Park

 

Chief Executive Officer, Managing Director, Director

Chief Executive Officer

Biography:

Park Chan Gu has been serving as Chief Executive Officer, Managing Director and Director of WOONGJIN CHEMICAL CO., LTD since December 31, 2011. Park used to be Chief Executive Officer and Director of a Korea-based company and Head of Strategic Planning.

 

Age: 48

 

Kwang Up Park

 

President & Chief Executive Officer

Chief Executive Officer

 

K. U. Park

 

President & Ceo

Chief Executive Officer

 

Jeong Chul Byun

 

Assistant Managing Director

Managing Director

 

Age: 44

 

Seong Dae Chi

 

Assistant Managing Director

Managing Director

 

Age: 53

 

Deok Jae Cho

 

Assistant Managing Director

Managing Director

 

Age: 51

 

Dong Soo Kang

 

Managing Director-Factory

Managing Director

 

Seong Hun Kim

 

Assistant Managing Director

Managing Director

 

Age: 51

 

Jeong Cheol Kim

 

Assistant Managing Director

Managing Director

 

Age: 42

 

Bi Oh Kim

 

Assistant Managing Director

Managing Director

 

Age: 46

 

Jung Hoon Kim

 

Managing Director-Business Development

Managing Director

 

Yeon Soo Kim

 

Assistant Managing Director

Managing Director

 

Jung Yeol Kim

 

Managing Director-Environment

Managing Director

 

Yeong Ho Lee

 

Assistant Managing Director

Managing Director

 

Age: 48

 

Sang Ok Moon

 

Assistant Managing Director

Managing Director

 

Age: 53

 

Su Jeong Moon

 

Assistant Managing Director

Managing Director

 

Age: 42

 

Wu Gyu Yim

 

Assistant Managing Director

Managing Director

 

Age: 50

 

Hui Seok Yim

 

Assistant Managing Director

Managing Director

 

Age: 47

 

Beong Seop Yoon

 

Assistant Managing Director

Managing Director

 

Age: 52

 

Hui Soo Kim

 

Chief Operating Officer

Operations Executive

 

Min Ki Lee

 

Auditor

Finance Executive

 

Ji Yong Ahn

 

Internal Auditor

Accounting Executive

 

Biography:

Ahn Ji Yong has been Internal Auditor of WOONGJIN CHEMICAL CO., LTD. since March 19, 2010. Ahn previously served as an accountant of KPMG Samjong Accounting Corp. Ahn holds a Master's degree in Business Administration from Yonsei University, Korea.

 

Age: 40

 

Education:

Yonsei University, B (Business Administration)

 

Bo In Seo

 

Director-Business-Cotton

Other

 

 

 

Significant Developments

 

 

 

 

WOONGJIN HOLDINGS CO., LTD. to Acquire Stake in WOONGJIN CHEMICAL CO.,LTD from Woongjin Coway Co., Ltd.

May 30, 2012


WOONGJIN HOLDINGS CO., LTD. announced that it will acquire 214,644,092 shares of WOONGJIN CHEMICAL CO.,LTD, for KRW 178,154,596,360, from Woongjin Coway Co., Ltd., representing a 46.3% stake, to maximize performance of WOONGJIN CHEMICAL. The expected transaction settlement date is July 27, 2012.

WOONGJIN CHEMICAL CO.,LTD Decides Issuance of Commercial Paper

Apr 18, 2012


WOONGJIN CHEMICAL CO.,LTD announced that it has decided to issue KRW 40 billion worth of commercial paper, to secure facilities investment capital.

WOONGJIN CHEMICAL CO.,LTD Issues FY 2012 Outlook Above Analysts' Estimates

Feb 14, 2012


WOONGJIN CHEMICAL CO.,LTD announced that it expects its fiscal year 2012 revenue and operating profit to record KRW 1,200 billion and KRW 60 billion. According to I/B/E/S, analysts on average are expecting the Company to report revenue of KRW 1,066 billion for fiscal year 2012.

WOONGJIN CHEMICAL CO.,LTD Revises FY 2011 Outlook

Dec 28, 2011


WOONGJIN CHEMICAL CO.,LTD announced that it has revised its fiscal year 2011 revenue and operating profit to record KRW 1,070 billion and KRW 15.7 billion, respectively. The Company previously, on February 9, 2011, expected fiscal year 2011 revenue and operating profit to record KRW 1,007.5 billion and KRW 62.5 billion.

WOONGJIN CHEMICAL CO.,LTD to Retire Shares

Nov 23, 2011


WOONGJIN CHEMICAL CO.,LTD announced that its Board of Directors has authorized the Company to repurchase 10,823,000 common shares worth KRW 10,000,452,000 and cancel the repurchased shares.

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Net Sales

1,050.0

841.9

656.1

798.1

831.9

Revenue

1,050.0

841.9

656.1

798.1

831.9

    Other Revenue

2.7

0.4

-

-

-

Other Revenue, Total

2.7

0.4

-

-

-

Total Revenue

1,052.6

842.3

656.1

798.1

831.9

 

 

 

 

 

 

    Cost of Revenue

923.3

721.2

569.4

700.8

763.1

Cost of Revenue, Total

923.3

721.2

569.4

700.8

763.1

Gross Profit

126.7

120.7

86.7

97.3

68.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

56.8

46.9

38.9

40.5

42.6

    Labor & Related Expense

18.7

17.1

15.1

14.9

15.1

    Advertising Expense

4.7

3.2

3.3

3.8

0.9

Total Selling/General/Administrative Expenses

80.2

67.2

57.3

59.1

58.5

Research & Development

9.2

9.2

8.3

6.6

4.8

    Depreciation

1.5

1.0

0.3

0.4

0.5

    Amortization of Intangibles

0.9

0.4

0.3

0.3

0.3

Depreciation/Amortization

2.4

1.4

0.6

0.6

0.8

        Investment Income - Operating

2.9

1.9

-

-

-

    Interest/Investment Income - Operating

2.9

1.9

-

-

-

Interest Expense (Income) - Net Operating Total

2.9

1.9

-

-

-

    Impairment-Assets Held for Use

21.2

3.4

-

-

-

    Loss (Gain) on Sale of Assets - Operating

0.3

0.5

-

-

-

Unusual Expense (Income)

21.5

3.9

-

-

-

    Other Operating Expense

1.3

0.9

-

-

-

    Other, Net

-1.5

-1.6

-

-

-

Other Operating Expenses, Total

-0.2

-0.8

-

-

-

Total Operating Expense

1,039.3

804.0

635.6

767.2

827.2

 

 

 

 

 

 

Operating Income

13.4

38.3

20.5

31.0

4.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-12.0

-13.6

-12.3

-15.0

-25.9

        Interest Capitalized - Non-Operating

0.5

0.5

-

-

-

    Interest Expense, Net Non-Operating

-11.5

-13.2

-12.3

-15.0

-25.9

        Interest Income - Non-Operating

1.0

3.7

1.7

2.3

3.4

        Investment Income - Non-Operating

0.8

0.2

2.3

-17.8

-7.8

    Interest/Investment Income - Non-Operating

1.9

3.8

4.0

-15.5

-4.4

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-9.6

-9.3

-8.3

-30.5

-30.3

Gain (Loss) on Sale of Assets

-

-

-1.9

-5.4

-0.5

    Other Non-Operating Income (Expense)

0.0

-1.2

0.6

5.1

-31.9

Other, Net

0.0

-1.2

0.6

5.1

-31.9

Income Before Tax

3.7

27.7

11.0

0.2

-58.0

 

 

 

 

 

 

Total Income Tax

-2.5

-16.3

2.2

0.5

0.5

Income After Tax

6.3

44.0

8.8

-0.3

-58.5

 

 

 

 

 

 

    Minority Interest

-0.4

0.2

0.0

-0.1

0.0

Net Income Before Extraord Items

5.9

44.2

8.8

-0.4

-58.5

    Discontinued Operations

1.5

0.1

-0.9

-1.5

-4.7

Total Extraord Items

1.5

0.1

-0.9

-1.5

-4.7

Net Income

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

5.9

44.2

8.8

-0.4

-58.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

472.0

474.4

470.9

470.3

470.3

Basic EPS Excl Extraord Items

0.01

0.09

0.02

0.00

-0.12

Basic/Primary EPS Incl Extraord Items

0.02

0.09

0.02

0.00

-0.13

Dilution Adjustment

0.0

0.0

0.0

0.0

-

Diluted Net Income

7.5

44.3

7.9

-1.9

-63.2

Diluted Weighted Average Shares

472.0

474.4

470.9

470.3

470.3

Diluted EPS Excl Extraord Items

0.01

0.09

0.02

0.00

-0.12

Diluted EPS Incl Extraord Items

0.02

0.09

0.02

0.00

-0.13

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Interest Expense, Supplemental

11.5

13.2

12.3

15.0

25.9

Interest Capitalized, Supplemental

-0.5

-0.5

0.0

-0.3

-0.1

Depreciation, Supplemental

27.4

23.7

22.4

28.9

49.5

Total Special Items

21.5

3.9

1.9

5.4

0.5

Normalized Income Before Tax

25.2

31.6

12.8

5.6

-57.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

7.5

1.4

0.4

1.9

0.2

Inc Tax Ex Impact of Sp Items

5.0

-14.9

2.5

2.4

0.7

Normalized Income After Tax

20.2

46.5

10.3

3.2

-58.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.9

46.7

10.3

3.1

-58.2

 

 

 

 

 

 

Basic Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Diluted Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Amort of Intangibles, Supplemental

0.9

0.5

0.4

0.4

0.3

Rental Expenses

3.5

3.0

2.0

1.9

2.5

Advertising Expense, Supplemental

4.7

3.2

3.3

3.8

0.9

Research & Development Exp, Supplemental

9.2

9.2

8.3

6.6

4.8

Normalized EBIT

37.7

44.0

20.5

31.0

4.7

Normalized EBITDA

66.0

68.2

43.3

60.3

54.5

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Cash & Equivalents

49.9

81.2

65.8

23.6

42.6

    Short Term Investments

0.1

0.0

10.0

1.4

6.4

Cash and Short Term Investments

50.0

81.2

75.8

25.0

49.1

        Accounts Receivable - Trade, Gross

-

-

83.6

89.1

104.5

        Provision for Doubtful Accounts

-

-

-5.0

-3.6

-5.3

    Trade Accounts Receivable - Net

128.0

117.8

78.8

85.7

99.9

    Other Receivables

9.0

7.8

7.5

10.9

8.8

Total Receivables, Net

137.0

125.5

86.4

96.6

108.7

    Inventories - Finished Goods

41.9

35.3

28.3

26.0

34.0

    Inventories - Work In Progress

36.1

28.4

22.9

20.1

31.5

    Inventories - Raw Materials

23.0

15.6

20.1

18.8

24.8

    Inventories - Other

14.6

8.5

1.4

2.2

2.0

Total Inventory

115.6

87.8

72.8

67.2

92.3

Prepaid Expenses

4.8

3.1

0.8

1.0

1.4

    Other Current Assets

0.0

0.0

1.4

1.1

1.3

Other Current Assets, Total

0.0

0.0

1.4

1.1

1.3

Total Current Assets

307.3

297.7

237.1

191.0

252.8

 

 

 

 

 

 

        Buildings

141.5

135.7

134.7

124.4

142.5

        Land/Improvements

63.0

62.4

78.4

73.8

104.0

        Machinery/Equipment

531.5

507.3

474.3

431.8

537.8

        Construction in Progress

24.8

33.0

16.0

4.1

8.7

        Other Property/Plant/Equipment

0.2

0.2

-

-

-

    Property/Plant/Equipment - Gross

761.1

738.6

703.4

634.1

793.0

    Accumulated Depreciation

-455.3

-437.7

-420.5

-374.1

-455.6

Property/Plant/Equipment - Net

305.7

300.9

282.9

260.0

337.4

Intangibles, Net

26.1

20.1

2.9

2.0

2.8

    LT Investment - Affiliate Companies

4.3

3.9

7.1

9.1

10.1

    LT Investments - Other

6.1

8.0

6.7

4.4

44.7

Long Term Investments

10.4

11.9

13.8

13.5

54.8

Note Receivable - Long Term

7.5

6.7

0.0

1.4

1.8

    Deferred Income Tax - Long Term Asset

15.8

12.4

0.4

1.9

2.1

    Other Long Term Assets

0.2

0.1

4.2

2.6

2.1

Other Long Term Assets, Total

16.1

12.5

4.7

4.5

4.1

Total Assets

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

Accounts Payable

87.6

107.8

90.3

40.4

40.1

Accrued Expenses

0.2

0.0

6.5

8.5

7.9

Notes Payable/Short Term Debt

90.4

82.7

34.3

16.2

42.6

Current Portion - Long Term Debt/Capital Leases

26.4

30.9

24.0

15.1

236.0

    Customer Advances

4.0

4.7

2.6

1.2

1.5

    Security Deposits

-

-

2.7

2.5

3.7

    Income Taxes Payable

0.5

0.1

0.1

0.4

-

    Other Payables

49.7

43.7

24.5

26.8

41.2

    Other Current Liabilities

3.8

4.5

2.2

1.3

9.3

Other Current liabilities, Total

58.0

53.0

32.0

32.3

55.6

Total Current Liabilities

262.5

274.4

187.2

112.4

382.2

 

 

 

 

 

 

    Long Term Debt

126.3

84.0

101.0

133.9

5.4

    Capital Lease Obligations

0.0

-

-

-

-

Total Long Term Debt

126.3

84.0

101.0

133.9

5.4

Total Debt

243.1

197.6

159.4

165.2

283.9

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.1

0.0

-

-

-

Deferred Income Tax

0.1

0.0

-

-

-

Minority Interest

2.0

1.6

1.4

2.2

1.8

    Reserves

0.4

0.5

0.3

0.1

0.2

    Pension Benefits - Underfunded

9.0

8.9

18.0

18.2

22.1

    Other Long Term Liabilities

5.7

6.1

3.9

0.3

-

Other Liabilities, Total

15.1

15.6

22.3

18.6

22.4

Total Liabilities

406.0

375.6

311.9

267.1

411.8

 

 

 

 

 

 

    Common Stock

205.9

209.0

203.7

186.7

251.3

Common Stock

205.9

209.0

203.7

186.7

251.3

Additional Paid-In Capital

-

-

37.1

30.3

40.7

Retained Earnings (Accumulated Deficit)

69.0

64.1

-21.9

-28.2

-58.5

Treasury Stock - Common

-

-

0.0

0.0

0.0

Unrealized Gain (Loss)

-0.1

-0.1

-0.7

-13.5

-2.5

    Translation Adjustment

0.3

-0.3

11.2

24.8

4.3

    Other Equity

-6.7

2.7

-

5.1

6.8

    Other Comprehensive Income

-1.5

-1.3

-

-

-

Other Equity, Total

-7.8

1.1

11.2

29.9

11.1

Total Equity

267.1

274.1

229.4

205.1

242.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

474.5

474.4

474.4

470.3

470.3

Total Common Shares Outstanding

474.5

474.4

474.4

470.3

470.3

Treasury Shares - Common Stock Primary Issue

-

0.0

0.0

0.0

0.0

Employees

1,178

1,028

1,047

1,095

1,086

Number of Common Shareholders

-

19,045

17,542

6,348

5,812

Accumulated Intangible Amort, Suppl.

3.1

2.3

1.4

1.0

0.9

Deferred Revenue - Current

4.0

4.7

2.6

1.2

1.5

Total Long Term Debt, Supplemental

153.0

-

117.5

147.9

236.0

Long Term Debt Maturing within 1 Year

26.4

-

17.3

15.1

236.0

Long Term Debt Maturing in Year 2

42.6

-

21.6

15.9

-

Long Term Debt Maturing in Year 3

74.3

-

25.9

20.0

-

Long Term Debt Maturing in Year 4

3.5

-

51.2

24.0

-

Long Term Debt Maturing in Year 5

1.2

-

0.2

71.6

-

Long Term Debt Maturing in 2-3 Years

116.9

-

47.6

35.9

-

Long Term Debt Maturing in 4-5 Years

4.7

-

51.4

95.6

-

Long Term Debt Matur. in Year 6 & Beyond

5.0

-

1.2

1.3

0.0

    Interest Costs

0.0

-

-

-

-

Total Capital Leases, Supplemental

0.0

-

-

-

-

Capital Lease Payments Due in Year 1

0.0

-

-

-

-

Capital Lease Payments Due in Year 2

0.0

-

-

-

-

Capital Lease Payments Due in Year 3

0.0

-

-

-

-

Capital Lease Payments Due in Year 4

0.0

-

-

-

-

Capital Lease Payments Due in Year 5

0.0

-

-

-

-

Capital Lease Payments Due in 2-3 Years

0.0

-

-

-

-

Capital Lease Payments Due in 4-5 Years

0.0

-

-

-

-

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

Net Income/Starting Line

7.8

44.1

7.9

-1.9

-63.2

    Depreciation

27.4

23.7

22.4

28.9

50.7

Depreciation/Depletion

27.4

23.7

22.4

28.9

50.7

    Amortization of Intangibles

0.9

0.5

0.4

0.4

0.3

Amortization

0.9

0.5

0.4

0.4

0.3

Deferred Taxes

-

-

1.4

-

0.5

    Unusual Items

25.9

4.6

3.3

4.1

12.4

    Equity in Net Earnings (Loss)

-0.7

-0.5

0.1

-0.7

-3.2

    Other Non-Cash Items

16.2

0.0

9.5

2.5

34.6

Non-Cash Items

41.4

4.1

12.9

6.0

43.8

    Accounts Receivable

-17.3

-14.5

13.2

-23.4

4.5

    Inventories

-34.1

-12.7

-0.8

3.4

1.9

    Prepaid Expenses

-

-

0.2

0.1

0.5

    Other Assets

-1.1

-2.0

-0.2

2.0

-0.6

    Accounts Payable

-16.1

22.1

42.2

14.2

-13.3

    Accrued Expenses

-

-

-2.4

2.5

2.6

    Taxes Payable

-

-

-

0.5

-

    Other Liabilities

-7.1

-15.3

-5.2

-6.7

-6.5

    Other Operating Cash Flow

-0.1

-0.5

0.1

0.1

0.1

Changes in Working Capital

-75.9

-22.9

47.2

-7.3

-10.8

Cash from Operating Activities

1.6

49.5

92.3

26.2

21.4

 

 

 

 

 

 

    Purchase of Fixed Assets

-65.2

-56.7

-28.1

-23.7

-36.0

    Purchase/Acquisition of Intangibles

-7.2

0.0

-0.5

-0.7

-0.3

Capital Expenditures

-72.4

-56.7

-28.6

-24.4

-36.3

    Sale of Fixed Assets

6.3

3.4

0.7

5.9

1.3

    Sale/Maturity of Investment

2.4

7.5

2.2

38.6

87.0

    Purchase of Investments

-0.4

-3.2

-9.2

-1.0

-3.5

    Sale of Intangible Assets

-

-

-

0.5

-

    Other Investing Cash Flow

2.8

20.5

0.5

4.1

-12.5

Other Investing Cash Flow Items, Total

11.0

28.1

-5.7

48.1

72.3

Cash from Investing Activities

-61.4

-28.6

-34.3

23.7

36.0

 

 

 

 

 

 

    Other Financing Cash Flow

-8.5

-11.4

-18.9

-202.2

-0.5

Financing Cash Flow Items

-8.5

-11.4

-18.9

-202.2

-0.5

        Repurchase/Retirement of Common

-10.6

-

-

-

-

    Common Stock, Net

-10.6

-

-

-

-

    Options Exercised

0.4

-

-

-

-

Issuance (Retirement) of Stock, Net

-10.2

-

-

-

-

        Short Term Debt Issued

84.2

115.0

18.8

-

41.8

        Short Term Debt Reduction

-76.2

-97.9

-3.4

-17.9

-46.4

    Short Term Debt, Net

8.0

17.1

15.5

-17.9

-4.6

        Long Term Debt Issued

75.6

103.1

6.3

161.0

-

        Long Term Debt Reduction

-34.7

-122.1

-24.1

-

-52.2

    Long Term Debt, Net

40.9

-19.1

-17.8

161.0

-52.2

Issuance (Retirement) of Debt, Net

48.9

-1.9

-2.4

143.2

-56.8

Cash from Financing Activities

30.2

-13.3

-21.3

-59.1

-57.3

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.2

-

-

0.0

Net Change in Cash

-29.6

7.8

36.7

-9.2

0.1

 

 

 

 

 

 

Net Cash - Beginning Balance

81.3

70.2

23.3

36.3

42.9

Net Cash - Ending Balance

51.8

77.9

60.0

27.0

43.0

Cash Interest Paid

10.7

12.9

-

-

-

Cash Taxes Paid

-0.4

0.5

-

-

-

 

 

 

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

-

-

656.1

798.1

831.9

    Finished Goods Revenues

1,001.5

798.8

-

-

-

    Merchandise Sales

48.4

41.8

-

-

-

    Services Revenue

0.0

1.2

-

-

-

    Other Revenue

2.7

0.4

-

-

-

    Adjustment for Revenues

0.0

0.0

-

-

-

Total Revenue

1,052.6

842.3

656.1

798.1

831.9

 

 

 

 

 

 

    Cost-Revenue

923.3

721.2

569.4

700.8

763.1

    Salaries & Wages

14.3

12.3

8.9

8.7

9.8

    Other Payrolls

-

-

0.0

0.0

0.0

    Bonuses

-

-

1.5

1.5

1.8

    Retirement & Severance Benefits

1.1

1.5

1.7

1.7

1.5

    Employee Benefits

3.4

3.3

2.2

2.4

1.9

    Expense-Stock Compensation

-

-

0.8

0.6

-

    Travel Expense

3.0

2.2

1.6

2.0

2.3

    Communication Expense

-

-

0.3

0.3

0.4

    Utility Expenses

-

-

0.0

0.0

0.0

    Taxes & Dues

-

-

0.6

0.6

0.7

    Expense-Consumable Goods

-

-

0.3

0.4

0.3

    Printing Expense

-

-

0.1

0.1

0.1

    Rental Expenses

3.5

3.0

2.0

1.9

2.5

    Repair Expense

-

-

0.3

0.1

0.1

    Vehicles Maintenance Expense

-

-

0.2

0.3

0.3

    Insurance Expense

-

-

0.1

0.2

0.2

    Commission Paid

6.8

10.9

9.4

8.3

8.2

    Shipping & Handling Expense

20.7

19.3

15.8

20.2

19.6

    Entertainment Expense

-

-

1.0

1.1

1.2

    Packaging Expenses

-

-

0.0

0.1

0.0

    Sales Promotion Expense

-

-

0.8

0.6

0.6

    Advertising Expense

4.7

3.2

2.6

3.1

0.2

    Education & Training Expense

1.1

0.6

0.7

0.5

0.2

    Overseas Market Development Expense

-

-

0.0

0.0

0.0

    Expense-Samples

-

-

0.9

1.1

1.4

    Outsourcing Service Expense

2.0

1.3

0.9

1.0

1.2

    Activity Expense

-

-

0.2

0.2

0.1

    Conference Expense

-

-

0.4

0.5

0.4

    Quality-Control Expense

-

-

1.8

1.3

2.2

    Provision-Bad Debt

-

-

1.7

0.1

0.8

    Research Expense

-

-

4.6

3.1

1.4

    Research & Survey Expense

-

-

1.6

1.7

2.1

    Development Costs

9.2

9.2

2.1

1.8

1.3

    Depreciation Expense

1.4

0.5

0.3

0.4

0.5

    Amort of Intangibles

0.9

0.4

0.3

0.3

0.3

    Security Expense

-

-

0.0

0.0

0.0

    Defective Repair Expense

-

-

0.3

0.0

0.4

    Other Selling and Administrative Expense

19.6

9.5

-

0.0

-

    Adjustment for Selling and Administrativ

0.0

0.0

-

-

-

    Gain on Foreign Currency Transactions

-17.3

-14.1

-

-

-

    Gain on Foreign Currency Translation

-0.9

-0.6

-

-

-

    Gain on Disposal of Property, Plant and

-0.1

-0.6

-

-

-

    Recovery of Impairment Loss on Trade & O

-0.2

-

-

-

-

    Recovery of Provision for Product Warran

0.0

0.0

-

-

-

    Recovery of Provision for Defect Repair

0.0

-

-

-

-

    Gain on Assets Contributed

-

-0.2

-

-

-

    Miscellaneous Income

-1.5

-1.4

-

-

-

    Other Operating Income, Other

-

0.0

-

-

-

    Adjustment for Other Operating Income

0.0

0.0

-

-

-

    Loss on Foreign Currency Transactions

17.4

15.9

-

-

-

    Loss on Foreign Currency Translation

3.7

0.7

-

-

-

    Loss on Disposal of Property, Plant and

0.3

1.1

-

-

-

    Impairment Loss on Property, Plant and E

21.4

0.6

-

-

-

    Loss on Scrapping of Inventory

0.0

-

-

-

-

    Depreciation of Idle Assets not Operatio

0.1

0.5

-

-

-

    Impairment Loss on Trade & Other Receiva

0.0

2.8

-

-

-

    Donations Paid

0.1

0.0

-

-

-

    Miscellaneous Loss

1.2

0.8

-

-

-

    Other Operating Expense, Other

-

0.0

-

-

-

    Adjustment for Other Operating Expense

0.0

0.0

-

-

-

Total Operating Expense

1,039.3

804.0

635.6

767.2

827.2

 

 

 

 

 

 

    Interest Income

1.0

3.7

1.7

2.3

3.4

    Dividend Income

0.2

0.1

0.0

0.1

2.0

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Gains on Derivatives Transactions

-

0.1

-

-

-

    G-Inv.Asset Disposal

-

-

-

0.0

0.0

    Gain-Disposal of Sec. Available-Sale

-

-

0.6

-

-

    Gain-Foreign Exchange Transaction

-

-

21.0

21.0

5.2

    Gain-Foreign Currency Translation

-

-

1.3

2.9

0.2

    Gain on Valuations of Derivatives

0.9

-

-

-

-

    G-Reduction Loss of Sec. Avail-for-Sale

-

-

0.6

-

-

    G-Tang Asst Disposal

-

-

0.2

0.2

0.6

    Gain-Exemption of Debts

-

-

0.2

-

-

    Finance Guarantee Deposit Commission Inc

0.0

0.1

-

-

-

    Rental Income

-

-

0.0

0.0

-

    Rvrs-Bad Debt Expenses

-

-

0.9

2.9

1.3

    Recovery-Restructuring Reserve

-

-

-

2.5

-

    Recovery-Defect Repair Reserve

-

-

0.0

0.0

-

    Other Non-Op. Income

-

-

1.1

0.9

2.4

    Interest Expenses

-12.0

-13.6

-12.3

-15.0

-25.9

    Interest Capitalized

0.5

0.5

-

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

    Loss on Disposal of Financial Instrument

-0.2

-

-

-

-

    Loss-Foreign Exchange Transaction

-

-

-18.0

-40.3

-5.1

    Loss on Foreign Currency Translations

-0.7

-

-0.6

-2.1

-1.3

    L-Secs. for Sale Disposal

-

-

-0.3

-

-

    Impairment Loss on Financial Instruments

-

-0.6

-1.7

0.0

-12.0

    Loss-Reduction of Equity Method Sec.

-

-

-0.2

-

-

    Loss-Disposal of Accounts Receivable

-

-

-1.4

-1.9

-

    L-Tang.Asst Disposal

-

-

-0.6

-3.7

-1.1

    Financial Guarantee Expense

0.0

-

-

-

-

    Other Finance Expense

0.0

-1.4

-

-

-

    Other Amortization

-

-

0.0

-

0.0

    Donations Paid

-

-

-0.3

-0.1

-0.2

    Loss-Redemption of Borrowings

-

-

-0.3

-

-

    Amort-Suspend Assets

-

-

-0.7

-0.3

-1.2

    Other Non-Op Expense

-

-

-0.6

-0.8

-5.8

    Restructuring Expense

-

-

-

-

-28.5

    Loss-Disposal of Equity Method Sec.

-

-

-0.1

-

-

    Gain under Equity Method

-

-

0.3

1.1

3.2

    Loss under Equity Method

-

-

-0.4

-0.4

-

    Gain/Loss on Investments in Affiliates

0.6

0.5

-

-

-

Net Income Before Taxes

3.7

27.7

11.0

0.2

-58.0

 

 

 

 

 

 

Provision for Income Taxes

-2.5

-16.3

2.2

0.5

0.5

Net Income After Taxes

6.3

44.0

8.8

-0.3

-58.5

 

 

 

 

 

 

    Minority Interest Gain

-

-

0.0

-0.1

0.0

    Minority Interest

-0.4

0.2

-

-

-

Net Income Before Extra. Items

5.9

44.2

8.8

-0.4

-58.5

    Gain on Discontinued Operations

1.5

0.1

-0.9

-1.5

-4.7

Net Income

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Income Available to Com Excl E

5.9

44.2

8.8

-0.4

-58.5

 

 

 

 

 

 

Income Available to Com Incl E

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Basic Weighted Average Shares

472.0

474.4

470.9

470.3

470.3

Basic EPS Excluding ExtraOrdin

0.01

0.09

0.02

0.00

-0.12

Basic EPS Including ExtraOrdin

0.02

0.09

0.02

0.00

-0.13

Dilution Adjustment

0.0

0.0

0.0

0.0

-

Diluted Net Income

7.5

44.3

7.9

-1.9

-63.2

Diluted Weighted Average Share

472.0

474.4

470.9

470.3

470.3

Diluted EPS Excluding ExtraOrd

0.01

0.09

0.02

0.00

-0.12

Diluted EPS Including ExtraOrd

0.02

0.09

0.02

0.00

-0.13

DPS-Common Stock

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

25.2

31.6

12.8

5.6

-57.5

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

5.0

-14.9

2.5

2.4

0.7

Normalized Income After Taxes

20.2

46.5

10.3

3.2

-58.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.9

46.7

10.3

3.1

-58.2

 

 

 

 

 

 

Basic Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Diluted Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Interest Expense

11.5

13.2

12.3

15.0

25.9

Interest Capitalized

-0.5

-0.5

0.0

-0.3

-0.1

Rental Expense

3.5

3.0

2.0

1.9

2.5

Advertising Expense

4.7

3.2

3.3

3.8

0.9

R&D Expense, Supplemental

9.2

9.2

8.3

6.6

4.8

Depreciation

27.4

23.7

22.4

28.9

49.5

Amort of Intangibles, Suppleme

0.9

0.5

0.4

0.4

0.3

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

49.8

79.4

65.8

23.6

42.6

    Current Financial Deposits

0.1

1.8

-

-

-

    ST Finl Assets

-

-

9.5

0.7

6.1

    ST Investment Assets

-

-

0.5

0.7

0.3

    Current Securities Held-to-Maturities

0.1

0.0

-

-

-

    ST Loans

-

-

2.6

2.5

2.6

    Security Deposit

-

-

0.0

0.0

0.1

    Trade Receivables, Net

128.0

117.8

-

-

-

    Trade Rcvbls,G

-

-

83.6

89.1

104.5

    Allw-Doubtful Ac

-

-

-5.0

-3.6

-5.3

    Other Receivables

8.9

6.9

4.6

7.8

5.4

    Accrued Income

-

-

0.2

0.2

0.6

    Advance Payments

0.2

0.5

0.8

0.1

0.1

    Prepaid Expenses

1.7

1.5

0.8

1.0

1.4

    Receivable-Recovery of Taxes

0.1

0.9

0.3

0.5

0.8

    Prepaid Value Added Taxes

3.1

1.7

-

-

-

    Current Derivative Assets

0.0

-

-

-

-

    Adjustment for Other Current Assets

-

0.0

-

-

-

    Other Current Assets

-

-

1.3

1.1

1.3

    Merchandise

1.4

0.7

0.5

0.4

0.5

    Finished Goods

40.5

34.6

27.8

25.6

33.6

    Semi-finished Goods

18.2

13.6

10.1

8.8

14.3

    Works in Process

17.9

14.8

12.8

11.3

17.3

    Raw Materials

22.9

15.5

13.5

12.2

16.7

    Suppl. Material

-

-

2.6

2.4

2.2

    Raw Mat.Transit

-

-

3.5

3.8

5.2

    Supplemental Materials in Transit

-

-

0.2

-

-

    Residual Products

0.1

0.1

0.2

0.5

0.7

    Stored Goods

0.7

0.4

0.6

0.5

1.0

    Goods in Transit

-

-

0.0

1.6

0.9

    Inventory in Transit

13.7

4.3

-

-

-

    Other Inventories

0.0

3.4

-

-

-

    Adjustment for Inventories

0.0

0.0

-

-

-

Total Current Assets

307.3

297.7

237.1

191.0

252.8

 

 

 

 

 

 

    Non-Current Financial Deposits

0.3

0.1

-

-

-

    LT Finl Assets

-

-

0.0

0.0

0.0

    LT Invest Secs.

-

-

6.1

4.1

-

    Other Investment Assets

-

-

0.6

0.2

0.2

    Investment in Properties

2.9

3.3

-

-

-

    Non-Current Securities Available-for-Sal

0.6

2.2

-

-

42.8

    Non-Current Securities Held-to-Maturitie

2.2

2.4

-

-

1.7

    Investment in Affiliates

4.3

3.9

7.1

9.1

10.1

    Long-term Loans

-

-

0.0

0.8

0.0

    Long-term Non-trade Receivables

-

-

0.0

0.5

1.8

    Other Non-Current Receivables

7.5

6.7

-

-

-

    Non-Current Prepaid Expenses

0.0

-

-

-

-

    LT Guarantee Dep

-

-

4.2

2.6

2.1

    Non-Current Derivatives Assets

0.1

-

-

-

-

    Other Non-Current Assets

0.1

0.1

-

-

-

    Adjustment for Other Non-Current Assets

0.0

-

-

-

-

    Non-Current Deferred Income Taxes Assets

15.8

12.4

0.4

1.9

2.1

    Lands

63.0

62.4

78.4

73.8

104.0

    Buildings

118.1

114.0

114.1

107.4

124.9

    Buildings-Depreciation

-34.4

-31.9

-32.2

-28.2

-31.2

    Buildings-Reduction

-0.6

-0.6

-

-

-

    Structures

24.0

22.3

20.6

17.0

17.6

    Structures-Depreciation

-8.0

-7.2

-6.2

-5.2

-4.7

    Tools & Equipments

21.0

17.8

15.0

13.2

15.5

    Tools & Equipments-Depreciation

-15.3

-14.1

-12.3

-10.6

-12.2

    Tools & Equipments-Government Subsidy

-0.1

0.0

0.0

0.0

-

    Machineries & Equipments

527.6

486.0

456.0

415.4

518.5

    Machineries & Equipments-Depreciation

-394.5

-381.6

-367.3

-327.9

-404.6

    Machineries & Equipments-Government Subs

-0.3

-0.2

-0.1

-0.1

-

    Machineries & Equipments-Reduction

-20.6

-

-

-

-

    Vehicles

3.9

3.8

3.4

3.2

3.8

    Vehicles-Depreciation

-2.9

-2.8

-2.4

-2.2

-2.9

    Other Property Plant & Equipment

0.2

0.2

-

-

-

    Other Property Plant & Equipment-Depreci

-0.2

-0.2

-

-

-

    Construc in Prog

24.8

26.8

15.3

3.1

6.7

    Mach.In Transit

0.0

6.3

0.6

0.9

2.0

    Adjustment for Property, Plant & Equipme

-

-

-

-

-

    Membership Rights

1.1

1.0

1.0

0.9

1.8

    Industrial Property Rights

0.0

0.1

-

-

-

    Construction in Progress-Intangible Asse

5.2

1.7

0.7

-

-

    Software

3.6

1.0

1.3

1.0

1.0

    Other Intangible Assets

16.2

16.2

-

-

-

    Adjustment for Intangible Assets

-

-

-

-

-

Total Assets

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

    Current Trade Payables

87.6

107.8

90.3

40.4

40.1

    Accounts Payable

-

-

24.5

26.8

41.2

    Other Current Payables

49.7

43.7

-

-

-

    Income Taxes Payables

0.5

0.1

0.1

0.4

-

    Accrued Expenses

-

-

6.5

8.5

7.9

    Advance from Customers, Current Liabilit

4.0

4.7

1.5

1.0

1.5

    Unearned Income

-

-

1.1

0.2

-

    Deposit Withheld

1.1

1.3

1.2

0.9

2.1

    Lease Guarantee

-

-

2.6

2.5

3.7

    Sec Dep Withheld

-

-

0.0

0.0

0.0

    Value Added Taxes Withholdings

0.2

0.0

-

-

-

    Current Borrowings

90.4

82.7

34.3

16.2

42.6

    Current Derivatives Liabilities

0.3

1.2

-

-

-

    Finance Restructuring Reserve

-

-

-

-

7.2

    Reserve-Sales Guarantee

-

-

0.9

0.4

-

    Reserve for Current Liabilities

0.9

0.9

-

-

-

    Government Subsidy Related Liabilities

1.5

1.1

-

-

-

    Current Financial Guarantee Contract Lia

0.0

-

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

    Current Portion of Long-term Liabilities

26.4

30.9

17.2

15.1

236.0

    Current Financial Lease Liabilities

0.0

-

-

-

-

    Current Portion of Bonds

-

-

6.9

-

-

Total Current Liability

262.5

274.4

187.2

112.4

382.2

 

 

 

 

 

 

    Bonds

44.6

-

-

-

-

    Non-Current Borrowings

81.7

84.0

101.0

133.9

5.4

    Capital Leased Liabilities, LD

0.0

-

-

-

-

Total Long Term Debt

126.3

84.0

101.0

133.9

5.4

 

 

 

 

 

 

    Other Non-Current Payables

5.0

5.8

3.9

0.3

-

    Derivatives in Non-current Liabilities

0.7

0.3

-

-

-

    Financial Guarantee Contracts Liabilitie

-

0.0

-

-

-

    Deferred Income Taxes, Non-Current Liabi

0.1

0.0

-

-

-

    Rsv-Error Adjus.

-

-

0.3

0.1

0.2

    Non-Current Provisions

0.4

0.5

-

-

-

    Retirement Resrv

-

-

26.3

28.7

22.1

    Deposit-Retirement Insurance

-

-

-7.7

-9.7

-

    Transfer to National Pension Fund

-

-

-0.5

-0.7

-

    Non-Current Fixed Benefit Liabilities

9.0

8.9

-

-

-

    Minority Interests

2.0

1.6

1.4

2.2

1.8

Total Liabilities

406.0

375.6

311.9

267.1

411.8

 

 

 

 

 

 

    Common Stock

205.9

209.0

203.7

186.7

251.3

    Capital Surplus

-

-

32.1

29.7

40.7

    Stock Options

-

-

1.6

0.6

-

    Paid-in Capital in Excess of Par

-

-

3.4

-

-

    Retained Earning Carried Forward

-

-

-21.9

-28.2

-58.5

    Retained Earnings or Accumulated Deficit

69.0

64.1

-

-

-

    Unissu Share Cap

-

-

-

5.1

6.8

    Gain-Valu. of Sec. Available for Sale

-

-

-

0.5

-

    Loss-Secs for Sale Valuation

-

-

0.0

-1.7

-2.2

    Negative Capital Change U/ Equity Mtd.

-

-

-0.7

-12.4

-0.4

    Positive Capital Change U/ Equity Mtd.

-0.1

-0.1

-

-

0.1

    Treasury Stock

-

-

0.0

0.0

0.0

    Overseas Business Translation Credit

-

-

11.2

24.8

4.3

    Overseas Business Translation Debit/Cred

0.3

-0.3

-

-

-

    Gain/Losses on Valuation of Derivatives

-1.5

-1.3

-

-

-

    Other Capital Items

-6.7

2.7

-

-

-

    Adjustment for Accumulated Other Compreh

-

-

-

-

-

Total Equity

267.1

274.1

229.4

205.1

242.1

 

 

 

 

 

 

Total Liabilities & Shareholde

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

    S/O-Common Stock

474.5

474.4

474.4

470.3

470.3

Total Common Shares Outstandin

474.5

474.4

474.4

470.3

470.3

T/S-Common Stock

-

0.0

0.0

0.0

0.0

Accumulated Intangible Amortization

3.1

2.3

1.4

1.0

0.9

Deferred Revenue, Current

4.0

4.7

2.6

1.2

1.5

Full-Time Employees

1,178

1,028

1,047

1,095

1,086

Number of Common Shareholders

-

19,045

17,542

6,348

5,812

Long-Term Debts Due in 1 Year

26.4

-

17.3

15.1

236.0

Long-Term Debts Due in 2 Years

42.6

-

21.6

15.9

-

Long-Term Debts Due in 3 Years

74.3

-

25.9

20.0

-

Long-Term Debts Due in 4 Years

3.5

-

51.2

24.0

-

Long-Term Debts Due in 5 Years

1.2

-

0.2

71.6

-

Long-Term Debts Due Remaining

5.0

-

1.2

1.3

-

Total Long Term Debt, Supplemental

153.0

-

117.5

147.9

236.0

Capital Lease Due in 1 Year

0.0

-

-

-

-

Capital Lease Due in 5 Years

0.0

-

-

-

-

Interest Costs

0.0

-

-

-

-

Total Capital Leases

0.0

-

-

-

-

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

7.8

44.1

7.9

-1.9

-63.2

    Depreciation

27.4

23.7

22.4

28.9

50.7

    Amort.-Intangible

0.9

0.5

0.4

0.4

0.3

    Stock Compensation Expense

0.5

1.0

0.9

0.6

-

    Amort-Bad Debt Exp

-

-

2.1

0.7

0.4

    Amort-Otr Bad Debt E

-

-

0.0

0.0

0.0

    Rvrs-Bad Debt Expenses

-

-

-0.9

-2.9

-1.3

    Amortization-Present Value Discount, ON

-

-

-0.1

-0.2

-0.2

    Finance Guarantee Deposit Commission Inc

0.0

-0.1

-

-

-

    Dividend Income

-0.2

-0.1

-

-

-

    Interest Income

-1.0

-3.7

-

-

-

    Interest Expenses

11.5

13.4

2.3

1.0

0.0

    Corporate Taxes Expense,OP

1.1

0.0

-

-

-

    Corporate Taxes Expense, ON

-3.6

-16.3

-

-

-

    Financial Guarantee Expense

0.0

-

-

-

-

    Other Financial Expense

0.0

1.4

-

-

-

    Payment for Retirement Allowance, ONCI

4.1

4.4

4.7

5.9

6.1

    Defect Repair Expense

-

-

0.3

0.0

-

    Recovery-Defect Repair Reserve

0.0

-0.1

0.0

0.0

-

    Quality-Control Expense

-

-

0.5

0.5

-

    Sales Guarantee Expense

0.8

0.0

-

-

-

    Recovery of Provision for Sales Guarante

0.0

0.0

-

-

-

    Restructuring Expense

-

-

-

-

28.5

    Gain-Assets Contributed, ON

-

-0.2

-

-

-

    Gains on Valuations of Derivatives Asset

-0.9

-

-

-

-

    L-For Exch Translatn

4.4

0.7

0.6

2.1

1.3

    Miscellaneous Loss

-

0.2

-

-

-

    Recovery-Restructuring Reserve

-

-

-

-2.5

-

    Loss-Disposal of Trade Receivable

-

-

1.4

-

-

    Loss on Disposal of Investment in Affili

0.2

-

0.1

-

-

    Loss on Disposal of Property, Plant and

0.3

1.1

0.6

3.7

1.0

    Loss on Disposal of Financial Assets Ava

0.2

-

0.3

-

-

    L-Inventory Disposal

4.2

0.2

0.3

0.5

-

    Loss-Reduct. of Sec. under Equity Method

-

-

0.2

-

-

    Loss-Reduct. of Sec. Available-for-Sale

-

0.6

1.7

-

12.0

    Impairment Loss on Trade & Other Recevia

0.0

2.8

-

-

-

    L-Tangible Asst Valu

21.4

0.6

-

0.1

-

    Loss -Redemption of LT Borrowings

-

-

0.3

-

-

    Loss under Equity Method

-

-

0.4

0.4

-

    Gain-Disp. of Security Avail-for-Sale

-

-

-0.6

-

-

    G-Inv.Asset Disp

-

-

-

0.0

0.0

    Gain on Disposal of Property, Plant and

-0.1

-0.6

-0.2

-0.2

-0.5

    Recovery-Sec. Avail-for-Sale Reduction

-

-

-0.6

-

-

    Recovery-Inventory Valuation Loss

-

-

-

-

-0.1

    Recovery of Impairment Loss on Trade & O

-0.2

-

-

-

-

    Recovery of Losses on Valuation of Inven

0.0

-0.1

-

-

-

    Gain under Equity Method

-0.7

-0.5

-0.3

-1.1

-3.2

    G-For Exch Translatn

-0.9

-0.6

-0.9

-2.8

-0.2

    Dividend Received from Affiliates

-

-

0.1

0.1

0.1

    Gain-Debt Exemption

-

-

-0.2

-

-

    Trade Receivables

-14.4

-13.0

8.9

-19.7

6.0

    Accrued Income

-

-

0.0

0.6

0.1

    Other Receivables

-3.0

-1.5

4.1

-4.4

-1.8

    Prepaid Expenses

-

-

0.2

0.1

0.5

    Advance Payments

-

-

-0.6

-0.1

0.0

    Inventory

-34.1

-12.7

-0.2

3.5

1.9

    Corporate Tax Refundable

-

-

0.3

0.1

0.2

    Accrued Income Taxes

-

-

-

0.5

-

    Increase-Security Deposit

-

-

0.0

0.1

0.7

    Other Current Assets

-1.5

-0.3

-0.2

1.9

-1.3

    Other Non-Current Assets

0.3

-1.7

-

-

-

    Trade Payables

-20.5

11.7

41.2

16.9

-10.3

    Other Payables

4.6

11.0

-3.1

-3.1

-3.0

    Other Non-current Payables

-0.2

-0.5

-

-

-

    Lease Guarantee

-

-

0.0

-0.3

-0.1

    Unearned Income

-

-

1.0

0.2

-

    Accrued Expenses

-

-

-2.4

2.5

2.6

    LT Account Payable

-

-

4.1

0.4

-

    Advances Received

-

-

0.0

-0.2

-3.0

    Deposits Withheld

-

-

0.1

-2.5

0.1

    Security Deposit Withheld

-

-

-

-

-0.1

    Provisions

-0.8

-0.3

-

-

-

    Deferred Taxes-Asset

-

-

1.4

-

0.5

    Other Current Liabilities

-0.8

0.2

-

-

-

    Rsv-Error Adjustment

-

-

-0.1

0.0

-0.6

    Nation Pension Fnd

-

-

0.2

0.2

0.1

    Retiremt Allow Paymt

-

-

-8.9

-5.2

-4.0

    Retirement Insurance

-

-

2.5

1.1

1.0

    Fixed Benefit Liabilities

-5.5

-15.2

-

-

-

    Corporate Taxes Refund

0.5

-

-

-

-

    Cash-Tax Paid

-0.1

-0.5

-

-

-

Cash From Operating Activities

1.6

49.5

92.3

26.2

21.4

 

 

 

 

 

 

    Decrease in Financial Deposit

1.7

9.8

-

-

-

    Proceeds from Sale of Short-term Financi

-

-

-

4.4

3.5

    Dec-LT Finl Asset

-

-

-

0.0

0.0

    Dec-ST Loans

-

-

1.4

1.0

0.7

    Dec-LT Loans

-

-

0.9

4.0

3.2

    Decrease in Other Receivables

0.9

3.0

-

-

-

    Decrease in Other Non-Current Receivable

0.2

5.8

-

1.1

1.3

    Decrease-Guarantee Deposit

-

-

0.3

0.2

0.4

    Decrease-Investment Securities

-

-

1.5

33.9

0.0

    Decrease-Investment Real Estate

-

-

-

-

82.7

    Disposal-ST Investment Assets

-

-

0.7

0.3

0.7

    Disp-Other Investment Assets

-

-

0.1

-

-

    Disposal of Securities Available-for-Sal

1.5

-

-

-

-

    Disposal of Financial Assets Held to Mat

0.0

7.5

-

-

-

    Disposal of Investment in Subsidiaries

0.9

-

-

-

-

    Disp-Land

-

-

0.2

5.3

0.3

    Disposal of Building

-

-

0.2

0.3

0.0

    Disp-Structure

-

-

0.0

-

0.0

    Disp-Machinery

-

-

0.2

0.3

1.0

    Disp-Vehicles

-

-

0.1

0.0

0.0

    Disp-Tools/Equipmt

-

-

0.0

0.0

0.0

    Disposal of Property, Plant and Equipmen

6.3

3.4

-

-

-

    Decrease-Membership Right

-

-

-

0.5

-

    Inc-ST Finl Asset

-0.4

-2.0

-8.0

-

-3.2

    Inc-ST Loans

-

-

-0.5

-0.7

-0.6

    Increase in Other Receivables

-0.3

-0.4

-

-

-

    Increase in Other Non-Current Receivable

-1.0

-1.8

-

-

-

    Increase-Guarantee Deposit

-

-

-1.6

-1.4

-0.5

    Increase-Investment Securities

-

-

-1.2

-1.0

-0.3

    Inc-Secs Maturity

0.0

-1.2

-

-

-

    Acq-Building

-

-

-0.4

-0.1

-0.1

    Acq-Structure

-

-

-0.2

-0.3

-0.1

    Acq-Machinery

-

-

-3.8

-5.0

-4.0

    Acq-Vehicles

-

-

-0.3

-0.7

-0.6

    Acq-Tools/Equipmt

-

-

-1.0

-1.3

-0.6

    Acq-Constructn Prog

-

-

-17.4

-12.7

-26.1

    Acq-Mach. In Transit

-

-

-5.1

-3.7

-4.4

    Purchase of Property, Plant and Equipmen

-65.2

-56.7

-

-

-

    Acq-Software

-

-

-0.5

-0.7

-0.3

    Purchase of Intangible Assets

-7.2

0.0

-

-

-

    Decrease-Restructuring Reserve

-

-

-

-

-16.9

    Cash Interest Received

1.0

3.9

-

-

-

    Dividend Received

0.3

0.2

-

-

-

Cash From Investing Activities

-61.4

-28.6

-34.3

23.7

36.0

 

 

 

 

 

 

    Increase in Current Borrowings

84.2

115.0

18.8

-

41.8

    Increase in Non-Current Borrowings

29.9

103.1

-

161.0

-

    Increase in Bonds

45.7

-

-

-

-

    Increase-Current Portion of Bond

-

-

6.3

-

-

    Incr-Oversea Trns Cr

-

-

-

0.1

-

    Increase in Government Subsidy

2.1

1.5

-

-

-

    Dec-Curr LT Liabs

-

-

-18.7

-201.3

-0.5

    Decrease in Current Borrowings

-76.2

-97.9

-3.4

-17.9

-46.4

    Decrease-Current Portion of Bond

0.0

-5.6

-

-

-

    Decrease in Non-Current Borrowings

-3.1

-99.3

-24.0

-

-42.1

    Decrease in Current Portion of Long-Term

-31.6

-17.3

-

-

-

    Redemption-Bond

-

-

-

-

-10.1

    Increase in Treasury Stocks

-10.6

-

-

-

-

    Increase-Stock Option

-

-

0.0

-

-

    Net Change in Other Cash

-

-

-0.1

-1.1

-

    Exercise of Stocks Options

0.4

-

-

-

-

    Redemption-Debt for Equity Swap

-

-

-0.1

-

-

    Cash Interest Paid

-10.7

-12.9

-

-

-

Cash From Financing Activities

30.2

-13.3

-21.3

-59.1

-57.3

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.2

-

-

0.0

Net Change in Cash

-29.6

7.8

36.7

-9.2

0.1

 

 

 

 

 

 

Net Cash Beginning Balance

81.3

70.2

23.3

36.3

42.9

Net Cash Ending Balance

51.8

77.9

60.0

27.0

43.0

    Cash Interest Paid

10.7

12.9

-

-

-

    Cash Taxes Paid

-0.4

0.5

-

-

-

 

 

Financial Health

 

Financials in: USD (mil) 

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

 

Key Indicators USD (mil)

 

Quarter
Ending

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2011

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

-

-

1,052.6

19.74%

9.91%

9.29%

Research & Development1

-

-

9.2

-3.92%

12.30%

27.02%

Operating Income1

-

-

13.4

-66.54%

-24.27%

-

Income Available to Common Excl Extraord Items1

-

-

5.9

-87.18%

-

-

Basic EPS Excl Extraord Items1

-

-

0.01

-87.11%

-

-

Capital Expenditures2

-

-

72.4

22.38%

44.00%

12.32%

Cash from Operating Activities2

-

-

1.6

-96.84%

-60.23%

-

Free Cash Flow

-

-

-68.1

-

-

-

Total Assets3

-

-

673.1

5.16%

9.24%

-3.00%

Total Liabilities3

-

-

406.0

9.72%

11.60%

-5.47%

Total Long Term Debt3

-

-

126.3

52.66%

-4.81%

-11.62%

Employees3

-

-

1178

14.59%

2.47%

0.84%

Total Common Shares Outstanding3

-

-

474.5

0.01%

0.29%

0.17%

1-ExchangeRate: KRW to USD Average for Period

 

 

1107.891393

 

 

 

2-ExchangeRate: KRW to USD Average for Period

 

 

1107.891393

 

 

 

3-ExchangeRate: KRW to USD Period End Date

 

 

1152.000000

 

 

 

 

Key Ratios

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Profitability

Gross Margin

12.06%

14.33%

13.22%

12.19%

8.27%

Operating Margin

1.27%

4.54%

3.12%

3.88%

0.57%

Pretax Margin

0.36%

3.29%

1.67%

0.03%

-6.97%

Net Profit Margin

0.56%

5.25%

1.35%

-0.05%

-7.03%

Financial Strength

Current Ratio

1.17

1.08

1.27

1.70

0.66

Long Term Debt/Equity

0.47

0.31

0.44

0.65

0.02

Total Debt/Equity

0.91

0.72

0.69

0.81

1.17

Interest Coverage

20,003,768.58

92,180,715.31

-

-

-

Management Effectiveness

Return on Assets

0.92%

7.43%

1.84%

-0.06%

-7.17%

Return on Equity

2.12%

17.68%

4.29%

-0.17%

-21.31%

Efficiency

Receivables Turnover

7.77

8.02

7.54

7.86

7.46

Inventory Turnover

8.79

9.04

8.58

9.01

8.15

Asset Turnover

1.54

1.42

1.37

1.46

1.02

 

           

Market Valuation USD (mil)

Enterprise Value2

478.8

.

Enterprise Value/Revenue (TTM)

0.47

Enterprise Value/EBITDA (TTM)

11.12

.

Market Cap1

282.7

1-ExchangeRate: KRW to USD on 27-Jul-2012

1146.394547

 

 

 

2-ExchangeRate: KRW to USD on 27-Jul-2012

1146.394547

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual Ratios

 

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

Financial Strength

Current Ratio

1.17

1.08

1.27

1.70

0.66

Quick/Acid Test Ratio

0.71

0.75

0.87

1.08

0.41

Working Capital1

44.8

23.2

49.8

78.6

-129.4

Long Term Debt/Equity

0.47

0.31

0.44

0.65

0.02

Total Debt/Equity

0.91

0.72

0.69

0.81

1.17

Long Term Debt/Total Capital

0.25

0.18

0.26

0.36

0.01

Total Debt/Total Capital

0.48

0.42

0.41

0.45

0.54

Interest Coverage

20,003,768.58

92,180,715.31

-

-

-

Payout Ratio

0.00%

0.00%

0.00%

0.00%

0.00%

Effective Tax Rate

-67.24%

-58.78%

19.60%

257.69%

-

Total Capital1

510.2

471.6

388.8

370.3

526.0

 

 

 

 

 

 

Efficiency

Asset Turnover

1.54

1.42

1.37

1.46

1.02

Inventory Turnover

8.79

9.04

8.58

9.01

8.15

Days In Inventory

41.54

40.37

42.56

40.49

44.77

Receivables Turnover

7.77

8.02

7.54

7.86

7.46

Days Receivables Outstanding

46.99

45.54

48.44

46.41

48.90

Revenue/Employee2

859,358

834,796

686,838

636,889

760,393

Operating Income/Employee2

10,908

37,925

21,443

24,716

4,308

EBITDA/Employee2

34,043

61,895

45,305

48,094

49,854

 

 

 

 

 

 

Profitability

Gross Margin

12.06%

14.33%

13.22%

12.19%

8.27%

Operating Margin

1.27%

4.54%

3.12%

3.88%

0.57%

EBITDA Margin

3.96%

7.41%

6.60%

7.55%

6.56%

EBIT Margin

1.27%

4.54%

3.12%

3.88%

0.57%

Pretax Margin

0.36%

3.29%

1.67%

0.03%

-6.97%

Net Profit Margin

0.56%

5.25%

1.35%

-0.05%

-7.03%

R&D Expense/Revenue

0.88%

1.09%

1.27%

0.82%

0.58%

COGS/Revenue

87.71%

85.63%

86.78%

87.81%

91.73%

SG&A Expense/Revenue

7.62%

7.98%

8.73%

7.41%

7.03%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

0.92%

7.43%

1.84%

-0.06%

-7.17%

Return on Equity

2.12%

17.68%

4.29%

-0.17%

-21.31%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

-0.14

-0.02

0.15

0.00

-0.03

Operating Cash Flow/Share 2

0.00

0.11

0.21

0.05

0.05

1-ExchangeRate: KRW to USD Period End Date

1152

1134.9

1164.475

1259.55

936.05

2-ExchangeRate: KRW to USD Average for Period

1152

1134.9

1164.475

1259.55

936.05

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Net Sales

1,050.0

841.9

656.1

798.1

831.9

Revenue

1,050.0

841.9

656.1

798.1

831.9

    Other Revenue

2.7

0.4

-

-

-

Other Revenue, Total

2.7

0.4

-

-

-

Total Revenue

1,052.6

842.3

656.1

798.1

831.9

 

 

 

 

 

 

    Cost of Revenue

923.3

721.2

569.4

700.8

763.1

Cost of Revenue, Total

923.3

721.2

569.4

700.8

763.1

Gross Profit

126.7

120.7

86.7

97.3

68.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

56.8

46.9

38.9

40.5

42.6

    Labor & Related Expense

18.7

17.1

15.1

14.9

15.1

    Advertising Expense

4.7

3.2

3.3

3.8

0.9

Total Selling/General/Administrative Expenses

80.2

67.2

57.3

59.1

58.5

Research & Development

9.2

9.2

8.3

6.6

4.8

    Depreciation

1.5

1.0

0.3

0.4

0.5

    Amortization of Intangibles

0.9

0.4

0.3

0.3

0.3

Depreciation/Amortization

2.4

1.4

0.6

0.6

0.8

        Investment Income - Operating

2.9

1.9

-

-

-

    Interest/Investment Income - Operating

2.9

1.9

-

-

-

Interest Expense (Income) - Net Operating Total

2.9

1.9

-

-

-

    Impairment-Assets Held for Use

21.2

3.4

-

-

-

    Loss (Gain) on Sale of Assets - Operating

0.3

0.5

-

-

-

Unusual Expense (Income)

21.5

3.9

-

-

-

    Other Operating Expense

1.3

0.9

-

-

-

    Other, Net

-1.5

-1.6

-

-

-

Other Operating Expenses, Total

-0.2

-0.8

-

-

-

Total Operating Expense

1,039.3

804.0

635.6

767.2

827.2

 

 

 

 

 

 

Operating Income

13.4

38.3

20.5

31.0

4.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-12.0

-13.6

-12.3

-15.0

-25.9

        Interest Capitalized - Non-Operating

0.5

0.5

-

-

-

    Interest Expense, Net Non-Operating

-11.5

-13.2

-12.3

-15.0

-25.9

        Interest Income - Non-Operating

1.0

3.7

1.7

2.3

3.4

        Investment Income - Non-Operating

0.8

0.2

2.3

-17.8

-7.8

    Interest/Investment Income - Non-Operating

1.9

3.8

4.0

-15.5

-4.4

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-9.6

-9.3

-8.3

-30.5

-30.3

Gain (Loss) on Sale of Assets

-

-

-1.9

-5.4

-0.5

    Other Non-Operating Income (Expense)

0.0

-1.2

0.6

5.1

-31.9

Other, Net

0.0

-1.2

0.6

5.1

-31.9

Income Before Tax

3.7

27.7

11.0

0.2

-58.0

 

 

 

 

 

 

Total Income Tax

-2.5

-16.3

2.2

0.5

0.5

Income After Tax

6.3

44.0

8.8

-0.3

-58.5

 

 

 

 

 

 

    Minority Interest

-0.4

0.2

0.0

-0.1

0.0

Net Income Before Extraord Items

5.9

44.2

8.8

-0.4

-58.5

    Discontinued Operations

1.5

0.1

-0.9

-1.5

-4.7

Total Extraord Items

1.5

0.1

-0.9

-1.5

-4.7

Net Income

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

5.9

44.2

8.8

-0.4

-58.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

472.0

474.4

470.9

470.3

470.3

Basic EPS Excl Extraord Items

0.01

0.09

0.02

0.00

-0.12

Basic/Primary EPS Incl Extraord Items

0.02

0.09

0.02

0.00

-0.13

Dilution Adjustment

0.0

0.0

0.0

0.0

-

Diluted Net Income

7.5

44.3

7.9

-1.9

-63.2

Diluted Weighted Average Shares

472.0

474.4

470.9

470.3

470.3

Diluted EPS Excl Extraord Items

0.01

0.09

0.02

0.00

-0.12

Diluted EPS Incl Extraord Items

0.02

0.09

0.02

0.00

-0.13

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Interest Expense, Supplemental

11.5

13.2

12.3

15.0

25.9

Interest Capitalized, Supplemental

-0.5

-0.5

0.0

-0.3

-0.1

Depreciation, Supplemental

27.4

23.7

22.4

28.9

49.5

Total Special Items

21.5

3.9

1.9

5.4

0.5

Normalized Income Before Tax

25.2

31.6

12.8

5.6

-57.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

7.5

1.4

0.4

1.9

0.2

Inc Tax Ex Impact of Sp Items

5.0

-14.9

2.5

2.4

0.7

Normalized Income After Tax

20.2

46.5

10.3

3.2

-58.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.9

46.7

10.3

3.1

-58.2

 

 

 

 

 

 

Basic Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Diluted Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Amort of Intangibles, Supplemental

0.9

0.5

0.4

0.4

0.3

Rental Expenses

3.5

3.0

2.0

1.9

2.5

Advertising Expense, Supplemental

4.7

3.2

3.3

3.8

0.9

Research & Development Exp, Supplemental

9.2

9.2

8.3

6.6

4.8

Normalized EBIT

37.7

44.0

20.5

31.0

4.7

Normalized EBITDA

66.0

68.2

43.3

60.3

54.5

 

 

 

Interim Income Statement

 

Financials in: USD (mil)                                                                

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

No Financial Data

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Cash & Equivalents

49.9

81.2

65.8

23.6

42.6

    Short Term Investments

0.1

0.0

10.0

1.4

6.4

Cash and Short Term Investments

50.0

81.2

75.8

25.0

49.1

        Accounts Receivable - Trade, Gross

-

-

83.6

89.1

104.5

        Provision for Doubtful Accounts

-

-

-5.0

-3.6

-5.3

    Trade Accounts Receivable - Net

128.0

117.8

78.8

85.7

99.9

    Other Receivables

9.0

7.8

7.5

10.9

8.8

Total Receivables, Net

137.0

125.5

86.4

96.6

108.7

    Inventories - Finished Goods

41.9

35.3

28.3

26.0

34.0

    Inventories - Work In Progress

36.1

28.4

22.9

20.1

31.5

    Inventories - Raw Materials

23.0

15.6

20.1

18.8

24.8

    Inventories - Other

14.6

8.5

1.4

2.2

2.0

Total Inventory

115.6

87.8

72.8

67.2

92.3

Prepaid Expenses

4.8

3.1

0.8

1.0

1.4

    Other Current Assets

0.0

0.0

1.4

1.1

1.3

Other Current Assets, Total

0.0

0.0

1.4

1.1

1.3

Total Current Assets

307.3

297.7

237.1

191.0

252.8

 

 

 

 

 

 

        Buildings

141.5

135.7

134.7

124.4

142.5

        Land/Improvements

63.0

62.4

78.4

73.8

104.0

        Machinery/Equipment

531.5

507.3

474.3

431.8

537.8

        Construction in Progress

24.8

33.0

16.0

4.1

8.7

        Other Property/Plant/Equipment

0.2

0.2

-

-

-

    Property/Plant/Equipment - Gross

761.1

738.6

703.4

634.1

793.0

    Accumulated Depreciation

-455.3

-437.7

-420.5

-374.1

-455.6

Property/Plant/Equipment - Net

305.7

300.9

282.9

260.0

337.4

Intangibles, Net

26.1

20.1

2.9

2.0

2.8

    LT Investment - Affiliate Companies

4.3

3.9

7.1

9.1

10.1

    LT Investments - Other

6.1

8.0

6.7

4.4

44.7

Long Term Investments

10.4

11.9

13.8

13.5

54.8

Note Receivable - Long Term

7.5

6.7

0.0

1.4

1.8

    Deferred Income Tax - Long Term Asset

15.8

12.4

0.4

1.9

2.1

    Other Long Term Assets

0.2

0.1

4.2

2.6

2.1

Other Long Term Assets, Total

16.1

12.5

4.7

4.5

4.1

Total Assets

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

Accounts Payable

87.6

107.8

90.3

40.4

40.1

Accrued Expenses

0.2

0.0

6.5

8.5

7.9

Notes Payable/Short Term Debt

90.4

82.7

34.3

16.2

42.6

Current Portion - Long Term Debt/Capital Leases

26.4

30.9

24.0

15.1

236.0

    Customer Advances

4.0

4.7

2.6

1.2

1.5

    Security Deposits

-

-

2.7

2.5

3.7

    Income Taxes Payable

0.5

0.1

0.1

0.4

-

    Other Payables

49.7

43.7

24.5

26.8

41.2

    Other Current Liabilities

3.8

4.5

2.2

1.3

9.3

Other Current liabilities, Total

58.0

53.0

32.0

32.3

55.6

Total Current Liabilities

262.5

274.4

187.2

112.4

382.2

 

 

 

 

 

 

    Long Term Debt

126.3

84.0

101.0

133.9

5.4

    Capital Lease Obligations

0.0

-

-

-

-

Total Long Term Debt

126.3

84.0

101.0

133.9

5.4

Total Debt

243.1

197.6

159.4

165.2

283.9

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.1

0.0

-

-

-

Deferred Income Tax

0.1

0.0

-

-

-

Minority Interest

2.0

1.6

1.4

2.2

1.8

    Reserves

0.4

0.5

0.3

0.1

0.2

    Pension Benefits - Underfunded

9.0

8.9

18.0

18.2

22.1

    Other Long Term Liabilities

5.7

6.1

3.9

0.3

-

Other Liabilities, Total

15.1

15.6

22.3

18.6

22.4

Total Liabilities

406.0

375.6

311.9

267.1

411.8

 

 

 

 

 

 

    Common Stock

205.9

209.0

203.7

186.7

251.3

Common Stock

205.9

209.0

203.7

186.7

251.3

Additional Paid-In Capital

-

-

37.1

30.3

40.7

Retained Earnings (Accumulated Deficit)

69.0

64.1

-21.9

-28.2

-58.5

Treasury Stock - Common

-

-

0.0

0.0

0.0

Unrealized Gain (Loss)

-0.1

-0.1

-0.7

-13.5

-2.5

    Translation Adjustment

0.3

-0.3

11.2

24.8

4.3

    Other Equity

-6.7

2.7

-

5.1

6.8

    Other Comprehensive Income

-1.5

-1.3

-

-

-

Other Equity, Total

-7.8

1.1

11.2

29.9

11.1

Total Equity

267.1

274.1

229.4

205.1

242.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

474.5

474.4

474.4

470.3

470.3

Total Common Shares Outstanding

474.5

474.4

474.4

470.3

470.3

Treasury Shares - Common Stock Primary Issue

-

0.0

0.0

0.0

0.0

Employees

1,178

1,028

1,047

1,095

1,086

Number of Common Shareholders

-

19,045

17,542

6,348

5,812

Accumulated Intangible Amort, Suppl.

3.1

2.3

1.4

1.0

0.9

Deferred Revenue - Current

4.0

4.7

2.6

1.2

1.5

Total Long Term Debt, Supplemental

153.0

-

117.5

147.9

236.0

Long Term Debt Maturing within 1 Year

26.4

-

17.3

15.1

236.0

Long Term Debt Maturing in Year 2

42.6

-

21.6

15.9

-

Long Term Debt Maturing in Year 3

74.3

-

25.9

20.0

-

Long Term Debt Maturing in Year 4

3.5

-

51.2

24.0

-

Long Term Debt Maturing in Year 5

1.2

-

0.2

71.6

-

Long Term Debt Maturing in 2-3 Years

116.9

-

47.6

35.9

-

Long Term Debt Maturing in 4-5 Years

4.7

-

51.4

95.6

-

Long Term Debt Matur. in Year 6 & Beyond

5.0

-

1.2

1.3

0.0

    Interest Costs

0.0

-

-

-

-

Total Capital Leases, Supplemental

0.0

-

-

-

-

Capital Lease Payments Due in Year 1

0.0

-

-

-

-

Capital Lease Payments Due in Year 2

0.0

-

-

-

-

Capital Lease Payments Due in Year 3

0.0

-

-

-

-

Capital Lease Payments Due in Year 4

0.0

-

-

-

-

Capital Lease Payments Due in Year 5

0.0

-

-

-

-

Capital Lease Payments Due in 2-3 Years

0.0

-

-

-

-

Capital Lease Payments Due in 4-5 Years

0.0

-

-

-

-

 

 

Interim Balance Sheet

 

Financials in: USD (mil) 

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

 

No Financial Data

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

Net Income/Starting Line

7.8

44.1

7.9

-1.9

-63.2

    Depreciation

27.4

23.7

22.4

28.9

50.7

Depreciation/Depletion

27.4

23.7

22.4

28.9

50.7

    Amortization of Intangibles

0.9

0.5

0.4

0.4

0.3

Amortization

0.9

0.5

0.4

0.4

0.3

Deferred Taxes

-

-

1.4

-

0.5

    Unusual Items

25.9

4.6

3.3

4.1

12.4

    Equity in Net Earnings (Loss)

-0.7

-0.5

0.1

-0.7

-3.2

    Other Non-Cash Items

16.2

0.0

9.5

2.5

34.6

Non-Cash Items

41.4

4.1

12.9

6.0

43.8

    Accounts Receivable

-17.3

-14.5

13.2

-23.4

4.5

    Inventories

-34.1

-12.7

-0.8

3.4

1.9

    Prepaid Expenses

-

-

0.2

0.1

0.5

    Other Assets

-1.1

-2.0

-0.2

2.0

-0.6

    Accounts Payable

-16.1

22.1

42.2

14.2

-13.3

    Accrued Expenses

-

-

-2.4

2.5

2.6

    Taxes Payable

-

-

-

0.5

-

    Other Liabilities

-7.1

-15.3

-5.2

-6.7

-6.5

    Other Operating Cash Flow

-0.1

-0.5

0.1

0.1

0.1

Changes in Working Capital

-75.9

-22.9

47.2

-7.3

-10.8

Cash from Operating Activities

1.6

49.5

92.3

26.2

21.4

 

 

 

 

 

 

    Purchase of Fixed Assets

-65.2

-56.7

-28.1

-23.7

-36.0

    Purchase/Acquisition of Intangibles

-7.2

0.0

-0.5

-0.7

-0.3

Capital Expenditures

-72.4

-56.7

-28.6

-24.4

-36.3

    Sale of Fixed Assets

6.3

3.4

0.7

5.9

1.3

    Sale/Maturity of Investment

2.4

7.5

2.2

38.6

87.0

    Purchase of Investments

-0.4

-3.2

-9.2

-1.0

-3.5

    Sale of Intangible Assets

-

-

-

0.5

-

    Other Investing Cash Flow

2.8

20.5

0.5

4.1

-12.5

Other Investing Cash Flow Items, Total

11.0

28.1

-5.7

48.1

72.3

Cash from Investing Activities

-61.4

-28.6

-34.3

23.7

36.0

 

 

 

 

 

 

    Other Financing Cash Flow

-8.5

-11.4

-18.9

-202.2

-0.5

Financing Cash Flow Items

-8.5

-11.4

-18.9

-202.2

-0.5

        Repurchase/Retirement of Common

-10.6

-

-

-

-

    Common Stock, Net

-10.6

-

-

-

-

    Options Exercised

0.4

-

-

-

-

Issuance (Retirement) of Stock, Net

-10.2

-

-

-

-

        Short Term Debt Issued

84.2

115.0

18.8

-

41.8

        Short Term Debt Reduction

-76.2

-97.9

-3.4

-17.9

-46.4

    Short Term Debt, Net

8.0

17.1

15.5

-17.9

-4.6

        Long Term Debt Issued

75.6

103.1

6.3

161.0

-

        Long Term Debt Reduction

-34.7

-122.1

-24.1

-

-52.2

    Long Term Debt, Net

40.9

-19.1

-17.8

161.0

-52.2

Issuance (Retirement) of Debt, Net

48.9

-1.9

-2.4

143.2

-56.8

Cash from Financing Activities

30.2

-13.3

-21.3

-59.1

-57.3

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.2

-

-

0.0

Net Change in Cash

-29.6

7.8

36.7

-9.2

0.1

 

 

 

 

 

 

Net Cash - Beginning Balance

81.3

70.2

23.3

36.3

42.9

Net Cash - Ending Balance

51.8

77.9

60.0

27.0

43.0

Cash Interest Paid

10.7

12.9

-

-

-

Cash Taxes Paid

-0.4

0.5

-

-

-

 

 

 

 

 

 

 

 

 

 

 

Interim Cash Flows

 

Financials in: USD (mil) 

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

           

 

No Financial Data

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Restated Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

-

-

656.1

798.1

831.9

    Finished Goods Revenues

1,001.5

798.8

-

-

-

    Merchandise Sales

48.4

41.8

-

-

-

    Services Revenue

0.0

1.2

-

-

-

    Other Revenue

2.7

0.4

-

-

-

    Adjustment for Revenues

0.0

0.0

-

-

-

Total Revenue

1,052.6

842.3

656.1

798.1

831.9

 

 

 

 

 

 

    Cost-Revenue

923.3

721.2

569.4

700.8

763.1

    Salaries & Wages

14.3

12.3

8.9

8.7

9.8

    Other Payrolls

-

-

0.0

0.0

0.0

    Bonuses

-

-

1.5

1.5

1.8

    Retirement & Severance Benefits

1.1

1.5

1.7

1.7

1.5

    Employee Benefits

3.4

3.3

2.2

2.4

1.9

    Expense-Stock Compensation

-

-

0.8

0.6

-

    Travel Expense

3.0

2.2

1.6

2.0

2.3

    Communication Expense

-

-

0.3

0.3

0.4

    Utility Expenses

-

-

0.0

0.0

0.0

    Taxes & Dues

-

-

0.6

0.6

0.7

    Expense-Consumable Goods

-

-

0.3

0.4

0.3

    Printing Expense

-

-

0.1

0.1

0.1

    Rental Expenses

3.5

3.0

2.0

1.9

2.5

    Repair Expense

-

-

0.3

0.1

0.1

    Vehicles Maintenance Expense

-

-

0.2

0.3

0.3

    Insurance Expense

-

-

0.1

0.2

0.2

    Commission Paid

6.8

10.9

9.4

8.3

8.2

    Shipping & Handling Expense

20.7

19.3

15.8

20.2

19.6

    Entertainment Expense

-

-

1.0

1.1

1.2

    Packaging Expenses

-

-

0.0

0.1

0.0

    Sales Promotion Expense

-

-

0.8

0.6

0.6

    Advertising Expense

4.7

3.2

2.6

3.1

0.2

    Education & Training Expense

1.1

0.6

0.7

0.5

0.2

    Overseas Market Development Expense

-

-

0.0

0.0

0.0

    Expense-Samples

-

-

0.9

1.1

1.4

    Outsourcing Service Expense

2.0

1.3

0.9

1.0

1.2

    Activity Expense

-

-

0.2

0.2

0.1

    Conference Expense

-

-

0.4

0.5

0.4

    Quality-Control Expense

-

-

1.8

1.3

2.2

    Provision-Bad Debt

-

-

1.7

0.1

0.8

    Research Expense

-

-

4.6

3.1

1.4

    Research & Survey Expense

-

-

1.6

1.7

2.1

    Development Costs

9.2

9.2

2.1

1.8

1.3

    Depreciation Expense

1.4

0.5

0.3

0.4

0.5

    Amort of Intangibles

0.9

0.4

0.3

0.3

0.3

    Security Expense

-

-

0.0

0.0

0.0

    Defective Repair Expense

-

-

0.3

0.0

0.4

    Other Selling and Administrative Expense

19.6

9.5

-

0.0

-

    Adjustment for Selling and Administrativ

0.0

0.0

-

-

-

    Gain on Foreign Currency Transactions

-17.3

-14.1

-

-

-

    Gain on Foreign Currency Translation

-0.9

-0.6

-

-

-

    Gain on Disposal of Property, Plant and

-0.1

-0.6

-

-

-

    Recovery of Impairment Loss on Trade & O

-0.2

-

-

-

-

    Recovery of Provision for Product Warran

0.0

0.0

-

-

-

    Recovery of Provision for Defect Repair

0.0

-

-

-

-

    Gain on Assets Contributed

-

-0.2

-

-

-

    Miscellaneous Income

-1.5

-1.4

-

-

-

    Other Operating Income, Other

-

0.0

-

-

-

    Adjustment for Other Operating Income

0.0

0.0

-

-

-

    Loss on Foreign Currency Transactions

17.4

15.9

-

-

-

    Loss on Foreign Currency Translation

3.7

0.7

-

-

-

    Loss on Disposal of Property, Plant and

0.3

1.1

-

-

-

    Impairment Loss on Property, Plant and E

21.4

0.6

-

-

-

    Loss on Scrapping of Inventory

0.0

-

-

-

-

    Depreciation of Idle Assets not Operatio

0.1

0.5

-

-

-

    Impairment Loss on Trade & Other Receiva

0.0

2.8

-

-

-

    Donations Paid

0.1

0.0

-

-

-

    Miscellaneous Loss

1.2

0.8

-

-

-

    Other Operating Expense, Other

-

0.0

-

-

-

    Adjustment for Other Operating Expense

0.0

0.0

-

-

-

Total Operating Expense

1,039.3

804.0

635.6

767.2

827.2

 

 

 

 

 

 

    Interest Income

1.0

3.7

1.7

2.3

3.4

    Dividend Income

0.2

0.1

0.0

0.1

2.0

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Gains on Derivatives Transactions

-

0.1

-

-

-

    G-Inv.Asset Disposal

-

-

-

0.0

0.0

    Gain-Disposal of Sec. Available-Sale

-

-

0.6

-

-

    Gain-Foreign Exchange Transaction

-

-

21.0

21.0

5.2

    Gain-Foreign Currency Translation

-

-

1.3

2.9

0.2

    Gain on Valuations of Derivatives

0.9

-

-

-

-

    G-Reduction Loss of Sec. Avail-for-Sale

-

-

0.6

-

-

    G-Tang Asst Disposal

-

-

0.2

0.2

0.6

    Gain-Exemption of Debts

-

-

0.2

-

-

    Finance Guarantee Deposit Commission Inc

0.0

0.1

-

-

-

    Rental Income

-

-

0.0

0.0

-

    Rvrs-Bad Debt Expenses

-

-

0.9

2.9

1.3

    Recovery-Restructuring Reserve

-

-

-

2.5

-

    Recovery-Defect Repair Reserve

-

-

0.0

0.0

-

    Other Non-Op. Income

-

-

1.1

0.9

2.4

    Interest Expenses

-12.0

-13.6

-12.3

-15.0

-25.9

    Interest Capitalized

0.5

0.5

-

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

    Loss on Disposal of Financial Instrument

-0.2

-

-

-

-

    Loss-Foreign Exchange Transaction

-

-

-18.0

-40.3

-5.1

    Loss on Foreign Currency Translations

-0.7

-

-0.6

-2.1

-1.3

    L-Secs. for Sale Disposal

-

-

-0.3

-

-

    Impairment Loss on Financial Instruments

-

-0.6

-1.7

0.0

-12.0

    Loss-Reduction of Equity Method Sec.

-

-

-0.2

-

-

    Loss-Disposal of Accounts Receivable

-

-

-1.4

-1.9

-

    L-Tang.Asst Disposal

-

-

-0.6

-3.7

-1.1

    Financial Guarantee Expense

0.0

-

-

-

-

    Other Finance Expense

0.0

-1.4

-

-

-

    Other Amortization

-

-

0.0

-

0.0

    Donations Paid

-

-

-0.3

-0.1

-0.2

    Loss-Redemption of Borrowings

-

-

-0.3

-

-

    Amort-Suspend Assets

-

-

-0.7

-0.3

-1.2

    Other Non-Op Expense

-

-

-0.6

-0.8

-5.8

    Restructuring Expense

-

-

-

-

-28.5

    Loss-Disposal of Equity Method Sec.

-

-

-0.1

-

-

    Gain under Equity Method

-

-

0.3

1.1

3.2

    Loss under Equity Method

-

-

-0.4

-0.4

-

    Gain/Loss on Investments in Affiliates

0.6

0.5

-

-

-

Net Income Before Taxes

3.7

27.7

11.0

0.2

-58.0

 

 

 

 

 

 

Provision for Income Taxes

-2.5

-16.3

2.2

0.5

0.5

Net Income After Taxes

6.3

44.0

8.8

-0.3

-58.5

 

 

 

 

 

 

    Minority Interest Gain

-

-

0.0

-0.1

0.0

    Minority Interest

-0.4

0.2

-

-

-

Net Income Before Extra. Items

5.9

44.2

8.8

-0.4

-58.5

    Gain on Discontinued Operations

1.5

0.1

-0.9

-1.5

-4.7

Net Income

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Income Available to Com Excl E

5.9

44.2

8.8

-0.4

-58.5

 

 

 

 

 

 

Income Available to Com Incl E

7.5

44.3

7.9

-1.9

-63.2

 

 

 

 

 

 

Basic Weighted Average Shares

472.0

474.4

470.9

470.3

470.3

Basic EPS Excluding ExtraOrdin

0.01

0.09

0.02

0.00

-0.12

Basic EPS Including ExtraOrdin

0.02

0.09

0.02

0.00

-0.13

Dilution Adjustment

0.0

0.0

0.0

0.0

-

Diluted Net Income

7.5

44.3

7.9

-1.9

-63.2

Diluted Weighted Average Share

472.0

474.4

470.9

470.3

470.3

Diluted EPS Excluding ExtraOrd

0.01

0.09

0.02

0.00

-0.12

Diluted EPS Including ExtraOrd

0.02

0.09

0.02

0.00

-0.13

DPS-Common Stock

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

25.2

31.6

12.8

5.6

-57.5

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

5.0

-14.9

2.5

2.4

0.7

Normalized Income After Taxes

20.2

46.5

10.3

3.2

-58.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

19.9

46.7

10.3

3.1

-58.2

 

 

 

 

 

 

Basic Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Diluted Normalized EPS

0.04

0.10

0.02

0.01

-0.12

Interest Expense

11.5

13.2

12.3

15.0

25.9

Interest Capitalized

-0.5

-0.5

0.0

-0.3

-0.1

Rental Expense

3.5

3.0

2.0

1.9

2.5

Advertising Expense

4.7

3.2

3.3

3.8

0.9

R&D Expense, Supplemental

9.2

9.2

8.3

6.6

4.8

Depreciation

27.4

23.7

22.4

28.9

49.5

Amort of Intangibles, Suppleme

0.9

0.5

0.4

0.4

0.3

 

 

Interim Income Statement

 

Financials in: USD (mil) 

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

 

 

No Financial Data

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Updated Normal
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

49.8

79.4

65.8

23.6

42.6

    Current Financial Deposits

0.1

1.8

-

-

-

    ST Finl Assets

-

-

9.5

0.7

6.1

    ST Investment Assets

-

-

0.5

0.7

0.3

    Current Securities Held-to-Maturities

0.1

0.0

-

-

-

    ST Loans

-

-

2.6

2.5

2.6

    Security Deposit

-

-

0.0

0.0

0.1

    Trade Receivables, Net

128.0

117.8

-

-

-

    Trade Rcvbls,G

-

-

83.6

89.1

104.5

    Allw-Doubtful Ac

-

-

-5.0

-3.6

-5.3

    Other Receivables

8.9

6.9

4.6

7.8

5.4

    Accrued Income

-

-

0.2

0.2

0.6

    Advance Payments

0.2

0.5

0.8

0.1

0.1

    Prepaid Expenses

1.7

1.5

0.8

1.0

1.4

    Receivable-Recovery of Taxes

0.1

0.9

0.3

0.5

0.8

    Prepaid Value Added Taxes

3.1

1.7

-

-

-

    Current Derivative Assets

0.0

-

-

-

-

    Adjustment for Other Current Assets

-

0.0

-

-

-

    Other Current Assets

-

-

1.3

1.1

1.3

    Merchandise

1.4

0.7

0.5

0.4

0.5

    Finished Goods

40.5

34.6

27.8

25.6

33.6

    Semi-finished Goods

18.2

13.6

10.1

8.8

14.3

    Works in Process

17.9

14.8

12.8

11.3

17.3

    Raw Materials

22.9

15.5

13.5

12.2

16.7

    Suppl. Material

-

-

2.6

2.4

2.2

    Raw Mat.Transit

-

-

3.5

3.8

5.2

    Supplemental Materials in Transit

-

-

0.2

-

-

    Residual Products

0.1

0.1

0.2

0.5

0.7

    Stored Goods

0.7

0.4

0.6

0.5

1.0

    Goods in Transit

-

-

0.0

1.6

0.9

    Inventory in Transit

13.7

4.3

-

-

-

    Other Inventories

0.0

3.4

-

-

-

    Adjustment for Inventories

0.0

0.0

-

-

-

Total Current Assets

307.3

297.7

237.1

191.0

252.8

 

 

 

 

 

 

    Non-Current Financial Deposits

0.3

0.1

-

-

-

    LT Finl Assets

-

-

0.0

0.0

0.0

    LT Invest Secs.

-

-

6.1

4.1

-

    Other Investment Assets

-

-

0.6

0.2

0.2

    Investment in Properties

2.9

3.3

-

-

-

    Non-Current Securities Available-for-Sal

0.6

2.2

-

-

42.8

    Non-Current Securities Held-to-Maturitie

2.2

2.4

-

-

1.7

    Investment in Affiliates

4.3

3.9

7.1

9.1

10.1

    Long-term Loans

-

-

0.0

0.8

0.0

    Long-term Non-trade Receivables

-

-

0.0

0.5

1.8

    Other Non-Current Receivables

7.5

6.7

-

-

-

    Non-Current Prepaid Expenses

0.0

-

-

-

-

    LT Guarantee Dep

-

-

4.2

2.6

2.1

    Non-Current Derivatives Assets

0.1

-

-

-

-

    Other Non-Current Assets

0.1

0.1

-

-

-

    Adjustment for Other Non-Current Assets

0.0

-

-

-

-

    Non-Current Deferred Income Taxes Assets

15.8

12.4

0.4

1.9

2.1

    Lands

63.0

62.4

78.4

73.8

104.0

    Buildings

118.1

114.0

114.1

107.4

124.9

    Buildings-Depreciation

-34.4

-31.9

-32.2

-28.2

-31.2

    Buildings-Reduction

-0.6

-0.6

-

-

-

    Structures

24.0

22.3

20.6

17.0

17.6

    Structures-Depreciation

-8.0

-7.2

-6.2

-5.2

-4.7

    Tools & Equipments

21.0

17.8

15.0

13.2

15.5

    Tools & Equipments-Depreciation

-15.3

-14.1

-12.3

-10.6

-12.2

    Tools & Equipments-Government Subsidy

-0.1

0.0

0.0

0.0

-

    Machineries & Equipments

527.6

486.0

456.0

415.4

518.5

    Machineries & Equipments-Depreciation

-394.5

-381.6

-367.3

-327.9

-404.6

    Machineries & Equipments-Government Subs

-0.3

-0.2

-0.1

-0.1

-

    Machineries & Equipments-Reduction

-20.6

-

-

-

-

    Vehicles

3.9

3.8

3.4

3.2

3.8

    Vehicles-Depreciation

-2.9

-2.8

-2.4

-2.2

-2.9

    Other Property Plant & Equipment

0.2

0.2

-

-

-

    Other Property Plant & Equipment-Depreci

-0.2

-0.2

-

-

-

    Construc in Prog

24.8

26.8

15.3

3.1

6.7

    Mach.In Transit

0.0

6.3

0.6

0.9

2.0

    Adjustment for Property, Plant & Equipme

-

-

-

-

-

    Membership Rights

1.1

1.0

1.0

0.9

1.8

    Industrial Property Rights

0.0

0.1

-

-

-

    Construction in Progress-Intangible Asse

5.2

1.7

0.7

-

-

    Software

3.6

1.0

1.3

1.0

1.0

    Other Intangible Assets

16.2

16.2

-

-

-

    Adjustment for Intangible Assets

-

-

-

-

-

Total Assets

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

    Current Trade Payables

87.6

107.8

90.3

40.4

40.1

    Accounts Payable

-

-

24.5

26.8

41.2

    Other Current Payables

49.7

43.7

-

-

-

    Income Taxes Payables

0.5

0.1

0.1

0.4

-

    Accrued Expenses

-

-

6.5

8.5

7.9

    Advance from Customers, Current Liabilit

4.0

4.7

1.5

1.0

1.5

    Unearned Income

-

-

1.1

0.2

-

    Deposit Withheld

1.1

1.3

1.2

0.9

2.1

    Lease Guarantee

-

-

2.6

2.5

3.7

    Sec Dep Withheld

-

-

0.0

0.0

0.0

    Value Added Taxes Withholdings

0.2

0.0

-

-

-

    Current Borrowings

90.4

82.7

34.3

16.2

42.6

    Current Derivatives Liabilities

0.3

1.2

-

-

-

    Finance Restructuring Reserve

-

-

-

-

7.2

    Reserve-Sales Guarantee

-

-

0.9

0.4

-

    Reserve for Current Liabilities

0.9

0.9

-

-

-

    Government Subsidy Related Liabilities

1.5

1.1

-

-

-

    Current Financial Guarantee Contract Lia

0.0

-

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

    Current Portion of Long-term Liabilities

26.4

30.9

17.2

15.1

236.0

    Current Financial Lease Liabilities

0.0

-

-

-

-

    Current Portion of Bonds

-

-

6.9

-

-

Total Current Liability

262.5

274.4

187.2

112.4

382.2

 

 

 

 

 

 

    Bonds

44.6

-

-

-

-

    Non-Current Borrowings

81.7

84.0

101.0

133.9

5.4

    Capital Leased Liabilities, LD

0.0

-

-

-

-

Total Long Term Debt

126.3

84.0

101.0

133.9

5.4

 

 

 

 

 

 

    Other Non-Current Payables

5.0

5.8

3.9

0.3

-

    Derivatives in Non-current Liabilities

0.7

0.3

-

-

-

    Financial Guarantee Contracts Liabilitie

-

0.0

-

-

-

    Deferred Income Taxes, Non-Current Liabi

0.1

0.0

-

-

-

    Rsv-Error Adjus.

-

-

0.3

0.1

0.2

    Non-Current Provisions

0.4

0.5

-

-

-

    Retirement Resrv

-

-

26.3

28.7

22.1

    Deposit-Retirement Insurance

-

-

-7.7

-9.7

-

    Transfer to National Pension Fund

-

-

-0.5

-0.7

-

    Non-Current Fixed Benefit Liabilities

9.0

8.9

-

-

-

    Minority Interests

2.0

1.6

1.4

2.2

1.8

Total Liabilities

406.0

375.6

311.9

267.1

411.8

 

 

 

 

 

 

    Common Stock

205.9

209.0

203.7

186.7

251.3

    Capital Surplus

-

-

32.1

29.7

40.7

    Stock Options

-

-

1.6

0.6

-

    Paid-in Capital in Excess of Par

-

-

3.4

-

-

    Retained Earning Carried Forward

-

-

-21.9

-28.2

-58.5

    Retained Earnings or Accumulated Deficit

69.0

64.1

-

-

-

    Unissu Share Cap

-

-

-

5.1

6.8

    Gain-Valu. of Sec. Available for Sale

-

-

-

0.5

-

    Loss-Secs for Sale Valuation

-

-

0.0

-1.7

-2.2

    Negative Capital Change U/ Equity Mtd.

-

-

-0.7

-12.4

-0.4

    Positive Capital Change U/ Equity Mtd.

-0.1

-0.1

-

-

0.1

    Treasury Stock

-

-

0.0

0.0

0.0

    Overseas Business Translation Credit

-

-

11.2

24.8

4.3

    Overseas Business Translation Debit/Cred

0.3

-0.3

-

-

-

    Gain/Losses on Valuation of Derivatives

-1.5

-1.3

-

-

-

    Other Capital Items

-6.7

2.7

-

-

-

    Adjustment for Accumulated Other Compreh

-

-

-

-

-

Total Equity

267.1

274.1

229.4

205.1

242.1

 

 

 

 

 

 

Total Liabilities & Shareholde

673.1

649.7

541.3

472.2

653.9

 

 

 

 

 

 

    S/O-Common Stock

474.5

474.4

474.4

470.3

470.3

Total Common Shares Outstandin

474.5

474.4

474.4

470.3

470.3

T/S-Common Stock

-

0.0

0.0

0.0

0.0

Accumulated Intangible Amortization

3.1

2.3

1.4

1.0

0.9

Deferred Revenue, Current

4.0

4.7

2.6

1.2

1.5

Full-Time Employees

1,178

1,028

1,047

1,095

1,086

Number of Common Shareholders

-

19,045

17,542

6,348

5,812

Long-Term Debts Due in 1 Year

26.4

-

17.3

15.1

236.0

Long-Term Debts Due in 2 Years

42.6

-

21.6

15.9

-

Long-Term Debts Due in 3 Years

74.3

-

25.9

20.0

-

Long-Term Debts Due in 4 Years

3.5

-

51.2

24.0

-

Long-Term Debts Due in 5 Years

1.2

-

0.2

71.6

-

Long-Term Debts Due Remaining

5.0

-

1.2

1.3

-

Total Long Term Debt, Supplemental

153.0

-

117.5

147.9

236.0

Capital Lease Due in 1 Year

0.0

-

-

-

-

Capital Lease Due in 5 Years

0.0

-

-

-

-

Interest Costs

0.0

-

-

-

-

Total Capital Leases

0.0

-

-

-

-

 

 

Interim Balance Sheet

 

Financials in: USD (mil)                                                                

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

 

No Financial Data

 

 

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
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Reclassified Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

7.8

44.1

7.9

-1.9

-63.2

    Depreciation

27.4

23.7

22.4

28.9

50.7

    Amort.-Intangible

0.9

0.5

0.4

0.4

0.3

    Stock Compensation Expense

0.5

1.0

0.9

0.6

-

    Amort-Bad Debt Exp

-

-

2.1

0.7

0.4

    Amort-Otr Bad Debt E

-

-

0.0

0.0

0.0

    Rvrs-Bad Debt Expenses

-

-

-0.9

-2.9

-1.3

    Amortization-Present Value Discount, ON

-

-

-0.1

-0.2

-0.2

    Finance Guarantee Deposit Commission Inc

0.0

-0.1

-

-

-

    Dividend Income

-0.2

-0.1

-

-

-

    Interest Income

-1.0

-3.7

-

-

-

    Interest Expenses

11.5

13.4

2.3

1.0

0.0

    Corporate Taxes Expense,OP

1.1

0.0

-

-

-

    Corporate Taxes Expense, ON

-3.6

-16.3

-

-

-

    Financial Guarantee Expense

0.0

-

-

-

-

    Other Financial Expense

0.0

1.4

-

-

-

    Payment for Retirement Allowance, ONCI

4.1

4.4

4.7

5.9

6.1

    Defect Repair Expense

-

-

0.3

0.0

-

    Recovery-Defect Repair Reserve

0.0

-0.1

0.0

0.0

-

    Quality-Control Expense

-

-

0.5

0.5

-

    Sales Guarantee Expense

0.8

0.0

-

-

-

    Recovery of Provision for Sales Guarante

0.0

0.0

-

-

-

    Restructuring Expense

-

-

-

-

28.5

    Gain-Assets Contributed, ON

-

-0.2

-

-

-

    Gains on Valuations of Derivatives Asset

-0.9

-

-

-

-

    L-For Exch Translatn

4.4

0.7

0.6

2.1

1.3

    Miscellaneous Loss

-

0.2

-

-

-

    Recovery-Restructuring Reserve

-

-

-

-2.5

-

    Loss-Disposal of Trade Receivable

-

-

1.4

-

-

    Loss on Disposal of Investment in Affili

0.2

-

0.1

-

-

    Loss on Disposal of Property, Plant and

0.3

1.1

0.6

3.7

1.0

    Loss on Disposal of Financial Assets Ava

0.2

-

0.3

-

-

    L-Inventory Disposal

4.2

0.2

0.3

0.5

-

    Loss-Reduct. of Sec. under Equity Method

-

-

0.2

-

-

    Loss-Reduct. of Sec. Available-for-Sale

-

0.6

1.7

-

12.0

    Impairment Loss on Trade & Other Recevia

0.0

2.8

-

-

-

    L-Tangible Asst Valu

21.4

0.6

-

0.1

-

    Loss -Redemption of LT Borrowings

-

-

0.3

-

-

    Loss under Equity Method

-

-

0.4

0.4

-

    Gain-Disp. of Security Avail-for-Sale

-

-

-0.6

-

-

    G-Inv.Asset Disp

-

-

-

0.0

0.0

    Gain on Disposal of Property, Plant and

-0.1

-0.6

-0.2

-0.2

-0.5

    Recovery-Sec. Avail-for-Sale Reduction

-

-

-0.6

-

-

    Recovery-Inventory Valuation Loss

-

-

-

-

-0.1

    Recovery of Impairment Loss on Trade & O

-0.2

-

-

-

-

    Recovery of Losses on Valuation of Inven

0.0

-0.1

-

-

-

    Gain under Equity Method

-0.7

-0.5

-0.3

-1.1

-3.2

    G-For Exch Translatn

-0.9

-0.6

-0.9

-2.8

-0.2

    Dividend Received from Affiliates

-

-

0.1

0.1

0.1

    Gain-Debt Exemption

-

-

-0.2

-

-

    Trade Receivables

-14.4

-13.0

8.9

-19.7

6.0

    Accrued Income

-

-

0.0

0.6

0.1

    Other Receivables

-3.0

-1.5

4.1

-4.4

-1.8

    Prepaid Expenses

-

-

0.2

0.1

0.5

    Advance Payments

-

-

-0.6

-0.1

0.0

    Inventory

-34.1

-12.7

-0.2

3.5

1.9

    Corporate Tax Refundable

-

-

0.3

0.1

0.2

    Accrued Income Taxes

-

-

-

0.5

-

    Increase-Security Deposit

-

-

0.0

0.1

0.7

    Other Current Assets

-1.5

-0.3

-0.2

1.9

-1.3

    Other Non-Current Assets

0.3

-1.7

-

-

-

    Trade Payables

-20.5

11.7

41.2

16.9

-10.3

    Other Payables

4.6

11.0

-3.1

-3.1

-3.0

    Other Non-current Payables

-0.2

-0.5

-

-

-

    Lease Guarantee

-

-

0.0

-0.3

-0.1

    Unearned Income

-

-

1.0

0.2

-

    Accrued Expenses

-

-

-2.4

2.5

2.6

    LT Account Payable

-

-

4.1

0.4

-

    Advances Received

-

-

0.0

-0.2

-3.0

    Deposits Withheld

-

-

0.1

-2.5

0.1

    Security Deposit Withheld

-

-

-

-

-0.1

    Provisions

-0.8

-0.3

-

-

-

    Deferred Taxes-Asset

-

-

1.4

-

0.5

    Other Current Liabilities

-0.8

0.2

-

-

-

    Rsv-Error Adjustment

-

-

-0.1

0.0

-0.6

    Nation Pension Fnd

-

-

0.2

0.2

0.1

    Retiremt Allow Paymt

-

-

-8.9

-5.2

-4.0

    Retirement Insurance

-

-

2.5

1.1

1.0

    Fixed Benefit Liabilities

-5.5

-15.2

-

-

-

    Corporate Taxes Refund

0.5

-

-

-

-

    Cash-Tax Paid

-0.1

-0.5

-

-

-

Cash From Operating Activities

1.6

49.5

92.3

26.2

21.4

 

 

 

 

 

 

    Decrease in Financial Deposit

1.7

9.8

-

-

-

    Proceeds from Sale of Short-term Financi

-

-

-

4.4

3.5

    Dec-LT Finl Asset

-

-

-

0.0

0.0

    Dec-ST Loans

-

-

1.4

1.0

0.7

    Dec-LT Loans

-

-

0.9

4.0

3.2

    Decrease in Other Receivables

0.9

3.0

-

-

-

    Decrease in Other Non-Current Receivable

0.2

5.8

-

1.1

1.3

    Decrease-Guarantee Deposit

-

-

0.3

0.2

0.4

    Decrease-Investment Securities

-

-

1.5

33.9

0.0

    Decrease-Investment Real Estate

-

-

-

-

82.7

    Disposal-ST Investment Assets

-

-

0.7

0.3

0.7

    Disp-Other Investment Assets

-

-

0.1

-

-

    Disposal of Securities Available-for-Sal

1.5

-

-

-

-

    Disposal of Financial Assets Held to Mat

0.0

7.5

-

-

-

    Disposal of Investment in Subsidiaries

0.9

-

-

-

-

    Disp-Land

-

-

0.2

5.3

0.3

    Disposal of Building

-

-

0.2

0.3

0.0

    Disp-Structure

-

-

0.0

-

0.0

    Disp-Machinery

-

-

0.2

0.3

1.0

    Disp-Vehicles

-

-

0.1

0.0

0.0

    Disp-Tools/Equipmt

-

-

0.0

0.0

0.0

    Disposal of Property, Plant and Equipmen

6.3

3.4

-

-

-

    Decrease-Membership Right

-

-

-

0.5

-

    Inc-ST Finl Asset

-0.4

-2.0

-8.0

-

-3.2

    Inc-ST Loans

-

-

-0.5

-0.7

-0.6

    Increase in Other Receivables

-0.3

-0.4

-

-

-

    Increase in Other Non-Current Receivable

-1.0

-1.8

-

-

-

    Increase-Guarantee Deposit

-

-

-1.6

-1.4

-0.5

    Increase-Investment Securities

-

-

-1.2

-1.0

-0.3

    Inc-Secs Maturity

0.0

-1.2

-

-

-

    Acq-Building

-

-

-0.4

-0.1

-0.1

    Acq-Structure

-

-

-0.2

-0.3

-0.1

    Acq-Machinery

-

-

-3.8

-5.0

-4.0

    Acq-Vehicles

-

-

-0.3

-0.7

-0.6

    Acq-Tools/Equipmt

-

-

-1.0

-1.3

-0.6

    Acq-Constructn Prog

-

-

-17.4

-12.7

-26.1

    Acq-Mach. In Transit

-

-

-5.1

-3.7

-4.4

    Purchase of Property, Plant and Equipmen

-65.2

-56.7

-

-

-

    Acq-Software

-

-

-0.5

-0.7

-0.3

    Purchase of Intangible Assets

-7.2

0.0

-

-

-

    Decrease-Restructuring Reserve

-

-

-

-

-16.9

    Cash Interest Received

1.0

3.9

-

-

-

    Dividend Received

0.3

0.2

-

-

-

Cash From Investing Activities

-61.4

-28.6

-34.3

23.7

36.0

 

 

 

 

 

 

    Increase in Current Borrowings

84.2

115.0

18.8

-

41.8

    Increase in Non-Current Borrowings

29.9

103.1

-

161.0

-

    Increase in Bonds

45.7

-

-

-

-

    Increase-Current Portion of Bond

-

-

6.3

-

-

    Incr-Oversea Trns Cr

-

-

-

0.1

-

    Increase in Government Subsidy

2.1

1.5

-

-

-

    Dec-Curr LT Liabs

-

-

-18.7

-201.3

-0.5

    Decrease in Current Borrowings

-76.2

-97.9

-3.4

-17.9

-46.4

    Decrease-Current Portion of Bond

0.0

-5.6

-

-

-

    Decrease in Non-Current Borrowings

-3.1

-99.3

-24.0

-

-42.1

    Decrease in Current Portion of Long-Term

-31.6

-17.3

-

-

-

    Redemption-Bond

-

-

-

-

-10.1

    Increase in Treasury Stocks

-10.6

-

-

-

-

    Increase-Stock Option

-

-

0.0

-

-

    Net Change in Other Cash

-

-

-0.1

-1.1

-

    Exercise of Stocks Options

0.4

-

-

-

-

    Redemption-Debt for Equity Swap

-

-

-0.1

-

-

    Cash Interest Paid

-10.7

-12.9

-

-

-

Cash From Financing Activities

30.2

-13.3

-21.3

-59.1

-57.3

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.2

-

-

0.0

Net Change in Cash

-29.6

7.8

36.7

-9.2

0.1

 

 

 

 

 

 

Net Cash Beginning Balance

81.3

70.2

23.3

36.3

42.9

Net Cash Ending Balance

51.8

77.9

60.0

27.0

43.0

    Cash Interest Paid

10.7

12.9

-

-

-

    Cash Taxes Paid

-0.4

0.5

-

-

-

 

 

Interim Cash Flows

 

Financials in: USD (mil) 

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

 

 

No Financial Data

 

 

Geographic Segments

 

Financials in: As Reported (mil)

 

Annual

External Revenue   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

South Korea

365.0

44.2 %

286.5

43.7 %

334.9

42 %

378.3

47.2 %

369.9

46 %

Europe

50.8

6.2 %

36.0

5.5 %

49.0

6.1 %

55.0

6.9 %

38.7

4.8 %

Japan

-

-

11.4

1.7 %

15.7

2 %

13.9

1.7 %

14.4

1.8 %

China

105.5

12.8 %

89.1

13.6 %

100.5

12.6 %

96.4

12 %

95.4

11.9 %

North America

45.6

5.5 %

47.9

7.3 %

61.2

7.7 %

83.5

10.4 %

76.3

9.5 %

South America

22.7

2.8 %

15.0

2.3 %

-

-

-

-

-

-

Russia

15.5

1.9 %

10.8

1.6 %

-

-

-

-

-

-

Vietnam

32.5

3.9 %

30.9

4.7 %

-

-

-

-

-

-

Indonesia

57.1

6.9 %

44.9

6.8 %

-

-

-

-

-

-

Other Foreign

130.5

15.8 %

94.9

14.5 %

236.9

29.7 %

173.6

21.7 %

208.7

26 %

Segment Total

825.2

100 %

656.1

100 %

798.1

100 %

800.8

100 %

803.5

100 %

Consolidated Total

825.2

100 %

656.1

100 %

798.1

100 %

800.8

100 %

803.5

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

955.035724

 

Total Revenue   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

South Korea

365.0

44.2 %

286.5

43.7 %

334.9

42 %

378.3

47.2 %

369.9

46 %

Europe

50.8

6.2 %

36.0

5.5 %

49.0

6.1 %

55.0

6.9 %

38.7

4.8 %

Japan

-

-

11.4

1.7 %

15.7

2 %

13.9

1.7 %

14.4

1.8 %

China

105.5

12.8 %

89.1

13.6 %

100.5

12.6 %

96.4

12 %

95.4

11.9 %

North America

45.6

5.5 %

47.9

7.3 %

61.2

7.7 %

83.5

10.4 %

76.3

9.5 %

South America

22.7

2.8 %

15.0

2.3 %

-

-

-

-

-

-

Russia

15.5

1.9 %

10.8

1.6 %

-

-

-

-

-

-

Vietnam

32.5

3.9 %

30.9

4.7 %

-

-

-

-

-

-

Indonesia

57.1

6.9 %

44.9

6.8 %

-

-

-

-

-

-

Other Foreign

130.5

15.8 %

94.9

14.5 %

236.9

29.7 %

173.6

21.7 %

208.7

26 %

Segment Total

825.2

100 %

656.1

100 %

798.1

100 %

800.8

100 %

803.5

100 %

Consolidated Total

825.2

100 %

656.1

100 %

798.1

100 %

800.8

100 %

803.5

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

955.035724

 

 

 

Business Segments

 

Financials in: As Reported (mil)

 

Annual

 

 

 

External Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Fiber Segment

748.0

69.9 %

591.3

69.2 %

-

-

-

-

-

-

Textile Segment

105.6

9.9 %

87.2

10.2 %

536.7

81.8 %

664.3

83.2 %

707.5

84.4 %

Filter

108.9

10.2 %

89.8

10.5 %

-

-

-

-

-

-

Special/Environment Material

58.7

5.5 %

49.9

5.8 %

94.4

14.4 %

109.6

13.7 %

104.7

12.5 %

Trade Business

2.8

0.3 %

2.3

0.3 %

-

-

-

-

-

-

Other

45.9

4.3 %

34.4

4 %

25.0

3.8 %

24.2

3 %

26.0

3.1 %

Segment Total

1,069.9

100 %

854.8

100 %

656.1

100 %

798.1

100 %

838.2

100 %

Intersegment Revenues

-17.3

-1.6 %

-12.5

-1.5 %

-

-

-

-

-

-

Consolidated Total

1,052.6

98.4 %

842.3

98.5 %

656.1

100 %

798.1

100 %

838.2

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

Total Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Fiber Segment

748.0

69.9 %

591.3

69.2 %

-

-

-

-

-

-

Textile Segment

105.6

9.9 %

87.2

10.2 %

536.7

81.8 %

664.3

83.2 %

707.5

84.4 %

Filter

108.9

10.2 %

89.8

10.5 %

-

-

-

-

-

-

Special/Environment Material

58.7

5.5 %

49.9

5.8 %

94.4

14.4 %

109.6

13.7 %

104.7

12.5 %

Trade Business

2.8

0.3 %

2.3

0.3 %

-

-

-

-

-

-

Other

45.9

4.3 %

34.4

4 %

25.0

3.8 %

24.2

3 %

26.0

3.1 %

Segment Total

1,069.9

100 %

854.8

100 %

656.1

100 %

798.1

100 %

838.2

100 %

Intersegment Revenues

-17.3

-1.6 %

-12.5

-1.5 %

-

-

-

-

-

-

Consolidated Total

1,052.6

98.4 %

842.3

98.5 %

656.1

100 %

798.1

100 %

838.2

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

 

Depreciation   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Textile Segment

0.0

64 %

15.6

70.6 %

21.7

74.8 %

44.3

87.3 %

Special/Environment Material

0.0

35.9 %

6.5

29.4 %

7.3

25.2 %

6.4

12.7 %

Other

0.0

0 %

-

-

-

-

-

-

Segment Total

0.0

100 %

22.1

100 %

29.0

100 %

50.7

100 %

Consolidated Total

0.0

100 %

22.1

100 %

29.0

100 %

50.7

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

Operating Income/Loss   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Textile Segment

0.0

77.8 %

14.6

71.2 %

22.9

74 %

10.1

257.7 %

Special/Environment Material

0.0

22.3 %

5.7

27.8 %

7.7

24.8 %

-5.9

-149.7 %

Other

0.0

-0.1 %

0.2

1.1 %

0.4

1.2 %

-0.3

-8 %

Segment Total

0.0

100 %

20.5

100 %

31.0

100 %

3.9

100 %

Consolidated Total

0.0

100 %

20.5

100 %

31.0

100 %

3.9

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

 

Operating Margin (%)  

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Textile Segment

5.2

-

2.7

-

3.5

-

1.4

-

Special/Environment Material

7.7

-

6.0

-

7.0

-

-5.6

-

Other

-0.2

-

0.9

-

1.5

-

-1.2

-

Segment Total

5.3

-

3.1

-

3.9

-

0.5

-

Consolidated Total

5.3

-

3.1

-

3.9

-

0.5

-

Income Before Tax   USD (mil)

 

31-Dec-11

31-Dec-10

Fiber Segment

40.9

253.5 %

33.8

77.8 %

Textile Segment

-3.9

-23.9 %

-0.4

-1 %

Filter

16.9

105.1 %

16.3

37.6 %

Special/Environment Material

-40.2

-249.2 %

-6.4

-14.8 %

Trade Business

0.1

0.6 %

-0.1

-0.2 %

Other

2.2

14 %

0.2

0.5 %

Segment Total

16.1

100 %

43.4

100 %

Intersegment Revenues

-12.4

-76.8 %

-15.7

-36.3 %

Consolidated Total

3.7

23.2 %

27.7

63.7 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

 

Pre-Tax Margin (%)  

 

31-Dec-11

31-Dec-10

Fiber Segment

5.5

-

5.7

-

Textile Segment

-3.6

-

-0.5

-

Filter

15.6

-

18.2

-

Special/Environment Material

-68.4

-

-12.9

-

Trade Business

3.3

-

-3.2

-

Other

4.9

-

0.7

-

Segment Total

1.5

-

5.1

-

Intersegment Revenues

71.5

-

125.9

-

Consolidated Total

0.4

-

3.3

-

Long Lived Assets   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Textile Segment

0.2

69 %

191.2

67.1 %

208.4

79.8 %

260.0

76.8 %

Special/Environment Material

0.1

30.2 %

90.9

31.9 %

52.6

20.2 %

66.4

19.6 %

Other

0.0

0.8 %

2.7

0.9 %

0.0

0 %

12.1

3.6 %

Segment Total

0.3

100 %

284.8

100 %

261.0

100 %

338.5

100 %

Consolidated Total

0.3

100 %

284.8

100 %

261.0

100 %

338.5

100 %

Exchange Rate: KRW to USD

1,134.900000

 

1,164.475000

 

1,259.550000

 

936.050000

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.63

UK Pound

1

Rs.86.17

Euro

1

Rs.69.74

 

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%)

 

 

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

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