MIRA INFORM REPORT

 

 

Report Date :

12.04.2013

 

IDENTIFICATION DETAILS

 

Name :

KOLON GLOBAL CORP 

 

 

Formerly Known As :

KOLON ENGINEERING &CONSTRUCTION CO.,LTD

 

 

Registered Office :

Kolon Tower, 1-23, Byeoryang-Dong, Gwacheon, 427709

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

28.12.1960

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Subject is engaged in the construction business

 

 

No. of Employees :

2487

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

Payment Behaviour :

Slow but Correct

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 & address

 

Kolon Global Corp

Kolon Tower, 1-23, Byeoryang-Dong

Gwacheon, 427709

Korea, Republic of

Tel:       82-2-36773114

Fax:      82-2-36775601

Web:    www.kolonglobal.com

           

 

Synthesis

 

Employees:                 2,487

Company Type:            Public Subsidiary

Corporate Family:          24 Companies

Ultimate Parent:             KOLON CORPORATION

Traded:                         Korea Stock Exchange: 003070

Incorporation Date:        28-Dec-1960

Auditor:                                   Deloitte & Touche LLP  

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2012

Reporting Currency:       South Korean Won

Annual Sales:               3,813.6  1

Net Income:                  (20.5)

Total Assets:                 2,589.5  2

Market Value:               310.3 (29-Mar-2013)

 

 

Business Description     

 

KOLON GLOBAL CORPORATION, formerly KOLON ENGINEERING &CONSTRUCTION CO.,LTD is a Korea-based company engaged in the construction business. The Company operates its business under six divisions: civil engineering division constructs roads, subways, bridges, expressways, dams and others; architecture division constructs office buildings, commercial buildings, public buildings, educational facilities, sports centers and others; housing division constructs apartments and residential buildings; environmental division constructs sewage treatment facilities and other waste treatment facilities; plant division constructs power plants, chemical plants and others, and overseas business division engages in the overseas construction works. On February 18, 2011, it sold its entire shares of GREEN NARAE.INC. On December 28, 2011, it completed the merger with KOLON I'NETWORKS CORP. and KOLON B&S, Inc., engaged in information technology and trading businesses and automobile sales and sports businesses For the fiscal year ended 31 December 2012, Kolon Global Corp revenues increased from W1.52T to W4.297T. Net loss applicable to common stockholders totaled W23.37B vs. income of W13.2B. Revenues reflect Merchandise Revenues increase from W14.17B to W2.607T, Construction Revenue increase of 9% to W1.587T, Service Revenue increase of 83% to W69.57B. Net loss reflects Salaries increase from W35.51B to W81.75B (expense).

Industry            

Industry           Construction Services

ANZSIC 2006:   3101 - Road and Bridge Construction

NACE 2002:      4523 - Construction of motorways,

roads, railways, airfields and sports facilities

NAICS 2002:     23731 - Highway, Street, and Bridge Construction

UK SIC 2003:    4523 - Construction of motorways, roads, railways, airfields and sports facilities

UK SIC 2007:    4211 - Construction of roads and motorways

US SIC 1987:    1611 - Highway and Street Construction, Except Elevated Highways

 

           

Key Executives   

 

Name

Title

Byeong Deok Ahn

President, Chief Executive Officer, Director

Bo Sik Jeon

Internal Auditor

Dong Gwon Jang

Vice President

Jong-Keun Kim

CEO

Ju Hong Lee

President

 

 

Significant Developments  

 

Topic

#*

Most Recent Headline

Date

Business Deals

4

Kolon Global Corporation Signs Contract with Ghana Water Company Limited (GWCL)

17-Dec-2012

Equity Financing / Related

1

Kolon Global Corporation to Dispose Treasury Shares

9-Apr-2012

Equity Investments

1

Kolon Global Corporation Sells Stake in Hana Capital.co., Ltd.

25-Mar-2013

 

 

* number of significant developments within the last 12 months  

 

 

News   

 

 

Title

Date

Korea's Leading Convention and Exhibition Center Coex Appoints New President and CEO
PR Web (308 Words)

2-Apr-2013

[SWEET 2013] KOLON GLOBAL's GSHP systems in SWEET 2013
Aving USA (146 Words)

14-Mar-2013

KOLON GLOBAL introduced its GSHP systems at Solar, Wind & Earth En
Aving USA (141 Words)

14-Mar-2013

WIPO PUBLISHES PATENT OF SUMISHO METALEX, KAZUMI KANEKO, HIROSHI KUMEHARA AND KOLON GLOBAL FOR "LONGITUDINAL FOLDABLE HOT-WATER MAT FOR HEATING A... 
U.S. Fed News (293 Words)

22-Feb-2013

WIPO PUBLISHES PATENT OF KOLON GLOBAL, JOONG KYU JEON FOR "FIBER-REINFORCED CONCRETE COMPOSITION FOR A CONTAINMENT BUILDING OF A NUCLEAR POWER PLANT"... 
U.S. Fed News (201 Words)

11-Jan-2013

S. Korea's Kolon Global wins US$93 mln in deals from Africa
Yonhap News Agency (68 Words)

 

 

 

Financial Summary    

 

 

As of 31-Dec-2012

Key Ratios

Company

Industry

Sales 5 Year Growth

27.05

4.38

 

 

Stock Snapshot  

 

 

Traded: Korea Stock Exchange: 003070

 

As of 29-Mar-2013

   Financials in: KRW

Recent Price

4,160.00

 

EPS

-263.03

52 Week High

6,250.00

 

Price/Sales

0.08

52 Week Low

2,975.00

 

Price/Book

0.74

Avg. Volume (mil)

0.16

 

Beta

1.21

Market Value (mil)

345,368.40

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

10.20%

11.39%

13 Week

18.69%

18.23%

52 Week

-32.36%

-32.04%

Year to Date

18.69%

18.23%

 

 


 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1126.849

2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1066.4

 

 

Corporate Overview

 

Location

Kolon Tower, 1-23, Byeoryang-Dong

Gwacheon, 427709

Korea, Republic of

Tel:       82-2-36773114

Fax:      82-2-36775601

Web:    www.kolonglobal.com

           

Quote Symbol - Exchange

003070 - Korea Stock Exchange

Sales KRW(mil):            4,297,307.0

Assets KRW(mil):          2,761,406.5

Employees:                  2,487

Fiscal Year End:            31-Dec-2012

Industry:                       Construction Services

Incorporation Date:        28-Dec-1960

Company Type:             Public Subsidiary

Quoted Status:              Quoted

Previous Name:             Kolon Engineering & Construction Co Ltd

 

President, Chief Executive Officer, Director:

Byeong Deok Ahn

 

Industry Codes

 

ANZSIC 2006 Codes:

3101     -          Road and Bridge Construction

3020     -          Non-Residential Building Construction

3019     -          Other Residential Building Construction

9111     -          Health and Fitness Centres and Gymnasia Operation

3109     -          Other Heavy and Civil Engineering Construction

2812     -          Sewerage and Drainage Services

7000     -          Computer System Design and Related Services

391       -          Motor Vehicle Retailing

 

NACE 2002 Codes:

4523     -          Construction of motorways, roads, railways, airfields and sports facilities

9304     -          Physical well-being activities

5010     -          Sale of motor vehicles

7210     -          Hardware consultancy

4521     -          General construction of buildings and civil engineering works

9001     -          Collection and treatment of sewage

 

NAICS 2002 Codes:

23731   -          Highway, Street, and Bridge Construction

236210  -          Industrial Building Construction

441110  -          New Car Dealers

236220  -          Commercial and Institutional Building Construction

237990  -          Other Heavy and Civil Engineering Construction

221320  -          Sewage Treatment Facilities

541512  -          Computer Systems Design Services

237310  -          Highway, Street, and Bridge Construction

236116  -          New Multifamily Housing Construction (except Operative Builders)

713940  -          Fitness and Recreational Sports Centers

 

US SIC 1987:

1611     -          Highway and Street Construction, Except Elevated Highways

1629     -          Heavy Construction, Not Elsewhere Classified

1541     -          General Contractors-Industrial Buildings and Warehouses

7991     -          Physical Fitness Facilities

4952     -          Sewerage Systems

1622     -          Bridge, Tunnel, and Elevated Highway Construction

5511     -          Motor Vehicle Dealers (New and Used)

1542     -          General Contractors-Nonresidential Buildings, Other than Industrial Buildings and Warehouses

1522     -          General Contractors-Residential Buildings, Other Than Single-Family

7373     -          Computer Integrated Systems Design

 

UK SIC 2003:

4523     -          Construction of motorways, roads, railways, airfields and sports facilities

9304     -          Physical well-being activities

45212   -          Construction of domestic buildings

9001     -          Collection and treatment of sewage

45213   -          Construction of civil engineering constructions

5010     -          Sale of motor vehicles

7210     -          Hardware consultancy

 

UK SIC 2007:

4211     -          Construction of roads and motorways

41202   -          Construction of domestic buildings

9604     -          Physical well-being activities

3700     -          Sewerage

6202     -          Computer consultancy activities

4511     -          Sale of cars and light motor vehicles

4221     -          Construction of utility projects for fluids

 

Business Description

KOLON GLOBAL CORPORATION, formerly KOLON ENGINEERING &CONSTRUCTION CO.,LTD is a Korea-based company engaged in the construction business. The Company operates its business under six divisions: civil engineering division constructs roads, subways, bridges, expressways, dams and others; architecture division constructs office buildings, commercial buildings, public buildings, educational facilities, sports centers and others; housing division constructs apartments and residential buildings; environmental division constructs sewage treatment facilities and other waste treatment facilities; plant division constructs power plants, chemical plants and others, and overseas business division engages in the overseas construction works. On February 18, 2011, it sold its entire shares of GREEN NARAE.INC. On December 28, 2011, it completed the merger with KOLON I'NETWORKS CORP. and KOLON B&S, Inc., engaged in information technology and trading businesses and automobile sales and sports businesses For the fiscal year ended 31 December 2012, Kolon Global Corp revenues increased from W1.52T to W4.297T. Net loss applicable to common stockholders totaled W23.37B vs. income of W13.2B. Revenues reflect Merchandise Revenues increase from W14.17B to W2.607T, Construction Revenue increase of 9% to W1.587T, Service Revenue increase of 83% to W69.57B. Net loss reflects Salaries increase from W35.51B to W81.75B (expense).

 

More Business Descriptions

Civil engineering and construction; real estate

 

Heavy Civil Engineering & Construction Services

 

Other Heavy and Civil Engineering Construction

 

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

4,297,307.0

Net Income:

-23,135.8

Assets:

2,761,406.5

Long Term Debt:

337,168.2

 

Total Liabilities:

2,336,355.0

 

Working Capital:

251.2

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

182.8%

NA

-1.1%

Market Data

Quote Symbol:

003070

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

4,160.0

Stock Price Date:

03-29-2013

52 Week Price Change %:

-32.4

Market Value (mil):

345,368,384.0

 

SEDOL:

6496391

ISIN:

KR7003070000

 

Equity and Dept Distribution:

All financials reflect consolidated numbers. 01/12 Name changed from KolonEngineering & Construction.

 

 

Subsidiaries

Company

Percentage Owned

Country

Kolon I' Networks Corp

 

SOUTH KOREA

 

 

 

 

Shareholders

 

 

Major Shareholders

Kolon Industries Inc (21%)

 

 

 

Key Corporate Relationships

Auditor:

Deloitte & Touche LLP

 

Auditor:

Deloitte & Touche LLP

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

KOLON CORPORATION
Kolon Global Corp

Kolon Global Corp 
Total Corporate Family Members: 24 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

KOLON CORPORATION

Parent

Gwacheon

Korea, Republic of

Textiles - Non Apparel

4,182.9

42

Kolon Industries Inc

Subsidiary

Gwacheon

Korea, Republic of

Chemicals - Plastics and Rubber

4,714.9

3,639

Kolon (Nanjing) Special Textiles Co., Ltd.

Subsidiary

Nanjing, Jiangsu

China

Textiles - Non Apparel

95.9

1,500

Kolon Glotech, Inc.

Subsidiary

Gwacheon-si, Gyeonggi-do

Korea, Republic of

Apparel and Accessories

773.2

1,165

Beijing Kolon Glotech, Inc.

Subsidiary

Beijing, Beijing

China

Auto and Truck Parts

44.9

70

Cellvic Development Corporation

Subsidiary

Songnam, Kyonggi-Do

Korea, Republic of

Communications Equipment

2.9

10

Kolon Industries Inc.-Chemical Organization

Subsidiary

Kwach'on

Korea, Republic of

Chemical Manufacturing

 

500

Kolon Fashion Material Inc

Subsidiary

Gwacheon

Korea, Republic of

Textiles - Non Apparel

578.8

387

Kolon Plastics Inc

Subsidiary

Gimcheon

Korea, Republic of

Fabricated Plastic and Rubber

188.8

174

Ksi Co., Ltd.

Subsidiary

Sangju, Kyongsangbuk-Do

Korea, Republic of

Fabricated Plastic and Rubber

 

51

Kolon USA Inc.

Subsidiary

Fairfield, NJ

United States

Fabricated Plastic and Rubber

 

8

Kolon Industries Inc. - Gyeongsan Plant

Facility

Gyeongsan, Kyung Sang Buk-do

Korea, Republic of

Textiles - Non Apparel

 

 

Kolon Nanjing Co., Ltd.

Subsidiary

Nanjing, Jiangsu

China

Textiles - Non Apparel

 

 

P.T. Kolon Ina

Subsidiary

Serang, Banten

Indonesia

Containers and Packaging

 

 

Kolon Global Corp

Subsidiary

Gwacheon

Korea, Republic of

Construction Services

3,813.6

2,487

Kolon I' Networks Corp

Subsidiary

Seoul

Korea, Republic of

Computer Services

871.0

294

Korea Eplatform Co., Ltd.

Subsidiary

Seoul, Seoul

Korea, Republic of

Business Services

278.1

130

Kolon Chemical Co., Ltd.

Facility

Gwacheon, Gyeonggi-do

Korea, Republic of

Chemicals - Plastics and Rubber

 

1

Kolon Environmental Service Co. Ltd.

Subsidiary

Gwacheon, Gyeonggi

Korea, Republic of

Engineering Consultants

 

 

KOLON LIFE SCIENCE INC.

Subsidiary

Gwacheon

Korea, Republic of

Biotechnology and Drugs

104.0

291

Kolon Benit Company

Subsidiary

Kwacheon

Korea, Republic of

Software and Programming

 

269

Neoview Kolon Co., Ltd.

Subsidiary

Hongsong, Chungchongnam-Do

Korea, Republic of

Semiconductors

1.0

165

Kolon Water & Energy Co., Ltd.

Subsidiary

Kwachon, Kyonggi-Do

Korea, Republic of

Construction Services

166.7

 

Kolon Environmental Service Co., Ltd.

Subsidiary

Kwachon, Kyonggi-Do

Korea, Republic of

Engineering Consultants

26.5

 

 

 

Competitors Report

 

Company Name

Location

Employees

Ownership

Skanska AB

Solna, Sweden

57,042

Public



Executive report

 

Board of Directors

 

Name

Title

Function

 

Guk-Hyeon Jo

 

Vice President

Chairman

 

Wung Yeol Lee

 

Chairman

Chairman

 

Wung Yeol Lee

 

Chairman of the Board

Chairman

 

Biography:

Lee Wung Yeol is Chairman of the Board at KolonGlobalCorporation CO.,LTD. Lee is Chairman of Kolon Group. Lee currently also serves as Chief Executive Officer of KOLON. Lee holds a Master of Business Administration from George Washington University, the United States.

 

Age: 56

 

Education:

George Washington University, MBA 

 

Gil-Sang Yu

 

Vice President

Chairman

 

 

Byeong Deok Ahn

 

President, Chief Executive Officer, Director

Director/Board Member

 

 

Biography:

Ahn Byeong Deok has been President, Chief Executive Officer and Director of KolonGlobalCorporation CO.,LTD since March 25, 2011. Previously, Ahn was Vice President of KOLON INDUSTRIES, INC. Ahn received a Bachelor's degree in Business Administration and a Master of Business Administration from Yonsei University, Korea.

 

Age: 54

 

Education:

Yonsei University, MBA 
Yonsei University, B (Business Administration)

 

Guk Ho Cho

 

Managing Director

Director/Board Member

 

 

Biography:

Cho Guk Ho is Managing Director of KolonGlobalCorporation CO.,LTD. Cho previously worked for KOLON INTERNATIONAL CORP. Cho holds a Bachelor's degree from Hankuk University of Foreign Studies, Korea.

 

Age: 57

 

Education:

Hankook University of Foreign Studies, B 

 

Byeong Ju Gu

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Gu Byeong Ju has been serving as Non-Executive Independent Director of KolonGlobalCorporation CO.,LTD sicne November 11, 2011. Previously, Gu worked for Sam Hwa Accounting Corporation. Gu holds a Bachelor's degree in Business Administration from Yonsei University, Korea, a Master's degree from Seoul National University, Korea and a Doctorate's degree in Business Administration from Kyungwon University, Korea.

 

Age: 54

 

Education:

Kyungwon University, PHD (Business Administration)
Seoul National University, M 
Yonsei University, B (Business Administration)

 

Jong-Keun Kim

 

CEO

Director/Board Member

 

 

Hwa Jung Kim

 

Managing Director

Director/Board Member

 

 

Biography:

Kim Hwa Jung is Managing Director of KolonGlobalCorporation CO.,LTD. Kim is also Director of KOLON Construction & Consulting Co., Ltd., Chief Executive Officer of KOLON Environmental Service Co.,Ltd. and Chief Executive Officer of Deok Pyeong Land Co., LTD. Kim used to be Assistant Managing Director of the Company and KOLON CHEMICAL CO.,LTD. Kim holds a Bachelor's degree in Business Administration from Yonsei University, Korea.

 

Age: 55

 

Education:

Yonsei University, B (Business Administration)

 

Nam Su Kim

 

VP

Director/Board Member

 

 

Dong Hyeon Kim

 

Vice President, Director

Director/Board Member

 

 

Biography:

Kim Dong Hyeon has been Vice President and Director in KolonGlobalCorporation CO.,LTD since March 22, 2013. Kim was Managing Director of the Company and Assistant Managing Director in DAEWOO ENGINEERING & CONSTRUCTION CO.,LTD. Kim holds a Master's degree from Hanyang University, Korea.

 

Age: 56

 

Education:

Hanyang University, M 

 

Tae Sik Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Lee Tae Sik has been Non-Executive Independent Director of KolonGlobalCorporation CO.,LTD since March 21, 2008. Lee also was a professor in Civil Engineering of Hanyang University, Korea. Lee holds a Doctorate's degree in Construction Management from University of Wisconsin, Madison, the United States, and a Bachelor's degree from Seoul National University, Korea.

 

Age: 58

 

Education:

University of Wisconsin, Madison, PHD (Construction Management)
Seoul National University, B 

 

Sang Tae Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Lee Sang Tae has been Non-Executive Independent Director of KolonGlobalCorporation CO.,LTD since November 11, 2011. Lee is also serving as Non-Executive Independent Director at KOLON I' NETWORKS CORP. Previously, Lee was President of Korea National Defense University. Lee holds a Bachelor's degree from Korea Military Academy.

 

Age: 64

 

Education:

Korea Military Academy, B 

 

Dong Seok Moon

 

Non-Executive Independent Director

Director/Board Member

 

 

Age: 69

 

Education:

Seoul National University, B (Political Science)

 

Yin Seop Shim

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Biography:

Ahn Byeong Deok has been President, Chief Executive Officer and Director of KolonGlobalCorporation CO.,LTD since March 25, 2011. Previously, Ahn was Vice President of KOLON INDUSTRIES, INC. Ahn received a Bachelor's degree in Business Administration and a Master of Business Administration from Yonsei University, Korea.

 

Age: 54

 

Education:

Yonsei University, MBA 
Yonsei University, B (Business Administration)

 

 

 

 

 

Executives

 

Name

Title

Function

 

Byeong Deok Ahn

 

President, Chief Executive Officer, Director

Chief Executive Officer

 

 

Jong-Keun Kim

 

CEO

Chief Executive Officer

 

 

Ju Hong Lee

 

President

President

 

 

Hyo Sang Ahn

 

Assistant Managing Director

Managing Director

 

 

Biography:

Ahn Hyo Sang is Assistant Managing Director of KolonGlobalCorporation CO.,LTD. Previously, Ahn worked for KOLON CORPORATION. Ahn holds a Bachelor's degree from Korea University, Korea.

 

Age: 51

 

Education:

Korea University, B 

 

Hyeon Cheol Cho

 

Assistant Managing Director

Managing Director

 

 

Age: 46

 

Education:

Hanyang University, B 

 

Yin Hwan Cho

 

Assistant Managing Director

Managing Director

 

 

Biography:

Cho Yin Hwan has been Assistant Managing Director of KolonGlobalCorporation CO.,LTD. Cho used to be Section Head of Korea Hydro & Nuclear Power Co., Ltd. Cho holds a Bachelor's degree from Seoul National University of Technology, Korea.

 

Age: 61

 

Education:

Seoul National University of Technology, B 

 

Guk Ho Cho

 

Managing Director

Managing Director

 

 

Biography:

Cho Guk Ho is Managing Director of KolonGlobalCorporation CO.,LTD. Cho previously worked for KOLON INTERNATIONAL CORP. Cho holds a Bachelor's degree from Hankuk University of Foreign Studies, Korea.

 

Age: 57

 

Education:

Hankook University of Foreign Studies, B 

 

Yeong Mu Choi

 

Managing Director

Managing Director

 

 

Biography:

Choi Yeong Mu is Managing Director of KolonGlobalCorporation CO.,LTD. Previously, Choi worked for FnC KOLON CORP. Choi holds a Bachelor's degree from Hankuk University of Foreign Studies, Korea.

 

Age: 48

 

Education:

Hankook University of Foreign Studies, B (French)

 

Yeong Hun Jung

 

Managing Director

Managing Director

 

 

Biography:

Jung Yeong Hun is Managing Director of KolonGlobalCorporation CO.,LTD. Previously, Jung worked for FnC KOLON CORP. Jung holds a Bachelor's degree in International Trade from Yeungnam University, Korea.

 

Age: 48

 

Education:

Yeungnam University, B (International Trade)

 

Yeong Beom Kim

 

Assistant Managing Director

Managing Director

 

 

Biography:

Kim Yeong Beom is Assistant Managing Director of KolonGlobalCorporation CO.,LTD. Kim previously worked for Kolon Group. Kim holds a Bachelor's degree in Business Administration from Yonsei University, Korea.

 

Age: 46

 

Education:

Yonsei University, B (Business Administration)

 

Seong Sik Kim

 

Assistant Managing Director

Managing Director

 

 

Biography:

Kim Seong Sik is Assistant Managing Director of KolonGlobalCorporation CO.,LTD. Previously, Kim worked for KEANGNAM ENTERPRISES LTD. Kim holds a Bachelor's degree from Pusan National University, Korea.

 

Age: 47

 

Education:

Pusan National University, B 

 

Tae Hong Kim

 

Managing Director

Managing Director

 

 

Age: 53

 

Education:

Kyung Hee University, B 

 

Myeong Yong Kim

 

Assistant Managing Director

Managing Director

 

 

Age: 60

 

Education:

Yonsei University, M 

 

Mu Seong Kim

 

Assistant Managing Director

Managing Director

 

 

Hwa Jung Kim

 

Managing Director

Managing Director

 

 

Biography:

Kim Hwa Jung is Managing Director of KolonGlobalCorporation CO.,LTD. Kim is also Director of KOLON Construction & Consulting Co., Ltd., Chief Executive Officer of KOLON Environmental Service Co.,Ltd. and Chief Executive Officer of Deok Pyeong Land Co., LTD. Kim used to be Assistant Managing Director of the Company and KOLON CHEMICAL CO.,LTD. Kim holds a Bachelor's degree in Business Administration from Yonsei University, Korea.

 

Age: 55

 

Education:

Yonsei University, B (Business Administration)

 

Jae Cheol Lee

 

Managing Director

Managing Director

 

 

Age: 58

 

Education:

Pusan National University, B 

 

Seok Jun Lee

 

Assistant Managing Director

Managing Director

 

 

Biography:

Lee Seok Jun is Assistant Managing Director of KolonGlobalCorporation CO.,LTD. Previously, Lee worked for FnC KOLON CORP. Lee holds a Bachelor's degree from Pusan National University, Korea.

 

Age: 48

 

Education:

Pusan National University, B 

 

Hyeon Wu Lee

 

Managing Director

Managing Director

 

 

Biography:

Lee Hyeon Wu is Managing Director of KolonGlobalCorporation CO.,LTD. Previously, Lee served as Managing Director of KOLON INDUSTRIES, INC. Lee holds a Bachelor's degree in Machine Design from Pusan University, Korea.

 

Age: 55

 

Education:

Pusan National University, B (Machine Design)

 

Cheol Seung Lee

 

Managing Director

Managing Director

 

 

Biography:

Lee Cheol Seung is Managing Director of KolonGlobalCorporation CO.,LTD. Lee was Assistant Managing Director in the Company. Lee worked for Dongyang Group. Lee holds a Bachelor's degree from Northwestern University, the United States.

 

Age: 50

 

Education:

Northwestern University, B 

 

Jae Gyeong Song

 

Assistant Managing Director

Managing Director

 

 

Age: 55

 

Education:

ChungNam National University, B 

 

Gi Seong Yim

 

Assistant Managing Director

Managing Director

 

 

Age: 53

 

Education:

Dong-A University, B 

 

Seong Hyeon Yim

 

Assistant Managing Director

Managing Director

 

 

Age: 46

 

Education:

Korea University, B 

 

Bo Sik Jeon

 

Internal Auditor

Accounting Executive

 

 

Biography:

Jeon Bo Sik has been Internal Auditor of KolonGlobalCorporation CO.,LTD since March 20, 2009. Jeon was an auditing member of SK Networks and Assistant Deputy Manager of Hana Bank previously. Jeon holds a Bachelor's degree in Business Administration from Korea University, Korea.

 

Age: 58

 

Education:

Korea University, B (Business Administration)

 

Dong Gwon Jang

 

Vice President

Other

 

 

Biography:

Jang Dong Gwon is Vice President of KolonGlobalCorporation CO.,LTD. Previously, Jang served HYUNDAI ENGINEERING & CONSTRUCTION CO.,LTD as Managing Director. Jang holds a Bachelor's degree from Hanyang University, Korea.

 

Age: 52

 

Education:

Hanyang University, B 

 

Ho Seon Lee

 

Vice President

Other

 

 

Biography:

Lee Ho Seon is Vice President of KolonGlobalCorporation CO.,LTD. Previously, Lee worked for KOLON I' NETWORKS CORP. Lee holds a Bachelors's degree from SungKyunKwan University, Korea.

 

Age: 52

 

Education:

Sungkyunkwan University, B (Philosophy)

 

Gil Sang Yoo

 

Vice President

Other

 

 

Biography:

Yoo Gil Sang is Vice President of KolonGlobalCorporation CO.,LTD. Yoo previously served as Vice President of KOLON Water & Energy CO.,LTD. Yoo holds a Master's degree from Yonsei University, Korea.

 

Age: 63

 

Education:

Yonsei University, M 

 

 

 

 

Significant Developments

 

Kolon Global Corporation Sells Stake in Hana Capital.co., Ltd. Mar 25, 2013

 

Kolon Global Corporation announced that it has sold 1,265,100 shares of Hana Capital.co., Ltd., for KRW 29,999,316,300, to maximize fund efficiency. After the transaction, the Company holds 197,700 shares, or 1.36% of Hana Capital.co., Ltd.

 

Kolon Global Corporation Signs Contract with Ghana Water Company Limited (GWCL) Dec 17, 2012

 

Kolon Global Corporation announced that it has signed a contract with Ghana Water Company Limited (GWCL) to design, execution and completion of the WA water supply expansion project.

 

Kolon Global Corporation Signs Contract with Public Procurement Service Jun 29, 2012

 

Kolon Global Corporation announced that it has signed a contract with Public Procurement Service to construct national highway. The contract amount is KRW 89,411,357,593.

 

Kolon Global Corporation Wins Deal to Construct National Highway Jun 25, 2012

 

Kolon Global Corporation announced that it has won a deal from Busan Regional Construction and Management Administration, worth KRW 89,411,357,593, to construct national highway.

 

Kolon Global Corporation Signs Contract with Korea Land & Housing Corporation May 29, 2012

 

Kolon Global Corporation announced that it has signed a contract with Korea Land & Housing Corporation to provide construction service. The contract amount is KRW 75,108,733,871.

 

Kolon Global Corporation to Dispose Treasury Shares Apr 09, 2012

 

Kolon Global Corporation announced that it will sell 351,235 shares of its common stock for KRW 2,146,045,850 to secure funds for its business.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Restated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2010

Restated Normal 
31-Dec-2009

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

3,806.9

1,371.5

1,040.0

1,087.9

1,312.1

Revenue

3,806.9

1,371.5

1,040.0

1,087.9

1,312.1

    Other Revenue

6.7

0.2

8.8

5.0

9.1

Other Revenue, Total

6.7

0.2

8.8

5.0

9.1

Total Revenue

3,813.6

1,371.7

1,048.8

1,092.8

1,321.2

 

 

 

 

 

 

    Cost of Revenue

3,491.4

1,214.0

923.2

945.3

1,144.1

Cost of Revenue, Total

3,491.4

1,214.0

923.2

945.3

1,144.1

Gross Profit

315.5

157.5

116.8

142.6

168.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

216.9

117.4

66.6

64.0

57.3

    Labor & Related Expense

89.5

43.9

41.8

30.1

38.4

    Advertising Expense

8.0

1.5

1.7

1.2

1.4

Total Selling/General/Administrative Expenses

314.3

162.8

110.1

95.3

97.1

Research & Development

3.6

5.6

3.5

2.0

3.6

    Depreciation

4.9

2.1

2.3

2.3

2.6

    Amortization of Intangibles

1.6

0.5

0.5

0.4

1.9

Depreciation/Amortization

6.5

2.6

2.8

2.7

4.5

        Investment Income - Operating

-

-

3.6

-

-

    Interest/Investment Income - Operating

-

-

3.6

-

-

Interest Expense (Income) - Net Operating Total

-

-

3.6

-

-

    Impairment-Assets Held for Sale

-

-

14.7

-

-

    Loss (Gain) on Sale of Assets - Operating

-

-

-2.7

-

-

    Other Unusual Expense (Income)

3.5

5.0

1.9

2.3

2.3

Unusual Expense (Income)

3.5

5.0

13.9

2.3

2.3

    Other Operating Expense

-

-

1.6

0.1

0.0

    Other, Net

-

-

-6.7

-

-

Other Operating Expenses, Total

-

-

-5.1

0.1

0.0

Total Operating Expense

3,819.3

1,390.0

1,052.1

1,047.7

1,251.5

 

 

 

 

 

 

Operating Income

-5.7

-18.3

-3.3

45.1

69.6

 

 

 

 

 

 

        Interest Expense - Non-Operating

-68.9

-63.1

-59.6

-44.0

-41.8

    Interest Expense, Net Non-Operating

-68.9

-63.1

-59.6

-44.0

-41.8

        Interest Income - Non-Operating

13.5

5.9

2.1

3.9

4.8

        Investment Income - Non-Operating

-1.9

3.0

-0.8

-1.5

18.0

    Interest/Investment Income - Non-Operating

11.6

9.0

1.3

2.5

22.8

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

0.0

-

-

Interest Income (Expense) - Net Non-Operating Total

-57.3

-54.1

-58.4

-41.5

-19.0

Gain (Loss) on Sale of Assets

-1.3

0.5

-

-1.7

-12.2

    Other Non-Operating Income (Expense)

30.4

92.5

-

-22.2

-10.9

Other, Net

30.4

92.5

-

-22.2

-10.9

Income Before Tax

-34.0

20.6

-61.7

-20.2

27.5

 

 

 

 

 

 

Total Income Tax

-13.3

8.2

-10.4

-1.2

19.0

Income After Tax

-20.7

12.4

-51.3

-19.0

8.5

 

 

 

 

 

 

    Minority Interest

0.1

-0.4

-0.2

-0.3

-0.3

Net Income Before Extraord Items

-20.5

12.0

-51.5

-19.3

8.2

    Discontinued Operations

-

-

-

24.7

5.2

Total Extraord Items

-

-

-

24.7

5.2

Net Income

-20.5

12.0

-51.5

5.4

13.4

 

 

 

 

 

 

    Preferred Dividends

-0.2

-0.1

-0.2

-0.2

-0.3

Total Adjustments to Net Income

-0.2

-0.1

-0.2

-0.2

-0.3

Income Available to Common Excl Extraord Items

-20.7

11.9

-51.7

-19.5

7.9

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

-20.7

11.9

-51.7

5.3

13.1

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

75.5

28.0

23.3

22.5

22.5

Basic EPS Excl Extraord Items

-0.27

0.43

-2.22

-0.87

0.35

Basic/Primary EPS Incl Extraord Items

-0.27

0.43

-2.22

0.23

0.58

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-20.7

11.9

-51.7

5.3

13.1

Diluted Weighted Average Shares

75.5

28.0

23.3

22.5

22.5

Diluted EPS Excl Extraord Items

-0.27

0.43

-2.22

-0.87

0.35

Diluted EPS Incl Extraord Items

-0.27

0.43

-2.22

0.23

0.58

Dividends per Share - Common Stock Primary Issue

-

0.09

0.00

0.08

0.14

Gross Dividends - Common Stock

-

6.9

0.0

1.8

3.1

Interest Expense, Supplemental

68.9

63.1

59.6

44.0

41.8

Depreciation, Supplemental

7.9

2.7

3.5

3.2

5.1

Total Special Items

4.8

4.5

13.9

3.9

14.4

Normalized Income Before Tax

-29.2

25.1

-47.7

-16.3

41.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

1.7

1.8

4.9

1.4

5.1

Inc Tax Ex Impact of Sp Items

-11.6

10.0

-5.5

0.1

24.1

Normalized Income After Tax

-17.6

15.1

-42.2

-16.5

17.8

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-17.6

14.6

-42.7

-16.9

17.2

 

 

 

 

 

 

Basic Normalized EPS

-0.23

0.52

-1.83

-0.75

0.77

Diluted Normalized EPS

-0.23

0.52

-1.83

-0.75

0.77

Amort of Acquisition Costs, Supplemental

-

-

-

0.0

-0.1

Amort of Intangibles, Supplemental

1.7

0.5

0.5

0.4

6.3

Rental Expenses

23.1

10.4

9.0

6.4

5.8

Advertising Expense, Supplemental

8.0

1.5

1.7

1.2

1.4

Research & Development Exp, Supplemental

3.6

5.6

3.5

2.0

3.6

Normalized EBIT

-2.3

-13.3

14.2

47.4

71.9

Normalized EBITDA

7.3

-10.1

18.2

51.0

83.2

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1066.400024

1152

1134.9

1164.475

1259.55

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

102.0

114.3

72.9

34.7

92.1

    Short Term Investments

70.5

52.5

25.2

14.4

17.0

Cash and Short Term Investments

172.5

166.8

98.1

49.1

109.1

        Accounts Receivable - Trade, Gross

-

926.2

439.2

5.8

43.4

        Provision for Doubtful Accounts

-

-90.6

-32.3

-0.2

-0.3

    Trade Accounts Receivable - Net

1,435.1

1,106.2

686.8

612.4

490.7

    Other Receivables

-

174.6

146.1

108.0

101.1

Total Receivables, Net

1,435.1

1,280.8

832.9

720.4

591.8

    Inventories - Finished Goods

-

175.6

21.4

26.6

48.5

    Inventories - Work In Progress

-

3.4

2.9

7.3

5.4

    Inventories - Raw Materials

-

68.9

47.2

42.5

51.4

    Inventories - Other

-

60.8

37.3

35.3

28.9

Total Inventory

195.8

308.7

108.8

111.7

134.2

Prepaid Expenses

0.0

89.8

84.7

75.6

57.7

    Deferred Income Tax - Current Asset

-

-

-

27.6

18.5

    Discontinued Operations - Current Asset

-

-

88.8

-

-

    Other Current Assets

126.2

0.0

0.0

0.4

3.0

Other Current Assets, Total

126.2

0.0

88.8

28.0

21.5

Total Current Assets

1,929.7

1,846.2

1,213.4

984.8

914.4

 

 

 

 

 

 

        Buildings

-

85.2

44.3

58.7

50.8

        Land/Improvements

-

97.5

107.5

123.5

95.3

        Machinery/Equipment

-

27.2

20.4

18.5

23.0

        Construction in Progress

-

6.6

0.8

0.1

7.1

        Other Property/Plant/Equipment

-

0.0

0.0

-

-

    Property/Plant/Equipment - Gross

-

216.5

173.1

200.7

176.2

    Accumulated Depreciation

-

-22.9

-22.6

-23.8

-24.4

Property/Plant/Equipment - Net

225.8

193.6

150.6

176.9

151.8

Goodwill, Net

-

14.1

2.5

0.9

13.6

Intangibles, Net

98.5

73.6

28.5

7.5

1.2

    LT Investment - Affiliate Companies

39.4

46.2

39.4

38.3

29.1

    LT Investments - Other

129.1

122.9

152.0

199.7

132.0

Long Term Investments

168.5

169.1

191.4

238.0

161.1

Note Receivable - Long Term

89.9

47.7

50.4

31.9

27.3

    Deferred Income Tax - Long Term Asset

77.1

50.8

47.2

7.3

14.1

    Other Long Term Assets

-

29.7

10.4

33.0

31.3

Other Long Term Assets, Total

77.1

80.5

57.6

40.4

45.4

Total Assets

2,589.5

2,424.9

1,694.3

1,480.4

1,314.8

 

 

 

 

 

 

Accounts Payable

794.8

757.0

333.6

348.6

333.7

Accrued Expenses

-

0.5

0.1

13.4

15.8

Notes Payable/Short Term Debt

682.9

502.4

193.5

207.8

220.1

Current Portion - Long Term Debt/Capital Leases

-

276.6

255.0

152.5

111.7

    Dividends Payable

-

-

-

-

0.0

    Customer Advances

-

134.9

148.6

128.8

36.5

    Security Deposits

-

-

-

10.4

9.1

    Income Taxes Payable

5.8

6.5

0.6

10.4

5.8

    Other Payables

-

-

-

25.7

25.6

    Other Current Liabilities

254.1

54.7

51.6

13.6

4.4

Other Current liabilities, Total

259.9

196.1

200.8

188.9

81.4

Total Current Liabilities

1,737.5

1,732.6

982.9

911.3

762.7

 

 

 

 

 

 

    Long Term Debt

316.2

174.6

339.9

206.6

236.4

Total Long Term Debt

316.2

174.6

339.9

206.6

236.4

Total Debt

999.1

953.7

788.4

567.0

568.2

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.0

0.0

1.1

-

-

Deferred Income Tax

0.0

0.0

1.1

-

-

Minority Interest

18.7

21.0

2.5

2.5

1.8

    Reserves

36.2

28.6

21.5

16.6

14.6

    Pension Benefits - Underfunded

45.6

39.4

28.3

14.8

16.6

    Other Long Term Liabilities

36.7

34.1

62.5

54.9

50.9

Other Liabilities, Total

118.5

102.0

112.3

86.4

82.1

Total Liabilities

2,190.9

2,030.2

1,438.6

1,206.8

1,083.0

 

 

 

 

 

 

    Preferred Stock - Non Redeemable

-

6.8

6.9

6.8

6.3

Preferred Stock - Non Redeemable, Net

-

6.8

6.9

6.8

6.3

    Common Stock

392.7

356.7

121.5

97.1

89.8

Common Stock

392.7

356.7

121.5

97.1

89.8

Additional Paid-In Capital

-11.1

26.8

59.0

56.4

52.2

Retained Earnings (Accumulated Deficit)

6.4

35.8

23.9

100.2

90.1

Treasury Stock - Common

-

-26.9

-1.2

-1.2

-1.1

Unrealized Gain (Loss)

-

7.7

14.1

23.1

2.6

    Translation Adjustment

-

0.0

0.0

-0.1

0.0

    Other Equity

10.6

-12.3

-11.3

-8.6

-8.0

    Other Comprehensive Income

-

-

42.8

-

-

Other Equity, Total

10.6

-12.2

31.4

-8.7

-8.0

Total Equity

398.6

394.7

255.7

273.7

231.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

2,589.5

2,424.9

1,694.3

1,480.4

1,314.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

75.8

75.3

27.5

22.5

22.5

Total Common Shares Outstanding

75.8

75.3

27.5

22.5

22.5

Treasury Shares - Common Stock Primary Issue

6.4

6.9

0.1

0.1

0.1

    Shares Outstanding - Preferred Stock Primary Issue

1.5

1.5

1.6

1.6

1.6

Total Preferred Stock Outstanding

1.5

1.5

1.6

1.6

1.6

Treasury Shares - Preferred Primary Issue

0.0

0.0

0.0

-

-

Employees

-

2,487

1,300

906

888

Number of Common Shareholders

-

-

12,519

13,991

15,459

Accumulated Intangible Amort, Suppl.

-

3.8

1.6

-

-

Deferred Revenue - Current

-

134.9

148.6

128.8

36.5

Total Long Term Debt, Supplemental

-

-

-

359.6

287.8

Long Term Debt Maturing within 1 Year

-

-

-

152.7

110.9

Long Term Debt Maturing in Year 2

-

-

-

128.6

172.0

Long Term Debt Maturing in Year 3

-

-

-

46.7

0.6

Long Term Debt Maturing in Year 4

-

-

-

3.7

0.6

Long Term Debt Maturing in 2-3 Years

-

-

-

175.3

172.6

Long Term Debt Maturing in 4-5 Years

-

-

-

3.7

0.6

Long Term Debt Matur. in Year 6 & Beyond

-

-

-

27.9

3.7

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2010

Updated Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

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/Starting Line

-20.7

12.4

-51.3

5.7

13.7

    Depreciation

7.9

2.7

3.5

3.2

5.1

Depreciation/Depletion

7.9

2.7

3.5

3.2

5.1

    Amortization of Intangibles

1.7

0.5

0.5

0.4

6.3

    Amortization of Acquisition Costs

-

-

-

-0.1

-0.1

Amortization

1.7

0.5

0.5

0.4

6.2

Deferred Taxes

-

-

-

-7.1

8.1

    Unusual Items

-7.3

-66.2

13.1

-7.5

-8.2

    Equity in Net Earnings (Loss)

7.2

1.8

1.9

-0.5

2.2

    Other Non-Cash Items

57.1

58.9

54.4

36.7

38.6

Non-Cash Items

57.0

-5.5

69.3

28.7

32.7

    Accounts Receivable

-65.1

-84.6

-13.1

-127.2

-213.2

    Inventories

82.8

-6.7

6.8

19.1

11.1

    Prepaid Expenses

-

-

-

-13.5

-14.6

    Other Assets

26.9

-2.1

-7.6

2.5

0.0

    Accounts Payable

-19.7

177.4

-76.3

1.0

87.2

    Accrued Expenses

-

-

-

-2.2

8.2

    Taxes Payable

-

-

-

0.3

-0.8

    Other Liabilities

29.8

13.7

-6.4

84.8

-81.0

    Other Operating Cash Flow

-71.8

-54.7

-66.7

0.0

0.1

Changes in Working Capital

-17.1

43.2

-163.2

-35.2

-202.9

Cash from Operating Activities

28.8

53.3

-141.2

-4.3

-137.2

 

 

 

 

 

 

    Purchase of Fixed Assets

-34.6

-7.0

-2.6

-20.5

-12.4

    Purchase/Acquisition of Intangibles

-5.4

-1.0

-0.9

-

-0.3

Capital Expenditures

-40.0

-8.1

-3.5

-20.5

-12.7

    Acquisition of Business

-

30.7

-

-

-

    Sale of Business

-

-

-

78.9

-

    Sale of Fixed Assets

2.9

1.2

11.1

0.2

0.2

    Sale/Maturity of Investment

130.6

218.4

83.6

26.0

43.2

    Purchase of Investments

-129.3

-158.7

-92.6

-77.9

-35.1

    Sale of Intangible Assets

0.1

0.8

-

11.0

-

    Other Investing Cash Flow

0.0

43.8

-0.8

-20.8

-21.6

Other Investing Cash Flow Items, Total

4.3

136.0

1.4

17.4

-13.2

Cash from Investing Activities

-35.8

128.0

-2.1

-3.1

-26.0

 

 

 

 

 

 

    Other Financing Cash Flow

15.7

-1.2

-

-5.3

3.9

Financing Cash Flow Items

15.7

-1.2

-

-5.3

3.9

Total Cash Dividends Paid

-7.5

-0.1

-2.1

-2.9

-3.4

        Sale/Issuance of Common

-

-

-

-

3.6

        Repurchase/Retirement of Common

-

-0.9

-

-

-

    Common Stock, Net

-

-0.9

-

-

3.6

    Warrants Converted

-

0.0

4.6

-

-

Issuance (Retirement) of Stock, Net

-

-0.9

4.6

-

3.6

        Short Term Debt Issued

-

-

-

672.9

1,119.2

        Short Term Debt Reduction

-

-

-

-701.4

-906.1

    Short Term Debt, Net

-

-

-

-28.5

213.1

        Long Term Debt Issued

-

-

-

95.4

108.7

        Long Term Debt Reduction

-

-

-

-110.7

-127.6

    Long Term Debt, Net

-

-

-

-15.3

-18.9

    Total Debt Issued

1,524.9

553.3

1,091.7

-

-

    Total Debt Reduction

-1,546.1

-688.3

-917.3

-

-

Issuance (Retirement) of Debt, Net

-21.2

-135.0

174.4

-43.8

194.1

Cash from Financing Activities

-13.0

-137.1

176.8

-52.0

198.3

 

 

 

 

 

 

Foreign Exchange Effects

-0.3

-

0.0

-

-

Net Change in Cash

-20.3

44.2

33.5

-59.4

35.2

 

 

 

 

 

 

Net Cash - Beginning Balance

116.9

74.7

38.1

91.1

70.5

Net Cash - Ending Balance

96.5

118.9

71.6

31.7

105.6

Cash Interest Paid

69.4

59.5

55.8

-

-

Cash Taxes Paid

8.4

1.3

12.8

-

-

 

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Restated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2010

Restated Normal 
31-Dec-2009

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Real Estate Sales

-

-

-

50.5

89.9

    Production Revenue

-

-

-

6.5

11.3

    Finished Product Revenues

23.3

5.9

10.7

5.5

5.8

    Merchandise Revenues

2,313.2

12.8

11.1

7.9

5.6

    Admission Revenue

-

-

-

-

5.8

    Construction Revenue

1,408.6

1,318.6

981.7

1,004.1

1,181.9

    Service Revenue

61.7

34.2

36.6

13.3

11.8

    Other Revenue

6.7

0.2

8.8

5.0

9.1

    Adj. for Revenues

0.0

0.0

0.0

-

-

Total Revenue

3,813.6

1,371.7

1,048.8

1,092.8

1,321.2

 

 

 

 

 

 

    Cost-Other Sales

-

-

-

4.4

6.8

    Cost-Real Estate Sales

-

-

-

40.3

68.5

    Cost Domestic Prod.

-

-

-

6.7

9.6

    Cost-Merchandise

-

-

-

1.7

1.8

    Cost-Finished Products

-

-

-

4.3

0.2

    Cost Admission Rev.

-

-

-

-

2.1

    Cost-Construction

-

-

-

877.3

1,038.6

    Cost-Services

-

-

-

10.6

16.4

    Costs of Goods & Services Sold

3,491.4

1,214.0

923.2

-

-

    Salaries

72.5

32.1

33.8

24.2

29.4

    Retirement Allowance

5.6

6.9

2.3

1.9

3.4

    Employee Benefits

11.3

4.9

5.8

4.0

5.5

    Travel Expense

4.1

1.6

1.7

1.4

2.0

    Communication Exp.

1.7

0.5

0.4

0.3

0.3

    Utility Expense

1.6

0.9

1.1

0.8

0.9

    Taxes and Dues

3.7

2.7

3.0

2.4

2.7

    Rent

23.1

10.4

9.0

6.4

5.8

    Depreciation Expense

4.9

2.1

2.3

2.3

2.6

    Repair Expense

0.4

0.1

0.2

0.1

0.1

    Insurance Expenses

4.4

2.7

2.8

2.3

2.4

    Entertainment Expense

3.1

1.3

2.3

1.2

1.7

    Advertising Expense

2.6

1.5

1.7

1.2

1.4

    Sales Promotional Expense

5.4

-

-

-

-

    Commission Paid

47.3

20.9

22.8

22.3

32.2

    Amort of Intangibles

1.6

0.5

0.5

0.4

1.9

    Education & Training Expense

1.4

0.8

0.7

0.3

0.5

    Vehicles Maintenance Expense

2.4

0.5

0.6

0.5

0.6

    Publishing & Printing Expense

0.6

0.4

0.3

0.3

0.3

    Office Expense

0.9

0.8

0.5

0.4

0.6

    Building Maintenance Expense

-

-

-

0.8

0.4

    Defective Repair Expense

3.5

5.0

1.9

2.3

2.3

    Consumable Expense

0.9

0.3

0.2

0.1

0.2

    Shipping & Handling Expense

23.9

0.1

0.1

0.1

0.2

    Miscellaneous Operating Expense

-

-

-

0.1

0.0

    Prov. for Product Warranties

7.0

-

-

-

-

    Research Expense

-

-

-

2.0

3.6

    R & D Expense

3.6

5.6

3.5

-

-

    Conference Expense

-

-

-

-

0.0

    Order Receipt Expense

13.5

12.2

19.0

10.4

5.1

    Amort. of Bad Debts

75.0

61.2

1.8

14.1

1.2

    Other Miscellaneous Expense

1.8

0.1

0.0

-

-

    Adj. for Other Selling & Admin. Expense

0.0

0.0

0.0

-

-

    Rental Income

-

-

-1.8

-

-

    Gain on Foreign Currency Transaction

-

-

-0.5

-

-

    Gain on Foreign Currency Translation

-

-

0.0

-

-

    Gain on Disposal of PPT

-

-

-2.9

-

-

    Gain-Disposal of FA Avail. for Sale

-

-

0.0

-

-

    Other Operating Income

-

-

-4.9

-

-

    Adj. for Other Operating Income

-

-

0.0

-

-

    Other Allow. for DA

-

-

1.2

-

-

    Loss on Foreign Currency Transaction

-

-

0.8

-

-

    Loss on Valt of Current Invmt Assets

-

-

0.5

-

-

    Loss on Disposal of Current Invmt Assets

-

-

0.7

-

-

    Loss-Disposal of FA Avail. for Sale

-

-

0.1

-

-

    Impmt Loss-FA Avail. for Sale

-

-

14.7

-

-

    Loss on Disposal of Trade Receivable

-

-

0.0

-

-

    Loss on Valt of Derivatives

-

-

1.9

-

-

    Loss on Foreign Currency Translation

-

-

0.0

-

-

    Loss on Disposal of PPT

-

-

0.3

-

-

    Donations Paid

-

-

0.1

-

-

    Other Operating Expense

-

-

0.4

-

-

    Adj. for Other Operating Expense

-

-

0.0

-

-

Total Operating Expense

3,819.3

1,390.0

1,052.1

1,047.7

1,251.5

 

 

 

 

 

 

    Interest Income

13.5

5.9

2.1

3.9

4.8

    Dividend Income

0.7

0.2

0.0

0.0

0.2

    Rental Income

0.4

0.7

-

1.6

1.5

    Recovery-Invest. Real Estate Reduction L

-

-

-

-

1.2

    Gain-Disposal of F.A. Avail. for Sale

0.0

4.5

-

0.0

22.1

    Gain on Disposal of Assets Held for Sale

-

58.5

-

-

-

    Gain on Foreign Currency Transaction

15.3

0.6

-

2.8

0.7

    Gain on Foreign Currency Translation

4.1

-

-

-

0.0

    Gain on Valt of Derivatives

0.3

0.0

-

-

3.0

    Gain on Derivatives Transaction

5.1

-

-

0.1

-

    G-Inventory Disposal

-

-

-

0.3

0.2

    Rec. of Allow. for DA

20.1

6.5

-

-

-

    Recovery-Negative Goodwill Amortization

-

-

-

0.1

0.1

    Gain on Disposal of Real Estate

0.0

0.2

-

-

-

    Gain on Disposal of PPE

0.1

0.4

-

0.1

0.0

    Gain on Disposal of Intangibless

0.0

0.3

-

-

-

    Gain-Disposal of Invmt in Subsidiaries

1.6

8.7

-

-

-

    Rec. of Impmt Loss-F.A. Held-to-Maturity

1.3

-

-

-

-

    G-Inv Asset Disposal

-

-

-

0.1

0.5

    Gain-Disposal of Trademark Right

-

-

-

11.0

-

    Gain/Loss on Bargain Purchase

-

19.7

-

-

-

    Recovery-Other Intangible Assets

-

-

-

0.5

-

    Other Non-Operating Income

12.7

7.9

-

6.1

9.5

    Interest Expense, Non-Operating

-68.9

-63.1

-59.6

-44.0

-41.8

    Other Amortization

-

-

-

-33.9

-20.6

    Other Allow. for DA

-

-0.1

-

-

-

    Loss on Foreign Currency Translation

-1.9

-

-

0.0

-3.1

    Loss on Foreign Currency Transaction

-9.2

-1.3

-

-0.4

-0.6

    Loss-Disposal of F.A. Avail. for Sale

-0.4

-0.5

-

-1.3

-1.4

    Donations Paid

-1.1

-0.1

-

-1.9

-0.2

    Compensation Expense

-

-

-

-

-0.3

    Impmt Loss-Fincl Instrm Avail. for Sale

-0.3

-3.3

-

-

-0.1

    Loss on Valt of Derivatives

-5.4

-2.1

-

-

-0.1

    Loss on Derivative Transaction

-10.4

-

-

-2.6

-

    Loss-Reduction of Intangible Assets

-

-

-

-

-0.7

    Imp. Loss on Sec. Held-to-Maturities

-

-1.4

-

-

-

    Loss on Disposal of Intangibless

-

-0.2

-

-

-

    Loss on Disposal of Trade Receivable

-1.0

-

-

-1.8

-12.3

    L-Inventory Disposal

-

-

-

-0.2

-0.1

    Loss on Disposal of Real Estate

-0.8

-0.1

-

-

-

    L-Disp Investment Assets

-

-

-

-

0.0

    Loss-Redemption of Debentures

-

-

-

-

-0.1

    Loss on Disposal of PPE

-0.4

0.0

-

-0.1

-0.1

    Loss-Valuation of Tangible Assets

-

-

-

-0.6

-

    Other Non-Operating Expense

-1.7

-0.5

-

-5.7

-2.1

    Gain under Equity Method

-2.0

-2.6

-

0.6

0.6

    Loss under Equity Method

-

-

-0.8

-0.1

-3.1

    Adj for Other Non-Operating Income

0.0

0.0

-

-

-

    Adj. for Finance Income

0.0

0.0

0.0

-

-

    Adj for Other Non-Operating Expense

0.0

0.0

-

-

-

Net Income Before Taxes

-34.0

20.6

-61.7

-20.2

27.5

 

 

 

 

 

 

Provision for Income Taxes

-13.3

8.2

-10.4

-1.2

19.0

Net Income After Taxes

-20.7

12.4

-51.3

-19.0

8.5

 

 

 

 

 

 

    Loss Minority Int.

0.1

-0.4

-0.2

-0.3

-0.3

Net Income Before Extra. Items

-20.5

12.0

-51.5

-19.3

8.2

    Gain on Discontinued Operations

-

-

-

24.7

5.2

Net Income

-20.5

12.0

-51.5

5.4

13.4

 

 

 

 

 

 

    Preferred Dividends

-0.2

-0.1

-0.2

-0.2

-0.3

Income Available to Com Excl ExtraOrd

-20.7

11.9

-51.7

-19.5

7.9

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

-20.7

11.9

-51.7

5.3

13.1

 

 

 

 

 

 

Basic Weighted Average Shares

75.5

28.0

23.3

22.5

22.5

Basic EPS Excluding ExtraOrdinary Items

-0.27

0.43

-2.22

-0.87

0.35

Basic EPS Including ExtraOrdinary Item

-0.27

0.43

-2.22

0.23

0.58

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

-20.7

11.9

-51.7

5.3

13.1

Diluted Weighted Average Shares

75.5

28.0

23.3

22.5

22.5

Diluted EPS Excluding ExtraOrd Items

-0.27

0.43

-2.22

-0.87

0.35

Diluted EPS Including ExtraOrd Items

-0.27

0.43

-2.22

0.23

0.58

DPS-Common Stock

-

0.09

0.00

0.08

0.14

Gross Dividends - Common Stock

-

6.9

0.0

1.8

3.1

Normalized Income Before Taxes

-29.2

25.1

-47.7

-16.3

41.9

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

-11.6

10.0

-5.5

0.1

24.1

Normalized Income After Taxes

-17.6

15.1

-42.2

-16.5

17.8

 

 

 

 

 

 

Normalized Inc. Avail to Com.

-17.6

14.6

-42.7

-16.9

17.2

 

 

 

 

 

 

Basic Normalized EPS

-0.23

0.52

-1.83

-0.75

0.77

Diluted Normalized EPS

-0.23

0.52

-1.83

-0.75

0.77

R&D Expense, Supplemental

3.6

5.6

3.5

2.0

3.6

Advertising Expense, Supplemental

8.0

1.5

1.7

1.2

1.4

Interest Expense, Supplemental

68.9

63.1

59.6

44.0

41.8

Rental Expense, Supplemental

23.1

10.4

9.0

6.4

5.8

Depreciation, Supplemental

7.9

2.7

3.5

3.2

5.1

Amort of Intangibles, Supplemental

1.7

0.5

0.5

0.4

6.3

Amort of Goodwill

-

-

-

0.0

-

Amort of Negative Goodwill

-

-

-

-0.1

-0.1

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1066.400024

1152

1134.9

1164.475

1259.55

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash/Equivalents

102.0

114.3

72.9

34.7

92.1

    Marketable Secs.

-

-

-

8.6

-

    ST Finl Assets

-

-

-

5.2

16.9

    Securities avail. for Sale

-

-

-

0.7

0.1

    Trade Rcvb Gross

-

926.2

439.2

5.8

43.4

    Doubtful Account

-

-90.6

-32.3

-0.2

-0.3

    Construct. Rcvbl

-

-

-

593.7

434.8

    RE Rcvbl.

-

-

-

12.7

12.4

    Receivable-Recovery of Taxes

-

-

-

0.1

0.0

    Other Rcvbl

-

118.8

105.5

69.2

61.8

    Allow. for DA for Account Receivable

-

-20.3

-21.1

-

-

    Accrued Income

-

1.5

0.7

0.3

0.4

    Advance Payments

-

49.2

38.1

36.1

28.6

    Prepaid Expenses

-

20.3

7.5

8.8

8.1

    Prepaid Construc

-

69.5

77.2

66.8

49.6

    ST Loans

-

111.9

102.7

38.6

39.4

    Allow. for DA for Current Loans

-

-34.2

-39.9

-

-

    PV Disc. for Current Loans

-

-1.8

-1.2

-

-

    Deferred Tax Asset

-

-

-

27.6

18.5

    Derivatives

-

-

-

-

2.7

    Other Quick Assets

-

-

-

0.4

0.3

    Finished Buildings

-

5.6

6.4

13.8

38.7

    Allowance for Loss on Valuation of Inven

-

-1.9

-1.2

-1.1

-

    Unfinished Buildings

-

3.4

2.8

4.1

0.4

    Land

-

61.9

46.3

41.0

50.1

    Raw Materials

-

7.0

0.8

1.5

1.3

    Buildings for Sale

-

-

-

-

0.4

    Display Material

-

5.5

12.2

8.6

7.9

    Merchandises

-

161.5

-

0.0

0.1

    Finished Goods

-

1.1

2.7

4.2

1.4

    Goods in Transit

-

13.1

0.0

-

0.0

    Work in Progress

-

-

0.1

3.2

5.0

    Stored Goods

-

-

-

-

0.3

    Supplies

-

0.4

0.3

0.4

-

    Unbilled Constructions

261.0

269.1

279.1

-

-

    Other Fincl Instrm

70.5

52.5

25.2

-

-

    Current Assets Held for Sale

-

-

88.8

-

-

    Current Tax Assets

0.0

0.0

0.0

-

-

    Guarantee Deposits, Current Assets

-

0.0

-

-

-

    Adj. for Trade & Other Receivable

-

0.0

0.0

-

-

    Manufactured Goods

-

1.8

-

-

-

    Adj. for Inventories

-

0.0

0.0

-

-

    Recv. from Rec. of Value Added Payments

-

0.2

0.1

-

-

    Adj. for Other Current Assets

-

0.0

0.0

-

-

    Trade & Other Receivable

1,174.1

-

-

-

-

    Inventories

195.8

-

-

-

-

    Other Current Assets

126.2

-

-

-

-

Total Current Assets

1,929.7

1,846.2

1,213.4

984.8

914.4

 

 

 

 

 

 

    LT Finl Assets

-

-

-

7.1

2.7

    Securities avail. for Sale

-

-

-

187.7

123.4

    Securities held till Maturity

-

-

-

1.3

2.8

    Securities under Equity Method

39.4

46.2

39.4

38.3

29.1

    LT Loan

-

47.1

48.6

31.8

27.3

    Allow. for DA for LT Loans

-

0.0

0.0

-

-

    PV Disc. for LT Loans

-

-5.0

-3.8

-

-

    LT Account Rcvbl

-

5.6

5.6

-

-

    LT Receivable from Construction

-

-

-

0.1

-

    LT Guarantee Dep

-

29.7

10.4

33.0

31.3

    Inv Real Estate

-

-

-

0.2

0.8

    LA Deferred Tax

77.1

50.8

47.2

7.3

14.1

    Other Non-Current Assets

0.1

-

4.4

3.5

2.3

    Land

-

97.5

107.5

123.5

95.3

    Buildings

-

74.3

32.3

46.7

42.2

    Buildings-Depreciation

-

-4.9

-4.7

-8.2

-6.6

    Structures

-

10.8

12.1

11.9

8.6

    Structures-Depreciation

-

-2.1

-2.1

-1.5

-1.0

    Machinery/Equip.

-

4.7

6.3

5.0

4.9

    Mach/Equip Depre

-

-3.2

-4.2

-3.4

-2.7

    Construct Equip.

-

0.1

0.1

0.1

0.1

    Depr Const Equip

-

-0.1

-0.1

-0.1

-0.1

    Transport Equip.

-

1.7

1.8

1.8

2.4

    Vehicles-Government Subsidy

-

-

-

-

0.0

    Transport Deprec

-

-0.6

-1.2

-1.0

-1.5

    Tools & Equipments

-

3.0

2.1

2.4

5.1

    Tools & Equipments-Depreciation

-

-1.8

-1.9

-2.0

-4.1

    Fixtures

-

17.7

10.1

9.2

10.5

    Fixtures-Depreciation

-

-10.3

-8.4

-7.6

-8.5

    Trees

-

-

-

0.0

0.0

    Construction in Progress

-

7.3

0.8

0.0

7.1

    Construction in Progress-Govern. Subsidy

-

-0.7

-

-

-

    Software, Intangible

-

-

-

-

0.2

    Usufruct

-

1.6

1.6

1.5

1.0

    Goodwill

-

14.1

2.5

2.4

15.1

    Negative Goodwill

-

-

-

-1.5

-1.5

    Other Tangibles

-

-

0.0

-

-

    Deprec.-Other

-

-

0.0

-

-

    Industrial Property Right

-

-

-

-

0.0

    Usage Right-Facility

-

-

-

6.0

-

    Other Non-Current Fincl Assets

105.4

96.8

118.0

-

-

    Invmt in Properties

23.6

26.1

29.6

-

-

    Adj. for LT Trade & Other Receivable

-

0.0

0.0

-

-

    Adj. for Property, Plant & Equipment

-

0.0

0.0

-

-

    Membership Rights

-

27.4

20.9

-

-

    Other Intangibless

-

44.5

6.0

-

-

    Adj. for Intangibless

-

0.0

0.0

-

-

    Non-Current Advance Payments

-

0.1

-

-

-

    Non-Current Prepaid Expense

-

0.0

-

-

-

    Adj. for Other Non-Current Assets

-

0.0

0.0

-

-

    Non-Current Trade & Other Receivable

89.9

-

-

-

-

    Property, Plant & Equipment, Net

225.8

-

-

-

-

    Intangibles

98.5

-

-

-

-

Total Assets

2,589.5

2,424.9

1,694.3

1,480.4

1,314.8

 

 

 

 

 

 

    Trade Payables

-

-

-

348.6

333.7

    ST Borrowings

-

431.4

193.5

207.8

220.1

    Derivatives in Liabilities, Current

-

-

-

-

0.1

    Accounts Payable

-

-

-

25.7

25.6

    Construc Advance

-

-

-

80.2

31.5

    Unearned Income

-

5.7

0.1

0.1

0.1

    Advanc-Land Sale

-

-

-

1.1

0.6

    Advances Receivd

-

129.2

148.6

47.4

4.3

    Security Deposit Withheld

-

-

-

10.4

9.1

    Deposit Withheld

-

7.4

6.1

13.0

4.1

    Current Port. LT Bonds

-

-

-

1.5

24.4

    Current Portion of Bonds

-

234.3

215.6

151.0

87.3

    Rsv-Constructn L

-

-

-

0.5

0.1

    VAT Withheld

-

0.5

0.1

-

0.7

    Dividend Payable

-

-

-

-

0.0

    Other Current Liabilities

191.9

-

-

0.1

0.1

    Accrued Expense

-

-

-

13.4

15.0

    Income Taxes Payable

5.8

6.5

0.6

10.4

5.8

    Trade and Other Liabilities

794.8

757.0

333.6

-

-

    Overbilled Constructions

48.8

34.6

42.7

-

-

    Other Current Fincl Liabilities

13.4

9.9

2.7

-

-

    Resv for Current Liabilities

0.0

2.7

-

-

-

    Current Portion of Long-Term Borrowings

-

42.3

39.5

-

-

    Bonds With Stock Warrants

-

71.0

-

-

-

    Adj. for Current Borrowings & Bonds

-

0.0

0.0

-

-

    Adj. for Other Current Liabilities

-

0.0

0.0

-

-

    Current Borrowings & Bonds

682.9

-

-

-

-

Total Current Liabilities

1,737.5

1,732.6

982.9

911.3

762.7

 

 

 

 

 

 

    Bonds

-

99.5

206.8

132.8

170.2

    LT Borrowings

-

75.1

64.5

73.9

66.2

    Bonds with Warrant

-

-

68.6

-

-

    Adj. for Non-current Borrowings & Bonds

-

0.0

0.0

-

-

    Non-Current Borrowings & Bonds

316.2

-

-

-

-

Total Long Term Debt

316.2

174.6

339.9

206.6

236.4

 

 

 

 

 

 

    Retire Reserve

45.6

39.4

28.3

49.5

16.6

    Reserve-Construction Loss

-

-

-

0.1

4.3

    Rsv-Error Adjust

-

-

-

16.5

10.3

    LT Account Payable

-

-

-

-

0.1

    Security Deposit, LT

-

-

-

54.9

50.5

    Lease Guarantee

-

-

-

-

0.2

    Minority Interest

18.7

21.0

2.5

2.5

1.8

    Deposit-Retirement Insurance

-

-

-

-32.3

-

    Plan Assets

-

-

-

-1.6

-

    Transfer to National Pension Fund

-

-

-

-0.8

-

    Deferred Income Tax, Credit

0.0

0.0

1.1

-

-

    Non-Current Trade & Other Liabilities

28.9

26.6

54.9

-

-

    Other Non-Current Fincl Liabilities

7.8

7.5

7.6

-

-

    Non-Current Prov.s

36.2

28.6

21.5

-

-

Total Liabilities

2,190.9

2,030.2

1,438.6

1,206.8

1,083.0

 

 

 

 

 

 

    Common Stock

-

356.7

121.5

97.1

89.8

    Preferred Stock

-

6.8

6.9

6.8

6.3

    Paid-in Capital

-

-

31.8

31.2

28.8

    G-Capital Reduction

-

23.6

23.9

23.3

21.6

    Other Capital Surplus

-

3.2

3.3

1.9

1.8

    Reserve-Legal

-

-

-

6.7

5.9

    Rsv-Finl Restruc

-

-

-

-

10.4

    Rsv-Tech Dev't

-

-

-

-

28.8

    Reserv-Voluntary

-

-

-

96.8

41.3

    Retained Earning Carried Forward

-

-

-

-3.3

3.7

    Other Capital Adj.

-

-11.3

-11.4

-8.7

-8.1

    Treasury Stock

-

-26.9

-1.2

-1.2

-1.1

    Valuation-Securities avail. for Sale

-

7.7

12.1

10.7

0.2

    Loss-Valu. of Sec. Available for Sale

-

-

-

-0.1

0.0

    Capital Change, Equity Method

-

0.1

2.1

5.1

2.5

    Capital Change, Equity Method (Loss)

-

-

0.0

0.0

-0.1

    Overseas Business Translation Debit

-

-

-

-1.2

-1.0

    Overseas Business Translation Credit

-

0.0

0.0

1.1

1.0

    Stock Options

-

0.1

0.1

0.1

0.1

    Gain-Revaluation of Tangible Assets

-

-

-

7.3

-

    Comprehensive Income Asset Held for Sale

-

-

42.8

-

-

    Retained Earnings

6.4

35.8

23.9

-

-

    Adj. for Capital Stock

-

0.0

0.0

-

-

    Disc.s on Stock Issuance

-

-1.1

-

-

-

    Adj. for Other Paid-in Capital

-

0.0

0.0

-

-

    Adj. for Other Capital Items

-

0.0

0.0

-

-

    Capital Stock

392.7

-

-

-

-

    Other Paid-in Capital

-11.1

-

-

-

-

    Other Capital Items

10.6

-

-

-

-

Total Equity

398.6

394.7

255.7

273.7

231.8

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

2,589.5

2,424.9

1,694.3

1,480.4

1,314.8

 

 

 

 

 

 

    S/O-Common Stock

75.8

75.3

27.5

22.5

22.5

Total Common Shares Outstanding

75.8

75.3

27.5

22.5

22.5

T/S-Common Stock

6.4

6.9

0.1

0.1

0.1

    S/O-Preferred Stock

1.5

1.5

1.6

1.6

1.6

Total Preferred Shares Outstanding

1.5

1.5

1.6

1.6

1.6

T/S-Preferred Stock

0.0

0.0

0.0

-

-

Deferred Revenue, Current

-

134.9

148.6

128.8

36.5

Accumulated Intangible Amort, Suppl.

-

3.8

1.6

-

-

Full-Time Employees

-

2,487

1,300

906

888

Number of Common Shareholders

-

-

12,519

13,991

15,459

LT Debt Maturing within 1 Yr

-

-

-

152.7

110.9

LT Debt Maturing within 2 Yr

-

-

-

128.6

172.0

LT Debt Maturing within 3 Yr

-

-

-

46.7

0.6

LT Debt Maturing within 4 Yr

-

-

-

3.7

0.6

LT Debt Remaining Maturities

-

-

-

27.9

3.7

Total Long Term Debt, Supplemental

-

-

-

359.6

287.8

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2010

Updated Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

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

-20.7

12.4

-51.3

5.7

13.7

    Depreciation

7.9

2.7

3.5

3.2

5.1

    Amort. Intangible

1.7

0.5

0.5

0.4

6.3

    Retirement Allowance

11.9

11.6

6.2

5.2

10.9

    Recovery-Negative Goodwill Amortization

-

-

-

-0.1

-0.1

    Stock Compensation Expense

-

-

-

-

0.0

    Prov. Doubtful Act

-

-

-

14.1

1.3

    Other Provisions-Doubtful Account

-

-

-

33.9

20.7

    Losses on Foreign Currency Translation

1.9

-

0.0

0.0

3.1

    Transf-Error Adj Rsv

-

-

-

7.4

6.9

    Accrued Interest Expense

-

-

-

1.2

1.5

    L-Inventory Disposal

-

-

-

0.2

0.1

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

0.3

3.3

14.7

-

0.1

    L-Tang Asset Disp.

0.4

0.0

0.2

0.1

0.1

    L-Dispose LT Securities avail for Sale

0.4

0.5

0.1

1.3

1.4

    Loss on Sale of Invmt in Affiliates

0.1

-

-

-

-

    Loss-Valuation of Derivatives

5.4

2.1

1.9

-

0.1

    L-Inv Asset Disposal

-

-

-

-

0.1

    L-Inventory Valuatn.

-

-

-

-

0.0

    Added Expense without Cash flow

-

-

-

-

3.0

    Recovery-Provision Doubtful Account

-

-

-

-

0.0

    L-Intangible Asset Reduction

-

-

-

-

0.7

    Loss-Redemption of Bond

-

-

-

-

0.1

    Loss-Valuation of Tangible Assets

-

-

-

0.6

-

    L-Trade Rcvbl Disp.

-

-

-

1.8

12.3

    Loss under Equity Method

-

-

-

0.1

3.1

    G-INventory Disposal

-

-

-

-0.3

-0.2

    Gain-Derivatives Valuation

-0.3

0.0

-

-

-3.0

    Gain-Disp. of Security Avail-for-Sale

0.0

-4.5

0.0

0.0

-22.1

    G-Inv Asset Disposal

-

-

-

-0.1

-0.5

    G-Tang Asset Disp.

-0.1

-0.4

-2.1

-0.1

-0.1

    Interest Income

-13.5

-5.9

-2.1

-

-

    Gains on Foreign Currency Translation

-4.1

-

0.0

-

-0.1

    Recovery-Invest. Real Estate Reduction L

-

-

-

-

-1.2

    Rec. of Impmt Loss on Invmt in Afflt

-3.3

-

-

-

-

    Rec. of Impmt Loss-Sec. Held-to-Maturity

-1.3

-

-

-

-

    Other Operating Income

0.0

-0.2

-0.3

-0.5

-

    Deduction-Non-cash Income from Cash Flow

-

-

-

0.0

-4.6

    Dividend Received from Affiliates

-

-

-

0.0

0.1

    Gain Disposal of Trademark Right

-

-

-

-11.0

-

    Gain under Equity Method

-

-

-

-0.6

-0.8

    Gain-Disposal of Subsidiaries

-

-

-

-24.7

-

    Trade Receivables

80.6

-74.7

30.1

17.1

-39.9

    Inventory

82.8

-6.7

6.8

32.3

30.9

    Construction Rcvbls.

-

-

-

-126.3

-134.5

    Account Receivables

-

-

-

-18.8

-25.6

    Real Estate Rcvbls.

-

-

-

0.6

-13.5

    Prepaid Construction Expense

-

-

-

-13.1

-10.5

    Accrued Income

-

-

-

0.2

0.3

    Corporate Tax Refundable

-

-

-

-0.1

0.0

    Other Non-Current Receivables

-7.6

-

-

-

-

    Advance Payments

-

-

-

-13.1

-19.7

    Prepaid Income Taxes

-

-

-

-

0.1

    Prepaid Expenses

-

-

-

-0.5

-4.2

    Nation Pension Fund

-

-

-

0.1

0.1

    Government Subsidy, A/L

-

-

-

-

0.4

    Deferred Receipt Expense

-

-

-

-

0.0

    Decrease in Derivative Assets

3.2

-

-

2.6

-

    Deferred Taxes-Asset

-

-

-

-7.0

9.9

    Deferred Income Tax Debit, Current

-

-

-

-0.1

-1.8

    Trade Payables

-16.1

170.8

-80.3

0.0

77.0

    Account Payables

-

-

-

1.0

10.2

    Lease Guarantee Deposit

-

-

-

-

0.2

    Adv.Rcvd-Constructn.

-

-

-

42.0

-21.3

    Security Deposits

-

-

-

0.5

-2.5

    Accrued Expenses

-

-

-

-2.2

8.2

    Other Quick Assets

-

-

-

-0.1

0.0

    Other Current Liabilities

32.8

18.0

-1.4

0.0

0.0

    Accrued Income Taxes

-

-

-

0.3

-0.2

    VAT Withheld

-

-

-

-

-0.6

    Derivative Liabilities

-1.0

-

-

-0.1

-

    Other Non-Current Payable

-1.0

-

-

-

-

    Adv.Rcvd-Real Estate

-

-

-

0.5

-6.7

    Advances Received

-

-

-

41.4

-40.3

    Increase Deposits Withheld

-

-

-

8.1

1.8

    Reserve-Construction Loss

-

-

-

0.4

3.4

    Reserve-Severance & Retirement Benefit

-

-

-

0.0

0.1

    Retirement Allow Pay

-9.8

-4.8

-7.9

-4.8

-6.8

    Retirement Pension Operating Fund

-

-

-

-1.0

-0.5

    Deposit-Retirement Insurance

-

-

-

-0.3

-5.0

    Overseas Business Translation Debit

-

-

-

0.0

0.0

    LT Security Deposits

-

-

-

0.2

-1.0

    Deferred Income Tax Credit, A/L

-

-

-

-

0.0

    Rsv-Error Adjustment

-

-

-

-2.2

-2.8

    Overseas Business Translation Credit

0.6

-

-

-

-

    Resv-Prov. For Affiliates

0.3

-

-

-

-

    Depreciation of Real Estate

0.2

0.2

0.2

-

-

    Loss on Disposal of Current Investment A

-

-

0.7

-

-

    Loss on Valt of Current Invmt Assets

-

-

0.5

-

-

    Impmt Loss on Held to Maturity Sec.

-

1.4

-

-

-

    Impmt Loss on Invmt in Affiliates

0.6

1.2

-

-

-

    Loss on Invesment in Affiliates

7.4

2.0

5.7

-

-

    Loss on Sale of Real Estate

0.8

0.1

0.1

-

-

    Loss on Disposal of Intangible Assets

0.0

0.2

-

-

-

    Gain on Purchase at Bargain Price

-

-19.7

-

-

-

    Gain on Disposal of Investment in Subsid

-1.6

-8.7

-

-

-

    Gain on Disposal of Investment in Affili

-2.6

-0.5

-1.1

-

-

    Gain on Invesment in Affiliates

-0.2

-0.1

-3.8

-

-

    Gain on Sale of Real Estate

0.0

-0.2

-0.9

-

-

    Gain on Disposal of Intangible Assets

0.0

-0.3

-

-

-

    Gain on Sale of Asset Held for Sale

-

-58.5

-

-

-

    Dividend Income

-0.7

-0.2

0.0

-

-

    Interest Expenses

68.9

63.1

59.6

-

-

    Corporate Taxes Expense

-13.3

8.2

-10.4

-

-

    Other Current Receivables

-

-9.8

-34.2

-

-

    Other Current Assets

23.7

-2.1

-7.6

-

-

    Other Receivables

-138.1

0.0

-8.9

-

-

    Other Current Payable

-

8.6

5.3

-

-

    Prov.s

3.5

1.1

0.4

-

-

    Other Payable

-3.6

-2.0

-1.4

-

-

    Other Non-Current Liabilities

7.8

-0.1

-

-

-

    Plan Assets

-3.5

-0.5

2.5

-

-

    National Pension Fund

0.1

-

0.1

-

-

    Cash-Interest Received

5.2

5.9

1.9

-

-

    Cash-Interest Paid

-69.4

-59.5

-55.8

-

-

    Cash-Dividend Income

0.7

0.2

0.1

-

-

    Cash-Tax Paid

-8.4

-1.3

-12.8

-

-

Cash from Operating Activities

28.8

53.3

-141.2

-4.3

-137.2

 

 

 

 

 

 

    Disp-Securities avail. for Sale

5.5

19.6

0.6

1.5

37.6

    Disp-ST Securities Available-for-Sale

-

5.1

5.3

8.1

3.6

    Dec in ST Loans

-

-

-

37.1

37.9

    Dec-ST Finl Assets

92.8

63.0

66.0

12.9

0.4

    Dec-LT Finl Assets

3.4

11.6

6.9

-

0.9

    Dec-Guarantee Dep

-

-

-

15.0

14.6

    Decrease in LT Loans

-

-

-

40.9

86.0

    Decr-Secs under Equity Method

19.1

29.8

-

-

-

    Sale of Fincl Assets Held to Maturity

1.3

-

-

2.8

0.7

    Decrease-Subsidiary

-

-

-

78.9

-

    Disposal-Land

-

-

-

-

0.0

    Disposal-Buildings

-

-

-

0.0

0.1

    Disposal-Structure

-

-

-

0.0

0.0

    Disposal-Machinery & Equipments

-

-

-

0.0

-

    Disposal Vehicels

-

-

-

0.0

0.1

    Disp Tools/Equip.

-

-

-

0.1

0.0

    Disp of Invest RE

-

-

-

0.6

-

    Disposal of Fixtures

-

-

-

0.0

0.0

    Disp-Other LT Assets

-

-

-

-

0.2

    Disposal-Construction Equipment

-

-

-

0.0

-

    Decrease-Trademark Right

-

-

-

11.0

-

    Acq-LT Securities avail. for Sale

-6.2

-10.4

-2.4

-48.6

-20.0

    Purchase of Current Sec. Avail.-for-Sale

-5.4

-6.1

-5.5

-10.0

-4.1

    Increase in ST Loans

-

-

-

-51.4

-35.0

    Inc-ST Finl Assets

-109.7

-103.9

-74.3

-1.0

-3.3

    Purchase of Non-Current Fincl Instrm

-3.1

-8.1

-7.0

-4.0

-0.1

    Increase-Securities under Equity Method

-2.4

-30.2

-3.5

-5.3

-5.7

    Purchase of Sec. Held to Maturity

-2.5

-

-

-1.2

-

    Inc in Guarant Depos

-

-

-

-17.1

-14.7

    Increase in LT Loans

-

-

-

-44.5

-110.5

    Acquis. of Building

-

-

-

-0.3

-1.4

    Acquisition of Land

-

-

-

-13.5

-

    Acq. of Vehicles

-

-

-

-0.6

-0.4

    Acq. in Tools/Equip.

-

-

-

-0.1

-0.5

    Acquis. of Fixtures

-

-

-

-0.7

-1.3

    Acq-Structure

-

-

-

-0.7

-0.2

    Acq-Machinery

-

-

-

-0.1

-0.2

    Incr-Goodwill

-

-

-

-

-0.3

    Increase-Software

-

-

-

-

-0.1

    Increase-Other LT Assets

-

-

-

-0.9

0.0

    Increase-Industrial Property Right

-

-

-

-

0.0

    Increase-Construction Progress

-

-

-

-4.4

-8.4

    Increase-Other Investment Assets

-

-

-

-

-1.9

    Acquis of Market Sec

-

-

-

-7.8

-

    Increase-Construction Equipment

-

-

-

-0.1

-

    Purchase of Real Estate

-0.5

-2.6

0.0

-

-

    Acq Intangible Asset

-5.4

-1.0

-0.9

-

-

    Disposal of Investment in Subsidiaries

4.4

83.6

-

-

-

    Disposal of Property, Plant and Equipmen

2.9

1.2

11.1

-

-

    Disposal of Investment Properties

4.0

5.7

4.7

-

-

    Disposal of Intangible Assets

0.1

0.8

-

-

-

    Disposal of Assets Held for Sale

-

43.8

-

-

-

    Cash Outflow from Merger&Consolidation

-

30.7

-

-

-

    Purchase of Tangibles

-34.1

-4.5

-2.6

-

-

    Purchase of Other Assets

0.0

-

-0.8

-

-

Cash from Investing Activities

-35.8

128.0

-2.1

-3.1

-26.0

 

 

 

 

 

 

    Inc in ST Borrowings

-

-

-

672.9

1,119.2

    Increase in Bonds

-

-

-

90.6

63.2

    Increase-Accrued Dividend Payable

-

-

-

-

0.0

    Inc in LT Borrowings

-

-

-

4.8

45.4

    Capital Increase

-

-

-

-

3.6

    Dec-ST Borrowings

-

-

-

-701.4

-906.1

    Dec-Current Portion of LT Borrowings

-

-

-

-24.1

-24.3

    Dec in LT Borrowings

-

-

-

-0.4

-0.7

    Decrease-Current Portion of Bond

-

-

-

-

-84.5

    Redemption-Bond

-

-

-

-86.2

-18.2

    Dividend Paid

-7.5

-0.1

-2.1

-2.9

-3.4

    Cash Inflow from Other Financing Act.

15.8

-

-

-

-

    Acq-Treasury Stock

-

-0.9

-

-

-

    Stk Issue Cost Paid

0.0

-1.2

-

-

-

    Inc due to Con Scope

-

-

-

-5.3

3.9

    Exercise of Stock Warrants

-

0.0

4.6

-

-

    Increase in Borrowings and Bonds

1,524.9

553.3

1,091.7

-

-

    Decrease in Borrowings and Bonds

-1,546.1

-688.3

-917.3

-

-

Cash from Financing Activities

-13.0

-137.1

176.8

-52.0

198.3

 

 

 

 

 

 

Foreign Exchange Effects

-0.3

-

0.0

-

-

Net Change in Cash

-20.3

44.2

33.5

-59.4

35.2

 

 

 

 

 

 

Net Cash - Beginning Balance

116.9

74.7

38.1

91.1

70.5

Net Cash - Ending Balance

96.5

118.9

71.6

31.7

105.6

    Cash Interest Paid

69.4

59.5

55.8

-

-

    Cash Taxes Paid

8.4

1.3

12.8

-

-

 

 

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-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1 

-

-

3,813.6

182.77%

45.51%

27.05%

Research & Development1 

-

-

3.6

-35.43%

17.09%

1.53%

Operating Income1 

-

-

-5.7

-

-

-

Income Available to Common Excl Extraord Items1 

-

-

-20.7

-

-

-

Basic EPS Excl Extraord Items1 

-

-

-0.27

-

-

-

Capital Expenditures2 

-

-

40.0

405.61%

19.92%

9.48%

Cash from Operating Activities2 

-

-

28.8

-45.01%

-

-22.15%

Free Cash Flow 

-

-

-11.8

-

-

-

Total Assets3 

-

-

2,589.5

-1.15%

17.01%

15.38%

Total Liabilities3 

-

-

2,190.9

-0.10%

18.47%

17.05%

Total Long Term Debt3 

-

-

316.2

67.59%

11.90%

0.14%

Total Common Shares Outstanding3 

-

-

75.8

0.68%

49.87%

27.48%

1-ExchangeRate: KRW to USD Average for Period

 

 

1126.848795

 

 

 

2-ExchangeRate: KRW to USD Average for Period

 

 

1126.848795

 

 

 

3-ExchangeRate: KRW to USD Period End Date

 

 

1066.400024

 

 

 

Key Ratios

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Profitability

Gross Margin 

8.29%

11.48%

11.23%

13.11%

12.80%

Operating Margin 

-0.15%

-1.34%

-0.32%

4.13%

5.27%

Pretax Margin 

-0.89%

1.50%

-5.88%

-1.85%

2.08%

Net Profit Margin 

-0.54%

0.87%

-4.93%

-1.78%

0.60%

Financial Strength

Current Ratio 

1.11

1.07

1.23

1.08

1.20

Long Term Debt/Equity 

0.79

0.44

1.33

0.76

1.02

Total Debt/Equity 

2.51

2.42

3.08

2.07

2.45

Interest Coverage 

-46,082.84

-

-

-

-

Management Effectiveness

Return on Assets 

-0.84%

0.58%

-3.25%

-1.44%

0.62%

Return on Equity 

-5.36%

3.62%

-20.17%

-8.36%

3.08%

Efficiency

Receivables Turnover 

2.86

1.26

1.36

1.76

2.28

Inventory Turnover 

13.94

5.61

8.42

8.07

7.83

Asset Turnover 

1.55

0.64

0.67

0.83

0.97

Market Valuation USD (mil)

Enterprise Value2 

1,120.4

.

Enterprise Value/Revenue (TTM) 

0.29

Enterprise Value/EBITDA (TTM)

286.95

.

Market Cap1 

310.3

1-ExchangeRate: KRW to USD on 29-Mar-2013

1112.840072

 

 

 

2-ExchangeRate: KRW to USD on 29-Mar-2013

1112.840072

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

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

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Financial Strength

Current Ratio 

1.11

1.07

1.23

1.08

1.20

Quick/Acid Test Ratio 

0.93

0.84

0.95

0.84

0.92

Working Capital1 

192.1

113.6

230.5

73.5

151.7

Long Term Debt/Equity 

0.79

0.44

1.33

0.76

1.02

Total Debt/Equity 

2.51

2.42

3.08

2.07

2.45

Long Term Debt/Total Capital 

0.23

0.13

0.33

0.25

0.30

Total Debt/Total Capital 

0.71

0.71

0.76

0.67

0.71

Interest Coverage 

-46,082.84

-

-

-

-

Payout Ratio 

-

21.20%

0.00%

-9.06%

38.89%

Effective Tax Rate 

-

39.86%

-

-

69.17%

Total Capital1 

1,397.7

1,348.4

1,044.1

840.6

800.0

 

 

 

 

 

 

Efficiency

Asset Turnover 

1.55

0.64

0.67

0.83

0.97

Inventory Turnover 

13.94

5.61

8.42

8.07

7.83

Days In Inventory 

26.19

65.01

43.34

45.24

46.63

Receivables Turnover 

2.86

1.26

1.36

1.76

2.28

Days Receivables Outstanding 

127.66

290.71

268.50

207.28

159.95

Revenue/Employee2 

-

530,440

821,965

1,322,137

1,300,018

Operating Income/Employee2 

-

-7,084

-2,605

54,590

68,518

EBITDA/Employee2 

-

-5,826

513

58,984

79,717

 

 

 

 

 

 

Profitability

Gross Margin 

8.29%

11.48%

11.23%

13.11%

12.80%

Operating Margin 

-0.15%

-1.34%

-0.32%

4.13%

5.27%

EBITDA Margin 

0.10%

-1.10%

0.06%

4.46%

6.13%

EBIT Margin 

-0.15%

-1.34%

-0.32%

4.13%

5.27%

Pretax Margin 

-0.89%

1.50%

-5.88%

-1.85%

2.08%

Net Profit Margin 

-0.54%

0.87%

-4.93%

-1.78%

0.60%

R&D Expense/Revenue 

0.09%

0.41%

0.34%

0.18%

0.27%

COGS/Revenue 

91.55%

88.50%

88.03%

86.50%

86.59%

SG&A Expense/Revenue 

8.24%

11.86%

10.50%

8.72%

7.35%

 

 

 

 

 

 

Management Effectiveness

Return on Assets 

-0.84%

0.58%

-3.25%

-1.44%

0.62%

Return on Equity 

-5.36%

3.62%

-20.17%

-8.36%

3.08%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2 

-0.16

0.58

-5.36

-1.21

-5.82

Operating Cash Flow/Share 2 

0.40

0.68

-5.24

-0.21

-5.33

1-ExchangeRate: KRW to USD Period End Date

1066.400024

1152

1134.9

1164.475

1259.55

2-ExchangeRate: KRW to USD Average for Period

1066.400024

1152

1134.9

1164.475

1259.55

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.53

UK Pound

1

Rs.83.59

Euro

1

Rs.71.33

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

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.