MIRA
INFORM REPORT
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Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LG CHEM LTD
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Registered Office : |
LG |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.04.2001 |
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Com. Reg. No.: |
1078198139 |
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Legal Form : |
Public Parent
Company |
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Line of Business : |
·
Subject
is engaged in petrochemicals, performance polymers, industrial materials,
information and electronics materials business Subject operates through business divisions such as :- §
Petrochemical Division §
Information and
Electronic Material Division §
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No. of Employees : |
10,722 (2011) |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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South korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 is currently the
world's 12th largest economy. 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. Korea''s export focused economy was hit hard by the 2008 global economic
downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in
2010. The US-South Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Throughout 2012 the economy
experienced sluggish growth because of market slowdowns in the United States,
China, and the Eurozone. The incoming administration in 2013, following the
December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors,
such as services. 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.
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Source : CIA |
Company
name & address
LG Chem Ltd
LG Twin Tower
128, Yeoui-Daero, Yeongdeungpo-Gu
Seoul, 150721
Korea, Republic of
Tel:
82-2-37771114
Fax:
82-2-37737813
Web www.lgchem.com
synthesis
Employees: 10,722
Company Type: Public
Parent
Corporate Family: 11 Companies
Traded: Korea Stock Exchange: 051910
Incorporation
Date: 01-Apr-2001
Auditor: PricewaterhouseCoopers
LLP
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales:
20,644.3 1
Net Income:
1,326.3
Total Assets:
15,548.7 2
Market Value:
18,178.5 (22-Nov-2013)
Business
Description
LG CHEM, LTD. is
a Korea-based company principally engaged in the manufacture of petrochemicals.
The Company mainly operates in three business divisions: petrochemical
division, which manufactures basic chemicals, polyvinyl chloride products,
plasticizers, polyethylene compounds, acrylic acids, performance polymers,
engineering plastics, acrylonitrile butadiene styrene, conductive resins and
other chemicals; information and electronic material division, which
manufactures toner, photosensitive materials, organic light-emitting diode
(OLED) materials, circuit materials and others used as display materials, and
battery division, which manufactures rechargeable batteries applied in mobile
phones, laptop computers and other mobile devices, as well as lithium-ion
batteries used for automobiles. For the six months ended 30 June 2013, LG Chem
Ltd revenues decreased 1% to W11.638T. Net income applicable to common
stockholders decreased 2% to W660.82B. Revenues reflect Electric Equipments
segment decrease of 9% to W618.47B, Communications Equipment Manufacturing
segment decrease of 4% to W778.87B, SouthEast Asia segment decrease of 24% to
W355.8B, America segment decrease of 12% to W443.84B, South Korea segment
decrease of 1% to W2.517T.
Industry
Industry Basic Chemical Manufacturing
ANZSIC 2006: 1812 - Basic Organic Chemical Manufacturing
ISIC Rev 4: 2011 - Manufacture of basic chemicals
NACE Rev 2: 2014 - Manufacture of other organic basic
chemicals
NAICS 2012: 32511 - Petrochemical Manufacturing
UK SIC 2007: 2014 - Manufacture of other organic basic
chemicals
US SIC 1987: 2869 - Industrial Organic Chemicals, Not
Elsewhere Classified
Key
Executives
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Name |
Title |
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Yeong Su Gwon |
Co-President, Co-Chief Executive Officer, Director |
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Seok Je Cho |
Co-President, Chief Financial Officer, Director |
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Yeong Hwan Kim |
Assistant Managing Director |
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Min Hwan Kim |
Assistant Managing Director, Chief Human Resource Officer |
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Young-Soo Kwon |
President-Energy Solution Company, Board Member |
Financial Summary
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Stock Snapshot
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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
LG Twin Tower
128, Yeoui-Daero,
Yeongdeungpo-Gu
Seoul, 150721
Korea, Republic
of
Tel: 82-2-37771114
Fax: 82-2-37737813
Web: www.lgchem.com
Quote Symbol - Exchange
051910 - Korea Stock Exchange
Sales KRW(mil): 23,263,020.0
Assets KRW(mil): 16,581,153.0
Employees: 10,722
Fiscal Year End: 31-Dec-2012
Industry: Chemical Manufacturing
Incorporation
Date: 01-Apr-2001
Company Type: Public Parent
Quoted Status: Quoted
Registered No.(KOR): 1078198139
Co-President, Co-Chief Executive Officer, Director:
Jin Su Park
Industry Codes
ANZSIC 2006
Codes:
1812 - Basic
Organic Chemical Manufacturing
2429 - Other
Electronic Equipment Manufacturing
1899 - Other
Basic Chemical Product Manufacturing Not Elsewhere Classified
1821 - Synthetic
Resin and Synthetic Rubber Manufacturing
2439 - Other
Electrical Equipment Manufacturing
1813 - Basic
Inorganic Chemical Manufacturing
ISIC Rev 4 Codes:
2011 - Manufacture
of basic chemicals
2610 - Manufacture
of electronic components and boards
2013 - Manufacture
of plastics and synthetic rubber in primary forms
2029 - Manufacture
of other chemical products n.e.c.
2720 - Manufacture
of batteries and accumulators
NACE Rev 2 Codes:
2014 - Manufacture
of other organic basic chemicals
2017 - Manufacture
of synthetic rubber in primary forms
2720 - Manufacture
of batteries and accumulators
2013 - Manufacture
of other inorganic basic chemicals
2611 - Manufacture
of electronic components
2016 - Manufacture
of plastics in primary forms
2059 - Manufacture
of other chemical products n.e.c.
NAICS 2012 Codes:
32511 - Petrochemical
Manufacturing
334419 - Other
Electronic Component Manufacturing
325211 - Plastics
Material and Resin Manufacturing
325998 - All
Other Miscellaneous Chemical Product and Preparation Manufacturing
325180 - Other
Basic Inorganic Chemical Manufacturing
325212 - Synthetic
Rubber Manufacturing
335911 - Storage
Battery Manufacturing
325194 - Cyclic
Crude, Intermediate, and Gum and Wood Chemical Manufacturing
US SIC 1987:
2869 - Industrial
Organic Chemicals, Not Elsewhere Classified
2821 - Plastics
Materials, Synthetic Resins, and Nonvulcanizable Elastomers
3691 - Storage
Batteries
2822 - Synthetic
Rubber (Vulcanizable Elastomers)
2899 - Chemicals
and Chemical Preparations, Not Elsewhere Classified
2865 - Cyclic
Organic Crudes and Intermediates, and organic Dyes and Pigments
3679 - Electronic
Components, Not Elsewhere Classified
2819 - Industrial
Inorganic Chemicals, Not Elsewhere Classified
UK SIC 2007:
2014 - Manufacture
of other organic basic chemicals
2017 - Manufacture
of synthetic rubber in primary forms
2720 - Manufacture
of batteries and accumulators
2013 - Manufacture
of other inorganic basic chemicals
2611 - Manufacture
of electronic components
2016 - Manufacture
of plastics in primary forms
2059 - Manufacture
of other chemical products n.e.c.
Business Description
LG CHEM, LTD. is
a Korea-based company principally engaged in the manufacture of petrochemicals.
The Company mainly operates in three business divisions: petrochemical
division, which manufactures basic chemicals, polyvinyl chloride products,
plasticizers, polyethylene compounds, acrylic acids, performance polymers,
engineering plastics, acrylonitrile butadiene styrene, conductive resins and
other chemicals; information and electronic material division, which
manufactures toner, photosensitive materials, organic light-emitting diode
(OLED) materials, circuit materials and others used as display materials, and
battery division, which manufactures rechargeable batteries applied in mobile
phones, laptop computers and other mobile devices, as well as lithium-ion
batteries used for automobiles. For the six months ended 30 June 2013, LG Chem
Ltd revenues decreased 1% to W11.638T. Net income applicable to common
stockholders decreased 2% to W660.82B. Revenues reflect Electric Equipments
segment decrease of 9% to W618.47B, Communications Equipment Manufacturing
segment decrease of 4% to W778.87B, SouthEast Asia segment decrease of 24% to
W355.8B, America segment decrease of 12% to W443.84B, South Korea segment
decrease of 1% to W2.517T.
More Business Descriptions
Vertically
integrated chemical company engaged in petrochemicals, performance polymers,
industrial materials, and information and electronics materials business
Chemical Products
Mfr
Chemicals and
allied products
All Other
Chemical Product and Preparation Manufacturing
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Strategic
Initiatives
Partnerships
That is good but is
not enough. Hence, Renault and LG Chem are currently talking about doubling the
maximum speed. "They will not sign a memorandum of understanding this time
but they agreed in principle in the collaboration and talks are now underway to
iron out the differences in details."Oct 24, 2013LG Chem, Versalis To Sell
mLLDPE Products In ItalySouth Korea-based LG Chem has signed a deal with
Versalis to export metallocene-linear low-density polyethylene (mLLDPE)
products to Italy.Under the deal, Versalis will become LG Chem’s exclusive
business partner and sell its products in Italy. According to the company, the
deal has millions of dollars worth and the LG Group affiliate would ship about
10,000 tons per year.
Sales and Distribution
LG Chem also
invested in 3D FPR and LC D glass substrates in the IT & Electronic
Materials segment. The company’s investments in Batteries segment focused on
new production and expansion of polymer batteries and automotive batteries. In
2013, LG Chem plans to invest in SSBR and High EVA product categories. Such
focused investments give an opportunity for the company to increase its sales
and market share.Growing Demand for Hybrid-Electric Vehicles (HEVs)The growing
demand for clean vehicles would provide an opportunity for the company to boost
its sales and strengthen its market presence in its batteries segment. LG Chem
engages in production of both lithium-ion and lithium-ion polymer rechargeable
batteries.
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Helpful |
Harmful |
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Internal Origin |
Strengths Dominant Market Position in Polarizer Market |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
LG Chem, Ltd. (LG
Chem) pioneers in the manufacture and marketing of high quality petrochemicals,
information and electronic materials, and industrial materials. The company is
the leader in a few of its businesses, which allows it to achieve stellar performance
enjoying a competitive advantage. However, legal proceedings and huge debt
compared to various other companies in the sector are few causes for concern to
the company. Nonetheless, growing demand for hybrid electric vehicles (HEV) and
strategic plans would provide growth opportunities for the company. Yet,
stringent regulatory obligations restricting chemical industry, and competitive
pressure could pose several challenges to the company in sustaining profitable
growth.
Strengths
Dominant Market Position in Polarizer Market
Business
competency in terms of market leadership would drive the company’s growth and
provide it a competitive advantage. LG Chem is a leading provider of
petrochemicals to global polarizer market. Polarizer for TFT-LCD comprises 95%
of the entire polarizer market and the company is the leader in large-area
TFT-LCD polarizer market in 2012 following from 2010. According to industry
estimates, as of mid 2012, LG Chem had a market share of 27.7% overshadowing
25.3% market share of Nitto Denko and 25% of Sumitomo Chem. In the TV-use
polarizer market, LG Chem competes with Nitto Denko and Sumitomo Chemical for
the leading place. In the monitor-use polarizer market, LG Chem dominates with
a market share of approximately 45%. The company’s market-leading position is
driven by its manufacturing know-how for value-added products at competitive
prices. The company’s leading market position would enhance its brand image and
provide multiple growth opportunities.
Strong Research and Development Capabilities
Operating in
technology intensive businesses, LG Chem continues to invest in new and
advanced technologies across all its business fields, which will enhance its
competitive position. The company engages in basic and applied research to develop
new products and processes to enhance existing products and processes and to
develop new applications for existing products. Since its inception, the
company introduced several breakthrough products and technologies. It developed
and launched TFT-LCD polarizers, LCD color filter photoresists, OLED materials,
printed circuit board materials, and the industry’s first 2,400 mAh, 2,600 mAh,
and 2,800 mAh lithium-ion batteries. In the petrochemical business, the company
develops specialty products, catalysts, processes, and eco-friendly
plasticizers. LG Chem registered more than 9,000 patents worldwide, creating a
strong intellectual property portfolio that makes it increasingly competitive
in the global marketplace. The company has Research Park in Daejeon, Korea
which includes (Corporate R&D Center) and Information & Electronic
Materials R&D Center, Battery R&D Center and Petrochemicals &
Polymers R&D Center. LG Chem also has a global R&D network with
satellite labs in the US, Germany, Russia, and China. Thus, strong R&D base
helps the company develop new products and sustain its leading market position.
Vertical Integration in Petrochemicals Business
LG Chem is
vertically integrated across the value chain of petrochemical industry, which
enables it to identify various cost synergies. The company produces quality
petrochemicals ranging from basic distillates to specialty polymers. Its
petrochemical business engages in the production of ethylene, propylene, mixed
C4s, and pyrolysis gasoline, synthetic rubber and specialty resins, polyvinyl
chloride (PVC), acrylonitrile-butadienestyrene (ABS) materials, acrylates and
plasticizers. The company attained vertically integrated production system in
the PVC and ABS businesses through a merger with LG Daesan Petrochemicals in
2006 and LG Petrochemical in 2007. Furthermore, capacity expansion of ABS plant
in China enhanced the company's position in the global ABS industry. LG Chem’s
vertically integrated petrochemical businesses would increase its cost
competitiveness and reduce the dependency on third party suppliers.
Weaknesses
Legal Proceedings
Involvement in
litigations leading to legal proceedings will incur additional costs to the
company and affect its profitability. In December 2012, the company and few of
its overseas subsidiaries were investigated by U.S. Department of Justice in
relation to price fixing of small secondary batteries. In the same month, the
company and its subsidiaries were named as defendants in eight lawsuits.
Recently, Nippo Shokubai Co. Ltd. filed a lawsuit against LG Chem seeking an
injunction and damage for LG Chem's infringement of Nippon Shokubai's Korean
patent, 481,059 relating to the polymers for concrete admixture used in
construction industry. Nippo Shokubai stated that it heavily invested in
research and development to achieve improved quality and productivity of
polymers for concrete admixture such as AQUALOC. In response to the lawsuit
filing, it discontinued production and sale of its polycarboxylate copolymer;
namely, CP-ST. Regardless the outcome, such lawsuits could impact the results
of operations. Further, adverse decisions could hamper its brand equity gained
over the years.
Debt Obligations
For the fiscal year
2012, the company recorded a total debt of KRW2,946,907m. It total long-term
debt stood at KRW1,195,126m, an increase of 73% over 2011. This could impair
its ability to obtain additional financing for working capital, capital
expenditures or general corporate purposes, especially if the ratings assigned
to its debt securities by rating organizations were revised downward. It could
restrict the flexibility of the company in responding to changing market
conditions and make it more vulnerable during times of slowdown. Another major
consequence of the company's indebtedness would be that the company would
require allocate a substantial portion of the cash flow from operations to pay
the principal and interest on debt, thereby reducing funds which could be used
for expansion through acquisitions, on marketing and the expansion of product
offerings.
Opportunities
Positive Outlook of Petrochemical Industry
LG Chem could be
benefited from the potential global petrochemicals market. According to the
in-house research reports, the global petrochemicals industry was valued at
$733.4 billion, and it is expected to grow at a rate of 8.8% to reach $1699
billion by 2020. Global market for polyethylene is expected to reach $186
billion in 2020. In addition, total world market for polypropylene is expected
to grow at a rate of 8.4% during 2010-2020 to reach $109.1 billion. Such growth
in petrochemical sector is expected to be driven by Asia Pacific, and Middle
East and Africa regions. Petrochemicals demand in Middle East and Africa is
expected to grow at a rate of 11.2% from 2010 through 2012. Asia Pacific’s
petrochemicals market is expected to register CAGR of 10.2% during 2010-2020 to
reach $1070 billion. Such a strong outlook of the petrochemical industry could
help LG Chem expand its geographic operations and explore untapped markets to
bolster top-line growth.
Strategic Growth Initiatives
The company
focuses on business expansion through organic and inorganic methods. It focuses
on increasing the output of petrochemical products; as well as LCD glasses,
batteries and films used in 3D televisions. In 2012, the company reported total
investments of approximately KRW 2.1 trillion. It primarily invested in
expansion of production capacity of highly profitable products such as SA P,
acrylates, and high EVA. LG Chem also invested in 3D FPR and LC D glass
substrates in the IT & Electronic Materials segment. The company’s
investments in Batteries segment focused on new production and expansion of
polymer batteries and automotive batteries. In 2013, LG Chem plans to invest in
SSBR and High EVA product categories. Such focused investments give an
opportunity for the company to increase its sales and market share.
Growing Demand for Hybrid-Electric Vehicles (HEVs)
The growing demand
for clean vehicles would provide an opportunity for the company to boost its
sales and strengthen its market presence in its batteries segment. LG Chem
engages in production of both lithium-ion and lithium-ion polymer rechargeable
batteries. The company’s batteries find application in various industries,
including robots, robot vacuum cleaners, electric bicycles, electric
wheelchairs, and electric and hybrid vehicles. The world demand for
hybrid-electric vehicles (HEVs) is expected to reach 4 million units in 2015.
The HEV demand is high in Chinese and South Korean market, mainly due to
government interest in dealing with mobile emissions (China), and planned local
production of HEVs in both China and South Korea. The rising demand will boost
the battery market to $8.6 billion by 2015.
Threats
Competitive Pressure
LG Chem's
business operations face intense competition from both domestic and foreign
chemical manufacturers, which may have a negative impact on its performance.
Increased competition may lead the company to reduce its prices, which could
negatively affect its margins. The company operates in a progressively more
complex and challenging chemical marketplace whose dynamics is ever-changing.
Its key competitors include Dow Chemical Company, Sumitomo Chemical, Samsung
SDI Co., Ltd., Nitto Denko Corporation and others. Technological advances by
any player in the market could make its present or future products obsolete or
uneconomical. The existing market includes companies of varying sizes; some more
specialized than the company with respect to particular materials, and some
with greater financial resources than the company. It competes in this evolving
marketplace on the basis of many factors, including price, quality, innovation,
service, reputation, distribution and promotion.
Infringement of Intellectual Property
LG Chem’s
intellectual property rights could be challenged, invalidated, or infringed by
its competitors. The company owns trademarks for its various products,
including. The company has strong R&D activity which allowed it to develop
several new technologies and products. The company’s intellectual property
includes copyrights, patents, trademarks, industrial design rights and various
trade secrets. Currently, the company has more than 9,000 registered patents
and several patent pending applications worldwide. Failure to meet the
requirements in securing its technology could adversely hamper the company’s
competitive position. Similarly, the company could face infringement claims and
incur additional costs that would affect its profitability.
Stringent Environmental Regulations
LG Chem’s
business could be affected by the environmental regulations governing the
global chemical industry. The company is subject to variety of laws, regulations
and policies by the Government of South Korea and other foreign governments,
where the company operates. One of such is REACH (Registration Evaluation and
Authorization of Chemicals), which regulates the products manufactured and
marketed in Europe. REACH exemplifies the stringent regulatory environment that
is set to affect chemical producers. Phased over a period of 11 years, the
regulation mandates all companies to develop and submit dossiers containing
datasets about their chemical products and detail their potential impact and
risk on environment. This will prove to be a challenge while launching new
products as it is a time-consuming and expensive process. It may also result in
phasing out many existing chemicals from the market, which may be regarded as
toxic and hazardous. REACH directly applies to over 30,000 different chemical
substances that are produced or sold in Europe and its implementation is
expected to cost European chemical industry about $3 billion. Other countries
too are expected to model their regulations after REACH. The US also implements
similar regulations with the reform of Toxic Substances Control Act. China has
its own version of RoHS (Restriction of Hazardous Substances), which restricts
the use of certain chemicals in the market. Such stringent environmental
regulations are set to get tightened in the near future, affecting both
existing and new products of the company.
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Corporate Family |
Corporate Structure News: |
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LG Chem Ltd |
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LG Chem Ltd |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Seoul |
Korea, Republic of |
Basic Chemical Manufacturing |
20,644.3 |
10,722 |
|
|
Joint Venture |
Ch'onan, Choongnam |
Korea, Republic of |
Miscellaneous Chemical Manufacturing |
|
1,400 |
|
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Subsidiary |
Ningbo, Zhejiang |
China |
Synthetic Chemical Manufacturing |
1,308.2 |
562 |
|
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Subsidiary |
Biskupice Podgorne |
Poland |
Semiconductor and Other Electronic Component Manufacturing |
13.5 |
530 |
|
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Subsidiary |
Tianjin, Tianjin |
China |
Synthetic Chemical Manufacturing |
138.2 |
170 |
|
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Subsidiary |
Tianjin, Tianjin |
China |
Rubber and Plastic Product Manufacturing |
77.5 |
150 |
|
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Subsidiary |
Englewood Cliffs, NJ |
United States |
Miscellaneous Wholesale |
|
40 |
|
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Subsidiary |
North Point, Hong Kong |
Hong Kong |
Chemical Wholesale |
500.0 |
23 |
|
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Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Chemical Wholesale |
10.6 |
20 |
|
|
Subsidiary |
Bangkok |
Thailand |
Miscellaneous Chemical Manufacturing |
|
3 |
|
|
Subsidiary |
Beijing, Beijing |
China |
Chemical Wholesale |
78.6 |
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Competitors
Report
|
CompanyName |
Location |
Employees |
Ownership |
|
ExxonMobil Chemical Company |
Houston, Texas, United States |
14,000 |
Private |
|
KP Chemical Corp |
Ulsan, Korea, Republic of |
610 |
Public |
|
Kumho Petro Chemical Co Ltd |
Seoul, Korea, Republic of |
1,310 |
Public |
|
Mitsubishi Chemical Corporation |
Tokyo, Japan |
27,689 |
Private |
|
Mitsui Chemicals, Inc. |
Minato-Ku, Japan |
12,846 |
Public |
|
NITTO DENKO CORPORATION |
Osaka-Shi, Japan |
25,476 |
Public |
|
Oci Co Ltd |
Seoul, Korea, Republic of |
2,761 |
Public |
|
Samsung SDI Co Ltd |
Yongin, Korea, Republic of |
8,320 |
Public |
|
Sekisui Chemical Co., Ltd. |
Minato-Ku, Japan |
22,202 |
Public |
|
Sumitomo Chemical Co Ltd |
Chuo-Ku, Japan |
30,396 |
Public |
|
The Dow Chemical Company |
Midland, Michigan, United States |
52,714 |
Public |
|
Toray Industries Inc |
Chuo-Ku, Japan |
42,584 |
Public |
|
Tosoh Corporation |
Minato-Ku, Japan |
11,268 |
Public |
|
Toyama Chemical Co Ltd |
Tokyo, Japan |
851 |
Private |
Executive report
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Significant
Developments
LG Chem Ltd.
Fined by United States Department of Justice for Personal Computer Lithium Battery
Cartel-Jiji Press Jul 18, 2013
Jiji Press
reported that LG Chem Ltd. has agreed to pay a fine of USD 1.056 million to the
United States Department of Justice due to personal computer lithium battery
cartel.
Xilong Chemical
Co Ltd Signs Authorized Distribution Agreements with SK Networks Co., LTD and
LG Chem Apr 25, 2013
Xilong Chemical
Co Ltd announced that it has signed an authorized distribution agreements with
SK Networks Co., LTD, to distribute its Propylene Glycol USP. This distribution
agreement is valid till December 31, 2013. Xilong Chemical has also signed an
authorized distribution agreements with LG Chem, to distribute its isopropyl
alcohol and alcohol.
LG Chem Ltd.
Announces Resignation of Co-CEO Mar 15, 2013
LG Chem Ltd. announced
that its Co-Chief Executive Officer (Co-CEO), Kim Ban Seok, has resigned from
the Company, effective March 15, 2013. The current Co-CEOs, Park Jin Su, Park
Yeong Gi and Gwon Yeong Su, continue their duties as Co-CEOs at the Company.
LG Chem Ltd.
Declares Annual Cash Dividend for FY 2012 Jan 29, 2013
LG Chem Ltd.
announced that its Board of Directors has declared an annual cash dividend of
KRW 4,000 per share of common stock and KRW 4,050 per share of preferred stock
for the fiscal year 2012 to shareholders of record on December 31, 2012. The
dividend rates of market prices are 1.2% (common shares) and 3.8% (preferred
shares), respectively. The total cash dividend amount is KRW 294,520,018,100.
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 |
Reclassified
Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
13,141.4 |
|
Revenue |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
13,141.4 |
|
Other Revenue |
- |
- |
- |
- |
83.5 |
|
Other Revenue, Total |
- |
- |
- |
- |
83.5 |
|
Total Revenue |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
13,224.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
17,708.7 |
16,784.0 |
13,381.3 |
9,606.0 |
11,175.7 |
|
Cost of Revenue, Total |
17,708.7 |
16,784.0 |
13,381.3 |
9,606.0 |
11,175.7 |
|
Gross Profit |
2,935.6 |
3,683.3 |
3,458.4 |
2,554.0 |
1,965.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
850.0 |
775.7 |
704.8 |
556.1 |
561.3 |
|
Labor & Related Expense |
312.1 |
293.2 |
240.9 |
194.6 |
207.6 |
|
Advertising Expense |
18.0 |
16.6 |
9.9 |
8.2 |
9.9 |
|
Total Selling/General/Administrative Expenses |
1,180.1 |
1,085.6 |
955.6 |
758.9 |
778.8 |
|
Research & Development |
- |
- |
- |
- |
25.5 |
|
Depreciation |
48.8 |
43.7 |
36.0 |
31.6 |
31.8 |
|
Amortization of Intangibles |
11.4 |
9.8 |
10.7 |
7.3 |
12.8 |
|
Depreciation/Amortization |
60.2 |
53.5 |
46.7 |
39.0 |
44.6 |
|
Investment Income -
Operating |
- |
- |
19.4 |
59.0 |
- |
|
Interest/Investment Income - Operating |
- |
- |
19.4 |
59.0 |
- |
|
Interest Expense (Income) - Net Operating Total |
- |
- |
19.4 |
59.0 |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
7.0 |
21.3 |
- |
|
Unusual Expense (Income) |
- |
- |
7.0 |
21.3 |
- |
|
Other Operating Expense |
- |
- |
19.6 |
55.1 |
- |
|
Other, Net |
- |
- |
-30.0 |
-22.9 |
- |
|
Other Operating Expenses, Total |
- |
- |
-10.4 |
32.2 |
- |
|
Total Operating Expense |
18,949.0 |
17,923.1 |
14,399.7 |
10,516.5 |
12,024.5 |
|
|
|
|
|
|
|
|
Operating Income |
1,695.3 |
2,544.3 |
2,440.0 |
1,643.5 |
1,200.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-64.8 |
-60.6 |
-53.0 |
-81.4 |
-88.6 |
|
Interest Expense, Net Non-Operating |
-64.8 |
-60.6 |
-53.0 |
-81.4 |
-88.6 |
|
Interest Income -
Non-Operating |
26.7 |
24.7 |
23.1 |
14.9 |
5.4 |
|
Investment Income -
Non-Operating |
11.3 |
15.1 |
38.5 |
10.7 |
-82.8 |
|
Interest/Investment Income - Non-Operating |
38.0 |
39.9 |
61.6 |
25.7 |
-77.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
-26.7 |
-20.7 |
8.7 |
-55.7 |
-166.0 |
|
Gain (Loss) on Sale of Assets |
-1.4 |
-3.9 |
- |
- |
-38.8 |
|
Other Non-Operating Income (Expense) |
1.6 |
4.7 |
-11.2 |
-8.8 |
80.8 |
|
Other, Net |
1.6 |
4.7 |
-11.2 |
-8.8 |
80.8 |
|
Income Before Tax |
1,668.8 |
2,524.3 |
2,437.5 |
1,579.0 |
1,076.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
332.0 |
565.9 |
535.1 |
347.2 |
242.4 |
|
Income After Tax |
1,336.8 |
1,958.4 |
1,902.4 |
1,231.8 |
833.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-10.5 |
-28.7 |
-35.9 |
-24.0 |
15.1 |
|
Net Income Before Extraord Items |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.8 |
848.9 |
|
Discontinued Operations |
- |
- |
- |
-0.3 |
62.1 |
|
Extraord Items |
- |
- |
- |
0.0 |
- |
|
Total Extraord Items |
- |
- |
- |
-0.3 |
62.1 |
|
Net Income |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.4 |
911.0 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-137.8 |
-200.4 |
-193.8 |
-125.4 |
-94.9 |
|
Total Adjustments to Net Income |
-137.8 |
-200.4 |
-193.8 |
-125.4 |
-94.9 |
|
Income Available to Common Excl Extraord Items |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.3 |
754.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
816.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
65.9 |
65.9 |
65.9 |
68.1 |
65.8 |
|
Basic EPS Excl Extraord Items |
18.03 |
26.24 |
25.38 |
15.89 |
11.46 |
|
Basic/Primary EPS Incl Extraord Items |
18.03 |
26.24 |
25.38 |
15.88 |
12.40 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
816.0 |
|
Diluted Weighted Average Shares |
65.9 |
65.9 |
65.9 |
68.1 |
65.8 |
|
Diluted EPS Excl Extraord Items |
18.03 |
26.24 |
25.38 |
15.89 |
11.46 |
|
Diluted EPS Incl Extraord Items |
18.03 |
26.24 |
25.38 |
15.88 |
12.40 |
|
Dividends per Share - Common Stock Primary Issue |
3.55 |
3.61 |
3.46 |
2.74 |
2.58 |
|
Gross Dividends - Common Stock |
234.0 |
238.0 |
228.0 |
180.7 |
170.0 |
|
Interest Expense, Supplemental |
64.8 |
60.6 |
53.0 |
81.4 |
88.6 |
|
Interest Capitalized, Supplemental |
-26.9 |
-20.4 |
-16.1 |
-7.3 |
- |
|
Depreciation, Supplemental |
759.9 |
669.6 |
565.8 |
444.9 |
514.9 |
|
Total Special Items |
1.4 |
3.9 |
7.0 |
21.3 |
38.8 |
|
Normalized Income Before Tax |
1,670.2 |
2,528.2 |
2,444.5 |
1,600.3 |
1,115.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.3 |
0.9 |
1.5 |
4.7 |
8.7 |
|
Inc Tax Ex Impact of Sp Items |
332.3 |
566.8 |
536.6 |
351.9 |
251.2 |
|
Normalized Income After Tax |
1,337.9 |
1,961.4 |
1,907.9 |
1,248.4 |
863.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1,189.5 |
1,732.4 |
1,678.2 |
1,098.9 |
784.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
18.05 |
26.28 |
25.46 |
16.13 |
11.92 |
|
Diluted Normalized EPS |
18.05 |
26.28 |
25.46 |
16.13 |
11.92 |
|
Amort of Intangibles, Supplemental |
16.9 |
14.2 |
15.5 |
13.3 |
22.3 |
|
Rental Expenses |
- |
- |
- |
- |
0.0 |
|
Advertising Expense, Supplemental |
18.0 |
16.6 |
9.9 |
8.2 |
9.9 |
|
Research & Development Exp, Supplemental |
- |
- |
- |
- |
25.5 |
|
Normalized EBIT |
1,695.3 |
2,544.3 |
2,466.5 |
1,723.8 |
1,200.4 |
|
Normalized EBITDA |
2,472.0 |
3,228.0 |
3,047.7 |
2,182.0 |
1,737.6 |
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 |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
675.9 |
1,197.4 |
1,205.4 |
950.3 |
408.3 |
|
Short Term Investments |
- |
- |
- |
- |
118.3 |
|
Cash and Short Term Investments |
675.9 |
1,197.4 |
1,205.4 |
950.3 |
526.6 |
|
Accounts Receivable -
Trade, Gross |
2,945.6 |
2,710.3 |
2,235.7 |
1,973.7 |
1,262.6 |
|
Provision for Doubtful
Accounts |
-9.5 |
-4.4 |
-6.4 |
-10.8 |
-30.7 |
|
Trade Accounts Receivable - Net |
2,943.3 |
2,707.9 |
2,233.2 |
1,965.7 |
1,234.3 |
|
Other Receivables |
92.9 |
96.8 |
53.5 |
52.5 |
79.2 |
|
Total Receivables, Net |
3,036.2 |
2,804.6 |
2,286.7 |
2,018.1 |
1,313.5 |
|
Inventories - Finished Goods |
1,395.9 |
1,258.2 |
1,129.3 |
772.8 |
922.5 |
|
Inventories - Work In Progress |
280.5 |
278.5 |
237.8 |
159.6 |
155.2 |
|
Inventories - Raw Materials |
714.2 |
549.8 |
502.7 |
393.2 |
346.1 |
|
Inventories - Other |
119.2 |
97.2 |
76.9 |
80.9 |
62.2 |
|
Total Inventory |
2,509.8 |
2,183.7 |
1,946.8 |
1,406.5 |
1,486.0 |
|
Prepaid Expenses |
92.0 |
83.1 |
84.8 |
65.4 |
24.1 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
- |
36.9 |
|
Other Current Assets |
674.9 |
30.0 |
20.1 |
91.5 |
8.7 |
|
Other Current Assets, Total |
674.9 |
30.0 |
20.1 |
91.5 |
45.6 |
|
Total Current Assets |
6,988.9 |
6,298.8 |
5,543.8 |
4,531.8 |
3,395.9 |
|
|
|
|
|
|
|
|
Buildings |
2,620.9 |
2,108.4 |
1,853.2 |
1,591.0 |
- |
|
Land/Improvements |
667.9 |
525.1 |
390.7 |
371.1 |
407.5 |
|
Machinery/Equipment |
9,046.0 |
7,153.8 |
6,596.6 |
5,538.1 |
- |
|
Construction in
Progress |
1,256.7 |
1,263.8 |
784.8 |
414.6 |
281.0 |
|
Other
Property/Plant/Equipment |
185.4 |
161.6 |
83.4 |
15.4 |
- |
|
Property/Plant/Equipment - Gross |
13,776.8 |
11,212.6 |
9,708.8 |
7,930.2 |
688.5 |
|
Accumulated Depreciation |
-6,155.0 |
-5,075.3 |
-4,683.6 |
-3,884.6 |
- |
|
Property/Plant/Equipment - Net |
7,828.4 |
6,402.7 |
5,174.1 |
4,100.9 |
4,117.1 |
|
Goodwill, Net |
31.3 |
29.0 |
29.4 |
28.7 |
-159.3 |
|
Intangibles, Net |
188.0 |
150.8 |
129.3 |
110.6 |
99.5 |
|
LT Investment - Affiliate Companies |
379.8 |
285.1 |
188.2 |
188.5 |
98.7 |
|
LT Investments - Other |
20.5 |
5.2 |
3.7 |
3.9 |
49.2 |
|
Long Term Investments |
400.3 |
290.3 |
191.9 |
192.4 |
147.9 |
|
Note Receivable - Long Term |
0.1 |
0.6 |
0.6 |
0.2 |
0.8 |
|
Deferred Income Tax - Long Term Asset |
53.9 |
28.0 |
39.9 |
14.0 |
22.1 |
|
Other Long Term Assets |
57.7 |
68.5 |
58.0 |
64.7 |
105.4 |
|
Other Long Term Assets, Total |
111.7 |
96.4 |
97.9 |
78.7 |
127.4 |
|
Total Assets |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
7,729.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,427.6 |
1,304.8 |
1,147.7 |
941.2 |
536.8 |
|
Accrued Expenses |
- |
- |
1.9 |
- |
59.8 |
|
Notes Payable/Short Term Debt |
1,562.9 |
1,260.3 |
1,110.1 |
1,110.5 |
647.9 |
|
Current Portion - Long Term Debt/Capital Leases |
79.8 |
334.9 |
317.8 |
463.3 |
549.6 |
|
Dividends Payable |
1.0 |
1.0 |
0.0 |
0.1 |
0.4 |
|
Customer Advances |
46.6 |
29.6 |
34.2 |
36.3 |
31.0 |
|
Income Taxes Payable |
134.0 |
251.3 |
361.0 |
172.0 |
284.1 |
|
Other Payables |
718.5 |
824.8 |
723.8 |
583.2 |
448.6 |
|
Other Current Liabilities |
97.4 |
94.0 |
72.4 |
48.4 |
39.1 |
|
Other Current liabilities, Total |
997.6 |
1,200.7 |
1,191.4 |
840.0 |
803.1 |
|
Total Current Liabilities |
4,067.9 |
4,100.6 |
3,769.0 |
3,355.0 |
2,597.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,117.8 |
593.6 |
417.0 |
488.5 |
979.9 |
|
Capital Lease Obligations |
2.9 |
4.5 |
6.4 |
7.7 |
- |
|
Total Long Term Debt |
1,120.7 |
598.2 |
423.4 |
496.3 |
979.9 |
|
Total Debt |
2,763.4 |
2,193.3 |
1,851.3 |
2,070.1 |
2,177.4 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
141.1 |
52.4 |
12.6 |
0.0 |
30.5 |
|
Deferred Income Tax |
141.1 |
52.4 |
12.6 |
0.0 |
30.5 |
|
Minority Interest |
127.6 |
133.9 |
123.7 |
100.9 |
129.4 |
|
Reserves |
10.6 |
2.0 |
- |
- |
- |
|
Pension Benefits - Underfunded |
99.3 |
52.8 |
7.2 |
46.7 |
76.8 |
|
Other Long Term Liabilities |
14.1 |
36.0 |
43.5 |
55.6 |
33.6 |
|
Other Liabilities, Total |
124.0 |
90.8 |
50.6 |
102.3 |
110.4 |
|
Total Liabilities |
5,581.3 |
4,975.8 |
4,379.2 |
4,054.5 |
3,847.3 |
|
|
|
|
|
|
|
|
Preferred Stock - Non Redeemable |
35.8 |
33.1 |
33.6 |
32.8 |
34.4 |
|
Preferred Stock - Non Redeemable, Net |
35.8 |
33.1 |
33.6 |
32.8 |
34.4 |
|
Common Stock |
310.7 |
287.6 |
292.0 |
284.6 |
298.7 |
|
Common Stock |
310.7 |
287.6 |
292.0 |
284.6 |
298.7 |
|
Additional Paid-In Capital |
1,085.7 |
1,005.0 |
1,020.2 |
994.2 |
1,043.7 |
|
Retained Earnings (Accumulated Deficit) |
8,631.6 |
6,990.7 |
5,510.5 |
4,153.0 |
2,411.0 |
|
Treasury Stock - Common |
-14.5 |
-13.4 |
-13.6 |
-13.3 |
-11.9 |
|
Unrealized Gain (Loss) |
- |
- |
- |
- |
11.7 |
|
Translation Adjustment |
- |
- |
- |
- |
107.0 |
|
Other Equity |
-0.2 |
-0.2 |
-0.2 |
-398.5 |
0.3 |
|
Other Comprehensive Income |
-81.6 |
-9.9 |
-54.6 |
-64.0 |
-12.7 |
|
Other Equity, Total |
-81.8 |
-10.1 |
-54.8 |
-462.6 |
94.5 |
|
Total Equity |
9,967.5 |
8,293.0 |
6,787.8 |
4,988.7 |
3,882.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
7,729.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
65.9 |
65.9 |
65.9 |
65.9 |
65.9 |
|
Total Common Shares Outstanding |
65.9 |
65.9 |
65.9 |
65.9 |
65.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.4 |
0.4 |
0.4 |
0.4 |
0.3 |
|
Shares Outstanding - Preferred Stock Primary
Issue |
7.6 |
7.6 |
7.6 |
7.6 |
7.6 |
|
Total Preferred Stock Outstanding |
7.6 |
7.6 |
7.6 |
7.6 |
7.6 |
|
Treasury Shares - Preferred Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
- |
10,722 |
9,304 |
8,194 |
10,698 |
|
Number of Common Shareholders |
- |
- |
90,994 |
- |
46,173 |
|
Deferred Revenue - Current |
46.6 |
29.6 |
34.2 |
36.3 |
31.0 |
|
Total Long Term Debt, Supplemental |
- |
- |
316.2 |
- |
1,282.3 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
316.2 |
- |
550.1 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
- |
404.4 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
- |
184.2 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
- |
72.8 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
- |
588.6 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
- |
72.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
0.0 |
- |
70.8 |
|
Total Capital Leases, Supplemental |
4.9 |
6.3 |
8.0 |
9.2 |
- |
|
Capital Lease Payments Due in Year 1 |
2.0 |
1.7 |
1.6 |
1.4 |
- |
|
Capital Lease Payments Due in Year 2 |
0.7 |
1.1 |
1.6 |
1.9 |
- |
|
Capital Lease Payments Due in Year 3 |
0.7 |
1.1 |
1.6 |
1.9 |
- |
|
Capital Lease Payments Due in Year 4 |
0.7 |
1.1 |
1.6 |
1.9 |
- |
|
Capital Lease Payments Due in Year 5 |
0.7 |
1.1 |
1.6 |
1.9 |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.4 |
2.3 |
3.2 |
3.9 |
- |
|
Capital Lease Payments Due in 4-5 Years |
1.4 |
2.3 |
3.2 |
3.9 |
- |
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 |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
1,668.8 |
2,524.3 |
2,437.5 |
1,544.5 |
895.9 |
|
Depreciation |
758.3 |
668.8 |
565.8 |
444.9 |
514.9 |
|
Depreciation/Depletion |
758.3 |
668.8 |
565.8 |
444.9 |
514.9 |
|
Amortization of Intangibles |
16.9 |
14.2 |
15.5 |
13.3 |
22.3 |
|
Amortization |
16.9 |
14.2 |
15.5 |
13.3 |
22.3 |
|
Deferred Taxes |
- |
- |
- |
- |
-60.8 |
|
Unusual Items |
23.6 |
42.1 |
38.2 |
31.7 |
-50.0 |
|
Equity in Net Earnings (Loss) |
- |
- |
- |
- |
-0.6 |
|
Other Non-Cash Items |
30.7 |
64.4 |
4.2 |
26.8 |
208.7 |
|
Non-Cash Items |
54.3 |
106.6 |
42.3 |
58.5 |
158.1 |
|
Accounts Receivable |
-125.2 |
-514.6 |
-128.3 |
-517.1 |
-17.1 |
|
Inventories |
-196.0 |
-248.8 |
-461.8 |
47.2 |
-247.6 |
|
Prepaid Expenses |
- |
- |
- |
- |
-3.0 |
|
Other Assets |
- |
- |
- |
- |
-0.9 |
|
Accounts Payable |
-60.9 |
251.1 |
246.5 |
712.8 |
-499.4 |
|
Accrued Expenses |
- |
- |
- |
- |
20.2 |
|
Taxes Payable |
- |
- |
- |
- |
98.9 |
|
Other Liabilities |
-62.0 |
-65.9 |
-113.0 |
-34.8 |
-56.9 |
|
Other Operating Cash Flow |
-487.3 |
-713.5 |
-436.2 |
-537.0 |
69.8 |
|
Changes in Working Capital |
-931.4 |
-1,291.7 |
-892.8 |
-328.9 |
-635.9 |
|
Cash from Operating Activities |
1,566.9 |
2,022.2 |
2,168.3 |
1,732.3 |
894.5 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,692.7 |
-1,981.6 |
-1,398.6 |
-861.3 |
-822.7 |
|
Purchase/Acquisition of Intangibles |
-29.4 |
-24.5 |
-21.0 |
-18.4 |
-38.7 |
|
Capital Expenditures |
-1,722.1 |
-2,006.1 |
-1,419.7 |
-879.7 |
-861.3 |
|
Sale of Fixed Assets |
8.2 |
4.4 |
4.4 |
29.2 |
26.5 |
|
Sale/Maturity of Investment |
- |
0.0 |
0.5 |
5.7 |
180.4 |
|
Purchase of Investments |
-81.1 |
-39.0 |
-66.4 |
-18.8 |
-160.0 |
|
Sale of Intangible Assets |
1.8 |
- |
0.2 |
0.6 |
0.5 |
|
Other Investing Cash Flow |
-562.6 |
-17.8 |
78.3 |
33.5 |
27.8 |
|
Other Investing Cash Flow Items, Total |
-633.7 |
-52.3 |
16.9 |
50.1 |
75.1 |
|
Cash from Investing Activities |
-2,355.8 |
-2,058.4 |
-1,402.7 |
-829.6 |
-786.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
-6.7 |
3.0 |
-153.6 |
-598.8 |
|
Financing Cash Flow Items |
- |
-6.7 |
3.0 |
-153.6 |
-598.8 |
|
Total Cash Dividends Paid |
-280.6 |
-287.6 |
-242.1 |
-165.0 |
-151.7 |
|
Sale/Issuance of
Common |
- |
- |
- |
- |
19.5 |
|
Repurchase/Retirement
of Common |
- |
- |
0.0 |
-1.8 |
- |
|
Common Stock, Net |
- |
- |
0.0 |
-1.8 |
19.5 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
0.0 |
-1.8 |
19.5 |
|
Short Term Debt Issued |
- |
- |
- |
- |
296.5 |
|
Short Term Debt
Reduction |
- |
- |
- |
- |
-17.8 |
|
Short Term Debt, Net |
- |
- |
- |
- |
278.7 |
|
Long Term Debt Issued |
- |
- |
- |
234.0 |
237.7 |
|
Long Term Debt
Reduction |
-400.8 |
-891.2 |
-501.3 |
-469.1 |
-4.5 |
|
Long Term Debt, Net |
-400.8 |
-891.2 |
-501.3 |
-235.1 |
233.3 |
|
Total Debt Issued |
899.8 |
1,242.3 |
200.4 |
111.5 |
- |
|
Issuance (Retirement) of Debt, Net |
499.0 |
351.1 |
-300.8 |
-123.6 |
512.0 |
|
Cash from Financing Activities |
218.4 |
56.9 |
-540.0 |
-444.0 |
-219.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-14.0 |
-10.4 |
0.5 |
5.8 |
41.5 |
|
Net Change in Cash |
-584.5 |
10.2 |
226.1 |
464.5 |
-69.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,224.1 |
1,234.8 |
957.0 |
402.4 |
536.6 |
|
Net Cash - Ending Balance |
639.6 |
1,245.0 |
1,183.1 |
867.0 |
467.3 |
|
Cash Interest Paid |
88.3 |
79.5 |
70.8 |
90.1 |
- |
|
Cash Taxes Paid |
383.7 |
621.5 |
366.2 |
459.0 |
- |
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 |
Reclassified
Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Product Revenues |
- |
- |
- |
- |
12,611.5 |
|
Merchandise Revenues |
- |
- |
- |
- |
529.9 |
|
Other Revenue |
- |
- |
- |
- |
83.5 |
|
Sales Revenue |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
- |
|
Total Revenue |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
13,224.9 |
|
|
|
|
|
|
|
|
Cost Manufacturing |
- |
- |
- |
- |
10,624.9 |
|
Merchandise Cost |
- |
- |
- |
- |
529.5 |
|
Cost of Other Sales |
- |
- |
- |
- |
21.3 |
|
Costs of Goods & Services Sold |
17,708.7 |
16,784.0 |
13,381.3 |
9,606.0 |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-335.1 |
-366.0 |
- |
|
Gain on Foreign Currency Translation |
- |
- |
-16.2 |
-22.9 |
- |
|
Gain on Disposal of PPE |
- |
- |
-4.0 |
-0.4 |
- |
|
Gains on Sale of Intangible Assets |
- |
- |
- |
-0.5 |
- |
|
Other Operating Income |
- |
- |
-30.0 |
-22.9 |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
339.4 |
374.2 |
- |
|
Loss on Foreign Currency Translation |
- |
- |
14.2 |
16.4 |
- |
|
Loss on Disposal of PPE |
- |
- |
10.4 |
21.3 |
- |
|
Loss on Disposal of Intangibless |
- |
- |
0.6 |
0.9 |
- |
|
Impairment Loss on PPE |
- |
- |
17.1 |
44.0 |
- |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
13.3 |
- |
|
Other Operating Expense |
- |
- |
19.6 |
55.1 |
- |
|
Salaries & Wages |
234.4 |
228.4 |
190.5 |
149.0 |
157.9 |
|
Retirement Allowance |
16.6 |
13.1 |
7.9 |
10.6 |
14.2 |
|
Employee Benefits |
61.1 |
51.7 |
42.5 |
35.0 |
34.6 |
|
Travel Expense |
26.3 |
20.8 |
19.4 |
14.9 |
17.3 |
|
Utility Expense |
18.4 |
16.5 |
13.5 |
12.1 |
18.4 |
|
Packaging Expense |
4.2 |
4.1 |
3.5 |
3.0 |
2.5 |
|
Usage Fee |
81.6 |
84.8 |
59.7 |
36.0 |
53.0 |
|
Commission Paid |
165.7 |
161.2 |
150.2 |
108.0 |
96.7 |
|
Depreciation |
48.8 |
43.7 |
36.0 |
31.6 |
31.8 |
|
Advertising Expense |
18.0 |
16.6 |
9.9 |
8.2 |
9.9 |
|
Shipping & Handling Expense |
332.4 |
300.2 |
295.3 |
242.0 |
289.0 |
|
Education & Training Expense |
10.9 |
10.2 |
8.8 |
6.3 |
6.7 |
|
Amort. of Intangibless |
11.4 |
9.8 |
10.7 |
7.3 |
12.8 |
|
Other Sales and Administrative Expens |
- |
- |
- |
- |
71.8 |
|
Sample Expense |
11.8 |
7.6 |
6.8 |
5.4 |
5.8 |
|
Research & Development Expense |
- |
- |
- |
- |
25.5 |
|
Expenses-Stock Compensation |
- |
- |
- |
- |
0.9 |
|
Other Selling & Administrative Expense |
198.6 |
170.5 |
147.7 |
128.3 |
- |
|
Total Operating Expense |
18,949.0 |
17,923.1 |
14,399.7 |
10,516.5 |
12,024.5 |
|
|
|
|
|
|
|
|
Interest Income |
26.7 |
24.7 |
23.1 |
14.9 |
5.4 |
|
Dividend Income |
0.1 |
0.1 |
0.2 |
0.4 |
0.1 |
|
Gain on Foreign Currency Transaction |
267.4 |
348.0 |
51.8 |
61.5 |
388.8 |
|
Gain on Foreign Currency Transaction-Fin |
36.6 |
84.0 |
- |
- |
- |
|
Gain on Foreign Currency Translation |
29.8 |
19.5 |
17.6 |
39.6 |
44.3 |
|
Gain on Foreign Currency Translation-Fin |
14.0 |
26.0 |
- |
- |
- |
|
Gain on Disposal of Derivatives to Tradt |
- |
- |
8.6 |
- |
- |
|
Gain on Sale of Risk Avers Derivatives |
- |
- |
2.1 |
24.7 |
- |
|
Gain on Valuatio of Derivatives to Tradt |
- |
- |
1.9 |
- |
- |
|
Other Finance Income |
- |
- |
1.9 |
3.4 |
- |
|
Recovery-Loan Loss Reserve |
- |
- |
- |
- |
6.1 |
|
Gain on Disposal of PPE |
4.4 |
2.1 |
- |
- |
2.6 |
|
Gain on Disposal of Intangibless |
0.1 |
- |
- |
- |
0.0 |
|
Recovery-Negative Goodwill Amortization |
- |
- |
- |
- |
35.6 |
|
Loss-Reduction of Intangible Asset |
- |
- |
- |
- |
-0.1 |
|
Gain on Sale of Derivative for Trading |
9.1 |
32.9 |
- |
- |
66.7 |
|
Gain on Disposal of Derivative for Trad |
- |
8.0 |
- |
- |
48.7 |
|
Gain on Valts of Derivatives for Sale |
2.1 |
- |
11.6 |
0.3 |
- |
|
Gain on Insurance Settlement |
- |
- |
- |
- |
52.5 |
|
Other Non-Operating Income |
28.4 |
39.1 |
- |
- |
27.9 |
|
Interest Expense |
-64.8 |
-60.6 |
-53.0 |
-81.4 |
-88.6 |
|
Loss on Foreign Currency Transaction |
-258.0 |
-360.1 |
-64.1 |
-66.6 |
-414.9 |
|
Loss on Foreign Currency Transaction-Fin |
-59.2 |
-68.5 |
- |
- |
- |
|
Loss on Foreign Currency Translation |
-27.2 |
-21.0 |
-14.5 |
-1.5 |
-195.9 |
|
Loss on Foreign Currency Translation-Fin |
-8.0 |
-8.1 |
- |
- |
- |
|
Loss on Sale of Derivative for Trading |
-4.6 |
-59.5 |
-25.3 |
- |
- |
|
Loss - Valuation of Derivatives to Tradt |
- |
- |
- |
-17.3 |
- |
|
Loss-Valuat of Risk Avers Derivatives |
- |
- |
-1.0 |
-18.1 |
- |
|
Other Finance Expense |
- |
0.0 |
-0.4 |
0.0 |
- |
|
L-Disposal of Investment Assets |
- |
- |
- |
- |
0.0 |
|
Other Amortization |
- |
- |
- |
- |
0.0 |
|
L-Disposal of Accounts Receivables |
- |
- |
- |
- |
-33.2 |
|
Loss-Disposal of Investment Securities |
- |
- |
- |
- |
0.0 |
|
Impairment Loss on PPE |
-1.9 |
- |
- |
- |
- |
|
Loss on Disposal of PPE |
-4.9 |
-6.0 |
- |
- |
-7.4 |
|
Loss on Disposal of Intangibless |
-0.9 |
0.0 |
- |
- |
-0.8 |
|
Donations Paid |
-21.6 |
-22.0 |
- |
- |
-6.5 |
|
Loss-Valt of Derivatives |
- |
- |
- |
- |
-20.4 |
|
Other Non-Operating Expense |
-5.2 |
-12.4 |
-11.2 |
-8.8 |
-34.8 |
|
Gain/Loss under Equity Method |
11.0 |
13.8 |
48.0 |
- |
3.5 |
|
Loss under Equity Method |
- |
- |
- |
-15.5 |
-3.7 |
|
Net Income Before Taxes |
1,668.8 |
2,524.3 |
2,437.5 |
1,579.0 |
1,076.3 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
332.0 |
565.9 |
535.1 |
347.2 |
242.4 |
|
Net Income After Taxes |
1,336.8 |
1,958.4 |
1,902.4 |
1,231.8 |
833.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-10.5 |
-28.7 |
-35.9 |
-24.0 |
15.1 |
|
Net Income Before Extra. Items |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.8 |
848.9 |
|
G/L-Discontinuing Operation |
- |
- |
- |
-25.9 |
62.1 |
|
Common&Preferred Discon. Operation |
- |
- |
- |
25.5 |
- |
|
Extraordinary Item |
- |
- |
- |
0.0 |
- |
|
Net Income |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.4 |
911.0 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-27.4 |
-27.9 |
-26.7 |
-21.2 |
-94.9 |
|
Participated Preferred Dividend |
-110.4 |
-172.5 |
-167.1 |
-104.2 |
- |
|
Income Available to Com Excl ExtraOrd |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.3 |
754.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
816.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
65.9 |
65.9 |
65.9 |
68.1 |
65.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
18.03 |
26.24 |
25.38 |
15.89 |
11.46 |
|
Basic EPS Including ExtraOrdinary Items |
18.03 |
26.24 |
25.38 |
15.88 |
12.40 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
816.0 |
|
Diluted Weighted Average Share |
65.9 |
65.9 |
65.9 |
68.1 |
65.8 |
|
Diluted EPS Excluding ExtraOrd Items |
18.03 |
26.24 |
25.38 |
15.89 |
11.46 |
|
Diluted EPS Including ExtraOrd Items |
18.03 |
26.24 |
25.38 |
15.88 |
12.40 |
|
DPS-Ordinary Shares |
3.55 |
3.61 |
3.46 |
2.74 |
2.58 |
|
Gross Dividends - Common Stock |
234.0 |
238.0 |
228.0 |
180.7 |
170.0 |
|
Normalized Income Before Taxes |
1,670.2 |
2,528.2 |
2,444.5 |
1,600.3 |
1,115.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
332.3 |
566.8 |
536.6 |
351.9 |
251.2 |
|
Normalized Income After Taxes |
1,337.9 |
1,961.4 |
1,907.9 |
1,248.4 |
863.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1,189.5 |
1,732.4 |
1,678.2 |
1,098.9 |
784.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
18.05 |
26.28 |
25.46 |
16.13 |
11.92 |
|
Diluted Normalized EPS |
18.05 |
26.28 |
25.46 |
16.13 |
11.92 |
|
Interest Expense, Supplemental |
64.8 |
60.6 |
53.0 |
81.4 |
88.6 |
|
Interest Capitalized, Supplemental |
-26.9 |
-20.4 |
-16.1 |
-7.3 |
- |
|
Rental Expense, Supplemental |
- |
- |
- |
- |
0.0 |
|
Advertising Expense, Supplemental |
18.0 |
16.6 |
9.9 |
8.2 |
9.9 |
|
R&D Expense, Supplemental |
- |
- |
- |
- |
25.5 |
|
Depreciation, Supplemental |
759.9 |
669.6 |
565.8 |
444.9 |
514.9 |
|
Amort of Intangibles, Suppleme |
16.9 |
14.2 |
15.5 |
13.3 |
22.3 |
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 |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Loans |
- |
- |
0.1 |
- |
- |
|
ST Invmt Assets |
- |
- |
- |
- |
118.3 |
|
Cash & Cash Equivalents |
675.9 |
1,197.4 |
1,205.4 |
950.3 |
408.3 |
|
Other Current Fincl Instrm |
2.2 |
- |
1.9 |
0.3 |
- |
|
Short-Term Guarantee Deposit |
- |
- |
- |
- |
0.0 |
|
Deferred Taxes |
- |
- |
- |
- |
36.9 |
|
Trade Receivable, Net |
2,945.6 |
2,710.3 |
2,235.7 |
1,973.7 |
1,262.6 |
|
Allow. for DA for Trade Receivable |
-9.5 |
-4.4 |
-6.4 |
-10.8 |
-30.7 |
|
Prepaid Income Taxes |
6.9 |
15.5 |
3.0 |
3.5 |
0.5 |
|
Advance Payments |
45.5 |
35.0 |
23.7 |
34.6 |
19.0 |
|
Prepaid Expense |
20.0 |
19.0 |
23.1 |
18.7 |
23.7 |
|
Prepaid Value Added Taxes |
65.1 |
48.7 |
58.7 |
43.2 |
- |
|
Other in Other Current Assets |
48.2 |
12.4 |
6.9 |
4.1 |
- |
|
Other Quick Assets |
- |
- |
- |
- |
8.6 |
|
Merchandises |
81.3 |
77.5 |
53.4 |
39.4 |
93.1 |
|
Allow. for Loss on Valt of Merch |
- |
- |
-0.1 |
-0.3 |
- |
|
Finished Goods |
1,047.1 |
1,000.7 |
898.5 |
607.5 |
692.1 |
|
Allowance for Loss on Valuation of Finis |
- |
- |
-6.9 |
-5.0 |
- |
|
Semi-finished Goods |
280.2 |
275.5 |
236.9 |
159.1 |
154.7 |
|
Work in Progress |
0.3 |
3.0 |
0.9 |
0.5 |
0.5 |
|
Raw Materials |
714.2 |
549.8 |
503.6 |
393.8 |
346.1 |
|
Allowance for Loss on Valuation of Raw M |
- |
- |
-0.9 |
-0.6 |
- |
|
Supplies |
73.6 |
62.2 |
53.2 |
46.4 |
43.2 |
|
Goods in Transit |
267.5 |
180.0 |
184.4 |
131.2 |
137.3 |
|
Account Receivable |
92.9 |
96.8 |
53.5 |
52.5 |
79.2 |
|
Current Fincl Deposits |
602.6 |
10.8 |
4.9 |
87.0 |
- |
|
Guarantee Deposits, Current Assets |
21.9 |
6.7 |
6.4 |
0.1 |
- |
|
Accrued Income |
7.2 |
1.9 |
3.9 |
2.8 |
2.4 |
|
Total Current Assets |
6,988.9 |
6,298.8 |
5,543.8 |
4,531.8 |
3,395.9 |
|
|
|
|
|
|
|
|
LT Financial Assets |
- |
- |
- |
- |
0.0 |
|
Derivatives |
- |
- |
0.0 |
15.5 |
- |
|
Securities Available for Sale |
20.5 |
5.2 |
3.7 |
3.6 |
- |
|
LT Trade Receivable |
- |
- |
- |
0.0 |
0.2 |
|
Allowance for Doubtful Accounts for LT T |
- |
- |
- |
0.0 |
- |
|
LT Trade Receivable, Net |
- |
- |
- |
- |
0.2 |
|
Loans |
0.1 |
0.6 |
0.6 |
0.2 |
0.5 |
|
Affiliates Stock |
379.8 |
285.1 |
188.2 |
188.5 |
98.7 |
|
Investment Securities |
- |
- |
- |
- |
1.7 |
|
Non-Current Fincl Deposits |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Guarantee Deposits, Non-Current Assets |
19.3 |
28.6 |
17.6 |
17.0 |
26.8 |
|
Other LT Assets |
- |
- |
- |
- |
47.5 |
|
Non-Current Prepaid Expense |
38.4 |
39.9 |
40.4 |
32.2 |
37.4 |
|
Other Invmt Assets |
0.0 |
0.0 |
0.0 |
0.3 |
- |
|
Futures-Debit |
- |
- |
- |
- |
41.2 |
|
Deferred Income Tax, Debit |
- |
- |
- |
- |
22.1 |
|
Buildings-Net |
- |
- |
- |
- |
913.9 |
|
Lands |
667.9 |
525.1 |
390.7 |
371.1 |
407.5 |
|
Buildings |
1,857.7 |
1,532.5 |
1,300.0 |
1,093.1 |
- |
|
Buildings-Depreciation |
-312.8 |
-253.6 |
-228.1 |
-189.4 |
- |
|
Buildings-Reduction |
0.0 |
0.0 |
-3.7 |
-5.9 |
- |
|
Structures-Net |
- |
- |
- |
- |
303.1 |
|
Structures |
763.4 |
575.9 |
556.9 |
503.8 |
- |
|
Structures-Depreciation |
-307.5 |
-261.7 |
-245.1 |
-210.4 |
- |
|
Structures-Reduction |
-0.3 |
0.0 |
0.0 |
0.0 |
- |
|
Machinery & Equipment-Net |
- |
- |
- |
- |
1,922.6 |
|
Machineries & Equipments |
8,270.5 |
6,545.2 |
6,104.6 |
5,113.9 |
- |
|
Machineries & Equipments-Depreciation |
-4,975.9 |
-4,126.2 |
-3,852.4 |
-3,195.9 |
- |
|
Machineries & Equipments-Reduction |
-8.5 |
-8.3 |
-23.1 |
-9.2 |
- |
|
Vehicles & Transportation Equipment-Net |
- |
- |
- |
- |
11.0 |
|
Vehicles |
36.5 |
35.8 |
30.3 |
31.3 |
- |
|
Vehicles-Depreciation |
-26.8 |
-24.6 |
-22.9 |
-21.4 |
- |
|
Tools & Equipments-Net |
- |
- |
- |
- |
163.2 |
|
Tools & Equipments |
534.8 |
410.9 |
329.8 |
268.5 |
- |
|
Tools & Equipments-Depreciation |
-296.9 |
-232.0 |
-198.4 |
-164.3 |
- |
|
Tools & Equipments-Reduction |
-3.8 |
-3.5 |
-3.6 |
-3.5 |
- |
|
Fixtures-Net |
- |
- |
- |
- |
50.7 |
|
Fixtures |
216.5 |
173.9 |
158.6 |
137.1 |
- |
|
Fixtures-Depreciation |
-132.5 |
-115.6 |
-107.5 |
-96.9 |
- |
|
Fixtures-Reduction |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
- |
|
Other Tangible Assets-Net |
- |
- |
- |
- |
0.0 |
|
Other Property Plant & Equipment |
185.4 |
161.6 |
83.4 |
15.4 |
- |
|
Other Tangibles-Depreciation |
-102.6 |
-61.5 |
-29.1 |
-6.3 |
- |
|
Construction in Progress |
1,289.4 |
1,294.0 |
815.5 |
444.5 |
281.0 |
|
Construction in Progress-Reduction |
-32.6 |
-30.2 |
-30.7 |
-29.9 |
- |
|
Machines in Transit |
206.5 |
265.4 |
148.9 |
55.3 |
64.0 |
|
Usage Rights on Facility |
- |
- |
- |
- |
7.0 |
|
Development Costs |
39.8 |
29.5 |
22.7 |
20.9 |
37.1 |
|
Industrial Property Rights |
73.7 |
53.7 |
49.1 |
40.5 |
25.7 |
|
Goodwill |
31.3 |
29.0 |
29.4 |
28.7 |
27.3 |
|
Membership Rights |
48.5 |
44.4 |
43.4 |
40.1 |
- |
|
Other Intangibless |
26.0 |
23.2 |
14.1 |
9.0 |
29.7 |
|
Negative Goodwill |
- |
- |
- |
- |
-186.6 |
|
Non-Current Deferred Income Taxes Assets |
53.9 |
28.0 |
39.9 |
14.0 |
- |
|
Total Assets |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
7,729.4 |
|
|
|
|
|
|
|
|
Current Trade Payable |
1,427.6 |
1,304.8 |
1,147.7 |
941.2 |
536.8 |
|
Other Current Payable |
718.5 |
824.8 |
723.8 |
583.2 |
448.6 |
|
Dividend Payable |
1.0 |
1.0 |
0.0 |
0.1 |
0.4 |
|
Advances Received |
35.1 |
18.9 |
24.8 |
27.8 |
22.4 |
|
Unearned Income |
11.5 |
10.8 |
9.3 |
8.6 |
8.6 |
|
VAT Withheld |
- |
- |
1.9 |
- |
- |
|
Withheld |
42.2 |
39.1 |
30.9 |
35.1 |
39.1 |
|
Income Taxes Payable |
134.0 |
251.3 |
361.0 |
172.0 |
284.1 |
|
Accrued Expenses |
- |
- |
- |
- |
59.8 |
|
Other Current Liabilities |
53.3 |
48.2 |
19.0 |
8.7 |
0.0 |
|
Current Borrowings |
1,562.9 |
1,260.3 |
- |
- |
647.9 |
|
Discount Notes |
- |
- |
759.8 |
815.3 |
- |
|
Bank Borrowings |
- |
- |
350.3 |
295.2 |
- |
|
Current Portion of Bonds |
- |
130.1 |
122.9 |
135.9 |
549.6 |
|
Current Portion of Long-Term Borrowings |
77.8 |
203.1 |
193.3 |
325.9 |
- |
|
Current Fincl Lease Liabilities |
2.0 |
1.7 |
1.6 |
1.4 |
- |
|
Liabilities Reserve |
1.8 |
6.3 |
4.4 |
4.5 |
- |
|
Other Current Fincl Liabilities |
0.1 |
0.5 |
18.1 |
0.0 |
- |
|
Total Current Liabilities |
4,067.9 |
4,100.6 |
3,769.0 |
3,355.0 |
2,597.2 |
|
|
|
|
|
|
|
|
Non-Current Borrowings |
557.0 |
334.3 |
285.3 |
252.0 |
693.2 |
|
Bonds |
560.8 |
259.3 |
131.8 |
236.6 |
286.7 |
|
Capital Leased Liabilities, LD |
2.9 |
4.5 |
6.4 |
7.7 |
- |
|
Total Long Term Debt |
1,120.7 |
598.2 |
423.4 |
496.3 |
979.9 |
|
|
|
|
|
|
|
|
Non-Current Derivatives Liabilities |
- |
0.1 |
1.4 |
30.1 |
28.9 |
|
Other Non-Current Payable |
14.1 |
35.9 |
42.1 |
25.3 |
- |
|
LT Trade Account Payable |
- |
- |
- |
- |
0.0 |
|
Security Deposits |
- |
- |
- |
- |
4.7 |
|
Deferred Income Taxes, LT Liabilities |
141.1 |
52.4 |
12.6 |
0.0 |
30.5 |
|
Reserve for Group Severance and Retireme |
- |
- |
- |
- |
76.8 |
|
Provisions for Retirement and Severance |
99.3 |
52.8 |
7.2 |
46.7 |
- |
|
Other LT Liabilities |
- |
- |
- |
0.2 |
0.0 |
|
Non-Current Prov.s |
10.6 |
2.0 |
- |
- |
- |
|
Minority Interests |
127.6 |
133.9 |
123.7 |
100.9 |
129.4 |
|
Total Liabilities |
5,581.3 |
4,975.8 |
4,379.2 |
4,054.5 |
3,847.3 |
|
|
|
|
|
|
|
|
Common Stock |
310.7 |
287.6 |
292.0 |
284.6 |
298.7 |
|
Preferred Stock |
35.8 |
33.1 |
33.6 |
32.8 |
34.4 |
|
Voluntary Reserve |
- |
- |
- |
- |
1,555.1 |
|
Legal Reserve |
- |
- |
- |
- |
58.3 |
|
Other Capital Surplus |
- |
- |
- |
- |
207.9 |
|
Paid-in Capital in Excess of Par |
- |
- |
- |
- |
835.7 |
|
Capital Surplus |
1,085.7 |
1,005.0 |
1,020.2 |
994.2 |
- |
|
Retained Earning Carried Forward |
- |
- |
- |
- |
797.6 |
|
Other Capital Adj. |
- |
- |
- |
- |
0.3 |
|
Capital Change, Equity Method |
- |
- |
- |
- |
12.5 |
|
Capital Change, Equity Method (Loss) |
- |
- |
- |
- |
-0.8 |
|
L-Derivatives Valuation |
- |
- |
- |
- |
-12.7 |
|
Overseas Business Trans. Debit/Credit |
- |
- |
- |
- |
107.0 |
|
Treasury Stock |
-14.5 |
-13.4 |
-13.6 |
-13.3 |
-11.9 |
|
Consolidated Equity Transaction |
-0.2 |
-0.2 |
-0.2 |
0.2 |
- |
|
Loss on Capital Reduction |
- |
- |
- |
-398.7 |
- |
|
Appropriated Retained Earnings for Statu |
- |
- |
135.2 |
84.5 |
- |
|
Voluntary Reserve(1) |
- |
- |
3,073.9 |
2,343.7 |
- |
|
Retained Earnings |
8,631.6 |
6,990.7 |
2,301.5 |
1,724.9 |
- |
|
Accumulated Other Comprehensive Income |
-81.6 |
-9.9 |
-54.6 |
-64.0 |
- |
|
Total Equity |
9,967.5 |
8,293.0 |
6,787.8 |
4,988.7 |
3,882.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
7,729.4 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
65.9 |
65.9 |
65.9 |
65.9 |
65.9 |
|
Total Common Shares Outstanding |
65.9 |
65.9 |
65.9 |
65.9 |
65.9 |
|
T/S-Ordinary Shares |
0.4 |
0.4 |
0.4 |
0.4 |
0.3 |
|
S/O-Preference Shares |
7.6 |
7.6 |
7.6 |
7.6 |
7.6 |
|
Total Preferred Shares Outstanding |
7.6 |
7.6 |
7.6 |
7.6 |
7.6 |
|
T/S-Preference Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
46.6 |
29.6 |
34.2 |
36.3 |
31.0 |
|
Full-Time Employees |
- |
10,722 |
9,304 |
8,194 |
10,698 |
|
Number of Common Shareholders |
- |
- |
90,994 |
- |
46,173 |
|
Long-Term Debts Due in 1 Year |
- |
- |
316.2 |
- |
550.1 |
|
Long-Term Debts Due in 2 Years |
- |
- |
- |
- |
404.4 |
|
Long-Term Debts Due in 3 Years |
- |
- |
- |
- |
184.2 |
|
Long-Term Debts Due in 4 Years |
- |
- |
- |
- |
72.8 |
|
Long-Term Debts Due Remaining |
- |
- |
- |
- |
70.8 |
|
Total Long Term Debt, Supplemental |
- |
- |
316.2 |
- |
1,282.3 |
|
Capital Lease Payments Due within 1 Year |
2.0 |
1.7 |
1.6 |
1.4 |
- |
|
Capital Lease Payments Due in Year 5 |
2.9 |
4.5 |
6.4 |
7.7 |
- |
|
Total Capital Leases, Supplemental |
4.9 |
6.3 |
8.0 |
9.2 |
- |
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 |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
1,668.8 |
2,524.3 |
2,437.5 |
1,544.5 |
895.9 |
|
Depreciation |
758.3 |
668.8 |
565.8 |
444.9 |
514.9 |
|
Amort. of Intangibless |
16.9 |
14.2 |
15.5 |
13.3 |
22.3 |
|
Stock Compensation Expense |
- |
- |
- |
- |
1.2 |
|
Payment for Retirement Allow., ONCI |
50.0 |
39.7 |
34.2 |
35.4 |
59.3 |
|
Provision-Doubtful Account |
- |
- |
- |
- |
1.3 |
|
Cash-Interest Paid |
-88.3 |
-79.5 |
-70.8 |
-90.1 |
- |
|
Cash-Tax Paid |
-383.7 |
-621.5 |
-366.2 |
-459.0 |
- |
|
Amort-Otr Bad Debt E |
- |
- |
- |
- |
0.0 |
|
Finance Income |
-82.8 |
-111.1 |
-66.3 |
-85.9 |
- |
|
Finance Expense |
103.2 |
149.3 |
97.4 |
91.2 |
- |
|
G/L on Foreign Currency Transaction |
-54.1 |
7.6 |
-16.8 |
-118.0 |
- |
|
L-For Currency Translatn |
- |
- |
- |
- |
226.8 |
|
L-Inv.Asset Disposal |
- |
- |
- |
- |
0.2 |
|
Impmt Loss on Tangibles |
1.9 |
- |
- |
- |
0.0 |
|
L-Tangible Asst Disp |
- |
- |
- |
- |
13.0 |
|
Loss-Disposal of Trade Receivable |
- |
- |
- |
- |
36.0 |
|
G-Tangible Asst Disp |
-4.4 |
-2.1 |
-4.0 |
-0.6 |
-6.5 |
|
Other Non-Operating Expense |
- |
- |
- |
- |
12.0 |
|
Accrued Interest Expense |
- |
- |
- |
- |
1.8 |
|
L-LT Investment Secs. Disposal |
- |
- |
- |
- |
0.0 |
|
Loss under Equity Method |
- |
- |
- |
- |
5.5 |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
- |
0.2 |
|
L-Tang Asset Disp |
4.9 |
6.0 |
10.4 |
26.6 |
- |
|
Gain on Sale of Intangibless |
-0.1 |
- |
0.0 |
-0.5 |
-0.1 |
|
L-Intang Asset Disp |
0.9 |
0.0 |
0.6 |
0.9 |
1.0 |
|
Other Expense |
12.0 |
-9.2 |
-35.3 |
90.6 |
- |
|
L-Derivatives Valuation |
- |
- |
- |
- |
23.1 |
|
Gain on Foreign Exchange Translation |
- |
- |
- |
- |
-51.3 |
|
Cash-Interest Received |
22.8 |
26.3 |
22.1 |
18.8 |
-0.1 |
|
Rvrs-Bad Debt Expenses |
- |
- |
- |
- |
-6.1 |
|
Other Non-Operating Income |
- |
- |
- |
- |
-0.8 |
|
Gain under Equity Method |
- |
- |
- |
- |
-6.1 |
|
Recovery of Negative Goodwill |
- |
- |
- |
- |
-35.6 |
|
Gain-Derivatives Valuation |
- |
- |
- |
- |
-59.4 |
|
Gain-Derivatives Transaction |
- |
- |
- |
- |
-57.5 |
|
Inventory |
-196.0 |
-248.8 |
-461.8 |
47.2 |
-255.8 |
|
Trade Receivables |
-106.4 |
-481.7 |
-134.9 |
-504.6 |
-33.1 |
|
Other Receivables |
-18.9 |
-32.9 |
6.6 |
-12.4 |
15.4 |
|
Accrued Income |
- |
- |
- |
- |
0.6 |
|
Advance Payments |
- |
- |
- |
- |
8.2 |
|
Prepaid Expenses |
- |
- |
- |
- |
-4.9 |
|
Prepaid Income Taxes |
- |
- |
- |
- |
1.9 |
|
Other Quick Assets |
- |
- |
- |
- |
-0.9 |
|
Trade Payable |
82.4 |
155.7 |
108.1 |
569.3 |
-445.4 |
|
Other Payable |
-143.2 |
95.4 |
138.4 |
143.5 |
-53.9 |
|
Advances Received |
- |
- |
- |
- |
14.8 |
|
Deposits Withheld |
- |
- |
- |
- |
-13.1 |
|
Derivative Transaction |
4.5 |
-24.6 |
-16.3 |
9.3 |
- |
|
Accrued Expenses |
- |
- |
- |
- |
20.2 |
|
Accrued Income Taxes |
- |
- |
- |
- |
98.9 |
|
Unearned Income |
- |
- |
- |
- |
2.5 |
|
Cash-Dividend Income |
1.4 |
1.7 |
1.0 |
1.1 |
- |
|
Insurance Settlement Proceeds |
- |
- |
- |
- |
69.8 |
|
Payment-Retirement Bonus |
- |
- |
- |
- |
-61.2 |
|
Reserve-Severance & Retirement Benefit |
- |
- |
- |
- |
0.6 |
|
Nation Pension Fund |
- |
- |
- |
- |
0.7 |
|
Retirement Insurance |
- |
- |
- |
- |
-1.1 |
|
Retiremt Allow Paymt |
-66.6 |
-41.3 |
-96.7 |
-44.1 |
- |
|
Other Cash Flow from Operating Activity |
-16.6 |
-14.2 |
-0.3 |
10.9 |
- |
|
Deferred Taxes-Current Asset |
- |
- |
- |
- |
-35.6 |
|
Deferred Income Tax Debit |
- |
- |
- |
- |
-7.7 |
|
Deferred Income Tax Credit, A/L |
- |
- |
- |
- |
-17.4 |
|
Cash from Operating Activities |
1,566.9 |
2,022.2 |
2,168.3 |
1,732.3 |
894.5 |
|
|
|
|
|
|
|
|
Dec-LT Loans |
- |
- |
- |
- |
0.0 |
|
Decrease in Other Receivables |
158.3 |
93.5 |
247.0 |
118.0 |
- |
|
Decs in Other Non-Current Receivables |
0.3 |
11.4 |
6.8 |
2.7 |
- |
|
Decrease-Other Non-Current Assets |
- |
- |
- |
0.2 |
- |
|
Decrease-Investment Securities |
- |
- |
- |
- |
0.1 |
|
Disposal-ST Investment Assets |
- |
- |
- |
- |
121.8 |
|
Decreased Other LT Financial Assets |
- |
0.0 |
0.5 |
5.7 |
- |
|
Dec-LT Finl Asset |
- |
- |
- |
- |
0.1 |
|
Decrease-Derivatives |
- |
- |
- |
- |
58.5 |
|
Dec-Guarantee Deposits |
- |
- |
- |
- |
29.3 |
|
Decrease-Tangible Assets |
8.2 |
4.4 |
4.4 |
29.2 |
- |
|
Disp-Land |
- |
- |
- |
- |
6.9 |
|
Disposal of Building |
- |
- |
- |
- |
0.8 |
|
Disp-Structure |
- |
- |
- |
- |
0.0 |
|
Disp-Machinery |
- |
- |
- |
- |
14.7 |
|
Disp-Vehicles |
- |
- |
- |
- |
0.6 |
|
Disp-Tools/Equipment |
- |
- |
- |
- |
3.4 |
|
Disp-Fixtures |
- |
- |
- |
- |
0.2 |
|
Sale of Intangibless |
1.8 |
- |
0.2 |
0.6 |
0.5 |
|
Increase-ST Investment Assets |
- |
- |
- |
- |
-134.8 |
|
Increase in Other Receivables |
-721.2 |
-99.8 |
-164.3 |
-83.7 |
- |
|
Purchase of Other LT Finacial Instrm |
-14.1 |
-1.6 |
-0.5 |
-3.1 |
- |
|
Incs in Other Non-Current Receivables |
- |
-22.8 |
-11.3 |
-3.5 |
- |
|
Increase-ST Guarantee Deposit |
- |
- |
- |
- |
-0.7 |
|
Decrease-Other LT Assets |
- |
- |
- |
- |
21.2 |
|
Decrease-Other LT Assets |
- |
- |
- |
- |
-24.0 |
|
Increase-Investment Securities |
- |
- |
- |
- |
-0.5 |
|
Cash Flow from Subsidiaries |
- |
- |
-53.6 |
- |
-0.8 |
|
Purchase of Investment in Affiliates & J |
-67.1 |
-37.4 |
-12.3 |
-15.8 |
- |
|
Inc-Guarantee Dep |
- |
- |
- |
- |
-21.9 |
|
Increase-Other Non-Current Assets |
- |
- |
- |
-0.1 |
- |
|
Inc-LT Loans |
- |
- |
- |
- |
-0.1 |
|
Purchase of Tangibles |
-1,692.7 |
-1,981.6 |
-1,398.6 |
-861.3 |
- |
|
Acq-Building |
- |
- |
- |
- |
-0.2 |
|
Acq-Structure |
- |
- |
- |
- |
-0.3 |
|
Acq-Machinery |
- |
- |
- |
- |
-9.0 |
|
Acq-Transportation |
- |
- |
- |
- |
-0.8 |
|
Acq-Tools/Equipmt |
- |
- |
- |
- |
-13.2 |
|
Acq-Fixtures |
- |
- |
- |
- |
-4.2 |
|
Acq-Constructn Prog |
- |
- |
- |
- |
-648.7 |
|
Acq-Mach. in Transit |
- |
- |
- |
- |
-146.3 |
|
Purchase of Intangibless |
-29.4 |
-24.5 |
-21.0 |
-18.4 |
-38.7 |
|
Cash from Investing Activities |
-2,355.8 |
-2,058.4 |
-1,402.7 |
-829.6 |
-786.2 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
- |
- |
- |
- |
296.5 |
|
Increase in Borrowings |
899.8 |
1,242.3 |
200.4 |
111.5 |
- |
|
Inc-Bonds |
- |
- |
- |
- |
131.4 |
|
Inc-LT Borrowing |
- |
- |
- |
- |
106.4 |
|
Proceeds from Issuance of Bonds |
- |
- |
- |
234.0 |
- |
|
Dec-ST Borrowings |
- |
- |
- |
- |
-17.8 |
|
Dividend Paid |
-280.6 |
-287.6 |
-242.1 |
-165.0 |
-151.7 |
|
Dec-Curr LT Liabs |
- |
- |
- |
- |
-578.6 |
|
Dec-LT Borrowings |
- |
- |
- |
- |
-4.5 |
|
Increase-Security Deposit Received |
- |
- |
- |
- |
0.2 |
|
Acq-Treasury Stock |
- |
- |
0.0 |
-1.8 |
- |
|
Disposal-Treasury Stock |
- |
- |
- |
- |
19.5 |
|
Decrease in Borrowings |
-400.8 |
-891.2 |
-501.3 |
-469.1 |
- |
|
Decrease-Security Deposit |
- |
- |
- |
- |
-0.6 |
|
Dec-Minority Interest |
- |
- |
- |
- |
-19.9 |
|
Consolid Scope Adj. |
- |
- |
- |
- |
0.0 |
|
Subsidiaries' Capital Increase |
- |
- |
3.0 |
5.4 |
- |
|
Decrease in Derivatives |
- |
-6.7 |
- |
22.3 |
- |
|
Cash Outflow-Business Spin-Off |
- |
- |
- |
-181.3 |
- |
|
Cash from Financing Activities |
218.4 |
56.9 |
-540.0 |
-444.0 |
-219.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-14.0 |
-10.4 |
0.5 |
5.8 |
41.5 |
|
Net Change in Cash |
-584.5 |
10.2 |
226.1 |
464.5 |
-69.3 |
|
|
|
|
|
|
|
|
Cash Interest Paid |
88.3 |
79.5 |
70.8 |
90.1 |
- |
|
Cash Taxes Paid |
383.7 |
621.5 |
366.2 |
459.0 |
- |
|
Cash and Cash Equivalents at Beginning |
1,224.1 |
1,234.8 |
957.0 |
402.4 |
536.6 |
|
Cash and Cash Equivalents at End |
639.6 |
1,245.0 |
1,183.1 |
867.0 |
467.3 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
Key Indicators USD (mil) |
||||||
|
|
Quarter |
Quarter |
Annual |
1 Year |
3 Year |
5 Year |
|
5.3 |
-99.90% |
20,644.3 |
2.59% |
14.44% |
15.30% |
|
|
- |
- |
1,695.3 |
-32.23% |
-3.07% |
12.38% |
|
|
- |
- |
1,188.5 |
-30.10% |
-1.03% |
20.38% |
|
|
- |
- |
18.03 |
-30.10% |
0.06% |
17.26% |
|
|
0.9 |
-99.93% |
1,722.1 |
-12.69% |
20.00% |
22.79% |
|
|
1.6 |
-99.90% |
1,566.9 |
-21.19% |
-7.22% |
8.41% |
|
|
0.7 |
-99.73% |
-163.9 |
- |
- |
- |
|
|
16.4 |
-99.90% |
15,548.7 |
8.48% |
16.34% |
14.16% |
|
|
5.7 |
-99.91% |
5,581.3 |
3.83% |
8.03% |
4.96% |
|
|
1.0 |
-99.92% |
1,120.7 |
73.44% |
27.40% |
-3.51% |
|
|
- |
- |
65.9 |
0.00% |
0.00% |
0.05% |
|
|
1-ExchangeRate: KRW to USD Average for Period |
1110.687360 |
|
1126.848795 |
|
|
|
|
2-ExchangeRate: KRW to USD Average for Period |
1105.585119 |
|
1126.848795 |
|
|
|
|
3-ExchangeRate: KRW to USD Period End Date |
1074.750000 |
|
1066.400024 |
|
|
|
|
Key Ratios |
|||||||
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
||
|
Profitability |
|||||||
|
14.22% |
18.00% |
20.54% |
21.00% |
14.96% |
|||
|
8.21% |
12.43% |
14.49% |
13.52% |
9.08% |
|||
|
8.08% |
12.33% |
14.47% |
12.99% |
8.14% |
|||
|
5.76% |
8.45% |
9.93% |
8.90% |
5.70% |
|||
|
Financial Strength |
|||||||
|
1.72 |
1.54 |
1.47 |
1.35 |
1.31 |
|||
|
0.11 |
0.07 |
0.06 |
0.10 |
0.25 |
|||
|
0.28 |
0.26 |
0.27 |
0.42 |
0.56 |
|||
|
Management Effectiveness |
|||||||
|
9.45% |
15.52% |
18.96% |
15.52% |
10.04% |
|||
|
13.32% |
22.30% |
28.79% |
26.02% |
19.12% |
|||
|
Efficiency |
|||||||
|
7.19 |
7.78 |
7.87 |
7.75 |
9.05 |
|||
|
7.69 |
7.87 |
8.04 |
6.99 |
7.28 |
|||
|
1.46 |
1.62 |
1.68 |
1.53 |
1.59 |
|||
|
Market Valuation USD (mil) |
|||||||
|
14.49 |
. |
18,068.7 |
|||||
|
0.83 |
. |
0.90 |
|||||
|
1.73 |
. |
8.76 |
|||||
|
18,178.5 |
. |
|
|
||||
|
1-ExchangeRate: KRW to USD on 22-Nov-2013 |
1062.683289 |
|
|
|
|||
|
2-ExchangeRate: KRW to USD on 30-Jun-2013 |
1147.202838 |
|
|
|
|||
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 |
|||||
|
1.72 |
1.54 |
1.47 |
1.35 |
1.31 |
|
|
0.91 |
0.98 |
0.93 |
0.88 |
0.71 |
|
|
2,921.0 |
2,198.2 |
1,774.9 |
1,176.8 |
798.7 |
|
|
0.11 |
0.07 |
0.06 |
0.10 |
0.25 |
|
|
0.28 |
0.26 |
0.27 |
0.42 |
0.56 |
|
|
0.09 |
0.06 |
0.05 |
0.07 |
0.16 |
|
|
0.22 |
0.21 |
0.21 |
0.29 |
0.36 |
|
|
19.69% |
13.76% |
13.63% |
17.26% |
22.51% |
|
|
19.90% |
22.42% |
21.95% |
21.99% |
22.53% |
|
|
12,730.9 |
10,486.3 |
8,639.1 |
7,058.8 |
6,059.5 |
|
|
|
|
|
|
|
|
|
Efficiency |
|||||
|
1.46 |
1.62 |
1.68 |
1.53 |
1.59 |
|
|
7.69 |
7.87 |
8.04 |
6.99 |
7.28 |
|
|
47.48 |
46.37 |
45.38 |
52.24 |
50.13 |
|
|
7.19 |
7.78 |
7.87 |
7.75 |
9.05 |
|
|
50.75 |
46.89 |
46.35 |
47.09 |
40.32 |
|
|
- |
1,835,821 |
1,844,043 |
1,626,628 |
1,080,166 |
|
|
- |
228,207 |
267,194 |
219,850 |
98,045 |
|
|
- |
289,532 |
330,846 |
281,141 |
141,918 |
|
|
|
|
|
|
|
|
|
Profitability |
|||||
|
14.22% |
18.00% |
20.54% |
21.00% |
14.96% |
|
|
8.21% |
12.43% |
14.49% |
13.52% |
9.08% |
|
|
11.97% |
15.77% |
17.94% |
17.28% |
13.14% |
|
|
8.21% |
12.43% |
14.49% |
13.52% |
9.08% |
|
|
8.08% |
12.33% |
14.47% |
12.99% |
8.14% |
|
|
5.76% |
8.45% |
9.93% |
8.90% |
5.70% |
|
|
- |
- |
- |
- |
0.19% |
|
|
85.78% |
82.00% |
79.46% |
79.00% |
84.50% |
|
|
5.72% |
5.30% |
5.67% |
6.24% |
5.89% |
|
|
|
|
|
|
|
|
|
Management Effectiveness |
|||||
|
9.45% |
15.52% |
18.96% |
15.52% |
10.04% |
|
|
13.32% |
22.30% |
28.79% |
26.02% |
19.12% |
|
|
|
|
|
|
|
|
|
Valuation |
|||||
|
-2.49 |
0.23 |
11.57 |
14.18 |
0.44 |
|
|
25.12 |
29.51 |
33.52 |
28.81 |
11.85 |
|
|
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 |
|
Current Market Multiples |
|
|
14.57 |
|
|
1.73 |
|
|
0.83 |
|
|
10.40 |
|
|
8.16 |
|
|
15.63 |
|
|
1.85 |
|
|
0.90 |
|
|
11.15 |
|
|
8.76 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
|
UK Pound |
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report
Prepared by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.