MIRA
INFORM REPORT
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Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
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Name : |
LG HAUSYS, LTD. |
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Registered Office : |
One IFC Bldg., 23, Yeouido-Dong, Yeongdeungpo-Gu, Seoul, 150876 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.04.2009 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacturer
of construction materials |
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No. of Employees : |
2772 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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.
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Source : CIA |
Company name & address
LG HAUSYS,
LTD.
One IFC Bldg., 23, Yeouido-Dong, Yeongdeungpo-Gu
Seoul, 150876
Korea, Republic of
Tel: 82-2-37771114
Fax: 82-2-37737921
Web: www.lghausys.co.kr
Synthesis
Employees: 2,772
Company Type: Public Parent
Corporate Family: 2
Companies
Traded: Korea Stock Exchange: 108670
Incorporation Date:
02-Apr-2009
Auditor: PricewaterhouseCoopers LLP
Financials in: USD
(mIllions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: South
Korean Won
Annual Sales: 2,211.5 1
Net Income: 42.0
Total Assets: 1,686.2 2
Market Value: 649.5 (09-Nov-2012)
business Description
LG Hausys, Ltd. is a Korea-based company mainly engaged in the manufacture of construction materials. The Company operates in two business segments: construction material segment, and highly functional material and component segment. Its construction material segment manufactures polyvinyl chloride (PVC) windows, aluminum windows, functional glasses, flooring materials, wallpapers and artificial marble products. Its highly functional material and component segment manufactures gloss sheet products, decoration sheet products and functional adhesive materials, as well as automotive components, among others. The Company distributes its products within domestic market and to overseas markets. For the six months ended 30 June 2012, LG HAUSYS, LTD. revenues increased 2% to W1.2T. Net income applicable to common stockholders excluding extraordinary items decreased 2% to W19.43B. Revenues reflect High Professional Qualification Material segment increase of 7% to W487.44B, Common Segments and Other increase from W1.6B to W10.75B, Other Foreign segment increase of 29% to W74.28B, Western Europe segment increase of 14% to W42.04B.
Industry
Industry Fabricated Plastic and Rubber
ANZSIC 2006: 1919 - Other
Polymer Product Manufacturing
NACE 2002: 2524 - Manufacture
of other plastic products
NAICS 2002: 326199 - All Other
Plastics Product Manufacturing
UK SIC 2003: 2524 - Manufacture
of other plastic products
UK SIC 2007: 2229 - Manufacture
of other plastic products
US SIC 1987: 3089 - Plastics
Products, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Myeong Ho Han |
Chief Executive Officer, Director |
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Hong Gi Kim |
Chief Financial Officer, Director |
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Tae Sun Yoon |
Chief Human Resource Officer, Assistant Managing Director |
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Jun Ho Cho |
Chairman of the Board |
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Myeong Hwan Kim |
Non-Executive Independent Director |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Strategic Combinations |
1 |
Faurecia SA and LG Hausys Sign Partnership |
11-Jan-2012 |
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Special Events / Other |
1 |
LG Hausys Ltd Announces Production Halted at Ulsan Plant |
16-Nov-2012 |
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Dividends |
1 |
LG Hausys Ltd Declares Annual Cash Dividend for FY 2011 |
31-Jan-2012 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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WIPO PUBLISHES PATENT OF LG HAUSYS, LEE MYUNG,
JUNG SEONG-MOON, JANG SUK, KIM EUN-JOO FOR "GLASS FIBER BOARD AND A
PRODUCTION METHOD THEREFOR" (SOUTH... |
21-Nov-2012 |
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US Patent Issued to LG Hausys on Nov. 20
for "Bottom Panel for Construction" (South Korean Inventor) |
21-Nov-2012 |
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Launch Announcement: Professional Builder
and Building Design+Construction Bring GreenZone Structures to Greenbuild in
San Francisco |
31-Oct-2012 |
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Studies by S.J. Park and Co-Authors Describe
New Findings in Chalcogens |
12-Sep-2012 |
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Cilio Technologies Lowers the Cost of
Doing Business for Installed Sales Manufacturers and Retailers with New Price
Structure |
10-Sep-2012 |
Financial Summary
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As of 30-Jun-2012 |
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152
Corporate Overview
Location
One IFC Bldg.
, 23, Yeouido-Dong, Yeongdeungpo-Gu
Seoul, 150876
Korea, Republic of
Tel: 82-2-37771114
Fax: 82-2-37737921
Web: www.lghausys.co.kr
Quote Symbol - Exchange
108670 - Korea
Stock Exchange
Sales KRW(mil): 2,450,105.0
Assets KRW(mil): 1,942,481.0
Employees: 2,772
Fiscal Year End: 31-Dec-2011
Industry: Fabricated Plastic and Rubber
Incorporation Date: 02-Apr-2009
Company Type: Public Parent
Quoted Status: Quoted
Chief Executive
Officer, Director:
Myeong Ho Han
Company Web Links
Corporate History/Profile
Executives
Financial Information
Home Page
Investor Relations
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1919 - Other Polymer Product Manufacturing
1332 - Rope, Cordage and Twine Manufacturing
1915 - Adhesive Manufacturing
2010 - Glass and Glass Product Manufacturing
231 - Motor Vehicle and Motor Vehicle Part Manufacturing
1522 - Paper Bag Manufacturing
2229 - Other Structural Metal Product Manufacturing
1411 - Log Sawmilling
NACE 2002 Codes:
2524 - Manufacture of other plastic products
1754 - Manufacture of other textiles not elsewhere classified
2615 - Manufacture and processing of other glass including
technical glassware
2462 - Manufacture of glues and gelatine
2020 - Manufacture of veneer sheets; manufacture of plywood, laminboard,
particle board, fibre board and other panels and boards
2812 - Manufacture of builders' carpentry and joinery of metal
2112 - Manufacture of paper and paperboard
3410 - Manufacture of motor vehicles
NAICS 2002 Codes:
326199 - All Other Plastics Product Manufacturing
314999 - All Other Miscellaneous Textile Product Mills
325520 - Adhesive Manufacturing
327215 - Glass Product Manufacturing Made of Purchased Glass
336312 - Gasoline Engine and Engine Parts Manufacturing
322222 - Coated and Laminated Paper Manufacturing
332321 - Metal Window and Door Manufacturing
321918 - Other Millwork (including Flooring )
US SIC 1987:
3089 - Plastics Products, Not Elsewhere Classified
2299 - Textile goods, Not Elsewhere Classified
3231 - Glass Products, Made of Purchased Glass
2891 - Adhesives and Sealants
2431 - Millwork
3442 - Metal Doors, Sash, Frames, Molding, and Trim Manufacturing
2672 - Coated and Laminated Paper, Not Elsewhere Classified
3714 - Motor Vehicle Parts and Accessories
UK SIC 2003:
2524 - Manufacture of other plastic products
17549 - Manufacture of other textiles not elsewhere classified
2615 - Manufacture and processing of other glass including
technical glassware
2462 - Manufacture of glues and gelatine
2020 - Manufacture of veneer sheets; manufacture of plywood,
laminboard, particle board, fibre board and other panels and boards
2812 - Manufacture of builders' carpentry and joinery of metal
2112 - Manufacture of paper and paperboard
3410 - Manufacture of motor vehicles
UK SIC 2007:
2229 - Manufacture of other plastic products
1396 - Manufacture of other technical and industrial textiles
2052 - Manufacture of glues
2319 - Manufacture and processing of other glass, including
technical glassware
2910 - Manufacture of motor vehicles
1712 - Manufacture of paper and paperboard
2512 - Manufacture of doors and windows of metal
1621 - Manufacture of veneer sheets and wood-based panels
Business
Description
LG Hausys, Ltd. is
a Korea-based company mainly engaged in the manufacture of construction
materials. The Company operates in two business segments: construction material
segment, and highly functional material and component segment. Its construction
material segment manufactures polyvinyl chloride (PVC) windows, aluminum
windows, functional glasses, flooring materials, wallpapers and artificial
marble products. Its highly functional material and component segment
manufactures gloss sheet products, decoration sheet products and functional
adhesive materials, as well as automotive components, among others. The Company
distributes its products within domestic market and to overseas markets. For
the six months ended 30 June 2012, LG HAUSYS, LTD. revenues increased 2% to
W1.2T. Net income applicable to common stockholders excluding extraordinary
items decreased 2% to W19.43B. Revenues reflect High Professional Qualification
Material segment increase of 7% to W487.44B, Common Segments and Other increase
from W1.6B to W10.75B, Other Foreign segment increase of 29% to W74.28B, Western
Europe segment increase of 14% to W42.04B.
More Business
Descriptions
Manufacture of
construction materials including aluminium and PVC windows, glasses, flooring
and artificial marble products
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Corporate Family |
Corporate
Structure News: |
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LG
HAUSYS, LTD. |
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LG HAUSYS, LTD. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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LG HAUSYS, LTD. |
Parent |
Seoul |
Korea, Republic of |
Fabricated Plastic and Rubber |
2,211.5 |
2,772 |
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Lgkhsr Ooo |
Subsidiary |
Moscow |
Russian Federation |
Fabricated Plastic and Rubber |
15.5 |
417 |
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Executive report
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Board of
Directors |
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Chairman of the Board |
Chairman |
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Chief Executive Officer, Director |
Director/Board Member |
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Chief Financial Officer, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Chief Executive Officer, Director |
Chief Executive Officer |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Chief Human Resource Officer, Assistant Managing Director |
Managing Director |
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Chief Financial Officer, Director |
Finance Executive |
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Significant Developments
LG Hausys Ltd Announces Production Halted at Ulsan Plant Nov 16,
2012
LG Hausys Ltd announced that the production has been halted at its Ulsan plant due to a fire disaster. The fire damaged part of the plant's vehicle material production lines and polyvinyl chloride (PVC) flooring production lines.
LG Hausys Ltd Declares Annual Cash Dividend for FY 2011 Jan 31, 2012
LG HAUSYS LTD . announced that its Board of Directors has declared an annual cash dividend of KRW 1,000 per share of common stock and KRW 1,050 per share of preferred stock for the fiscal year 2011 to shareholders of record on December 31, 2011. The dividend rates of market prices are 1.2% (common shares) and 4.6% (preferred shares), respectively. The total cash dividend amount is KRW 10,031,234,950.
Faurecia SA and LG Hausys Sign Partnership Jan 11, 2012
Faurecia SA announced that the Company and LG Hausys signed a
partnership to jointly develop vehicle interior decoration films. This alliance
will be focused on a joint creation work on decorative film patterns, as well
as a joint development work on decorative technologies and applications.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
9 Months |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
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Filed Currency |
KRW |
KRW |
KRW |
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Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
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Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
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Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
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Net Sales |
2,211.5 |
1,939.0 |
1,302.5 |
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Revenue |
2,211.5 |
1,939.0 |
1,302.5 |
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Total Revenue |
2,211.5 |
1,939.0 |
1,302.5 |
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Cost of Revenue |
1,773.4 |
1,548.0 |
1,038.7 |
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Cost of Revenue, Total |
1,773.4 |
1,548.0 |
1,038.7 |
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Gross Profit |
438.1 |
391.0 |
263.8 |
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Selling/General/Administrative Expense |
213.2 |
191.7 |
117.5 |
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Labor & Related Expense |
116.6 |
101.3 |
62.8 |
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Advertising Expense |
20.3 |
21.7 |
16.3 |
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Total Selling/General/Administrative Expenses |
350.1 |
314.7 |
196.6 |
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Research & Development |
8.5 |
8.2 |
4.9 |
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Depreciation |
16.1 |
14.1 |
8.7 |
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Amortization of Intangibles |
2.3 |
1.8 |
1.0 |
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Depreciation/Amortization |
18.4 |
16.0 |
9.7 |
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Investment Income -
Operating |
0.8 |
1.2 |
1.3 |
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Interest/Investment Income - Operating |
0.8 |
1.2 |
1.3 |
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Interest Expense (Income) - Net Operating Total |
0.8 |
1.2 |
1.3 |
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Loss (Gain) on Sale of Assets - Operating |
-2.4 |
-1.9 |
8.3 |
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Unusual Expense (Income) |
-2.4 |
-1.9 |
8.3 |
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Other Operating Expense |
2.7 |
4.3 |
11.5 |
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Other, Net |
-5.2 |
-6.5 |
-2.1 |
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Other Operating Expenses, Total |
-2.4 |
-2.1 |
9.4 |
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Total Operating Expense |
2,146.2 |
1,884.1 |
1,269.0 |
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Operating Income |
65.3 |
54.9 |
33.5 |
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Interest Expense -
Non-Operating |
-17.0 |
-14.3 |
-10.2 |
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Interest Expense, Net Non-Operating |
-17.0 |
-14.3 |
-10.2 |
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Interest Income -
Non-Operating |
6.3 |
7.5 |
4.1 |
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Investment Income -
Non-Operating |
0.0 |
1.2 |
0.3 |
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Interest/Investment Income - Non-Operating |
6.3 |
8.7 |
4.4 |
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Interest Income (Expense) - Net Non-Operating Total |
-10.7 |
-5.5 |
-5.9 |
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Other Non-Operating Income (Expense) |
-0.4 |
-1.0 |
-3.2 |
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Other, Net |
-0.4 |
-1.0 |
-3.2 |
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Income Before Tax |
54.1 |
48.3 |
24.4 |
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Total Income Tax |
11.0 |
12.3 |
2.6 |
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Income After Tax |
43.2 |
36.0 |
21.8 |
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Minority Interest |
0.2 |
0.6 |
-0.5 |
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Net Income Before Extraord Items |
43.4 |
36.7 |
21.3 |
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Discontinued Operations |
-1.4 |
-1.4 |
-3.4 |
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Total Extraord Items |
-1.4 |
-1.4 |
-3.4 |
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Net Income |
42.0 |
35.3 |
17.9 |
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Preferred Dividends |
-4.4 |
-3.7 |
-1.9 |
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Total Adjustments to Net Income |
-4.4 |
-3.7 |
-1.9 |
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Income Available to Common Excl Extraord Items |
39.0 |
33.0 |
19.4 |
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Income Available to Common Incl Extraord Items |
37.6 |
31.6 |
16.0 |
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Basic/Primary Weighted Average Shares |
8.9 |
8.9 |
9.0 |
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Basic EPS Excl Extraord Items |
4.36 |
3.69 |
2.17 |
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Basic/Primary EPS Incl Extraord Items |
4.21 |
3.53 |
1.79 |
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Dilution Adjustment |
0.0 |
0.0 |
0.0 |
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Diluted Net Income |
37.6 |
31.6 |
16.0 |
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Diluted Weighted Average Shares |
8.9 |
8.9 |
9.0 |
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Diluted EPS Excl Extraord Items |
4.36 |
3.69 |
2.17 |
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Diluted EPS Incl Extraord Items |
4.21 |
3.53 |
1.79 |
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Dividends per Share - Common Stock Primary Issue |
0.90 |
0.86 |
0.78 |
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Gross Dividends - Common Stock |
8.1 |
7.7 |
7.0 |
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Interest Expense, Supplemental |
17.0 |
14.3 |
10.2 |
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Interest Capitalized, Supplemental |
-0.3 |
-0.2 |
-0.4 |
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Depreciation, Supplemental |
62.0 |
55.5 |
37.8 |
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Total Special Items |
-2.4 |
-1.9 |
8.3 |
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Normalized Income Before Tax |
51.7 |
46.5 |
32.8 |
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Effect of Special Items on Income Taxes |
-0.5 |
-0.5 |
0.9 |
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Inc Tax Ex Impact of Sp Items |
10.5 |
11.8 |
3.5 |
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Normalized Income After Tax |
41.2 |
34.6 |
29.2 |
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Normalized Inc. Avail to Com. |
37.1 |
31.6 |
26.8 |
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Basic Normalized EPS |
4.14 |
3.53 |
3.00 |
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Diluted Normalized EPS |
4.14 |
3.53 |
3.00 |
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Amort of Intangibles, Supplemental |
2.6 |
2.2 |
1.4 |
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Advertising Expense, Supplemental |
20.3 |
21.7 |
16.3 |
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Research & Development Exp, Supplemental |
8.5 |
8.2 |
4.9 |
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Normalized EBIT |
63.6 |
54.3 |
43.2 |
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Normalized EBITDA |
128.2 |
111.9 |
82.4 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
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Filed Currency |
KRW |
KRW |
KRW |
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Exchange Rate |
1152 |
1134.9 |
1164.475 |
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Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
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Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
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Cash & Equivalents |
285.3 |
171.7 |
190.5 |
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Short Term Investments |
64.8 |
53.0 |
0.0 |
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Cash and Short Term Investments |
350.1 |
224.7 |
190.5 |
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Accounts Receivable -
Trade, Gross |
390.6 |
331.1 |
358.9 |
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Provision for Doubtful
Accounts |
-10.5 |
-11.4 |
-21.5 |
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Trade Accounts Receivable - Net |
381.7 |
321.4 |
337.4 |
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Other Receivables |
28.3 |
20.0 |
43.1 |
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Total Receivables, Net |
410.0 |
341.4 |
380.6 |
|
Inventories - Finished Goods |
127.9 |
96.0 |
75.0 |
|
Inventories - Work In Progress |
14.1 |
11.8 |
9.3 |
|
Inventories - Raw Materials |
32.4 |
19.9 |
13.1 |
|
Inventories - Other |
9.2 |
7.6 |
4.3 |
|
Total Inventory |
183.6 |
135.4 |
101.8 |
|
Prepaid Expenses |
14.9 |
10.6 |
9.1 |
|
Other Current Assets |
0.8 |
1.0 |
0.4 |
|
Other Current Assets, Total |
0.8 |
1.0 |
0.4 |
|
Total Current Assets |
959.3 |
713.1 |
682.4 |
|
|
|
|
|
|
Buildings |
198.0 |
195.2 |
173.6 |
|
Land/Improvements |
48.7 |
64.5 |
62.2 |
|
Machinery/Equipment |
816.0 |
711.3 |
671.0 |
|
Construction in
Progress |
97.9 |
98.5 |
38.5 |
|
Property/Plant/Equipment - Gross |
1,160.6 |
1,069.5 |
945.3 |
|
Accumulated Depreciation |
-531.2 |
-509.2 |
-484.6 |
|
Property/Plant/Equipment - Net |
629.4 |
560.3 |
460.7 |
|
Intangibles, Net |
25.8 |
22.3 |
17.3 |
|
LT Investment - Affiliate Companies |
5.2 |
- |
- |
|
LT Investments - Other |
1.5 |
2.1 |
2.0 |
|
Long Term Investments |
6.7 |
2.1 |
2.0 |
|
Note Receivable - Long Term |
2.1 |
3.7 |
15.2 |
|
Deferred Income Tax - Long Term Asset |
15.0 |
18.4 |
22.2 |
|
Discontinued Operations - Long Term Asset |
18.7 |
1.0 |
1.2 |
|
Other Long Term Assets |
29.2 |
18.1 |
3.1 |
|
Other Long Term Assets, Total |
62.9 |
37.5 |
26.5 |
|
Total Assets |
1,686.2 |
1,339.1 |
1,204.0 |
|
|
|
|
|
|
Accounts Payable |
186.3 |
174.9 |
166.1 |
|
Accrued Expenses |
21.2 |
17.8 |
15.9 |
|
Notes Payable/Short Term Debt |
273.5 |
190.6 |
121.9 |
|
Current Portion - Long Term Debt/Capital Leases |
130.3 |
0.1 |
- |
|
Customer Advances |
18.8 |
4.5 |
5.1 |
|
Income Taxes Payable |
2.3 |
1.4 |
- |
|
Other Payables |
130.5 |
120.8 |
119.9 |
|
Other Current Liabilities |
12.0 |
15.3 |
8.8 |
|
Other Current liabilities, Total |
163.6 |
141.9 |
133.7 |
|
Total Current Liabilities |
774.9 |
525.3 |
437.7 |
|
|
|
|
|
|
Long Term Debt |
271.4 |
185.9 |
181.1 |
|
Total Long Term Debt |
271.4 |
185.9 |
181.1 |
|
Total Debt |
675.2 |
376.6 |
303.0 |
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.1 |
0.0 |
- |
|
Deferred Income Tax |
0.1 |
0.0 |
- |
|
Minority Interest |
0.7 |
6.7 |
2.6 |
|
Pension Benefits - Underfunded |
12.4 |
13.0 |
10.1 |
|
Other Long Term Liabilities |
0.4 |
1.6 |
1.6 |
|
Other Liabilities, Total |
12.8 |
14.6 |
11.7 |
|
Total Liabilities |
1,059.9 |
732.6 |
633.1 |
|
|
|
|
|
|
Preferred Stock - Non Redeemable |
4.5 |
4.5 |
4.4 |
|
Preferred Stock - Non Redeemable, Net |
4.5 |
4.5 |
4.4 |
|
Common Stock |
38.9 |
39.5 |
38.5 |
|
Common Stock |
38.9 |
39.5 |
38.5 |
|
Additional Paid-In Capital |
536.6 |
544.7 |
530.9 |
|
Retained Earnings (Accumulated Deficit) |
78.2 |
47.3 |
18.1 |
|
Unrealized Gain (Loss) |
-15.7 |
-8.1 |
- |
|
Translation Adjustment |
-9.2 |
-14.2 |
- |
|
Other Equity |
-7.1 |
-7.2 |
-7.0 |
|
Other Comprehensive Income |
- |
- |
-13.9 |
|
Other Equity, Total |
-16.3 |
-21.4 |
-20.9 |
|
Total Equity |
626.3 |
606.5 |
570.9 |
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,686.2 |
1,339.1 |
1,204.0 |
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
8.9 |
8.9 |
8.9 |
|
Total Common Shares Outstanding |
8.9 |
8.9 |
8.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
|
Shares Outstanding - Preferred Stock Primary
Issue |
1.0 |
1.0 |
1.0 |
|
Total Preferred Stock Outstanding |
1.0 |
1.0 |
1.0 |
|
Treasury Shares - Preferred Primary Issue |
0.0 |
0.0 |
0.0 |
|
Employees |
2,696 |
2,682 |
2,731 |
|
Number of Common Shareholders |
- |
21,251 |
17,815 |
|
Deferred Revenue - Current |
18.8 |
4.5 |
5.1 |
|
Total Long Term Debt, Supplemental |
- |
0.1 |
207.6 |
|
Long Term Debt Maturing within 1 Year |
- |
0.1 |
26.0 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
0.1 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
128.9 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
51.6 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
129.0 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
51.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
0.0 |
1.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
Net Income/Starting Line |
54.1 |
48.3 |
20.0 |
|
Depreciation |
62.0 |
55.5 |
37.8 |
|
Depreciation/Depletion |
62.0 |
55.5 |
37.8 |
|
Amortization of Intangibles |
2.6 |
2.2 |
1.4 |
|
Amortization |
2.6 |
2.2 |
1.4 |
|
Discontinued Operations |
-1.8 |
-1.8 |
- |
|
Unusual Items |
-14.0 |
-1.8 |
15.7 |
|
Other Non-Cash Items |
26.8 |
7.9 |
18.8 |
|
Non-Cash Items |
11.0 |
4.3 |
34.5 |
|
Accounts Receivable |
-76.7 |
22.2 |
-181.8 |
|
Inventories |
-53.8 |
-29.1 |
17.9 |
|
Other Assets |
-4.1 |
1.9 |
-9.4 |
|
Accounts Payable |
30.5 |
4.8 |
141.3 |
|
Other Liabilities |
-6.3 |
-15.8 |
-4.3 |
|
Other Operating Cash Flow |
-13.8 |
-6.6 |
-10.2 |
|
Changes in Working Capital |
-124.2 |
-22.6 |
-46.5 |
|
Cash from Operating Activities |
5.5 |
87.7 |
47.2 |
|
|
|
|
|
|
Purchase of Fixed Assets |
-201.8 |
-161.0 |
-63.7 |
|
Purchase/Acquisition of Intangibles |
-3.2 |
-1.6 |
-1.2 |
|
Capital Expenditures |
-205.0 |
-162.6 |
-64.9 |
|
Sale of Fixed Assets |
22.0 |
16.1 |
8.9 |
|
Sale/Maturity of Investment |
0.7 |
0.0 |
0.0 |
|
Investment, Net |
-0.5 |
- |
- |
|
Purchase of Investments |
- |
0.0 |
0.0 |
|
Sale of Intangible Assets |
0.3 |
0.1 |
0.0 |
|
Other Investing Cash Flow |
-3.0 |
-30.2 |
-21.9 |
|
Other Investing Cash Flow Items, Total |
19.6 |
-14.0 |
-13.0 |
|
Cash from Investing Activities |
-185.3 |
-176.6 |
-77.9 |
|
|
|
|
|
|
Other Financing Cash Flow |
- |
4.6 |
-2.2 |
|
Financing Cash Flow Items |
- |
4.6 |
-2.2 |
|
Total Cash Dividends Paid |
-9.1 |
-8.7 |
- |
|
Repurchase/Retirement
of Common |
- |
- |
-1.6 |
|
Common Stock, Net |
- |
- |
-1.6 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
-1.6 |
|
Total Debt Issued |
790.9 |
356.3 |
57.8 |
|
Total Debt Reduction |
-480.6 |
-287.2 |
-31.4 |
|
Issuance (Retirement) of Debt, Net |
310.3 |
69.1 |
26.4 |
|
Cash from Financing Activities |
301.2 |
65.1 |
22.6 |
|
|
|
|
|
|
Foreign Exchange Effects |
-0.7 |
0.5 |
-2.2 |
|
Net Change in Cash |
120.7 |
-23.3 |
-10.2 |
|
|
|
|
|
|
Net Cash - Beginning Balance |
175.9 |
191.8 |
184.0 |
|
Net Cash - Ending Balance |
296.6 |
168.6 |
173.8 |
|
Cash Interest Paid |
15.5 |
11.9 |
7.6 |
|
Cash Taxes Paid |
4.8 |
1.1 |
7.0 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
Sales Revenue |
2,211.5 |
1,939.0 |
1,302.5 |
|
Total Revenue |
2,211.5 |
1,939.0 |
1,302.5 |
|
|
|
|
|
|
Cost-Revenue |
1,773.4 |
1,548.0 |
1,038.7 |
|
Salaries and Wages |
93.6 |
81.2 |
49.3 |
|
Retirement and Severance Benefits |
4.9 |
3.1 |
3.6 |
|
Employee Benefits |
18.1 |
17.0 |
9.8 |
|
Travel Expenses |
13.3 |
12.5 |
7.3 |
|
Utility Expenses |
1.4 |
1.1 |
2.8 |
|
Usage Fee |
10.1 |
10.3 |
6.2 |
|
Commission Paid |
50.3 |
48.0 |
28.5 |
|
Freight Expenses |
53.2 |
47.1 |
25.7 |
|
Packaging Expenses |
8.2 |
6.9 |
2.8 |
|
Advertising Expenses |
20.3 |
21.7 |
16.3 |
|
Training Expenses |
2.8 |
2.1 |
1.7 |
|
Sample Expenses |
17.2 |
18.5 |
7.1 |
|
Research & Development Expense |
8.5 |
8.2 |
4.9 |
|
Depreciation |
16.1 |
14.1 |
8.7 |
|
Amortization of Intangible Assets |
2.3 |
1.8 |
1.0 |
|
Other Selling and Administrative Expense |
56.6 |
45.2 |
35.5 |
|
Gain on Disposal of Tangible Assets |
-5.5 |
-4.9 |
-0.3 |
|
Gain on Foreign Currency Transactions |
-13.2 |
-11.7 |
-2.2 |
|
Gains on Foreign Currency Translation |
-6.4 |
-3.7 |
-1.4 |
|
Recovery-Loan Loss Reserve |
-2.2 |
-2.4 |
- |
|
Other Operating Income |
-3.0 |
-4.1 |
-2.1 |
|
Loss on Disposal of Tangible Assets |
3.0 |
3.0 |
8.6 |
|
Loss on Disposal of Intangible Assets |
0.1 |
0.0 |
- |
|
Losses on Foreign Currency Transactions |
12.5 |
12.9 |
2.6 |
|
Losses on Foreign Currency Translation |
7.8 |
3.7 |
2.3 |
|
Other Operating Expense |
2.7 |
4.3 |
11.5 |
|
Total Operating Expense |
2,146.2 |
1,884.1 |
1,269.0 |
|
|
|
|
|
|
Interest Income |
6.3 |
7.5 |
4.1 |
|
Gains on Foreign Currency Transactions |
1.5 |
1.2 |
1.6 |
|
Gains on Foreign Currency Translation |
3.1 |
1.4 |
0.2 |
|
Dividend Income |
0.0 |
0.0 |
- |
|
Interest Expenses |
-17.0 |
-14.3 |
-10.2 |
|
Losses on Foreign Currency Transactions |
-0.7 |
-0.8 |
-1.5 |
|
Losses on Foreign Currency Translation |
-3.2 |
-0.6 |
0.0 |
|
Other Non-Operating Income/Loss |
-0.4 |
-1.0 |
-3.2 |
|
Loss under Equity Method |
-0.7 |
- |
- |
|
Net Income Before Taxes |
54.1 |
48.3 |
24.4 |
|
|
|
|
|
|
Provision for Income Taxes |
11.0 |
12.3 |
2.6 |
|
Net Income After Taxes |
43.2 |
36.0 |
21.8 |
|
|
|
|
|
|
Minority Interest |
0.2 |
0.6 |
-0.5 |
|
Net Income Before Extra. Items |
43.4 |
36.7 |
21.3 |
|
Gain/Loss on Discontinued Operations |
-1.4 |
-1.4 |
-3.4 |
|
Net Income |
42.0 |
35.3 |
17.9 |
|
|
|
|
|
|
Preferred Dividend |
-1.0 |
-0.9 |
-0.8 |
|
Participated Preferred Dividend |
-3.4 |
-2.7 |
-1.0 |
|
Income Available to Com Excl ExtraOrd |
39.0 |
33.0 |
19.4 |
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
37.6 |
31.6 |
16.0 |
|
|
|
|
|
|
Basic Weighted Average Shares |
8.9 |
8.9 |
9.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
4.36 |
3.69 |
2.17 |
|
Basic EPS Including ExtraOrdinary Items |
4.21 |
3.53 |
1.79 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
37.6 |
31.6 |
16.0 |
|
Diluted Weighted Average Shares |
8.9 |
8.9 |
9.0 |
|
Diluted EPS Excluding ExtraOrd Items |
4.36 |
3.69 |
2.17 |
|
Diluted EPS Including ExtraOrd Items |
4.21 |
3.53 |
1.79 |
|
DPS-Common Stock |
0.90 |
0.86 |
0.78 |
|
Gross Dividends - Common Stock |
8.1 |
7.7 |
7.0 |
|
Normalized Income Before Taxes |
51.7 |
46.5 |
32.8 |
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
10.5 |
11.8 |
3.5 |
|
Normalized Income After Taxes |
41.2 |
34.6 |
29.2 |
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
37.1 |
31.6 |
26.8 |
|
|
|
|
|
|
Basic Normalized EPS |
4.14 |
3.53 |
3.00 |
|
Diluted Normalized EPS |
4.14 |
3.53 |
3.00 |
|
Interest Expense, Supplemental |
17.0 |
14.3 |
10.2 |
|
Interest Capitalized, Supplemental |
-0.1 |
-0.1 |
-0.4 |
|
Advertising Expense, Supplemental |
20.3 |
21.7 |
16.3 |
|
R&D Expense, Supplemental |
8.5 |
8.2 |
4.9 |
|
Depreciation, Supplemental |
62.0 |
55.5 |
37.8 |
|
Amort of Intangibles, Supplemental |
2.6 |
2.2 |
1.4 |
|
Interest Capitalized, Supplemental |
-0.1 |
-0.1 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
Cash and CashEquivalents |
285.3 |
171.7 |
190.5 |
|
Current Financial Deposits |
64.8 |
53.0 |
- |
|
Current Financial Assets |
- |
0.0 |
- |
|
Trade Receivable |
390.6 |
331.1 |
358.9 |
|
Allowance for Doubtful Accounts for Trad |
-10.5 |
-11.4 |
-21.5 |
|
Account Receivables |
36.2 |
30.2 |
43.1 |
|
Current Loans |
0.1 |
- |
- |
|
Allowance for Doubtful Accounts for Acco |
-7.9 |
-10.2 |
- |
|
Accrued Income |
1.5 |
1.7 |
- |
|
Prepaid Expenses Total |
3.3 |
2.6 |
2.5 |
|
Advance Payments |
3.7 |
5.0 |
2.0 |
|
Prepaid Income Taxes |
1.6 |
0.8 |
2.8 |
|
Prepaid VAT |
10.1 |
7.2 |
3.8 |
|
Current Financial Assets |
- |
- |
0.0 |
|
Other Current Assets |
0.8 |
1.0 |
0.4 |
|
Merchandises |
57.7 |
48.5 |
42.1 |
|
Finished Goods |
53.9 |
32.6 |
23.4 |
|
Goods in Transit |
16.3 |
14.9 |
9.6 |
|
Raw Materials |
32.4 |
19.9 |
13.1 |
|
Semi-finished Goods |
14.1 |
11.8 |
9.3 |
|
Supplies |
5.6 |
2.6 |
2.3 |
|
Total Current Assets |
959.3 |
713.1 |
682.4 |
|
|
|
|
|
|
LT Financial Assets |
1.0 |
1.6 |
1.4 |
|
Non-Current Financial Deposits |
0.0 |
0.0 |
- |
|
LT Loans and Receivables |
- |
- |
12.1 |
|
Non-Current Loans |
0.5 |
0.4 |
- |
|
Investment in Affiliates |
5.2 |
- |
- |
|
Other Investments |
0.5 |
0.4 |
0.6 |
|
Non-Current Guarantee Deposits |
15.5 |
15.1 |
- |
|
Long-term Prepaid Expenses |
13.8 |
3.0 |
3.1 |
|
LT Trade Receivable |
1.6 |
3.3 |
3.0 |
|
Land |
48.7 |
64.5 |
62.2 |
|
Buildings |
178.4 |
175.3 |
156.2 |
|
Depreciation-Buidings |
-41.7 |
-44.9 |
-40.4 |
|
Reduction-Buidings |
-5.3 |
-5.4 |
-5.3 |
|
Structures |
26.2 |
26.7 |
24.0 |
|
Depreciaiton-Structures |
-14.1 |
-14.8 |
-13.6 |
|
Reduction-Structures |
-1.4 |
-1.4 |
-1.3 |
|
Tools & Equipments |
198.5 |
200.7 |
187.9 |
|
Tools & Equipments-Depreciation |
-132.1 |
-131.3 |
-115.3 |
|
Reduction-Tools |
-0.1 |
-1.0 |
-1.9 |
|
Machinery |
555.9 |
459.5 |
445.5 |
|
Depreciation-Equipment |
-304.0 |
-280.9 |
-281.0 |
|
Reduction-Equipment |
-1.6 |
-1.6 |
-8.1 |
|
Vehicles & Transportation Equipment |
6.1 |
4.5 |
4.0 |
|
Depreciation-Vehicles |
-3.6 |
-3.2 |
-2.7 |
|
Fixtures |
57.1 |
49.2 |
43.4 |
|
Fixtures-Depreciation |
-35.7 |
-34.2 |
-31.6 |
|
Reduction-Office Equipment |
0.0 |
0.0 |
0.0 |
|
Construction in Progress |
60.0 |
91.8 |
34.0 |
|
Machines in Transit |
37.9 |
6.7 |
4.5 |
|
Industrial Property Rights |
6.6 |
5.0 |
4.0 |
|
Development Cost |
6.8 |
4.8 |
2.6 |
|
Other Intangible Assets |
12.4 |
12.5 |
10.7 |
|
Deferred Income Taxes Assets Non-current |
15.0 |
18.4 |
22.2 |
|
Non-Current Assets Held for Sale |
18.7 |
1.0 |
1.2 |
|
Total Assets |
1,686.2 |
1,339.1 |
1,204.0 |
|
|
|
|
|
|
Trade Payable |
186.3 |
174.9 |
166.1 |
|
Other Payables |
130.5 |
120.8 |
119.9 |
|
Accrued Expenses |
21.2 |
17.8 |
15.9 |
|
Income Taxes Payable |
2.3 |
1.4 |
- |
|
Advance for Customers |
10.2 |
3.9 |
4.6 |
|
Unearned Income |
8.6 |
0.6 |
0.4 |
|
Withholdings |
9.7 |
11.8 |
6.1 |
|
Short-term Borrowings |
273.5 |
190.6 |
121.9 |
|
Current Portion of Long-term Borrowings |
0.1 |
0.1 |
- |
|
Current Portion of Bonds |
130.2 |
- |
- |
|
Liabilities Reserve |
2.3 |
3.3 |
2.6 |
|
Other Current Liabilities |
0.1 |
0.1 |
- |
|
Total Current Liabilities |
774.9 |
525.3 |
437.7 |
|
|
|
|
|
|
Bonds |
224.9 |
184.7 |
- |
|
LT Borrowings |
46.5 |
1.2 |
181.1 |
|
Total Long Term Debt |
271.4 |
185.9 |
181.1 |
|
|
|
|
|
|
LT Other Payables |
0.1 |
1.6 |
1.5 |
|
LT Other Liabilities |
- |
- |
0.1 |
|
Deferred Income Taxes Liabilities Non-cu |
0.1 |
0.0 |
- |
|
Provisions for Retirement and Severance |
12.4 |
13.0 |
10.1 |
|
Minority Interest |
0.7 |
6.7 |
2.6 |
|
Other Non-Current Liabilities |
0.4 |
- |
- |
|
Total Liabilities |
1,059.9 |
732.6 |
633.1 |
|
|
|
|
|
|
Common Stock |
38.9 |
39.5 |
38.5 |
|
Preferred Stock |
4.5 |
4.5 |
4.4 |
|
Capital Surplus |
536.6 |
544.7 |
530.9 |
|
Retained Earnings Carried Forward |
47.6 |
37.3 |
18.1 |
|
Legal Reserves |
1.7 |
0.9 |
- |
|
Appropriated Retained Earnings for Volun |
28.9 |
9.1 |
- |
|
Other Capital Adjustment |
-7.1 |
-7.2 |
-7.0 |
|
Actuarial Gains & Losses |
-15.4 |
-8.3 |
- |
|
Gain/Loss on Valuation of Securities Ava |
-0.3 |
0.1 |
- |
|
Accumulated Other Comprehensive Income |
- |
- |
-13.9 |
|
Overseas Business Translation Debit |
-9.2 |
-14.2 |
- |
|
Total Equity |
626.3 |
606.5 |
570.9 |
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,686.2 |
1,339.1 |
1,204.0 |
|
|
|
|
|
|
S/O-Common Stock |
8.9 |
8.9 |
8.9 |
|
Total Common Shares Outstanding |
8.9 |
8.9 |
8.9 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
|
S/O-Preferred Stock |
1.0 |
1.0 |
1.0 |
|
Total Preferred Shares Outstanding |
1.0 |
1.0 |
1.0 |
|
T/S-Preferred Stock |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
18.8 |
4.5 |
5.1 |
|
Full-Tme Employees |
2,696 |
2,682 |
2,731 |
|
Number of Shareholders |
- |
21,251 |
17,815 |
|
LT Debt Due in 1 Year |
- |
0.1 |
26.0 |
|
LT Debt Due in 2 Year |
- |
- |
0.1 |
|
LT Debt Due in 3 Year |
- |
- |
128.9 |
|
LT Debt Due in 4 Year |
- |
- |
51.6 |
|
LT Debt -Remaining Maturities |
- |
- |
1.0 |
|
Total Long Term Debt, Supplemental |
- |
0.1 |
207.6 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
Net Income |
54.1 |
48.3 |
20.0 |
|
Depreciation |
62.0 |
55.5 |
37.8 |
|
Amortization of Intangibles |
2.6 |
2.2 |
1.4 |
|
Expense of Allowance for Doubtful Accoun |
2.9 |
- |
1.5 |
|
Retirement and Severance Benefits |
10.8 |
6.7 |
7.2 |
|
Gain/Loss on Discontinued Operations |
-1.8 |
-1.8 |
- |
|
Loss-Reduction of Tangible Assets |
- |
- |
7.7 |
|
Gain/Loss on Foreign Currency Translatio |
1.5 |
-0.8 |
0.7 |
|
Gain/Loss on Sale of Property, Plant and |
-2.6 |
-1.9 |
9.6 |
|
Gain/Loss on Sale of Intangible Assets |
0.0 |
0.1 |
0.4 |
|
Gain on Disposal of Securities Available |
0.0 |
- |
- |
|
Gain on Disposal of Investment in Subsid |
-0.7 |
- |
- |
|
Interest Income |
-6.3 |
-7.5 |
-4.1 |
|
Interest Expenses |
18.3 |
14.4 |
10.6 |
|
Recovery-Doubtful Credit Reserve |
-2.2 |
-2.4 |
- |
|
Others |
1.8 |
-2.5 |
2.9 |
|
Trade Receivables |
-69.5 |
23.4 |
-166.2 |
|
Other Receivables |
-7.2 |
-1.2 |
-15.6 |
|
Other Current Assets |
1.1 |
-3.0 |
-4.0 |
|
Cumulative Assets outside Company |
-5.2 |
4.9 |
-5.4 |
|
Increase-Other Non-Current Assets, Opera |
-10.8 |
0.1 |
-2.0 |
|
Inventories |
-53.8 |
-29.1 |
17.9 |
|
Trade Payables |
15.1 |
6.5 |
106.8 |
|
Other Payables & Liabilities |
15.3 |
-1.6 |
33.1 |
|
LT Other Payables&Liabilities |
0.1 |
-0.1 |
1.4 |
|
Other Current Liabilities |
9.7 |
1.7 |
3.1 |
|
Payment-Retirement Allowance |
-16.3 |
-18.1 |
-8.0 |
|
Provision-Retirement Allowance |
0.3 |
0.7 |
0.5 |
|
Cash-Interest Received |
6.4 |
6.4 |
4.4 |
|
Cash-Interest Paid |
-15.5 |
-11.9 |
-7.6 |
|
Cash-Tax Paid |
-4.8 |
-1.1 |
-7.0 |
|
Cash-Dividend Income |
0.0 |
0.0 |
- |
|
Cash from Operating Activities |
5.5 |
87.7 |
47.2 |
|
|
|
|
|
|
Decrease-Financial Deposit |
66.1 |
43.9 |
31.3 |
|
Decrease in Short-term Loans |
0.1 |
10.7 |
0.0 |
|
Disposal of Investment in Affiliates |
0.6 |
- |
- |
|
Proceeds from Sale of ST Financial Asset |
0.0 |
0.0 |
- |
|
Disposal of Non-Current Financial Instru |
0.1 |
- |
0.0 |
|
Decrease-LT Loans and Receivables |
6.2 |
1.4 |
2.6 |
|
Decrease-Assets Held for Sale |
13.1 |
0.3 |
- |
|
Decrease-Other Non-Current Assets |
0.2 |
0.3 |
0.2 |
|
Proceeds from Sale of Property Plant and |
22.0 |
16.1 |
8.9 |
|
Decrease-Intangible Assets |
0.3 |
0.1 |
0.0 |
|
Increase-Financial Deposit |
-81.3 |
-75.2 |
-50.1 |
|
Increase in Short-term Loans |
-0.1 |
-7.0 |
-3.4 |
|
Increase-LT Loans and Receivables |
-7.2 |
-4.5 |
-2.6 |
|
Purchase of Short-term Financial Assets |
- |
- |
0.0 |
|
Purchase of Long-term Financial Assets |
- |
0.0 |
- |
|
Purchase of Property, Plant and Equipmen |
-201.8 |
-161.0 |
-63.7 |
|
Purchase of Intangible Assets |
-3.2 |
-1.6 |
-1.2 |
|
Increase-Other Non-Current Assets |
-0.1 |
-0.1 |
0.0 |
|
Cash Flow from Disposal of Investment i |
-0.5 |
- |
- |
|
Cash from Investing Activities |
-185.3 |
-176.6 |
-77.9 |
|
|
|
|
|
|
Increase-Borrowings |
790.9 |
356.3 |
57.8 |
|
Increase-Minority Interest |
- |
4.6 |
2.3 |
|
Purchase of Treasury Stock |
- |
- |
-1.6 |
|
Redemption-Borrowings |
-480.6 |
-287.2 |
-31.4 |
|
Payments in Dividends |
-9.1 |
-8.7 |
- |
|
Decrease-Minority Interest |
- |
- |
-4.5 |
|
Expense for Stock Issuance |
- |
- |
0.0 |
|
Cash from Financing Activities |
301.2 |
65.1 |
22.6 |
|
|
|
|
|
|
Foreign Exchange Effects |
-0.7 |
0.5 |
-2.2 |
|
Net Change in Cash |
120.7 |
-23.3 |
-10.2 |
|
|
|
|
|
|
Cash Interest Paid |
15.5 |
11.9 |
7.6 |
|
Cash Taxes Paid |
4.8 |
1.1 |
7.0 |
|
Cash and Cash Equivalent at Beginning |
175.9 |
191.8 |
184.0 |
|
Cash and Cash Equivalent at End |
296.6 |
168.6 |
173.8 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual
Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
UK Pound |
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.