|
Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CJ FRESHWAY CORP |
|
|
|
|
Formerly Known As : |
CJ FOOD SYSTEM CO LTD |
|
|
|
|
Registered Office : |
156-2, Hagal-Dong, Giheung-Gu Yongin, 446930 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.10.1988 |
|
|
|
|
Legal Form : |
Public Subsidiary |
|
|
|
|
Line of Business : |
Wholesale of other food including fish, crustaceans and molluscs |
|
|
|
|
No. of Employees : |
1,730 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES
:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible
growth and global integration to become a high-tech industrialized economy. In
the 1960s, GDP per capita was comparable with levels in the poorer countries of
Africa and Asia. In 2004, South Korea joined the trillion dollar club of world
economies, and 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.
Source : CIA
CJ Freshway Corp
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Business
Description
|
CJ Freshway Corporation is a Korea-based
company engaged in the food distribution business and catering business. The
Company's food distribution business primarily distributes processed food,
agricultural products, seafood, livestock products and kitchen utensils to
food distribution agencies, food service providers, franchised restaurants
and general restaurants. Its catering business provides food services
focusing on meal service for organizations, which refer to the management of
in-house cafeterias in office buildings, companies, factories and hospital.
It also provides design, consulting and engineering of restaurants, as well
as cooking education and restaurant operation consulting services. On April
18, the Company sold its entire shares of CJ N CITY CO., Ltd., which is
mainly engaged in the real estate leasing and fine dining businesses. For the
three months ended 31 March 2013, CJ Freshway Corp
revenues increased 9% to W482.82B. Net income decreased 92% to W159.7M.
Revenues reflect Food Material Services segment increase of 15% to W156.94B,
Direct Transactions segment increase of 16% to W86.13B, Other segment
increase of 35% to W40.94B. Net income was offset by Food Material Services
segment income decrease of 66% to W808.7M. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
5138 - Wholesale of other food including fish,
crustaceans and molluscs |
|
NAICS 2002: |
42449 - Other Grocery and Related Products Merchant
Wholesalers |
|
UK SIC 2003: |
5138 - Wholesale of other food including fish,
crustaceans and molluscs |
|
UK SIC 2007: |
4638 - Wholesale of other food, including fish,
crustaceans and molluscs |
|
US SIC 1987: |
5149 - Groceries and Related Products, Not Elsewhere
Classified |
Key Executives
|
Significant
Developments
|
Financial
Summary
|
Stock Snapshot
|
1 - Profit & Loss
Item Exchange Rate: USD 1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1066.4
|
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CJ Freshway Corp |
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Seoul |
Korea, Republic of |
Food Processing |
15,644.0 |
54 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Restaurants |
713.1 |
10,070 |
|
|
Affiliates |
Seoul |
Korea, Republic of |
Food Processing |
8,765.6 |
6,003 |
|
|
Subsidiary |
Ansong |
Korea, Republic of |
Food Processing |
|
323 |
|
|
Subsidiary |
Shenyang, Liaoning |
China |
Food Processing |
|
50 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Business Services |
|
32 |
|
|
Subsidiary |
Jakarta, Jakarta |
Indonesia |
Chemical Manufacturing |
1,550.0 |
|
|
|
Subsidiary |
Wan Chai, Hong Kong |
Hong Kong |
Chemical Manufacturing |
664.9 |
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Food Processing |
72.3 |
|
|
|
Subsidiary |
San Rafael, Bulacan |
Philippines |
Food Processing |
|
|
|
|
Subsidiary |
Wonju, Kangwon-Do |
Korea, Republic of |
Food Processing |
40.3 |
|
|
|
Subsidiary |
Namwon, Chollabuk-Do |
Korea, Republic of |
Food Processing |
39.6 |
|
|
|
Subsidiary |
Beijing, Beijing |
China |
Food Processing |
9.1 |
|
|
|
Subsidiary |
Beijing |
China |
Food Processing |
|
3,000 |
|
|
Subsidiary |
Yongin |
Korea, Republic of |
Food Processing |
1,661.9 |
1,730 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Food Processing |
|
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Chemical Manufacturing |
|
700 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Retail (Grocery) |
191.3 |
439 |
|
|
Subsidiary |
Ho Chi Minh City, LongAn |
Viet Nam |
Food Processing |
|
270 |
|
|
Subsidiary |
Anyang, Kyonggi-Do |
Korea, Republic of |
Construction Services |
174.5 |
210 |
|
|
Subsidiary |
Bali, Jawa Timur |
Indonesia |
Food Processing |
|
130 |
|
|
Subsidiary |
Tokyo |
Japan |
Communications Equipment |
|
100 |
|
|
Subsidiary |
Los Angeles, CA |
United States |
Business Services |
1.4 |
50 |
|
|
Subsidiary |
Los Angeles, CA |
United States |
Food Processing |
|
50 |
|
|
Subsidiary |
Los Angeles, CA |
United States |
Business Services |
2.4 |
20 |
|
|
Subsidiary |
Sunnyvale, CA |
United States |
Business Services |
|
|
|
|
Subsidiary |
Chicago, IL |
United States |
Food Processing |
|
|
|
|
Subsidiary |
Wanchai |
Hong Kong |
Chemical Manufacturing |
|
50 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
|
25 |
|
|
Subsidiary |
Schwalbach Am Taunus, Hessen |
Germany |
Chemical Manufacturing |
333.7 |
21 |
|
|
Subsidiary |
Songnam, Kyonggi-Do |
Korea, Republic of |
Computer Networks |
170.5 |
|
|
|
Subsidiary |
Songnam, Kyonggi-Do |
Korea, Republic of |
Broadcasting and Cable Television |
24.9 |
185 |
|
|
Subsidiary |
Pusan, Pusan |
Korea, Republic of |
Jewelry and Silverware |
|
60 |
|
|
Subsidiary |
San Rafael |
Philippines |
Food Processing |
45.6 |
|
|
|
Subsidiary |
Phnom Penh |
Cambodia |
Food Processing |
|
|
|
|
Subsidiary |
Makati, Bulacan |
Philippines |
Food Processing |
|
|
|
|
Subsidiary |
Beijing |
China |
Food Processing |
|
|
|
|
Affiliates |
Seoul |
Korea, Republic of |
Miscellaneous Transportation |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Business Services |
96.1 |
100 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Transportation |
12.0 |
300 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Transportation |
|
10 |
|
|
Subsidiary |
Jakarta, Jakarta |
Indonesia |
Miscellaneous Transportation |
3.2 |
300 |
|
|
Subsidiary |
Pelabuhan Klang, Selangor |
Malaysia |
Commercial Banks |
60.6 |
200 |
|
|
Subsidiary |
Singapore |
Singapore |
Airlines |
14.3 |
25 |
|
|
Subsidiary |
Tsuen Wan, New Territories |
Hong Kong |
Miscellaneous Transportation |
8.6 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Business Services |
|
|
|
|
Cj Gls Philippines
Inc. |
Subsidiary |
|
|
|
|
|
|
Subsidiary |
Ermita, Manila |
Philippines |
Miscellaneous Transportation |
|
280 |
|
|
Subsidiary |
Commerce, CA |
United States |
Miscellaneous Transportation |
1.1 |
21 |
|
|
Subsidiary |
Santa Rosa Jáuregui, Queretaro |
Mexico |
Miscellaneous Transportation |
17.2 |
171 |
|
|
Subsidiary |
Qingdao, Shangdong |
China |
Business Services |
|
|
Executives Report
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
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 |
Restated Normal |
Updated 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 |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,661.9 |
1,446.5 |
882.6 |
610.8 |
613.7 |
|
Revenue |
1,661.9 |
1,446.5 |
882.6 |
610.8 |
613.7 |
|
Total Revenue |
1,661.9 |
1,446.5 |
882.6 |
610.8 |
613.7 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,536.8 |
1,328.1 |
800.3 |
520.6 |
526.4 |
|
Cost of Revenue, Total |
1,536.8 |
1,328.1 |
800.3 |
520.6 |
526.4 |
|
Gross Profit |
125.2 |
118.4 |
82.3 |
90.2 |
87.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
61.5 |
55.6 |
42.8 |
44.4 |
41.8 |
|
Labor & Related Expense |
35.6 |
36.3 |
28.1 |
31.9 |
32.2 |
|
Advertising Expense |
- |
- |
- |
0.4 |
0.8 |
|
Total Selling/General/Administrative Expenses |
97.1 |
91.9 |
70.9 |
76.7 |
74.9 |
|
Research & Development |
- |
- |
- |
0.5 |
0.7 |
|
Depreciation |
2.5 |
2.0 |
2.0 |
4.0 |
3.8 |
|
Amortization of Intangibles |
0.7 |
0.6 |
0.5 |
1.4 |
2.3 |
|
Depreciation/Amortization |
3.2 |
2.6 |
2.5 |
5.5 |
6.2 |
|
Investment Income -
Operating |
1.2 |
0.9 |
0.2 |
- |
- |
|
Interest/Investment Income - Operating |
1.2 |
0.9 |
0.2 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
1.2 |
0.9 |
0.2 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.2 |
- |
- |
|
Other Unusual Expense (Income) |
- |
- |
0.1 |
- |
- |
|
Unusual Expense (Income) |
- |
- |
0.2 |
- |
- |
|
Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Other, Net |
- |
- |
-0.7 |
- |
- |
|
Other Operating Expenses, Total |
- |
- |
-0.7 |
- |
- |
|
Total Operating Expense |
1,638.2 |
1,423.5 |
873.5 |
603.2 |
608.2 |
|
|
|
|
|
|
|
|
Operating Income |
23.7 |
23.0 |
9.1 |
7.6 |
5.5 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-6.3 |
-2.4 |
-1.8 |
-0.6 |
-1.0 |
|
Interest Expense, Net Non-Operating |
-6.3 |
-2.4 |
-1.8 |
-0.6 |
-1.0 |
|
Interest Income -
Non-Operating |
0.7 |
1.5 |
1.3 |
1.4 |
2.6 |
|
Investment Income -
Non-Operating |
-2.4 |
0.1 |
0.2 |
-2.1 |
-1.8 |
|
Interest/Investment Income - Non-Operating |
-1.7 |
1.7 |
1.5 |
-0.7 |
0.8 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-8.0 |
-0.8 |
-0.2 |
-1.3 |
-0.2 |
|
Gain (Loss) on Sale of Assets |
-0.1 |
0.3 |
- |
-0.1 |
-0.9 |
|
Other Non-Operating Income (Expense) |
-2.5 |
-2.1 |
-0.1 |
1.1 |
0.9 |
|
Other, Net |
-2.5 |
-2.1 |
-0.1 |
1.1 |
0.9 |
|
Income Before Tax |
13.0 |
20.4 |
8.7 |
7.3 |
5.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
2.7 |
5.0 |
0.4 |
1.2 |
3.1 |
|
Income After Tax |
10.4 |
15.5 |
8.4 |
6.1 |
2.3 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
- |
0.0 |
- |
- |
|
Net Income Before Extraord Items |
10.4 |
15.5 |
8.4 |
6.1 |
2.3 |
|
Discontinued Operations |
- |
- |
- |
- |
0.2 |
|
Extraord Items |
- |
- |
- |
- |
1.1 |
|
Total Extraord Items |
- |
- |
- |
- |
1.2 |
|
Net Income |
10.4 |
15.5 |
8.4 |
6.1 |
3.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord
Items |
10.4 |
15.5 |
8.4 |
6.1 |
2.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
10.4 |
15.5 |
8.4 |
6.1 |
3.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
10.3 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Basic EPS Excl Extraord Items |
1.01 |
1.55 |
0.84 |
0.61 |
0.23 |
|
Basic/Primary EPS Incl Extraord
Items |
1.01 |
1.55 |
0.84 |
0.61 |
0.35 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
10.4 |
15.5 |
8.4 |
6.1 |
3.5 |
|
Diluted Weighted Average Shares |
10.3 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Diluted EPS Excl Extraord Items |
1.00 |
1.54 |
0.84 |
0.61 |
0.23 |
|
Diluted EPS Incl Extraord
Items |
1.00 |
1.54 |
0.84 |
0.61 |
0.35 |
|
Dividends per Share - Common Stock Primary Issue |
0.18 |
0.18 |
0.09 |
0.00 |
0.09 |
|
Gross Dividends - Common Stock |
1.9 |
1.8 |
0.9 |
0.0 |
0.9 |
|
Interest Expense, Supplemental |
6.3 |
2.4 |
1.8 |
0.6 |
1.0 |
|
Interest Capitalized, Supplemental |
-0.1 |
-1.0 |
-0.2 |
-0.1 |
- |
|
Depreciation, Supplemental |
12.1 |
10.3 |
9.0 |
7.5 |
7.0 |
|
Total Special Items |
0.1 |
-0.3 |
0.2 |
0.1 |
0.9 |
|
Normalized Income Before Tax |
13.1 |
20.1 |
9.0 |
7.5 |
6.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
-0.1 |
0.0 |
0.0 |
0.5 |
|
Inc Tax Ex Impact of Sp Items |
2.7 |
4.9 |
0.4 |
1.3 |
3.6 |
|
Normalized Income After Tax |
10.4 |
15.2 |
8.6 |
6.2 |
2.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10.4 |
15.2 |
8.6 |
6.2 |
2.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.01 |
1.52 |
0.86 |
0.62 |
0.27 |
|
Diluted Normalized EPS |
1.01 |
1.52 |
0.86 |
0.62 |
0.27 |
|
Amort of Intangibles, Supplemental |
0.7 |
0.6 |
0.5 |
1.5 |
2.3 |
|
Rental Expenses |
3.6 |
4.3 |
2.8 |
6.8 |
3.9 |
|
Advertising Expense, Supplemental |
- |
- |
- |
0.4 |
0.8 |
|
Research & Development Exp, Supplemental |
- |
- |
- |
0.5 |
0.7 |
|
Normalized EBIT |
24.9 |
23.9 |
9.5 |
7.6 |
5.5 |
|
Normalized EBITDA |
37.7 |
34.8 |
19.0 |
16.6 |
14.9 |
|
|
|
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 |
Reclassified
Normal |
Restated Normal |
Updated 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 |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
10.7 |
7.6 |
8.3 |
32.0 |
23.8 |
|
Short Term Investments |
0.9 |
0.6 |
0.0 |
7.5 |
15.9 |
|
Cash and Short Term Investments |
11.5 |
8.2 |
8.3 |
39.4 |
39.7 |
|
Accounts Receivable -
Trade, Gross |
160.3 |
120.1 |
113.2 |
61.2 |
45.1 |
|
Provision for Doubtful
Accounts |
-4.2 |
-3.3 |
-2.9 |
-3.2 |
-2.0 |
|
Trade Accounts Receivable - Net |
156.2 |
116.9 |
110.3 |
58.2 |
43.2 |
|
Other Receivables |
11.1 |
7.0 |
6.5 |
6.1 |
5.6 |
|
Total Receivables, Net |
167.3 |
123.9 |
116.8 |
64.3 |
48.8 |
|
Inventories - Finished Goods |
133.9 |
80.8 |
48.8 |
25.4 |
17.7 |
|
Inventories - Raw Materials |
1.6 |
0.5 |
0.5 |
0.3 |
0.4 |
|
Inventories - Other |
1.0 |
4.5 |
2.0 |
0.3 |
0.2 |
|
Total Inventory |
136.5 |
85.9 |
51.3 |
26.1 |
18.2 |
|
Prepaid Expenses |
2.9 |
1.4 |
1.7 |
1.5 |
1.5 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
4.3 |
2.7 |
|
Other Current Assets |
13.4 |
4.8 |
5.4 |
0.1 |
0.0 |
|
Other Current Assets, Total |
13.4 |
4.8 |
5.4 |
4.4 |
2.7 |
|
Total Current Assets |
331.7 |
224.2 |
183.5 |
135.6 |
111.0 |
|
|
|
|
|
|
|
|
Buildings |
30.0 |
27.8 |
21.1 |
11.7 |
8.4 |
|
Land/Improvements |
13.3 |
3.0 |
- |
9.4 |
5.2 |
|
Machinery/Equipment |
88.7 |
70.4 |
54.3 |
46.2 |
45.3 |
|
Construction in
Progress |
8.2 |
5.2 |
0.9 |
16.5 |
- |
|
Other
Property/Plant/Equipment |
4.3 |
4.0 |
4.1 |
4.0 |
3.7 |
|
Property/Plant/Equipment - Gross |
144.5 |
110.5 |
80.4 |
87.8 |
62.6 |
|
Accumulated Depreciation |
-58.3 |
-43.8 |
-32.9 |
-30.3 |
-27.6 |
|
Property/Plant/Equipment - Net |
86.1 |
66.7 |
47.6 |
57.5 |
35.0 |
|
Goodwill, Net |
2.7 |
- |
- |
- |
- |
|
Intangibles, Net |
6.1 |
5.6 |
5.2 |
0.6 |
1.9 |
|
LT Investment - Affiliate Companies |
11.6 |
5.4 |
1.3 |
- |
- |
|
LT Investments - Other |
158.6 |
49.9 |
25.0 |
2.0 |
0.6 |
|
Long Term Investments |
170.2 |
55.3 |
26.3 |
2.0 |
0.6 |
|
Deferred Income Tax - Long Term Asset |
0.8 |
2.0 |
5.2 |
0.8 |
3.3 |
|
Discontinued Operations - Long Term Asset |
- |
4.2 |
4.3 |
- |
- |
|
Other Long Term Assets |
11.9 |
13.5 |
12.3 |
20.9 |
18.0 |
|
Other Long Term Assets, Total |
12.7 |
19.7 |
21.8 |
21.6 |
21.3 |
|
Total Assets |
609.5 |
371.5 |
284.5 |
217.3 |
169.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
205.9 |
157.2 |
110.3 |
81.2 |
64.4 |
|
Accrued Expenses |
10.4 |
7.0 |
6.2 |
3.9 |
2.3 |
|
Notes Payable/Short Term Debt |
99.3 |
12.5 |
2.2 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
18.7 |
17.4 |
- |
15.0 |
- |
|
Customer Advances |
5.3 |
4.7 |
5.8 |
4.5 |
3.6 |
|
Security Deposits |
8.7 |
7.6 |
6.0 |
5.2 |
4.9 |
|
Income Taxes Payable |
4.7 |
1.2 |
- |
- |
- |
|
Other Payables |
46.4 |
34.2 |
24.1 |
30.1 |
13.4 |
|
Other Current Liabilities |
12.8 |
3.5 |
2.7 |
1.7 |
2.4 |
|
Other Current liabilities, Total |
77.8 |
51.2 |
38.6 |
41.5 |
24.4 |
|
Total Current Liabilities |
412.1 |
245.2 |
157.3 |
141.6 |
91.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
46.7 |
26.0 |
41.3 |
- |
14.9 |
|
Total Long Term Debt |
46.7 |
26.0 |
41.3 |
0.0 |
14.9 |
|
Total Debt |
164.8 |
55.9 |
43.5 |
15.0 |
14.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.9 |
- |
- |
- |
- |
|
Deferred Income Tax |
1.9 |
- |
- |
- |
- |
|
Minority Interest |
-0.1 |
- |
- |
- |
- |
|
Pension Benefits - Underfunded |
11.6 |
6.2 |
3.9 |
4.5 |
3.9 |
|
Other Long Term Liabilities |
5.1 |
5.1 |
3.9 |
1.5 |
0.0 |
|
Other Liabilities, Total |
16.7 |
11.3 |
7.7 |
6.0 |
4.0 |
|
Total Liabilities |
477.4 |
282.6 |
206.3 |
147.6 |
110.0 |
|
|
|
|
|
|
|
|
Common Stock |
10.2 |
9.4 |
9.5 |
9.3 |
8.5 |
|
Common Stock |
10.2 |
9.4 |
9.5 |
9.3 |
8.5 |
|
Additional Paid-In Capital |
49.1 |
45.2 |
45.8 |
50.6 |
47.1 |
|
Retained Earnings (Accumulated Deficit) |
50.0 |
40.1 |
28.8 |
15.4 |
9.5 |
|
Treasury Stock - Common |
- |
-5.7 |
-5.9 |
-5.7 |
-5.3 |
|
Unrealized Gain (Loss) |
14.1 |
- |
- |
0.0 |
-0.4 |
|
Translation Adjustment |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Other Equity |
9.0 |
0.0 |
0.0 |
0.2 |
0.2 |
|
Other Equity, Total |
8.8 |
0.0 |
0.0 |
0.2 |
0.2 |
|
Total Equity |
132.1 |
88.9 |
78.2 |
69.7 |
59.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’
Equity |
609.5 |
371.5 |
284.5 |
217.3 |
169.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
10.8 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Total Common Shares Outstanding |
10.8 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.8 |
0.8 |
0.8 |
0.8 |
|
Employees |
1,497 |
1,279 |
1,163 |
1,164 |
1,230 |
|
Number of Common Shareholders |
- |
- |
1,857 |
1,897 |
2,678 |
|
Deferred Revenue - Current |
5.3 |
4.7 |
5.8 |
4.5 |
3.6 |
|
Deferred Revenue - Long Term |
0.5 |
0.7 |
0.6 |
- |
- |
|
Total Long Term Debt, Supplemental |
70.5 |
45.6 |
29.4 |
15.0 |
- |
|
Long Term Debt Maturing within 1 Year |
21.2 |
19.0 |
4.2 |
15.0 |
- |
|
Long Term Debt Maturing in Year 2 |
2.0 |
26.6 |
25.2 |
- |
- |
|
Long Term Debt Maturing in Year 3 |
15.8 |
- |
- |
- |
- |
|
Long Term Debt Maturing in Year 4 |
15.8 |
- |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
15.8 |
- |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
17.8 |
26.6 |
25.2 |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
31.6 |
- |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
|
|
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 |
Reclassified
Normal |
Restated Normal |
Updated 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 |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
13.0 |
20.4 |
8.4 |
6.1 |
3.5 |
|
Depreciation |
12.1 |
10.3 |
9.0 |
7.5 |
7.0 |
|
Depreciation/Depletion |
12.1 |
10.3 |
9.0 |
7.5 |
7.0 |
|
Amortization of Intangibles |
0.7 |
0.6 |
0.5 |
1.5 |
2.3 |
|
Amortization |
0.7 |
0.6 |
0.5 |
1.5 |
2.3 |
|
Deferred Taxes |
- |
- |
- |
1.2 |
3.1 |
|
Unusual Items |
2.1 |
-0.1 |
- |
0.5 |
1.8 |
|
Equity in Net Earnings (Loss) |
0.5 |
-0.3 |
- |
1.7 |
0.7 |
|
Other Non-Cash Items |
11.6 |
3.9 |
5.1 |
4.4 |
4.1 |
|
Non-Cash Items |
14.2 |
3.5 |
5.1 |
6.6 |
6.6 |
|
Accounts Receivable |
-29.1 |
-9.9 |
-50.4 |
-11.2 |
2.8 |
|
Inventories |
-45.0 |
-34.1 |
-22.1 |
-5.8 |
-3.0 |
|
Prepaid Expenses |
- |
- |
- |
0.3 |
0.1 |
|
Other Assets |
3.7 |
-3.1 |
-0.4 |
0.0 |
- |
|
Accounts Payable |
26.7 |
61.0 |
19.1 |
24.3 |
2.4 |
|
Accrued Expenses |
- |
- |
- |
1.2 |
0.2 |
|
Other Liabilities |
7.7 |
3.7 |
1.6 |
-2.6 |
-1.4 |
|
Other Operating Cash Flow |
-1.5 |
0.0 |
0.0 |
- |
- |
|
Changes in Working Capital |
-37.6 |
17.5 |
-52.2 |
6.3 |
1.0 |
|
Cash from Operating Activities |
2.5 |
52.3 |
-29.1 |
29.2 |
23.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-19.6 |
-24.7 |
-18.4 |
-26.0 |
-5.3 |
|
Purchase/Acquisition of Intangibles |
-0.6 |
-0.6 |
-1.6 |
-0.2 |
-0.1 |
|
Capital Expenditures |
-20.2 |
-25.3 |
-20.0 |
-26.2 |
-5.4 |
|
Acquisition of Business |
-7.8 |
-4.1 |
-1.1 |
- |
- |
|
Sale of Fixed Assets |
0.9 |
1.8 |
0.9 |
0.5 |
3.9 |
|
Sale/Maturity of Investment |
4.1 |
13.1 |
- |
15.7 |
6.4 |
|
Investment, Net |
-0.2 |
-0.6 |
7.5 |
- |
- |
|
Purchase of Investments |
-87.0 |
-47.9 |
-7.7 |
-9.2 |
- |
|
Sale of Intangible Assets |
- |
0.0 |
0.0 |
- |
0.2 |
|
Other Investing Cash Flow |
-0.5 |
-0.5 |
-3.7 |
-3.6 |
-5.2 |
|
Other Investing Cash Flow Items, Total |
-90.6 |
-38.2 |
-4.0 |
3.3 |
5.3 |
|
Cash from Investing Activities |
-110.8 |
-63.5 |
-24.1 |
-22.9 |
-0.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-4.7 |
-2.2 |
-1.5 |
- |
-5.1 |
|
Financing Cash Flow Items |
-4.7 |
-2.2 |
-1.5 |
- |
-5.1 |
|
Cash Dividends Paid - Common |
-1.8 |
-0.9 |
- |
-0.8 |
- |
|
Total Cash Dividends Paid |
-1.8 |
-0.9 |
- |
-0.8 |
- |
|
Sale/Issuance of
Common |
16.7 |
- |
- |
- |
- |
|
Common Stock, Net |
16.7 |
- |
- |
- |
- |
|
Options Exercised |
0.2 |
0.2 |
- |
0.1 |
0.1 |
|
Issuance (Retirement) of Stock, Net |
17.0 |
0.2 |
- |
0.1 |
0.1 |
|
Short Term Debt, Net |
56.1 |
4.4 |
1.8 |
- |
- |
|
Long Term Debt Issued |
61.9 |
9.0 |
40.5 |
- |
- |
|
Long Term Debt
Reduction |
-17.7 |
- |
-12.0 |
- |
- |
|
Long Term Debt, Net |
44.2 |
9.0 |
28.5 |
- |
- |
|
Issuance (Retirement) of Debt, Net |
100.3 |
13.4 |
30.3 |
- |
- |
|
Cash from Financing Activities |
110.7 |
10.6 |
28.7 |
-0.7 |
-5.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Net Change in Cash |
2.3 |
-0.6 |
-24.5 |
5.7 |
18.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
7.8 |
8.5 |
32.6 |
23.5 |
8.7 |
|
Net Cash - Ending Balance |
10.1 |
7.9 |
8.1 |
29.2 |
27.2 |
|
Cash Interest Paid |
4.7 |
2.2 |
1.5 |
- |
- |
|
Cash Taxes Paid |
1.5 |
0.0 |
0.0 |
- |
- |
|
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 |
Restated Normal |
Updated 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 |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales Revenue |
1,661.9 |
1,446.5 |
882.6 |
610.8 |
613.7 |
|
Total Revenue |
1,661.9 |
1,446.5 |
882.6 |
610.8 |
613.7 |
|
|
|
|
|
|
|
|
Costs of Goods & Services Sold |
1,536.8 |
1,328.1 |
800.3 |
- |
- |
|
Cost of Finished Goods Sold |
- |
- |
- |
520.6 |
526.4 |
|
Salaries & Wages |
28.7 |
29.0 |
22.4 |
25.7 |
25.6 |
|
Retirement & Severance Benefits |
2.2 |
1.8 |
1.7 |
2.2 |
2.2 |
|
Employee Benefits |
4.7 |
5.5 |
4.0 |
3.9 |
4.2 |
|
Stock-Based Compensation |
- |
- |
- |
0.1 |
0.3 |
|
Utility Expense |
0.5 |
0.5 |
0.6 |
1.6 |
0.9 |
|
Supply Expense |
- |
- |
- |
0.7 |
0.5 |
|
Repair Expense |
- |
- |
- |
0.3 |
0.2 |
|
Publication Expense |
- |
- |
- |
0.2 |
0.2 |
|
Travel Expense |
4.9 |
4.1 |
3.2 |
2.9 |
3.5 |
|
Rental Expense |
3.6 |
4.3 |
2.8 |
6.8 |
3.9 |
|
Communication Expense |
- |
- |
- |
0.3 |
0.4 |
|
Vehicle Maintenance Expense |
- |
- |
- |
0.1 |
0.2 |
|
Depreciation |
2.5 |
2.0 |
2.0 |
4.0 |
3.8 |
|
Amort. of Intangibless |
0.7 |
0.6 |
0.5 |
1.4 |
2.3 |
|
Taxes & Dues |
2.4 |
1.7 |
1.4 |
1.1 |
1.4 |
|
Insurance Premiums |
1.3 |
1.2 |
1.0 |
0.8 |
0.9 |
|
Commissions |
20.9 |
18.9 |
15.4 |
14.5 |
12.6 |
|
Shipping & Handling Expense |
19.6 |
17.3 |
12.6 |
11.0 |
13.0 |
|
Sales Promotional Expense |
- |
- |
- |
0.3 |
0.4 |
|
Association Expense |
- |
- |
- |
0.3 |
0.3 |
|
Conference Expense |
1.2 |
1.1 |
0.9 |
0.7 |
0.9 |
|
Other Allow. for DA |
- |
- |
- |
0.1 |
0.0 |
|
Activity Expense |
0.4 |
0.3 |
0.4 |
0.3 |
0.6 |
|
Entertainment Expense |
0.6 |
0.5 |
0.3 |
- |
- |
|
Expense of Allow. for DA |
0.7 |
1.5 |
0.5 |
1.0 |
0.6 |
|
Research & Survey Expense |
- |
- |
- |
0.5 |
0.7 |
|
Education & Training Expense |
1.4 |
0.9 |
0.6 |
0.5 |
0.9 |
|
Advertising Expenses |
- |
- |
- |
0.1 |
0.4 |
|
Miscellaneous Expense |
1.8 |
1.5 |
1.2 |
- |
- |
|
Other Selling & Administrative Expense |
2.2 |
1.7 |
1.8 |
0.9 |
0.7 |
|
Sales Commissions |
- |
- |
- |
0.1 |
- |
|
Adj. for Other Selling & Admin. Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Depreciation for Invmt
Property |
1.2 |
0.9 |
0.2 |
- |
- |
|
Gain on Disposal of PPT |
- |
- |
-0.1 |
- |
- |
|
Miscellaneous Income |
- |
- |
-0.6 |
- |
- |
|
Others in Other Operating Income |
- |
- |
-0.2 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Loss on Disposal of PPT |
- |
- |
0.2 |
- |
- |
|
Damage Compensation Expense |
- |
- |
0.1 |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.0 |
- |
- |
|
Others in Other Operating Expense |
- |
- |
0.1 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
- |
- |
- |
|
Total Operating Expense |
1,638.2 |
1,423.5 |
873.5 |
603.2 |
608.2 |
|
|
|
|
|
|
|
|
Interest Income |
0.7 |
1.5 |
1.3 |
1.4 |
2.6 |
|
Other Finance Income |
- |
- |
0.0 |
- |
- |
|
Rental Income |
- |
- |
- |
0.1 |
0.1 |
|
Gain on Foreign Currency Transaction |
2.6 |
0.4 |
3.5 |
0.2 |
0.3 |
|
Gain on Foreign Currency Translation |
1.6 |
0.0 |
0.0 |
1.0 |
0.0 |
|
Gain on Derivatives Transaction |
0.0 |
- |
- |
- |
- |
|
Gain on Valt of
Derivatives |
0.0 |
- |
- |
- |
4.5 |
|
Gain on Disposal of PPE |
0.0 |
0.7 |
- |
0.0 |
0.1 |
|
Miscellaneous Income |
2.4 |
1.3 |
- |
1.3 |
1.5 |
|
Others in Other Income |
0.2 |
0.0 |
- |
- |
- |
|
Dividend Income |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
G-Investment Asset Disp. |
- |
- |
- |
- |
0.0 |
|
Interest Expense |
-6.3 |
-2.4 |
-1.8 |
-0.6 |
-1.0 |
|
Loss on Disposal of Trade Receivable |
-1.2 |
-0.2 |
- |
- |
- |
|
Loss on Foreign Currency Transaction |
-0.3 |
-0.6 |
-0.4 |
-0.3 |
-0.5 |
|
Loss on Foreign Currency Translation |
-0.1 |
0.0 |
0.0 |
0.0 |
-4.5 |
|
Impmt Loss-Fincl Instrm Avail. for Sale |
-0.1 |
- |
- |
-0.3 |
-0.3 |
|
Donations Paid |
-3.4 |
-0.7 |
-0.1 |
-0.1 |
0.0 |
|
Loss on Disposal of PPE |
-0.1 |
-0.3 |
- |
-0.2 |
-1.0 |
|
Loss on Valt of
Derivatives |
-1.7 |
- |
- |
-1.0 |
- |
|
Others in Other Expense |
-0.1 |
-0.1 |
- |
- |
- |
|
Miscellaneous Loss |
-0.2 |
-0.3 |
- |
-0.1 |
-0.6 |
|
G/L-Equity Method-Jointly Control Compan |
-0.5 |
0.3 |
0.0 |
- |
- |
|
Gain-Disposal of Invmt
in Associates |
- |
0.0 |
- |
- |
- |
|
Compensation Expense |
-0.1 |
-2.1 |
- |
- |
- |
|
Loss-Disposal of Invmt
in Associates |
-0.8 |
- |
- |
- |
-0.7 |
|
Loss under Equity Method |
- |
- |
- |
-1.7 |
-0.8 |
|
Gain under Equity Method |
- |
- |
- |
- |
0.1 |
|
Loss on Derivative Transaction |
-3.1 |
- |
-2.8 |
- |
- |
|
Adj. for Finance Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Operating Expense |
0.0 |
- |
- |
- |
- |
|
Net Income Before Taxes |
13.0 |
20.4 |
8.7 |
7.3 |
5.4 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
2.7 |
5.0 |
0.4 |
1.2 |
3.1 |
|
Net Income After Taxes |
10.4 |
15.5 |
8.4 |
6.1 |
2.3 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
- |
0.0 |
- |
- |
|
Net Income Before Extra. Items |
10.4 |
15.5 |
8.4 |
6.1 |
2.3 |
|
Gain on Discontinued Operations |
- |
- |
- |
- |
0.2 |
|
Extraordinary Item |
- |
- |
- |
- |
1.1 |
|
Net Income |
10.4 |
15.5 |
8.4 |
6.1 |
3.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
10.4 |
15.5 |
8.4 |
6.1 |
2.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
10.4 |
15.5 |
8.4 |
6.1 |
3.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
10.3 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.01 |
1.55 |
0.84 |
0.61 |
0.23 |
|
Basic EPS Including ExtraOrdinary Items |
1.01 |
1.55 |
0.84 |
0.61 |
0.35 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
10.4 |
15.5 |
8.4 |
6.1 |
3.5 |
|
Diluted Weighted Average Shares |
10.3 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Diluted EPS Excluding ExtraOrd Items |
1.00 |
1.54 |
0.84 |
0.61 |
0.23 |
|
Diluted EPS Including ExtraOrd Items |
1.00 |
1.54 |
0.84 |
0.61 |
0.35 |
|
DPS-Common Stock |
0.18 |
0.18 |
0.09 |
0.00 |
0.09 |
|
Gross Dividends - Common Stock |
1.9 |
1.8 |
0.9 |
0.0 |
0.9 |
|
Normalized Income Before Taxes |
13.1 |
20.1 |
9.0 |
7.5 |
6.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.7 |
4.9 |
0.4 |
1.3 |
3.6 |
|
Normalized Income After Taxes |
10.4 |
15.2 |
8.6 |
6.2 |
2.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10.4 |
15.2 |
8.6 |
6.2 |
2.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.01 |
1.52 |
0.86 |
0.62 |
0.27 |
|
Diluted Normalized EPS |
1.01 |
1.52 |
0.86 |
0.62 |
0.27 |
|
R&D Expense, Supplemental |
- |
- |
- |
0.5 |
0.7 |
|
Advertising Expense, Supplemental |
- |
- |
- |
0.4 |
0.8 |
|
Interest Expense, Supplemental |
6.3 |
2.4 |
1.8 |
0.6 |
1.0 |
|
Amort of Intangibles, Supplemental |
0.7 |
0.6 |
0.5 |
1.5 |
2.3 |
|
Rental Expense, Supplemental |
3.6 |
4.3 |
2.8 |
6.8 |
3.9 |
|
Interest Capitalized, Supplemental |
-0.1 |
-1.0 |
-0.2 |
-0.1 |
- |
|
Depreciation, Supplemental |
12.1 |
10.3 |
9.0 |
7.5 |
7.0 |
|
|
|
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 |
Reclassified
Normal |
Restated Normal |
Updated 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 |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
10.7 |
7.6 |
8.3 |
32.0 |
23.8 |
|
Current Fincl Instrm |
0.9 |
0.6 |
- |
7.5 |
15.9 |
|
Trade Rcvb Gross |
160.3 |
120.1 |
113.2 |
61.2 |
45.1 |
|
Allow. for DA for Trade Receivable |
-4.2 |
-3.3 |
-2.9 |
-3.2 |
-2.0 |
|
Current Loans |
5.4 |
1.9 |
1.6 |
0.2 |
0.2 |
|
Account Receivable |
5.7 |
5.1 |
4.9 |
5.9 |
5.4 |
|
Accrued Income |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Receivable of Corporate Tax Refund |
- |
- |
0.0 |
- |
- |
|
Advance Payments |
1.5 |
4.8 |
2.2 |
0.3 |
0.2 |
|
Current Derivative Assets |
0.0 |
- |
- |
- |
- |
|
Prepaid Expense |
2.9 |
1.4 |
1.7 |
1.5 |
1.5 |
|
Current Dfrd Taxes |
- |
- |
- |
4.3 |
2.7 |
|
Rental Guarantee Deposits |
6.9 |
2.5 |
0.9 |
- |
- |
|
Deposits Received for Guarantees |
6.5 |
2.3 |
4.5 |
0.1 |
0.0 |
|
Merchandises |
99.2 |
66.2 |
41.4 |
22.2 |
13.1 |
|
Raw Materials |
1.6 |
0.5 |
0.5 |
0.3 |
0.4 |
|
Supplies |
0.0 |
0.0 |
- |
- |
- |
|
Goods in Transit |
34.7 |
14.6 |
7.4 |
3.2 |
4.6 |
|
Allow. for Loss on Valt
Of Inventories |
-0.5 |
-0.3 |
-0.2 |
- |
- |
|
Adj. for Trade Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Current Fincl
Instrm |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Current Assets |
- |
0.0 |
0.0 |
- |
- |
|
Adj. for Inventories |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Assets |
331.7 |
224.2 |
183.5 |
135.6 |
111.0 |
|
|
|
|
|
|
|
|
Invmt in Properties |
151.8 |
47.0 |
22.9 |
- |
- |
|
Non-Current Fincl Instrm |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Non-Current Securities Available-for-Sal |
0.4 |
0.4 |
0.5 |
0.6 |
0.6 |
|
Other Invmt Assets |
- |
1.5 |
1.7 |
- |
- |
|
Current Assets Held for Sale |
- |
4.2 |
4.3 |
- |
- |
|
Derivatives, assets |
- |
- |
- |
2.8 |
3.4 |
|
Invmt in Associates |
11.6 |
5.4 |
1.3 |
- |
- |
|
Non-Current Loans |
6.4 |
0.9 |
- |
1.4 |
- |
|
Membership Right |
- |
- |
- |
3.5 |
2.2 |
|
Non-Current Rental Guarantee Deposits |
10.3 |
13.4 |
12.2 |
14.5 |
12.0 |
|
Non-Current Prepaid Expense |
1.6 |
0.1 |
0.1 |
0.1 |
0.3 |
|
Non-Current Deferred Income Taxes Assets |
0.8 |
2.0 |
5.2 |
0.8 |
3.3 |
|
Lands |
13.3 |
3.0 |
- |
9.4 |
5.2 |
|
Buildings |
30.0 |
27.8 |
21.1 |
11.7 |
8.4 |
|
Buildings-Depreciation |
-4.6 |
-3.3 |
-0.4 |
-2.4 |
-1.9 |
|
Machineries & Equipments |
0.9 |
0.8 |
- |
0.8 |
0.7 |
|
Machineries & Equipments-Depreciation |
-0.9 |
-0.7 |
- |
-0.5 |
-0.4 |
|
Vehicles |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Vehicles-Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Tools & Equipments |
87.8 |
69.6 |
54.3 |
45.4 |
44.5 |
|
Tools & Equipments-Depreciation |
-49.8 |
-37.3 |
-30.4 |
-25.7 |
-24.2 |
|
Other Property Plant & Equipment |
4.3 |
4.0 |
4.1 |
4.0 |
3.7 |
|
Other Tangibles-Depreciation |
-3.1 |
-2.4 |
-2.1 |
-1.6 |
-1.1 |
|
Construction in Progress |
8.2 |
5.2 |
0.9 |
16.5 |
- |
|
Goodwill |
2.7 |
- |
- |
- |
- |
|
Software |
1.0 |
0.9 |
0.7 |
- |
- |
|
Industrial Property Rights |
0.0 |
0.0 |
0.0 |
- |
- |
|
Development Costs |
- |
- |
- |
0.1 |
1.1 |
|
Other Intangibless |
1.2 |
1.2 |
1.0 |
0.5 |
0.7 |
|
Other Enrollment Rights |
3.9 |
3.5 |
3.5 |
- |
- |
|
Adj. for Property, Plant & Equipment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Intangibless |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Non-Current Fincl
Instrm |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Non-Current Assets |
- |
0.0 |
0.0 |
- |
- |
|
Total Assets |
609.5 |
371.5 |
284.5 |
217.3 |
169.7 |
|
|
|
|
|
|
|
|
Other Payable |
46.4 |
34.2 |
24.1 |
30.1 |
13.4 |
|
Current Trade Payable |
205.9 |
157.2 |
110.3 |
81.2 |
64.4 |
|
Current Borrowings |
99.3 |
12.5 |
2.2 |
- |
- |
|
Accrued Expense |
10.4 |
7.0 |
6.2 |
3.9 |
2.3 |
|
Income Taxes Payable |
4.7 |
1.2 |
- |
- |
- |
|
Withheld |
11.1 |
3.5 |
2.7 |
1.7 |
2.4 |
|
Advance from Customers, Current |
5.1 |
4.7 |
5.7 |
4.5 |
3.6 |
|
Unearned Income |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Current Derivatives Liabilities |
1.8 |
- |
- |
- |
- |
|
Rental Guarantee Deposit |
1.6 |
0.7 |
5.3 |
5.2 |
4.9 |
|
Guarantee Deposit Withheld |
7.1 |
6.9 |
0.7 |
- |
- |
|
Current Portion of Long-term Bonds |
18.7 |
17.4 |
- |
- |
- |
|
Current Portion of Bonds |
- |
- |
- |
15.0 |
- |
|
Discount on Debentures Issuance, Current |
- |
- |
- |
0.0 |
- |
|
Adj. for Other Current Fincl
Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Current Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Liabilities |
412.1 |
245.2 |
157.3 |
141.6 |
91.1 |
|
|
|
|
|
|
|
|
Non-Current Borrowings |
- |
8.7 |
6.2 |
- |
14.9 |
|
Bond |
46.7 |
17.3 |
35.1 |
- |
- |
|
Total Long Term Debt |
46.7 |
26.0 |
41.3 |
- |
14.9 |
|
|
|
|
|
|
|
|
Non-Current Other Payable |
0.5 |
0.3 |
0.4 |
- |
0.0 |
|
Rental Guarantee Deposits, Non-Current L |
4.1 |
4.1 |
2.8 |
1.5 |
- |
|
Non-Current Unearned Income(1) |
0.5 |
0.7 |
0.6 |
- |
- |
|
Retire Reserve |
- |
- |
- |
4.5 |
3.9 |
|
Deferred Income Taxes, LT Liabilities |
1.9 |
- |
- |
- |
- |
|
Non-Current Fixed Benefit Liabilities |
11.6 |
6.2 |
3.9 |
- |
- |
|
Minority Interests |
-0.1 |
- |
- |
- |
- |
|
Total Liabilities |
477.4 |
282.6 |
206.3 |
147.6 |
110.0 |
|
|
|
|
|
|
|
|
Capital Stock |
10.2 |
9.4 |
9.5 |
9.3 |
8.5 |
|
Other Capital Adj. |
- |
- |
- |
- |
0.4 |
|
Retained Earnings |
50.0 |
40.1 |
28.8 |
- |
- |
|
Treasury Stock |
- |
-5.7 |
-5.9 |
-5.7 |
-5.3 |
|
Capital Change, Equity Method (Loss) |
- |
- |
- |
- |
0.0 |
|
Stock Options |
- |
- |
- |
0.2 |
0.2 |
|
Gains on Disposal of Treasury Stock |
9.0 |
0.0 |
- |
- |
- |
|
Capital Change under Equity Method |
- |
- |
- |
0.2 |
0.0 |
|
ReValt Surplus |
14.1 |
- |
- |
- |
- |
|
Additional Paid in Capital |
47.1 |
43.3 |
43.8 |
42.7 |
39.4 |
|
Other Capital Surplus |
2.0 |
1.8 |
1.8 |
7.9 |
7.3 |
|
Stock-Based Compensation |
0.1 |
0.1 |
0.2 |
- |
- |
|
Legal Reserve |
- |
- |
- |
3.1 |
2.8 |
|
Voluntary Reserve |
- |
- |
- |
0.9 |
0.8 |
|
Unappropriated
Retained Earnings |
- |
- |
- |
11.5 |
5.9 |
|
Loss-Valuation of Derivatives |
- |
- |
- |
-0.2 |
-0.4 |
|
Overseas Bus. Translation Debit/Credit |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Capital Items |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Equity |
132.1 |
88.9 |
78.2 |
69.7 |
59.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
609.5 |
371.5 |
284.5 |
217.3 |
169.7 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
10.8 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Total Common Shares Outstanding |
10.8 |
10.0 |
10.0 |
10.0 |
10.0 |
|
T/S-Common Stock |
0.0 |
0.8 |
0.8 |
0.8 |
0.8 |
|
Deferred Revenue, Current |
5.3 |
4.7 |
5.8 |
4.5 |
3.6 |
|
LT Deferred Revenue |
0.5 |
0.7 |
0.6 |
- |
- |
|
Full-Time Employees |
1,497 |
1,279 |
1,163 |
1,164 |
1,230 |
|
Number of Common Shareholders |
- |
- |
1,857 |
1,897 |
2,678 |
|
Long Term Debt Maturing within 1 Year |
21.2 |
19.0 |
4.2 |
15.0 |
- |
|
Long Term Debt Maturing in Year 2 |
2.0 |
26.6 |
25.2 |
- |
- |
|
Long Term Debt Maturing in Year 5 |
47.4 |
- |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
70.5 |
45.6 |
29.4 |
15.0 |
- |
|
|
|
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 |
Reclassified
Normal |
Restated Normal |
Updated 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 |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
13.0 |
20.4 |
8.4 |
6.1 |
3.5 |
|
Depreciation |
12.1 |
10.3 |
9.0 |
7.5 |
7.0 |
|
Retirement and Severance Benefits |
- |
- |
3.0 |
3.4 |
3.3 |
|
Non-Current Other Payable |
- |
- |
0.4 |
- |
0.3 |
|
Depreciation of Real Estate |
1.2 |
0.9 |
0.2 |
- |
- |
|
Amort. of Intangibless |
0.7 |
0.6 |
0.5 |
1.5 |
2.3 |
|
Expense of Allow. for DA |
0.7 |
1.5 |
0.5 |
0.1 |
0.0 |
|
Gain/Loss on Derivative Assets |
4.8 |
- |
- |
- |
- |
|
Redemption of Bond |
- |
- |
- |
0.0 |
0.0 |
|
Amort-Bad Debt Exp. |
- |
- |
- |
1.0 |
0.6 |
|
Loss on Disposal of Trade Receivables |
1.2 |
0.2 |
- |
- |
- |
|
Losses on Foreign Currency Translation |
- |
- |
- |
0.0 |
4.5 |
|
Loss-Sale of Invmt
in Associates |
0.1 |
0.3 |
- |
- |
0.7 |
|
Loss under Equity Method |
0.5 |
- |
- |
1.7 |
0.8 |
|
Interest Income |
-0.7 |
-1.5 |
-1.3 |
- |
- |
|
Interest Expenses |
6.3 |
2.4 |
1.8 |
- |
- |
|
Loss-Valuation of Derivatives |
- |
- |
- |
1.0 |
- |
|
Corporate Taxes Expense |
- |
- |
0.4 |
- |
- |
|
L-Disp. Securities
avail. for Sale |
- |
- |
- |
0.3 |
0.3 |
|
Loss on Sale of Tangibles |
0.8 |
- |
- |
0.2 |
1.0 |
|
Gain under Equity Method |
- |
-0.3 |
- |
- |
-0.1 |
|
Gain on Sale of Tangibles |
0.0 |
-0.7 |
- |
0.0 |
-0.2 |
|
Gain-Derivatives Valuation |
- |
- |
- |
- |
-4.5 |
|
Miscellaneous Gain |
- |
- |
- |
- |
0.0 |
|
Gain-Disp. of
Securities/Equity Method |
- |
- |
- |
- |
0.0 |
|
G/L on Foreign Currency Translation |
-1.5 |
0.0 |
0.0 |
- |
- |
|
Gains on Foreign Currency Translation |
- |
- |
- |
-1.0 |
0.0 |
|
Other Cash Flow from Operating Activity |
0.8 |
0.6 |
0.3 |
- |
- |
|
Trade Receivables |
-29.1 |
-9.9 |
-50.4 |
-11.0 |
5.1 |
|
Decrease Acct Rcvbl |
- |
- |
- |
-0.1 |
-2.3 |
|
Inc in Accrued Inc |
- |
- |
- |
0.0 |
-0.1 |
|
Dec Advanced Payment |
- |
- |
- |
-0.1 |
-0.2 |
|
Dec In Prepaid Exp |
- |
- |
- |
0.3 |
0.1 |
|
Inventory |
-45.0 |
-34.1 |
-22.1 |
-5.7 |
-2.8 |
|
LT Prepaid Expenses |
- |
- |
- |
0.0 |
0.1 |
|
Trade Payable |
32.3 |
50.1 |
27.8 |
10.2 |
3.5 |
|
Other Payable |
-5.6 |
10.9 |
-8.7 |
14.1 |
-1.1 |
|
Inc in Accrued Exp. |
- |
- |
- |
1.2 |
0.2 |
|
Inc in Deposit Rcvd |
- |
- |
- |
-0.9 |
0.0 |
|
Inc in Advances Rcvd |
- |
- |
- |
0.6 |
1.5 |
|
Unearned Income |
- |
- |
- |
0.0 |
0.0 |
|
Increase in Sec Rcvd |
- |
- |
- |
1.2 |
0.5 |
|
Retirement & Severance Benefits from Aff |
- |
- |
0.5 |
0.3 |
0.2 |
|
Prov. for Retirement
Allow. |
1.4 |
-0.2 |
-5.3 |
-3.2 |
-3.6 |
|
Inc-Dep for Ret Ins |
- |
- |
- |
-0.2 |
0.0 |
|
Inc in Natl Pension |
- |
- |
- |
0.0 |
0.0 |
|
Retirement Trust |
- |
- |
- |
-0.4 |
- |
|
Plan Assets |
- |
- |
-0.3 |
- |
- |
|
Deferred Taxes-Asset |
- |
- |
- |
1.2 |
3.1 |
|
Guarantee Deposit |
- |
- |
- |
0.0 |
- |
|
Decs in Other
Current Fincl Assets |
2.7 |
-0.3 |
1.6 |
- |
- |
|
Other Current Assets |
1.0 |
-2.9 |
-2.0 |
- |
- |
|
Decrease in Other Non-Current Assets |
- |
0.0 |
0.0 |
- |
- |
|
Cash-Tax Paid |
-1.5 |
0.0 |
0.0 |
- |
- |
|
Other Current Fincl
Liabilities |
-1.7 |
4.2 |
4.7 |
- |
- |
|
Other Non-Current Fincl
Liabilities |
1.0 |
- |
- |
- |
- |
|
Other Current Liabilities |
6.8 |
-0.2 |
2.1 |
- |
- |
|
Other Non-Current Liabilities |
0.2 |
-0.1 |
- |
- |
- |
|
Adj. for Cash Flow from Operations |
0.0 |
0.0 |
0.0 |
- |
- |
|
Cash from Operating Activities |
2.5 |
52.3 |
-29.1 |
29.2 |
23.7 |
|
|
|
|
|
|
|
|
Current Finacial
Instruments, Net |
- |
- |
- |
15.7 |
4.6 |
|
ST Financial Assets,Net |
-0.2 |
-0.6 |
7.5 |
- |
- |
|
Dec-LT Finl Assets |
- |
- |
- |
- |
0.0 |
|
Disp-LT Securities
avail. for Sale |
- |
- |
- |
- |
1.8 |
|
Disposal of Investment Properties |
- |
0.5 |
- |
- |
- |
|
Sale of Other Current Fincl
Instruments |
3.6 |
4.1 |
- |
- |
- |
|
Sale of Other LT Finacial
Instrm |
0.5 |
8.5 |
- |
- |
- |
|
Dec-Guarantee Dep |
- |
- |
- |
1.5 |
5.0 |
|
Sale in Current Loans |
0.2 |
0.2 |
- |
- |
- |
|
Disposal of Intangible Assets |
- |
0.0 |
0.0 |
- |
- |
|
Disp-Membership Rght |
- |
- |
- |
- |
0.2 |
|
Disposal Machinery |
- |
- |
- |
- |
2.5 |
|
Disposal-Structure |
- |
- |
- |
- |
0.1 |
|
Disposal Vehicles |
- |
- |
- |
0.0 |
0.0 |
|
Disp Tools/Equip. |
- |
- |
- |
0.5 |
1.3 |
|
Disposal of Property, Plant and Equipmen |
0.9 |
1.8 |
0.9 |
- |
- |
|
Purchase of Sec. Available-for-Sale |
- |
- |
-0.1 |
-0.3 |
- |
|
Increase-ST Financial Assets |
- |
- |
- |
-6.8 |
- |
|
Purchase of Non-Current Fincl
Instrm |
- |
- |
0.0 |
- |
- |
|
Purchase of Real Estate |
-72.0 |
-34.6 |
-7.5 |
- |
- |
|
Purchase of Equity Method Sec. |
- |
- |
- |
-2.1 |
- |
|
Purchase of Other Investment Assets |
- |
- |
-0.1 |
- |
- |
|
Purchase of Other Current Fincl
Instrm |
-1.1 |
-2.0 |
- |
- |
- |
|
Purchase of Other LT Finacial
Instrm |
-14.0 |
-11.3 |
- |
- |
- |
|
Acquire Subsidiary Stock |
- |
- |
- |
- |
-6.3 |
|
Increase in Current Loans |
-1.0 |
-1.5 |
- |
- |
- |
|
Increase-LT Loans |
- |
- |
- |
-1.3 |
- |
|
Purchase of Other Invmt
Assets |
- |
- |
- |
-0.9 |
-1.8 |
|
Net Increase in Deposit Provided |
- |
- |
-4.6 |
-2.9 |
-2.1 |
|
Purchase of Tangibles |
-19.6 |
-24.7 |
-18.4 |
- |
- |
|
Purchase of Land |
- |
- |
- |
-3.4 |
- |
|
Purchase of Buildings |
- |
- |
- |
-2.4 |
- |
|
Purch. of Machinery |
- |
- |
- |
- |
-0.2 |
|
Acq. of Vehicles |
- |
- |
- |
- |
0.0 |
|
Acq. in Tools/Equip. |
- |
- |
- |
-5.1 |
-4.7 |
|
Purchase of Construction in Progress |
- |
- |
- |
-15.0 |
-0.4 |
|
Purchase of Intangibless |
-0.6 |
-0.6 |
-1.6 |
- |
- |
|
Purchase of Other Intangibless |
- |
- |
- |
-0.2 |
-0.1 |
|
Acquisition of Associates |
-6.8 |
-4.1 |
-1.1 |
- |
- |
|
Cash Flows from Purchase of Subsidiaries |
-1.0 |
- |
- |
- |
- |
|
Cash Interest Received |
0.2 |
0.8 |
0.8 |
- |
- |
|
Dividend Received |
0.1 |
0.0 |
- |
- |
- |
|
Cash from Investing Activities |
-110.8 |
-63.5 |
-24.1 |
-22.9 |
-0.1 |
|
|
|
|
|
|
|
|
Current Borrowings, Net |
56.1 |
4.4 |
1.8 |
- |
- |
|
Increase in Bonds |
44.2 |
- |
34.4 |
- |
- |
|
Exercise of Stocks Options |
0.2 |
0.2 |
- |
0.1 |
0.1 |
|
Decrease in Current Portion of Long-Term |
- |
- |
-12.0 |
- |
- |
|
Decrease in Current Portion of Bonds |
-17.7 |
- |
- |
- |
- |
|
Decrease in Treasury Stocks |
16.7 |
- |
- |
- |
- |
|
Dividend Paid |
-1.8 |
-0.9 |
- |
-0.8 |
- |
|
Cash Outflow-Consol. Capital Transaction |
- |
- |
- |
- |
-6.4 |
|
Consolidated Adjustment |
- |
- |
- |
- |
1.2 |
|
Increase in Non-Current Borrowings |
17.7 |
9.0 |
6.1 |
- |
- |
|
Cash-Interest Paid |
-4.7 |
-2.2 |
-1.5 |
- |
- |
|
Cash from Financing Activities |
110.7 |
10.6 |
28.7 |
-0.7 |
-5.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Incs or Decs in Cash & Cash Equivalents |
2.3 |
-0.6 |
-24.5 |
5.7 |
18.5 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
7.8 |
8.5 |
32.6 |
23.5 |
8.7 |
|
Cash and Cash Equivalents at End |
10.1 |
7.9 |
8.1 |
29.2 |
27.2 |
|
Cash Interest Paid |
4.7 |
2.2 |
1.5 |
- |
- |
|
Cash Taxes Paid |
1.5 |
0.0 |
0.0 |
- |
- |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
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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.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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.