MIRA
INFORM REPORT
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Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
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Name : |
HYUNDAI STEEL COMPANY |
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Formerly Known as: |
INI Steel Company |
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Registered Office : |
1-10, Songhyeon-Dong,, Dong-Gu, Incheon, 401040 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
10.06.1953 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
manufacturer
of steel products |
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No. of Employees : |
8,887 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
South Korea - ECONOMIC OVERVIEW
South Korea
over the past four decades has demonstrated incredible growth and global
integration to become a high-tech industrialized economy. In the 1960s, GDP per
capita was comparable with levels in the poorer countries of Africa and Asia.
In 2004, South Korea joined the trillion dollar club of world economies, and is
currently the world's 12th largest economy. Initially, a system of close
government and business ties, including directed credit and import restrictions,
made this success possible. The government promoted the import of raw materials
and technology at the expense of consumer goods, and encouraged savings and
investment over consumption. The Asian financial crisis of 1997-98 exposed
longstanding weaknesses in South Korea's development model including high
debt/equity ratios and massive short-term foreign borrowing. GDP plunged by
6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous
economic reforms following the crisis, including greater openness to foreign
investment and imports. Growth moderated to about 4% annually between 2003 and
2007. Korea's export focused economy was hit hard by the 2008 global economic
downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in
2010. The US-South Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Throughout 2012 the economy
experienced sluggish growth because of market slowdowns in the United States,
China, and the Eurozone. The incoming administration in 2013, following the
December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors,
such as services. The South Korean economy's long term challenges include a
rapidly aging population, inflexible labor market, and heavy reliance on
exports - which comprise half of GDP.
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Source : CIA |
Company name & address
Hyundai Steel Company
1-10, Songhyeon-Dong,, Dong-Gu
Incheon, 401040
Korea, Republic of
Tel: 82-32-7602114
Fax: 82-2-21129599
Synthesis
Employees: 8,887
Company Type: Public Independent
Traded: Korea Stock Exchange: 004020
Incorporation Date: 10-Jun-1953
Auditor: KPMG LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales: 12,553.9 1
Net Income: 706.7
Total Assets: 21,522.3 2
Market Value: 5,782.5 (16-May-2013)
Business Description
HYUNDAI STEEL COMPANY is a Korea-based company engaged in the manufacture of steel products. The Company's products include section steels, wide flange beams, reinforcing bars, hot rolled steels, section plates, steel plates and others. Its products are used for shipbuilding, construction, engineering, railway, skyscrapers, bridges, steel tower and other industries. It also engages in the manufacture of construction machineries through its China-based subsidiary. The Company distributes its steel products within domestic market and to overseas markets. For the three months ended 31 March 2013, Hyundai Steel Company revenues decreased 21% to W2.984T. Net income decreased 87% to W20.43B. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Finance Income decrease of 68% to W44.81B (income), Finance Expense increase of 62% to W202.81B (expense), Other Non-Operating Expense increase of 17% to W17.9B (expense).
Industry
Industry Iron and Steel
ANZSIC 2006: 2110 - Iron
Smelting and Steel Manufacturing
NACE 2002: 2710 - Manufacture
of basic iron and steel and of ferro-alloys
NAICS 2002: 331111 - Iron and
Steel Mills
UK SIC 2003: 2710 - Manufacture
of basic iron and steel and of ferro-alloys
UK SIC 2007: 2410 - Manufacture
of basic iron and steel and of ferro-alloys
US SIC 1987: 3312 - Steel
Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills
Key Executives
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Name |
Title |
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Seung Ha Park |
Vice Chairman of the Board, Co-Chief Executive Officer |
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Chung Sik Song |
Managing Director |
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Won Seok Cho |
Vice President |
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Yoo Cheol Woo |
President & Co-CEO |
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Myeong Seok Oh |
Managing Director |
Significant Developments
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* number of significant developments within the last 12 months
Financial Summary
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As of 31-Mar-2013 |
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1066.4
Corporate Overview
Location
1-10, Songhyeon-Dong,, Dong-Gu
Incheon, 401040
Korea, Republic of
Tel: 82-32-7602114
Fax: 82-2-21129599
Quote Symbol - Exchange
004020 - Korea
Stock Exchange
Sales KRW(mil): 14,146,369.0
Assets KRW(mil): 22,951,386.0
Employees: 8,887
Fiscal Year End: 31-Dec-2012
Industry: Iron and Steel
Incorporation Date: 10-Jun-1953
Company Type: Public Independent
Quoted Status: Quoted
Previous Name: INI Steel Company
Vice Chairman of
the Board, Co-Chief Executive Officer:
Seung Ha Park
Industry Codes
ANZSIC 2006 Codes:
2110 - Iron Smelting and Steel Manufacturing
2462 - Mining and Construction Machinery Manufacturing
NACE 2002 Codes:
2710 - Manufacture of basic iron and steel and of ferro-alloys
2952 - Manufacture of machinery for mining, quarrying and
construction
NAICS 2002 Codes:
331111 - Iron and Steel Mills
333120 - Construction Machinery Manufacturing
US SIC 1987:
3312 - Steel Works, Blast Furnaces (Including Coke Ovens), and
Rolling Mills
3531 - Construction Machinery and Equipment
UK SIC 2003:
2710 - Manufacture of basic iron and steel and of ferro-alloys
2952 - Manufacture of machinery for mining, quarrying and
construction
UK SIC 2007:
2410 - Manufacture of basic iron and steel and of ferro-alloys
2892 - Manufacture of machinery for mining, quarrying and
construction
Business
Description
HYUNDAI STEEL
COMPANY is a Korea-based company engaged in the manufacture of steel products.
The Company's products include section steels, wide flange beams, reinforcing
bars, hot rolled steels, section plates, steel plates and others. Its products
are used for shipbuilding, construction, engineering, railway, skyscrapers,
bridges, steel tower and other industries. It also engages in the manufacture
of construction machineries through its China-based subsidiary. The Company
distributes its steel products within domestic market and to overseas markets.
For the three months ended 31 March 2013, Hyundai Steel Company revenues
decreased 21% to W2.984T. Net income decreased 87% to W20.43B. Revenues reflect
a decrease in demand for the Company's products and services due to unfavorable
market conditions. Net income also reflects Finance Income decrease of 68% to
W44.81B (income), Finance Expense increase of 62% to W202.81B (expense), Other
Non-Operating Expense increase of 17% to W17.9B (expense).
More Business
Descriptions
Comprehensive
steel company producing iron and steel products, including wide flange beams,
structural tees, stainless steel plates and strips, sheet piles, railway and
light rails, elevator guide rails, equal angles, inverted angles, channels,
reinforcing deformed bars, wire rods and steel castings
Steel Mfr
Iron and Steel Mills and Ferroalloy Manufacturing
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Executive report
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Board
of Directors |
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Board Member |
Chairman |
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Vice Chairman of the Board, Co-Chief
Executive Officer |
Vice-Chairman |
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Board Member |
Director/Board Member |
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Standing 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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Director |
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Non-Executive Independent Director |
Director/Board Member |
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Non-Executive Independent Director |
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Managing Director |
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Outside Director |
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Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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President & Co-CEO |
Director/Board Member |
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President, Co-Chief Executive Officer,
Director |
Director/Board Member |
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Executives |
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Vice Chairman of the Board, Co-Chief
Executive Officer |
Chief Executive Officer |
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President & Co-CEO |
Chief Executive Officer |
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President, Co-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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Managing Director |
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Managing Director |
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Managing Director |
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Vice President |
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Vice President |
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Significant Developments
Hyundai Steel Co., Ltd. Declares Annual Cash Dividend for FY 2012 Jan 31, 2013
Hyundai Steel Co., Ltd. announced that it has declared an annual cash dividend of KRW 500 per share of common stock to shareholders of record on December 31, 2012, for the fiscal year 2012. The dividend rate of market price is 0.6% and the total amount of the cash dividend is KRW 42,142,747,500.
Hyundai Steel Co., Ltd. Issues FY 2013 Revenue Outlook Blow Analysts' Estimates Jan 31, 2013
Hyundai Steel Co., Ltd. announced that it expects the revenue for the fiscal year 2013 to record KRW 13,400 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of KRW 14,074.05 billion for the fiscal year 2013.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
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Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
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Auditor |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
KPMG LLP |
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Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
12,553.9 |
13,773.5 |
8,852.0 |
6,733.2 |
10,223.8 |
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Revenue |
12,553.9 |
13,773.5 |
8,852.0 |
6,733.2 |
10,223.8 |
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Total Revenue |
12,553.9 |
13,773.5 |
8,852.0 |
6,733.2 |
10,223.8 |
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Cost of Revenue |
11,296.9 |
12,136.5 |
7,552.7 |
5,947.2 |
8,598.9 |
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Cost of Revenue, Total |
11,296.9 |
12,136.5 |
7,552.7 |
5,947.2 |
8,598.9 |
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Gross Profit |
1,257.0 |
1,637.0 |
1,299.4 |
786.0 |
1,624.9 |
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Selling/General/Administrative Expense |
378.1 |
388.5 |
291.9 |
231.9 |
331.6 |
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Labor & Related Expense |
85.5 |
79.3 |
73.4 |
57.2 |
69.7 |
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Advertising Expense |
10.8 |
10.9 |
11.8 |
10.2 |
10.7 |
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Total Selling/General/Administrative Expenses |
474.3 |
478.6 |
377.1 |
299.2 |
411.9 |
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Research & Development |
- |
- |
- |
0.2 |
0.2 |
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Depreciation |
8.9 |
8.0 |
7.3 |
7.4 |
8.8 |
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Amortization of Intangibles |
0.1 |
0.1 |
0.1 |
0.4 |
1.0 |
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Depreciation/Amortization |
9.0 |
8.1 |
7.4 |
7.8 |
9.9 |
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Investment Income -
Operating |
- |
- |
11.9 |
- |
- |
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Interest/Investment Income - Operating |
- |
- |
11.9 |
- |
- |
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Interest Expense (Income) - Net Operating Total |
- |
- |
11.9 |
- |
- |
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Impairment-Assets Held for Sale |
- |
- |
- |
- |
5.1 |
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Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.7 |
- |
- |
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Unusual Expense (Income) |
- |
- |
0.7 |
- |
5.1 |
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Other Operating Expense |
- |
- |
9.6 |
- |
- |
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Other, Net |
- |
- |
-23.4 |
- |
- |
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Other Operating Expenses, Total |
- |
- |
-13.8 |
- |
- |
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Total Operating Expense |
11,780.2 |
12,623.1 |
7,936.0 |
6,254.4 |
9,026.0 |
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Operating Income |
773.7 |
1,150.4 |
916.0 |
478.8 |
1,197.8 |
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Interest Expense -
Non-Operating |
-307.2 |
-364.1 |
-186.0 |
-108.2 |
-151.4 |
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Interest Expense, Net Non-Operating |
-307.2 |
-364.1 |
-186.0 |
-108.2 |
-151.4 |
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Interest Income -
Non-Operating |
50.7 |
77.8 |
65.3 |
51.0 |
60.3 |
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Investment Income -
Non-Operating |
312.9 |
-59.2 |
104.4 |
519.7 |
-258.5 |
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Interest/Investment Income - Non-Operating |
363.5 |
18.5 |
169.7 |
570.7 |
-198.3 |
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Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
- |
- |
- |
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Interest Income (Expense) - Net Non-Operating Total |
56.3 |
-345.6 |
-16.3 |
462.5 |
-349.7 |
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Gain (Loss) on Sale of Assets |
3.2 |
2.3 |
- |
-1.6 |
-13.6 |
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Other Non-Operating Income (Expense) |
-7.3 |
13.5 |
- |
20.1 |
15.3 |
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Other, Net |
-7.3 |
13.5 |
- |
20.1 |
15.3 |
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Income Before Tax |
825.9 |
820.6 |
899.8 |
959.8 |
849.8 |
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Total Income Tax |
119.1 |
146.2 |
102.0 |
43.3 |
132.6 |
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Income After Tax |
706.7 |
674.4 |
797.8 |
916.6 |
717.2 |
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Minority Interest |
- |
- |
- |
-14.0 |
30.2 |
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Net Income Before Extraord Items |
706.7 |
674.4 |
797.8 |
902.5 |
747.4 |
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Net Income |
706.7 |
674.4 |
797.8 |
902.5 |
747.4 |
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Preferred Dividends |
- |
- |
- |
-4.5 |
-3.7 |
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Total Adjustments to Net Income |
- |
- |
- |
-4.5 |
-3.7 |
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Income Available to Common Excl Extraord Items |
706.7 |
674.4 |
797.8 |
898.1 |
743.7 |
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Income Available to Common Incl Extraord Items |
706.7 |
674.4 |
797.8 |
898.1 |
743.7 |
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Basic/Primary Weighted Average Shares |
84.3 |
84.2 |
83.9 |
83.5 |
83.5 |
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Basic EPS Excl Extraord Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
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Basic/Primary EPS Incl Extraord Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
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Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
3.7 |
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Diluted Net Income |
706.7 |
674.4 |
797.8 |
898.1 |
747.4 |
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Diluted Weighted Average Shares |
84.3 |
84.2 |
83.9 |
83.5 |
83.9 |
|
Diluted EPS Excl Extraord Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
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Diluted EPS Incl Extraord Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
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Dividends per Share - Common Stock Primary Issue |
0.44 |
0.45 |
0.43 |
0.39 |
0.45 |
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Gross Dividends - Common Stock |
37.4 |
38.0 |
36.4 |
32.7 |
38.0 |
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Interest Expense, Supplemental |
307.2 |
364.1 |
186.0 |
108.2 |
151.4 |
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Interest Capitalized, Supplemental |
-106.3 |
-29.7 |
-149.8 |
-146.4 |
-95.8 |
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Depreciation, Supplemental |
628.3 |
631.8 |
345.2 |
221.6 |
259.1 |
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Total Special Items |
-3.2 |
-2.3 |
0.7 |
1.6 |
18.7 |
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Normalized Income Before Tax |
822.7 |
818.3 |
900.5 |
961.4 |
868.5 |
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Effect of Special Items on Income Taxes |
-0.5 |
-0.4 |
0.1 |
0.1 |
2.9 |
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Inc Tax Ex Impact of Sp Items |
118.7 |
145.8 |
102.1 |
43.3 |
135.5 |
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Normalized Income After Tax |
704.0 |
672.5 |
798.4 |
918.1 |
733.0 |
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|
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Normalized Inc. Avail to Com. |
704.0 |
672.5 |
798.4 |
899.6 |
759.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
8.35 |
7.99 |
9.51 |
10.77 |
9.09 |
|
Diluted Normalized EPS |
8.35 |
7.99 |
9.51 |
10.77 |
9.09 |
|
Amort of Intangibles, Supplemental |
11.4 |
2.1 |
1.0 |
1.1 |
1.7 |
|
Rental Expenses |
3.0 |
2.5 |
2.0 |
2.0 |
2.4 |
|
Advertising Expense, Supplemental |
10.8 |
10.9 |
11.8 |
10.2 |
10.7 |
|
Research & Development Exp, Supplemental |
17.8 |
14.0 |
24.3 |
0.2 |
0.2 |
|
Normalized EBIT |
773.7 |
1,150.4 |
928.7 |
478.8 |
1,202.9 |
|
Normalized EBITDA |
1,413.3 |
1,784.3 |
1,274.9 |
701.5 |
1,463.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
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 |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
824.1 |
856.8 |
893.2 |
738.0 |
796.4 |
|
Short Term Investments |
164.7 |
387.7 |
406.1 |
990.8 |
108.1 |
|
Cash and Short Term Investments |
988.8 |
1,244.5 |
1,299.4 |
1,728.8 |
904.5 |
|
Accounts Receivable -
Trade, Gross |
1,838.7 |
2,189.2 |
1,887.9 |
826.4 |
1,194.6 |
|
Provision for Doubtful
Accounts |
-0.5 |
-0.6 |
-1.0 |
-6.1 |
-5.5 |
|
Trade Accounts Receivable - Net |
1,843.6 |
2,195.6 |
1,894.0 |
837.4 |
1,194.6 |
|
Other Receivables |
63.0 |
14.6 |
9.9 |
7.5 |
10.2 |
|
Total Receivables, Net |
1,906.6 |
2,210.2 |
1,903.9 |
845.0 |
1,204.8 |
|
Inventories - Finished Goods |
940.6 |
859.1 |
803.0 |
485.0 |
644.4 |
|
Inventories - Work In Progress |
451.0 |
511.8 |
401.3 |
212.9 |
268.7 |
|
Inventories - Raw Materials |
449.9 |
559.5 |
535.1 |
407.4 |
349.5 |
|
Inventories - Other |
380.4 |
327.8 |
291.8 |
275.8 |
195.1 |
|
Total Inventory |
2,221.9 |
2,258.2 |
2,031.2 |
1,381.0 |
1,457.6 |
|
Prepaid Expenses |
24.7 |
32.6 |
32.7 |
38.4 |
15.6 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
48.3 |
5.3 |
|
Other Current Assets |
3.0 |
0.0 |
0.3 |
3.1 |
0.2 |
|
Other Current Assets, Total |
3.0 |
0.0 |
0.3 |
51.4 |
5.5 |
|
Total Current Assets |
5,145.0 |
5,745.5 |
5,267.5 |
4,044.5 |
3,587.9 |
|
|
|
|
|
|
|
|
Buildings |
2,393.2 |
2,226.8 |
1,750.2 |
886.6 |
723.2 |
|
Land/Improvements |
2,030.8 |
1,847.7 |
1,843.8 |
1,506.4 |
646.5 |
|
Machinery/Equipment |
9,237.1 |
8,350.2 |
5,568.9 |
3,232.9 |
2,909.3 |
|
Construction in
Progress |
3,966.8 |
1,371.0 |
3,317.0 |
5,295.5 |
2,268.9 |
|
Other
Property/Plant/Equipment |
0.0 |
- |
0.0 |
3.7 |
3.3 |
|
Property/Plant/Equipment - Gross |
17,628.0 |
13,795.7 |
12,479.9 |
10,925.0 |
6,551.1 |
|
Accumulated Depreciation |
-3,578.8 |
-2,766.3 |
-2,258.8 |
-2,211.7 |
-1,831.0 |
|
Property/Plant/Equipment - Net |
14,049.1 |
11,029.4 |
10,221.1 |
8,713.3 |
4,720.1 |
|
Intangibles, Net |
132.0 |
101.4 |
66.3 |
62.8 |
57.9 |
|
LT Investment - Affiliate Companies |
205.9 |
164.0 |
125.9 |
422.8 |
1,080.6 |
|
LT Investments - Other |
1,868.3 |
1,753.4 |
1,739.1 |
446.9 |
178.6 |
|
Long Term Investments |
2,074.2 |
1,917.4 |
1,864.9 |
869.7 |
1,259.2 |
|
Note Receivable - Long Term |
70.1 |
54.5 |
32.8 |
30.1 |
16.1 |
|
Other Long Term Assets |
52.0 |
55.4 |
62.1 |
64.6 |
48.6 |
|
Other Long Term Assets, Total |
52.0 |
55.4 |
62.1 |
64.6 |
48.6 |
|
Total Assets |
21,522.3 |
18,903.4 |
17,514.7 |
13,785.0 |
9,689.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
594.7 |
712.3 |
894.3 |
625.2 |
698.8 |
|
Accrued Expenses |
161.4 |
149.8 |
125.3 |
92.8 |
67.4 |
|
Notes Payable/Short Term Debt |
2,068.8 |
2,718.3 |
2,207.0 |
908.1 |
745.2 |
|
Current Portion - Long Term Debt/Capital Leases |
1,561.5 |
1,093.5 |
997.4 |
588.3 |
87.7 |
|
Customer Advances |
23.6 |
16.2 |
30.3 |
37.3 |
37.0 |
|
Security Deposits |
- |
- |
- |
0.3 |
0.2 |
|
Income Taxes Payable |
86.4 |
67.4 |
79.1 |
204.3 |
155.0 |
|
Other Payables |
1,201.7 |
762.6 |
660.0 |
1,125.7 |
574.6 |
|
Other Current Liabilities |
42.5 |
17.9 |
17.3 |
18.0 |
34.4 |
|
Other Current liabilities, Total |
1,354.1 |
864.1 |
786.8 |
1,385.7 |
801.2 |
|
Total Current Liabilities |
5,740.5 |
5,538.0 |
5,010.8 |
3,600.2 |
2,400.3 |
|
|
|
|
|
|
|
|
Long Term Debt |
6,049.3 |
5,002.6 |
4,639.7 |
4,155.2 |
3,126.0 |
|
Total Long Term Debt |
6,049.3 |
5,002.6 |
4,639.7 |
4,155.2 |
3,126.0 |
|
Total Debt |
9,679.6 |
8,814.3 |
7,844.1 |
5,651.7 |
3,958.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
442.8 |
428.3 |
386.1 |
162.8 |
162.6 |
|
Deferred Income Tax |
442.8 |
428.3 |
386.1 |
162.8 |
162.6 |
|
Minority Interest |
- |
- |
- |
112.8 |
83.9 |
|
Reserves |
- |
- |
- |
0.1 |
0.1 |
|
Pension Benefits - Underfunded |
54.3 |
0.0 |
34.3 |
74.5 |
80.2 |
|
Other Long Term Liabilities |
16.5 |
18.8 |
15.0 |
6.0 |
2.6 |
|
Other Liabilities, Total |
70.8 |
18.8 |
49.4 |
80.6 |
82.9 |
|
Total Liabilities |
12,303.5 |
10,987.7 |
10,085.9 |
8,111.7 |
5,855.6 |
|
|
|
|
|
|
|
|
Preferred Stock - Non Redeemable |
- |
- |
- |
1.8 |
1.7 |
|
Preferred Stock - Non Redeemable, Net |
- |
- |
- |
1.8 |
1.7 |
|
Common Stock |
400.0 |
370.3 |
375.9 |
364.5 |
337.0 |
|
Common Stock |
400.0 |
370.3 |
375.9 |
364.5 |
337.0 |
|
Additional Paid-In Capital |
299.9 |
277.7 |
271.4 |
596.0 |
551.0 |
|
Retained Earnings (Accumulated Deficit) |
7,381.0 |
6,199.0 |
5,693.5 |
4,058.3 |
2,873.9 |
|
Treasury Stock - Common |
-16.1 |
-14.9 |
-17.6 |
-12.6 |
-11.6 |
|
Unrealized Gain (Loss) |
1,165.4 |
1,095.8 |
1,117.4 |
659.4 |
75.1 |
|
Translation Adjustment |
0.3 |
1.6 |
0.3 |
6.1 |
7.3 |
|
Other Equity |
- |
- |
- |
- |
- |
|
Other Comprehensive Income |
-11.7 |
-13.7 |
-12.0 |
-0.2 |
-0.2 |
|
Other Equity, Total |
-11.4 |
-12.2 |
-11.8 |
5.9 |
7.1 |
|
Total Equity |
9,218.8 |
7,915.7 |
7,428.8 |
5,673.3 |
3,834.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
21,522.3 |
18,903.4 |
17,514.7 |
13,785.0 |
9,689.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
84.3 |
84.3 |
84.1 |
83.5 |
83.5 |
|
Total Common Shares Outstanding |
84.3 |
84.3 |
84.1 |
83.5 |
83.5 |
|
Treasury Shares - Common Stock Primary Issue |
1.0 |
1.0 |
1.2 |
1.4 |
1.4 |
|
Shares Outstanding - Preferred Stock Primary
Issue |
- |
- |
- |
0.4 |
0.4 |
|
Total Preferred Stock Outstanding |
- |
- |
- |
0.4 |
0.4 |
|
Treasury Shares - Preferred Primary Issue |
- |
- |
- |
0.0 |
0.0 |
|
Employees |
- |
8,468 |
8,268 |
7,678 |
6,686 |
|
Number of Common Shareholders |
- |
- |
108,090 |
- |
120,413 |
|
Accumulated Intangible Amort, Suppl. |
21.8 |
9.3 |
7.4 |
- |
- |
|
Deferred Revenue - Current |
23.6 |
16.2 |
30.3 |
37.3 |
37.0 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
2,983.6 |
1,384.8 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
588.5 |
71.8 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
304.1 |
96.0 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
432.9 |
197.5 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
548.2 |
226.8 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
374.1 |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
737.0 |
293.6 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
922.3 |
226.8 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
735.8 |
792.7 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated 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 |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
706.7 |
674.4 |
797.8 |
916.6 |
717.2 |
|
Depreciation |
628.3 |
631.8 |
345.2 |
221.6 |
259.1 |
|
Depreciation/Depletion |
628.3 |
631.8 |
345.2 |
221.6 |
259.1 |
|
Amortization of Intangibles |
11.4 |
2.1 |
1.0 |
1.1 |
1.7 |
|
Amortization |
11.4 |
2.1 |
1.0 |
1.1 |
1.7 |
|
Deferred Taxes |
- |
- |
- |
-200.8 |
-55.1 |
|
Unusual Items |
-3.2 |
-2.9 |
1.1 |
-367.0 |
22.7 |
|
Equity in Net Earnings (Loss) |
-16.0 |
-22.6 |
-18.8 |
-63.2 |
-53.0 |
|
Other Non-Cash Items |
184.3 |
620.5 |
210.5 |
-27.6 |
196.3 |
|
Non-Cash Items |
165.1 |
595.1 |
192.8 |
-457.9 |
165.9 |
|
Accounts Receivable |
484.3 |
-310.7 |
-539.8 |
184.6 |
-240.2 |
|
Inventories |
192.2 |
-249.8 |
-671.1 |
186.2 |
-476.5 |
|
Prepaid Expenses |
- |
- |
- |
-19.7 |
-0.1 |
|
Other Assets |
-1.0 |
-20.7 |
1.3 |
0.0 |
0.4 |
|
Accounts Payable |
176.7 |
-79.5 |
-166.8 |
335.9 |
361.6 |
|
Accrued Expenses |
- |
- |
- |
18.2 |
5.8 |
|
Taxes Payable |
- |
- |
- |
33.5 |
64.9 |
|
Other Liabilities |
8.2 |
-121.4 |
-74.8 |
-63.9 |
-33.4 |
|
Other Assets & Liabilities, Net |
4.6 |
4.9 |
- |
- |
- |
|
Other Operating Cash Flow |
-452.3 |
-402.5 |
-357.6 |
- |
- |
|
Changes in Working Capital |
412.7 |
-1,179.8 |
-1,808.8 |
674.8 |
-317.5 |
|
Cash from Operating Activities |
1,924.2 |
723.6 |
-472.0 |
1,155.4 |
771.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-2,554.9 |
-1,640.2 |
-1,875.9 |
-2,861.8 |
-1,992.4 |
|
Purchase/Acquisition of Intangibles |
-33.6 |
-36.1 |
-0.6 |
-2.5 |
-4.0 |
|
Capital Expenditures |
-2,588.6 |
-1,676.3 |
-1,876.5 |
-2,864.3 |
-1,996.4 |
|
Sale of Fixed Assets |
15.6 |
9.3 |
0.7 |
15.2 |
12.0 |
|
Sale/Maturity of Investment |
1,676.1 |
1,932.8 |
2,276.5 |
1,389.1 |
858.1 |
|
Purchase of Investments |
-1,456.1 |
-1,951.2 |
-1,679.7 |
-1,113.3 |
-628.2 |
|
Sale of Intangible Assets |
0.7 |
0.4 |
- |
1.4 |
- |
|
Other Investing Cash Flow |
- |
- |
- |
-11.9 |
16.7 |
|
Other Investing Cash Flow Items, Total |
236.3 |
-8.8 |
597.5 |
280.5 |
258.6 |
|
Cash from Investing Activities |
-2,352.3 |
-1,685.1 |
-1,279.0 |
-2,583.8 |
-1,737.8 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
-6.1 |
-3.9 |
|
Financing Cash Flow Items |
- |
- |
- |
-6.1 |
-3.9 |
|
Total Cash Dividends Paid |
-37.4 |
-38.0 |
-36.3 |
-32.8 |
-40.3 |
|
Sale/Issuance of
Common |
- |
- |
- |
- |
0.0 |
|
Repurchase/Retirement
of Common |
- |
- |
- |
- |
-4.2 |
|
Common Stock, Net |
- |
- |
- |
- |
-4.2 |
|
Options Exercised |
- |
- |
- |
- |
1.1 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
- |
- |
-3.1 |
|
Short Term Debt Issued |
3,155.8 |
2,701.9 |
2,909.0 |
1,509.7 |
1,988.8 |
|
Short Term Debt
Reduction |
-3,887.9 |
-2,240.0 |
-1,582.3 |
-1,374.4 |
-2,021.6 |
|
Short Term Debt, Net |
-732.1 |
461.8 |
1,326.7 |
135.4 |
-32.8 |
|
Long Term Debt Issued |
2,273.1 |
1,539.4 |
1,170.8 |
1,306.3 |
1,660.8 |
|
Long Term Debt
Reduction |
-1,171.2 |
-1,025.9 |
-554.3 |
-86.5 |
-185.7 |
|
Long Term Debt, Net |
1,102.0 |
513.5 |
616.4 |
1,219.8 |
1,475.1 |
|
Issuance (Retirement) of Debt, Net |
369.9 |
975.3 |
1,943.1 |
1,355.2 |
1,442.3 |
|
Cash from Financing Activities |
332.5 |
937.4 |
1,906.8 |
1,316.3 |
1,395.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.5 |
- |
- |
-0.6 |
- |
|
Net Change in Cash |
-96.0 |
-24.1 |
155.8 |
-112.6 |
428.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
875.9 |
915.0 |
720.9 |
785.9 |
483.1 |
|
Net Cash - Ending Balance |
779.9 |
890.9 |
876.7 |
673.2 |
911.5 |
|
Cash Interest Paid |
415.8 |
344.8 |
182.6 |
- |
- |
|
Cash Taxes Paid |
113.1 |
144.2 |
263.7 |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
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 |
KPMG LLP |
ANSE Accounting
Corporation |
ANSE Accounting
Corporation |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales Revenue |
12,553.9 |
13,773.5 |
8,852.0 |
6,733.2 |
10,223.8 |
|
Total Revenue |
12,553.9 |
13,773.5 |
8,852.0 |
6,733.2 |
10,223.8 |
|
|
|
|
|
|
|
|
Costs of Goods & Services Sold |
11,296.9 |
12,136.5 |
7,552.7 |
5,947.2 |
8,598.9 |
|
Salaries & Wages |
63.0 |
57.6 |
54.7 |
40.4 |
50.2 |
|
Retirement & Severance Benefits |
5.7 |
6.8 |
5.0 |
5.6 |
7.0 |
|
Employee Benefits |
16.8 |
14.8 |
13.7 |
11.2 |
12.4 |
|
Travel Expense |
5.1 |
4.7 |
4.1 |
3.7 |
4.0 |
|
Communication Expense |
1.2 |
1.2 |
1.1 |
1.1 |
0.9 |
|
Utility Expenses |
0.6 |
0.4 |
0.4 |
0.4 |
0.5 |
|
Consumable Expense |
0.8 |
0.9 |
0.8 |
0.7 |
0.6 |
|
Publication Expense |
1.0 |
1.1 |
1.0 |
1.0 |
1.1 |
|
Sample Expense |
- |
- |
- |
0.0 |
0.0 |
|
Expense of Allow. for DA |
- |
- |
- |
0.2 |
1.1 |
|
Taxes & Dues |
3.9 |
3.5 |
3.0 |
3.1 |
3.3 |
|
Rental Expense |
3.0 |
2.5 |
2.0 |
2.0 |
2.4 |
|
Commissions |
36.5 |
32.8 |
29.6 |
21.2 |
26.0 |
|
Education & Training Expense |
1.9 |
1.6 |
1.5 |
0.8 |
1.7 |
|
Depreciation for Invmt Property |
0.3 |
0.3 |
0.2 |
- |
- |
|
Depreciation |
8.9 |
8.0 |
7.3 |
7.4 |
8.8 |
|
Amort. of Intangibless |
0.1 |
0.1 |
0.1 |
0.4 |
1.0 |
|
Repair & Maintenance Expense |
0.4 |
0.4 |
0.4 |
1.0 |
1.3 |
|
Vehicle Expense |
1.5 |
1.2 |
1.0 |
0.9 |
1.0 |
|
Entertainment Expense |
1.3 |
1.4 |
1.5 |
1.1 |
1.4 |
|
Advertising Expense |
10.8 |
10.9 |
11.8 |
10.2 |
10.7 |
|
Activity Expenses |
- |
- |
- |
0.6 |
0.6 |
|
Shipping & Handling Expense |
181.9 |
170.6 |
120.6 |
96.2 |
123.8 |
|
Other Exporting Related Expense |
134.2 |
161.5 |
121.0 |
93.9 |
157.0 |
|
Insurance Premiums |
- |
- |
- |
0.1 |
0.2 |
|
Overseas Activities Expense |
4.3 |
4.3 |
3.5 |
3.7 |
4.5 |
|
Outside Contract Fee |
- |
- |
- |
0.2 |
0.1 |
|
Research & Develop. |
- |
- |
- |
0.2 |
0.2 |
|
Miscellaneous Expense |
- |
- |
- |
0.2 |
0.2 |
|
Adj. for Other Selling & Admin. Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-26.2 |
- |
- |
|
Gain on Foreign Currency Translation |
- |
- |
-2.0 |
- |
- |
|
Gain on Disposal of PPT |
- |
- |
-0.2 |
- |
- |
|
Reversal of Allow. for DA |
- |
- |
-0.4 |
- |
- |
|
Miscellaneous Income |
- |
- |
-23.0 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
38.3 |
- |
- |
|
Loss on Foreign Currency Translation |
- |
- |
1.6 |
- |
- |
|
Loss on Disposal of Invmt in Real Estate |
- |
- |
0.2 |
- |
- |
|
Loss on Disposal of PPT |
- |
- |
0.9 |
- |
- |
|
Loss-Reduct. of Sec. Available-Sale |
- |
- |
- |
- |
5.1 |
|
Donations Paid |
- |
- |
5.0 |
- |
- |
|
Miscellaneous Loss |
- |
- |
4.6 |
- |
- |
|
Loss on Disposal of Inventory |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
11,780.2 |
12,623.1 |
7,936.0 |
6,254.4 |
9,026.0 |
|
|
|
|
|
|
|
|
Interest Income |
50.7 |
77.8 |
65.3 |
51.0 |
60.3 |
|
Dividend Income |
8.8 |
7.7 |
13.9 |
0.2 |
3.7 |
|
Rental Income |
- |
- |
- |
0.9 |
0.9 |
|
Gain on Foreign Currency Transaction |
142.1 |
158.3 |
54.3 |
150.6 |
124.7 |
|
Gain on Foreign Currency Translation |
228.2 |
11.3 |
81.4 |
66.5 |
36.6 |
|
Gain on Derivatives Transaction |
5.1 |
8.8 |
12.7 |
6.7 |
2.9 |
|
Gain-Currency Forwards Transactions |
- |
- |
- |
- |
0.1 |
|
Gain-Disposal of F.A. Avail. for Sale |
0.0 |
- |
- |
0.4 |
- |
|
Gain-Disposal of Equity Method Sec. |
- |
- |
- |
363.1 |
0.0 |
|
Gain on Valuations of Derivatives |
- |
0.6 |
- |
- |
4.1 |
|
Gain-Valuation of Currency Swap |
- |
- |
- |
- |
21.4 |
|
Gain on Disposal of PPE |
4.6 |
4.4 |
- |
7.3 |
5.0 |
|
Gain-Disposal of Fixed Assets |
- |
- |
- |
0.2 |
- |
|
Miscellaneous Income |
23.4 |
26.5 |
- |
29.7 |
22.5 |
|
Adj. for Finance Income |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Operating Income |
- |
0.0 |
- |
- |
- |
|
Interest Expense |
-307.2 |
-364.1 |
-186.0 |
-108.2 |
-148.4 |
|
Loss-Amortization of PV Discount |
- |
- |
- |
- |
-3.0 |
|
Loss on Foreign Currency Transaction |
-63.5 |
-95.1 |
-26.6 |
-120.7 |
-328.9 |
|
Loss on Foreign Currency Translation |
-2.0 |
-163.2 |
-44.6 |
-1.3 |
-172.0 |
|
Loss on Derivative Transaction |
-20.0 |
-9.5 |
-3.2 |
- |
-1.3 |
|
Loss-Currency Forwards Transaction |
- |
- |
- |
- |
-1.3 |
|
Loss-Disposal of F.A. Avail. for Sale |
-0.1 |
-0.1 |
-0.4 |
-1.8 |
-0.4 |
|
Loss on Disposal of Real Estate |
- |
-0.5 |
- |
- |
- |
|
Loss on Valt of Derivatives |
-1.8 |
- |
-1.9 |
- |
- |
|
Loss-Valuation of Currency Swap |
- |
- |
- |
-6.7 |
0.0 |
|
Loss-Revaluation of Tangible Assets |
- |
- |
- |
-0.5 |
- |
|
Adj. for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
L-Trade Rcv Disposal |
- |
- |
- |
-8.6 |
-4.8 |
|
Loss-Disposal of inventory |
- |
- |
- |
- |
0.0 |
|
Loss on Disposal of PPE |
-1.2 |
-2.1 |
- |
-0.6 |
-13.8 |
|
Loss on Disposal of Intangibless |
-0.2 |
- |
- |
- |
- |
|
Loss-Disposal of Other LT Assets |
- |
- |
- |
0.0 |
- |
|
Donations Paid |
-22.5 |
-6.9 |
- |
-4.1 |
-4.3 |
|
Miscellaneous Loss |
-8.1 |
-6.1 |
- |
-6.4 |
-3.9 |
|
Other Commission |
0.0 |
-0.1 |
- |
- |
- |
|
Adj. for Other Non-Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Gain under Equity Method |
16.0 |
22.6 |
18.8 |
63.9 |
54.3 |
|
Loss under Equity Method |
- |
- |
- |
-0.7 |
-1.2 |
|
L-Disp Securties under Equity Method |
- |
- |
- |
- |
-1.0 |
|
Net Income Before Taxes |
825.9 |
820.6 |
899.8 |
959.8 |
849.8 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
119.1 |
146.2 |
102.0 |
43.3 |
132.6 |
|
Net Income After Taxes |
706.7 |
674.4 |
797.8 |
916.6 |
717.2 |
|
|
|
|
|
|
|
|
Gain Minority Int. |
- |
- |
- |
-14.0 |
30.2 |
|
Net Income Before Extra. Items |
706.7 |
674.4 |
797.8 |
902.5 |
747.4 |
|
Net Income |
706.7 |
674.4 |
797.8 |
902.5 |
747.4 |
|
|
|
|
|
|
|
|
Preferred Dividends |
- |
- |
- |
-4.5 |
-3.7 |
|
Income Available to Com Excl ExtraOrd |
706.7 |
674.4 |
797.8 |
898.1 |
743.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
706.7 |
674.4 |
797.8 |
898.1 |
743.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
84.3 |
84.2 |
83.9 |
83.5 |
83.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
|
Basic EPS Including ExtraOrdinary Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
3.7 |
|
Diluted Net Income |
706.7 |
674.4 |
797.8 |
898.1 |
747.4 |
|
Diluted Weighted Average Shares |
84.3 |
84.2 |
83.9 |
83.5 |
83.9 |
|
Diluted EPS Excluding ExtraOrd Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
|
Diluted EPS Including ExtraOrd Items |
8.39 |
8.01 |
9.51 |
10.75 |
8.90 |
|
DPS-Common Stock |
0.44 |
0.45 |
0.43 |
0.39 |
0.45 |
|
Gross Dividends - Common Stock |
37.4 |
38.0 |
36.4 |
32.7 |
38.0 |
|
Normalized Income Before Taxes |
822.7 |
818.3 |
900.5 |
961.4 |
868.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
118.7 |
145.8 |
102.1 |
43.3 |
135.5 |
|
Normalized Income After Taxes |
704.0 |
672.5 |
798.4 |
918.1 |
733.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
704.0 |
672.5 |
798.4 |
899.6 |
759.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
8.35 |
7.99 |
9.51 |
10.77 |
9.09 |
|
Diluted Normalized EPS |
8.35 |
7.99 |
9.51 |
10.77 |
9.09 |
|
Interest Expense, Supplemental |
307.2 |
364.1 |
186.0 |
108.2 |
151.4 |
|
Capitalized Interest |
-106.3 |
-29.7 |
-149.8 |
-146.4 |
-95.8 |
|
Rental Expense, Supplemental |
3.0 |
2.5 |
2.0 |
2.0 |
2.4 |
|
Advertising Expense, Supplemental |
10.8 |
10.9 |
11.8 |
10.2 |
10.7 |
|
R&D Expense, Supplemental |
17.8 |
14.0 |
24.3 |
0.2 |
0.2 |
|
Depreciation, Supplemental |
628.3 |
631.8 |
345.2 |
221.6 |
259.1 |
|
Amort of Intangibles, Supplemental |
11.4 |
2.1 |
1.0 |
1.1 |
1.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
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 |
KPMG LLP |
ANSE Accounting
Corporation |
ANSE Accounting Corporation |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
824.1 |
856.8 |
893.2 |
738.2 |
796.4 |
|
Government Subsidy, Cash & Cash Equiv. |
- |
- |
- |
-0.2 |
- |
|
Current Fincl Instrm |
164.7 |
387.7 |
406.1 |
990.4 |
108.1 |
|
Adjustments for Other Financial Instrume |
0.0 |
0.0 |
0.0 |
- |
- |
|
Secs avail-Sale |
- |
- |
- |
0.4 |
- |
|
Trade Receivable, Gross |
1,838.7 |
2,189.2 |
1,887.9 |
826.4 |
1,194.6 |
|
Allow. for DA for Trade Receivable |
-0.5 |
-0.6 |
-1.0 |
-6.1 |
-5.5 |
|
Current Loans |
6.0 |
4.3 |
3.9 |
2.9 |
3.2 |
|
Account Receivable |
57.0 |
10.4 |
6.0 |
4.6 |
6.9 |
|
Accrued Income |
5.4 |
7.0 |
7.1 |
17.1 |
5.5 |
|
Adj. for Trade & Other Receivable |
- |
0.0 |
0.0 |
- |
- |
|
Advance Payments |
31.9 |
30.7 |
14.0 |
3.1 |
1.8 |
|
Prepaid Expense |
0.3 |
0.1 |
0.0 |
0.1 |
0.3 |
|
Prepaid Value Added Taxes |
24.4 |
32.5 |
32.7 |
38.2 |
15.3 |
|
Prepaid Income Taxes |
- |
- |
- |
0.2 |
0.1 |
|
Current Derivative Assets |
2.9 |
- |
0.2 |
2.8 |
- |
|
Deposits Received for Guarantees |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Other Current Assets |
- |
- |
- |
0.0 |
0.0 |
|
Adj. for Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Dfrd Taxes - Current Assets |
- |
- |
- |
48.3 |
5.3 |
|
Merchandises |
1.0 |
1.1 |
2.2 |
1.6 |
4.8 |
|
Finished Goods |
435.1 |
395.9 |
353.8 |
213.5 |
358.5 |
|
Residual Products |
3.1 |
2.2 |
2.5 |
- |
- |
|
Semi-finished Goods |
250.7 |
311.7 |
249.6 |
114.2 |
182.4 |
|
Work in Progress |
200.3 |
200.1 |
151.7 |
98.7 |
86.3 |
|
Raw Materials |
449.9 |
559.5 |
535.1 |
407.4 |
349.5 |
|
Supplies |
348.5 |
297.1 |
277.8 |
272.6 |
193.3 |
|
Raw Materials in Transit, Current |
501.4 |
459.9 |
444.5 |
269.9 |
281.0 |
|
Adj. for Inventories |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
5,145.0 |
5,745.5 |
5,267.5 |
4,044.5 |
3,587.9 |
|
|
|
|
|
|
|
|
Non-Current Fincl Instrm |
0.0 |
7.0 |
0.0 |
0.1 |
0.1 |
|
Adj. for Other Non-Current Fincl Instrm |
0.0 |
0.0 |
- |
- |
- |
|
Non-Current Securities Available-for-Sal |
1,686.6 |
1,577.9 |
1,567.2 |
438.8 |
171.1 |
|
Invmt in Properties |
181.7 |
168.5 |
171.8 |
- |
- |
|
Other Inv Assets |
- |
- |
- |
8.0 |
7.4 |
|
Invmt in Affiliates |
205.9 |
164.0 |
125.9 |
422.8 |
1,080.6 |
|
Non-Current Loans |
70.1 |
54.5 |
32.8 |
29.7 |
14.9 |
|
LT Trade Rcvbls. |
- |
- |
- |
0.3 |
1.2 |
|
Enrollment Right |
- |
- |
- |
32.6 |
28.9 |
|
Non-Current Derivatives Assets |
0.8 |
8.4 |
10.4 |
17.2 |
- |
|
Non-Current Prepaid Expense |
0.2 |
0.2 |
- |
- |
- |
|
Other in Other Non-Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Current Assets |
0.0 |
- |
- |
- |
- |
|
Other Non-Current Assets |
- |
- |
0.2 |
- |
- |
|
Guarantee Deposits, Non-Current Assets |
50.9 |
46.7 |
51.4 |
47.4 |
29.9 |
|
Currency Swap, LT Assets |
- |
- |
- |
- |
15.1 |
|
Currency Futures, LT Assets |
- |
- |
- |
- |
3.6 |
|
Usufruct on Donated Assets |
- |
- |
- |
0.0 |
0.0 |
|
Lands |
2,030.8 |
1,847.7 |
1,843.8 |
1,506.4 |
646.5 |
|
Buildings |
1,723.6 |
1,561.3 |
1,292.4 |
605.5 |
538.8 |
|
Buildings-Depreciation |
-383.5 |
-298.4 |
-246.8 |
-1.0 |
-0.9 |
|
Buildings Depre. |
- |
- |
- |
-208.6 |
-167.2 |
|
Structures |
1,053.2 |
964.0 |
704.6 |
282.2 |
185.4 |
|
Structures-Reduction |
- |
- |
- |
-0.1 |
-0.1 |
|
Structures-Depreciation |
-161.9 |
-113.1 |
-81.5 |
-59.1 |
-45.4 |
|
Machineries & Equipments |
8,904.8 |
8,052.0 |
5,345.5 |
3,078.3 |
2,787.6 |
|
Machineries & Equipments-Depreciation |
-3,224.3 |
-2,507.1 |
-2,060.9 |
-1,850.1 |
-1,546.0 |
|
Vehicles |
63.4 |
58.7 |
42.3 |
28.7 |
12.1 |
|
Vehicles-Depreciation |
-18.7 |
-14.6 |
-11.3 |
-10.0 |
-7.0 |
|
Tools & Equipments |
269.0 |
239.4 |
181.1 |
125.9 |
109.6 |
|
Tools & Equipments-Depreciation |
-173.9 |
-131.6 |
-105.1 |
-81.4 |
-63.3 |
|
Other Tangibles |
- |
- |
- |
3.7 |
3.3 |
|
Depr.-Other |
- |
- |
- |
-2.5 |
-2.1 |
|
Construction in Progress |
3,966.8 |
1,371.0 |
3,317.0 |
5,295.5 |
2,268.9 |
|
Adj. for Property, Plant & Equipment |
0.0 |
- |
0.0 |
- |
- |
|
Computer Software, Intangible |
- |
0.2 |
0.2 |
0.3 |
0.6 |
|
Exclusive Sidetrack Usage Rights |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Usage Right-Docking Facilities |
29.6 |
28.2 |
29.4 |
49.7 |
27.9 |
|
Usage Right-Docking Facilities-Governmen |
- |
- |
- |
-20.3 |
- |
|
Land Usufruct |
- |
- |
- |
0.2 |
0.2 |
|
Industrial Property Rights |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Membership Rights |
41.7 |
35.4 |
34.1 |
- |
- |
|
Other Intangibless |
5.7 |
5.7 |
2.5 |
0.2 |
0.2 |
|
Development Costs |
55.0 |
31.8 |
- |
- |
- |
|
Adj. for Intangibless |
0.0 |
- |
- |
- |
- |
|
Total Assets |
21,522.3 |
18,903.4 |
17,514.7 |
13,785.0 |
9,689.7 |
|
|
|
|
|
|
|
|
Current Trade Payable |
594.7 |
712.3 |
894.3 |
625.3 |
698.8 |
|
Discount for Present Value for Trade Pay |
- |
- |
- |
-0.1 |
- |
|
Other Payable |
1,201.7 |
762.6 |
660.0 |
1,125.7 |
574.6 |
|
Adj. for Current Trade & Other Payable |
0.0 |
- |
0.0 |
- |
- |
|
Current Borrowings |
2,068.8 |
2,718.3 |
2,207.0 |
908.1 |
745.2 |
|
Advance from Customers, Current |
23.6 |
16.2 |
30.3 |
37.3 |
37.0 |
|
Unearned Income |
0.0 |
- |
- |
- |
- |
|
Withheld |
41.7 |
17.9 |
17.3 |
15.3 |
26.4 |
|
Accrued Expense |
161.4 |
149.8 |
125.3 |
92.8 |
67.4 |
|
Income Taxes Payable |
86.4 |
67.4 |
79.1 |
204.3 |
155.0 |
|
Current Portion of Bonds |
665.6 |
321.1 |
664.9 |
483.8 |
15.9 |
|
Discount on Debentures Issuance, Current |
- |
- |
- |
-0.2 |
- |
|
Current Portion of Long-term Liabilities |
- |
- |
- |
104.7 |
71.8 |
|
Current Portion of Long-Term Borrowings |
896.0 |
772.3 |
332.6 |
- |
- |
|
CL Guarnt Depos. |
- |
- |
- |
0.3 |
0.2 |
|
Current Derivatives Liabilities |
0.8 |
- |
- |
0.6 |
0.0 |
|
Adj. for Other Current Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Current Portion of Liabilities |
- |
- |
- |
2.1 |
8.0 |
|
Discount for Present Value for Current P |
- |
- |
- |
0.0 |
- |
|
Total Current Liabilities |
5,740.5 |
5,538.0 |
5,010.8 |
3,600.2 |
2,400.3 |
|
|
|
|
|
|
|
|
Bonds |
2,921.1 |
2,487.8 |
1,669.7 |
1,764.7 |
1,812.9 |
|
Disc. on Bonds of LT Liabilities |
- |
- |
- |
-4.6 |
- |
|
Non-Current Borrowings |
3,128.2 |
2,514.7 |
2,970.0 |
2,395.1 |
1,313.0 |
|
Total Long Term Debt |
6,049.3 |
5,002.6 |
4,639.7 |
4,155.2 |
3,126.0 |
|
|
|
|
|
|
|
|
Non-Current Fincl Deposits Liabilities |
0.0 |
0.4 |
0.8 |
- |
- |
|
Adj. for Other LT Fincl Liabilities |
0.0 |
- |
0.0 |
- |
- |
|
LT Accounts Pay |
- |
- |
- |
1.1 |
1.1 |
|
LT Secs Deposits |
1.1 |
1.0 |
1.0 |
1.0 |
1.0 |
|
LT Deposit Withheld |
- |
- |
- |
0.3 |
0.1 |
|
Interest Rate Swap, LT Liabilities |
- |
- |
- |
3.6 |
0.4 |
|
Non-Current Derivatives Liabilities |
15.4 |
17.4 |
13.2 |
- |
- |
|
Deferred Income Taxes, LT Liabilities |
442.8 |
428.3 |
386.1 |
162.8 |
162.6 |
|
Reserve-Contingency Loss |
- |
- |
- |
0.1 |
0.1 |
|
Deposit-Retirement Insurance |
- |
- |
- |
-156.8 |
- |
|
Transfer to National Pension Fund |
- |
- |
- |
-3.1 |
- |
|
Retirement & Severance Benefits, Non-Cur |
54.3 |
0.0 |
34.3 |
234.4 |
80.2 |
|
Minority Interest |
- |
- |
- |
112.8 |
83.9 |
|
Total Liabilities |
12,303.5 |
10,987.7 |
10,085.9 |
8,111.7 |
5,855.6 |
|
|
|
|
|
|
|
|
Capital Stock |
400.0 |
370.3 |
375.9 |
364.5 |
337.0 |
|
Preferred Stock |
- |
- |
- |
1.8 |
1.7 |
|
Additional Paid in Capital |
112.7 |
104.4 |
105.9 |
103.2 |
95.4 |
|
Reserve for Assets Revaluation |
- |
- |
- |
358.5 |
331.4 |
|
Other Capital Surplus |
187.2 |
173.3 |
165.5 |
134.3 |
124.1 |
|
Adj. for Capital Surplus |
- |
- |
- |
- |
- |
|
Adj. for Other Paid-in Capital |
- |
- |
0.0 |
- |
- |
|
Legal Reserve |
- |
40.8 |
37.7 |
33.2 |
30.0 |
|
Voluntary Reserve |
- |
4,867.5 |
4,089.3 |
3,039.3 |
2,196.1 |
|
Unappropriated Retained Earnings |
- |
1,290.7 |
1,566.4 |
985.9 |
647.8 |
|
Adj. for Retained Earnings |
- |
0.0 |
0.0 |
- |
- |
|
Retained Earnings |
7,381.0 |
- |
- |
- |
- |
|
Treasury Stock |
-16.1 |
-14.9 |
-17.6 |
-12.6 |
-11.6 |
|
Gain-Revaluation of Tangible Assets |
- |
- |
- |
596.5 |
- |
|
Loss-Valu. of Sec. Available for Sale |
- |
- |
- |
0.0 |
-2.8 |
|
Gain on Valuation of Securities Availabl |
1,174.4 |
1,103.7 |
1,125.9 |
54.5 |
32.7 |
|
Capital Change, Equity Method |
-8.9 |
-7.9 |
-8.5 |
8.7 |
45.2 |
|
Capital Change, Equity Method (Loss) |
- |
- |
- |
-0.3 |
-0.1 |
|
Gain-Valuation of Derivatives |
- |
- |
- |
4.4 |
- |
|
Loss-Valuation of Derivatives |
- |
- |
- |
-4.6 |
-0.2 |
|
Gain/Losses on Valt of Derivatives |
-11.7 |
-13.7 |
-12.0 |
- |
- |
|
Adj.-Accum. Other Comprehensive Income |
0.0 |
0.0 |
- |
- |
- |
|
Overseas Business Translation Credit |
- |
- |
- |
6.1 |
7.3 |
|
Overseas Bus. Translation Debit/Credit |
0.3 |
1.6 |
0.3 |
- |
- |
|
Adj. for Other Capital Items |
- |
- |
- |
- |
- |
|
Total Equity |
9,218.8 |
7,915.7 |
7,428.8 |
5,673.3 |
3,834.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
21,522.3 |
18,903.4 |
17,514.7 |
13,785.0 |
9,689.7 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
84.3 |
84.3 |
84.1 |
83.5 |
83.5 |
|
Total Common Shares Outstanding |
84.3 |
84.3 |
84.1 |
83.5 |
83.5 |
|
T/S-Common Stock |
1.0 |
1.0 |
1.2 |
1.4 |
1.4 |
|
S/O-Preferred Stock |
- |
- |
- |
0.4 |
0.4 |
|
Total Preferred Shares Outstanding |
- |
- |
- |
0.4 |
0.4 |
|
T/S-Preferred Stock |
- |
- |
- |
0.0 |
0.0 |
|
Deferred Revenue, Current |
23.6 |
16.2 |
30.3 |
37.3 |
37.0 |
|
Accumulated Intangible Amort, Suppl. |
21.8 |
9.3 |
7.4 |
- |
- |
|
Full-Time Employees |
- |
8,468 |
8,268 |
7,678 |
6,686 |
|
Number of Common Shareholders |
- |
- |
108,090 |
- |
120,413 |
|
LT Debt Maturing within 1 Yr |
- |
- |
- |
588.5 |
71.8 |
|
LT Debt Maturing within 2 Yr |
- |
- |
- |
304.1 |
96.0 |
|
LT Debt Maturing within 3 Yr |
- |
- |
- |
432.9 |
197.5 |
|
LT Debt Maturing within 4 Yr |
- |
- |
- |
548.2 |
226.8 |
|
LT Debt Maturing within 5 Yr |
- |
- |
- |
374.1 |
- |
|
LT Debt Remaining Maturities |
- |
- |
- |
735.8 |
792.7 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
2,983.6 |
1,384.8 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated 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 |
KPMG LLP |
ANSE Accounting
Corporation |
ANSE Accounting
Corporation |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
706.7 |
674.4 |
797.8 |
916.6 |
717.2 |
|
Depreciation |
628.3 |
631.8 |
345.2 |
221.6 |
259.1 |
|
Amort. of Intangibless |
11.4 |
2.1 |
1.0 |
1.1 |
1.7 |
|
Depreciation of Real Estate |
0.3 |
0.3 |
0.2 |
- |
- |
|
Payment for Retirement Allow., ONCI |
41.5 |
42.9 |
37.0 |
38.5 |
47.1 |
|
Amort-Bad Debt Exp. |
- |
- |
- |
0.2 |
1.1 |
|
Rec. of Allow. for DA |
- |
- |
-0.4 |
- |
- |
|
Amort Discount Value, OP |
- |
- |
- |
- |
3.0 |
|
Dividend Income |
-8.8 |
-7.7 |
-13.9 |
- |
- |
|
Interest Income |
-50.7 |
-77.8 |
-65.3 |
-0.3 |
0.0 |
|
Interest Expenses |
307.2 |
364.1 |
186.0 |
3.0 |
1.7 |
|
Corporate Taxes Expense |
119.1 |
146.2 |
102.0 |
- |
- |
|
Gain-Foreign Currency Translation, Opt |
- |
-0.8 |
-2.0 |
- |
- |
|
Gain-Foreign Currency Translation, Fin. |
- |
-10.5 |
-81.4 |
- |
- |
|
Gains on Foreign Currency Translation |
-228.2 |
- |
- |
-66.5 |
-36.6 |
|
G-For Curr Transactn |
- |
- |
- |
-5.6 |
0.0 |
|
Gain-Interest Rate Swaps Transactions |
- |
- |
- |
-0.8 |
-2.9 |
|
Gains on Valts of Derivatives Assets |
- |
-0.6 |
- |
- |
- |
|
Gain-Valuation of Currency Swap |
- |
- |
- |
- |
-21.4 |
|
Gain-Valuation of Currency Futures |
- |
- |
- |
- |
-4.1 |
|
Miscellaneous Gain |
- |
- |
- |
-0.1 |
-0.2 |
|
L-For Curr Transactn |
- |
- |
- |
4.8 |
26.4 |
|
Loss-Foreign Currency Translation, Opt |
- |
0.6 |
1.6 |
- |
- |
|
Loss-Foreign Currency Translation, Fin. |
- |
162.7 |
44.6 |
- |
- |
|
Losses on Foreign Currency Translation |
2.0 |
- |
- |
1.2 |
167.1 |
|
Loss-Interest Rate Swaps Transactions |
- |
- |
- |
- |
1.3 |
|
Loss on Valt of Derivative Fincl Assets |
1.8 |
- |
1.9 |
- |
- |
|
Loss-Valuation of Currency Swap |
- |
- |
- |
6.7 |
0.0 |
|
Miscellaneous Loss |
- |
- |
0.0 |
0.5 |
0.2 |
|
Losses on Valt of Inventories |
- |
- |
- |
1.1 |
6.7 |
|
L-Trade Rcvbl. Disp. |
- |
- |
- |
- |
4.8 |
|
Loss on Sale of Intangibless |
0.2 |
- |
- |
- |
- |
|
Loss on Disposal of Property, Plant and |
1.2 |
2.1 |
0.9 |
0.6 |
13.8 |
|
Loss-Disposal of Other Fixed Assets |
- |
- |
- |
0.0 |
- |
|
Loss on Disposal of Financial Assets Ava |
0.1 |
0.1 |
0.4 |
1.8 |
0.4 |
|
Loss on Sale of Real Estate |
- |
0.5 |
0.2 |
- |
- |
|
Loss-Disposal of Sec under Equity Method |
- |
- |
- |
- |
1.0 |
|
Loss-Valuation of Tangible Assets |
- |
- |
- |
0.5 |
- |
|
Loss-Reduct. of Sec. Available-for-Sale |
- |
- |
- |
- |
5.1 |
|
Loss under Equity Method |
- |
- |
- |
0.7 |
1.2 |
|
Rec. of Losses on Valt of Inventories |
- |
- |
- |
-9.3 |
- |
|
Gain on Disposal of Property, Plant and |
-4.6 |
-4.4 |
-0.2 |
-7.3 |
-5.0 |
|
Gain-Disposal of LT Assets |
- |
- |
- |
-0.2 |
- |
|
Gain-Sale of Fincl Asset Avail.-for-Sale |
0.0 |
- |
- |
-0.4 |
- |
|
Gain-Disp. of Securities/Equity Method |
- |
- |
- |
-363.1 |
0.0 |
|
Gain under Equity Method |
-16.0 |
-22.6 |
-18.8 |
-63.9 |
-54.3 |
|
Adjustment for Added Expense w/o Cash Fl |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Deduction of Non-cash Income |
- |
0.0 |
0.0 |
- |
- |
|
Trade & Other Receviables |
484.3 |
- |
- |
- |
- |
|
Trade Receivables |
- |
-308.1 |
-538.4 |
191.4 |
-238.4 |
|
Other Receivables |
- |
-2.7 |
-1.4 |
2.6 |
-4.7 |
|
LT Trade Rcvbls. |
- |
- |
- |
0.8 |
-1.3 |
|
Accrued Income |
- |
- |
- |
-10.2 |
4.2 |
|
Inventory |
192.2 |
-249.8 |
-671.1 |
187.8 |
-474.9 |
|
Advance Payments |
- |
- |
- |
-1.6 |
-1.6 |
|
Prepaid Expenses |
- |
- |
- |
0.2 |
-0.2 |
|
Decrease in Prepaid Value Added Taxes |
- |
- |
- |
-19.8 |
0.0 |
|
Prepaid Taxes |
- |
- |
- |
-0.1 |
0.1 |
|
Other Current Assets |
10.8 |
-1.3 |
12.4 |
0.0 |
0.0 |
|
Other Current Fincl Assets |
-1.3 |
4.8 |
1.2 |
- |
- |
|
Other Non-Current Fiancial Assets |
-10.6 |
-24.2 |
-12.2 |
- |
- |
|
Other Non-Current Assets |
0.0 |
0.0 |
-0.2 |
- |
- |
|
Derivatives Transaction - Assets |
- |
- |
- |
- |
0.4 |
|
Trade & Other Payable |
176.7 |
- |
- |
- |
- |
|
Trade Payable |
- |
-209.1 |
258.2 |
-135.0 |
79.9 |
|
Other Payable |
- |
129.5 |
-425.0 |
470.9 |
281.7 |
|
Advances Received |
- |
- |
- |
-2.5 |
7.4 |
|
Deposit Withheld |
- |
- |
- |
-12.1 |
-1.3 |
|
Accrued Expense |
- |
- |
- |
18.2 |
5.8 |
|
Accrued Inc Tax |
- |
- |
- |
33.5 |
64.9 |
|
Other Current Liabilities |
26.9 |
-13.3 |
-5.5 |
- |
- |
|
Other Non-Current Fincl Liabilities |
-0.3 |
- |
-0.1 |
- |
- |
|
Guarantee Deposits |
- |
- |
- |
0.1 |
0.1 |
|
Deferred Taxes-Asset |
- |
- |
- |
-29.4 |
22.0 |
|
Deferred Taxes-Liab. |
- |
- |
- |
-171.4 |
-77.1 |
|
Deferred Income Tax Credit, Current, A/L |
- |
- |
- |
-0.1 |
- |
|
Payment for Retirement Allow. |
-7.9 |
- |
- |
-36.7 |
-27.6 |
|
Retm&Sevr Benf Liability |
- |
-108.1 |
-69.1 |
- |
- |
|
Deposits for Retirement Insurance |
- |
- |
- |
-13.5 |
-12.5 |
|
Nation Pension Fund |
- |
- |
- |
0.6 |
0.4 |
|
Overseas Business Translation Credit |
- |
- |
- |
- |
9.4 |
|
Plan Assets |
-10.4 |
- |
- |
- |
- |
|
LT Deposit Withheld |
- |
- |
- |
0.3 |
- |
|
Derivatives A/L |
4.6 |
4.9 |
- |
- |
- |
|
Cash-Interest Received |
58.0 |
74.0 |
74.9 |
- |
- |
|
Cash-Dividend Income |
18.6 |
12.5 |
13.9 |
- |
- |
|
Cash-Interest Paid |
-415.8 |
-344.8 |
-182.6 |
- |
- |
|
Cash-Tax Paid |
-113.1 |
-144.2 |
-263.7 |
- |
- |
|
Cash from Operating Activities |
1,924.2 |
723.6 |
-472.0 |
1,155.4 |
771.2 |
|
|
|
|
|
|
|
|
Dividend Income-Equity Method Affiliates |
- |
- |
- |
12.9 |
17.9 |
|
Disposal of Current Financial Instrument |
1,641.8 |
1,931.1 |
2,271.5 |
298.9 |
846.4 |
|
Decrease-LT Financial Assets |
- |
- |
- |
0.2 |
0.2 |
|
Sale of Other LT Finacial Instrm |
33.3 |
- |
0.2 |
- |
- |
|
Sale of Other Current Fincl Instruments |
0.0 |
- |
- |
- |
- |
|
Disposal-Securities under Equity Method |
- |
- |
- |
1,043.7 |
0.0 |
|
Disposal-Securities Available-for-Sale |
1.0 |
1.6 |
4.7 |
46.4 |
11.5 |
|
Disposal of Investment Properties |
- |
- |
0.1 |
- |
- |
|
Dec in ST Loans |
- |
- |
- |
1.0 |
1.6 |
|
Decrease in LT Loans |
- |
- |
- |
7.1 |
3.2 |
|
Decrease on Security Deposit |
- |
- |
- |
0.0 |
0.0 |
|
Decrease-Guarantee Deposit |
- |
- |
- |
0.1 |
1.7 |
|
Decrease-Other LT Assets |
- |
- |
- |
0.8 |
- |
|
Decrease-Government Subsidy |
- |
- |
- |
- |
0.0 |
|
Decrease-Other Enrollment Right |
- |
- |
- |
1.4 |
- |
|
Disposal of Intangible Assets |
0.7 |
0.4 |
- |
- |
- |
|
Disposal of Property, Plant and Equipmen |
15.6 |
9.3 |
0.7 |
15.2 |
12.0 |
|
Purchase of Current Fincl Instruments |
-1,401.0 |
-1,919.1 |
-1,672.7 |
-1,096.0 |
-587.5 |
|
Inc-LT Financail Assets |
- |
- |
- |
-0.2 |
-0.2 |
|
Purchase of Other Current Fincl Instrm |
0.0 |
- |
- |
- |
- |
|
Purchase of Other LT Finacial Instrm |
-26.7 |
-7.2 |
-0.2 |
- |
- |
|
Purchase of Sec. Available-for-Sale |
-6.5 |
-1.4 |
-1.4 |
-17.2 |
-20.6 |
|
Inc-Other Invt Ast |
- |
- |
- |
0.0 |
-0.6 |
|
Purchase of Invmt in Affiliates |
-21.9 |
-23.6 |
- |
- |
-19.3 |
|
Purchase of Real Estate |
- |
0.0 |
-5.5 |
- |
- |
|
Increase-ST Loans |
- |
- |
- |
-0.1 |
-0.9 |
|
Inc-LT Loans |
- |
- |
- |
-19.9 |
-5.2 |
|
Inc-Security Deposit |
- |
- |
- |
0.0 |
0.0 |
|
Inc-Guarantee Depos. |
- |
- |
- |
-13.9 |
-1.8 |
|
Increase-Government Subsidy |
- |
- |
- |
- |
0.1 |
|
Purchase of Tangibles |
-2,554.9 |
-1,640.2 |
-1,875.9 |
-2,861.8 |
-1,992.4 |
|
Acq Other Enroll Rgt |
- |
- |
- |
-2.5 |
-3.8 |
|
Purchase of Intangibless |
-33.6 |
-36.1 |
-0.6 |
0.0 |
-0.2 |
|
Cash from Investing Activities |
-2,352.3 |
-1,685.1 |
-1,279.0 |
-2,583.8 |
-1,737.8 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
3,155.8 |
2,701.9 |
2,909.0 |
1,509.7 |
1,988.8 |
|
Increase in Bonds |
883.8 |
1,176.2 |
559.6 |
257.4 |
597.4 |
|
Increase in Non-Current Borrowings |
1,389.4 |
363.2 |
611.2 |
1,048.9 |
1,063.4 |
|
Inc-Security Deposit |
- |
- |
- |
- |
1.6 |
|
Increase-Derevatives |
- |
- |
- |
- |
0.1 |
|
Proceeds from Sale of Treasury Stock |
- |
- |
- |
- |
0.0 |
|
Stock Options |
- |
- |
- |
- |
1.1 |
|
Decrease in Current Borrowings |
-3,887.9 |
-2,240.0 |
-1,582.3 |
-1,374.4 |
-2,021.6 |
|
Decrease in Non-Current Borrowings |
-53.2 |
- |
- |
- |
- |
|
Dec-Curr LT Liabs |
- |
- |
- |
-70.8 |
-38.2 |
|
Decs in Current Portion of LT Borrowings |
-789.6 |
-344.5 |
-104.6 |
- |
- |
|
Decrease in Current Portion of Bonds |
-328.3 |
-681.5 |
-449.7 |
-15.7 |
-147.4 |
|
Decrease-Derevatives |
- |
- |
- |
- |
-1.3 |
|
Decrease-Security Deposit |
- |
- |
- |
0.0 |
-1.9 |
|
Redemption-General Liability, Current |
- |
- |
- |
-6.1 |
-2.3 |
|
Dividend Paid |
-37.4 |
-38.0 |
-36.3 |
-32.8 |
-40.3 |
|
Acquis of Treas Stck |
- |
- |
- |
- |
-4.2 |
|
Cash from Financing Activities |
332.5 |
937.4 |
1,906.8 |
1,316.3 |
1,395.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.5 |
- |
- |
-0.6 |
- |
|
Incs or Decs in Cash & Cash Equivalents |
-96.0 |
-24.1 |
155.8 |
-112.6 |
428.4 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
875.9 |
915.0 |
720.9 |
785.9 |
483.1 |
|
Net Cash - Ending Balance |
779.9 |
890.9 |
876.7 |
673.2 |
911.5 |
|
Cash Interest Paid |
415.8 |
344.8 |
182.6 |
- |
- |
|
Cash Taxes Paid |
113.1 |
144.2 |
263.7 |
- |
- |
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.56.42 |
|
UK Pound |
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.