MIRA INFORM
REPORT
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Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
DAELIM INDUSTRIAL CO., LTD. |
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Registered Office : |
Daelim Bldg., 146-12, Susong-Dong, Jongno-Gu, Seoul, 110732 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
10.10.1939 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in the engineering and construction
business. |
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No. of Employees : |
5291 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
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
|
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.
|
Source : CIA |
Company name & address
Daelim Industrial Co., Ltd.
Daelim Bldg., 146-12, Susong-Dong, Jongno-Gu
Seoul, 110732
Korea, Republic of
Tel: 82-2-20117114
Fax: 82-2-20118000
Web: www.eng.daelim.co.kr
Other Address-Petrochemical
Division
10FL., KCCI Bldg., 45, Namdaemunno
4-ga, Jung-gu, Seoul, Korea
Synthesis
Employees: 5,291
Company Type: Public Parent
Corporate Family: 18
Companies
Traded: Korea
Stock Exchange: 000210
Incorporation Date:
10-Oct-1939
Auditor: Deloitte & Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales:
9,099.1 1
Net Income: 347.1
Total Assets: 10,321.1 2
Market Value:
2,834.5 (24-May-2013)
Business Description
Daelim Industrial Co., Ltd is a Korea-based company mainly engaged in the engineering and construction business. Along with its subsidiaries, the Company operates in three business divisions: construction division, including civil construction, architecture construction and plant construction, which engages in the construction of oil and gas plants, chemical plants, nuclear plants, power plants, dams, subways, ports, roads, bridges, apartments, commercial buildings and others, as well as overseas construction and remodeling works; manufacturing division, which mainly engages in the manufacture of petrochemical products, automobile parts, motorcycles and concrete piles, and other business division, which engages in the operation of resorts, golf courses, as well as leasing of real estate. For the three months ended 31 March 2013, Daelim Industrial Co., Ltd. revenues increased 23% to W2.516T. Net income applicable to common stockholders decreased 8% to W105.82B. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income was offset by Other Non-Operating Income decrease of 39% to W62.69B (income), Gain/Loss under Equity Method decrease of 75% to W10.15B (income).
Industry
Industry Construction Services
ANZSIC 2006: 3020 -
Non-Residential Building Construction
NACE 2002: 4521 - General
construction of buildings and civil engineering works
NAICS 2002: 23621 - Industrial
Building Construction
UK SIC 2003: 45212 -
Construction of domestic buildings
UK SIC 2007: 41202 -
Construction of domestic buildings
US SIC 1987: 1541 - General
Contractors-Industrial Buildings and Warehouses
Key Executives
|
Name |
Title |
|
Yun Kim |
Vice Chairman of the Board, Co-Chief Executive Officer |
|
Dong Su Kim |
Co-President |
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Han Jip Son |
Managing Director |
|
Dong-Soo Kim |
President/CEO-Civil Business |
|
Yong-Pyo Lee |
SVP Domestic Business Development |
Significant
Developments
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* number of significant developments within the last 12 months
Financial
Summary
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Stock
Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1066.4
Corporate Overview
Location
Daelim Bldg.
, 146-12, Susong-Dong, Jongno-Gu
Seoul, 110732
Korea, Republic of
Tel: 82-2-20117114
Fax: 82-2-20118000
Quote Symbol - Exchange
000210 - Korea
Stock Exchange
Sales KRW(mil): 10,253,347.0
Assets KRW(mil): 11,006,469.0
Employees: 5,291
Fiscal Year End: 31-Dec-2012
Industry: Construction
Services
Incorporation Date: 10-Oct-1939
Company Type: Public
Parent
Quoted Status: Quoted
Vice Chairman of
the Board, Co-Chief Executive Officer:
Yun Kim
Industry Codes
ANZSIC 2006 Codes:
3020 - Non-Residential Building Construction
3101 - Road and Bridge Construction
2034 - Concrete Product Manufacturing
9113 - Sports and Physical Recreation Venues, Grounds and
Facilities Operation
3109 - Other Heavy and Civil Engineering Construction
2399 - Other Transport Equipment Manufacturing Not Elsewhere
Classified
1812 - Basic Organic Chemical Manufacturing
4400 - Accommodation
3019 - Other Residential Building Construction
NACE 2002 Codes:
4521 - General construction of buildings and civil engineering
works
354 - Manufacture of motorcycles and bicycles
2666 - Manufacture of other articles of concrete, plaster and
cement
9261 - Operation of sports arenas and stadiums
2414 - Manufacture of other organic basic chemicals
5510 - Hotels
4523 - Construction of motorways, roads, railways, airfields and
sports facilities
NAICS 2002 Codes:
23621 - Industrial Building Construction
721110 - Hotels (except Casino Hotels) and Motels
236116 - New Multifamily Housing Construction (except Operative
Builders)
713910 - Golf Courses and Country Clubs
325199 - All Other Basic Organic Chemical Manufacturing
327390 - Other Concrete Product Manufacturing
336991 - Motorcycle, Bicycle, and Parts Manufacturing
237990 - Other Heavy and Civil Engineering Construction
237310 - Highway, Street, and Bridge Construction
US SIC 1987:
1541 - General Contractors-Industrial Buildings and Warehouses
7992 - Public Golf Courses
1629 - Heavy Construction, Not Elsewhere Classified
3272 - Concrete Products, Except Block and Brick
3751 - Motorcycles, Bicycles, and Parts
1522 - General Contractors-Residential Buildings, Other Than
Single-Family
7011 - Hotels and Motels
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
1622 - Bridge, Tunnel, and Elevated Highway Construction
1611 - Highway and Street Construction, Except Elevated Highways
UK SIC 2003:
45212 - Construction of domestic buildings
2666 - Manufacture of other articles of concrete, plaster and
cement
92619 - Operation of other sports arenas and stadiums not elsewhere
classified
2414 - Manufacture of other organic basic chemicals
5510 - Hotels
354 - Manufacture of motorcycles and bicycles
45213 - Construction of civil engineering constructions
4523 - Construction of motorways, roads, railways, airfields and
sports facilities
UK SIC 2007:
41202 - Construction of domestic buildings
2014 - Manufacture of other organic basic chemicals
5510 - Hotels and similar accommodation
4221 - Construction of utility projects for fluids
309 - Manufacture of transport equipment n.e.c.
2369 - Manufacture of other articles of concrete, plaster and
cement
9311 - Operation of sports facilities
4211 - Construction of roads and motorways
Business
Description
Daelim Industrial
Co., Ltd is a Korea-based company mainly engaged in the engineering and
construction business. Along with its subsidiaries, the Company operates in
three business divisions: construction division, including civil construction,
architecture construction and plant construction, which engages in the
construction of oil and gas plants, chemical plants, nuclear plants, power
plants, dams, subways, ports, roads, bridges, apartments, commercial buildings
and others, as well as overseas construction and remodeling works; manufacturing
division, which mainly engages in the manufacture of petrochemical products,
automobile parts, motorcycles and concrete piles, and other business division,
which engages in the operation of resorts, golf courses, as well as leasing of
real estate. For the three months ended 31 March 2013, Daelim Industrial Co.,
Ltd. revenues increased 23% to W2.516T. Net income applicable to common
stockholders decreased 8% to W105.82B. Revenues reflect an increase in demand
for the Company's products and services due to favorable market conditions. Net
income was offset by Other Non-Operating Income decrease of 39% to W62.69B
(income), Gain/Loss under Equity Method decrease of 75% to W10.15B (income).
More Business
Descriptions
Engineering and
general construction including plant, civil works, building and housing;
production and sales of primary petrochemical products including ethylene,
propylene, styrene monomer
Civil Engineering
Construction, Architectural Services & Production of Petrochemical Products
Daelim Industrial
Co., Ltd. (Daelim Industrial) is an Korea-based Engineering and Construction
(E&C) company. In addition to E&C, the company also focuses in the area
of Petrochemicals. The company principally operates in China, Indonesia, Iran,
Kuwait, Philippines, Republic of Korea, Saudi Arabia, United Arab Emirates,
United States, Vietnam. It employs more than 7910 people. The business
operations of the company are segmented into four divisions namely, building
and housing, civil works, Petrochemicals and plants division. The building and
Housing division constructs and develops building projects related to office,
apartment complexes, cultural, education facility, medical and sports facility,
redevelopment, remodeling projects and others. In 2011, the company completed
major building projects such as Garak Tower in Seocho-dong with a total floor
space of 54,538m², the remodeling of the headquarter building of Kyobo Life
Insurance with a total floor space of 95,244m², and the second research center
building of Amore Pacific with a total floor space of 25,654m². In the housing
sector, the company completed the apartment projects such as Yongsan Singye
(867 units),Gwonseon (780 units), South Daejeon (713 units), Yeokgok, (445
units), and Gwanggyo District 2 (442 units. This segment generated revenue of
$1931.93m which accounted for 31% of total revenue during the fiscal year end
2011. The civil works division constructs of expressway roads, airports,
airfields, bridges; railroads, subways, tunnel; dam, irrigation facilities, and
marine facilities. Some of the major completed projects in this segment related
to road include Dongmyeon-Jangan Road Project,Expressway No.10 Jinju-Masan
Expansion Project, related to railway include Subway Shin Bundang Line, Jeolla
Railway Modernization and Busan Subway Bansong Line Project. This segment
generated revenue of $1184.09m which accounted for 19% of total sales during
the fiscal year end 2011. The plants division designs, procures and constructs
of plants for chemical, petrochemical and refinery; energy; and nuclear
sectors. Some of its major accomplished projects related to Oil & Gas
include Tongyeong LNG Receiving Terminal Phase II 5th Extension Project,
related to Petroleum Refinery include Hyundai Oil Bank No.2 HOU project, related
to Chemical & Petrochemical includes Saudi Polymer Company NCP Polymer
Project and BASF-YPC IPS Expansion Project Amine Complex. This segment
generated revenue of $2056.57m which accounted for 33% of total revenue during
the fiscal year end 2011. The company's Petrochemicals offers an entire range
of products ranging from basic petrochemicals to highly functional, value-added
products. The company's major products are polyethylene, polybutene and
oriented polypropylene film. The company has two manufacturing plants located
at Yeosu, South Jeolla Province, Korea and Jeonju, Jeollabuk-do, Korea. The
company carries out its business activities through its three affiliates,
namely, Yeochun NCC Co., Ltd. (YNCC), PolyMirae Co., Ltd. (PCL) and KR
Copolymer Co., Ltd (KRC). YNCC is a joint venture between Hanwha Chemical Corp.
and Daelim B&Co Co., Ltd. It is one of largest Naphtha Cracking Centers of
Korea that produces a wide range of base materials such as propylene, toluene,
ethylene, xylene, butadiene and styrene monomer. The company through its
affiliate company, PCL, produces polypropylene. PCL has an annual production
capacity of 700,000 tons polypropylene. Other than polypropylene, PCL also
produces metallocene PP (marketed as Metocene) and block copolymers.The
petrochemicals manufactured by DPD are used in a wide area of applications. The
company manufactures polyethylene which is used by Daelim Industrial Co., Ltd.
(DICL) to produce wide variety of blow molding products from medium and
small-sized containers that are used for cosmetics, detergents, and foods to
large industrial containers, drums for chemicals, and median strips.DPD
manufactures polybutene based on its own patented technology. It manufactures
and supplies both conventional polybutene and high reactive polybutene.
Polybutene manufactured by the company is used in applications such as fuels,
lubricants, adhesives, caulk & sealants, gum base and electrical insulation
among others. For the fiscal year ended 2011, the company reported total revenue
of $1059.45m which accounted for 17% of total revenue during the fiscal year
end 2011. The company has several affiliate companies including Daelim
Corporation, Korea Development Corporation, Samho International Co., Ltd,
Daelim Motor Co., Ltd., Daelim I&S Co., Ltd. and Daelim Educational
Foundation. In July 2012, Daelim Industrial Co., Ltd. signed a contract with
Joint Venture of Saudi Aramco & Sumitomo Chemical to provide construction
service of Rabigh II CP-1 Project in Saudi Arabia. The contract will be worth
of KRW167152.3m In February 2012, Daelim Industrial Co., Ltd. signed a contract
with Korea East-West Power Co., Ltd. to supply power block of integrated power
generation. The contract amount is KRW 260,480m.
Daelim Industrial
Co., Ltd. (Daelim Industrial) carries out the engineering construction, and
petrochemical business in Korea. The company classifies its operation into four
business divisions,namely, building and housing, civil works, Petrochemicals
and plants division. The company undertakes construction projects such as
construction of office and commercial building; construction and remodeling of
apartments. The civil construction projects include roads, airports, bridges,
railways, subways, tunnels, airfields, harbors, dams, irrigation and marine
facility. It also constructs industrial plants such as oil and gas,
petrochemical, power and nuclear plants. It also carries out projects related
to distribution of petrochemical projects. The company operates in South Korea
and overseas countries such as China, Indonesia, Iran, Kuwait, Philippines,
Saudi Arabia, United Arab Emirates,United States,Vietnam through offices and
affiliate companies. Daelim Industrial is headquartered in Seoul, South
Korea.Recently the company expands its area of operation to Japan. In line with
strategy, Daelim Industrial Co., Ltd. signed a contract with Marubeni
Corporation (Japan) to provide construction service.The company reported
revenues of (Won) KRW 7,988,145.80 million during the fiscal year ended
December 2011, an increase of 7.40% over 2010. The operating profit of the
company was KRW 515,762.31 million during the fiscal year 2011, an increase of
65.02% over 2010. The net profit of the company was KRW 365,674.38 million
during the fiscal year 2011, an increase of 9.58% over 2010.
Other Heavy and Civil Engineering Construction
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Strategic Initiatives
Sales and
Distribution
Daelim’s
petrochemical business division-led sales growth by posting KRW1.3041 trillion in
sales, up 11% compared to 2011 due to the sales boost from high-margin
specialized products such as polybutene. Daelim plans to strengthen fundamental
competitiveness through the improvement of corporate structure, bolster its
unique global capabilities, and respond to changes in the domestic and
international environments proactively.Jan 22, 2013Daelim Installs Gas Turbine
And Gas Turbine Generator At Ulsan Combined Cycle Power Plant No. 4Daelim
Industrial Co. Ltd.
Strengths/Weaknesses
(SWOT)
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
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Corporate Family |
Corporate
Structure News: |
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Daelim
Industrial Co., Ltd. |
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Daelim Industrial Co., Ltd. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Seoul |
Korea, Republic of |
Construction Services |
9,099.1 |
5,291 |
|
|
Subsidiary |
Changwon, Kyoungnam |
Korea, Republic of |
Recreational Products |
|
800 |
|
|
Subsidiary |
Changwon-si, Gyeongsangnam-do |
Korea, Republic of |
Recreational Products |
314.6 |
473 |
|
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Subsidiary |
Seoul |
Korea, Republic of |
Computer Networks |
|
400 |
|
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Subsidiary |
Yongin |
Korea, Republic of |
Construction Services |
616.0 |
399 |
|
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Subsidiary |
Cheju |
Korea, Republic of |
Hotels and Motels |
|
350 |
|
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Subsidiary |
Seoul |
Korea, Republic of |
Chemical Manufacturing |
|
115 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Construction - Raw Materials |
|
50 |
|
|
Subsidiary |
Al Khobar, Dammam |
Saudi Arabia |
Engineering Consultants |
|
25 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Business Services |
|
5 |
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Subsidiary |
Singapore |
Singapore |
Oil and Gas Operations |
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5 |
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Subsidiary |
Kuala Lumpur |
Malaysia |
Engineering Consultants |
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4 |
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Subsidiary |
Jakarta, Selatan |
Indonesia |
Engineering Consultants |
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2 |
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Subsidiary |
Safat |
Kuwait |
Auto and Truck Parts |
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Subsidiary |
Seoul |
Korea, Republic of |
Construction - Raw Materials |
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Facility |
Yongin, Gyeonggi-do |
Korea, Republic of |
Construction - Supplies and Fixtures |
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Facility |
Gyeongnam |
Korea, Republic of |
Construction - Raw Materials |
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Facility |
Buyeo, Chungcheong Nam-do |
Korea, Republic of |
Construction - Raw Materials |
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Competitors Report
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Company
Name |
Location |
Employees |
Ownership |
|
Bechtel Corp |
San Francisco, California,
United States |
52,700 |
Private |
|
Daewoo Engineering &
Construction Co Ltd |
Seoul, Korea, Republic of |
6,146 |
Public |
|
Day & Zimmermann Inc |
Philadelphia, Pennsylvania, United
States |
24,000 |
Private |
|
GS Engineering &
Construction Corp. |
Seoul, Korea, Republic of |
6,775 |
Public |
|
Hyundai Engineering &
Construction Co. |
Seoul, Korea, Republic of |
7,343 |
Public |
|
KBR, Inc. |
Birmingham, Alabama, United
States |
9,000 |
Private |
|
Posco Engineering &
Construction Co.,Ltd |
Pohang, Korea, Republic of |
2,340 |
Private |
|
Samsung Engineering Co Ltd |
Seoul, Korea, Republic of |
7,438 |
Public |
|
Tetra Tech, Inc. |
Pasadena, California, United
States |
14,000 |
Public |
|
URS Corp |
San Francisco, California,
United States |
54,000 |
Public |
Executive report
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Board
of Directors |
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Honorary Chairman |
Chairman |
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Honorary Chairman |
Chairman |
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Vice Chairman of the Board, Co-Chief
Executive Officer |
Vice-Chairman |
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Co-Vice Chairman & CEO |
Vice-Chairman |
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Vice Chairman of the Board, Co-Chief
Executive Officer |
Vice-Chairman |
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Non-Executive Independent Director |
Director/Board Member |
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Co-President, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Co-President, Co-Chief Executive Officer,
Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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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 and Chief Executive of Civil
Business |
Chief Executive Officer |
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Chief Executive, Technology R&D |
Chief Executive Officer |
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President/CEO-Civil Business |
Chief Executive Officer |
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Vice Chairman of the Board, Co-Chief
Executive Officer |
Chief Executive Officer |
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Co-President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
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Co-President |
President |
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Co-President |
President |
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Co-President, Director |
President |
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Co-President |
President |
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Executive VP-Engineering Group |
Division Head Executive |
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Senior Executive Vice President, Plant
Business Planning Group |
Division Head Executive |
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Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
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Managing Director |
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Assistant Managing Director |
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Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Senior Vice President Operation Support,
Petrochemical Unit |
Operations Executive |
|
|
||||||||
|
Vice President Operational excellence |
Operations Executive |
|
|
||||||||
|
Vice President Safety & environment,
Quality management |
Environment/Safety Executive |
|
|
||||||||
|
SVP Civil Safety & Quality |
Environment/Safety Executive |
|
|
||||||||
|
SVP Power & Industrial |
Administration Executive |
|
|
||||||||
|
SVP Domestic Business |
Administration Executive |
|
|
||||||||
|
SVP Overseas Execution |
Administration Executive |
|
|
||||||||
|
SVP Overseas Civil Business |
Administration Executive |
|
|
||||||||
|
SVP Overseas Execution |
Administration Executive |
|
|
||||||||
|
Executive VP-Housing Business &
Investment Business |
Investment Executive |
|
|
||||||||
|
Vice President Housing Business,
investment Business, Collection management |
Investment Executive |
|
|
||||||||
|
Vice President Development &
investment |
Investment Executive |
|
|
||||||||
|
Vice President Human Resources |
Human Resources Executive |
|
|
||||||||
|
Senior Vice President HR Planning, HR
management, Global HR, HR development, General affairs, eSQ & Reserve
Forces |
Human Resources Executive |
|
|
||||||||
|
Executive VP-Overseas Civil Business |
International Executive |
|
|
||||||||
|
Vice President Overseas execution,
engineering |
International Executive |
|
|
||||||||
|
Vice President Overseas execution |
International Executive |
|
|
||||||||
|
Senior Vice President Overseas
Subcontracts,Plant Procurement,Plant Procurement management,inspection |
International Executive |
|
|
||||||||
|
Vice President Overseas Civil Business |
International Executive |
|
|
||||||||
|
Vice President Overseas execution |
International Executive |
|
|
||||||||
|
Vice President Overseas Civil Business |
International Executive |
|
|
||||||||
|
Vice President Overseas Civil Business |
International Executive |
|
|
||||||||
|
Vice President Overseas execution |
International Executive |
|
|
||||||||
|
Vice President Overseas execution |
International Executive |
|
|
||||||||
|
SVP Domestic Business Development |
Marketing Executive |
|
|
||||||||
|
Vice President Domestic Business, Civil
Design |
Marketing Executive |
|
|
||||||||
|
Vice President engineering |
Engineering/Technical Executive |
|
|
||||||||
|
Vice President Technology, Green, Cost
inovation |
Engineering/Technical Executive |
|
|
||||||||
|
Vice President Plant Business Development |
Business Development Executive |
|
|
||||||||
|
Vice President Plant Business Development |
Business Development Executive |
|
|
||||||||
|
Executive Vice President Commercial
Real-estate Development |
Commercial Executive |
|
|
||||||||
|
Vice President Plant Business
Planning,Power & industrial Business |
Planning Executive |
|
|
||||||||
|
Vice President Civil Planning,estimation
& Proposal |
Planning Executive |
|
|
||||||||
|
Vice President Corporate Planning |
Planning Executive |
|
|
||||||||
|
Executive Vice President architectural
Public Business &Strategy Business |
Planning Executive |
|
|
||||||||
|
Vice President Planning, market intelligence |
Planning Executive |
|
|
||||||||
|
EVP Business Strategy |
Planning Executive |
|
|
||||||||
|
Vice President Planning |
Planning Executive |
|
|
||||||||
|
Senior Vice President auditing & legal
affairs |
Legal Executive |
|
|
||||||||
|
Vice President Plant Project Conducting |
Manufacturing Executive |
|
|
||||||||
|
Executive Vice President Plant Q-HSe |
Manufacturing Executive |
|
|
||||||||
|
Vice President Subcontracts &
Procurement |
Purchasing Executive |
|
|
||||||||
|
Vice President Kuwait lPG Train-4 Site |
Other |
|
|
||||||||
|
Vice President R&D |
Other |
|
|
||||||||
|
Senior Vice President execution |
Other |
|
|
||||||||
|
Executive Vice President Redecelopment
Business |
Other |
|
|
||||||||
|
Senior Vice President architectural
electricity,HVaC& Plumbing |
Other |
|
|
||||||||
|
Senior Vice President |
Other |
|
|
||||||||
|
Executive Vice President |
Other |
|
|
||||||||
|
Vice President Saudi iK ePC Site |
Other |
|
|
||||||||
|
Vice President Saudi YeRP-4 Site |
Other |
|
|
||||||||
|
Vice President architectural Public
Business,Strategic Business |
Other |
|
|
||||||||
|
Vice President Philippines JG Summit Site |
Other |
|
|
||||||||
|
Vice President Tender, Cost estimation |
Other |
|
|
||||||||
|
Vice President Saudi YeRP-3 Site |
Other |
|
|
||||||||
|
Vice President execution |
Other |
|
|
||||||||
|
Vice President |
Other |
|
|
||||||||
Significant Developments
Daelim Industrial
Co Ltd Signs Contract with Kuwait National Petroleum Company May 29, 2013
Daelim Industrial
Co Ltd announced that it has signed a contract with Kuwait National Petroleum Company
to provide construction service for a sulphur handling facilities (revamp and
new) project. The contract amount is KRW 578,190,611,750.
Daelim Industrial
Co Ltd Signs Contract with Korea-based Housing Construction Association Mar 27,
2013
Daelim Industrial
Co Ltd announced that it has signed a contract with a Korea-based housing
construction association to provide construction service. The contract amount
is KRW 409,982,215,822.
Daelim Industrial
Co Ltd to Halt Production of Yeosu Plant for One Week Mar 15, 2013
Daelim Industrial
Co Ltd announced that it will close its Yeosu plant from March 15, 2013 to
March 21, 2013, due to the event of a disaster. The discontinued amount is KRW
387,192,640,799.
Daelim Industrial
Co Ltd Declares Annual Cash Dividend for FY 2012 Feb 07, 2013
Daelim Industrial
Co Ltd announced that it has declared its fiscal year 2012 annual cash dividend
of KRW 500 per share of common stock and KRW 550 per share of preferred stock,
to shareholders of record on December 31, 2012, for the fiscal year 2012. The
dividend rates of market prices are 0.59% (common shares) and 2.79% (preferred
shares), respectively. The total cash dividend amount is KRW 19,490 million and
the dividend payment date is April 11, 2013. The Company's annual cash dividend
for the fiscal year 2011 was KRW 100 per share of common stock and KRW 150 per
share of preferred stock.
Daelim Industrial
Co Ltd Issues FY 2013 Outlook Above Analysts' Estimates Jan 28, 2013
Daelim Industrial Co Ltd announced that it expects its fiscal year 2013 revenue and operating profit to record KRW 10,923 billion and KRW 583.4 billion, respectively. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of KRW 10,299.30 billion for the fiscal year 2013.
Daelim Industrial Co Ltd Signs Contract with San Ramon Power Inc. Dec 28, 2012
Daelim Industrial Co Ltd announced that it has signed a contract with San Ramon Power Inc. to provide coal-fired thermal power plant construction service. The contract amount is KRW 167,002,745,000.
Daelim Industrial Co Ltd Signs Contract with STX Electric Power Co., Ltd. Sep 25, 2012
Daelim Industrial Co Ltd announced that it has signed a contract with STX Electric Power Co., Ltd. to provide EPC (engineering, procurement and construction) service. The contract amount is KRW 477,772,403,976.
Daelim Industrial Co Ltd Signs Contract with Cantho Thermal Power Company Ltd. Aug 16, 2012
Daelim Industrial Co Ltd announced that it has signed a contract with Cantho Thermal Power Company Ltd. to provide construction service of O-Mon Thermal Power Plant Unit No.2 Project in O-Mon District, Cantho Province, Vietnam. The contract amount is KRW 321,569,093,731.
Daelim Industrial Co., Ltd. Signs Contract with Joint Venture of Saudi Aramco & Sumitomo Chemical Jul 19, 2012
Daelim Industrial Co., Ltd. announced that it has signed a contract with Joint Venture of Saudi Aramco & Sumitomo Chemical to provide construction service of Rabigh II CP-1 Project in Saudi Arabia. The Company will obtain KRW 167,152,256,000.
Daelim Industrial Co., Ltd. Amends Amount of Contract with Korea-based Company Jun 27, 2012
Daelim Industrial Co., Ltd. announced that it has made an amendment to the contract with a Korea-based company to build highway in Gyeongsangbuk Province, Korea, initially announced on December 22, 2006. Now, the contract amount has been amended to KRW 529,670,945,096 from KRW 440,621,766,235.
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 |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
9,099.1 |
7,210.2 |
6,432.3 |
5,857.3 |
6,978.3 |
|
Revenue |
9,099.1 |
7,210.2 |
6,432.3 |
5,857.3 |
6,978.3 |
|
Other Revenue |
- |
- |
- |
114.6 |
116.7 |
|
Other Revenue, Total |
- |
- |
- |
114.6 |
116.7 |
|
Total Revenue |
9,099.1 |
7,210.2 |
6,432.3 |
5,972.0 |
7,095.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
8,181.6 |
6,371.1 |
5,673.2 |
5,217.9 |
6,163.6 |
|
Cost of Revenue, Total |
8,181.6 |
6,371.1 |
5,673.2 |
5,217.9 |
6,163.6 |
|
Gross Profit |
917.6 |
839.1 |
759.2 |
639.5 |
814.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
303.6 |
267.8 |
262.1 |
244.3 |
478.2 |
|
Labor & Related Expense |
168.8 |
152.0 |
124.2 |
117.1 |
- |
|
Advertising Expense |
8.6 |
22.2 |
20.8 |
- |
- |
|
Total Selling/General/Administrative Expenses |
481.0 |
442.1 |
407.2 |
361.4 |
478.2 |
|
Interest Expense -
Operating |
5.3 |
2.2 |
16.7 |
- |
- |
|
Interest Expense - Net Operating |
5.3 |
2.2 |
16.7 |
- |
- |
|
Investment Income -
Operating |
- |
- |
-15.2 |
- |
- |
|
Interest/Investment Income - Operating |
- |
- |
-15.2 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
5.3 |
2.2 |
1.5 |
- |
- |
|
Impairment-Assets Held for Use |
- |
- |
27.5 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
2.6 |
- |
- |
|
Unusual Expense (Income) |
- |
- |
30.1 |
- |
- |
|
Other Operating Expense |
- |
- |
113.9 |
- |
- |
|
Other, Net |
- |
- |
-63.8 |
- |
- |
|
Other Operating Expenses, Total |
- |
- |
50.1 |
- |
- |
|
Total Operating Expense |
8,667.8 |
6,815.4 |
6,162.0 |
5,579.3 |
6,641.8 |
|
|
|
|
|
|
|
|
Operating Income |
431.3 |
394.9 |
270.3 |
392.7 |
453.2 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-78.2 |
-102.6 |
-90.1 |
-115.3 |
-116.6 |
|
Interest Capitalized -
Non-Operating |
7.8 |
7.7 |
- |
- |
- |
|
Interest Expense, Net Non-Operating |
-70.4 |
-94.9 |
-90.1 |
-115.3 |
-116.6 |
|
Interest Income -
Non-Operating |
56.8 |
65.4 |
68.6 |
32.6 |
25.5 |
|
Investment Income -
Non-Operating |
113.4 |
105.4 |
149.0 |
178.9 |
-110.1 |
|
Interest/Investment Income - Non-Operating |
170.2 |
170.8 |
217.5 |
211.6 |
-84.6 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
99.7 |
75.9 |
127.5 |
96.3 |
-201.3 |
|
Gain (Loss) on Sale of Assets |
-2.2 |
0.4 |
- |
-27.5 |
25.9 |
|
Other Non-Operating Income (Expense) |
-31.9 |
-2.3 |
- |
-100.5 |
-112.5 |
|
Other, Net |
-31.9 |
-2.3 |
- |
-100.5 |
-112.5 |
|
Income Before Tax |
497.0 |
468.9 |
397.8 |
361.1 |
165.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
141.3 |
126.0 |
88.2 |
75.6 |
52.2 |
|
Income After Tax |
355.7 |
342.8 |
309.6 |
285.5 |
113.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.6 |
-12.8 |
-21.0 |
-16.7 |
-15.2 |
|
Net Income Before Extraord Items |
347.1 |
330.1 |
288.6 |
268.9 |
98.0 |
|
Net Income |
347.1 |
330.1 |
288.6 |
268.9 |
98.0 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-34.3 |
-32.6 |
-28.6 |
-26.6 |
-9.8 |
|
Total Adjustments to Net Income |
-34.3 |
-32.6 |
-28.6 |
-26.6 |
-9.8 |
|
Income Available to Common Excl Extraord Items |
312.8 |
297.4 |
260.0 |
242.3 |
88.2 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
312.8 |
297.4 |
260.0 |
242.3 |
88.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
Basic EPS Excl Extraord Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
Basic/Primary EPS Incl Extraord Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
312.8 |
297.4 |
260.0 |
242.3 |
88.2 |
|
Diluted Weighted Average Shares |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
Diluted EPS Excl Extraord Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
Diluted EPS Incl Extraord Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
Dividends per Share - Common Stock Primary Issue |
0.44 |
0.09 |
0.09 |
0.08 |
0.00 |
|
Gross Dividends - Common Stock |
15.4 |
3.1 |
3.0 |
2.7 |
0.0 |
|
Interest Expense, Supplemental |
75.7 |
97.1 |
106.8 |
115.3 |
116.6 |
|
Interest Capitalized, Supplemental |
-7.8 |
-7.7 |
- |
- |
- |
|
Depreciation, Supplemental |
50.1 |
44.8 |
38.1 |
34.5 |
35.1 |
|
Total Special Items |
2.2 |
-0.4 |
30.1 |
29.3 |
-23.7 |
|
Normalized Income Before Tax |
499.2 |
468.5 |
427.9 |
390.4 |
141.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.6 |
-0.1 |
6.7 |
5.7 |
-8.2 |
|
Inc Tax Ex Impact of Sp Items |
142.0 |
125.9 |
94.9 |
81.3 |
44.0 |
|
Normalized Income After Tax |
357.2 |
342.6 |
333.0 |
309.1 |
97.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
314.3 |
297.2 |
283.5 |
265.8 |
72.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
9.03 |
8.54 |
8.15 |
7.64 |
2.09 |
|
Diluted Normalized EPS |
9.03 |
8.54 |
8.15 |
7.64 |
2.09 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
1.9 |
2.2 |
|
Amort of Intangibles, Supplemental |
4.6 |
4.2 |
3.8 |
3.2 |
3.8 |
|
Rental Expenses |
- |
- |
10.0 |
- |
- |
|
Advertising Expense, Supplemental |
8.6 |
22.2 |
20.8 |
- |
- |
|
Research & Development Exp, Supplemental |
- |
- |
- |
- |
8.0 |
|
Normalized EBIT |
436.6 |
397.1 |
301.9 |
392.7 |
453.2 |
|
Normalized EBITDA |
491.4 |
446.0 |
343.7 |
432.3 |
494.3 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1,384.8 |
1,150.2 |
1,128.4 |
1,030.3 |
474.7 |
|
Short Term Investments |
33.0 |
135.5 |
67.8 |
69.4 |
54.7 |
|
Cash and Short Term Investments |
1,417.8 |
1,285.7 |
1,196.2 |
1,099.7 |
529.3 |
|
Accounts Receivable -
Trade, Gross |
1,509.4 |
1,276.5 |
1,222.9 |
156.4 |
159.7 |
|
Provision for Doubtful
Accounts |
-324.2 |
-242.1 |
-148.5 |
-4.0 |
-3.6 |
|
Trade Accounts Receivable - Net |
2,520.3 |
2,074.9 |
1,886.1 |
162.3 |
168.8 |
|
Other Receivables |
1,147.2 |
1,102.0 |
875.2 |
2,285.5 |
2,164.5 |
|
Total Receivables, Net |
3,667.5 |
3,176.9 |
2,761.3 |
2,447.8 |
2,333.3 |
|
Inventories - Finished Goods |
345.4 |
405.8 |
402.0 |
49.9 |
98.2 |
|
Inventories - Work In Progress |
86.7 |
76.5 |
86.5 |
166.5 |
154.8 |
|
Inventories - Raw Materials |
579.8 |
656.0 |
536.1 |
656.5 |
827.7 |
|
Inventories - Other |
370.2 |
322.4 |
256.4 |
466.5 |
448.7 |
|
Total Inventory |
1,382.1 |
1,460.7 |
1,281.0 |
1,339.5 |
1,529.3 |
|
Prepaid Expenses |
204.2 |
192.6 |
205.9 |
187.3 |
197.8 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
43.1 |
38.8 |
|
Discontinued Operations - Current Asset |
122.3 |
80.6 |
221.1 |
- |
- |
|
Other Current Assets |
44.3 |
17.7 |
14.8 |
0.2 |
0.3 |
|
Other Current Assets, Total |
166.5 |
98.3 |
235.9 |
43.4 |
39.0 |
|
Total Current Assets |
6,838.0 |
6,214.3 |
5,680.4 |
5,117.6 |
4,628.7 |
|
|
|
|
|
|
|
|
Buildings |
422.6 |
391.2 |
386.4 |
684.7 |
499.7 |
|
Land/Improvements |
789.7 |
747.0 |
753.6 |
928.2 |
502.6 |
|
Machinery/Equipment |
420.5 |
374.7 |
312.5 |
265.6 |
194.8 |
|
Construction in
Progress |
120.8 |
179.8 |
23.7 |
6.8 |
39.3 |
|
Leases |
- |
- |
- |
3.8 |
3.7 |
|
Other
Property/Plant/Equipment |
148.9 |
129.4 |
127.2 |
128.6 |
119.2 |
|
Property/Plant/Equipment - Gross |
1,902.6 |
1,822.0 |
1,603.3 |
2,017.8 |
1,359.3 |
|
Accumulated Depreciation |
-479.8 |
-402.9 |
-382.0 |
-373.1 |
-334.0 |
|
Property/Plant/Equipment - Net |
1,422.7 |
1,419.2 |
1,221.3 |
1,646.0 |
1,025.6 |
|
Goodwill, Net |
36.3 |
33.6 |
34.1 |
33.3 |
13.2 |
|
Intangibles, Net |
38.0 |
32.9 |
36.3 |
19.4 |
18.3 |
|
LT Investment - Affiliate Companies |
604.2 |
577.4 |
704.1 |
558.0 |
226.1 |
|
LT Investments - Other |
374.6 |
352.1 |
393.2 |
476.6 |
847.0 |
|
Long Term Investments |
978.8 |
929.5 |
1,097.3 |
1,034.6 |
1,073.1 |
|
Note Receivable - Long Term |
882.6 |
622.2 |
464.5 |
299.9 |
176.5 |
|
Deferred Income Tax - Long Term Asset |
49.8 |
27.1 |
- |
2.0 |
- |
|
Other Long Term Assets |
74.8 |
65.6 |
51.2 |
101.1 |
177.3 |
|
Other Long Term Assets, Total |
124.6 |
92.7 |
51.2 |
103.1 |
177.3 |
|
Total Assets |
10,321.1 |
9,344.3 |
8,585.0 |
8,253.9 |
7,112.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,416.3 |
1,207.1 |
997.8 |
1,045.3 |
915.1 |
|
Accrued Expenses |
23.3 |
21.7 |
43.5 |
40.6 |
26.5 |
|
Notes Payable/Short Term Debt |
315.4 |
817.0 |
1,120.9 |
140.8 |
347.0 |
|
Current Portion - Long Term Debt/Capital Leases |
319.7 |
- |
- |
555.6 |
275.2 |
|
Dividends Payable |
- |
- |
- |
0.0 |
0.0 |
|
Customer Advances |
828.6 |
778.0 |
722.3 |
844.9 |
754.5 |
|
Income Taxes Payable |
72.4 |
81.2 |
52.8 |
29.1 |
52.1 |
|
Other Payables |
520.4 |
256.7 |
122.9 |
221.7 |
220.2 |
|
Discontinued Operations - Current Liability |
120.7 |
80.6 |
150.7 |
- |
- |
|
Other Current Liabilities |
864.3 |
793.9 |
543.2 |
82.5 |
25.9 |
|
Other Current liabilities, Total |
2,406.3 |
1,990.4 |
1,592.0 |
1,178.2 |
1,052.7 |
|
Total Current Liabilities |
4,481.0 |
4,036.2 |
3,754.2 |
2,960.5 |
2,616.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
775.1 |
907.5 |
542.4 |
1,296.3 |
1,296.7 |
|
Total Long Term Debt |
775.1 |
907.5 |
542.4 |
1,296.3 |
1,296.7 |
|
Total Debt |
1,410.1 |
1,724.5 |
1,663.2 |
1,992.7 |
1,918.8 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
80.0 |
63.5 |
93.3 |
191.4 |
66.7 |
|
Deferred Income Tax |
80.0 |
63.5 |
93.3 |
191.4 |
66.7 |
|
Minority Interest |
131.1 |
191.4 |
54.8 |
117.5 |
205.0 |
|
Reserves |
72.4 |
72.6 |
73.3 |
246.5 |
185.5 |
|
Pension Benefits - Underfunded |
29.0 |
27.8 |
15.5 |
30.5 |
36.4 |
|
Other Long Term Liabilities |
271.5 |
211.2 |
370.2 |
153.1 |
172.9 |
|
Other Liabilities, Total |
372.9 |
311.6 |
459.0 |
430.1 |
394.8 |
|
Total Liabilities |
5,840.0 |
5,510.2 |
4,903.7 |
4,995.7 |
4,579.6 |
|
|
|
|
|
|
|
|
Preferred Stock - Non Redeemable |
19.7 |
18.2 |
18.5 |
18.0 |
16.7 |
|
Preferred Stock - Non Redeemable, Net |
19.7 |
18.2 |
18.5 |
18.0 |
16.7 |
|
Common Stock |
185.2 |
171.4 |
174.0 |
169.6 |
156.8 |
|
Common Stock |
185.2 |
171.4 |
174.0 |
169.6 |
156.8 |
|
Additional Paid-In Capital |
383.1 |
359.6 |
387.2 |
1,153.7 |
1,098.0 |
|
Retained Earnings (Accumulated Deficit) |
3,755.3 |
3,145.4 |
2,887.3 |
1,485.6 |
1,104.2 |
|
Unrealized Gain (Loss) |
66.2 |
55.4 |
131.7 |
453.3 |
173.4 |
|
Translation Adjustment |
-20.6 |
-1.4 |
-4.1 |
-22.0 |
-15.9 |
|
Other Equity |
92.2 |
85.4 |
86.7 |
- |
- |
|
Other Equity, Total |
71.6 |
84.0 |
82.6 |
-22.0 |
-15.9 |
|
Total Equity |
4,481.1 |
3,834.1 |
3,681.3 |
3,258.2 |
2,533.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
10,321.1 |
9,344.3 |
8,585.0 |
8,253.9 |
7,112.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
Total Common Shares Outstanding |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Shares Outstanding - Preferred Stock Primary
Issue |
3.8 |
3.8 |
3.8 |
3.8 |
3.8 |
|
Total Preferred Stock Outstanding |
3.8 |
3.8 |
3.8 |
3.8 |
3.8 |
|
Treasury Shares - Preferred Primary Issue |
0.0 |
- |
- |
- |
- |
|
Employees |
- |
4,876 |
4,110 |
3,762 |
3,778 |
|
Number of Common Shareholders |
- |
- |
27,482 |
29,377 |
40,383 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
- |
7.2 |
- |
|
Accumulated Intangible Amort, Suppl. |
35.4 |
28.8 |
24.3 |
27.0 |
- |
|
Deferred Revenue - Current |
828.6 |
778.0 |
722.3 |
844.9 |
754.5 |
|
Total Long Term Debt, Supplemental |
1,096.7 |
1,319.7 |
- |
1,696.1 |
1,577.0 |
|
Long Term Debt Maturing within 1 Year |
319.7 |
407.5 |
- |
358.7 |
276.0 |
|
Long Term Debt Maturing in Year 2 |
393.3 |
593.6 |
- |
504.7 |
414.1 |
|
Long Term Debt Maturing in Year 3 |
163.3 |
120.6 |
- |
530.1 |
726.0 |
|
Long Term Debt Maturing in Year 4 |
12.2 |
11.7 |
- |
261.6 |
8.8 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
- |
137.5 |
|
Long Term Debt Maturing in 2-3 Years |
556.6 |
714.2 |
- |
1,034.8 |
1,140.1 |
|
Long Term Debt Maturing in 4-5 Years |
12.2 |
11.7 |
- |
261.6 |
146.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
208.3 |
186.3 |
- |
41.0 |
14.5 |
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 |
Reclassified
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 |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
355.7 |
342.8 |
309.6 |
285.5 |
113.2 |
|
Depreciation |
50.7 |
45.4 |
38.1 |
34.5 |
35.1 |
|
Depreciation/Depletion |
50.7 |
45.4 |
38.1 |
34.5 |
35.1 |
|
Amortization of Intangibles |
4.6 |
4.2 |
3.8 |
5.1 |
6.0 |
|
Amortization |
4.6 |
4.2 |
3.8 |
5.1 |
6.0 |
|
Deferred Taxes |
- |
- |
- |
24.3 |
-42.8 |
|
Unusual Items |
-1.8 |
-69.0 |
18.7 |
10.0 |
-63.9 |
|
Equity in Net Earnings (Loss) |
-39.7 |
-34.4 |
-150.9 |
-113.9 |
82.0 |
|
Other Non-Cash Items |
321.8 |
312.0 |
295.6 |
105.4 |
300.3 |
|
Non-Cash Items |
280.3 |
208.6 |
163.3 |
1.6 |
318.5 |
|
Accounts Receivable |
-364.8 |
-863.6 |
-185.1 |
-379.2 |
-701.8 |
|
Inventories |
185.5 |
187.9 |
215.1 |
215.0 |
-299.9 |
|
Prepaid Expenses |
4.3 |
7.6 |
-8.1 |
-12.3 |
-45.2 |
|
Other Assets |
3.4 |
1.5 |
25.7 |
25.5 |
12.1 |
|
Accounts Payable |
325.5 |
362.2 |
-68.9 |
202.9 |
34.9 |
|
Accrued Expenses |
-1.1 |
-10.1 |
-0.1 |
13.2 |
14.2 |
|
Taxes Payable |
- |
- |
- |
-99.9 |
-140.0 |
|
Other Liabilities |
-103.6 |
199.3 |
91.8 |
-38.7 |
412.4 |
|
Other Assets & Liabilities, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Operating Cash Flow |
-48.5 |
-33.5 |
-65.5 |
5.1 |
117.5 |
|
Changes in Working Capital |
0.7 |
-148.7 |
4.9 |
-68.3 |
-595.9 |
|
Cash from Operating Activities |
692.0 |
452.4 |
519.7 |
282.6 |
-165.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-138.2 |
-272.6 |
-84.0 |
-78.1 |
-79.4 |
|
Purchase/Acquisition of Intangibles |
-8.7 |
-2.9 |
-9.8 |
-2.5 |
-3.6 |
|
Capital Expenditures |
-146.9 |
-275.5 |
-93.8 |
-80.6 |
-83.0 |
|
Sale of Business |
-0.9 |
- |
- |
-53.9 |
18.2 |
|
Sale of Fixed Assets |
1.4 |
2.3 |
3.6 |
91.1 |
24.3 |
|
Sale/Maturity of Investment |
186.7 |
287.2 |
165.5 |
465.0 |
93.4 |
|
Purchase of Investments |
-140.2 |
-346.3 |
-234.6 |
-334.8 |
-196.7 |
|
Sale of Intangible Assets |
0.5 |
- |
0.0 |
- |
0.0 |
|
Other Investing Cash Flow |
-162.8 |
-251.4 |
-218.2 |
-145.9 |
-146.8 |
|
Other Investing Cash Flow Items, Total |
-115.4 |
-308.1 |
-283.7 |
21.5 |
-207.5 |
|
Cash from Investing Activities |
-262.3 |
-583.6 |
-377.5 |
-59.1 |
-290.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-465.0 |
-512.2 |
-348.9 |
-221.5 |
-282.2 |
|
Financing Cash Flow Items |
-465.0 |
-512.2 |
-348.9 |
-221.5 |
-282.2 |
|
Total Cash Dividends Paid |
-16.7 |
-17.8 |
-20.4 |
-4.3 |
-91.9 |
|
Sale/Issuance of
Common |
- |
119.0 |
-2.6 |
- |
- |
|
Repurchase/Retirement
of Common |
0.0 |
- |
0.0 |
-0.1 |
-1.0 |
|
Common Stock, Net |
0.0 |
119.0 |
-2.7 |
-0.1 |
-1.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
119.0 |
-2.7 |
-0.1 |
-1.0 |
|
Short Term Debt Issued |
2,362.6 |
2,758.4 |
1,787.4 |
132.0 |
2,204.1 |
|
Short Term Debt
Reduction |
-2,769.4 |
-3,186.6 |
-1,331.1 |
-193.9 |
-1,957.1 |
|
Short Term Debt, Net |
-406.8 |
-428.2 |
456.3 |
-61.9 |
246.9 |
|
Long Term Debt Issued |
594.4 |
1,010.4 |
59.8 |
647.6 |
1,014.0 |
|
Long Term Debt
Reduction |
- |
- |
-211.9 |
-112.1 |
-3.5 |
|
Long Term Debt, Net |
594.4 |
1,010.4 |
-152.1 |
535.5 |
1,010.6 |
|
Issuance (Retirement) of Debt, Net |
187.6 |
582.2 |
304.2 |
473.6 |
1,257.5 |
|
Cash from Financing Activities |
-294.1 |
171.2 |
-67.8 |
247.8 |
882.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.0 |
0.0 |
-2.1 |
- |
- |
|
Net Change in Cash |
134.6 |
40.1 |
72.2 |
471.4 |
426.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,175.9 |
1,155.9 |
1,035.3 |
468.7 |
117.5 |
|
Net Cash - Ending Balance |
1,310.5 |
1,196.0 |
1,107.5 |
940.1 |
543.6 |
|
Cash Interest Paid |
73.9 |
103.4 |
92.9 |
- |
- |
|
Cash Taxes Paid |
167.4 |
129.4 |
79.0 |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
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 |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Revenues-Construction |
- |
- |
- |
4,534.0 |
5,628.1 |
|
Real Estate Sales |
- |
- |
- |
483.0 |
242.7 |
|
Finished Products |
- |
- |
- |
840.3 |
1,107.5 |
|
Other Revenues |
- |
- |
- |
114.6 |
116.7 |
|
Sales Revenue |
9,099.1 |
7,210.2 |
6,432.3 |
- |
- |
|
Total Revenue |
9,099.1 |
7,210.2 |
6,432.3 |
5,972.0 |
7,095.0 |
|
|
|
|
|
|
|
|
Cost of Construction |
- |
- |
- |
4,006.5 |
4,922.4 |
|
Cost of RE Sales |
- |
- |
- |
388.2 |
166.5 |
|
Cost of Finished Goods Sold |
- |
- |
- |
700.2 |
968.6 |
|
Cost of Other Goods Sold |
- |
- |
- |
122.9 |
106.1 |
|
Costs of Goods & Services Sold |
8,181.6 |
6,371.1 |
5,673.2 |
- |
- |
|
Selling&General Administrative Expense |
- |
- |
- |
- |
478.2 |
|
Salaries & Wages |
140.4 |
129.7 |
107.3 |
88.8 |
- |
|
Retirement & Severance Benefits |
7.2 |
3.5 |
- |
13.8 |
- |
|
Employee Benefits |
21.2 |
18.8 |
17.0 |
14.5 |
- |
|
Adjustment for ESGA |
- |
- |
- |
0.0 |
- |
|
Commissions Expense |
91.8 |
96.0 |
105.0 |
80.1 |
- |
|
Warranty Exp. of Construction Contracts |
- |
- |
- |
7.1 |
- |
|
Expense of Allow. for DA |
60.3 |
28.6 |
28.0 |
11.0 |
- |
|
Insurance Expense |
8.2 |
8.5 |
4.7 |
- |
- |
|
Defective Repair Expense |
0.8 |
3.3 |
6.1 |
- |
- |
|
Shipping & Handling Expense |
55.4 |
47.2 |
44.5 |
31.4 |
- |
|
Advertising Expense |
8.6 |
22.2 |
20.8 |
- |
- |
|
Interest Expense |
5.3 |
2.2 |
16.7 |
- |
- |
|
Property Rent Expense |
12.4 |
14.5 |
10.0 |
- |
- |
|
Other Administrative Expense |
74.7 |
69.7 |
- |
- |
- |
|
Other Selling & Administrative Expense |
- |
- |
63.8 |
114.6 |
- |
|
Adj. for Other Selling & Admin. Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Dividend Income |
- |
- |
-0.5 |
- |
- |
|
Rental Income |
- |
- |
-0.5 |
- |
- |
|
Gain on Foreign Currency Translation |
- |
- |
-7.3 |
- |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-13.3 |
- |
- |
|
Gain on Disposal of PPT |
- |
- |
-0.7 |
- |
- |
|
Gain on Disposal of Invmt Assets |
- |
- |
-14.4 |
- |
- |
|
Gain on Derivative Transaction |
- |
- |
-30.5 |
- |
- |
|
Gain on Valt of Derivatives |
- |
- |
-8.9 |
- |
- |
|
Rec. of Resv for Others |
- |
- |
-10.0 |
- |
- |
|
Rec. of Fincl Guarantee Resv |
- |
- |
-11.7 |
- |
- |
|
Rec. of Prov. for Defect Repai |
- |
- |
-2.0 |
- |
- |
|
Other Operating Income |
- |
- |
-39.3 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Other Allow. for DA |
- |
- |
44.1 |
- |
- |
|
Loss on Foreign Currency Translation |
- |
- |
6.2 |
- |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
22.4 |
- |
- |
|
Loss on Disposal of PPT |
- |
- |
3.3 |
- |
- |
|
Impmt Loss on Assets |
- |
- |
27.5 |
- |
- |
|
Loss on Disposal of Invmt in Real Estate |
- |
- |
1.0 |
- |
- |
|
Loss on Disposal of Invmt Assets |
- |
- |
2.6 |
- |
- |
|
Loss on Derivative Transaction |
- |
- |
7.7 |
- |
- |
|
Loss on Valt of Derivatives |
- |
- |
19.4 |
- |
- |
|
Prov. for Fincl Guarantee Resv |
- |
- |
46.5 |
- |
- |
|
Provisison for Others |
- |
- |
1.3 |
- |
- |
|
Donations Paid |
- |
- |
4.2 |
- |
- |
|
Other Operating Expense |
- |
- |
17.7 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
8,667.8 |
6,815.4 |
6,162.0 |
5,579.3 |
6,641.8 |
|
|
|
|
|
|
|
|
Interest Income |
56.8 |
65.4 |
68.6 |
32.6 |
25.5 |
|
Dividend Income |
1.1 |
0.7 |
- |
0.9 |
3.4 |
|
Rental Income |
1.4 |
1.3 |
- |
0.6 |
0.9 |
|
Miscellaneous Income |
- |
- |
- |
44.7 |
42.5 |
|
Recovery-Investment Sec. Reduction Loss |
- |
- |
- |
2.9 |
1.4 |
|
Other Rec. of Prov.s |
1.1 |
1.3 |
- |
21.9 |
0.4 |
|
Rec. of Finance Guarantee Deposit |
0.4 |
22.1 |
- |
- |
- |
|
Rec. of Defect Repair Resv |
1.4 |
6.2 |
- |
- |
- |
|
Rev Error Adj Allow |
- |
- |
- |
0.1 |
0.1 |
|
Gains on Debt Restructuring |
- |
- |
- |
40.4 |
- |
|
Gain on Foreign Currency Transaction |
54.8 |
43.6 |
- |
- |
- |
|
Gain on Foreign Currency Transaction-FI |
27.5 |
16.3 |
6.2 |
48.7 |
108.6 |
|
Gain on Foreign Currency Translation |
5.0 |
4.8 |
- |
- |
- |
|
Gain on Foreign Currency Translation-FI |
0.6 |
1.0 |
1.8 |
20.2 |
20.3 |
|
Gain on Derivatives Transaction |
44.7 |
27.1 |
- |
- |
- |
|
Gain on Derivatives Transaction-FI |
0.2 |
1.8 |
4.9 |
10.4 |
8.2 |
|
Gain on Valt of Derivatives |
45.7 |
9.9 |
- |
- |
- |
|
Gain on Valuations of Derivatives |
- |
0.9 |
1.2 |
7.8 |
51.7 |
|
Gain-Valuation of Contracts-Settlement |
- |
- |
- |
7.5 |
40.0 |
|
Gain on Disposal of Invmt Assets |
18.2 |
86.6 |
- |
69.0 |
10.9 |
|
Gain on Disposal of Real Estate |
0.5 |
2.3 |
- |
- |
- |
|
Gain on Disposal of PPE |
0.5 |
1.1 |
- |
2.4 |
26.5 |
|
Interest Expense |
-78.2 |
-102.6 |
-90.1 |
-115.3 |
-116.6 |
|
Interest Capitalized |
7.8 |
7.7 |
- |
- |
- |
|
Other Allow. for DA |
-32.9 |
-58.8 |
- |
-38.3 |
-25.6 |
|
Provisison for Others |
-11.4 |
-2.8 |
- |
-84.5 |
-92.4 |
|
Provision-Defective Repair Reserve |
- |
- |
- |
- |
-0.7 |
|
Resv for Fincl Guarantee |
-2.3 |
-21.2 |
- |
- |
- |
|
Donations Paid |
-10.5 |
-2.2 |
- |
-4.1 |
-3.5 |
|
Miscellaneous Losses |
- |
- |
- |
-41.0 |
-30.0 |
|
Loss-Valuation of Confirmed Contracts |
- |
- |
- |
-2.7 |
-5.5 |
|
Loss on Foreign Currency Transaction |
-51.7 |
-33.6 |
- |
- |
- |
|
Loss on Foreign Currency Transaction-FE |
-19.0 |
-14.3 |
-2.3 |
-45.5 |
-45.9 |
|
Loss on Foreign Currency Translation |
-14.3 |
-3.5 |
- |
- |
- |
|
Loss on Foreign Currency Translation-FE |
-1.2 |
-1.0 |
-2.2 |
-14.1 |
-90.2 |
|
Loss on Valt of Derivatives |
-8.3 |
-25.2 |
- |
- |
- |
|
Loss on Valt of Derivatives-FE |
- |
0.0 |
-2.5 |
-17.3 |
-67.7 |
|
Loss on Derivative Transaction |
-17.0 |
-26.4 |
- |
- |
- |
|
Loss on Derivative Transaction-FE |
- |
-6.3 |
-9.0 |
-6.5 |
-59.7 |
|
Loss-Reduction of Tangible Assets |
- |
- |
- |
-39.3 |
-5.2 |
|
Impmt Loss of Assets |
-12.3 |
-12.8 |
- |
- |
- |
|
Loss on Disposal of Invmt Assets |
-0.8 |
-1.0 |
- |
-17.0 |
-2.2 |
|
Amort-Overseas Business Translation |
- |
- |
- |
- |
-0.3 |
|
Loss on Disposal of PPE |
-2.6 |
-0.8 |
- |
-29.9 |
-0.6 |
|
Loss on Disposal of Intangibless |
0.0 |
- |
- |
- |
- |
|
Loss on Disposal of Real Estate |
- |
0.0 |
- |
- |
- |
|
Gain under Equity Method |
- |
- |
- |
122.2 |
9.9 |
|
Loss under Equity Method |
- |
- |
- |
-8.3 |
-91.9 |
|
Gain/Loss under Equity Method |
39.7 |
34.4 |
150.9 |
- |
- |
|
Adj. for Finance Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Finance Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Others in Other Income |
63.0 |
65.4 |
- |
- |
- |
|
Adj. for Other Non-Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Others in Other Expense |
-42.2 |
-13.7 |
- |
- |
- |
|
Adj. for Other Non-Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
497.0 |
468.9 |
397.8 |
361.1 |
165.4 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
141.3 |
126.0 |
88.2 |
75.6 |
52.2 |
|
Net Income After Taxes |
355.7 |
342.8 |
309.6 |
285.5 |
113.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.6 |
-12.8 |
-21.0 |
-16.7 |
-15.2 |
|
Net Income Before Extra. Items |
347.1 |
330.1 |
288.6 |
268.9 |
98.0 |
|
Net Income |
347.1 |
330.1 |
288.6 |
268.9 |
98.0 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-1.9 |
-0.5 |
-0.5 |
-26.6 |
-9.8 |
|
Participated Preferred Dividend |
-32.5 |
-32.1 |
-28.1 |
- |
- |
|
Income Available to Com Excl ExtraOrd |
312.8 |
297.4 |
260.0 |
242.3 |
88.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
312.8 |
297.4 |
260.0 |
242.3 |
88.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
Basic EPS Including ExtraOrdinary Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
312.8 |
297.4 |
260.0 |
242.3 |
88.2 |
|
Diluted Weighted Average Share |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
Diluted EPS Excluding ExtraOrd Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
Diluted EPS Including ExtraOrd Items |
8.99 |
8.55 |
7.47 |
6.96 |
2.53 |
|
DPS-Common Stock |
0.44 |
0.09 |
0.09 |
0.08 |
0.00 |
|
Gross Dividends - Common Stock |
15.4 |
3.1 |
3.0 |
2.7 |
0.0 |
|
Normalized Income Before Taxes |
499.2 |
468.5 |
427.9 |
390.4 |
141.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
142.0 |
125.9 |
94.9 |
81.3 |
44.0 |
|
Normalized Income After Taxes |
357.2 |
342.6 |
333.0 |
309.1 |
97.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
314.3 |
297.2 |
283.5 |
265.8 |
72.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
9.03 |
8.54 |
8.15 |
7.64 |
2.09 |
|
Diluted Normalized EPS |
9.03 |
8.54 |
8.15 |
7.64 |
2.09 |
|
Research & Development Exp |
- |
- |
- |
- |
8.0 |
|
Advertising Expense, Supplemental |
8.6 |
22.2 |
20.8 |
- |
- |
|
Rental Expense, Supplemental |
- |
- |
10.0 |
- |
- |
|
Interest Expense, Supplemental |
75.7 |
97.1 |
106.8 |
115.3 |
116.6 |
|
Interest Capitalized, Supplemental |
-7.8 |
-7.7 |
- |
- |
- |
|
Amort of Intangibles, Suppleme |
4.6 |
4.2 |
3.8 |
3.2 |
3.8 |
|
Amort. of Acquisition Cost |
- |
- |
- |
1.9 |
2.2 |
|
Depreciation, Supplemental |
50.1 |
44.8 |
38.1 |
34.5 |
35.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
1,384.8 |
1,150.2 |
1,128.4 |
1,030.4 |
474.7 |
|
Government Subsidy, Cash & Cash Equiv. |
- |
- |
- |
-0.1 |
- |
|
Current Fincl Instrm |
33.0 |
135.5 |
67.8 |
69.4 |
17.1 |
|
Securities for Sale |
0.0 |
0.0 |
0.0 |
0.0 |
37.6 |
|
Other Receivable from Constructions |
1,241.8 |
979.3 |
1,002.3 |
- |
- |
|
Allow. for DA for Construction Recv. |
-316.0 |
-234.1 |
-142.7 |
- |
- |
|
Other Receivable from Real Estate Sale |
1.4 |
1.7 |
16.1 |
- |
- |
|
Allow. for DA-Recv. fr Real-estate Sales |
-1.4 |
-1.3 |
-1.3 |
- |
- |
|
Other Trade Receivable, Gross |
266.3 |
295.5 |
204.5 |
- |
- |
|
Allow. for Other Trade Receivable |
-6.8 |
-6.8 |
-4.5 |
- |
- |
|
Trade Rcvb Gross |
- |
- |
- |
156.4 |
159.7 |
|
Disc. for PV |
- |
- |
- |
- |
0.0 |
|
Allow. for DA for Trade Receivable |
- |
- |
- |
-4.0 |
-3.6 |
|
Receivables from Construction Contracts |
- |
- |
- |
1,625.1 |
1,692.6 |
|
Receivables from Real-estate Sales |
- |
- |
- |
231.6 |
51.6 |
|
Current Loans |
402.8 |
301.2 |
291.8 |
170.4 |
160.6 |
|
Account Receivable |
744.4 |
800.8 |
583.4 |
258.2 |
259.7 |
|
Receivable-Recovery of Taxes |
- |
- |
- |
0.3 |
- |
|
Advance Payments |
299.3 |
264.3 |
205.8 |
408.6 |
406.2 |
|
Accrued Income |
49.9 |
43.9 |
20.6 |
9.9 |
12.7 |
|
Unbilled Constructions |
1,285.2 |
996.5 |
791.1 |
- |
- |
|
Prepaid Expense |
27.6 |
31.5 |
29.8 |
32.5 |
40.7 |
|
Prepaid Expense from Constructions |
173.8 |
160.0 |
175.5 |
154.8 |
157.1 |
|
Current Tax Assets |
2.8 |
1.1 |
0.6 |
- |
- |
|
Other Quick Assets |
4.3 |
5.3 |
0.3 |
0.2 |
0.3 |
|
Current Derivative Assets |
39.9 |
12.4 |
14.5 |
- |
- |
|
Dfrd Taxes |
- |
- |
- |
43.1 |
38.8 |
|
Finished Residential Units, Current |
265.9 |
338.8 |
335.6 |
2.8 |
55.5 |
|
Unfinished Residential Units |
77.9 |
67.4 |
77.5 |
158.2 |
147.4 |
|
Supplies |
68.6 |
48.2 |
41.3 |
32.8 |
37.6 |
|
Lots |
535.1 |
599.3 |
491.2 |
620.4 |
780.3 |
|
Merchandises |
2.0 |
2.0 |
1.8 |
1.5 |
0.9 |
|
Finished Goods |
77.5 |
65.0 |
64.6 |
45.7 |
41.8 |
|
Work in Progress |
8.9 |
9.1 |
9.0 |
8.3 |
7.4 |
|
Raw Materials |
43.2 |
45.7 |
44.0 |
34.6 |
45.7 |
|
Raw Materials for Construction |
1.5 |
10.9 |
1.0 |
1.5 |
1.7 |
|
Goods in Transit |
2.3 |
10.0 |
9.3 |
25.2 |
4.9 |
|
Adj. for Trade & Other Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Inventories |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Current Assets Held for Sale |
122.3 |
80.6 |
221.1 |
- |
- |
|
Total Current Assets |
6,838.0 |
6,214.3 |
5,680.4 |
5,117.6 |
4,628.7 |
|
|
|
|
|
|
|
|
Non-Current Fincl Instrm |
15.4 |
14.1 |
45.4 |
17.0 |
9.1 |
|
Non-Current Securities Available-for-Sal |
246.3 |
233.0 |
238.5 |
444.6 |
837.9 |
|
Other Non-Current Invmt Assets |
- |
- |
0.3 |
22.6 |
- |
|
Accumulated Impairment Loss for Other I |
- |
- |
- |
-7.6 |
- |
|
Non-Current Loans |
716.9 |
564.0 |
444.3 |
297.2 |
169.6 |
|
Long-term Trade Receivables |
- |
- |
- |
- |
0.0 |
|
LT Other Receivable from Constructions |
160.3 |
55.9 |
18.4 |
- |
- |
|
Non-Current Other Trade Receibables |
1.5 |
0.2 |
- |
- |
- |
|
Non-Current Other Receivable |
3.9 |
2.0 |
1.8 |
2.7 |
6.8 |
|
Invmt in Affiliates & JV |
604.2 |
577.4 |
704.1 |
- |
- |
|
Affiliates Stock |
- |
- |
- |
558.0 |
226.1 |
|
Guarantee Deposits, Non-Current Assets |
70.5 |
52.3 |
43.6 |
57.2 |
81.6 |
|
Non-Current Prepaid Expense |
0.0 |
12.6 |
4.0 |
0.2 |
0.2 |
|
Contracts on Settlement Assets |
- |
- |
- |
6.6 |
24.4 |
|
Non-Current Derivatives Assets |
4.3 |
0.7 |
3.6 |
37.1 |
44.6 |
|
Other LT Assets |
- |
- |
- |
- |
26.4 |
|
Non-Current Deferred Income Taxes Assets |
49.8 |
27.1 |
- |
2.0 |
- |
|
Land for Lease Properties |
- |
- |
- |
1.2 |
0.4 |
|
Leased Residential Units |
- |
- |
- |
3.8 |
3.7 |
|
Invmt in Properties |
112.9 |
105.0 |
109.0 |
- |
- |
|
Lands |
789.7 |
748.5 |
755.0 |
928.2 |
511.7 |
|
Lands-Reduction |
- |
-1.4 |
-1.5 |
- |
-9.0 |
|
Buildings(1) |
- |
- |
- |
732.4 |
522.4 |
|
Buildings and Structures Depre. |
- |
- |
- |
-97.6 |
-82.4 |
|
Buildings and Structures Reduction |
- |
- |
- |
-47.3 |
-22.4 |
|
Buildings & Structures-Gvnmt Subsidies |
- |
- |
- |
-0.3 |
-0.3 |
|
Buildings |
357.6 |
331.6 |
328.9 |
- |
- |
|
Buildings-Depreciation |
-92.5 |
-77.6 |
-69.9 |
- |
- |
|
Buildings-Government Subsidy |
-0.3 |
-0.3 |
-0.3 |
- |
- |
|
Structures |
65.4 |
59.9 |
57.8 |
- |
- |
|
Structures-Depreciation |
-23.6 |
-19.5 |
-17.9 |
- |
- |
|
Machineries & Equipments |
407.5 |
365.1 |
303.1 |
265.7 |
194.9 |
|
Machineries & Equipments-Depreciation |
-240.5 |
-202.1 |
-192.8 |
-179.3 |
-162.4 |
|
Machineries & Equipments-Govern. Subsidy |
-0.8 |
-1.0 |
-0.1 |
-0.1 |
-0.1 |
|
Vehicles |
13.8 |
10.6 |
9.5 |
- |
- |
|
Vehicles-Depreciation |
-9.2 |
-7.4 |
-6.5 |
- |
- |
|
Construction in Progress |
120.8 |
179.8 |
23.7 |
6.8 |
39.3 |
|
Other Property Plant & Equipment |
149.0 |
129.4 |
127.2 |
128.6 |
119.2 |
|
Other Tangible Assets-Depreciation |
-114.0 |
-96.2 |
-94.9 |
-96.2 |
-89.2 |
|
Other Tangibles-Government Subsidy |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Goodwill |
36.3 |
33.6 |
34.1 |
33.3 |
13.2 |
|
Software |
8.7 |
3.2 |
3.0 |
- |
- |
|
Industrial Property Rights |
0.2 |
0.2 |
0.1 |
- |
- |
|
Membership Rights |
17.1 |
17.4 |
18.5 |
- |
- |
|
Parking Fees Rt |
- |
- |
- |
0.4 |
0.4 |
|
Usufruct-Lease & Rental Fees |
- |
- |
- |
10.8 |
11.0 |
|
Development Costs |
3.6 |
3.0 |
3.6 |
4.9 |
3.1 |
|
Government Subsidy for Development Costs |
- |
- |
- |
-0.8 |
- |
|
Other Intangibless |
8.3 |
9.1 |
11.0 |
4.1 |
3.9 |
|
Adj. for LT Trade & Other Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
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 Assets |
- |
0.0 |
0.0 |
- |
- |
|
Total Assets |
10,321.1 |
9,344.3 |
8,585.0 |
8,253.9 |
7,112.8 |
|
|
|
|
|
|
|
|
Current Trade Payable |
1,416.3 |
1,207.1 |
997.8 |
1,045.3 |
915.1 |
|
Overbilled Constructions |
742.6 |
674.7 |
430.3 |
- |
- |
|
Other Payable |
520.4 |
256.7 |
122.9 |
221.7 |
220.2 |
|
Advance from Customers, Current |
827.2 |
778.0 |
722.3 |
844.8 |
729.1 |
|
Advance-Real Estate Sales |
- |
- |
- |
0.1 |
25.4 |
|
Unearned Income |
1.4 |
- |
- |
- |
- |
|
Accrued Expense |
22.3 |
21.4 |
42.8 |
40.6 |
26.5 |
|
Value Added Taxes Withheld |
1.0 |
0.3 |
0.7 |
- |
- |
|
Dividend Payable |
- |
- |
- |
0.0 |
0.0 |
|
Income Taxes Payable |
72.4 |
81.2 |
52.8 |
29.1 |
52.1 |
|
Current Borrowings |
315.4 |
- |
- |
74.1 |
347.0 |
|
Other ST Borrowings |
- |
- |
- |
66.7 |
- |
|
Current Portion of LT Debt Discount on B |
- |
- |
- |
-0.6 |
- |
|
Current Portion of Long-term Borrowings |
158.4 |
- |
- |
358.7 |
275.2 |
|
Current Portion of Long-term Bonds |
161.3 |
- |
- |
197.5 |
- |
|
ST Borrowing & Current Port. of LT Liab. |
- |
817.0 |
1,120.9 |
- |
- |
|
Current Portion of Discount on Convertib |
- |
- |
- |
-0.1 |
- |
|
Prov. for Other Estimated Liability |
38.7 |
17.2 |
2.6 |
1.2 |
0.8 |
|
Withheld |
74.3 |
72.5 |
96.2 |
80.9 |
22.5 |
|
Other Current Liabilities |
- |
- |
- |
0.4 |
2.6 |
|
Current Derivatives Liabilities |
8.7 |
29.4 |
14.2 |
- |
- |
|
Adj. for ST Borrowing & Current Port. of |
0.0 |
- |
- |
- |
- |
|
Adj. for Current Trade & Other Payable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Current Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Current Liabilities Held for Sale |
120.7 |
80.6 |
150.7 |
- |
- |
|
Total Current Liabilities |
4,481.0 |
4,036.2 |
3,754.2 |
2,960.5 |
2,616.5 |
|
|
|
|
|
|
|
|
Bonds |
- |
- |
- |
850.5 |
1,102.4 |
|
Long-term Borrowings |
- |
- |
- |
388.2 |
194.3 |
|
Disc. on Bonds of LT Liabilities |
- |
- |
- |
-2.3 |
- |
|
Present Value Discount on Bonds of Long- |
- |
- |
- |
-23.2 |
- |
|
Present Value Discount for Long-term Bor |
- |
- |
- |
-15.6 |
- |
|
Other LT Borrowings |
- |
- |
- |
98.7 |
- |
|
LT Borrowings & Bonds |
775.1 |
907.5 |
542.4 |
- |
- |
|
Total Long Term Debt |
775.1 |
907.5 |
542.4 |
1,296.3 |
1,296.7 |
|
|
|
|
|
|
|
|
Non-Current Derivatives Liabilities |
1.2 |
5.6 |
9.1 |
13.7 |
49.1 |
|
LT Trade Account Payable |
- |
- |
- |
8.6 |
8.4 |
|
Non-Current Trade Payable |
25.2 |
10.0 |
20.6 |
- |
- |
|
Non-Current Other Payable |
0.6 |
0.4 |
0.6 |
- |
- |
|
Non-Current Accrued Expense |
- |
- |
0.2 |
- |
- |
|
Rental Guarantee Deposit, LT Liabilities |
195.8 |
108.3 |
136.7 |
128.3 |
110.9 |
|
Non-Current Fincl Deposits Liabilities |
48.6 |
86.9 |
203.0 |
- |
- |
|
Advance on Confirmed Contracts Liability |
- |
- |
- |
1.7 |
3.2 |
|
Error Adj. Prov. |
- |
- |
- |
50.6 |
56.3 |
|
Reserve-Restoring |
- |
- |
- |
0.7 |
1.0 |
|
Rsv-Constructn L |
- |
- |
- |
18.0 |
18.9 |
|
Resv for Defective Guarantees |
68.2 |
69.0 |
70.8 |
- |
- |
|
Deferred Income Taxes, LT Liabilities |
80.0 |
63.5 |
93.3 |
191.4 |
66.7 |
|
Retirement & Severance Benefits, Non-Cur |
29.0 |
27.8 |
15.5 |
77.7 |
36.4 |
|
Plan Assets |
- |
- |
- |
-35.8 |
- |
|
Transfer to National Pension Fund |
- |
- |
- |
-0.3 |
- |
|
Deposit-Retirement Insurance |
- |
- |
- |
-11.1 |
- |
|
Other LT Liabilities |
- |
- |
- |
0.9 |
1.3 |
|
Reserve for Delayed Service Penalty |
- |
- |
- |
177.2 |
109.3 |
|
Other Non-Current Prov.s |
4.2 |
3.6 |
2.5 |
- |
- |
|
Adj. for LT Trade & Other Payable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Minority Interests |
131.1 |
191.4 |
54.8 |
117.5 |
205.0 |
|
Total Liabilities |
5,840.0 |
5,510.2 |
4,903.7 |
4,995.7 |
4,579.6 |
|
|
|
|
|
|
|
|
Common Stock |
185.2 |
171.4 |
174.0 |
169.6 |
156.8 |
|
Preferred Stock |
19.7 |
18.2 |
18.5 |
18.0 |
16.7 |
|
Additional Paid in Capital |
277.6 |
257.0 |
260.9 |
- |
- |
|
Gain on Mergers |
136.0 |
125.9 |
127.8 |
- |
- |
|
Consolidated Capital Surplus |
- |
- |
- |
1,153.7 |
1,098.0 |
|
Other in Other Paid-in Capital |
-30.5 |
-23.3 |
-1.5 |
- |
- |
|
Gain/Losses on Valuation of Securities A |
32.9 |
31.9 |
35.7 |
99.1 |
180.2 |
|
Gain/Losses on Valt of Sec. Sold |
0.1 |
- |
71.6 |
- |
- |
|
Gains on Tangible Assets Revaluation |
- |
- |
- |
329.3 |
- |
|
Retained Earnings |
3,755.3 |
3,145.4 |
2,887.3 |
1,485.6 |
1,104.2 |
|
Overseas Bus. Translation Debit/Credit |
-20.6 |
-1.4 |
-4.1 |
-22.0 |
-15.9 |
|
Valuation of Derivatives |
- |
- |
- |
-0.1 |
-0.5 |
|
Losses on Valuation of Available for Sal |
- |
- |
- |
-0.7 |
- |
|
Losses on Valuation of Equity Method Sec |
- |
- |
- |
-0.6 |
-0.5 |
|
Capital Change, Equity Method (Loss) |
-0.2 |
0.0 |
0.0 |
- |
-5.8 |
|
Capital Change, Equity Method |
33.4 |
23.6 |
24.6 |
26.3 |
- |
|
Gains on Disposal of Treasury Stock |
92.2 |
85.4 |
86.7 |
- |
- |
|
Adj. for Other Paid-in Capital |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Capital Items |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Equity |
4,481.1 |
3,834.1 |
3,681.3 |
3,258.2 |
2,533.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
10,321.1 |
9,344.3 |
8,585.0 |
8,253.9 |
7,112.8 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
Total Common Shares Outstanding |
34.8 |
34.8 |
34.8 |
34.8 |
34.8 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
S/O-Preferred Stock |
3.8 |
3.8 |
3.8 |
3.8 |
3.8 |
|
Total Preferred Shares Outstanding |
3.8 |
3.8 |
3.8 |
3.8 |
3.8 |
|
T/S-Preferred Stock |
0.0 |
- |
- |
- |
- |
|
Deferred Revenue, Current |
828.6 |
778.0 |
722.3 |
844.9 |
754.5 |
|
Accumulated Goodwill Amortization |
- |
- |
- |
7.2 |
- |
|
Accumulated Intangible Amrot. |
35.4 |
28.8 |
24.3 |
27.0 |
- |
|
Full-Time Employees |
- |
4,876 |
4,110 |
3,762 |
3,778 |
|
Number of Common Shareholders |
- |
- |
27,482 |
29,377 |
40,383 |
|
LT Debt 1 yr |
319.7 |
407.5 |
- |
358.7 |
276.0 |
|
LT Debt 2 yrs |
393.3 |
593.6 |
- |
504.7 |
414.1 |
|
LT Debt 3 yrs |
163.3 |
120.6 |
- |
530.1 |
726.0 |
|
LT Debt 4 yrs |
12.2 |
11.7 |
- |
261.6 |
8.8 |
|
LT Debt 5 yrs |
- |
- |
- |
- |
137.5 |
|
LT Debt thereafter |
208.3 |
186.3 |
- |
41.0 |
14.5 |
|
Total Long Term Debt, Supplemental |
1,096.7 |
1,319.7 |
- |
1,696.1 |
1,577.0 |
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 |
Updated Normal |
Restated Normal |
Reclassified
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 |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
355.7 |
342.8 |
309.6 |
285.5 |
113.2 |
|
Depreciation |
50.7 |
45.4 |
38.1 |
34.5 |
35.1 |
|
Amort. of Intangibless |
4.6 |
4.2 |
3.8 |
5.1 |
6.0 |
|
Payment for Retirement Allow., ONCI |
28.3 |
22.1 |
18.5 |
25.0 |
43.6 |
|
Expense of Allow. for DA |
60.3 |
28.6 |
28.0 |
11.0 |
36.2 |
|
Expenses of Allow. for Other DA |
32.9 |
58.8 |
44.1 |
38.3 |
25.6 |
|
Miscellaneous Loss |
0.1 |
0.3 |
0.3 |
3.2 |
12.2 |
|
Incs in Fincl Guarantee Liabilities |
2.3 |
21.2 |
46.5 |
- |
- |
|
Provision-Penalty for Delayed Services |
- |
- |
- |
- |
92.4 |
|
Prov.for Construction Warranties |
- |
- |
- |
14.9 |
- |
|
Prov. for Defect Repair |
18.1 |
17.9 |
15.0 |
- |
- |
|
PV Disc. For Other Expense |
10.6 |
- |
- |
- |
- |
|
Reserve for Construction Loss |
- |
9.1 |
50.1 |
10.1 |
19.9 |
|
Other Prov.s |
39.2 |
17.7 |
6.0 |
65.0 |
- |
|
Corporate Taxes Expense |
141.3 |
126.0 |
88.2 |
- |
- |
|
Interest Expenses |
77.7 |
99.4 |
90.1 |
8.5 |
3.2 |
|
Losses on Foreign Currency Translation |
15.5 |
4.5 |
8.4 |
14.1 |
79.1 |
|
Loss on Valt of Derivative Fincl Assets |
8.3 |
25.2 |
22.0 |
17.3 |
67.7 |
|
Losses on Valt of Inventories |
0.4 |
3.5 |
0.1 |
- |
- |
|
Loss on Depletion of Inventory |
0.0 |
- |
- |
- |
- |
|
Loss on Sale of Inventory |
0.0 |
- |
- |
- |
- |
|
Loss-Valuation of Contract on Settlement |
- |
- |
- |
2.7 |
5.5 |
|
Losses on Disposal of Investment Assets |
0.8 |
1.0 |
2.6 |
17.0 |
2.2 |
|
Loss on Disposal of Trade Receivables |
0.0 |
0.1 |
0.0 |
- |
- |
|
Loss on Disposal of Property, Plant and |
2.6 |
0.8 |
3.3 |
29.9 |
0.6 |
|
Loss on Sale of Intangibless |
0.0 |
- |
- |
- |
- |
|
Loss on Disposal of Investment Propertie |
- |
0.0 |
1.0 |
- |
- |
|
Loss on Sale of Other Non-Current Assets |
0.2 |
- |
- |
- |
- |
|
Loss on Scraping of Inventory |
0.5 |
0.6 |
0.7 |
- |
- |
|
Impmt Loss on Assets |
12.3 |
12.8 |
27.5 |
39.3 |
5.2 |
|
Loss under Equity Method |
34.8 |
89.6 |
34.1 |
8.3 |
91.9 |
|
Interest Income |
-56.8 |
-65.4 |
-68.6 |
-0.3 |
-0.2 |
|
Gains on Foreign Currency Translation |
-5.6 |
-5.9 |
-9.2 |
-20.2 |
-19.5 |
|
Rec. of Prov.for Construction Warranties |
-1.4 |
-6.2 |
-2.0 |
-4.3 |
-4.2 |
|
Rec. of Fincl Guarantee Liabilities |
-0.4 |
-22.1 |
-11.7 |
- |
- |
|
Rec. of Reserve for Construction Loss |
- |
- |
-10.7 |
-11.0 |
- |
|
Recovery-Defect Repair Reserve |
- |
- |
- |
- |
-0.1 |
|
Rec. of Impmt Loss-Sec. Held-to-Maturity |
0.0 |
- |
- |
- |
- |
|
Rec. of Other Prov.s |
-1.1 |
-1.3 |
-10.0 |
-9.7 |
- |
|
Rec. of Losses on Valt of Inventories |
- |
- |
-0.4 |
- |
- |
|
Recovery-Sec. Avail-for-Sale Reduction |
- |
- |
- |
-2.9 |
-1.4 |
|
Miscellaneous Gain |
-0.4 |
-4.4 |
0.0 |
-5.3 |
-2.6 |
|
Dividend Income |
-1.1 |
-0.7 |
-0.5 |
- |
- |
|
Gain-Debt Adjustment |
- |
- |
- |
-40.4 |
- |
|
Gains on Valts of Derivatives Assets |
-45.7 |
-10.8 |
-10.1 |
-7.8 |
-51.7 |
|
Gain-Valuation of Contract on Settlement |
- |
- |
- |
-7.5 |
-40.0 |
|
Gain on Disposal of Investment Assets |
-18.2 |
-86.6 |
-14.4 |
-69.0 |
-10.9 |
|
Gain on Disposal of Property, Plant and |
-0.5 |
-1.1 |
-0.7 |
-2.4 |
-26.5 |
|
Gain on Sale of Real Estate |
-0.5 |
-2.3 |
- |
- |
- |
|
Gain under Equity Method |
-74.5 |
-124.0 |
-185.0 |
-122.2 |
-9.9 |
|
Trade Receivables |
-87.1 |
-144.0 |
4.9 |
7.0 |
-9.5 |
|
Non-Current Trade Receivables |
-112.2 |
-39.2 |
-14.6 |
-0.1 |
0.3 |
|
Account Receivables |
45.8 |
-466.2 |
-343.5 |
-18.1 |
-45.8 |
|
LT Account Receivables |
1.6 |
- |
- |
1.9 |
1.8 |
|
Construction Rcvbl |
- |
- |
- |
- |
-648.7 |
|
Decrease or Increase in Receivables from |
- |
- |
- |
-245.5 |
- |
|
Land Sale Rcvbl |
- |
- |
- |
-123.9 |
4.7 |
|
Accrued Income |
-0.1 |
-0.6 |
-0.7 |
0.2 |
-4.7 |
|
Corporate Tax Refundable |
- |
- |
- |
-0.6 |
- |
|
Unbilled Constructions |
-212.8 |
-213.6 |
168.7 |
- |
- |
|
Advance Payments |
-14.6 |
-63.1 |
0.5 |
-3.7 |
-157.1 |
|
Inventory |
200.1 |
251.0 |
214.6 |
218.7 |
-142.8 |
|
Prepaid Expenses |
5.1 |
-5.6 |
3.6 |
9.0 |
1.1 |
|
Non-Current Prepaid Expenses |
0.0 |
0.1 |
- |
0.1 |
0.0 |
|
Prepaid Construction Expense |
-0.8 |
13.1 |
-11.7 |
-21.3 |
-46.3 |
|
Other Quick Assets |
- |
-5.4 |
0.0 |
0.0 |
0.0 |
|
Increase in Guarantee Deposit |
-13.8 |
-8.9 |
0.8 |
- |
- |
|
Derivative Assets |
17.2 |
15.8 |
24.9 |
- |
- |
|
Contracts on Settlement Assets |
- |
- |
- |
25.5 |
12.1 |
|
Deferred Income Tax Debit, Current |
- |
- |
- |
26.4 |
40.1 |
|
Current Dfrd Taxes-Liab. |
- |
- |
- |
0.0 |
-0.2 |
|
Deferred Taxes-Liability |
- |
- |
- |
-2.1 |
-82.7 |
|
Trade Payable |
81.8 |
225.2 |
18.3 |
185.8 |
82.5 |
|
Other Payable |
230.0 |
147.6 |
-98.7 |
17.6 |
-49.2 |
|
Non-Current Trade Payable |
13.6 |
-10.7 |
11.5 |
-0.5 |
1.6 |
|
Accrued Income Taxes |
- |
- |
- |
-99.9 |
-140.0 |
|
Accrued Expenses |
-1.1 |
-10.1 |
-0.1 |
13.2 |
14.2 |
|
Overbilled Constructions |
6.2 |
257.9 |
-195.7 |
- |
- |
|
Advance on Confirmed Contracts Liability |
- |
- |
- |
-4.3 |
-4.3 |
|
Rental Guarantee Depsits |
74.6 |
-28.1 |
31.9 |
-38.4 |
62.6 |
|
Advance from Customers |
-13.4 |
45.7 |
305.6 |
13.7 |
352.6 |
|
RE Advance Received |
- |
- |
- |
-19.3 |
21.0 |
|
Withholdings |
-3.2 |
-22.2 |
-1.5 |
56.1 |
-12.4 |
|
Fincl Guarantee Liabilities |
-3.5 |
- |
1.3 |
- |
- |
|
Other Current Liabilities |
- |
- |
- |
- |
-0.2 |
|
Other Liabilities |
- |
0.0 |
1.8 |
0.0 |
0.8 |
|
Prov.for Construction Loss |
-38.5 |
- |
0.0 |
- |
10.1 |
|
Prov. for Defect Repair |
-22.5 |
-12.1 |
-11.4 |
- |
5.6 |
|
Plan Assets |
-18.1 |
-13.5 |
-9.7 |
-13.4 |
-22.3 |
|
National Pension |
- |
- |
- |
0.1 |
0.1 |
|
Other Prov.s |
- |
-6.9 |
-3.4 |
-1.3 |
-6.2 |
|
Current Prov.s |
-14.3 |
- |
- |
- |
- |
|
Non-Current Prov.s |
-0.2 |
- |
- |
- |
- |
|
Payment for Retirement Allow. |
-18.3 |
-14.4 |
-19.9 |
-23.6 |
-36.1 |
|
Retirement Insurance Reserves |
- |
- |
- |
6.2 |
17.8 |
|
Unearned Income |
1.0 |
- |
- |
- |
- |
|
Provisions for Defect Repair A/L |
- |
- |
- |
-8.8 |
- |
|
Increase or Decrease in Provisions for R |
- |
- |
- |
-0.3 |
- |
|
Overseas Business Translation Credit |
-18.8 |
5.6 |
-4.3 |
-5.3 |
23.3 |
|
Derivative Liabilities |
-34.7 |
-12.6 |
-3.0 |
- |
- |
|
Adj. for Operating Activities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Change in Assets & Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Cash-Interest Received |
54.0 |
43.2 |
63.0 |
- |
- |
|
Cash-Interest Paid |
-73.9 |
-103.4 |
-92.9 |
- |
- |
|
Cash-Dividend Income |
138.7 |
156.1 |
43.4 |
5.1 |
117.5 |
|
Cash-Tax Paid |
-167.4 |
-129.4 |
-79.0 |
- |
- |
|
Cash from Operating Activities |
692.0 |
452.4 |
519.7 |
282.6 |
-165.9 |
|
|
|
|
|
|
|
|
Disposal of Current Financial Instrument |
175.8 |
270.2 |
143.3 |
41.6 |
34.3 |
|
Disposal of Non-Current Financial Assets |
- |
- |
0.5 |
69.5 |
0.2 |
|
Dec-Derivatives Trade |
- |
- |
- |
18.0 |
4.8 |
|
Disposal of Other Investment Assets |
- |
- |
0.2 |
3.5 |
- |
|
Disposal of Securities Available-for-Sal |
10.2 |
13.0 |
11.9 |
331.9 |
46.9 |
|
Disposal of Investment in Affiliates |
- |
- |
3.9 |
- |
- |
|
Disposal-Securities under Equity Method |
- |
- |
- |
0.6 |
7.3 |
|
Disposal of Non-Current Assets Held for |
1.1 |
65.8 |
25.5 |
- |
- |
|
Disposal in Current Loans |
109.9 |
151.6 |
197.9 |
254.4 |
167.8 |
|
Decrease in Non-Current Loans |
171.8 |
505.5 |
320.0 |
107.8 |
123.4 |
|
Dec-Guarantee Deposits |
- |
- |
- |
37.1 |
25.5 |
|
Sale of Other Quick Assets |
1.9 |
- |
- |
- |
- |
|
Decrease-Other Assets |
- |
- |
- |
- |
0.3 |
|
Decrease in Guarantee Deposit |
0.3 |
- |
- |
- |
- |
|
Increase in Government Subsidy |
0.1 |
- |
- |
- |
- |
|
Increase in Liabilities Held for Sale |
32.9 |
- |
- |
- |
- |
|
Disposal of Investment Properties |
0.7 |
4.1 |
5.6 |
- |
- |
|
Disposal of Land |
0.9 |
0.0 |
2.6 |
81.5 |
13.3 |
|
Disposal of Buildings |
- |
0.0 |
0.2 |
- |
- |
|
Disposal of Structures |
- |
0.8 |
0.0 |
- |
- |
|
Disposal of Vehicles |
0.1 |
0.3 |
0.1 |
- |
- |
|
Disposal of Building |
- |
- |
- |
3.5 |
7.9 |
|
Disposal of Machinery |
0.1 |
0.5 |
0.1 |
1.2 |
2.2 |
|
Disposal of Other Tangible Assets |
0.3 |
0.7 |
0.6 |
0.1 |
1.0 |
|
Disposal-Construction in Progress |
- |
- |
- |
4.9 |
- |
|
Sale of Intangibless |
0.5 |
- |
0.0 |
- |
- |
|
Disposal-Other Intangible Assets |
- |
- |
- |
- |
0.0 |
|
Disposal-Business Segment |
- |
- |
- |
- |
18.2 |
|
Purchase of Current Fincl Instruments |
-91.2 |
-291.7 |
-167.0 |
-93.3 |
-41.3 |
|
Inc-Derivatives Trade |
- |
- |
- |
-52.9 |
-15.4 |
|
Purchase of Non-Current Fincl Assets |
-0.1 |
-18.1 |
-44.3 |
-76.4 |
-10.2 |
|
Purchase of Current Sec. Avail.-for-Sale |
- |
-0.2 |
- |
- |
- |
|
Purchase of Sec. Available-for-Sale |
-48.1 |
-27.2 |
-22.8 |
-34.7 |
-120.2 |
|
Purchase of Other Invmt Assets |
-0.2 |
-9.0 |
- |
-0.1 |
- |
|
Purchase of Invmt in Affiliates |
-0.7 |
- |
-0.3 |
- |
- |
|
Purchase of Equity Method Sec. |
- |
- |
- |
-77.5 |
-9.7 |
|
Increase in Current Loans |
-196.2 |
-336.9 |
-441.7 |
-340.0 |
-93.1 |
|
Increase in Non-Current Loans |
-284.1 |
-637.5 |
-319.9 |
-189.7 |
-314.0 |
|
Increase-Other Assets |
- |
- |
- |
- |
-1.1 |
|
Increase in Guarantee Deposit |
-0.5 |
- |
- |
-15.6 |
-55.5 |
|
Purchase of Real Estate |
- |
- |
0.0 |
- |
- |
|
Purchase of Land |
-0.2 |
-4.8 |
-11.5 |
-5.4 |
-7.0 |
|
Purchase of Buildings |
-0.5 |
-0.6 |
-5.3 |
- |
- |
|
Purchase of Structures |
-0.7 |
-0.2 |
-0.1 |
- |
- |
|
Acquis. of Building |
- |
- |
- |
-9.5 |
-6.0 |
|
Purchase of Machinery |
-6.6 |
-8.3 |
-9.1 |
-6.1 |
-4.6 |
|
Purchase of Vehicles |
-2.7 |
-1.5 |
-1.2 |
- |
- |
|
Purchase of Construction in Progress |
-120.3 |
-249.9 |
-49.2 |
-51.3 |
-54.6 |
|
Purchase of Other Tangibless |
-7.2 |
-7.3 |
-7.6 |
-5.8 |
-7.2 |
|
Purchase of Intangibless |
-8.7 |
-2.9 |
-9.8 |
-2.5 |
- |
|
Inc. in Develop.Cost |
- |
- |
- |
- |
-1.9 |
|
Inc Other Intangible |
- |
- |
- |
- |
-1.7 |
|
Cash Outlow from Sale of Subsidiaries |
-0.9 |
- |
- |
-53.9 |
- |
|
Cash from Investing Activities |
-262.3 |
-583.6 |
-377.5 |
-59.1 |
-290.5 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
2,362.6 |
2,758.4 |
1,787.4 |
132.0 |
2,204.1 |
|
Increase in Bonds |
308.9 |
266.9 |
10.4 |
367.1 |
991.1 |
|
Increase in Non-Current Borrowings |
285.5 |
743.5 |
49.4 |
280.4 |
23.0 |
|
Cash Inflow from Subsidiaries' Capital I |
- |
119.0 |
-2.6 |
- |
- |
|
Increase in Government Subsidy |
0.2 |
0.2 |
0.2 |
0.0 |
0.4 |
|
Increase in Other Fiexed Liabilities |
0.2 |
- |
- |
- |
- |
|
Increase in Invmt in Subsi. & Affiliates |
-20.4 |
- |
- |
- |
- |
|
Decrease in Current Borrowings |
-2,458.2 |
-3,025.7 |
-1,263.9 |
-139.1 |
-1,957.1 |
|
Decrease in Non-Current Borrowings |
-311.1 |
-160.9 |
-67.1 |
-54.8 |
- |
|
Decrease in Bonds |
- |
- |
-211.9 |
-90.1 |
-3.3 |
|
Dec in LT Borrowings |
- |
- |
- |
-22.0 |
-0.2 |
|
Decrease in Government Subsidy |
0.0 |
-0.5 |
-0.2 |
-0.2 |
- |
|
Decrease-Minority Interest, FN |
- |
- |
- |
- |
-3.9 |
|
Decs in Current Portion of LT Liability |
-444.9 |
-512.0 |
-349.0 |
-189.8 |
-278.7 |
|
Decrease in Other Fixed Liabilities |
-0.1 |
- |
- |
- |
- |
|
Dividend Paid |
-16.7 |
-17.8 |
-20.4 |
-4.3 |
-91.9 |
|
Increase in Treasury Stocks |
0.0 |
- |
0.0 |
-0.1 |
-1.0 |
|
Changes-Consolidation Scope |
- |
- |
- |
-31.5 |
- |
|
Cash from Financing Activities |
-294.1 |
171.2 |
-67.8 |
247.8 |
882.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.0 |
0.0 |
-2.1 |
- |
- |
|
Incs or Decs in Cash & Cash Equivalents |
134.6 |
40.1 |
72.2 |
471.4 |
426.1 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
1,175.9 |
1,155.9 |
1,035.3 |
468.7 |
117.5 |
|
Cash and Cash Equivalents at End |
1,310.5 |
1,196.0 |
1,107.5 |
940.1 |
543.6 |
|
Cash Interest Paid |
73.9 |
103.4 |
92.9 |
- |
- |
|
Cash Taxes Paid |
167.4 |
129.4 |
79.0 |
- |
- |
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.57.78 |
|
UK Pound |
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.24 |
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.