MIRA
INFORM REPORT
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Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
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Name : |
DONGJIN SEMICHEM CO., LTD. |
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Registered Office : |
472-2, Gajwa-Dong, Seo-Gu, Incheon, 404250 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
10.07.1973 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in the provision of electronic
materials and foaming agents |
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No. of Employees : |
878 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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.
|
Source : CIA |
Company name & address
Dongjin Semichem Co., Ltd.
472-2, Gajwa-Dong, Seo-Gu
Incheon, 404250
Korea, Republic of
Tel: 82-32-5785091
Fax: 82-32-5787226
Web: www.dongjin.com
Seoul Office
23rd Fl Kgit Center
1601 Sangam Dong Mapo Ku
Seoul 121-270,
South Korea
Synthesis
Employees: 878
Company Type: Public Parent
Corporate Family: 3
Companies
Traded: KOSDAQ: 005290
Incorporation Date:
10-Jul-1973
Auditor: Jungdong Accounting Corp.
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales: 506.9
1
Net Income: 5.5
Total Assets:
557.6 2
Market Value: 161.0 (07-Jun-2013)
Business Description
Dongjin Semichem Co., Ltd. is a Korea-based company engaged in the provision of electronic materials and foaming agents. The Company's electronic materials include photoresists, bottom anti-reflective coatings (BARCs), chemical mechanical polishing/planarization (CMP) slurries, etchants, thinners, colored resists and others used for semiconductor and flat panel displays (FPDs). Its foaming agents include microsphere (MS) series, dinitrosopentamethylenetetramine (DPT) series, oxybis benzene sulfonyl hydrazide (OBSH) series, azodicarbonamide (ADCA) series, toluenesulfonylhydrazide (TSH) series and phenyltetrazole (PT) series, which are used for plastic, rubber and other applications. It also provides recycling strippers, cleaning fluids and others. For the three months ended 31 March 2013, Dongjin Semichem Co., Ltd. revenues increased 16% to W154.75B. Net income decreased 18% to W1.94B. 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/Expense decrease of 66% to W1.15B (income), Selling & General Administrative Expense increase of 24% to W6.55B (expense).
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1813 - Basic Inorganic
Chemical Manufacturing
NACE 2002: 2413 - Manufacture
of other inorganic basic chemicals
NAICS 2002: 325998 - All Other
Miscellaneous Chemical Product and Preparation Manufacturing
UK SIC 2003: 2413 - Manufacture
of other inorganic basic chemicals
UK SIC 2007: 2013 - Manufacture
of other inorganic basic chemicals
US SIC 1987: 2819 - Industrial
Inorganic Chemicals, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Jun Hyeok Lee |
Co-Chief Executive Officer, Co-President, Director |
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Jun Gyu Lee |
Co-President, Director |
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Wan Jeong Kim |
Internal Auditor |
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Jun Gi Min |
Vice President, Director |
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Jae Yil Park |
Vice President |
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
472-2, Gajwa-Dong, Seo-Gu
Incheon, 404250
Korea, Republic of
Tel: 82-32-5785091
Fax: 82-32-5787226
Web: www.dongjin.com
Quote Symbol - Exchange
005290 - KOSDAQ
Sales KRW(mil): 571,228.3
Assets KRW(mil): 594,654.4
Employees: 878
Fiscal Year End: 31-Dec-2012
Industry: Chemical
Manufacturing
Incorporation Date: 10-Jul-1973
Company Type: Public
Parent
Quoted Status: Quoted
Chairman of the
Board, Co-Chief Executive Officer:
Bu Seop Lee
Industry Codes
ANZSIC 2006 Codes:
1813 - Basic Inorganic Chemical Manufacturing
1851 - Cleaning Compound Manufacturing
NACE 2002 Codes:
2413 - Manufacture of other inorganic basic chemicals
2451 - Manufacture of soap and detergents, cleaning and polishing
preparations
NAICS 2002 Codes:
325998 - All Other Miscellaneous Chemical Product and Preparation
Manufacturing
325612 - Polish and Other Sanitation Good Manufacturing
US SIC 1987:
2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified
2842 - Specialty Cleaning, Polishing, and Sanitation Preparations
UK SIC 2003:
2413 - Manufacture of other inorganic basic chemicals
24512 - Manufacture of cleaning and polishing preparations
UK SIC 2007:
2013 - Manufacture of other inorganic basic chemicals
20412 - Manufacture of cleaning and polishing preparations
Business
Description
Dongjin Semichem
Co., Ltd. is a Korea-based company engaged in the provision of electronic
materials and foaming agents. The Company's electronic materials include
photoresists, bottom anti-reflective coatings (BARCs), chemical mechanical
polishing/planarization (CMP) slurries, etchants, thinners, colored resists and
others used for semiconductor and flat panel displays (FPDs). Its foaming
agents include microsphere (MS) series, dinitrosopentamethylenetetramine (DPT)
series, oxybis benzene sulfonyl hydrazide (OBSH) series, azodicarbonamide
(ADCA) series, toluenesulfonylhydrazide (TSH) series and phenyltetrazole (PT) series,
which are used for plastic, rubber and other applications. It also provides
recycling strippers, cleaning fluids and others. For the three months ended 31
March 2013, Dongjin Semichem Co., Ltd. revenues increased 16% to W154.75B. Net
income decreased 18% to W1.94B. 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/Expense decrease of 66% to W1.15B
(income), Selling & General Administrative Expense increase of 24% to
W6.55B (expense).
More Business Descriptions
Production of
photoresist materials used for semiconductors and LCD equipment
Mfr. of
Semiconductors
DONGJIN SEMICHEM CO.,
LTD. (Dongjin Semichem) is a manufacturer of semiconductors, based in South
Korea. The company manufactures of semiconductors, electronic materials for FPD
(Flat Panel Display) and foaming agents. It also includes conversion of
operating structure into semiconductor and Electronic materials. Due to the
increase in the production and sales of semiconductors in the market, the
company name has changed from DONGJIN Chemical Synthetic Co., Ltd. to DONGJIN
SEMICHEM CO., LTD in August 27th 1999. The company was established in 1967. The
company operates through its business segments namely, electronic materials and
foaming agents. The company’s electronic materials business segment
manufactures materials used in the semiconductor and flat panel displays. For
the semiconductor industry, it produces Bottom Anti-Reflective Coating (BARC)
which is a chemical substance used in the semiconductor circuit process, TCM
which is a material used as a coat to prevent component getting dissolved in
the water, and CMP slurry which is used in the integrated circuits. For the
flat panel materials, the company manufactures colored resist, photo resist,
and photo resist materials. These materials are used in materialize precise
circuit patterns in the Lithography process during the manufacturing process of
TFT-LCD. The company manufactures photo resist for G line which has 436nm wave
length, I-line which has wave length 365nm, Krf excimer which has wave length
348nm, ArF excimer which has wave length 193 nm, electron-beam and x-ray
depending upon the wavelength of the lights used. The company also manufactures
electrode paste for solar cell and fuel cells. The company manufactures these
products in its domestic plants located in Balan and Incheon, and international
plants located in Indonesia and Beijing. The company’s electronic materials
includes, Column spacer, Liquid Crystal Composition, Sealant, Thinner,
Stripper, Bus Black, Photoresist, Fuel cell, BARC, TCM, LCD PR, CMP Slurry, and
Electrode paste for solar cell and others.The company’s foaming agent
business segment manufactures organic and inorganic plastic additives including
microcapsule, N, N-Dinitrosopentamethylenetetramine, Oxybis
(benzenesulfonylhydrazide), azodicarbonamide, toluene sulfonyl hydrazide, and
p-Toluenesulfonylsemicarbazide. N, N-Dinitrosopentamethylenetetramine is a
foaming agent used in rubber and plastic industry. Oxybis is an odorless
nitrogen foaming agent which is used for cellular plastic and rubber
applications. N, N-Dinitrosopentamethylenetetramine serves as a temperature
processing plastics including ABS, rigid PVC, polyamide, HDPE and, 5-PT series.
These materials are produced through its domestic plant located in Shihwa and
the Indonesian plant.The company’s foaming agents include TS 5-PT, TSH, ADCA,
OBSH, DTP, and MS.In March 1996, the company added warehousing business, and in
March 2006 added production methods for inspecting equipments, measuring
equipments, and analysis equipments of substances.Dongjin Semichem sells its
products to the domestic market through three branch offices and three
subsidiaries. It sells products to the market through its office located in
China, Taiwan, and Indonesia. The company’s products in the international
markets are marketed under the brand name UNICELL.The company has been ISO
9001:2008/14001:2004/OHSAS 18001:2007 certified.
Dongjin Semichem
Co., Ltd. (Dongjin Semichem) is a semiconductors manufacturing company, based
in Korea. The company manufactures and sells advanced semiconductor and
electronic materials. Dongjin Semichem’s product portfolio of the company
includes electronic materials for flat panel displays and foaming agents. The
company produces electronic materials such as organic insulators, LCD PR, LPR,
column spacer and bus black. Its semiconductor materials find applications in
the semiconductor circuit processes. Its foaming agents are used in engineering
high temperature processing plastics such as ABS, rigid PVC, polyamide, and
HDP. Dongjin Semichem exports its products worldwide, under the brand name,
UNICELL. The company operates through its manufacturing plants, several
subsidiaries and offices located across China, Taiwan Indonesia and Korea.
Dongjin Semichem is headquartered in Seoul, Korea.The company reported revenues
of (Won) KRW 571,228.24 million during the fiscal year ended December 2012, an
increase of 24.88% over 2011. The operating profit of the company was KRW
27,350.80 million during the fiscal year 2012, an increase of 212.18% over
2011. The net profit of the company was KRW 6,163.53 million during the fiscal
year 2012, whereas the company reported a net loss of KRW 7,381.40 million
during 2011.
Semiconductor and
Other Electronic Component Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Dongjin
Semichem Co., Ltd. |
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Dongjin Semichem Co., Ltd. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Dongjin Semichem Co., Ltd. |
Parent |
Incheon |
Korea, Republic of |
Chemical Manufacturing |
506.9 |
878 |
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Dongjin (USA) Inc. |
Subsidiary |
Bretton Woods, NH |
United States |
Chemical Manufacturing |
11.4 |
5 |
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Taiwan Dongjin Semichem Co., Ltd. |
Subsidiary |
Taichung |
Taiwan |
Semiconductors |
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competitors Report
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Company
Name |
Location |
Employees |
Ownership |
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KCC Corp |
Seoul, Korea, Republic of |
4,776 |
Public |
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Songwon Industrial Co., Ltd. |
Ulsan, Korea, Republic of |
474 |
Public |
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Youngbo Chemical Co., Ltd. |
Cheongwon, Korea, Republic of |
277 |
Public |
Executive report
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Board
of Directors |
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Chairman of the Board, Co-Chief Executive
Officer |
Chairman |
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Vice Chairman |
Vice-Chairman |
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Director |
Director/Board Member |
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Co-Chief Executive Officer, Co-President,
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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Non-Executive Independent Director |
Director/Board Member |
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Vice President, Director |
Director/Board Member |
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Chairman of the Board, Co-Chief Executive
Officer |
Chief Executive Officer |
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CEO |
Chief Executive Officer |
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Co-Chief Executive Officer, Co-President,
Director |
Chief Executive Officer |
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Co-President, Director |
President |
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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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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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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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Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Managing Director |
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Assistant Managing Director |
Managing Director |
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Managing Director |
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Internal Auditor |
Accounting Executive |
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Vice President, Director |
Investor Relations Executive |
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Vice President |
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Significant Developments
Dongjin Semichem Co., Ltd. Announces Subscription Results of 34th Bonds with Warrants May 24, 2013
Dongjin Semichem Co., Ltd. announced that all of its previously announced 34th unregistered/unsecured private bonds with warrants have been successfully subscribed as of May 24, 2013. The Company raised KRW 30 billion in proceeds from the bond offering.
Dongjin Semichem Co., Ltd. to Issue 34th Bonds with Warrants May 22, 2013
Dongjin Semichem Co., Ltd. announced the offering of its 34th unregistered/unsecured private bonds with warrants, raising KRW 30 billion in proceeds, for its operations. The details regarding the bond issuance are as follows: maturity on May 24, 2018, yield to maturity 3%, zero annual coupon, lump-sum redemption of principal on maturity date, 100% conversion rate of bonds to common shares at KRW 4,634 per share and exercise period from May 24, 2014 to April 24, 2018.
Dongjin Semichem Co., Ltd. Declares Annual Cash Dividend for FY 2012 Mar 05, 2013
Dongjin Semichem Co., Ltd. announced that it has declared an annual cash dividend of KRW 60 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 1.4% and the total amount of the cash dividend is KRW 2,522,311,440. The dividend payment date is April 19, 2013. The Company's annual cash dividend for the fiscal year 2011 was KRW 25 per share.
Dongjin Semichem Co., Ltd. to Inject Capital to Subsidiary Oct 18, 2012
Dongjin Semichem Co., Ltd. announced that it will acquire 4 million new shares of its wholly owned subsidiary, DONGJIN DISPLAY MATERIALS CO., LTD., for KRW 20 billion, to secure operation funds and improve financial structure.
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 |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
506.9 |
412.9 |
365.7 |
284.0 |
253.8 |
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Revenue |
506.9 |
412.9 |
365.7 |
284.0 |
253.8 |
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Total Revenue |
506.9 |
412.9 |
365.7 |
284.0 |
253.8 |
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Cost of Revenue |
438.6 |
365.7 |
304.7 |
226.6 |
218.0 |
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Cost of Revenue, Total |
438.6 |
365.7 |
304.7 |
226.6 |
218.0 |
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Gross Profit |
68.3 |
47.2 |
61.1 |
57.4 |
35.9 |
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Selling/General/Administrative Expense |
19.2 |
17.0 |
23.2 |
13.1 |
13.1 |
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Labor & Related Expense |
8.7 |
7.4 |
- |
5.0 |
4.5 |
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Advertising Expense |
0.1 |
0.2 |
- |
0.2 |
0.3 |
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Total Selling/General/Administrative Expenses |
28.0 |
24.7 |
23.2 |
18.4 |
17.9 |
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Research & Development |
12.0 |
11.8 |
11.2 |
11.1 |
4.3 |
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Depreciation |
2.9 |
1.9 |
- |
1.0 |
0.8 |
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Amortization of Intangibles |
1.0 |
0.8 |
- |
0.2 |
0.2 |
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Depreciation/Amortization |
3.9 |
2.7 |
- |
1.3 |
1.0 |
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Investment Income -
Operating |
0.1 |
0.1 |
-0.5 |
- |
- |
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Interest/Investment Income - Operating |
0.1 |
0.1 |
-0.5 |
- |
- |
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Interest Expense (Income) - Net Operating Total |
0.1 |
0.1 |
-0.5 |
- |
- |
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Impairment-Assets Held for Use |
- |
- |
0.0 |
- |
- |
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Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.0 |
- |
- |
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Unusual Expense (Income) |
- |
- |
0.0 |
- |
- |
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Other Operating Expense |
- |
- |
1.6 |
- |
- |
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Other, Net |
- |
- |
-3.6 |
- |
- |
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Other Operating Expenses, Total |
- |
- |
-2.0 |
- |
- |
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Total Operating Expense |
482.7 |
405.0 |
336.6 |
257.3 |
241.1 |
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Operating Income |
24.3 |
7.9 |
29.1 |
26.7 |
12.7 |
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Interest Expense -
Non-Operating |
-18.4 |
-15.2 |
-12.0 |
-10.8 |
-11.8 |
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Interest Expense, Net Non-Operating |
-18.4 |
-15.2 |
-12.0 |
-10.8 |
-11.8 |
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Interest Income -
Non-Operating |
1.0 |
1.0 |
0.7 |
0.4 |
0.5 |
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Investment Income -
Non-Operating |
3.3 |
-3.9 |
-2.6 |
0.5 |
-24.1 |
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Interest/Investment Income - Non-Operating |
4.3 |
-2.9 |
-1.9 |
0.9 |
-23.6 |
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Interest Income (Expense) - Net Non-Operating Total |
-14.2 |
-18.1 |
-13.9 |
-9.9 |
-35.4 |
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Gain (Loss) on Sale of Assets |
0.1 |
0.0 |
- |
0.1 |
-1.2 |
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Other Non-Operating Income (Expense) |
0.3 |
3.8 |
-0.1 |
2.0 |
-0.2 |
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Other, Net |
0.3 |
3.8 |
-0.1 |
2.0 |
-0.2 |
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Income Before Tax |
10.4 |
-6.4 |
15.2 |
18.8 |
-24.0 |
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Total Income Tax |
4.1 |
-0.3 |
1.6 |
0.7 |
-0.5 |
|
Income After Tax |
6.4 |
-6.1 |
13.6 |
18.2 |
-23.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.9 |
-0.6 |
-0.3 |
-0.4 |
1.0 |
|
Net Income Before Extraord Items |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
Net Income |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
42.0 |
42.0 |
42.0 |
40.2 |
37.6 |
|
Basic EPS Excl Extraord Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
Basic/Primary EPS Incl Extraord Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
Diluted Weighted Average Shares |
42.0 |
42.0 |
42.0 |
40.9 |
37.6 |
|
Diluted EPS Excl Extraord Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
Diluted EPS Incl Extraord Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
Dividends per Share - Common Stock Primary Issue |
0.05 |
0.02 |
0.05 |
0.05 |
0.05 |
|
Gross Dividends - Common Stock |
2.2 |
0.9 |
2.2 |
2.0 |
1.7 |
|
Interest Expense, Supplemental |
18.4 |
15.2 |
12.0 |
10.8 |
11.8 |
|
Depreciation, Supplemental |
22.4 |
18.8 |
16.8 |
15.9 |
18.1 |
|
Total Special Items |
-0.1 |
0.0 |
0.0 |
-0.1 |
1.2 |
|
Normalized Income Before Tax |
10.4 |
-6.4 |
15.1 |
18.8 |
-22.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.4 |
|
Inc Tax Ex Impact of Sp Items |
4.0 |
-0.3 |
1.6 |
0.7 |
-0.1 |
|
Normalized Income After Tax |
6.3 |
-6.1 |
13.6 |
18.1 |
-22.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
5.4 |
-6.7 |
13.3 |
17.7 |
-21.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.58 |
|
Diluted Normalized EPS |
0.13 |
-0.16 |
0.32 |
0.43 |
-0.58 |
|
Amort of Intangibles, Supplemental |
3.2 |
2.8 |
2.4 |
1.3 |
1.8 |
|
Rental Expenses |
0.3 |
0.5 |
0.8 |
0.4 |
0.2 |
|
Advertising Expense, Supplemental |
0.1 |
0.2 |
0.3 |
0.2 |
0.3 |
|
Research & Development Exp, Supplemental |
12.0 |
11.8 |
11.2 |
11.1 |
4.3 |
|
Normalized EBIT |
24.4 |
8.0 |
28.6 |
26.7 |
12.7 |
|
Normalized EBITDA |
50.0 |
29.7 |
47.7 |
43.8 |
32.7 |
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 |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
23.2 |
25.9 |
28.6 |
17.2 |
10.2 |
|
Short Term Investments |
0.2 |
- |
0.2 |
0.7 |
0.5 |
|
Cash and Short Term Investments |
23.4 |
25.9 |
28.7 |
17.9 |
10.7 |
|
Accounts Receivable -
Trade, Gross |
108.2 |
76.3 |
79.7 |
47.5 |
29.8 |
|
Provision for Doubtful
Accounts |
-1.0 |
-0.7 |
-0.5 |
-0.7 |
-0.7 |
|
Trade Accounts Receivable - Net |
107.4 |
75.7 |
79.4 |
47.0 |
29.3 |
|
Other Receivables |
6.5 |
4.9 |
5.0 |
3.6 |
3.5 |
|
Total Receivables, Net |
113.8 |
80.6 |
84.4 |
50.5 |
32.8 |
|
Inventories - Finished Goods |
16.3 |
23.1 |
17.2 |
15.2 |
11.0 |
|
Inventories - Work In Progress |
4.6 |
5.9 |
6.3 |
5.8 |
5.7 |
|
Inventories - Raw Materials |
24.6 |
27.8 |
26.0 |
18.6 |
16.8 |
|
Inventories - Other |
6.4 |
7.9 |
6.7 |
6.8 |
8.0 |
|
Total Inventory |
51.9 |
64.7 |
56.2 |
46.3 |
41.5 |
|
Prepaid Expenses |
1.1 |
1.8 |
2.5 |
1.6 |
1.4 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
1.3 |
1.1 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Current Assets, Total |
0.0 |
0.0 |
0.0 |
1.3 |
1.1 |
|
Total Current Assets |
190.1 |
173.0 |
171.8 |
117.6 |
87.5 |
|
|
|
|
|
|
|
|
Buildings |
- |
61.6 |
55.5 |
53.7 |
45.8 |
|
Land/Improvements |
- |
56.8 |
55.4 |
62.6 |
45.7 |
|
Machinery/Equipment |
- |
227.2 |
213.4 |
222.0 |
189.6 |
|
Construction in
Progress |
- |
30.5 |
18.6 |
4.2 |
4.5 |
|
Leases |
- |
18.1 |
3.9 |
10.6 |
7.5 |
|
Other
Property/Plant/Equipment |
- |
0.0 |
0.0 |
0.2 |
- |
|
Property/Plant/Equipment - Gross |
484.8 |
394.3 |
346.9 |
353.2 |
293.0 |
|
Accumulated Depreciation |
-183.2 |
-148.1 |
-131.5 |
-139.9 |
-113.6 |
|
Property/Plant/Equipment - Net |
301.6 |
246.2 |
215.4 |
213.4 |
179.4 |
|
Intangibles, Net |
24.8 |
22.8 |
20.2 |
15.0 |
16.0 |
|
LT Investment - Affiliate Companies |
3.6 |
3.8 |
3.4 |
- |
- |
|
LT Investments - Other |
17.5 |
16.4 |
19.6 |
8.6 |
7.1 |
|
Long Term Investments |
21.2 |
20.2 |
22.9 |
8.6 |
7.1 |
|
Note Receivable - Long Term |
2.0 |
2.6 |
4.4 |
3.4 |
4.0 |
|
Deferred Income Tax - Long Term Asset |
12.4 |
11.0 |
9.5 |
1.7 |
0.9 |
|
Other Long Term Assets |
5.4 |
4.9 |
3.3 |
2.8 |
3.9 |
|
Other Long Term Assets, Total |
17.9 |
15.8 |
12.8 |
4.6 |
4.8 |
|
Total Assets |
557.6 |
480.7 |
447.5 |
362.5 |
298.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
24.4 |
18.8 |
20.1 |
18.3 |
6.2 |
|
Accrued Expenses |
5.0 |
4.1 |
4.1 |
3.9 |
4.5 |
|
Notes Payable/Short Term Debt |
234.3 |
232.8 |
193.1 |
140.7 |
124.0 |
|
Current Portion - Long Term Debt/Capital Leases |
58.0 |
27.4 |
21.1 |
30.5 |
29.1 |
|
Customer Advances |
1.6 |
0.3 |
1.0 |
2.7 |
6.1 |
|
Income Taxes Payable |
3.4 |
0.6 |
1.0 |
- |
0.4 |
|
Other Payables |
11.4 |
7.2 |
8.1 |
6.5 |
7.7 |
|
Other Current Liabilities |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Other Current liabilities, Total |
16.7 |
8.2 |
10.4 |
9.5 |
14.3 |
|
Total Current Liabilities |
338.3 |
291.3 |
248.7 |
202.9 |
178.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
70.6 |
55.3 |
63.0 |
46.3 |
40.0 |
|
Capital Lease Obligations |
9.4 |
5.9 |
0.3 |
1.2 |
0.7 |
|
Total Long Term Debt |
80.0 |
61.1 |
63.3 |
47.5 |
40.7 |
|
Total Debt |
372.2 |
321.4 |
277.5 |
218.7 |
193.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.1 |
0.2 |
0.2 |
- |
- |
|
Deferred Income Tax |
0.1 |
0.2 |
0.2 |
- |
- |
|
Minority Interest |
4.9 |
3.8 |
3.3 |
1.1 |
0.3 |
|
Pension Benefits - Underfunded |
7.4 |
4.3 |
5.1 |
4.4 |
4.3 |
|
Other Long Term Liabilities |
6.1 |
7.6 |
7.4 |
6.0 |
5.3 |
|
Other Liabilities, Total |
13.4 |
11.8 |
12.4 |
10.5 |
9.6 |
|
Total Liabilities |
436.8 |
368.3 |
328.0 |
262.0 |
228.7 |
|
|
|
|
|
|
|
|
Common Stock |
19.7 |
18.2 |
18.5 |
18.1 |
14.9 |
|
Common Stock |
19.7 |
18.2 |
18.5 |
18.1 |
14.9 |
|
Additional Paid-In Capital |
54.6 |
50.6 |
51.4 |
50.2 |
40.2 |
|
Retained Earnings (Accumulated Deficit) |
19.4 |
15.9 |
23.5 |
7.0 |
-10.1 |
|
Unrealized Gain (Loss) |
27.0 |
24.8 |
25.1 |
24.6 |
22.7 |
|
Translation Adjustment |
0.0 |
2.8 |
0.8 |
0.7 |
2.4 |
|
Other Equity |
0.1 |
0.1 |
0.1 |
- |
- |
|
Other Equity, Total |
0.2 |
2.9 |
0.9 |
0.7 |
2.4 |
|
Total Equity |
120.9 |
112.4 |
119.5 |
100.5 |
70.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
557.6 |
480.7 |
447.5 |
362.5 |
298.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
42.0 |
42.0 |
42.0 |
42.0 |
37.6 |
|
Total Common Shares Outstanding |
42.0 |
42.0 |
42.0 |
42.0 |
37.6 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
878 |
801 |
707 |
648 |
544 |
|
Number of Common Shareholders |
- |
5,940 |
- |
8,938 |
7,137 |
|
Accumulated Intangible Amort, Suppl. |
18.4 |
10.9 |
7.5 |
- |
- |
|
Deferred Revenue - Current |
1.6 |
0.3 |
1.0 |
2.7 |
6.1 |
|
Total Long Term Debt, Supplemental |
122.3 |
80.0 |
- |
75.8 |
68.7 |
|
Long Term Debt Maturing within 1 Year |
51.7 |
24.7 |
- |
29.4 |
28.7 |
|
Long Term Debt Maturing in Year 2 |
37.7 |
21.6 |
- |
10.0 |
7.3 |
|
Long Term Debt Maturing in Year 3 |
10.9 |
11.0 |
- |
10.9 |
8.0 |
|
Long Term Debt Maturing in Year 4 |
10.9 |
11.0 |
- |
9.4 |
6.7 |
|
Long Term Debt Maturing in Year 5 |
10.9 |
11.0 |
- |
- |
8.0 |
|
Long Term Debt Maturing in 2-3 Years |
48.5 |
32.6 |
- |
20.9 |
15.3 |
|
Long Term Debt Maturing in 4-5 Years |
21.7 |
21.9 |
- |
9.4 |
14.7 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.4 |
0.8 |
- |
16.0 |
10.0 |
|
Total Capital Leases, Supplemental |
15.1 |
- |
- |
2.3 |
1.1 |
|
Capital Lease Payments Due in Year 1 |
6.3 |
- |
- |
1.1 |
0.4 |
|
Capital Lease Payments Due in Year 2 |
7.3 |
- |
- |
1.0 |
0.4 |
|
Capital Lease Payments Due in Year 3 |
0.5 |
- |
- |
0.1 |
0.3 |
|
Capital Lease Payments Due in Year 4 |
0.5 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.5 |
- |
- |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
7.8 |
- |
- |
1.2 |
0.7 |
|
Capital Lease Payments Due in 4-5 Years |
1.0 |
- |
- |
- |
- |
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 |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong Accounting
Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
6.4 |
-6.1 |
13.6 |
18.2 |
-23.5 |
|
Depreciation |
22.4 |
18.8 |
16.8 |
15.9 |
18.1 |
|
Depreciation/Depletion |
22.4 |
18.8 |
16.8 |
15.9 |
18.1 |
|
Amortization of Intangibles |
3.2 |
2.8 |
2.4 |
1.3 |
1.8 |
|
Amortization |
3.2 |
2.8 |
2.4 |
1.3 |
1.8 |
|
Deferred Taxes |
- |
- |
- |
-0.9 |
-3.0 |
|
Unusual Items |
2.5 |
-0.3 |
-1.3 |
0.5 |
3.6 |
|
Equity in Net Earnings (Loss) |
0.4 |
-0.7 |
-0.5 |
- |
- |
|
Other Non-Cash Items |
19.8 |
19.6 |
16.7 |
-1.7 |
18.0 |
|
Non-Cash Items |
22.7 |
18.5 |
14.9 |
-1.2 |
21.6 |
|
Accounts Receivable |
-23.9 |
3.1 |
-26.9 |
-11.6 |
-1.4 |
|
Inventories |
10.8 |
-11.9 |
-15.7 |
-1.3 |
-11.8 |
|
Prepaid Expenses |
- |
- |
- |
1.3 |
-0.2 |
|
Other Assets |
-3.8 |
2.1 |
0.4 |
- |
- |
|
Accounts Payable |
4.3 |
-3.6 |
8.9 |
8.8 |
-9.5 |
|
Accrued Expenses |
- |
- |
- |
-0.8 |
1.3 |
|
Taxes Payable |
- |
- |
- |
- |
0.2 |
|
Other Liabilities |
1.6 |
-2.7 |
-2.3 |
-6.1 |
0.8 |
|
Other Assets & Liabilities, Net |
-1.3 |
0.6 |
1.2 |
- |
- |
|
Other Operating Cash Flow |
-18.4 |
-16.2 |
-12.0 |
- |
- |
|
Changes in Working Capital |
-30.6 |
-28.5 |
-46.4 |
-9.9 |
-20.7 |
|
Cash from Operating Activities |
24.0 |
5.5 |
1.3 |
23.4 |
-5.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-51.6 |
-53.4 |
-35.8 |
-36.9 |
-30.1 |
|
Purchase/Acquisition of Intangibles |
-8.0 |
-8.2 |
-6.8 |
-2.9 |
-3.8 |
|
Capital Expenditures |
-59.6 |
-61.6 |
-42.6 |
-39.8 |
-33.9 |
|
Sale of Fixed Assets |
0.6 |
0.4 |
0.7 |
3.4 |
0.2 |
|
Sale/Maturity of Investment |
0.4 |
3.9 |
1.5 |
0.4 |
4.1 |
|
Purchase of Investments |
-0.5 |
-0.9 |
-0.9 |
-4.3 |
-1.1 |
|
Sale of Intangible Assets |
- |
- |
0.0 |
- |
0.1 |
|
Other Investing Cash Flow |
-2.1 |
2.1 |
0.3 |
-0.3 |
1.3 |
|
Other Investing Cash Flow Items, Total |
-1.6 |
5.5 |
1.7 |
-0.8 |
4.6 |
|
Cash from Investing Activities |
-61.1 |
-56.1 |
-40.9 |
-40.6 |
-29.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
3.3 |
3.9 |
2.4 |
1.9 |
4.6 |
|
Financing Cash Flow Items |
3.3 |
3.9 |
2.4 |
1.9 |
4.6 |
|
Cash Dividends Paid - Common |
-1.0 |
-2.3 |
-2.2 |
-1.5 |
-1.9 |
|
Total Cash Dividends Paid |
-1.0 |
-2.3 |
-2.2 |
-1.5 |
-1.9 |
|
Sale/Issuance of
Common |
- |
- |
0.8 |
7.8 |
0.0 |
|
Common Stock, Net |
- |
- |
0.8 |
7.8 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
0.8 |
7.8 |
0.0 |
|
Short Term Debt Issued |
- |
- |
- |
124.4 |
152.3 |
|
Short Term Debt
Reduction |
- |
- |
- |
-117.2 |
-106.3 |
|
Short Term Debt, Net |
- |
- |
- |
7.2 |
46.0 |
|
Long Term Debt Issued |
10.6 |
4.9 |
- |
29.2 |
10.9 |
|
Long Term Debt
Reduction |
-4.5 |
-3.0 |
-1.1 |
-21.8 |
-20.2 |
|
Long Term Debt, Net |
6.1 |
1.9 |
-1.1 |
7.4 |
-9.4 |
|
Total Debt Issued |
314.0 |
276.8 |
217.0 |
- |
- |
|
Total Debt Reduction |
-289.1 |
-232.1 |
-166.2 |
- |
- |
|
Issuance (Retirement) of Debt, Net |
30.9 |
46.6 |
49.7 |
14.6 |
36.6 |
|
Cash from Financing Activities |
33.2 |
48.1 |
50.7 |
22.8 |
39.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.5 |
0.0 |
-0.6 |
- |
- |
|
Net Change in Cash |
-4.5 |
-2.4 |
10.5 |
5.6 |
4.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
26.4 |
29.3 |
17.5 |
10.1 |
7.2 |
|
Net Cash - Ending Balance |
21.9 |
26.9 |
28.0 |
15.7 |
11.7 |
|
Cash Interest Paid |
18.5 |
14.6 |
11.6 |
- |
- |
|
Cash Taxes Paid |
1.1 |
2.7 |
1.1 |
- |
- |
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 |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Products |
- |
- |
- |
262.1 |
244.9 |
|
Sales Revenue of Merchandises |
- |
- |
- |
21.9 |
8.9 |
|
Sales Revenue |
506.9 |
412.9 |
365.7 |
- |
- |
|
Total Revenue |
506.9 |
412.9 |
365.7 |
284.0 |
253.8 |
|
|
|
|
|
|
|
|
Costs of Goods & Services Sold |
438.6 |
365.7 |
304.7 |
- |
- |
|
Cost of Finished Goods Sold |
- |
- |
- |
210.2 |
214.7 |
|
Cost of Merchandises Sold |
- |
- |
- |
16.4 |
3.3 |
|
Salaries & Wages |
7.0 |
5.8 |
- |
2.9 |
3.0 |
|
Bonuses |
- |
- |
- |
0.7 |
0.7 |
|
Retirement & Severance Benefits |
0.5 |
0.5 |
- |
0.4 |
0.3 |
|
Employee Benefits |
1.2 |
1.2 |
- |
1.0 |
0.5 |
|
Travel Expense |
0.2 |
0.2 |
- |
0.1 |
0.1 |
|
Communication Expense |
0.2 |
0.2 |
- |
0.2 |
0.2 |
|
Utility Expenses |
0.1 |
0.0 |
- |
0.0 |
0.0 |
|
Taxes & Dues |
0.8 |
0.5 |
- |
0.3 |
0.4 |
|
Rental Expense |
0.3 |
0.5 |
- |
0.4 |
0.2 |
|
Repair Expense |
0.1 |
0.0 |
- |
0.0 |
0.3 |
|
Insurance Premiums |
0.1 |
0.1 |
- |
0.1 |
0.2 |
|
Entertainment |
0.7 |
0.8 |
- |
0.4 |
0.4 |
|
Overseas Mkt Develop |
1.6 |
1.8 |
- |
1.4 |
1.1 |
|
Supply Expense |
- |
- |
- |
0.1 |
0.1 |
|
Publication Expense |
0.0 |
0.0 |
- |
0.1 |
0.2 |
|
Commissions |
2.5 |
1.5 |
- |
2.2 |
1.6 |
|
Sales Commissions |
0.0 |
- |
- |
- |
- |
|
Other Exporting Related Expense |
- |
- |
- |
5.4 |
6.0 |
|
Freight Expense |
- |
- |
- |
1.6 |
1.3 |
|
Vehicle Maintenance Expense |
0.4 |
0.4 |
- |
0.3 |
0.3 |
|
Sample Expense |
1.5 |
1.8 |
- |
0.4 |
0.2 |
|
Expense of Allow. for DA |
0.2 |
0.4 |
- |
0.1 |
0.1 |
|
Advertising Expenses |
0.1 |
0.2 |
- |
0.2 |
0.3 |
|
Distribution Expense |
9.8 |
8.1 |
7.3 |
- |
- |
|
Consumable Expense |
0.3 |
0.4 |
- |
- |
- |
|
Depreciation |
2.9 |
1.9 |
- |
1.0 |
0.8 |
|
Amort. of Intangibless |
1.0 |
0.8 |
- |
0.2 |
0.2 |
|
R & D Expense |
12.0 |
11.8 |
11.2 |
11.1 |
4.3 |
|
Education & Training |
0.1 |
0.0 |
- |
0.1 |
0.1 |
|
Miscellaneous Expense |
0.4 |
0.1 |
- |
0.0 |
0.1 |
|
Selling & General Administrative Expense |
- |
- |
15.9 |
- |
- |
|
Adj. for Selling & Administrative Exp. |
0.0 |
0.0 |
- |
- |
- |
|
Rental Income |
- |
- |
-1.8 |
- |
- |
|
Miscellaneous Income |
- |
- |
-1.8 |
- |
- |
|
Reversal of Allow. for DA |
- |
- |
0.0 |
- |
- |
|
Gain on Disposal of PPT |
- |
- |
-0.1 |
- |
- |
|
Gain on Disposal of Equity Method Sec. |
- |
- |
-0.5 |
- |
- |
|
Gain on Disposal of Residual Products |
- |
- |
-0.2 |
- |
- |
|
Donations Paid |
- |
- |
0.7 |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.9 |
- |
- |
|
Loss on Disposal of Marketable Sec. |
- |
- |
0.0 |
- |
- |
|
Loss on Disposal of PPT |
- |
- |
0.2 |
- |
- |
|
Depreciation for Invmt Property |
0.1 |
0.1 |
- |
- |
- |
|
Impmt Loss on PPT |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Income/Loss |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
482.7 |
405.0 |
336.6 |
257.3 |
241.1 |
|
|
|
|
|
|
|
|
Interest Income |
1.0 |
1.0 |
0.7 |
0.4 |
0.5 |
|
Rental Income |
0.6 |
1.3 |
- |
0.3 |
0.2 |
|
Gain on Foreign Currency Transaction |
5.1 |
5.8 |
4.4 |
7.0 |
9.9 |
|
Gain on Foreign Currency Translation |
6.0 |
1.3 |
2.0 |
5.0 |
1.2 |
|
Commission Income |
- |
- |
- |
0.1 |
0.1 |
|
Gain on Fincl Guarantee Contract |
0.3 |
0.1 |
0.1 |
- |
- |
|
Miscellaneous Income |
5.1 |
3.4 |
- |
3.1 |
1.6 |
|
G-Tang Asset Disp. |
0.0 |
0.0 |
- |
0.2 |
0.0 |
|
Gain-Disposal of Residual Products |
0.1 |
0.0 |
- |
- |
- |
|
Gain on Disposal of Real Estate |
- |
0.0 |
- |
- |
- |
|
Gain/Loss on Invmt in Affiliates |
-0.4 |
0.7 |
0.5 |
- |
- |
|
Reversal of Allow. for DA |
- |
- |
- |
0.1 |
- |
|
Interest Expense |
-18.4 |
-15.2 |
-12.0 |
-10.8 |
-11.8 |
|
Loss-Redemption of Debentures |
- |
- |
- |
- |
-0.6 |
|
L-Mkt Secs Disposal |
0.0 |
0.0 |
- |
-0.6 |
0.0 |
|
L-Tang Asset Disp. |
-0.1 |
-0.1 |
- |
-0.1 |
-1.2 |
|
Loss-Disposal of Accounts Receivable |
- |
- |
- |
- |
0.0 |
|
Loss on Disposal of Real Estate |
- |
0.0 |
- |
- |
- |
|
Impmt Loss on Intangibless |
-0.6 |
-0.7 |
- |
- |
- |
|
Loss-Reduction of Development Expenses |
- |
- |
- |
-3.3 |
- |
|
Loss on Foreign Currency Transaction |
-4.7 |
-7.8 |
-6.2 |
-6.8 |
-18.3 |
|
Loss on Foreign Currency Translation |
-2.1 |
-3.1 |
-3.3 |
-0.8 |
-16.4 |
|
Loss on Fincl Guarantee Contract |
0.0 |
-0.5 |
-0.2 |
- |
- |
|
Loss-Valuation of Tangible Assets |
- |
- |
- |
- |
-0.5 |
|
Donations |
-2.1 |
-0.2 |
- |
-0.8 |
-0.2 |
|
Bad Debt Expense |
- |
- |
- |
- |
0.0 |
|
Maintenance Losses |
-0.5 |
-0.3 |
- |
- |
- |
|
Other Non-Operating Loss |
- |
- |
- |
-0.8 |
-1.1 |
|
Amort of R&D Expense |
-1.8 |
- |
- |
- |
- |
|
Other Amortization |
-1.2 |
- |
- |
- |
- |
|
Other Non-Operating Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Income Before Taxes |
10.4 |
-6.4 |
15.2 |
18.8 |
-24.0 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
4.1 |
-0.3 |
1.6 |
0.7 |
-0.5 |
|
Net Income After Taxes |
6.4 |
-6.1 |
13.6 |
18.2 |
-23.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.9 |
-0.6 |
-0.3 |
-0.4 |
1.0 |
|
Net Income Before Extra. Items |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
Net Income |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
42.0 |
42.0 |
42.0 |
40.2 |
37.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
Basic EPS Including ExtraOrdinary Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
5.5 |
-6.7 |
13.3 |
17.8 |
-22.5 |
|
Diluted Weighted Average Shares |
42.0 |
42.0 |
42.0 |
40.9 |
37.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
Diluted EPS Including ExtraOrd Items |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.60 |
|
DPS-Common Stock |
0.05 |
0.02 |
0.05 |
0.05 |
0.05 |
|
Gross Dividends - Common Stock |
2.2 |
0.9 |
2.2 |
2.0 |
1.7 |
|
Normalized Income Before Taxes |
10.4 |
-6.4 |
15.1 |
18.8 |
-22.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
4.0 |
-0.3 |
1.6 |
0.7 |
-0.1 |
|
Normalized Income After Taxes |
6.3 |
-6.1 |
13.6 |
18.1 |
-22.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
5.4 |
-6.7 |
13.3 |
17.7 |
-21.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.13 |
-0.16 |
0.32 |
0.44 |
-0.58 |
|
Diluted Normalized EPS |
0.13 |
-0.16 |
0.32 |
0.43 |
-0.58 |
|
R&D Expense, Supplemental |
12.0 |
11.8 |
11.2 |
11.1 |
4.3 |
|
Advertising Expense, Supplemental |
0.1 |
0.2 |
0.3 |
0.2 |
0.3 |
|
Interest Expense, Supplemental |
18.4 |
15.2 |
12.0 |
10.8 |
11.8 |
|
Amort of Intangibles, Supplemental |
3.2 |
2.8 |
2.4 |
1.3 |
1.8 |
|
Rental Expense, Supplemental |
0.3 |
0.5 |
0.8 |
0.4 |
0.2 |
|
Depreciation, Supplemental |
22.4 |
18.8 |
16.8 |
15.9 |
18.1 |
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 |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
23.2 |
25.9 |
28.6 |
17.2 |
10.2 |
|
Current Fincl Assets |
0.2 |
- |
0.2 |
0.7 |
0.5 |
|
ST Marketable Secs. |
- |
- |
- |
- |
0.0 |
|
Trade Receivable, Gross |
108.2 |
76.3 |
79.7 |
47.5 |
29.8 |
|
Allow. for DA for Trade Receivable |
-1.0 |
-0.7 |
-0.5 |
-0.7 |
-0.7 |
|
Current Loans |
2.3 |
0.0 |
0.0 |
- |
- |
|
Account Receivable |
4.1 |
4.9 |
5.0 |
3.6 |
3.5 |
|
Accrued Income |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Advance Payments |
2.6 |
2.6 |
2.3 |
4.8 |
3.6 |
|
Prepaid Expense |
1.1 |
1.4 |
2.4 |
1.0 |
1.3 |
|
Dfrd Taxes |
- |
- |
- |
1.3 |
1.1 |
|
Prepaid Income Taxes |
- |
- |
- |
0.6 |
0.1 |
|
Current Tax Assets |
0.0 |
0.4 |
0.0 |
- |
- |
|
Prepaid VAT |
- |
- |
- |
0.0 |
0.0 |
|
Finished Goods |
16.0 |
13.4 |
11.1 |
13.7 |
9.9 |
|
Allow. for Loss-Valt of Finished Goods |
-1.4 |
-1.0 |
-0.6 |
- |
- |
|
Merchandises |
1.7 |
10.8 |
6.7 |
1.4 |
1.1 |
|
Works in Process |
5.7 |
6.8 |
6.8 |
5.8 |
5.7 |
|
Allowance for Loss on Valuation of Works |
-1.0 |
-0.9 |
-0.5 |
- |
- |
|
Raw Materials |
27.2 |
29.1 |
27.4 |
18.6 |
16.8 |
|
Allow. for Loss on Valt of Raw Materials |
-2.6 |
-1.3 |
-1.4 |
- |
- |
|
Supplies |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Goods in Transit |
3.6 |
5.1 |
4.2 |
1.9 |
4.3 |
|
Adj. for Trade & Other Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Inventories |
0.0 |
- |
0.0 |
- |
- |
|
Adj. for Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
190.1 |
173.0 |
171.8 |
117.6 |
87.5 |
|
|
|
|
|
|
|
|
Non-Current Fincl Assets |
0.4 |
0.5 |
0.4 |
0.3 |
0.0 |
|
Invmt in Properties |
14.2 |
13.3 |
17.2 |
- |
- |
|
LT Invest Secs. |
- |
- |
- |
8.3 |
4.0 |
|
Non-Current Trade Receivable |
0.1 |
1.0 |
1.2 |
1.4 |
2.5 |
|
Allow. for DA for LT Trade Receivable |
- |
0.0 |
0.0 |
- |
- |
|
PV Disc. for LT Trade Receivable |
- |
-0.1 |
-0.2 |
- |
- |
|
Non-Current Loans |
1.9 |
2.1 |
4.5 |
1.9 |
1.6 |
|
PV Disc. for LT Loans |
- |
-0.3 |
-1.1 |
- |
- |
|
Non-Current Securities Available-for-Sal |
2.9 |
2.6 |
2.0 |
- |
- |
|
Guarantee Deposits, Non-Current Assets |
1.3 |
1.4 |
0.9 |
1.8 |
1.5 |
|
Non-Current Deferred Income Taxes Assets |
12.4 |
11.0 |
9.5 |
1.7 |
0.9 |
|
Other Invmt Assets |
- |
- |
- |
- |
3.0 |
|
Equity Method Securities |
3.6 |
3.8 |
3.4 |
- |
- |
|
Non-Current Advance Payments |
1.8 |
1.5 |
1.2 |
0.8 |
2.1 |
|
Non-Current Prepaid Expense |
2.4 |
1.9 |
1.2 |
- |
- |
|
Land |
- |
56.8 |
55.4 |
62.6 |
45.7 |
|
Buildings |
- |
52.2 |
48.0 |
47.4 |
40.1 |
|
Buildings Depre. |
- |
-8.9 |
-7.7 |
-7.4 |
-5.7 |
|
Structures |
- |
9.4 |
7.5 |
6.2 |
5.6 |
|
Structure Depre. |
- |
-4.0 |
-3.6 |
-3.1 |
-2.6 |
|
Machinery/Equip. |
- |
174.2 |
166.2 |
183.0 |
158.9 |
|
Mach/Equip Depre |
- |
-97.2 |
-87.2 |
-95.3 |
-78.2 |
|
Mach/Equip - Gov't Subsidy |
- |
- |
- |
-0.7 |
-0.6 |
|
Transport Equip. |
- |
4.3 |
3.6 |
3.0 |
2.8 |
|
Transport Deprec |
- |
-2.4 |
-2.0 |
-2.0 |
-2.0 |
|
Tools |
- |
39.7 |
35.6 |
30.7 |
23.4 |
|
Tool/Equip Depr. |
- |
-28.4 |
-24.1 |
-19.5 |
-14.7 |
|
Tools/Equipments - Gov't Subsidy |
- |
- |
- |
-1.2 |
-0.8 |
|
Fixtures |
- |
9.1 |
8.0 |
7.1 |
5.9 |
|
Deprec. Fixtures |
- |
-6.6 |
-6.1 |
-5.4 |
-4.4 |
|
Capital Lease Asts |
- |
18.1 |
3.9 |
10.6 |
7.5 |
|
Dep-Capital Lease |
- |
-0.5 |
-0.7 |
-7.2 |
-6.0 |
|
Machines in Transit |
- |
0.0 |
0.0 |
- |
- |
|
Construction in Progress |
- |
30.5 |
18.6 |
4.2 |
4.5 |
|
Other Tangible Assets |
- |
0.0 |
0.0 |
0.2 |
- |
|
Other Tangibles-Depreciation |
- |
0.0 |
0.0 |
0.0 |
- |
|
Industrial Property Rights |
2.7 |
2.0 |
3.2 |
3.7 |
2.9 |
|
Development Costs |
12.2 |
12.4 |
10.6 |
9.3 |
10.9 |
|
Software |
3.3 |
3.3 |
2.7 |
1.1 |
1.3 |
|
Other Intangibless |
6.6 |
5.1 |
3.8 |
- |
- |
|
Land Usufruct |
- |
- |
- |
0.9 |
0.9 |
|
Other Non-Current Assets |
- |
- |
0.0 |
- |
0.2 |
|
Other Fixed Assets |
- |
- |
- |
0.2 |
0.2 |
|
Adj. for LT Trade & Other Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj-Property, Plant & Equipment, Net |
- |
0.0 |
0.0 |
- |
- |
|
Adj. for Intangibless |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Current Assets |
0.0 |
- |
0.0 |
- |
- |
|
PPE, Gross |
488.5 |
- |
- |
- |
- |
|
Government Subsidy,Total |
-3.8 |
- |
- |
- |
- |
|
Property, Plant & Equipment-Depreciation |
-183.2 |
- |
- |
- |
- |
|
Adj-Property, Plant & Equipment, Net |
- |
- |
- |
- |
- |
|
Total Assets |
557.6 |
480.7 |
447.5 |
362.5 |
298.9 |
|
|
|
|
|
|
|
|
Trade Payable |
24.4 |
18.8 |
20.1 |
18.3 |
6.2 |
|
Current Borrowings |
234.1 |
232.8 |
193.1 |
140.7 |
124.0 |
|
Other Payable |
11.4 |
7.2 |
8.1 |
6.5 |
7.7 |
|
Advance from Customers |
0.4 |
0.3 |
0.9 |
2.7 |
6.1 |
|
Unearned Income |
1.2 |
0.1 |
0.1 |
- |
- |
|
Withheld |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Current Tax Liabilities |
3.4 |
0.6 |
1.0 |
- |
0.4 |
|
Accrued Expense |
1.7 |
1.6 |
1.4 |
- |
- |
|
Other Accrued Expense |
3.3 |
2.5 |
2.7 |
3.9 |
4.5 |
|
Bonds, Current Liabilities |
21.6 |
24.7 |
20.2 |
- |
- |
|
Current Portion of Long-term Liabilities |
- |
- |
- |
30.5 |
29.1 |
|
Current Capital Lease Payable |
6.3 |
2.7 |
0.9 |
- |
- |
|
Adj. for Trade & Other Payable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Current Borrowings |
0.0 |
- |
0.0 |
- |
- |
|
Adj. for Other Current Liabilities |
0.0 |
- |
- |
- |
- |
|
Other Current Borrowings |
0.1 |
- |
- |
- |
- |
|
Current Portion of Long-term Borrowings |
30.1 |
- |
- |
- |
- |
|
Total Current Liabilities |
338.3 |
291.3 |
248.7 |
202.9 |
178.2 |
|
|
|
|
|
|
|
|
Non-Current Borrowings |
70.6 |
49.8 |
56.9 |
46.3 |
40.0 |
|
Non-Current Capital Lease Liabilities |
9.4 |
5.9 |
0.3 |
1.2 |
0.7 |
|
Bonds |
- |
5.5 |
6.0 |
- |
- |
|
Adj. for Non-current Borrowings |
- |
0.0 |
0.0 |
- |
- |
|
Total Long Term Debt |
80.0 |
61.1 |
63.3 |
47.5 |
40.7 |
|
|
|
|
|
|
|
|
Fincl Guarantee Contracts Liabilities |
0.3 |
0.6 |
0.2 |
- |
- |
|
LT Acc'ts Payable |
- |
- |
- |
4.8 |
4.1 |
|
Other Non-Current Liabilities |
5.5 |
6.8 |
5.7 |
- |
- |
|
Retirement & Severance Benefits, Non-Cur |
7.4 |
4.3 |
5.1 |
11.7 |
4.3 |
|
Rental Guarantee Deposit, LT Liabilities |
0.2 |
0.2 |
1.4 |
1.3 |
1.2 |
|
Deferred Income Taxes, LT Liabilities |
0.1 |
0.2 |
0.2 |
- |
- |
|
Minority Interests |
4.9 |
3.8 |
3.3 |
1.1 |
0.3 |
|
Plan Assets |
- |
- |
- |
-7.2 |
- |
|
Transfer to National Pension Fund |
- |
- |
- |
0.0 |
- |
|
Adj. for LT Trade & Other Payable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Liabilities |
436.8 |
368.3 |
328.0 |
262.0 |
228.7 |
|
|
|
|
|
|
|
|
Capital Stock |
19.7 |
18.2 |
18.5 |
18.1 |
14.9 |
|
Additional Paid in Capital |
54.4 |
50.5 |
51.3 |
50.0 |
39.4 |
|
Other Capital Surplus |
0.1 |
0.1 |
0.1 |
0.2 |
0.9 |
|
Legal Reserve |
- |
- |
- |
3.3 |
2.9 |
|
Voluntary Reserve |
- |
- |
- |
6.0 |
5.6 |
|
Tech Devel Reser |
- |
- |
- |
0.1 |
0.2 |
|
Unappropriated Retained Earnings |
- |
- |
- |
-2.4 |
-18.8 |
|
Retained Earnings |
19.4 |
15.9 |
23.5 |
- |
- |
|
Gain on Sale of Tangible Assets |
18.2 |
16.9 |
17.1 |
16.7 |
15.4 |
|
Resv for Assets ReValt |
8.6 |
7.9 |
8.1 |
7.8 |
7.3 |
|
Overseas Business Translation Credit |
0.0 |
2.8 |
0.8 |
0.7 |
2.4 |
|
Capital Change, Equity Method |
0.2 |
0.0 |
-0.1 |
- |
- |
|
Disc.s on Stock Issuance |
- |
0.0 |
0.0 |
- |
- |
|
Gains on Disposal of Treasury Stock |
0.1 |
0.1 |
0.1 |
- |
- |
|
Adj. for Other Paid-in Capital |
- |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Capital Items |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Equity |
120.9 |
112.4 |
119.5 |
100.5 |
70.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
557.6 |
480.7 |
447.5 |
362.5 |
298.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
42.0 |
42.0 |
42.0 |
42.0 |
37.6 |
|
Total Common Shares Outstanding |
42.0 |
42.0 |
42.0 |
42.0 |
37.6 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
1.6 |
0.3 |
1.0 |
2.7 |
6.1 |
|
Accumulated Intangible Amort, Suppl. |
18.4 |
10.9 |
7.5 |
- |
- |
|
Full-Time Employees |
878 |
801 |
707 |
648 |
544 |
|
Number of Common Shareholders |
- |
5,940 |
- |
8,938 |
7,137 |
|
LT Debt 1 yr |
51.7 |
24.7 |
- |
29.4 |
28.7 |
|
LT Debt 2 yrs |
37.7 |
21.6 |
- |
10.0 |
7.3 |
|
LT Debt 3 yrs |
- |
- |
- |
10.9 |
8.0 |
|
LT Debt 4 yrs |
- |
- |
- |
9.4 |
6.7 |
|
LT Debt 5 yrs |
32.6 |
32.9 |
- |
- |
8.0 |
|
LT Debt thereafter |
0.4 |
0.8 |
- |
16.0 |
10.0 |
|
Total Long Term Debt, Supplemental |
122.3 |
80.0 |
- |
75.8 |
68.7 |
|
Capital Lse 1 yr |
6.3 |
- |
- |
1.1 |
0.4 |
|
Capital Lse 2 yrs |
7.3 |
- |
- |
1.0 |
0.4 |
|
Capital Lease 3 Yrs |
- |
- |
- |
0.1 |
0.3 |
|
Capital Lease Payments Due in Year 5 |
1.5 |
- |
- |
- |
- |
|
Total Capital Leases, Supplemental |
15.1 |
- |
- |
2.3 |
1.1 |
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 |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
Jungdong
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
6.4 |
-6.1 |
13.6 |
18.2 |
-23.5 |
|
Depreciation |
22.4 |
18.8 |
16.8 |
15.9 |
18.1 |
|
Amort. of Intangibless |
3.2 |
2.8 |
2.4 |
1.3 |
1.8 |
|
Recovery of Provision for Doubtful Ac |
- |
- |
- |
-0.1 |
-0.4 |
|
Expenses of Allowance for Doubtful Accou |
- |
- |
- |
0.1 |
0.6 |
|
Retirement and Severance Benefits |
2.8 |
3.0 |
2.5 |
2.5 |
2.1 |
|
Depreciation of Real Estate |
0.1 |
0.1 |
0.2 |
- |
- |
|
Accrued Interest Expense |
- |
- |
- |
- |
0.4 |
|
Loss-Foreign Exchange Transaction |
- |
- |
- |
- |
0.4 |
|
Losses on Foreign Currency Translation |
2.1 |
3.1 |
3.3 |
0.8 |
15.5 |
|
Loss-Redemption of Bond |
- |
- |
- |
- |
0.6 |
|
Loss on Disposal of Property, Plant and |
0.1 |
0.1 |
0.2 |
0.1 |
1.2 |
|
Impmt Loss on Tangibles |
- |
- |
0.0 |
- |
- |
|
L-Mkt Secs Disposal |
- |
- |
- |
0.6 |
0.0 |
|
Loss-Valuation of Tangible Assets |
- |
- |
- |
- |
0.5 |
|
Impmt Loss on Intangibless |
2.5 |
0.7 |
- |
- |
- |
|
L-Value Finished Goods |
- |
- |
- |
- |
1.3 |
|
Loss on Invesment in Affiliates |
0.7 |
0.1 |
- |
- |
- |
|
Gains on Foreign Currency Translation |
-6.0 |
-1.3 |
-2.0 |
-5.0 |
-0.6 |
|
Gain-Disposal of Treasury Stock |
- |
- |
- |
- |
0.0 |
|
Corporate Taxes Expense |
4.1 |
-0.3 |
1.6 |
- |
- |
|
Finance Expense |
18.4 |
15.2 |
12.0 |
- |
- |
|
Other Added Expense |
0.1 |
0.5 |
0.6 |
- |
- |
|
Gain on Invesment in Affiliates |
-0.4 |
-0.8 |
-0.5 |
- |
- |
|
Gain on Disposal of Investment Propertie |
- |
0.0 |
- |
- |
- |
|
Gain on Disposal of Investment in Affili |
- |
- |
-0.5 |
- |
- |
|
G-Tang Asset Disp. |
0.0 |
0.0 |
-0.1 |
-0.2 |
0.0 |
|
Finance Income |
-1.0 |
-1.0 |
-0.7 |
- |
- |
|
Other Deducted Income |
-0.9 |
0.3 |
-0.7 |
- |
- |
|
Trade & Other Receviables |
-24.9 |
3.1 |
-26.9 |
- |
- |
|
Other Current Fincl Reveivables |
1.0 |
- |
- |
- |
- |
|
Decrease or Increase in Trade Receivable |
- |
- |
- |
-14.0 |
-0.8 |
|
Decrease or Increase in Long-term Trade |
- |
- |
- |
2.2 |
- |
|
Acct Rcvbl |
- |
- |
- |
0.2 |
-0.8 |
|
Accrued Inc |
- |
- |
- |
0.0 |
0.2 |
|
Advanced Payment |
- |
- |
- |
-0.8 |
-1.4 |
|
Prepaid Exp |
- |
- |
- |
0.4 |
-0.2 |
|
Prepaid Income Taxes |
- |
- |
- |
-0.4 |
- |
|
Prepaid Value Added Taxes |
- |
- |
- |
0.0 |
- |
|
LT Advance Payment |
- |
- |
- |
1.3 |
- |
|
Inventory |
10.8 |
-11.9 |
-15.7 |
-0.5 |
-10.3 |
|
Other Current Assets |
-3.2 |
2.1 |
0.4 |
- |
- |
|
Other Non-Current Assets |
-0.5 |
- |
- |
- |
- |
|
Other Non-Current Fincl Reveivables |
-0.1 |
- |
- |
- |
- |
|
Decrease in Other Non-Current Assets |
- |
-1.1 |
-0.8 |
- |
- |
|
Deferred Taxes-Asset |
- |
- |
- |
-0.9 |
-3.0 |
|
Trade & Other Payable |
- |
-3.6 |
8.9 |
- |
- |
|
Trade Pay |
4.3 |
- |
- |
10.5 |
-16.9 |
|
Account Payables |
- |
- |
- |
-2.1 |
7.5 |
|
Increase or Decrease in Long-term Other |
- |
- |
- |
0.3 |
- |
|
Advances Rcvd |
- |
- |
- |
-3.5 |
2.4 |
|
Deposits Withheld |
- |
- |
- |
0.1 |
0.0 |
|
Accrued Exp. |
- |
- |
- |
-0.8 |
1.3 |
|
Accrued Income Taxes |
- |
- |
- |
- |
0.2 |
|
Other Current Fincl Liabilities |
3.5 |
- |
- |
- |
- |
|
Other Non-Current Fincl Payable |
0.0 |
- |
- |
- |
- |
|
Plan Assets |
-1.0 |
0.1 |
-0.6 |
- |
- |
|
Payment for Retirement Allow. |
-2.2 |
-2.1 |
-1.9 |
-1.2 |
-1.0 |
|
Retirement & Severance Benefits from Aff |
0.1 |
0.0 |
- |
- |
- |
|
Retirement & Severance Benefits from Aff |
-0.1 |
0.0 |
- |
- |
- |
|
Natl Pension |
- |
- |
- |
0.0 |
0.0 |
|
Dep for Ret Ins |
- |
- |
- |
- |
1.6 |
|
Retirement Pension Operating Fund |
- |
- |
- |
-1.5 |
-2.2 |
|
Other Current Liabilities |
1.3 |
-0.7 |
0.2 |
- |
- |
|
Other Operating Assets & Liabilities |
-1.3 |
0.6 |
1.2 |
- |
- |
|
Cash-Interest Received |
0.9 |
0.9 |
0.4 |
- |
- |
|
Cash-Interest Paid |
-18.5 |
-14.6 |
-11.6 |
- |
- |
|
Cash-Tax Refunded |
0.4 |
0.2 |
0.1 |
- |
- |
|
Cash-Tax Paid |
-1.4 |
-2.9 |
-1.2 |
- |
- |
|
Cash-Dividend Income |
0.2 |
0.2 |
0.2 |
- |
- |
|
Cash from Operating Activities |
24.0 |
5.5 |
1.3 |
23.4 |
-5.6 |
|
|
|
|
|
|
|
|
op |
0.0 |
0.2 |
0.7 |
0.4 |
2.7 |
|
Disposal-ST Marketable Securities |
- |
- |
- |
0.0 |
- |
|
Disposal of Investment Properties |
- |
3.7 |
- |
- |
- |
|
Dec. Other Inv Asset |
- |
- |
- |
- |
1.1 |
|
Disp of Invest Secs. |
- |
- |
- |
- |
0.3 |
|
Disposal of Investment in Affiliates |
- |
- |
0.8 |
- |
- |
|
Sale of Non-Current Fincl Assets |
0.4 |
- |
- |
- |
- |
|
Decrease in Current Loans |
- |
0.0 |
- |
- |
- |
|
Decrease in Non-Current Loans |
0.2 |
2.4 |
0.4 |
0.0 |
0.4 |
|
Dec-Guarantee Dep |
- |
- |
- |
- |
2.0 |
|
Dec-Lease Guarantee |
- |
- |
- |
-0.2 |
-0.1 |
|
Decr.-LT Acct Rcvbl |
- |
- |
- |
- |
0.0 |
|
Decrease-Other Non-Current Liabilities |
- |
- |
- |
0.1 |
0.0 |
|
Disposal Vehicles |
- |
- |
- |
0.1 |
0.0 |
|
Disposal Mach./Equip |
- |
- |
- |
0.5 |
0.1 |
|
Disposal-Tools & Supplies |
- |
- |
- |
0.9 |
0.0 |
|
Proceeds from Sale of Construction in Pr |
- |
- |
- |
1.9 |
- |
|
Disposal of Property, Plant and Equipmen |
0.6 |
0.4 |
0.7 |
- |
- |
|
Inc-Lease Guarantee |
- |
- |
- |
0.0 |
2.5 |
|
Incr-LT Acc'ts Payable |
- |
- |
- |
0.3 |
0.3 |
|
Increase in Current Loans |
-2.2 |
- |
0.0 |
- |
- |
|
Increase in Non-Current Loans |
0.0 |
-0.4 |
-0.1 |
-0.2 |
- |
|
Increase-LT Advanced Payment |
- |
- |
- |
- |
-2.4 |
|
Increase-Other LT Assets |
- |
- |
- |
-0.1 |
0.0 |
|
Inc in Guarant Depos |
- |
- |
- |
-0.2 |
-1.5 |
|
Disposal of Intangible Assets |
- |
- |
0.0 |
- |
- |
|
Decrease in Membership Rights |
- |
- |
- |
- |
0.1 |
|
Purchase of Current Fincl Assets |
-0.1 |
0.0 |
-0.1 |
-0.5 |
-0.6 |
|
Purchase of Non-Current Fincl Assets |
-0.4 |
-0.1 |
-0.1 |
-0.3 |
0.0 |
|
Inc Other Invt Ast |
- |
- |
- |
- |
-0.5 |
|
Increase-Investment Securities |
- |
- |
- |
-3.5 |
- |
|
Purchase of Sec. Available-for-Sale |
- |
-0.7 |
-0.6 |
- |
- |
|
Purchase of ST Fincl Instrm at FVTPL |
0.0 |
0.0 |
0.0 |
- |
- |
|
Purchase of Land |
- |
- |
- |
- |
-3.6 |
|
Purchase of Buildings |
- |
- |
- |
-0.4 |
-0.5 |
|
Purchase of Structures |
- |
- |
- |
-0.2 |
0.0 |
|
Purchase of Machinery |
- |
- |
- |
-8.9 |
-3.5 |
|
Purchase of Vehicles |
- |
- |
- |
-0.4 |
-0.3 |
|
Acq. in Tools/Equip. |
- |
- |
- |
-1.0 |
-1.8 |
|
Purchase of Office Equipment |
- |
- |
- |
-0.6 |
-0.7 |
|
Purchase of Construction in Progress |
- |
- |
- |
-25.5 |
-19.7 |
|
Purchase of Tangibles |
-51.6 |
-53.4 |
-35.8 |
- |
- |
|
Purchase of Intangibless |
-8.0 |
-8.2 |
-6.8 |
-1.2 |
-2.9 |
|
Increase in R&D Cost |
- |
- |
- |
-1.6 |
-0.3 |
|
Purchase of Computer Software |
- |
- |
- |
-0.1 |
-0.6 |
|
Cash from Investing Activities |
-61.1 |
-56.1 |
-40.9 |
-40.6 |
-29.3 |
|
|
|
|
|
|
|
|
Increase in Borrowings |
314.0 |
276.8 |
217.0 |
- |
- |
|
Increase-Bond |
- |
- |
- |
18.9 |
- |
|
Inc in LT Borrowings |
- |
- |
- |
8.5 |
10.9 |
|
Increase in Capital Lease Liabilities |
10.6 |
4.9 |
- |
1.8 |
- |
|
Capital Increase |
- |
- |
- |
7.8 |
- |
|
Proceeds from ST Borrowing |
- |
- |
- |
124.4 |
152.3 |
|
Disposal-Treasury Stock |
- |
- |
- |
- |
0.0 |
|
Rights Issue |
- |
- |
0.8 |
- |
- |
|
Decrease in Borrowings |
-289.1 |
-232.1 |
-166.2 |
- |
- |
|
Dec of ST Borrowings |
- |
- |
- |
-117.2 |
-106.3 |
|
Dividend Paid |
-1.0 |
-2.3 |
-2.2 |
-1.5 |
-1.9 |
|
Decrease in Capital Lease Liabilities |
-4.5 |
-3.0 |
-1.1 |
- |
- |
|
Dec in LT Borrowings |
- |
- |
- |
-21.8 |
-11.1 |
|
Redemption-Bond with Warrant |
- |
- |
- |
- |
-9.1 |
|
Cash Outflow-Consolidation Scope Change |
- |
- |
- |
- |
3.9 |
|
Cash Inflow from Other Financing Act. |
5.6 |
7.9 |
6.5 |
1.9 |
0.7 |
|
Cash Outflow from Other Financing Act. |
-1.4 |
-5.0 |
-4.3 |
- |
- |
|
Other Increase/Decrease |
-0.9 |
1.0 |
0.2 |
- |
- |
|
Cash from Financing Activities |
33.2 |
48.1 |
50.7 |
22.8 |
39.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.5 |
0.0 |
-0.6 |
- |
- |
|
Incs or Decs in Cash & Cash Equivalents |
-4.5 |
-2.4 |
10.5 |
5.6 |
4.5 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
26.4 |
29.3 |
17.5 |
10.1 |
7.2 |
|
Cash and Cash Equivalents at End |
21.9 |
26.9 |
28.0 |
15.7 |
11.7 |
|
Cash Interest Paid |
18.5 |
14.6 |
11.6 |
- |
- |
|
Cash Taxes Paid |
1.1 |
2.7 |
1.1 |
- |
- |
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.59.35 |
|
UK Pound |
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
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.