MIRA INFORM REPORT
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Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
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Name : |
KISWIRE CO LTD |
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Registered Office : |
KIS Wire Bldg., 475, Mangmi 2-Dong, Suyeong-Gu Sooyoung-Gu, Busan, 613701 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.09.1945 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Manufacturer of steel products. |
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No. of Employees : |
1002 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
Kiswire Co Ltd
KIS Wire Bldg.,
475, Mangmi 2-Dong, Suyeong-Gu
Sooyoung-Gu
Busan, 613701
Korea, Republic of
Tel: 82-51-7601700
Fax: 82-51-7577379
Web: www.kiswire.com
Seoul
Offices
20th Fl, Jangkyo Bldg. 1,
Jangkyo-Dong Chung-Ku, Seoul, Korea
Synthesis
Employees: 1002
Company Type: Public Parent
Corporate Family: 9
Companies
Traded: Korea
Stock Exchange: 002240
Incorporation Date:
02-Sep-1945
Auditor: PricewaterhouseCoopers
LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales: 992.7
1
Net Income: 37.7
Total Assets: 1,701.0 2
Market Value: 436.6 (14-Jun-2013)
Business Description
KISWIRE.LTD is a Korea-based company engaged in the manufacture of steel products. The Company produces wire ropes, spring wires, prestressed concrete (PC) wires and strands, and steel cords and bear wires. Its wire ropes include cross laid wire ropes, parallel laid wire ropes, swaged wire ropes, non rotating wire ropes, elevator wire ropes, suspension bridge wire ropes and others. Its spring wires include hard drawn steel wires, music wires, piano wires and silk wires. Its PC wires and strands are used for bridges, buildings, railway sleepers, anchors and concrete pipes. Its steel cords and bear wires are used as tire strengthen materials. It also provides oil tempered wires, shape wires, galvanized steel wires and others. In addition, it engages in the leasing of real estate. For the three months ended 31 March 2013, Kiswire Co Ltd revenues decreased 11% to W239.56B. Net income decreased 95% to W670.8M. Revenues reflect Timber segment decrease of 11% to W133.57B, Rope segment decrease of 15% to W86.58B. Net income also reflects Timber segment income decrease of 56% to W2.12B, Rope segment income decrease of 42% to W3.21B, Other segment income decrease of 14% to W3.48B.
Industry
Industry Construction - Supplies and Fixtures
ANZSIC 2006: 2291 - Spring and
Wire Product Manufacturing
NACE 2002: 2734 - Wire
drawing
NAICS 2002: 331222 - Steel
Wire Drawing
UK SIC 2003: 2734 - Wire drawing
UK SIC 2007: 2434 - Cold
drawing of wire
US SIC 1987: 3315 - Steel
Wiredrawing and Steel Nails and Spikes
Key Executives
|
Name |
Title |
|
Yeong Cheol Hong |
Chairman of the Board, Co-Chief Executive Officer |
|
Su Seong Choi |
Internal Auditor |
|
Sang Hong Kim |
IR Contact Officer |
|
Jong Seol Hong |
Non-Executive Independent Director |
|
Hae Su Jang |
Assistant Managing Director |
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
KIS Wire Bldg.,
475, Mangmi 2-Dong, Suyeong-Gu
Sooyoung-Gu
Busan, 613701
Korea, Republic of
Tel: 82-51-7601700
Fax: 82-51-7577379
Web: www.kiswire.com
Quote Symbol - Exchange
002240 - Korea
Stock Exchange
Sales KRW(mil): 1,118,626.4
Assets KRW(mil): 1,813,977.8
Employees: 1002
Fiscal Year End: 31-Dec-2012
Industry: Construction
- Supplies and Fixtures
Incorporation Date: 02-Sep-1945
Company Type: Public
Parent
Quoted Status: Quoted
Chairman of the
Board, Co-Chief Executive Officer:
Yeong Cheol Hong
Industry Codes
ANZSIC 2006 Codes:
2291 - Spring and Wire Product Manufacturing
2110 - Iron Smelting and Steel Manufacturing
6712 - Non-Residential Property Operators
NACE 2002 Codes:
2734 - Wire drawing
2874 - Manufacture of fasteners, screw machine products, chains
and springs
2732 - Cold rolling of narrow strip
7020 - Letting of own property
NAICS 2002 Codes:
331222 - Steel Wire Drawing
332611 - Spring (Heavy Gauge) Manufacturing
331221 - Rolled Steel Shape Manufacturing
531120 - Lessors of Nonresidential Buildings (except Miniwarehouses)
US SIC 1987:
3315 - Steel Wiredrawing and Steel Nails and Spikes
6512 - Operators of Nonresidential Buildings
3493 - Steel Springs, Except Wire
3316 - Cold-Rolled Steel Sheet, Strip, and Bars
UK SIC 2003:
2734 - Wire drawing
2874 - Manufacture of fasteners, screw machine products, chains
and springs
2732 - Cold rolling of narrow strip
70209 - Other letting of own property
UK SIC 2007:
2434 - Cold drawing of wire
2594 - Manufacture of fasteners and screw machine products
2432 - Cold rolling of narrow strip
68209 - Letting and operating of own or leased real estate (other
than Housing Association real estate and conference and exhibition services)
n.e.c.
Business
Description
KISWIRE.LTD is a
Korea-based company engaged in the manufacture of steel products. The Company
produces wire ropes, spring wires, prestressed concrete (PC) wires and strands,
and steel cords and bear wires. Its wire ropes include cross laid wire ropes,
parallel laid wire ropes, swaged wire ropes, non rotating wire ropes, elevator
wire ropes, suspension bridge wire ropes and others. Its spring wires include
hard drawn steel wires, music wires, piano wires and silk wires. Its PC wires
and strands are used for bridges, buildings, railway sleepers, anchors and
concrete pipes. Its steel cords and bear wires are used as tire strengthen
materials. It also provides oil tempered wires, shape wires, galvanized steel
wires and others. In addition, it engages in the leasing of real estate. For
the three months ended 31 March 2013, Kiswire Co Ltd revenues decreased 11% to
W239.56B. Net income decreased 95% to W670.8M. Revenues reflect Timber segment
decrease of 11% to W133.57B, Rope segment decrease of 15% to W86.58B. Net
income also reflects Timber segment income decrease of 56% to W2.12B, Rope
segment income decrease of 42% to W3.21B, Other segment income decrease of 14%
to W3.48B.
More Business
Descriptions
· Manufacture of wire rope and electric cable
· Communication and Energy Wire and Cable Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Kiswire
Co Ltd |
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Kiswire Co Ltd |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Busan |
Korea, Republic of |
Construction - Supplies and Fixtures |
992.7 |
1002 |
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Subsidiary |
Pasir Gudang, Johor |
Malaysia |
Miscellaneous Fabricated Products |
278.4 |
750 |
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Subsidiary |
Pasir Gudang, Johor |
Malaysia |
Textiles - Non Apparel |
196.3 |
450 |
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Subsidiary |
Pasir Gudang, Johor |
Malaysia |
Textiles - Non Apparel |
186.5 |
650 |
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Subsidiary |
Qingdao, Shandong |
China |
Iron and Steel |
37.7 |
300 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Food Processing |
18.6 |
79 |
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Subsidiary |
Taejon, Taejon |
Korea, Republic of |
Construction - Supplies and Fixtures |
22.5 |
47 |
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Subsidiary |
Gorinchem, Zuid-Holland |
Netherlands |
Miscellaneous Capital Goods |
36.3 |
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Subsidiary |
Gorinchem, Zuid-Holland |
Netherlands |
Miscellaneous Capital Goods |
36.3 |
4 |
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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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Non-Executive Independent Director |
Chairman |
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Vice 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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Assistant Managing Director |
Director/Board Member |
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President, Co-Chief Executive Officer,
Director |
Director/Board Member |
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Vice President, Director |
Director/Board Member |
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Vice President, Director |
Director/Board Member |
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Assistant Managing 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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Executives |
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Chairman of the Board, Co-Chief Executive
Officer |
Chief Executive Officer |
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President, Co-Chief Executive Officer,
Director |
Chief Executive Officer |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Internal Auditor |
Accounting Executive |
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IR Contact Officer |
Investor Relations Executive |
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Significant Developments
KIS Wire Co., Ltd. Declares Annual Cash Dividend for FY 2012 Feb 18, 2013
KIS Wire Co., Ltd. announced that it has declared an annual cash dividend of KRW 350 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 1.15% and the total amount of the cash dividend is KRW 5,248,857,950. The dividend payment date is April 15, 2013.
KIS Wire Co., Ltd. Announces Changes in Shareholding Structure Jan 30, 2013
KIS Wire Co., Ltd. announced that SHINYOUNG ASSET MANAGEMENT CO., LTD. has acquired 750,654 shares of the Company, representing a 5.00% stake.
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 |
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
982.4 |
1,011.0 |
893.4 |
851.3 |
1,004.0 |
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Revenue |
982.4 |
1,011.0 |
893.4 |
851.3 |
1,004.0 |
|
Other Revenue |
10.3 |
8.0 |
- |
- |
- |
|
Other Revenue, Total |
10.3 |
8.0 |
- |
- |
- |
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Total Revenue |
992.7 |
1,019.0 |
893.4 |
851.3 |
1,004.0 |
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|
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|
|
|
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Cost of Revenue |
834.3 |
822.4 |
716.1 |
666.4 |
766.1 |
|
Cost of Revenue, Total |
834.3 |
822.4 |
716.1 |
666.4 |
766.1 |
|
Gross Profit |
148.1 |
188.6 |
177.3 |
184.9 |
237.9 |
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Selling/General/Administrative Expense |
84.8 |
77.5 |
74.1 |
68.0 |
55.0 |
|
Labor & Related Expense |
23.9 |
23.4 |
19.7 |
22.9 |
28.9 |
|
Advertising Expense |
1.7 |
1.2 |
1.1 |
0.9 |
0.8 |
|
Total Selling/General/Administrative Expenses |
110.4 |
102.1 |
94.8 |
91.8 |
84.7 |
|
Research & Development |
- |
- |
- |
3.0 |
3.1 |
|
Depreciation |
2.6 |
2.9 |
2.6 |
7.6 |
30.8 |
|
Amortization of Intangibles |
- |
- |
- |
0.0 |
0.0 |
|
Depreciation/Amortization |
2.6 |
2.9 |
2.6 |
7.6 |
30.8 |
|
Impairment-Assets Held for Use |
- |
- |
1.1 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.0 |
- |
- |
|
Unusual Expense (Income) |
- |
- |
1.1 |
- |
- |
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Other Operating Expense |
- |
- |
3.1 |
- |
- |
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Other, Net |
- |
- |
-12.0 |
- |
- |
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Other Operating Expenses, Total |
- |
- |
-8.8 |
- |
- |
|
Total Operating Expense |
947.2 |
927.4 |
805.9 |
768.8 |
884.8 |
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Operating Income |
45.5 |
91.6 |
87.6 |
82.5 |
119.2 |
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Interest Expense -
Non-Operating |
-6.5 |
-4.6 |
-5.0 |
-5.4 |
-8.6 |
|
Interest Expense, Net Non-Operating |
-6.5 |
-4.6 |
-5.0 |
-5.4 |
-8.6 |
|
Interest Income -
Non-Operating |
1.9 |
1.3 |
0.8 |
2.3 |
3.1 |
|
Investment Income -
Non-Operating |
22.8 |
29.4 |
34.8 |
17.9 |
21.1 |
|
Interest/Investment Income - Non-Operating |
24.7 |
30.7 |
35.6 |
20.2 |
24.2 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
18.2 |
26.1 |
30.6 |
14.8 |
15.7 |
|
Gain (Loss) on Sale of Assets |
-1.0 |
2.1 |
- |
-1.6 |
-1.6 |
|
Other Non-Operating Income (Expense) |
1.0 |
3.0 |
0.0 |
6.4 |
10.9 |
|
Other, Net |
1.0 |
3.0 |
0.0 |
6.4 |
10.9 |
|
Income Before Tax |
63.7 |
122.9 |
118.2 |
102.2 |
144.2 |
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|
|
|
|
|
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Total Income Tax |
24.8 |
26.0 |
23.9 |
30.9 |
27.3 |
|
Income After Tax |
38.9 |
96.8 |
94.3 |
71.3 |
116.9 |
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Minority Interest |
-1.2 |
-11.9 |
-11.8 |
-9.3 |
-17.8 |
|
Net Income Before Extraord Items |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
Net Income |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
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Income Available to Common Excl Extraord Items |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
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|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
Basic EPS Excl Extraord Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
Basic/Primary EPS Incl Extraord Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
Diluted Net Income |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
Diluted Weighted Average Shares |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
Diluted EPS Excl Extraord Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
Diluted EPS Incl Extraord Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
Dividends per Share - Common Stock Primary Issue |
0.31 |
0.27 |
0.26 |
0.24 |
0.21 |
|
Gross Dividends - Common Stock |
4.7 |
4.1 |
3.9 |
3.6 |
3.2 |
|
Interest Expense, Supplemental |
6.5 |
4.6 |
5.0 |
5.4 |
8.6 |
|
Depreciation, Supplemental |
60.7 |
53.9 |
47.1 |
55.0 |
54.9 |
|
Total Special Items |
1.0 |
-2.1 |
1.1 |
1.6 |
1.6 |
|
Normalized Income Before Tax |
64.7 |
120.7 |
119.3 |
103.8 |
145.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.4 |
-0.5 |
0.2 |
0.5 |
0.3 |
|
Inc Tax Ex Impact of Sp Items |
25.2 |
25.6 |
24.2 |
31.4 |
27.6 |
|
Normalized Income After Tax |
39.5 |
95.2 |
95.1 |
72.4 |
118.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
38.3 |
83.3 |
83.4 |
63.0 |
100.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.55 |
5.55 |
5.56 |
4.20 |
6.69 |
|
Diluted Normalized EPS |
2.55 |
5.55 |
5.56 |
4.20 |
6.69 |
|
Amort of Intangibles, Supplemental |
0.8 |
0.8 |
0.8 |
0.7 |
0.0 |
|
Rental Expenses |
0.0 |
0.0 |
- |
1.0 |
0.8 |
|
Advertising Expense, Supplemental |
1.7 |
1.2 |
1.1 |
0.9 |
0.8 |
|
Research & Development Exp, Supplemental |
- |
- |
- |
3.0 |
3.1 |
|
Normalized EBIT |
45.5 |
91.6 |
88.7 |
82.5 |
119.2 |
|
Normalized EBITDA |
107.0 |
146.3 |
136.6 |
138.2 |
174.2 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
42.1 |
44.8 |
39.2 |
61.4 |
66.9 |
|
Short Term Investments |
30.4 |
25.7 |
21.3 |
61.0 |
31.0 |
|
Cash and Short Term Investments |
72.5 |
70.4 |
60.5 |
122.5 |
97.9 |
|
Accounts Receivable -
Trade, Gross |
239.5 |
243.6 |
221.9 |
203.8 |
176.2 |
|
Provision for Doubtful
Accounts |
-2.4 |
-1.6 |
-3.1 |
-4.7 |
-2.3 |
|
Trade Accounts Receivable - Net |
237.6 |
242.3 |
219.0 |
199.6 |
174.2 |
|
Other Receivables |
7.8 |
8.0 |
7.3 |
10.6 |
41.0 |
|
Total Receivables, Net |
245.4 |
250.4 |
226.4 |
210.2 |
215.2 |
|
Inventories - Finished Goods |
64.7 |
69.2 |
48.3 |
53.3 |
59.7 |
|
Inventories - Work In Progress |
26.2 |
26.4 |
27.4 |
28.8 |
21.4 |
|
Inventories - Raw Materials |
92.1 |
101.5 |
89.5 |
52.3 |
70.6 |
|
Inventories - Other |
17.1 |
14.4 |
13.2 |
8.2 |
6.1 |
|
Total Inventory |
200.1 |
211.5 |
178.4 |
142.6 |
157.8 |
|
Prepaid Expenses |
3.9 |
2.7 |
2.0 |
1.6 |
2.7 |
|
Other Current Assets |
0.4 |
1.1 |
0.5 |
0.2 |
0.3 |
|
Other Current Assets, Total |
0.4 |
1.1 |
0.5 |
0.2 |
0.3 |
|
Total Current Assets |
522.3 |
536.1 |
467.7 |
477.2 |
474.0 |
|
|
|
|
|
|
|
|
Buildings |
209.7 |
152.0 |
139.5 |
154.4 |
171.6 |
|
Land/Improvements |
138.2 |
125.9 |
112.3 |
197.4 |
135.3 |
|
Machinery/Equipment |
533.5 |
418.3 |
392.4 |
370.7 |
173.9 |
|
Construction in
Progress |
24.7 |
51.1 |
36.9 |
14.7 |
2.9 |
|
Other
Property/Plant/Equipment |
30.8 |
26.3 |
25.7 |
91.7 |
236.2 |
|
Property/Plant/Equipment - Gross |
936.9 |
773.6 |
706.8 |
828.9 |
719.8 |
|
Accumulated Depreciation |
-318.8 |
-258.6 |
-229.2 |
-345.9 |
-285.3 |
|
Property/Plant/Equipment - Net |
618.1 |
514.9 |
477.6 |
482.9 |
434.5 |
|
Goodwill, Net |
- |
- |
- |
- |
0.0 |
|
Intangibles, Net |
5.9 |
7.4 |
7.3 |
2.4 |
0.0 |
|
LT Investment - Affiliate Companies |
406.0 |
374.8 |
355.5 |
224.3 |
187.7 |
|
LT Investments - Other |
94.8 |
101.9 |
107.3 |
21.7 |
8.4 |
|
Long Term Investments |
500.8 |
476.8 |
462.8 |
245.9 |
196.0 |
|
Note Receivable - Long Term |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
1.4 |
1.1 |
1.1 |
- |
- |
|
Other Long Term Assets |
52.4 |
46.4 |
45.3 |
8.1 |
12.2 |
|
Other Long Term Assets, Total |
53.8 |
47.5 |
46.4 |
8.1 |
12.2 |
|
Total Assets |
1,701.0 |
1,582.7 |
1,461.8 |
1,216.6 |
1,116.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
97.6 |
104.9 |
91.6 |
101.5 |
129.3 |
|
Accrued Expenses |
20.3 |
16.3 |
22.0 |
10.9 |
16.8 |
|
Notes Payable/Short Term Debt |
171.8 |
139.7 |
119.1 |
77.5 |
129.6 |
|
Current Portion - Long Term Debt/Capital Leases |
18.2 |
19.0 |
15.8 |
- |
2.2 |
|
Customer Advances |
6.6 |
15.6 |
12.9 |
2.8 |
1.2 |
|
Security Deposits |
4.9 |
4.4 |
5.0 |
2.0 |
0.8 |
|
Income Taxes Payable |
3.1 |
8.0 |
5.7 |
4.7 |
20.8 |
|
Other Payables |
15.0 |
14.6 |
13.9 |
51.1 |
18.0 |
|
Deferred Income Tax - Current Liability |
- |
- |
- |
1.0 |
0.6 |
|
Other Current Liabilities |
5.7 |
7.2 |
0.9 |
4.9 |
5.8 |
|
Other Current liabilities, Total |
35.3 |
49.7 |
38.3 |
66.4 |
47.3 |
|
Total Current Liabilities |
343.2 |
329.6 |
286.8 |
256.3 |
325.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
34.5 |
28.6 |
45.9 |
58.8 |
62.5 |
|
Total Long Term Debt |
34.5 |
28.6 |
45.9 |
58.8 |
62.5 |
|
Total Debt |
224.5 |
187.2 |
180.8 |
136.3 |
194.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
131.0 |
109.6 |
103.4 |
89.3 |
67.6 |
|
Deferred Income Tax |
131.0 |
109.6 |
103.4 |
89.3 |
67.6 |
|
Minority Interest |
108.8 |
103.8 |
79.9 |
95.2 |
70.6 |
|
Reserves |
2.8 |
2.6 |
2.3 |
1.8 |
- |
|
Pension Benefits - Underfunded |
4.3 |
4.2 |
3.5 |
2.9 |
3.1 |
|
Other Long Term Liabilities |
4.6 |
4.1 |
1.8 |
2.2 |
1.2 |
|
Other Liabilities, Total |
11.7 |
11.0 |
7.5 |
6.8 |
4.3 |
|
Total Liabilities |
629.2 |
582.5 |
523.6 |
506.4 |
530.1 |
|
|
|
|
|
|
|
|
Common Stock |
14.1 |
11.3 |
11.5 |
11.2 |
7.9 |
|
Common Stock |
14.1 |
11.3 |
11.5 |
11.2 |
7.9 |
|
Additional Paid-In Capital |
2.4 |
2.4 |
2.4 |
104.7 |
97.7 |
|
Retained Earnings (Accumulated Deficit) |
972.1 |
869.1 |
807.4 |
515.2 |
415.8 |
|
Treasury Stock - Common |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Unrealized Gain (Loss) |
81.6 |
102.2 |
102.1 |
63.4 |
43.3 |
|
Translation Adjustment |
1.7 |
15.3 |
15.0 |
15.8 |
22.0 |
|
Other Equity |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Comprehensive Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Equity, Total |
1.7 |
15.3 |
15.0 |
15.8 |
22.0 |
|
Total Equity |
1,071.8 |
1,000.2 |
938.3 |
710.3 |
586.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,701.0 |
1,582.7 |
1,461.8 |
1,216.6 |
1,116.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
Total Common Shares Outstanding |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
1,002 |
958 |
871 |
765 |
724 |
|
Number of Common Shareholders |
- |
- |
2,675 |
2,567 |
2,429 |
|
Accumulated Intangible Amort, Suppl. |
3.5 |
2.4 |
1.6 |
- |
- |
|
Deferred Revenue - Current |
6.6 |
15.6 |
12.9 |
2.8 |
1.2 |
|
Deferred Revenue - Long Term |
1.7 |
1.7 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
227.7 |
- |
182.3 |
- |
2.2 |
|
Long Term Debt Maturing within 1 Year |
192.1 |
- |
135.4 |
- |
2.2 |
|
Long Term Debt Maturing in Year 2 |
20.3 |
- |
17.5 |
- |
- |
|
Long Term Debt Maturing in Year 3 |
4.3 |
- |
9.6 |
- |
- |
|
Long Term Debt Maturing in Year 4 |
4.3 |
- |
9.6 |
- |
- |
|
Long Term Debt Maturing in Year 5 |
4.3 |
- |
9.6 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
24.6 |
- |
27.0 |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
8.6 |
- |
19.2 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
2.3 |
- |
0.6 |
- |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
63.7 |
122.9 |
118.2 |
71.3 |
116.9 |
|
Depreciation |
61.5 |
54.8 |
47.1 |
55.0 |
54.9 |
|
Depreciation/Depletion |
61.5 |
54.8 |
47.1 |
55.0 |
54.9 |
|
Amortization of Intangibles |
0.8 |
0.8 |
0.8 |
0.7 |
0.0 |
|
Amortization |
0.8 |
0.8 |
0.8 |
0.7 |
0.0 |
|
Deferred Taxes |
- |
- |
- |
3.7 |
-7.2 |
|
Unusual Items |
-3.4 |
-0.1 |
0.0 |
-4.8 |
-0.7 |
|
Equity in Net Earnings (Loss) |
-13.0 |
-27.5 |
-30.9 |
-12.9 |
-15.0 |
|
Other Non-Cash Items |
5.2 |
6.0 |
1.3 |
7.4 |
6.8 |
|
Non-Cash Items |
-11.1 |
-21.7 |
-29.5 |
-10.3 |
-8.9 |
|
Accounts Receivable |
8.3 |
-25.5 |
-12.3 |
48.2 |
-78.6 |
|
Inventories |
20.7 |
-36.4 |
-37.9 |
20.6 |
-46.1 |
|
Prepaid Expenses |
-3.5 |
-2.8 |
-1.0 |
1.4 |
0.0 |
|
Other Assets |
1.2 |
0.3 |
0.2 |
0.1 |
-1.1 |
|
Accounts Payable |
-2.8 |
15.1 |
-37.6 |
-43.7 |
86.5 |
|
Accrued Expenses |
3.0 |
1.0 |
1.6 |
10.7 |
10.2 |
|
Taxes Payable |
- |
0.0 |
0.0 |
-15.8 |
14.9 |
|
Other Liabilities |
-15.6 |
-0.6 |
10.0 |
-3.3 |
-4.9 |
|
Other Operating Cash Flow |
-19.6 |
-15.6 |
-15.5 |
2.3 |
1.6 |
|
Changes in Working Capital |
-8.2 |
-64.5 |
-92.4 |
20.5 |
-17.6 |
|
Cash from Operating Activities |
106.7 |
92.3 |
44.2 |
141.0 |
138.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-150.4 |
-116.2 |
-97.2 |
-79.9 |
-125.7 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
-1.5 |
- |
- |
|
Capital Expenditures |
-150.4 |
-116.2 |
-98.7 |
-79.9 |
-125.7 |
|
Sale of Fixed Assets |
12.3 |
16.9 |
6.5 |
2.9 |
1.4 |
|
Sale/Maturity of Investment |
4.9 |
10.2 |
9.0 |
29.2 |
36.7 |
|
Purchase of Investments |
-2.8 |
-17.5 |
-6.2 |
-50.2 |
-43.4 |
|
Sale of Intangible Assets |
0.4 |
0.4 |
0.1 |
0.0 |
- |
|
Other Investing Cash Flow |
-4.3 |
1.7 |
0.4 |
0.9 |
-0.5 |
|
Other Investing Cash Flow Items, Total |
10.6 |
11.7 |
9.8 |
-17.2 |
-5.8 |
|
Cash from Investing Activities |
-139.8 |
-104.5 |
-89.0 |
-97.1 |
-131.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
15.2 |
1.9 |
9.2 |
4.8 |
|
Financing Cash Flow Items |
- |
15.2 |
1.9 |
9.2 |
4.8 |
|
Cash Dividends Paid - Common |
-4.0 |
-4.1 |
-3.9 |
-2.7 |
-3.2 |
|
Total Cash Dividends Paid |
-4.0 |
-4.1 |
-3.9 |
-2.7 |
-3.2 |
|
Sale/Issuance of
Common |
0.0 |
- |
- |
- |
- |
|
Repurchase/Retirement
of Common |
0.0 |
- |
- |
0.0 |
- |
|
Common Stock, Net |
0.0 |
- |
- |
0.0 |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
- |
- |
0.0 |
- |
|
Short Term Debt Issued |
- |
- |
- |
58.1 |
46.9 |
|
Short Term Debt
Reduction |
- |
- |
- |
-139.6 |
-40.5 |
|
Short Term Debt, Net |
- |
- |
- |
-81.5 |
6.4 |
|
Long Term Debt Issued |
- |
- |
- |
21.5 |
29.9 |
|
Long Term Debt
Reduction |
- |
- |
- |
-0.3 |
-2.3 |
|
Long Term Debt, Net |
- |
- |
- |
21.2 |
27.6 |
|
Total Debt Issued |
469.8 |
521.7 |
260.1 |
- |
- |
|
Total Debt Reduction |
-438.6 |
-514.3 |
-222.3 |
- |
- |
|
Issuance (Retirement) of Debt, Net |
31.2 |
7.4 |
37.8 |
-60.3 |
34.0 |
|
Cash from Financing Activities |
27.1 |
18.5 |
35.7 |
-53.8 |
35.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Change in Cash |
-5.9 |
6.3 |
-9.1 |
-10.0 |
42.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
45.8 |
40.2 |
47.6 |
66.0 |
34.3 |
|
Net Cash - Ending Balance |
39.8 |
46.6 |
38.5 |
56.0 |
76.6 |
|
Cash Interest Paid |
6.4 |
4.9 |
4.9 |
- |
- |
|
Cash Taxes Paid |
17.8 |
15.0 |
13.2 |
- |
- |
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 |
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 |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Goods Revenues |
719.4 |
750.2 |
668.7 |
686.8 |
846.0 |
|
Merchandise Sales |
227.3 |
225.4 |
191.8 |
138.2 |
129.0 |
|
Processing Revenue |
- |
0.0 |
0.0 |
0.1 |
0.0 |
|
Commissions Revenue |
30.2 |
29.5 |
27.2 |
21.5 |
24.8 |
|
Rental Revenue |
5.4 |
5.9 |
5.8 |
4.8 |
4.2 |
|
Other Revenue |
10.3 |
8.0 |
- |
- |
- |
|
Adj. for Revenues |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Revenue |
992.7 |
1,019.0 |
893.4 |
851.3 |
1,004.0 |
|
|
|
|
|
|
|
|
Cost of Finished Goods Sold |
- |
- |
- |
552.8 |
574.3 |
|
Cost of Merchandises Sold |
- |
- |
- |
111.8 |
189.5 |
|
Cost of Rental |
- |
- |
- |
1.8 |
2.2 |
|
Costs of Goods & Services Sold |
834.3 |
822.4 |
716.1 |
- |
- |
|
Salaries & Wages |
19.2 |
19.0 |
15.8 |
14.4 |
20.1 |
|
Retirement & Severance Benefits |
1.1 |
0.9 |
0.8 |
1.0 |
1.9 |
|
Employee Benefits |
3.6 |
3.6 |
3.0 |
3.9 |
3.1 |
|
Education & Training |
- |
- |
- |
0.3 |
0.2 |
|
Conference Expense |
- |
- |
- |
0.0 |
0.0 |
|
Travel Expense |
2.8 |
2.7 |
2.4 |
2.0 |
1.8 |
|
Vehicle Maintenance Expense |
- |
- |
- |
0.5 |
0.5 |
|
Communication Expense |
- |
- |
- |
1.0 |
0.9 |
|
Utility Expenses |
- |
- |
- |
0.4 |
0.4 |
|
Consumable Expense |
1.2 |
1.5 |
1.2 |
1.1 |
1.0 |
|
Publication Expense |
- |
- |
- |
0.2 |
0.2 |
|
Taxes & Dues |
- |
- |
- |
1.9 |
1.1 |
|
Rent |
- |
- |
- |
1.0 |
0.8 |
|
Leasing Expense |
- |
- |
- |
0.0 |
0.3 |
|
Depreciation |
2.6 |
2.9 |
2.6 |
7.6 |
30.8 |
|
Repair Expense |
- |
- |
- |
1.1 |
0.9 |
|
Insurance Premiums |
- |
- |
- |
0.5 |
0.5 |
|
Entertainment Expense |
2.5 |
2.5 |
2.0 |
1.4 |
1.8 |
|
Advertising Expense |
1.7 |
1.2 |
1.1 |
0.9 |
0.8 |
|
Commissions |
11.1 |
9.9 |
9.7 |
9.5 |
3.0 |
|
Shipping & Handling Expense |
7.9 |
7.1 |
6.7 |
6.1 |
6.1 |
|
Other Exporting Related Expense |
31.3 |
27.0 |
29.4 |
30.8 |
21.1 |
|
Overseas Mkt Develop |
- |
- |
- |
0.1 |
0.1 |
|
Technology Development Expense |
- |
- |
- |
2.9 |
3.1 |
|
Research & Testing Expense |
- |
- |
- |
0.0 |
- |
|
Amort. of Bad Debts |
- |
- |
- |
2.0 |
0.5 |
|
Market Usage Expense |
- |
- |
- |
1.5 |
1.6 |
|
Promotion Expenses |
- |
- |
- |
3.4 |
3.6 |
|
Pricing Compen. Exp. |
- |
- |
- |
0.1 |
0.1 |
|
Service Expense |
- |
- |
- |
0.5 |
0.9 |
|
Sales Guarantees |
- |
- |
- |
1.7 |
- |
|
Other Payrolls |
- |
- |
- |
0.1 |
0.1 |
|
Prov. Shipping Loss |
- |
- |
- |
0.5 |
0.0 |
|
Other Selling & Administrative Expense |
28.1 |
26.7 |
22.7 |
0.9 |
4.0 |
|
Maintenance Expense |
- |
- |
- |
0.1 |
3.7 |
|
Cargo Work Expenses |
- |
- |
- |
3.1 |
3.5 |
|
Amort. of Intangibless |
- |
- |
- |
0.0 |
0.0 |
|
Adj. for Other Selling & Admin. Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Gain on Disposal of PPT |
- |
- |
-0.2 |
- |
- |
|
Reversal of Allow. for DA |
- |
- |
0.0 |
- |
- |
|
Commission Income |
- |
- |
-1.7 |
- |
- |
|
Miscellaneous Income |
- |
- |
-10.2 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Donations Paid |
- |
- |
0.8 |
- |
- |
|
Loss on Disposal of PPT |
- |
- |
0.3 |
- |
- |
|
Impmt Loss on PPT |
- |
- |
1.1 |
- |
- |
|
Miscellaneous Loss |
- |
- |
2.4 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
947.2 |
927.4 |
805.9 |
768.8 |
884.8 |
|
|
|
|
|
|
|
|
Interest Income |
1.9 |
1.3 |
0.8 |
2.3 |
3.1 |
|
Dividend Income |
0.8 |
0.8 |
0.7 |
0.8 |
0.8 |
|
Rental Income |
- |
0.1 |
- |
0.0 |
0.0 |
|
Gain on Disposal of Intangibless |
- |
0.2 |
- |
- |
- |
|
Gain on Disposal of PPE |
0.1 |
1.9 |
- |
0.1 |
1.0 |
|
Recovery-Tangible Assets Reduction Loss |
- |
- |
- |
- |
0.6 |
|
Gain-Disposal of F.A. Avail. for Sale |
16.6 |
0.2 |
0.1 |
- |
- |
|
Gain Disp of Mkt Sec |
- |
- |
- |
2.7 |
1.3 |
|
Gain-Disposal of Equity Method Sec. |
- |
- |
- |
- |
0.8 |
|
Gain Disp Inv Asset |
- |
- |
- |
0.6 |
0.0 |
|
G-Currency Futures Trade |
- |
- |
- |
1.4 |
0.5 |
|
Gain on Derivatives Transaction |
1.1 |
1.7 |
0.6 |
- |
- |
|
Gain on Valt of Derivatives |
0.4 |
1.0 |
0.5 |
- |
- |
|
Gain-Valuation of Currency Forwards |
- |
- |
- |
0.2 |
- |
|
Gain on Foreign Currency Transaction |
5.4 |
7.8 |
6.3 |
7.2 |
18.1 |
|
Gain on Foreign Currency Translation |
6.6 |
5.1 |
7.1 |
1.5 |
1.7 |
|
Rec. of Impmt Loss on PPE |
- |
0.2 |
- |
- |
- |
|
Rec. of Allow. for DA |
- |
0.1 |
- |
- |
- |
|
Gain on Insurance Settlement |
0.2 |
- |
- |
- |
- |
|
Recovery of Impairment Losses on Intangi |
- |
- |
- |
2.9 |
- |
|
Miscellaneous Income |
2.4 |
3.2 |
- |
6.5 |
14.0 |
|
Commission Income |
1.9 |
2.0 |
- |
1.7 |
2.3 |
|
Interest Expense |
-6.5 |
-4.6 |
-5.0 |
-5.4 |
-8.6 |
|
Loss on Disposal of Intangibless |
0.0 |
- |
- |
- |
- |
|
Loss on Disposal of PPE |
-1.1 |
- |
- |
-0.1 |
-1.2 |
|
L-LT Investment Securities Disposal |
- |
- |
- |
- |
0.0 |
|
L-Currency Futures Trade |
- |
- |
- |
0.0 |
-2.2 |
|
Loss on Foreign Currency Transaction |
-4.9 |
-5.6 |
-8.2 |
-8.9 |
-8.2 |
|
Loss-Reduction of Tangible Assets |
- |
- |
- |
- |
0.0 |
|
Loss on Foreign Currency Translation |
-3.7 |
-6.0 |
-2.0 |
-1.8 |
-4.7 |
|
Loss-Depletion of inventory |
- |
- |
- |
-0.1 |
0.0 |
|
Loss-Disposal of F.A. Avail. for Sale |
-0.1 |
0.0 |
-0.1 |
- |
- |
|
Loss on Disposal of Invmt in Affiliates |
-9.4 |
- |
- |
- |
- |
|
L-ST Investment Asset Disposal |
- |
- |
- |
-0.3 |
-1.7 |
|
Loss on Valt of Derivatives |
- |
-0.3 |
-0.3 |
- |
- |
|
Loss on Derivative Transaction |
0.0 |
-0.7 |
-0.7 |
- |
- |
|
Impmt Loss on PPE |
0.0 |
- |
- |
- |
- |
|
Impmt Loss on Intangibless |
-0.8 |
- |
- |
- |
- |
|
Impmt Loss-Fincl Instrm Avail. for Sale |
-2.0 |
-2.4 |
- |
- |
- |
|
Loss-Reduction of Investment Assets |
- |
- |
- |
-1.2 |
- |
|
Miscellaneous Loss |
-2.7 |
-1.7 |
- |
-1.6 |
-5.8 |
|
L-Trade Receivable Disposal |
- |
- |
- |
-1.6 |
-1.4 |
|
Rental Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Donations Paid |
-0.8 |
-0.6 |
- |
-0.1 |
-0.2 |
|
Gain under Equity Method |
- |
- |
- |
18.2 |
18.5 |
|
Loss under Equity Method |
- |
- |
- |
-5.3 |
-3.5 |
|
Invmt in Affiliates & Venture |
13.0 |
27.5 |
30.9 |
- |
- |
|
Adj. for Finance Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Finance Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj for Other Non-Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Adj for Other Non-Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
63.7 |
122.9 |
118.2 |
102.2 |
144.2 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
24.8 |
26.0 |
23.9 |
30.9 |
27.3 |
|
Net Income After Taxes |
38.9 |
96.8 |
94.3 |
71.3 |
116.9 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.2 |
-11.9 |
-11.8 |
-9.3 |
-17.8 |
|
Net Income Before Extra. Items |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
Net Income |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
Basic EPS Including ExtraOrdinary Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
Diluted Net Income |
37.7 |
84.9 |
82.5 |
61.9 |
99.1 |
|
Diluted Weighted Average Shares |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
Diluted EPS Excluding ExtraOrd Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
Diluted EPS Including ExtraOrd Items |
2.51 |
5.66 |
5.50 |
4.13 |
6.61 |
|
DPS-Common Stock |
0.31 |
0.27 |
0.26 |
0.24 |
0.21 |
|
Gross Dividends - Common Stock |
4.7 |
4.1 |
3.9 |
3.6 |
3.2 |
|
Normalized Income Before Taxes |
64.7 |
120.7 |
119.3 |
103.8 |
145.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
25.2 |
25.6 |
24.2 |
31.4 |
27.6 |
|
Normalized Income After Taxes |
39.5 |
95.2 |
95.1 |
72.4 |
118.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
38.3 |
83.3 |
83.4 |
63.0 |
100.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.55 |
5.55 |
5.56 |
4.20 |
6.69 |
|
Diluted Normalized EPS |
2.55 |
5.55 |
5.56 |
4.20 |
6.69 |
|
R&D Expense, Supplemental |
- |
- |
- |
3.0 |
3.1 |
|
Advertising Expense, Supplemental |
1.7 |
1.2 |
1.1 |
0.9 |
0.8 |
|
Interest Expense, Supplemental |
6.5 |
4.6 |
5.0 |
5.4 |
8.6 |
|
Amort of Intangibles, Supplemental |
0.8 |
0.8 |
0.8 |
0.7 |
0.0 |
|
Rental Expense, Supplemental |
0.0 |
0.0 |
- |
1.0 |
0.8 |
|
Depreciation, Supplemental |
60.7 |
53.9 |
47.1 |
55.0 |
54.9 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
ST Finl Assets |
- |
- |
- |
13.4 |
12.1 |
|
Cash & Cash Equivalents |
42.1 |
44.8 |
39.2 |
61.4 |
66.9 |
|
Current Securities Available-for-Sale |
15.0 |
15.4 |
8.4 |
- |
- |
|
Current Fincl Deposits |
15.4 |
10.3 |
12.9 |
- |
- |
|
ST Investment Assets |
- |
- |
- |
47.6 |
19.0 |
|
Adj. for Other Fincl Instrm |
0.0 |
0.0 |
0.0 |
- |
- |
|
Current Loans |
0.1 |
0.1 |
0.2 |
0.1 |
- |
|
Adj. for Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Trade Receivable, Gross |
239.5 |
243.6 |
221.9 |
203.8 |
176.2 |
|
Allow. for DA for Trade Receivable |
-2.4 |
-1.6 |
-3.1 |
-4.7 |
-2.3 |
|
Account Receivable |
7.7 |
7.9 |
7.2 |
10.4 |
40.9 |
|
Adj. for Trade & Other Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Receivable-Recovery of Taxes |
- |
- |
- |
0.0 |
0.1 |
|
Advance Payments |
5.4 |
3.8 |
4.2 |
3.4 |
2.9 |
|
Prepaid Expense |
1.3 |
1.5 |
1.3 |
1.6 |
2.7 |
|
Prepaid Income Taxes |
2.6 |
1.2 |
0.7 |
- |
- |
|
Current Derivative Assets |
0.4 |
1.0 |
0.5 |
- |
- |
|
Currency Futures, Current Assets |
- |
- |
- |
0.2 |
- |
|
Accrued Income |
0.4 |
0.3 |
0.2 |
0.6 |
0.3 |
|
Other Current Assets |
- |
0.1 |
- |
- |
0.3 |
|
Merchandises |
25.4 |
22.8 |
12.4 |
16.3 |
13.8 |
|
Finished Goods |
39.6 |
46.3 |
35.9 |
37.1 |
46.0 |
|
Allow. for Loss-Valt of Finished Goods |
-0.3 |
- |
- |
- |
- |
|
Work in Progress |
26.2 |
26.4 |
27.4 |
28.8 |
21.4 |
|
Raw Materials |
52.0 |
65.3 |
59.1 |
49.9 |
65.8 |
|
Supplies |
11.7 |
10.6 |
9.0 |
4.8 |
3.2 |
|
Raw Materials in Transit, Current |
40.0 |
36.2 |
30.3 |
2.4 |
4.8 |
|
Adj. for Inventories |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
522.3 |
536.1 |
467.7 |
477.2 |
474.0 |
|
|
|
|
|
|
|
|
Non-Current Trade Receivable |
0.0 |
- |
- |
- |
- |
|
LT Finl Assets |
- |
- |
- |
0.2 |
0.5 |
|
Non-Current Fincl Deposits |
0.0 |
0.0 |
0.2 |
- |
- |
|
Invmt in Properties |
73.5 |
68.9 |
70.8 |
19.5 |
6.0 |
|
Other Non-Current Financial Instruments |
21.3 |
33.0 |
36.2 |
- |
- |
|
Other Non-Current Invmt Assets |
- |
0.0 |
- |
1.9 |
1.9 |
|
Equity Method Investment Securities |
- |
- |
- |
224.3 |
187.7 |
|
Invmt in Afflt Co. & JV |
406.0 |
374.8 |
355.5 |
- |
- |
|
Non-Current Loans |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Adj. for LT Trade & Other Receivable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Guarantee Deposits, Non-Current Assets |
6.2 |
5.5 |
4.6 |
8.0 |
12.2 |
|
Non-Current Prepaid Expense |
46.2 |
40.9 |
40.7 |
- |
- |
|
Others in Other Non-Current Assets |
- |
- |
- |
0.0 |
- |
|
Non-Current Deferred Income Taxes Assets |
1.4 |
1.1 |
1.1 |
- |
- |
|
Lands |
138.2 |
125.9 |
112.3 |
197.4 |
135.3 |
|
Buildings |
191.0 |
138.6 |
129.0 |
145.8 |
163.4 |
|
Buildings-Depreciation |
-44.3 |
-35.8 |
-31.1 |
-37.1 |
-31.2 |
|
Structures |
18.7 |
13.4 |
10.6 |
8.7 |
8.2 |
|
Structures-Depreciation |
-5.9 |
-4.5 |
-3.8 |
-4.5 |
-4.1 |
|
Structures-Government Subsidy |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Machineries & Equipments |
534.4 |
419.1 |
393.5 |
368.2 |
171.8 |
|
Machineries & Equipments-Depreciation |
-268.6 |
-218.4 |
-194.3 |
-229.9 |
-106.6 |
|
Machineries & Equipments-Reduction |
-0.9 |
-0.9 |
-1.1 |
- |
- |
|
Transport Equip. |
- |
- |
- |
2.5 |
2.0 |
|
Transport Deprec |
- |
- |
- |
-2.0 |
-1.4 |
|
Other Property Plant & Equipment |
130.5 |
107.3 |
95.9 |
91.7 |
236.2 |
|
Other Tangibles-Depreciation |
-99.7 |
-81.0 |
-70.2 |
- |
- |
|
Other Tangibles-Depreciation |
- |
- |
- |
-72.4 |
-141.9 |
|
Construction in Progress |
24.7 |
51.1 |
36.9 |
14.7 |
2.9 |
|
Adj. for Property, Plant & Equipment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Intangibless |
0.1 |
0.0 |
0.0 |
2.4 |
0.0 |
|
Development Costs |
- |
0.8 |
1.6 |
- |
- |
|
Membership Rights |
5.8 |
6.6 |
5.6 |
- |
- |
|
Telecommunication Enrollment Rights |
0.0 |
0.0 |
0.0 |
- |
- |
|
Adj. for Intangibless |
0.0 |
0.0 |
0.0 |
- |
- |
|
Goodwill |
- |
- |
- |
- |
0.0 |
|
Adj. for Other Non-Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Non-Current Assets |
0.0 |
- |
- |
- |
- |
|
Total Assets |
1,701.0 |
1,582.7 |
1,461.8 |
1,216.6 |
1,116.9 |
|
|
|
|
|
|
|
|
Trade Payable |
97.6 |
104.9 |
91.6 |
101.5 |
129.3 |
|
Other Payable |
15.0 |
14.6 |
13.9 |
51.1 |
18.0 |
|
Adj. for Current Trade & Other Payable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Income Taxes Payable |
3.1 |
8.0 |
5.7 |
4.7 |
20.8 |
|
Accrued Expense |
20.3 |
16.3 |
6.0 |
10.9 |
16.8 |
|
Value Added Taxes Withheld |
- |
- |
16.0 |
- |
- |
|
Advance from Customers, Current |
6.6 |
15.6 |
12.3 |
2.8 |
1.1 |
|
Unearned Income |
- |
- |
0.5 |
- |
0.1 |
|
Security Deposit-Lease |
- |
- |
- |
2.0 |
0.8 |
|
Withheld |
5.6 |
6.9 |
0.0 |
0.8 |
0.4 |
|
Rental Guarantee Deposit |
4.9 |
4.4 |
5.0 |
- |
- |
|
Current Borrowings |
171.8 |
139.7 |
119.1 |
77.5 |
129.6 |
|
Current Port LTD |
- |
- |
15.8 |
- |
2.2 |
|
Current Portion of Long-term Liabilities |
18.2 |
19.0 |
- |
- |
- |
|
Adj-ACurrent Portion of Long-term Debt |
- |
- |
0.0 |
- |
- |
|
Lease Guarantee Deposits Received |
- |
- |
- |
3.9 |
5.1 |
|
Current Derivatives Liabilities |
- |
0.2 |
0.3 |
- |
- |
|
Other Current Liabilities |
0.1 |
0.1 |
0.6 |
- |
0.0 |
|
Reserve-Bonuses,Current |
- |
- |
- |
0.1 |
0.3 |
|
Deferred Income Tax Credits |
- |
- |
- |
1.0 |
0.6 |
|
Adj. for Other Current Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Liabilities |
343.2 |
329.6 |
286.8 |
256.3 |
325.1 |
|
|
|
|
|
|
|
|
Non-Current Borrowings |
34.5 |
28.6 |
45.9 |
58.8 |
62.5 |
|
Total Long Term Debt |
34.5 |
28.6 |
45.9 |
58.8 |
62.5 |
|
|
|
|
|
|
|
|
Non-Current Other Payable |
- |
0.0 |
- |
- |
- |
|
LT Sec Dep Wthhd |
- |
- |
- |
1.3 |
1.2 |
|
Non-Current Unearned Income |
1.7 |
1.7 |
- |
- |
- |
|
Guarantee Deposit Received, LT Liability |
4.6 |
4.1 |
2.3 |
- |
- |
|
PV Disc. |
-1.7 |
-1.7 |
-0.5 |
- |
- |
|
Deferred Income Taxes, LT Liabilities |
131.0 |
109.6 |
103.4 |
89.3 |
67.6 |
|
Prov.for Retirement & Severance Benefits |
- |
- |
- |
14.3 |
3.1 |
|
Adj. for LT Trade & Other Payable |
0.0 |
0.0 |
0.0 |
- |
- |
|
Minority Interests |
108.8 |
103.8 |
79.9 |
95.2 |
70.6 |
|
Guarantee Deposit, LT |
- |
- |
- |
0.9 |
- |
|
Prov.for LT Sales Guarantee Liabilities |
2.8 |
2.6 |
2.3 |
1.8 |
- |
|
Non-Current Fixed Benefit Liabilities |
4.3 |
4.2 |
3.5 |
- |
- |
|
Deposit-Retirement Insurance |
- |
- |
- |
-11.4 |
- |
|
Transfer to National Pension Fund |
- |
- |
- |
-0.1 |
- |
|
Adj. for Other Non-current Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Total Liabilities |
629.2 |
582.5 |
523.6 |
506.4 |
530.1 |
|
|
|
|
|
|
|
|
Retained Earnings |
972.1 |
869.1 |
807.4 |
- |
- |
|
Voluntary Reserve |
- |
- |
- |
6.5 |
7.5 |
|
Legal Reserve |
- |
- |
- |
4.2 |
3.6 |
|
Reserve for Assets Revaluation |
- |
- |
- |
101.7 |
96.4 |
|
Other Capital Surplus |
2.4 |
2.4 |
2.4 |
2.9 |
1.3 |
|
Capital Stock |
14.1 |
11.3 |
11.5 |
11.2 |
7.9 |
|
Unappropriated Retained Earnings |
- |
- |
- |
504.5 |
404.7 |
|
Treasury Stock |
- |
- |
- |
0.0 |
0.0 |
|
Capital Change, Equity Method |
68.9 |
82.2 |
81.3 |
53.7 |
41.0 |
|
Capital Change, Equity Method (Loss) |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
- |
|
Gain on Valuation of Securities Availabl |
-0.1 |
21.2 |
21.3 |
10.2 |
3.8 |
|
Losses on Valuation of Securities Availa |
13.3 |
-0.8 |
-0.2 |
-0.2 |
-1.5 |
|
Overseas Bus. Translation Debit/Credit |
1.7 |
15.3 |
15.0 |
15.8 |
22.0 |
|
Adj.-Accum. Other Comprehensive Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Treasury Stock(1) |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Adj. for Other Capital Items |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Equity |
1,071.8 |
1,000.2 |
938.3 |
710.3 |
586.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,701.0 |
1,582.7 |
1,461.8 |
1,216.6 |
1,116.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
Total Common Shares Outstanding |
15.0 |
15.0 |
15.0 |
15.0 |
15.0 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
6.6 |
15.6 |
12.9 |
2.8 |
1.2 |
|
Accumulated Intangible Amort, Suppl. |
3.5 |
2.4 |
1.6 |
- |
- |
|
LT Deferred Revenue |
1.7 |
1.7 |
- |
- |
- |
|
Full-Time Employees |
1,002 |
958 |
871 |
765 |
724 |
|
Number of Common Shareholders |
- |
- |
2,675 |
2,567 |
2,429 |
|
Current maturities |
192.1 |
- |
135.4 |
- |
2.2 |
|
Long Term Debt Maturing in Year 3 |
20.3 |
- |
17.5 |
- |
- |
|
Long Term Debt Maturing in Year 6 |
13.0 |
- |
28.8 |
- |
- |
|
Long Term Debt - Remaining Maturities |
2.3 |
- |
0.6 |
- |
- |
|
Total Long Term Debt, Supplemental |
227.7 |
- |
182.3 |
- |
2.2 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
63.7 |
122.9 |
118.2 |
71.3 |
116.9 |
|
Depreciation |
61.5 |
54.8 |
47.1 |
55.0 |
54.9 |
|
Expense of Allow. for DA |
1.2 |
0.1 |
0.6 |
2.1 |
- |
|
Amort. of Intangibless |
0.8 |
0.8 |
0.8 |
0.7 |
0.0 |
|
Sales Guarantee Expense |
0.0 |
1.1 |
0.4 |
1.7 |
- |
|
Retirement and Severance Benefits |
3.2 |
2.3 |
2.1 |
2.7 |
3.8 |
|
Interest Expenses |
6.5 |
4.6 |
5.0 |
- |
- |
|
Losses on Foreign Currency Translation |
3.7 |
6.0 |
2.0 |
1.3 |
4.7 |
|
Loss on Valt of Derivative Fincl Assets |
- |
0.3 |
0.3 |
- |
- |
|
Loss-Depletion of Inventory |
- |
- |
- |
0.1 |
0.0 |
|
Loss-ST Investment Assets Disposal |
- |
- |
- |
0.3 |
1.7 |
|
L-LT Investment Stock Disposal |
- |
- |
- |
- |
0.0 |
|
Loss-Reduction of Tangible Assets |
- |
- |
- |
- |
0.0 |
|
Impmt Loss-Fincl Asset Avail.-for-Sale |
2.0 |
2.4 |
- |
- |
- |
|
Loss-Reduction of Investment Assets |
- |
- |
- |
1.2 |
- |
|
Loss on Sale of Tangibles |
1.1 |
- |
0.3 |
0.1 |
1.2 |
|
Loss on Sale of Intangibles |
0.0 |
- |
- |
- |
- |
|
Impmt Loss on Intangibles |
0.8 |
- |
- |
- |
- |
|
Loss on Disposal of Financial Assets Ava |
0.1 |
0.0 |
0.1 |
- |
- |
|
Loss on Sale of Invmt in Affiliates |
9.4 |
- |
- |
- |
- |
|
Loss under Equity Method |
- |
0.1 |
- |
5.3 |
3.5 |
|
Rec. of Allow. for DA |
- |
-0.1 |
-0.1 |
-0.1 |
- |
|
Gain-Disp. of Securities/Equity Method |
- |
- |
- |
- |
-0.8 |
|
Gain-Valuation of Currency Futures |
- |
- |
- |
-0.2 |
- |
|
Gain on Sec Sales |
- |
- |
- |
-2.7 |
-1.3 |
|
Gain on Disposal of Financial Assets Ava |
-16.6 |
-0.2 |
-0.1 |
- |
- |
|
Gain on Disposal of Intangible Assets |
- |
-0.2 |
- |
- |
- |
|
Gain Disp of Inv Ast |
- |
- |
- |
-0.6 |
0.0 |
|
Gain on Disposal of Property, Plant and |
-0.1 |
-1.9 |
-0.2 |
-0.1 |
-1.0 |
|
Recovery-Intangible Assets Reduction Los |
- |
- |
- |
-2.9 |
- |
|
Rec. of Impmt Loss on Tangibles |
- |
-0.2 |
- |
- |
-0.6 |
|
Gains on Foreign Currency Translation |
-6.6 |
-5.1 |
-7.1 |
-0.1 |
-1.7 |
|
Gains on Valts of Derivatives Assets |
-0.4 |
-1.0 |
-0.5 |
- |
- |
|
Gain on Insurance Settlement |
-0.2 |
- |
- |
- |
- |
|
Gain under Equity Method |
-13.0 |
-27.6 |
-30.9 |
-18.2 |
-18.5 |
|
Interest Income |
-1.9 |
-1.3 |
-0.8 |
- |
- |
|
Dividend Income |
-0.8 |
-0.8 |
-0.7 |
- |
- |
|
Other Cash Flow from Operating Activity |
0.2 |
- |
- |
- |
- |
|
Deferred Income Tax Debit |
- |
- |
- |
0.0 |
- |
|
Deferred Income Tax Debit, Current |
- |
- |
- |
0.5 |
0.4 |
|
Inventory |
22.0 |
-36.8 |
-37.1 |
21.0 |
-45.3 |
|
Trade Receivables |
7.1 |
-24.6 |
-9.5 |
54.2 |
-63.0 |
|
Accrued Income |
- |
- |
- |
-0.3 |
0.8 |
|
Account Receivables |
1.2 |
-0.9 |
-2.8 |
-5.6 |
-14.4 |
|
LT Trade Receivable |
- |
- |
- |
0.0 |
- |
|
Prepaid Expenses |
0.2 |
-0.2 |
-0.3 |
1.4 |
0.0 |
|
Non-Current Prepaid Expenses |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advance Payments |
-1.3 |
0.4 |
-0.8 |
-0.3 |
-0.8 |
|
Corporate Tax Refundable |
- |
- |
- |
-0.1 |
-2.0 |
|
Prepaid Lease Assets |
-3.7 |
-2.5 |
-0.8 |
- |
- |
|
Decrease in Derivative Assets |
1.0 |
0.5 |
0.2 |
- |
- |
|
Other Current Assets |
0.2 |
-0.1 |
- |
0.1 |
-1.1 |
|
Other Non-Current Assets |
0.0 |
- |
- |
- |
- |
|
Trade Payable |
-2.5 |
14.1 |
-35.7 |
-50.3 |
82.3 |
|
Other Payable |
-0.6 |
1.0 |
-1.9 |
6.6 |
4.2 |
|
Non-Current Other Payable |
0.3 |
0.0 |
- |
- |
- |
|
Guarantee Deposit Received |
- |
- |
- |
-0.7 |
-3.1 |
|
Accrued Expenses |
3.0 |
1.0 |
1.6 |
10.7 |
10.2 |
|
Accrued Income Taxes |
- |
- |
- |
-15.8 |
14.9 |
|
Value Added Tax Withheld |
- |
0.0 |
0.0 |
- |
- |
|
Advance from Customers |
-9.6 |
3.6 |
9.6 |
1.3 |
0.7 |
|
Withholdings |
-1.5 |
0.6 |
4.5 |
-0.8 |
0.1 |
|
Deposit for Letter of Guarantee |
0.1 |
1.3 |
0.2 |
- |
- |
|
Guarantee Deposit Withholdings |
0.2 |
0.1 |
-0.2 |
0.0 |
-0.8 |
|
Deferred Taxes-Liability |
- |
- |
- |
-9.0 |
-0.6 |
|
LT Deferred Taxes-Liability |
- |
- |
- |
12.2 |
-7.0 |
|
Currency Forward Liabilities |
-0.3 |
-0.3 |
- |
- |
- |
|
Other Current Liabilities |
0.0 |
-0.5 |
-3.1 |
- |
- |
|
Prov. for Sales Guarantee |
-0.1 |
-0.7 |
- |
- |
- |
|
National Pension |
- |
- |
- |
0.0 |
0.1 |
|
Severance & Retirement Benefit |
- |
- |
- |
-0.1 |
-0.2 |
|
Prov. for Retirement Allow. |
-1.8 |
-3.8 |
-2.9 |
-3.2 |
-4.7 |
|
Plan Assets |
-2.6 |
-1.0 |
1.8 |
- |
- |
|
Succession to Prov. for Retm&Sevr Benf |
- |
- |
- |
0.2 |
0.2 |
|
Deposit-Retirement Insurance |
- |
- |
- |
0.0 |
2.8 |
|
Dividend Received from Affiliates |
- |
- |
- |
2.3 |
1.6 |
|
Dividend Received-Equity Method Sec. |
2.0 |
2.1 |
1.0 |
- |
- |
|
Adj. for Cash Flow from Operations |
0.0 |
0.0 |
0.0 |
- |
- |
|
Cash-Interest Received |
1.8 |
1.4 |
0.9 |
- |
- |
|
Cash-Interest Paid |
-6.4 |
-4.9 |
-4.9 |
- |
- |
|
Cash-Dividend Income |
0.8 |
0.8 |
0.7 |
- |
- |
|
Cash-Tax Paid |
-17.8 |
-15.0 |
-13.2 |
- |
- |
|
Cash from Operating Activities |
106.7 |
92.3 |
44.2 |
141.0 |
138.2 |
|
|
|
|
|
|
|
|
Decrease-ST Financial Assets |
- |
- |
- |
12.4 |
9.2 |
|
Disposal-Securities under Equity Method |
- |
- |
- |
- |
14.5 |
|
Dec-LT Financial Assets |
- |
- |
- |
0.4 |
1.1 |
|
Disposal-ST Investment Assets |
- |
- |
- |
12.8 |
6.9 |
|
Decrease in Loans |
0.0 |
0.1 |
0.1 |
- |
- |
|
Dec in ST Loans |
- |
- |
- |
0.1 |
- |
|
Decrease-LT Loans |
- |
- |
- |
0.0 |
0.0 |
|
Decrease in Fincl Deposit |
11.9 |
13.7 |
19.5 |
- |
- |
|
Decrease in Guarantee Deposit |
0.8 |
0.2 |
0.7 |
1.4 |
1.2 |
|
Disposal of Securities Available-for-Sal |
4.9 |
10.2 |
9.0 |
- |
- |
|
Dec-ST/LT Investment Stock |
- |
- |
- |
3.6 |
5.1 |
|
Disposal of Land |
- |
- |
- |
- |
0.1 |
|
Disposal-Buildings |
- |
- |
- |
- |
0.1 |
|
Disposal Mach./Equip |
- |
- |
- |
2.6 |
1.2 |
|
Disposal Trans Equip |
- |
- |
- |
0.2 |
0.1 |
|
Disposal-Other Tangible Assets |
- |
- |
- |
0.1 |
0.0 |
|
Disposal of Property, Plant and Equipmen |
12.3 |
16.9 |
6.5 |
- |
- |
|
Disposal of Intangible Assets |
0.4 |
0.4 |
0.1 |
- |
- |
|
Disposal-Other Intangible Assets |
- |
- |
- |
0.0 |
- |
|
Increase-ST Financial Assets |
- |
- |
- |
-24.9 |
-16.3 |
|
Inc-LT Financial Assets |
- |
- |
- |
-0.1 |
-0.9 |
|
Increase-ST Investment Assets |
- |
- |
- |
-20.7 |
-12.4 |
|
Increase in Government Subsidy |
- |
0.0 |
0.0 |
- |
- |
|
Increase in Fincl Deposit |
-16.0 |
-11.0 |
-18.7 |
- |
- |
|
Increase in Loans |
0.0 |
0.0 |
0.0 |
- |
- |
|
Increase in ST Loans |
- |
- |
- |
0.0 |
- |
|
Increase in Guarantee Deposit |
-1.0 |
-1.3 |
-1.3 |
-0.5 |
-0.8 |
|
Decr Lease Guar Deps |
- |
- |
- |
0.0 |
0.0 |
|
Withdrawal Expense |
- |
- |
- |
- |
-0.9 |
|
Purchase of Sec. Available-for-Sale |
-2.8 |
-17.5 |
-3.2 |
- |
- |
|
Purchase of Real Estate |
- |
- |
0.0 |
- |
- |
|
Purchase of Invmt in Afflt&JV |
- |
- |
-3.0 |
- |
- |
|
Acq-ST/LT Investment Stock |
- |
- |
- |
-3.7 |
0.0 |
|
Purchase of Equity Method Sec. |
- |
- |
- |
-1.0 |
-11.6 |
|
Inc Other Invt Ast |
- |
- |
- |
- |
-2.1 |
|
Purchase of Land |
- |
- |
- |
-6.5 |
-0.7 |
|
Purchase of Buildings |
- |
- |
- |
-2.3 |
-0.3 |
|
Purchase of Structures |
- |
- |
- |
0.0 |
-0.1 |
|
Purchase of Machinery |
- |
- |
- |
-13.8 |
-0.5 |
|
Purchase of Vehicles |
- |
- |
- |
-0.3 |
-0.3 |
|
Acq. in Tools/Suppl. |
- |
- |
- |
- |
-0.7 |
|
Acq-Fixtures |
- |
- |
- |
- |
-0.4 |
|
Purchase of Construction in Progress |
- |
- |
- |
-48.9 |
-32.4 |
|
Acq. Other Tangible |
- |
- |
- |
-8.0 |
-90.3 |
|
Purchase of Tangibles |
-150.4 |
-116.2 |
-97.2 |
- |
- |
|
Purchase of Intangibless |
0.0 |
0.0 |
-1.5 |
- |
- |
|
Cash from Investing Activities |
-139.8 |
-104.5 |
-89.0 |
-97.1 |
-131.5 |
|
|
|
|
|
|
|
|
Inc in ST Borrowings |
- |
- |
- |
58.1 |
46.9 |
|
Inc in LT Borrowings |
- |
- |
- |
21.5 |
29.9 |
|
Increase in Borrowings |
469.8 |
521.7 |
260.1 |
- |
- |
|
Decrease in Borrowings |
-438.6 |
-514.3 |
-222.3 |
- |
- |
|
Increase in Minority Interest |
- |
15.2 |
1.9 |
- |
- |
|
Subsidiaries' Capital Increase |
- |
- |
- |
8.9 |
- |
|
Rights Issue |
0.0 |
- |
- |
- |
- |
|
Inc-Govt Subsidies |
- |
- |
- |
0.0 |
0.0 |
|
Repay ST Borrowings |
- |
- |
- |
-139.6 |
-40.5 |
|
Dec in LT Borrowings |
- |
- |
- |
-0.3 |
-2.3 |
|
Dividend Paid |
-4.0 |
-4.1 |
-3.9 |
-2.7 |
-3.2 |
|
Increase in Treasury Stocks |
0.0 |
- |
- |
- |
- |
|
Acquisition-Treasury Stock |
- |
- |
- |
0.0 |
- |
|
Cash Outflow-Consolidation Scope Change |
- |
- |
- |
0.0 |
1.9 |
|
Change-Foreign Currency Translation |
- |
- |
- |
0.3 |
3.0 |
|
Cash from Financing Activities |
27.1 |
18.5 |
35.7 |
-53.8 |
35.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
- |
- |
|
Incs or Decs in Cash & Cash Equivalents |
-5.9 |
6.3 |
-9.1 |
-10.0 |
42.3 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
45.8 |
40.2 |
47.6 |
66.0 |
34.3 |
|
Cash and Cash Equivalents at End |
39.8 |
46.6 |
38.5 |
56.0 |
76.6 |
|
Cash Interest Paid |
6.4 |
4.9 |
4.9 |
- |
- |
|
Cash Taxes Paid |
17.8 |
15.0 |
13.2 |
- |
- |
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.59.70 |
|
UK Pound |
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.98 |
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.