MIRA INFORM REPORT
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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
WOONGJIN CHEMICAL CO., LTD. |
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Formerly Known As : |
Saehan Industries Inc |
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Registered Office : |
287, Gongdan-Dong, Gumi, 730030, Korea |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.07.1972 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
Subject is engaged in production and supply
of polyester fibers consist of :- ·
polyester
filaments such as functional
yarns, stretch yarns, micro yarns, wool, yarns, rayon ·
Polyester
Staple Fibers such as specialized fibers, nonwoven fibers, hygiene fibers,
spinning fibers and regular fibers ·
chips
such as polyethylene terephthalate (PET), flame retardants |
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No. of Employees : |
1,178 (2011) |
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 : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
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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
WOONGJIN CHEMICAL CO., LTD.
287, Gongdan-Dong
Gumi, 730030
Korea, Republic of
Tel:
82-54-4694114
Fax:
82-2-32797062
Web: www.wjchemical.com
Trading Address
23th Floor Kukdong Bldg 60-1 Chungmuro
3-GA Jung Gu Seoul 100-705 Korea, South Korea
Synthesis
Employees:
1,178 (2011)
Company Type:
Public Subsidiary
Corporate Family: 16
Companies
Ultimate Parent: Woongjin
Thinkbig Co., Ltd.
Traded: Korea
Stock Exchange: 008000
Incorporation Date: 01-Jul-1972
Auditor:
Deloitte & Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency:
South Korean Won
Annual Sales:
985.4 1
Net Income:
7.0
Total Assets:
728.0 2
Market Value: 422.7 (16-Aug-2013)
Business Description
Woongjin Chemical
Co., Ltd. is a Korea-based company engaged in the production and supply of
polyester fibers and related products. Its products consist of polyester
filaments, such as functional yarns, stretch yarns, micro yarns, wool like
yarns, rayon like yarns and others; polyester staple fibers, such as
specialized fibers, nonwoven fibers, hygiene fibers, spinning fibers and
regular fibers; chips, such as polyethylene terephthalate (PET), flame
retardants and others; textiles under the brand names of eslontex, evica and
others; and chemical sheets, such as PET sheets, among others. On December 1,
2012, it divested its textile business into a newly established wholly owned
subsidiary, Woongjin Textile Co., Ltd. On January 2, 2013, Woongjin Holdings
acquired a 46.30% stake in the Company from COWAY CO.,LTD. After the
transaction, Woongjin Holdings Co Ltd and 11 other investors became the largest
shareholder of the Company, replacing COWAY CO.,LTD. and 12 other investors.
For the three months ended 31 March 2013, WOONGJIN CHEMICAL CO., LTD. revenues
decreased 12% to W251.5B. Net income decreased 48% to W4.08B. Revenues reflect
Fiber Segment decrease of 12% to W162.07B, Textile Segment decrease of 15% to
W40.65B, Other Foreign segment decrease of 22% to W71.76B, Indonesia segment decrease
of 29% to W24.31B. Net income also reflects Finance Income decrease of 95% to
W69.3M (income).
Industry
Industry Textile
Manufacturing
ANZSIC 2006:
1312 - Natural Textile Manufacturing
ISIC Rev 4:
1311 - Preparation and spinning of textile fibres
NACE Rev 2:
1310 - Preparation and spinning of textile fibres
NAICS 2012:
313110 - Fiber, Yarn, and Thread Mills
UK SIC 2007:
1310 - Preparation and spinning of textile fibres
US SIC 1987:
2282 - Yarn Texturizing, Throwing, Twisting, and Winding Mills
Key
Executives
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Name |
Title |
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Chan Gu Park |
Chief Executive Officer, Managing Director |
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Yil Hyeon Suhk |
Internal Auditor |
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Ji Yong Ahn |
Assistant Managing Director |
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K. U. Park |
President & CEO |
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Gwang Su Shin |
Managing Director |
Financial Summary
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Stock
Snapshot
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Price % Change |
Rel S&P 500% |
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4 Week |
-10.53% |
-12.80% |
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13 Week |
14.74% |
18.73% |
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52 Week |
38.59% |
41.32% |
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Year to Date |
40.69% |
46.32% |
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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
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Corporate Family |
Corporate
Structure News: |
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Woongjin
Thinkbig Co., Ltd. |
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WOONGJIN CHEMICAL CO., LTD. |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Paju |
Korea, Republic of |
Publishing |
647.3 |
2,025 |
|
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Subsidiary |
Seoul |
Korea, Republic of |
Commercial and Industrial Rental |
623.0 |
1,038 |
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Affiliates |
Gumi |
Korea, Republic of |
Textile Manufacturing |
985.4 |
1,095 |
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Subsidiary |
Jakarta |
Indonesia |
Textile Manufacturing |
|
600 |
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Subsidiary |
Shanghai |
China |
Textile Manufacturing |
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20 |
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Facility |
Gongju, Chungcheongnam-do |
Korea, Republic of |
Textile Manufacturing |
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Facility |
Gumi, Gyeongsangbuk-do |
Korea, Republic of |
Textile Manufacturing |
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Subsidiary |
Gongju-si, Chungcheongnam-Do |
Korea, Republic of |
Civil Engineering |
679.4 |
505 |
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Subsidiary |
Inchon, Inchon |
Korea, Republic of |
Non-Metallic Mineral Product Manufacturing |
22.7 |
157 |
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Subsidiary |
Sangju, Kyongsangbuk-Do |
Korea, Republic of |
Basic Chemical Manufacturing |
170.8 |
250 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Computer and Peripheral Equipment Manufacturing |
1.6 |
40 |
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Subsidiary |
Paju |
Korea, Republic of |
Miscellaneous Wholesale |
102.6 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Advertising Services |
|
50 |
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Subsidiary |
Kumi, Kyongsangbuk-Do |
Korea, Republic of |
Trucking |
23.5 |
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Subsidiary |
Seoul |
Korea, Republic of |
Primary and Secondary Education |
73.7 |
267 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Publishing |
9.1 |
62 |
Executive report
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Board of Directors |
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Assistant Managing Director |
Director/Board Member |
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Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Chief Executive Officer, Managing Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Managing Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Executives |
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Chief Executive Officer, Managing Director |
Chief Executive Officer |
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President & CEO |
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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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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Assistant 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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Internal Auditor |
Accounting Executive |
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Significant Developments
WOONGJIN CHEMICAL
CO.,LTD Announces Changes of Largest Shareholder Jan 02, 2013
WOONGJIN CHEMICAL
CO.,LTD announced that Woongjin Holdings Co Ltd has acquired its 214,644,092
shares, equivalent to a 46.30% stake in the Company, from COWAY CO.,LTD. After
the transaction, Woongjin Holdings Co Ltd and 11 other investors becomes the
largest shareholder of the Company, replacing COWAY CO.,LTD. and 12 other
investors.
WOONGJIN CHEMICAL
CO.,LTD Lowers FY 2012 Outlook Dec 27, 2012
WOONGJIN CHEMICAL
CO.,LTD announced that it has lowered its fiscal year 2012 revenue and
operating profit to record KRW 1,027.9 billion and KRW 18.4 billion,
respectively. The Company previously, on February 14, 2012, expected fiscal
year 2012 revenue and operating profit to record KRW 1,200 billion and KRW 60
billion.
WOONGJIN CHEMICAL CO.,LTD to Divest Textile Business
into Subsidiary Sep 14, 2012
WOONGJIN CHEMICAL
CO.,LTD announced that it will divest its textile business into a newly
established wholly owned subsidiary. The transaction effective date and
registration date are expected to be December 1, 2012 and December 4, 2012,
respectively.
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 |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
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Net Sales |
917.5 |
1,049.9 |
841.9 |
656.1 |
798.1 |
|
Revenue |
917.5 |
1,049.9 |
841.9 |
656.1 |
798.1 |
|
Other Revenue |
68.0 |
2.7 |
0.4 |
- |
- |
|
Other Revenue, Total |
68.0 |
2.7 |
0.4 |
- |
- |
|
Total Revenue |
985.4 |
1,052.6 |
842.3 |
656.1 |
798.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
858.6 |
923.3 |
721.2 |
569.4 |
700.8 |
|
Cost of Revenue, Total |
858.6 |
923.3 |
721.2 |
569.4 |
700.8 |
|
Gross Profit |
58.8 |
126.7 |
120.7 |
86.7 |
97.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
64.5 |
56.7 |
46.9 |
38.9 |
40.5 |
|
Labor & Related Expense |
20.3 |
18.7 |
17.1 |
15.1 |
14.9 |
|
Advertising Expense |
1.4 |
4.7 |
3.2 |
3.3 |
3.8 |
|
Total Selling/General/Administrative Expenses |
86.2 |
80.2 |
67.2 |
57.3 |
59.1 |
|
Research & Development |
8.1 |
9.2 |
9.2 |
8.3 |
6.6 |
|
Depreciation |
2.2 |
1.5 |
1.0 |
0.3 |
0.4 |
|
Amortization of Intangibles |
2.1 |
0.9 |
0.4 |
0.3 |
0.3 |
|
Depreciation/Amortization |
4.3 |
2.4 |
1.4 |
0.6 |
0.6 |
|
Investment Income -
Operating |
- |
- |
1.9 |
- |
- |
|
Interest/Investment Income - Operating |
- |
- |
1.9 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
- |
- |
1.9 |
- |
- |
|
Impairment-Assets Held for Use |
2.9 |
-0.2 |
3.4 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.5 |
- |
- |
|
Unusual Expense (Income) |
2.9 |
-0.2 |
3.9 |
- |
- |
|
Other Operating Expense |
- |
- |
0.9 |
- |
- |
|
Other, Net |
- |
- |
-1.6 |
- |
- |
|
Other Operating Expenses, Total |
- |
- |
-0.8 |
- |
- |
|
Total Operating Expense |
960.2 |
1,014.9 |
804.0 |
635.6 |
767.2 |
|
|
|
|
|
|
|
|
Operating Income |
25.3 |
37.8 |
38.3 |
20.5 |
31.0 |
|
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|
|
|
|
|
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Interest Expense -
Non-Operating |
-13.3 |
-12.0 |
-13.6 |
-12.3 |
-15.0 |
|
Interest Capitalized -
Non-Operating |
2.3 |
0.5 |
0.5 |
- |
- |
|
Interest Expense, Net Non-Operating |
-11.0 |
-11.5 |
-13.2 |
-12.3 |
-15.0 |
|
Interest Income -
Non-Operating |
1.0 |
1.0 |
3.7 |
1.7 |
2.3 |
|
Investment Income - Non-Operating |
-2.4 |
-23.4 |
0.2 |
2.3 |
-17.8 |
|
Interest/Investment Income - Non-Operating |
-1.4 |
-22.4 |
3.8 |
4.0 |
-15.5 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-12.4 |
-33.9 |
-9.3 |
-8.3 |
-30.5 |
|
Gain (Loss) on Sale of Assets |
-0.9 |
-0.3 |
- |
-1.9 |
-5.4 |
|
Other Non-Operating Income (Expense) |
0.9 |
0.1 |
-1.2 |
0.6 |
5.1 |
|
Other, Net |
0.9 |
0.1 |
-1.2 |
0.6 |
5.1 |
|
Income Before Tax |
12.8 |
3.7 |
27.7 |
11.0 |
0.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
5.1 |
-2.5 |
-16.3 |
2.2 |
0.5 |
|
Income After Tax |
7.7 |
6.3 |
44.0 |
8.8 |
-0.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.7 |
-0.4 |
0.2 |
0.0 |
-0.1 |
|
Net Income Before Extraord Items |
7.0 |
5.9 |
44.2 |
8.8 |
-0.4 |
|
Discontinued Operations |
- |
1.5 |
0.1 |
-0.9 |
-1.5 |
|
Total Extraord Items |
- |
1.5 |
0.1 |
-0.9 |
-1.5 |
|
Net Income |
7.0 |
7.5 |
44.3 |
7.9 |
-1.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
7.0 |
5.9 |
44.2 |
8.8 |
-0.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
7.0 |
7.5 |
44.3 |
7.9 |
-1.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
48.1 |
47.2 |
47.4 |
47.1 |
47.0 |
|
Basic EPS Excl Extraord Items |
0.15 |
0.13 |
0.93 |
0.19 |
-0.01 |
|
Basic/Primary EPS Incl Extraord Items |
0.15 |
0.16 |
0.93 |
0.17 |
-0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
7.0 |
7.5 |
44.3 |
7.9 |
-1.9 |
|
Diluted Weighted Average Shares |
48.1 |
47.2 |
47.4 |
47.1 |
47.0 |
|
Diluted EPS Excl Extraord Items |
0.15 |
0.13 |
0.93 |
0.19 |
-0.01 |
|
Diluted EPS Incl Extraord Items |
0.15 |
0.16 |
0.93 |
0.17 |
-0.04 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
11.0 |
11.5 |
13.2 |
12.3 |
15.0 |
|
Interest Capitalized, Supplemental |
-2.3 |
-0.5 |
-0.5 |
0.0 |
-0.3 |
|
Depreciation, Supplemental |
27.2 |
27.4 |
23.7 |
22.4 |
28.9 |
|
Total Special Items |
3.8 |
0.1 |
3.9 |
1.9 |
5.4 |
|
Normalized Income Before Tax |
16.7 |
3.8 |
31.6 |
12.8 |
5.6 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.5 |
0.0 |
1.4 |
0.4 |
1.9 |
|
Inc Tax Ex Impact of Sp Items |
6.7 |
-2.5 |
-14.9 |
2.5 |
2.4 |
|
Normalized Income After Tax |
10.0 |
6.3 |
46.5 |
10.3 |
3.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
9.3 |
6.0 |
46.7 |
10.3 |
3.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.19 |
0.13 |
0.98 |
0.22 |
0.07 |
|
Diluted Normalized EPS |
0.19 |
0.13 |
0.98 |
0.22 |
0.07 |
|
Amort of Intangibles, Supplemental |
2.2 |
0.9 |
0.5 |
0.4 |
0.4 |
|
Rental Expenses |
3.3 |
3.5 |
3.0 |
2.0 |
1.9 |
|
Advertising Expense, Supplemental |
1.4 |
4.7 |
3.2 |
3.3 |
3.8 |
|
Research & Development Exp, Supplemental |
8.1 |
9.2 |
9.2 |
8.3 |
6.6 |
|
Normalized EBIT |
28.2 |
37.6 |
44.0 |
20.5 |
31.0 |
|
Normalized EBITDA |
57.6 |
65.9 |
68.2 |
43.3 |
60.3 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
33.4 |
49.9 |
81.2 |
65.8 |
23.6 |
|
Short Term Investments |
- |
0.1 |
0.0 |
10.0 |
1.4 |
|
Cash and Short Term Investments |
33.4 |
50.0 |
81.2 |
75.8 |
25.0 |
|
Accounts Receivable -
Trade, Gross |
- |
- |
- |
83.6 |
89.1 |
|
Provision for Doubtful
Accounts |
- |
- |
- |
-5.0 |
-3.6 |
|
Trade Accounts Receivable - Net |
124.7 |
128.0 |
117.8 |
78.8 |
85.7 |
|
Other Receivables |
6.4 |
9.0 |
7.8 |
7.5 |
10.9 |
|
Total Receivables, Net |
131.1 |
137.0 |
125.5 |
86.4 |
96.6 |
|
Inventories - Finished Goods |
39.8 |
41.9 |
35.3 |
28.3 |
26.0 |
|
Inventories - Work In Progress |
32.5 |
36.1 |
28.4 |
22.9 |
20.1 |
|
Inventories - Raw Materials |
17.0 |
23.0 |
15.6 |
20.1 |
18.8 |
|
Inventories - Other |
14.5 |
14.6 |
8.5 |
1.4 |
2.2 |
|
Total Inventory |
103.8 |
115.6 |
87.8 |
72.8 |
67.2 |
|
Prepaid Expenses |
4.7 |
4.8 |
3.1 |
0.8 |
1.0 |
|
Other Current Assets |
- |
0.0 |
0.0 |
1.4 |
1.1 |
|
Other Current Assets, Total |
- |
0.0 |
0.0 |
1.4 |
1.1 |
|
Total Current Assets |
273.1 |
307.3 |
297.7 |
237.1 |
191.0 |
|
|
|
|
|
|
|
|
Buildings |
145.9 |
141.5 |
135.7 |
134.7 |
124.4 |
|
Land/Improvements |
65.0 |
63.0 |
62.4 |
78.4 |
73.8 |
|
Machinery/Equipment |
595.5 |
531.5 |
507.3 |
474.3 |
431.8 |
|
Construction in
Progress |
74.2 |
24.8 |
33.0 |
16.0 |
4.1 |
|
Other
Property/Plant/Equipment |
0.2 |
0.2 |
0.2 |
- |
- |
|
Property/Plant/Equipment - Gross |
880.9 |
761.1 |
738.6 |
703.4 |
634.1 |
|
Accumulated Depreciation |
-504.4 |
-455.3 |
-437.7 |
-420.5 |
-374.1 |
|
Property/Plant/Equipment - Net |
376.5 |
305.7 |
300.9 |
282.9 |
260.0 |
|
Intangibles, Net |
35.8 |
26.1 |
20.1 |
2.9 |
2.0 |
|
LT Investment - Affiliate Companies |
4.6 |
4.3 |
3.9 |
7.1 |
9.1 |
|
LT Investments - Other |
15.0 |
6.1 |
8.0 |
6.7 |
4.4 |
|
Long Term Investments |
19.6 |
10.4 |
11.9 |
13.8 |
13.5 |
|
Note Receivable - Long Term |
4.9 |
7.5 |
6.7 |
0.0 |
1.4 |
|
Deferred Income Tax - Long Term Asset |
16.1 |
15.8 |
12.4 |
0.4 |
1.9 |
|
Other Long Term Assets |
2.0 |
0.2 |
0.1 |
4.2 |
2.6 |
|
Other Long Term Assets, Total |
18.2 |
16.1 |
12.5 |
4.7 |
4.5 |
|
Total Assets |
728.0 |
673.1 |
649.7 |
541.3 |
472.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
75.5 |
87.6 |
107.8 |
90.3 |
40.4 |
|
Accrued Expenses |
0.8 |
0.2 |
0.0 |
6.5 |
8.5 |
|
Notes Payable/Short Term Debt |
139.7 |
90.4 |
82.7 |
34.3 |
16.2 |
|
Current Portion - Long Term Debt/Capital Leases |
40.0 |
26.4 |
30.9 |
24.0 |
15.1 |
|
Customer Advances |
9.0 |
4.0 |
4.7 |
2.6 |
1.2 |
|
Security Deposits |
- |
- |
- |
2.7 |
2.5 |
|
Income Taxes Payable |
1.9 |
0.5 |
0.1 |
0.1 |
0.4 |
|
Other Payables |
50.4 |
49.7 |
43.7 |
24.5 |
26.8 |
|
Other Current Liabilities |
4.9 |
3.8 |
4.5 |
2.2 |
1.3 |
|
Other Current liabilities, Total |
66.2 |
58.0 |
53.0 |
32.0 |
32.3 |
|
Total Current Liabilities |
322.3 |
262.5 |
274.4 |
187.2 |
112.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
95.6 |
126.3 |
84.0 |
101.0 |
133.9 |
|
Capital Lease Obligations |
0.0 |
0.0 |
- |
- |
- |
|
Total Long Term Debt |
95.6 |
126.3 |
84.0 |
101.0 |
133.9 |
|
Total Debt |
275.4 |
243.1 |
197.6 |
159.4 |
165.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
0.1 |
0.0 |
- |
- |
|
Deferred Income Tax |
- |
0.1 |
0.0 |
- |
- |
|
Minority Interest |
2.6 |
2.0 |
1.6 |
1.4 |
2.2 |
|
Reserves |
0.5 |
0.4 |
0.5 |
0.3 |
0.1 |
|
Pension Benefits - Underfunded |
14.3 |
9.0 |
8.9 |
18.0 |
18.2 |
|
Other Long Term Liabilities |
6.1 |
5.7 |
6.1 |
3.9 |
0.3 |
|
Other Liabilities, Total |
20.8 |
15.1 |
15.6 |
22.3 |
18.6 |
|
Total Liabilities |
441.3 |
406.0 |
375.6 |
311.9 |
267.1 |
|
|
|
|
|
|
|
|
Common Stock |
222.5 |
205.9 |
209.0 |
203.7 |
186.7 |
|
Common Stock |
222.5 |
205.9 |
209.0 |
203.7 |
186.7 |
|
Additional Paid-In Capital |
- |
- |
- |
37.1 |
30.3 |
|
Retained Earnings (Accumulated Deficit) |
69.2 |
69.0 |
64.1 |
-21.9 |
-28.2 |
|
Treasury Stock - Common |
- |
- |
- |
0.0 |
0.0 |
|
Unrealized Gain (Loss) |
-0.1 |
-0.1 |
-0.1 |
-0.7 |
-13.5 |
|
Translation Adjustment |
-1.7 |
0.3 |
-0.3 |
11.2 |
24.8 |
|
Other Equity |
-2.2 |
-6.7 |
2.7 |
- |
5.1 |
|
Other Comprehensive Income |
-1.0 |
-1.5 |
-1.3 |
- |
- |
|
Other Equity, Total |
-4.9 |
-7.8 |
1.1 |
11.2 |
29.9 |
|
Total Equity |
286.7 |
267.1 |
274.1 |
229.4 |
205.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
728.0 |
673.1 |
649.7 |
541.3 |
472.2 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
47.1 |
46.4 |
47.4 |
47.4 |
47.0 |
|
Total Common Shares Outstanding |
47.1 |
46.4 |
47.4 |
47.4 |
47.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.4 |
1.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
- |
1,178 |
1,028 |
1,047 |
1,095 |
|
Number of Common Shareholders |
- |
- |
19,045 |
17,542 |
6,348 |
|
Accumulated Intangible Amort, Suppl. |
5.3 |
3.1 |
2.3 |
1.4 |
1.0 |
|
Deferred Revenue - Current |
9.0 |
4.0 |
4.7 |
2.6 |
1.2 |
|
Total Long Term Debt, Supplemental |
135.8 |
153.0 |
- |
117.5 |
147.9 |
|
Long Term Debt Maturing within 1 Year |
40.0 |
26.4 |
- |
17.3 |
15.1 |
|
Long Term Debt Maturing in Year 2 |
8.6 |
42.6 |
- |
21.6 |
15.9 |
|
Long Term Debt Maturing in Year 3 |
76.1 |
74.3 |
- |
25.9 |
20.0 |
|
Long Term Debt Maturing in Year 4 |
9.6 |
3.5 |
- |
51.2 |
24.0 |
|
Long Term Debt Maturing in Year 5 |
0.2 |
1.2 |
- |
0.2 |
71.6 |
|
Long Term Debt Maturing in 2-3 Years |
84.6 |
116.9 |
- |
47.6 |
35.9 |
|
Long Term Debt Maturing in 4-5 Years |
9.8 |
4.7 |
- |
51.4 |
95.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
1.3 |
5.0 |
- |
1.2 |
1.3 |
|
Interest Costs |
0.0 |
0.0 |
- |
- |
- |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.0 |
0.0 |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
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 |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
7.7 |
7.8 |
44.1 |
7.9 |
-1.9 |
|
Depreciation |
27.3 |
27.4 |
23.7 |
22.4 |
28.9 |
|
Depreciation/Depletion |
27.3 |
27.4 |
23.7 |
22.4 |
28.9 |
|
Amortization of Intangibles |
2.2 |
0.9 |
0.5 |
0.4 |
0.4 |
|
Amortization |
2.2 |
0.9 |
0.5 |
0.4 |
0.4 |
|
Deferred Taxes |
- |
- |
- |
1.4 |
- |
|
Unusual Items |
11.4 |
25.9 |
4.6 |
3.3 |
4.1 |
|
Equity in Net Earnings (Loss) |
-0.6 |
-0.7 |
-0.5 |
0.1 |
-0.7 |
|
Other Non-Cash Items |
19.0 |
15.7 |
0.0 |
9.5 |
2.5 |
|
Non-Cash Items |
29.7 |
40.8 |
4.1 |
12.9 |
6.0 |
|
Accounts Receivable |
9.4 |
-17.3 |
-14.5 |
13.2 |
-23.4 |
|
Inventories |
18.1 |
-34.1 |
-12.7 |
-0.8 |
3.4 |
|
Prepaid Expenses |
- |
- |
- |
0.2 |
0.1 |
|
Other Assets |
-3.4 |
-1.1 |
-2.0 |
-0.2 |
2.0 |
|
Accounts Payable |
-19.2 |
-16.1 |
22.1 |
42.2 |
14.2 |
|
Accrued Expenses |
- |
- |
- |
-2.4 |
2.5 |
|
Taxes Payable |
- |
- |
- |
- |
0.5 |
|
Other Liabilities |
2.2 |
-7.1 |
-15.3 |
-5.2 |
-6.7 |
|
Other Operating Cash Flow |
-1.7 |
0.4 |
-0.5 |
0.1 |
0.1 |
|
Changes in Working Capital |
5.4 |
-75.4 |
-22.9 |
47.2 |
-7.3 |
|
Cash from Operating Activities |
72.3 |
1.6 |
49.5 |
92.3 |
26.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-84.2 |
-65.2 |
-56.7 |
-28.1 |
-23.7 |
|
Purchase/Acquisition of Intangibles |
-10.4 |
-7.2 |
0.0 |
-0.5 |
-0.7 |
|
Capital Expenditures |
-94.6 |
-72.4 |
-56.7 |
-28.6 |
-24.4 |
|
Sale of Fixed Assets |
0.4 |
6.3 |
3.4 |
0.7 |
5.9 |
|
Sale/Maturity of Investment |
2.3 |
2.4 |
7.5 |
2.2 |
38.6 |
|
Purchase of Investments |
-0.8 |
-0.4 |
-3.2 |
-9.2 |
-1.0 |
|
Sale of Intangible Assets |
0.2 |
- |
- |
- |
0.5 |
|
Other Investing Cash Flow |
0.7 |
2.8 |
20.5 |
0.5 |
4.1 |
|
Other Investing Cash Flow Items, Total |
2.9 |
11.0 |
28.1 |
-5.7 |
48.1 |
|
Cash from Investing Activities |
-91.7 |
-61.4 |
-28.6 |
-34.3 |
23.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-9.1 |
-8.5 |
-11.4 |
-18.9 |
-202.2 |
|
Financing Cash Flow Items |
-9.1 |
-8.5 |
-11.4 |
-18.9 |
-202.2 |
|
Repurchase/Retirement
of Common |
-5.8 |
-10.6 |
- |
- |
- |
|
Common Stock, Net |
-5.8 |
-10.6 |
- |
- |
- |
|
Options Exercised |
- |
0.4 |
- |
- |
- |
|
Issuance (Retirement) of Stock, Net |
-5.8 |
-10.2 |
- |
- |
- |
|
Short Term Debt Issued |
123.6 |
84.2 |
115.0 |
18.8 |
- |
|
Short Term Debt Reduction |
-82.0 |
-76.2 |
-97.9 |
-3.4 |
-17.9 |
|
Short Term Debt, Net |
41.6 |
8.0 |
17.1 |
15.5 |
-17.9 |
|
Long Term Debt Issued |
40.4 |
75.6 |
103.1 |
6.3 |
161.0 |
|
Long Term Debt
Reduction |
-66.9 |
-34.7 |
-122.1 |
-24.1 |
- |
|
Long Term Debt, Net |
-26.5 |
40.9 |
-19.1 |
-17.8 |
161.0 |
|
Issuance (Retirement) of Debt, Net |
15.1 |
48.9 |
-1.9 |
-2.4 |
143.2 |
|
Cash from Financing Activities |
0.3 |
30.2 |
-13.3 |
-21.3 |
-59.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.8 |
0.0 |
0.2 |
- |
- |
|
Net Change in Cash |
-19.8 |
-29.6 |
7.8 |
36.7 |
-9.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
50.9 |
81.3 |
70.2 |
23.3 |
36.3 |
|
Net Cash - Ending Balance |
31.1 |
51.8 |
77.9 |
60.0 |
27.0 |
|
Cash Interest Paid |
11.0 |
10.7 |
12.9 |
- |
- |
|
Cash Taxes Paid |
1.7 |
-0.4 |
0.5 |
- |
- |
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 |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales Revenue |
- |
- |
- |
656.1 |
798.1 |
|
Finished Goods Revenues |
874.4 |
1,001.5 |
798.8 |
- |
- |
|
Merchandise Sales |
43.1 |
48.4 |
41.8 |
- |
- |
|
Services Revenue |
- |
- |
1.2 |
- |
- |
|
Other Revenue |
68.0 |
2.7 |
0.4 |
- |
- |
|
Adj. for Revenues |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Revenue |
985.4 |
1,052.6 |
842.3 |
656.1 |
798.1 |
|
|
|
|
|
|
|
|
Staff Costs in COR |
39.8 |
37.6 |
- |
- |
- |
|
Other Costs of Goods & Services Sold |
818.8 |
885.7 |
- |
- |
- |
|
Costs of Goods & Services Sold |
- |
- |
721.2 |
569.4 |
700.8 |
|
Salaries & Wages |
15.3 |
14.3 |
12.3 |
8.9 |
8.7 |
|
Other Payrolls |
- |
- |
- |
0.0 |
0.0 |
|
Bonuses |
- |
- |
- |
1.5 |
1.5 |
|
Retirement & Severance Benefits |
1.4 |
1.1 |
1.5 |
1.7 |
1.7 |
|
Employee Benefits |
3.6 |
3.4 |
3.3 |
2.2 |
2.4 |
|
Stock-Based Compensation |
- |
- |
- |
0.8 |
0.6 |
|
Travel Expense |
2.8 |
3.0 |
2.2 |
1.6 |
2.0 |
|
Communication Expense |
- |
- |
- |
0.3 |
0.3 |
|
Utility Expenses |
- |
- |
- |
0.0 |
0.0 |
|
Taxes & Dues |
- |
- |
- |
0.6 |
0.6 |
|
Supply Expense |
- |
- |
- |
0.3 |
0.4 |
|
Publication Expense |
- |
- |
- |
0.1 |
0.1 |
|
Rental Expense |
3.3 |
3.5 |
3.0 |
2.0 |
1.9 |
|
Repair Expense |
- |
- |
- |
0.3 |
0.1 |
|
Vehicle Maintenance Expense |
- |
- |
- |
0.2 |
0.3 |
|
Insurance Premiums |
- |
- |
- |
0.1 |
0.2 |
|
Commissions |
13.2 |
6.8 |
10.9 |
9.4 |
8.3 |
|
Sales Commissions |
4.1 |
5.7 |
- |
- |
- |
|
Shipping & Handling Expense |
22.3 |
20.7 |
19.3 |
15.8 |
20.2 |
|
Entertainment Expense |
- |
- |
- |
1.0 |
1.1 |
|
Packaging Expense |
- |
- |
- |
0.0 |
0.1 |
|
Sales Promotion Expense |
- |
- |
- |
0.8 |
0.6 |
|
Advertising Expense |
1.4 |
4.7 |
3.2 |
2.6 |
3.1 |
|
Education & Training Expense |
0.7 |
1.1 |
0.6 |
0.7 |
0.5 |
|
Overseas Market Development Expense |
- |
- |
- |
0.0 |
0.0 |
|
Sample Expense |
- |
- |
- |
0.9 |
1.1 |
|
Outsourcing Service Expense |
3.5 |
2.0 |
1.3 |
0.9 |
1.0 |
|
Activity Expense |
- |
- |
- |
0.2 |
0.2 |
|
Conference Expense |
- |
- |
- |
0.4 |
0.5 |
|
Quality-Control Expense |
- |
- |
- |
1.8 |
1.3 |
|
Expense of Allow. for DA |
- |
- |
- |
1.7 |
0.1 |
|
Research Expense |
- |
- |
- |
4.6 |
3.1 |
|
Research & Survey Expense |
8.1 |
9.2 |
- |
1.6 |
1.7 |
|
Development Costs |
- |
- |
9.2 |
2.1 |
1.8 |
|
Depreciation |
2.2 |
1.4 |
0.5 |
0.3 |
0.4 |
|
Amort. of Intangibless |
2.1 |
0.9 |
0.4 |
0.3 |
0.3 |
|
Environment Safety Expense |
- |
- |
- |
0.0 |
0.0 |
|
Warranty Exp. of Construction Contracts |
- |
- |
- |
0.3 |
0.0 |
|
Other Selling & Administrative Expense |
14.6 |
13.8 |
9.5 |
- |
0.0 |
|
Depreciation of Idle Asset not Operation |
0.1 |
0.1 |
0.5 |
- |
- |
|
Adj. for Selling & Administrative Exp. |
0.0 |
0.0 |
0.0 |
- |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-14.1 |
- |
- |
|
Gain on Foreign Currency Translation |
- |
- |
-0.6 |
- |
- |
|
Gain on Disposal of PPE |
- |
- |
-0.6 |
- |
- |
|
Rec. of Prov. for Product Warranties |
- |
- |
0.0 |
- |
- |
|
Gain on Assets Contributed |
- |
- |
-0.2 |
- |
- |
|
Miscellaneous Income |
- |
- |
-1.4 |
- |
- |
|
Other Operating Income, Other |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
15.9 |
- |
- |
|
Loss on Foreign Currency Translation |
- |
- |
0.7 |
- |
- |
|
Loss on Disposal of PPE |
- |
- |
1.1 |
- |
- |
|
Impairment Loss on PPE |
- |
- |
0.6 |
- |
- |
|
Impmt Loss on Trade & Other Receivable |
- |
- |
2.8 |
- |
- |
|
Impmt Loss on Trade Receivable |
2.9 |
- |
- |
- |
- |
|
Rec. of Impmt on Trade Receivable |
- |
-0.2 |
- |
- |
- |
|
Donations Paid |
- |
- |
0.0 |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.8 |
- |
- |
|
Other Operating Expense, Other |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
960.2 |
1,014.9 |
804.0 |
635.6 |
767.2 |
|
|
|
|
|
|
|
|
Interest Income |
1.0 |
1.0 |
3.7 |
1.7 |
2.3 |
|
Dividend Income |
- |
0.2 |
0.1 |
0.0 |
0.1 |
|
Adj. for Finance Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Gain on Derivatives Transaction |
- |
- |
0.1 |
- |
- |
|
Gain on Foreign Currency Translation |
4.1 |
0.9 |
- |
1.3 |
2.9 |
|
Gain on Foreign Currency Transaction |
12.7 |
17.3 |
- |
21.0 |
21.0 |
|
G-Inv.Asset Disposal |
- |
- |
- |
- |
0.0 |
|
Gain-Disposal of Sec. Available-Sale |
- |
- |
- |
0.6 |
- |
|
Gain on Valuations of Derivatives |
0.2 |
0.9 |
- |
- |
- |
|
G-Reduction Loss of Sec. Avail-for-Sale |
- |
- |
- |
0.6 |
- |
|
Recovery of Impairment Losses on Other R |
- |
0.0 |
- |
- |
- |
|
Gain on Disposal of Intangibless |
0.0 |
- |
- |
- |
- |
|
Gain on Disposal of PPE |
0.2 |
0.1 |
- |
0.2 |
0.2 |
|
Gain-Exemption of Debts |
- |
- |
- |
0.2 |
- |
|
Finance Guarantee Deposit Comm. Income |
0.0 |
0.0 |
0.1 |
- |
- |
|
Rental Income |
- |
- |
- |
0.0 |
0.0 |
|
Reversal of Allow. for DA |
- |
- |
- |
0.9 |
2.9 |
|
Recovery-Restructuring Reserve |
- |
- |
- |
- |
2.5 |
|
Recovery-Defect Repair Reserve |
- |
- |
- |
0.0 |
0.0 |
|
Miscellaneous Income |
1.6 |
1.5 |
- |
1.1 |
0.9 |
|
Adj for Other Non-Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Interest Expense |
-13.3 |
-12.0 |
-13.6 |
-12.3 |
-15.0 |
|
Interest Capitalized |
2.3 |
0.5 |
0.5 |
- |
- |
|
Adj. for Finance Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Loss on Foreign Currency Transaction |
-11.5 |
-17.4 |
- |
-18.0 |
-40.3 |
|
Loss on Foreign Currency Translation |
-2.3 |
-4.4 |
- |
-0.6 |
-2.1 |
|
Loss on Derivative Transaction |
0.0 |
- |
- |
- |
- |
|
Loss-Disposal of F.A. Avail. for Sale |
0.0 |
-0.2 |
- |
-0.3 |
- |
|
Loss-Disposal of F.A. Held-to-Maturity |
0.0 |
- |
- |
- |
- |
|
Loss on Valt of Derivatives |
-1.0 |
- |
- |
- |
- |
|
Impmt Loss-Fincl Instrm Avail. for Sale |
- |
- |
-0.6 |
-1.7 |
0.0 |
|
Impmt Loss on PPE |
-0.7 |
-21.4 |
- |
- |
- |
|
Impmt Loss on Intangibless |
-0.8 |
- |
- |
- |
- |
|
Loss-Reduction of Equity Method Sec. |
- |
- |
- |
-0.2 |
- |
|
Impmt Loss on Other Receivable |
-3.0 |
0.0 |
- |
- |
- |
|
Loss-Disposal of Accounts Receivable |
- |
- |
- |
-1.4 |
-1.9 |
|
Loss on Disposal of PPE |
-1.1 |
-0.3 |
- |
-0.6 |
-3.7 |
|
Loss on Scrapping of Inventory |
- |
0.0 |
- |
- |
- |
|
Fincl Guarantee Expense |
0.0 |
0.0 |
- |
- |
- |
|
Other Finance Expense |
-0.1 |
0.0 |
-1.4 |
- |
- |
|
Other Allow. for DA |
- |
- |
- |
0.0 |
- |
|
Donations Paid |
-0.2 |
-0.1 |
- |
-0.3 |
-0.1 |
|
Loss on Redemption of Borrowings |
-0.1 |
- |
- |
-0.3 |
- |
|
Depreciation of Idle Asset not Operation |
- |
- |
- |
-0.7 |
-0.3 |
|
Miscellaneous Loss |
-0.4 |
-1.2 |
- |
-0.6 |
-0.8 |
|
Adj for Other Non-Operating Expense |
- |
0.0 |
- |
- |
- |
|
Loss on Disposal of Sec. in Afflt |
-0.5 |
- |
- |
-0.1 |
- |
|
Gain under Equity Method |
- |
- |
- |
0.3 |
1.1 |
|
Loss under Equity Method |
- |
- |
- |
-0.4 |
-0.4 |
|
Gain/Loss on Invmt in Affiliates |
0.6 |
0.6 |
0.5 |
- |
- |
|
Net Income Before Taxes |
12.8 |
3.7 |
27.7 |
11.0 |
0.2 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
5.1 |
-2.5 |
-16.3 |
2.2 |
0.5 |
|
Net Income After Taxes |
7.7 |
6.3 |
44.0 |
8.8 |
-0.3 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
- |
- |
- |
0.0 |
-0.1 |
|
Minority Interest |
-0.7 |
-0.4 |
0.2 |
- |
- |
|
Net Income Before Extra. Items |
7.0 |
5.9 |
44.2 |
8.8 |
-0.4 |
|
Gain on Discontinued Operations |
- |
1.5 |
0.1 |
-0.9 |
-1.5 |
|
Net Income |
7.0 |
7.5 |
44.3 |
7.9 |
-1.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
7.0 |
5.9 |
44.2 |
8.8 |
-0.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
7.0 |
7.5 |
44.3 |
7.9 |
-1.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
48.1 |
47.2 |
47.4 |
47.1 |
47.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.15 |
0.13 |
0.93 |
0.19 |
-0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.15 |
0.16 |
0.93 |
0.17 |
-0.04 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
7.0 |
7.5 |
44.3 |
7.9 |
-1.9 |
|
Diluted Weighted Average Share |
48.1 |
47.2 |
47.4 |
47.1 |
47.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.15 |
0.13 |
0.93 |
0.19 |
-0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.15 |
0.16 |
0.93 |
0.17 |
-0.04 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
16.7 |
3.8 |
31.6 |
12.8 |
5.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
6.7 |
-2.5 |
-14.9 |
2.5 |
2.4 |
|
Normalized Income After Taxes |
10.0 |
6.3 |
46.5 |
10.3 |
3.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
9.3 |
6.0 |
46.7 |
10.3 |
3.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.19 |
0.13 |
0.98 |
0.22 |
0.07 |
|
Diluted Normalized EPS |
0.19 |
0.13 |
0.98 |
0.22 |
0.07 |
|
Interest Expense, Supplemental |
11.0 |
11.5 |
13.2 |
12.3 |
15.0 |
|
Interest Capitalized |
-2.3 |
-0.5 |
-0.5 |
0.0 |
-0.3 |
|
Rental Expense, Supplemental |
3.3 |
3.5 |
3.0 |
2.0 |
1.9 |
|
Advertising Expense, Supplemental |
1.4 |
4.7 |
3.2 |
3.3 |
3.8 |
|
R&D Expense, Supplemental |
8.1 |
9.2 |
9.2 |
8.3 |
6.6 |
|
Depreciation, Supplemental |
27.2 |
27.4 |
23.7 |
22.4 |
28.9 |
|
Amort of Intangibles, Suppleme |
2.2 |
0.9 |
0.5 |
0.4 |
0.4 |
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 |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
32.8 |
49.8 |
79.4 |
65.8 |
23.6 |
|
Current Fincl Deposits |
0.6 |
0.1 |
1.8 |
- |
- |
|
ST Finl Assets |
- |
- |
- |
9.5 |
0.7 |
|
ST Invmt Assets |
- |
- |
- |
0.5 |
0.7 |
|
Current Securities Held-to-Maturities |
- |
0.1 |
0.0 |
- |
- |
|
ST Loans |
- |
- |
- |
2.6 |
2.5 |
|
Deposits Received for Guarantees |
- |
- |
- |
0.0 |
0.0 |
|
Trade Receivable, Net |
124.7 |
128.0 |
117.8 |
- |
- |
|
Trade Rcvbls,G |
- |
- |
- |
83.6 |
89.1 |
|
Allow. for DA for Trade Receivable |
- |
- |
- |
-5.0 |
-3.6 |
|
Other Receivable |
6.2 |
8.9 |
6.9 |
4.6 |
7.8 |
|
Accrued Income |
- |
- |
- |
0.2 |
0.2 |
|
Advance Payments |
2.1 |
0.2 |
0.5 |
0.8 |
0.1 |
|
Prepaid Expense |
1.5 |
1.7 |
1.5 |
0.8 |
1.0 |
|
Receivable of Corporate Tax Refund |
0.2 |
0.1 |
0.9 |
0.3 |
0.5 |
|
Prepaid Value Added Taxes |
3.3 |
3.1 |
1.7 |
- |
- |
|
Current Derivative Assets |
- |
0.0 |
- |
- |
- |
|
Adj. for Other Current Assets |
- |
- |
0.0 |
- |
- |
|
Other Current Assets |
- |
- |
- |
1.3 |
1.1 |
|
Merchandises |
1.1 |
1.4 |
0.7 |
0.5 |
0.4 |
|
Finished Goods |
38.6 |
40.5 |
34.6 |
27.8 |
25.6 |
|
Semi-finished Goods |
25.7 |
18.2 |
13.6 |
10.1 |
8.8 |
|
Works in Process |
6.8 |
17.9 |
14.8 |
12.8 |
11.3 |
|
Raw Materials |
16.8 |
22.9 |
15.5 |
13.5 |
12.2 |
|
Supplemental Raw Materials |
- |
- |
- |
2.6 |
2.4 |
|
Raw Materials in Transit, Current |
- |
- |
- |
3.5 |
3.8 |
|
Supplemental Materials in Transit |
- |
- |
- |
0.2 |
- |
|
Residual Products |
0.2 |
0.1 |
0.1 |
0.2 |
0.5 |
|
Supplies |
2.5 |
0.7 |
0.4 |
0.6 |
0.5 |
|
Goods in Transit |
- |
- |
- |
0.0 |
1.6 |
|
Inventory in Transit |
5.0 |
13.7 |
4.3 |
- |
- |
|
Other Inventories |
4.9 |
0.0 |
3.4 |
- |
- |
|
Adj. for Inventories |
- |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
273.1 |
307.3 |
297.7 |
237.1 |
191.0 |
|
|
|
|
|
|
|
|
Non-Current Fincl Deposits |
1.2 |
0.3 |
0.1 |
- |
- |
|
LT Finl Assets |
- |
- |
- |
0.0 |
0.0 |
|
LT Invest Secs. |
- |
- |
- |
6.1 |
4.1 |
|
Other Investment Assets |
- |
- |
- |
0.6 |
0.2 |
|
Invmt in Properties |
13.1 |
2.9 |
3.3 |
- |
- |
|
Non-Current Securities Available-for-Sal |
0.7 |
0.6 |
2.2 |
- |
- |
|
Non-Current Securities Held-to-Maturitie |
- |
2.2 |
2.4 |
- |
- |
|
Invmt in Affiliates |
4.6 |
4.3 |
3.9 |
7.1 |
9.1 |
|
Long-term Loans |
- |
- |
- |
0.0 |
0.8 |
|
Long-term Non-trade Receivables |
- |
- |
- |
0.0 |
0.5 |
|
Other Non-Current Receivable |
4.9 |
7.5 |
6.7 |
- |
- |
|
Non-Current Advance Payments |
1.9 |
- |
- |
- |
- |
|
Non-Current Prepaid Expense |
- |
0.0 |
- |
- |
- |
|
LT Guarantee Dep |
- |
- |
- |
4.2 |
2.6 |
|
Non-Current Derivatives Assets |
- |
0.1 |
- |
- |
- |
|
Other in Other Non-Current Assets |
0.2 |
0.1 |
0.1 |
- |
- |
|
Adj. for Other Non-Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Non-Current Deferred Income Taxes Assets |
16.1 |
15.8 |
12.4 |
0.4 |
1.9 |
|
Lands |
65.0 |
63.0 |
62.4 |
78.4 |
73.8 |
|
Buildings |
120.6 |
118.1 |
114.0 |
114.1 |
107.4 |
|
Buildings-Depreciation |
-38.4 |
-34.4 |
-31.9 |
-32.2 |
-28.2 |
|
Buildings-Reduction |
-0.6 |
-0.6 |
-0.6 |
- |
- |
|
Structures |
25.9 |
24.0 |
22.3 |
20.6 |
17.0 |
|
Structures-Depreciation |
-9.5 |
-8.0 |
-7.2 |
-6.2 |
-5.2 |
|
Tools & Equipments |
24.6 |
21.0 |
17.8 |
15.0 |
13.2 |
|
Tools & Equipments-Depreciation |
-17.6 |
-15.3 |
-14.1 |
-12.3 |
-10.6 |
|
Tools & Equipments-Government Subsidy |
-0.4 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
c |
0.0 |
- |
- |
- |
- |
|
Machineries & Equipments |
590.4 |
527.6 |
486.0 |
456.0 |
415.4 |
|
Machineries & Equipments-Depreciation |
-435.6 |
-394.5 |
-381.6 |
-367.3 |
-327.9 |
|
Machineries & Equipments-Govern. Subsidy |
-0.3 |
-0.3 |
-0.2 |
-0.1 |
-0.1 |
|
Machineries & Equipments-Reduction |
-22.9 |
-20.6 |
- |
- |
- |
|
Vehicles |
4.0 |
3.9 |
3.8 |
3.4 |
3.2 |
|
Vehicles-Depreciation |
-3.1 |
-2.9 |
-2.8 |
-2.4 |
-2.2 |
|
Vehicles-Reduction |
0.0 |
- |
- |
- |
- |
|
Other Property Plant & Equipment |
0.2 |
0.2 |
0.2 |
- |
- |
|
Other Tangibles-Depreciation |
-0.2 |
-0.2 |
-0.2 |
- |
- |
|
Construction in Progress |
74.2 |
24.8 |
26.8 |
15.3 |
3.1 |
|
Machines in Transit |
- |
0.0 |
6.3 |
0.6 |
0.9 |
|
Adj. for Property, Plant & Equipment |
0.0 |
- |
- |
- |
- |
|
Membership Rights |
3.9 |
1.1 |
1.0 |
1.0 |
0.9 |
|
Industrial Property Rights |
0.0 |
0.0 |
0.1 |
- |
- |
|
Construction in Progress-Intangibles |
3.1 |
5.2 |
1.7 |
0.7 |
- |
|
Software |
12.6 |
3.6 |
1.0 |
1.3 |
1.0 |
|
Other Intangibless |
16.3 |
16.2 |
16.2 |
- |
- |
|
Adj. for Intangibless |
- |
- |
- |
- |
- |
|
Total Assets |
728.0 |
673.1 |
649.7 |
541.3 |
472.2 |
|
|
|
|
|
|
|
|
Current Trade Payable |
75.5 |
87.6 |
107.8 |
90.3 |
40.4 |
|
Other Payable |
- |
- |
- |
24.5 |
26.8 |
|
Other Current Payable |
50.4 |
49.7 |
43.7 |
- |
- |
|
Income Taxes Payable |
1.9 |
0.5 |
0.1 |
0.1 |
0.4 |
|
Accrued Expense |
- |
- |
- |
6.5 |
8.5 |
|
Advance from Customers, Current |
9.0 |
4.0 |
4.7 |
1.5 |
1.0 |
|
Unearned Income |
- |
- |
- |
1.1 |
0.2 |
|
Withheld |
1.2 |
1.1 |
1.3 |
1.2 |
0.9 |
|
Lease Guarantee |
- |
- |
- |
2.6 |
2.5 |
|
Sec Dep Withheld |
- |
- |
- |
0.0 |
0.0 |
|
Value Added Taxes Withheld |
0.8 |
0.2 |
0.0 |
- |
- |
|
Current Borrowings |
139.7 |
90.4 |
82.7 |
34.3 |
16.2 |
|
Current Portion of Long-term Liabilities |
11.9 |
26.4 |
30.9 |
17.2 |
15.1 |
|
Current Fincl Lease Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Current Derivatives Liabilities |
0.6 |
0.3 |
1.2 |
- |
- |
|
Reserve-Sales Guarantee |
- |
- |
- |
0.9 |
0.4 |
|
Resv for Current Liabilities |
1.1 |
0.9 |
0.9 |
- |
- |
|
Government Subsidy Related Liabilities |
1.9 |
1.5 |
1.1 |
- |
- |
|
Financial Guarantee Contract Liability |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Current Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Current Portion of Bonds |
28.1 |
- |
- |
6.9 |
- |
|
Total Current Liabilities |
322.3 |
262.5 |
274.4 |
187.2 |
112.4 |
|
|
|
|
|
|
|
|
Bonds |
56.9 |
44.6 |
- |
- |
- |
|
Non-Current Borrowings |
38.8 |
81.7 |
84.0 |
101.0 |
133.9 |
|
Capital Leased Liabilities, LD |
0.0 |
0.0 |
- |
- |
- |
|
Total Long Term Debt |
95.6 |
126.3 |
84.0 |
101.0 |
133.9 |
|
|
|
|
|
|
|
|
Other Non-Current Payable |
5.5 |
5.0 |
5.8 |
3.9 |
0.3 |
|
Non-Current Derivatives Liabilities |
0.6 |
0.7 |
0.3 |
- |
- |
|
Fincl Guarantee Contracts Liabilities |
- |
- |
0.0 |
- |
- |
|
Deferred Income Taxes, LT Liabilities |
- |
0.1 |
0.0 |
- |
- |
|
Rsv-Error Adjus. |
- |
- |
- |
0.3 |
0.1 |
|
Non-Current Prov.s |
0.5 |
0.4 |
0.5 |
- |
- |
|
Prov.for Retirement & Severance Benefits |
- |
- |
- |
26.3 |
28.7 |
|
Deposit-Retirement Insurance |
- |
- |
- |
-7.7 |
-9.7 |
|
Transfer to National Pension Fund |
- |
- |
- |
-0.5 |
-0.7 |
|
Non-Current Fixed Benefit Liabilities |
14.3 |
9.0 |
8.9 |
- |
- |
|
Minority Interests |
2.6 |
2.0 |
1.6 |
1.4 |
2.2 |
|
Total Liabilities |
441.3 |
406.0 |
375.6 |
311.9 |
267.1 |
|
|
|
|
|
|
|
|
Capital Stock |
222.5 |
205.9 |
209.0 |
203.7 |
186.7 |
|
Other Capital Surplus |
- |
- |
- |
32.1 |
29.7 |
|
Stock Options |
- |
- |
- |
1.6 |
0.6 |
|
Additional Paid-in Capital |
- |
- |
- |
3.4 |
- |
|
Unappropriated Retained Earnings |
- |
- |
- |
-21.9 |
-28.2 |
|
Retained Earnings |
69.2 |
69.0 |
64.1 |
- |
- |
|
Unissu Share Cap |
- |
- |
- |
- |
5.1 |
|
Gain-Valu. of Sec. Available for Sale |
- |
- |
- |
- |
0.5 |
|
Loss-Secs for Sale Valuation |
- |
- |
- |
0.0 |
-1.7 |
|
Negative Capital Change U/ Equity Mtd. |
- |
- |
- |
-0.7 |
-12.4 |
|
Capital Change, Equity Method |
-0.1 |
-0.1 |
-0.1 |
- |
- |
|
Treasury Stock |
- |
- |
- |
0.0 |
0.0 |
|
Overseas Business Translation Credit |
- |
- |
- |
11.2 |
24.8 |
|
Overseas Bus. Translation Debit/Credit |
-1.7 |
0.3 |
-0.3 |
- |
- |
|
Gain/Losses on Valt of Derivatives |
-1.0 |
-1.5 |
-1.3 |
- |
- |
|
Other Capital Items |
-2.2 |
-6.7 |
2.7 |
- |
- |
|
Adj.-Accum. Other Comprehensive Income |
0.0 |
- |
- |
- |
- |
|
Total Equity |
286.7 |
267.1 |
274.1 |
229.4 |
205.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
728.0 |
673.1 |
649.7 |
541.3 |
472.2 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
47.1 |
46.4 |
47.4 |
47.4 |
47.0 |
|
Total Common Shares Outstanding |
47.1 |
46.4 |
47.4 |
47.4 |
47.0 |
|
T/S-Ordinary Shares |
0.4 |
1.0 |
0.0 |
0.0 |
0.0 |
|
Accumulated Intangible Amortization |
5.3 |
3.1 |
2.3 |
1.4 |
1.0 |
|
Deferred Revenue, Current |
9.0 |
4.0 |
4.7 |
2.6 |
1.2 |
|
Full-Time Employees |
- |
1,178 |
1,028 |
1,047 |
1,095 |
|
Number of Common Shareholders |
- |
- |
19,045 |
17,542 |
6,348 |
|
Long-Term Debts Due in 1 Year |
40.0 |
26.4 |
- |
17.3 |
15.1 |
|
Long-Term Debts Due in 2 Years |
8.6 |
42.6 |
- |
21.6 |
15.9 |
|
Long-Term Debts Due in 3 Years |
76.1 |
74.3 |
- |
25.9 |
20.0 |
|
Long-Term Debts Due in 4 Years |
9.6 |
3.5 |
- |
51.2 |
24.0 |
|
Long-Term Debts Due in 5 Years |
0.2 |
1.2 |
- |
0.2 |
71.6 |
|
Long-Term Debts Due Remaining |
1.3 |
5.0 |
- |
1.2 |
1.3 |
|
Total Long Term Debt, Supplemental |
135.8 |
153.0 |
- |
117.5 |
147.9 |
|
Capital Lease Due in 1 Year |
0.0 |
0.0 |
- |
- |
- |
|
Capital Lease Due in 5 Years |
0.0 |
0.0 |
- |
- |
- |
|
Interest Costs |
0.0 |
0.0 |
- |
- |
- |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
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 |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
7.7 |
7.8 |
44.1 |
7.9 |
-1.9 |
|
Depreciation |
27.3 |
27.4 |
23.7 |
22.4 |
28.9 |
|
Amort. of Intangibless |
2.2 |
0.9 |
0.5 |
0.4 |
0.4 |
|
Stock-Based Compensation |
0.2 |
0.5 |
1.0 |
0.9 |
0.6 |
|
Amort-Bad Debt Exp |
- |
- |
- |
2.1 |
0.7 |
|
Expenses of Allow. for Other DA |
- |
- |
- |
0.0 |
0.0 |
|
Rvrs-Bad Debt Expenses |
- |
- |
- |
-0.9 |
-2.9 |
|
Amortization-Present Value Discount, ON |
- |
- |
- |
-0.1 |
-0.2 |
|
Finance Guarantee Deposit Comm. Income |
0.0 |
0.0 |
-0.1 |
- |
- |
|
Dividend Income |
- |
-0.2 |
-0.1 |
- |
- |
|
Interest Income |
-1.0 |
-1.0 |
-3.7 |
- |
- |
|
Interest Expenses |
11.0 |
11.5 |
13.4 |
2.3 |
1.0 |
|
Corporate Taxes Expense,OP |
5.1 |
1.1 |
0.0 |
- |
- |
|
Corporate Taxes Expense, ON |
- |
-3.6 |
-16.3 |
- |
- |
|
Fincl Guarantee Expense |
0.0 |
0.0 |
- |
- |
- |
|
Other Fincl Expense |
- |
0.0 |
1.4 |
- |
- |
|
Payment for Retirement Allow., ONCI |
4.3 |
4.1 |
4.4 |
4.7 |
5.9 |
|
Defect Repair Expense |
- |
- |
- |
0.3 |
0.0 |
|
Rec. of Prov.for Construction Warranties |
- |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Quality-Control Expense |
- |
- |
- |
0.5 |
0.5 |
|
Sales Guarantee Expense |
0.3 |
0.8 |
0.0 |
- |
- |
|
Rec. of Prov. for Sales Guarantee |
- |
0.0 |
0.0 |
- |
- |
|
Gain on Assets Contributed |
- |
- |
-0.2 |
- |
- |
|
Gains on Valts of Derivatives Assets |
-0.2 |
-0.9 |
- |
- |
- |
|
Losses on Foreign Currency Translation |
2.3 |
4.4 |
0.7 |
0.6 |
2.1 |
|
Loss on Derivatives Transaction |
0.0 |
- |
- |
- |
- |
|
Loss on Valt of Derivative Fincl Assets |
1.0 |
- |
- |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.2 |
- |
- |
|
Recovery-Restructuring Reserve |
- |
- |
- |
- |
-2.5 |
|
Loss-Disposal of Trade Receivable |
- |
- |
- |
1.4 |
- |
|
Loss on Disposal of Investment in Affili |
0.5 |
0.2 |
- |
0.1 |
- |
|
Loss on Disposal of Property, Plant and |
1.1 |
0.3 |
1.1 |
0.6 |
3.7 |
|
Loss on Disposal of Financial Assets Ava |
0.0 |
0.2 |
- |
0.3 |
- |
|
Loss-Sale of FA Held-to-Maturity |
0.0 |
- |
- |
- |
- |
|
Losses on Valt of Inventories |
2.9 |
4.2 |
0.2 |
0.3 |
0.5 |
|
Impmt Losses on Equity Method Sec. |
- |
- |
- |
0.2 |
- |
|
Impmt Loss-Fincl Asset Avail.-for-Sale |
- |
- |
0.6 |
1.7 |
- |
|
Impmt Loss on Trade & Other Receviables |
3.0 |
0.0 |
2.8 |
- |
- |
|
Impmt Loss on Trade Receivables |
2.9 |
- |
- |
- |
- |
|
Impmt Loss on Tangibles |
0.7 |
21.4 |
0.6 |
- |
0.1 |
|
Impmt Loss on Intangibles |
0.8 |
- |
- |
- |
- |
|
Loss -Redemption of LT Borrowings |
- |
- |
- |
0.3 |
- |
|
Loss under Equity Method |
- |
- |
- |
0.4 |
0.4 |
|
Gain-Disp. of Security Avail-for-Sale |
- |
- |
- |
-0.6 |
- |
|
G-Inv.Asset Disp |
- |
- |
- |
- |
0.0 |
|
Gain on Disposal of Property, Plant and |
-0.2 |
-0.1 |
-0.6 |
-0.2 |
-0.2 |
|
Gain on Sale of Intangibles |
0.0 |
- |
- |
- |
- |
|
Recovery-Sec. Avail-for-Sale Reduction |
- |
- |
- |
-0.6 |
- |
|
Rec. of Impmt Loss-Trade & Other Recv. |
- |
-0.2 |
- |
- |
- |
|
Rec. of Losses on Valt of Inventories |
-0.4 |
0.0 |
-0.1 |
- |
- |
|
Gain under Equity Method |
-0.6 |
-0.7 |
-0.5 |
-0.3 |
-1.1 |
|
Gains on Foreign Currency Translation |
-4.1 |
-0.9 |
-0.6 |
-0.9 |
-2.8 |
|
Dividend Received from Affiliates |
- |
- |
- |
0.1 |
0.1 |
|
Gain-Debt Exemption |
- |
- |
- |
-0.2 |
- |
|
Trade Receivables |
8.3 |
-14.4 |
-13.0 |
8.9 |
-19.7 |
|
Accrued Income |
- |
- |
- |
0.0 |
0.6 |
|
Other Receivables |
1.1 |
-3.0 |
-1.5 |
4.1 |
-4.4 |
|
Prepaid Expenses |
- |
- |
- |
0.2 |
0.1 |
|
Advance Payments |
- |
- |
- |
-0.6 |
-0.1 |
|
Inventory |
18.1 |
-34.1 |
-12.7 |
-0.2 |
3.5 |
|
Corporate Tax Refundable |
- |
- |
- |
0.3 |
0.1 |
|
Accrued Income Taxes |
- |
- |
- |
- |
0.5 |
|
Increase-Security Deposit |
- |
- |
- |
0.0 |
0.1 |
|
Other Current Assets |
-1.6 |
-1.5 |
-0.3 |
-0.2 |
1.9 |
|
Other Non-Current Assets |
-1.8 |
0.3 |
-1.7 |
- |
- |
|
Trade Payable |
-15.3 |
-20.5 |
11.7 |
41.2 |
16.9 |
|
Other Payable |
-4.0 |
4.6 |
11.0 |
-3.1 |
-3.1 |
|
Other Non-Current Payable |
0.1 |
-0.2 |
-0.5 |
- |
- |
|
Lease Guarantee |
- |
- |
- |
0.0 |
-0.3 |
|
Accrued Expenses |
- |
- |
- |
-2.4 |
2.5 |
|
LT Account Payable |
- |
- |
- |
4.1 |
0.4 |
|
Unearned Income |
- |
- |
- |
1.0 |
0.2 |
|
Advances Received |
- |
- |
- |
0.0 |
-0.2 |
|
Deposits Withheld |
- |
- |
- |
0.1 |
-2.5 |
|
Prov.s |
-0.1 |
-0.8 |
-0.3 |
- |
- |
|
Deferred Taxes-Asset |
- |
- |
- |
1.4 |
- |
|
Other Current Liabilities |
5.2 |
-0.8 |
0.2 |
- |
- |
|
Other Non-current Liabilities |
0.0 |
- |
- |
- |
- |
|
Prov. for Sales Guarantee |
0.0 |
- |
- |
- |
- |
|
Rsv-Error Adjustment |
- |
- |
- |
-0.1 |
0.0 |
|
Nation Pension Fnd |
- |
- |
- |
0.2 |
0.2 |
|
Retiremt Allow Paymt |
- |
- |
- |
-8.9 |
-5.2 |
|
Retirement Insurance |
- |
- |
- |
2.5 |
1.1 |
|
Fixed Benefit Liabilities |
-2.9 |
-5.5 |
-15.2 |
- |
- |
|
Cash-Tax Refunded |
- |
0.5 |
- |
- |
- |
|
Cash-Tax Paid |
-1.7 |
-0.1 |
-0.5 |
- |
- |
|
Cash From Operating Activities |
72.3 |
1.6 |
49.5 |
92.3 |
26.2 |
|
|
|
|
|
|
|
|
Decrease in Fincl Deposit |
0.1 |
1.7 |
9.8 |
- |
- |
|
Proceeds from Sale of Short-term Financi |
- |
- |
- |
- |
4.4 |
|
Dec-LT Finl Asset |
- |
- |
- |
- |
0.0 |
|
Dec-ST Loans |
- |
- |
- |
1.4 |
1.0 |
|
Dec-LT Loans |
- |
- |
- |
0.9 |
4.0 |
|
Decrease in Other Receivables |
41.6 |
0.9 |
3.0 |
- |
- |
|
Decs in Other Non-Current Receivables |
1.6 |
0.2 |
5.8 |
- |
1.1 |
|
Decrease-Guarantee Deposit |
- |
- |
- |
0.3 |
0.2 |
|
Decrease in Derivative |
-0.1 |
- |
- |
- |
- |
|
Decrease-Investment Securities |
- |
- |
- |
1.5 |
33.9 |
|
Disposal-ST Investment Assets |
- |
- |
- |
0.7 |
0.3 |
|
Disp-Other Investment Assets |
- |
- |
- |
0.1 |
- |
|
Disposal of Securities Available-for-Sal |
- |
1.5 |
- |
- |
- |
|
Disposal of Financial Assets Held to Mat |
2.3 |
0.0 |
7.5 |
- |
- |
|
Disposal of Investment in Subsidiaries |
- |
0.9 |
- |
- |
- |
|
Disp-Land |
- |
- |
- |
0.2 |
5.3 |
|
Disposal of Building |
- |
- |
- |
0.2 |
0.3 |
|
Disp-Structure |
- |
- |
- |
0.0 |
- |
|
Disp-Machinery |
- |
- |
- |
0.2 |
0.3 |
|
Disp-Vehicles |
- |
- |
- |
0.1 |
0.0 |
|
Disp-Tools/Equipmt |
- |
- |
- |
0.0 |
0.0 |
|
Disposal of Property, Plant and Equipmen |
0.4 |
6.3 |
3.4 |
- |
- |
|
Decrease-Membership Right |
- |
- |
- |
- |
0.5 |
|
Sale of Intangibles |
0.2 |
- |
- |
- |
- |
|
Increase in Fincl Deposit |
-0.6 |
- |
- |
- |
- |
|
Inc-ST Finl Asset |
- |
-0.4 |
-2.0 |
-8.0 |
- |
|
Inc-ST Loans |
- |
- |
- |
-0.5 |
-0.7 |
|
Increase in Other Receivables |
-42.4 |
-0.3 |
-0.4 |
- |
- |
|
Incs in Other Non-Current Receivables |
-0.8 |
-1.0 |
-1.8 |
- |
- |
|
Increase-Guarantee Deposit |
- |
- |
- |
-1.6 |
-1.4 |
|
Increase-Investment Securities |
- |
- |
- |
-1.2 |
-1.0 |
|
Incs in Non-Current Fincl Deposit |
-0.7 |
- |
- |
- |
- |
|
Purchase of Sec. Available-for-Salec |
0.0 |
- |
- |
- |
- |
|
Purchase of Fincl Asset Held to Maturity |
- |
0.0 |
-1.2 |
- |
- |
|
Purchase of Buildings |
- |
- |
- |
-0.4 |
-0.1 |
|
Purchase of Structures |
- |
- |
- |
-0.2 |
-0.3 |
|
Purchase of Machinery |
- |
- |
- |
-3.8 |
-5.0 |
|
Purchase of Vehicles |
- |
- |
- |
-0.3 |
-0.7 |
|
Acq-Tools/Equipmt |
- |
- |
- |
-1.0 |
-1.3 |
|
Purchase of Construction in Progress |
- |
- |
- |
-17.4 |
-12.7 |
|
Acq-Mach. In Transit |
- |
- |
- |
-5.1 |
-3.7 |
|
Purchase of Tangibles |
-84.2 |
-65.2 |
-56.7 |
- |
- |
|
Purchase of Computer Software |
- |
- |
- |
-0.5 |
-0.7 |
|
Purchase of Intangibless |
-10.4 |
-7.2 |
0.0 |
- |
- |
|
Cash Interest Received |
1.1 |
1.0 |
3.9 |
- |
- |
|
Dividend Received |
0.2 |
0.3 |
0.2 |
- |
- |
|
Cash From Investing Activities |
-91.7 |
-61.4 |
-28.6 |
-34.3 |
23.7 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
123.6 |
84.2 |
115.0 |
18.8 |
- |
|
Increase in Non-Current Borrowings |
5.0 |
29.9 |
103.1 |
- |
161.0 |
|
Increase in Bonds |
35.5 |
45.7 |
- |
- |
- |
|
Increase-Current Portion of Bond |
- |
- |
- |
6.3 |
- |
|
Incr-Oversea Trns Cr |
- |
- |
- |
- |
0.1 |
|
Increase in Government Subsidy |
2.0 |
2.1 |
1.5 |
- |
- |
|
Dec-Curr LT Liabs |
- |
- |
- |
-18.7 |
-201.3 |
|
Decrease in Current Borrowings |
-82.0 |
-76.2 |
-97.9 |
-3.4 |
-17.9 |
|
Decrease in Current Portion of Bonds |
- |
0.0 |
-5.6 |
- |
- |
|
Decrease in Non-Current Borrowings |
-40.0 |
-3.1 |
-99.3 |
-24.0 |
- |
|
Decs in Current Portion of LT Liability |
-26.9 |
-31.6 |
-17.3 |
- |
- |
|
Decs in Current Capital Lease Liability |
0.0 |
- |
- |
- |
- |
|
Increase in Treasury Stocks |
-5.8 |
-10.6 |
- |
- |
- |
|
Increase-Stock Option |
- |
- |
- |
0.0 |
- |
|
Net Change in Other Cash |
- |
- |
- |
-0.1 |
-1.1 |
|
Exercise of Stocks Options |
- |
0.4 |
- |
- |
- |
|
Redemption-Debt for Equity Swap |
- |
- |
- |
-0.1 |
- |
|
Cash Interest Paid |
-11.0 |
-10.7 |
-12.9 |
- |
- |
|
Cash From Financing Activities |
0.3 |
30.2 |
-13.3 |
-21.3 |
-59.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.8 |
0.0 |
0.2 |
- |
- |
|
Incs or Decs in Cash & Cash Equivalents |
-19.8 |
-29.6 |
7.8 |
36.7 |
-9.2 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
50.9 |
81.3 |
70.2 |
23.3 |
36.3 |
|
Net Cash Ending Balance |
31.1 |
51.8 |
77.9 |
60.0 |
27.0 |
|
Cash Interest Paid |
11.0 |
10.7 |
12.9 |
- |
- |
|
Cash Taxes Paid |
1.7 |
-0.4 |
0.5 |
- |
- |
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.65.96 |
|
UK Pound |
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
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.