MIRA INFORM REPORT
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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ILSHIN SPINNING CO. |
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Registered Office : |
Ilshin Bldg. ,15-15, Yeouido-Dong, Yeongdeungpo-Gu Yongdeungpo-Gu Seoul, 150872 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.11.1951 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
· Engaged in production of cotton and cotton/synthetic blended yarns and fabrics · producer of various kinds of spun yarns such as Combed cotton yarn, Modal, Tencel, T/C, CVC, T/R, C/R, P/R, Tri-blend, O.E, Thermolite, Coolmax, Slub yarn & Nep yarn |
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No. of Employees : |
1,096 (31.12.2011) |
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 : |
Slow but Correct |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
South Korea ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible
growth and global integration to become a high-tech industrialized economy. In
the 1960s, GDP per capita was comparable with levels in the poorer countries of
Africa and Asia. In 2004, South Korea joined the trillion dollar club of world
economies, and is currently the world's 12th largest economy. Initially, a
system of close government and business ties, including directed credit and
import restrictions, made this success possible. The government promoted the
import of raw materials and technology at the expense of consumer goods, and
encouraged savings and investment over consumption. The Asian financial crisis
of 1997-98 exposed longstanding weaknesses in South Korea's development model
including high debt/equity ratios and massive short-term foreign borrowing. GDP
plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted
numerous economic reforms following the crisis, including greater openness to
foreign investment and imports. Growth moderated to about 4% annually between
2003 and 2007. Korea''s export focused economy was hit hard by the 2008 global
economic downturn, but quickly rebounded in subsequent years, reaching 6.3%
growth in 2010. The US-South Korea Free Trade Agreement was ratified by both
governments in 2011 and went into effect in March 2012. Throughout 2012 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The incoming administration in 2013, following
the December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors,
such as services. The South Korean economy''s long term challenges include a
rapidly aging population, inflexible labor market, and heavy reliance on
exports - which comprise half of GDP.
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Source : CIA |
Company name & address
Ilshin Spinning Co.
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Business
Description
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ILSHIN SPINNING CO., LTD is a Korea-based company principally engaged
in the manufacture of textiles. producer of various kinds of spun yarns such as Combed
cotton yarn, Modal, Tencel, T/C, CVC, T/R, C/R, P/R, Tri-blend, O.E,
Thermolite, Coolmax, Slub yarn & Nep yarn The Company operates in five business divisions. Its textile division
provides three categories of textiles: yarns, including combed cotton yarns,
core spun yarns and blended yarns; dyed yarns and dyed fabrics, including
rayon-blended yarns, cotton yarns, cotton knitted fabrics, cotton-blended
fabrics and others, as well as fabric products. Its cosmetics division
distributes cosmetics under the brand name of THE BODY SHOP. Its investment
division involves in the venture capital business. Its wine division imports
overseas wines and distributes them to domestic market. Its property leasing
division involves in the leasing of commercial and industrial buildings. For
the nine months ended 30 September 2013, Ilshin Spinning Co. revenues
decreased 5% to W315.88B. Net income increased from W4.36B to W23.59B.
Revenues reflect Cosmetics Business segment decrease of 8% to W19.63B,
Textile segment decrease of 1% to W82.12B, Alcohol Inporing & Sales
segment decrease of 9% to W4.64B, South Korea segment decrease of 7% to
W92.66B. Net income reflects Textile segment income totaling W6.9B vs. loss
of W4.87B. |
Industry
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Industry |
Textile Manufacturing |
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ANZSIC 2006: |
1312 - Natural Textile Manufacturing |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
Key
Executives
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Name |
Title |
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Yeong Ho Kim |
Chairman of the Board, Co-Chief Executive Officer |
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Yeong Sik Jung |
Internal Auditor |
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Yeong Chae Seo |
IR Contact Officer |
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Jung Soo Kim |
President |
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KyuRyong Choi |
Manager-Yarns Internal Sales |
Financial
Summary
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As of 30-Sep-2013 |
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Stock Snapshot
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1 - Profit &
Loss Item Exchange Rate: USD 1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate:
USD 1 = KRW 1066.4
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Corporate
Family |
Corporate
Structure News: |
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Ilshin Spinning
Co. |
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Ilshin Spinning Co. |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Seoul |
Korea, Republic of |
Textile Manufacturing |
389.7 |
1,096 |
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Subsidiary |
Seoul |
Korea, Republic of |
Health and Personal Care Wholesale |
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250 |
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Subsidiary |
Seoul |
Korea, Republic of |
Investment Services |
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15 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Nonclassifiable Establishments |
55.0 |
245 |
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Subsidiary |
Seoul |
Korea, Republic of |
Clothing and Apparel Manufacturing |
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5 |
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Subsidiary |
Seoul |
Korea, Republic of |
Alcoholic Beverage Wholesale |
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68 |
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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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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Assistant Managing Director |
Director/Board Member |
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Assistant Managing 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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Non-Executive Independent Director |
Director/Board Member |
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Assistant Managing Director |
Director/Board Member |
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Executives |
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President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
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Chairman of the Board, Co-Chief Executive
Officer |
Chief Executive Officer |
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President |
President |
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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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Internal Auditor |
Accounting Executive |
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Internal Auditor |
Accounting Executive |
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Manager-Investment Inquiries |
Investment Executive |
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Manager-Yarns Internal Sales |
Sales Executive |
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Manager-Dyeing Sales |
Sales Executive |
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Manager-Yarns Overseas Sales & Product
Inquiries |
Sales Executive |
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Manager-Yarns Internal Sales |
Sales Executive |
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Manager-Yarns Internal Sales |
Sales Executive |
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Manager-Fabrics Sales |
Sales Executive |
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IR Contact Officer |
Investor Relations Executive |
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Ilshin Spinning Co Ltd to establish subsidiary in Vietnam Nov 29, 2013
Ilshin Spinning Co Ltd:Says to establish a new wholly owned subsidiary namely ILSHIN
VIETNAM CO.,LTD in Vietnam.Says the subsidiary, to be capitalized at 15 billion
won, will be engaged in the production and sale of cotton yarn.Expected
establishment date was not disclosed.
Ilshin Spinning Co Ltd Announces Change in Shareholding Structure Oct 08, 2013
Ilshin Spinning Co Ltd announced that National Pension Service has purchased
120,022 shares of the Company, representing a 5.00% stake.
Ilshin Spinning Co Ltd Announces Changes in Shareholding Structure Aug 05, 2013
Ilshin Spinning Co Ltd announced that KB Asset Management has acquired 73,233
shares of the Company, equivalent to a 3.05% stake. After the transaction, KB
Asset Management's stake in the Company has increased to 9.37% from 6.32%.
Ilshin Spinning Co Ltd Announces Changes in Shareholding Structure Jun 14, 2013
Ilshin Spinning Co Ltd announced that KB Asset Management Co.,Ltd has purchased
151,676 shares of the Company, representing a 6.32% stake.
Ilshin Spinning Co Ltd Declares Annual Cash Dividend for FY 2012 Feb 20, 2013
Ilshin Spinning Co Ltd announced that it has declared an annual cash dividend
of KRW 750 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 1.0% and
the total amount of the cash dividend is KRW 1,722,346,500. The Company's
annual cash dividend for the fiscal year 2011 was KRW 1,000 per share.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
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Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
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Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
389.7 |
434.5 |
407.2 |
310.1 |
329.5 |
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Revenue |
389.7 |
434.5 |
407.2 |
310.1 |
329.5 |
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Other Revenue |
0.0 |
0.5 |
0.4 |
6.6 |
5.0 |
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Other Revenue, Total |
0.0 |
0.5 |
0.4 |
6.6 |
5.0 |
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Total Revenue |
389.7 |
435.0 |
407.6 |
316.7 |
334.5 |
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Cost of Revenue |
332.3 |
380.5 |
296.5 |
239.0 |
253.6 |
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Cost of Revenue, Total |
332.3 |
380.5 |
296.5 |
239.0 |
253.6 |
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Gross Profit |
57.3 |
54.0 |
110.7 |
71.1 |
75.9 |
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Selling/General/Administrative Expense |
39.0 |
35.6 |
32.4 |
26.0 |
33.9 |
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Labor & Related Expense |
16.2 |
16.4 |
16.0 |
12.4 |
13.4 |
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Advertising Expense |
4.1 |
3.4 |
2.8 |
2.4 |
2.5 |
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Total Selling/General/Administrative Expenses |
59.3 |
55.4 |
51.2 |
40.7 |
49.8 |
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Research & Development |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
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Depreciation |
2.1 |
1.9 |
1.7 |
1.3 |
2.3 |
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Amortization of Intangibles |
0.6 |
0.4 |
0.6 |
0.7 |
0.7 |
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Depreciation/Amortization |
2.7 |
2.3 |
2.3 |
2.0 |
3.0 |
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Investment Income -
Operating |
-11.1 |
-16.6 |
-8.9 |
- |
- |
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Interest/Investment Income - Operating |
-11.1 |
-16.6 |
-8.9 |
- |
- |
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Interest Expense (Income) - Net Operating Total |
-11.1 |
-16.6 |
-8.9 |
- |
- |
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Loss (Gain) on Sale of Assets - Operating |
- |
- |
-0.3 |
- |
- |
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Unusual Expense (Income) |
- |
- |
-0.3 |
- |
- |
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Other Operating Expense |
- |
- |
0.4 |
- |
- |
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Other, Net |
- |
- |
-1.0 |
- |
- |
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Other Operating Expenses, Total |
- |
- |
-0.7 |
- |
- |
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Total Operating Expense |
383.2 |
421.6 |
340.1 |
281.7 |
306.4 |
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Operating Income |
6.5 |
13.4 |
67.4 |
35.0 |
28.1 |
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Interest Expense -
Non-Operating |
-0.3 |
-0.8 |
-0.6 |
-1.5 |
-1.2 |
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Interest Expense, Net Non-Operating |
-0.3 |
-0.8 |
-0.6 |
-1.5 |
-1.2 |
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Interest Income -
Non-Operating |
4.0 |
3.0 |
2.4 |
1.7 |
1.9 |
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Investment Income -
Non-Operating |
1.5 |
15.9 |
4.3 |
2.1 |
-13.3 |
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Interest/Investment Income - Non-Operating |
5.6 |
18.9 |
6.6 |
3.8 |
-11.4 |
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Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
0.0 |
- |
- |
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Interest Income (Expense) - Net Non-Operating Total |
5.2 |
18.2 |
6.0 |
2.3 |
-12.6 |
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Gain (Loss) on Sale of Assets |
0.4 |
0.1 |
- |
0.2 |
0.2 |
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Other Non-Operating Income (Expense) |
1.7 |
0.8 |
- |
-0.5 |
6.4 |
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Other, Net |
1.7 |
0.8 |
- |
-0.5 |
6.4 |
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Income Before Tax |
13.9 |
32.4 |
73.5 |
36.9 |
22.1 |
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Total Income Tax |
3.0 |
7.4 |
19.9 |
9.9 |
-0.4 |
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Income After Tax |
10.9 |
25.1 |
53.5 |
26.9 |
22.5 |
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Minority Interest |
-1.5 |
-1.9 |
-1.2 |
-1.1 |
-1.3 |
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Net Income Before Extraord Items |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
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Net Income |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
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Income Available to Common Excl Extraord Items |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
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Income Available to Common Incl Extraord Items |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
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Basic/Primary Weighted Average Shares |
2.3 |
2.3 |
2.3 |
2.2 |
2.3 |
|
Basic EPS Excl Extraord Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
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Basic/Primary EPS Incl Extraord Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
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Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
|
Diluted Weighted Average Shares |
2.3 |
2.3 |
2.3 |
2.2 |
2.3 |
|
Diluted EPS Excl Extraord Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
|
Diluted EPS Incl Extraord Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
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Dividends per Share - Common Stock Primary Issue |
0.67 |
0.90 |
2.59 |
1.96 |
1.36 |
|
Gross Dividends - Common Stock |
1.5 |
2.1 |
6.0 |
4.4 |
3.1 |
|
Interest Expense, Supplemental |
0.3 |
0.8 |
0.6 |
1.5 |
1.2 |
|
Depreciation, Supplemental |
10.7 |
10.5 |
10.0 |
11.0 |
13.0 |
|
Total Special Items |
-0.4 |
-0.1 |
-0.3 |
-0.2 |
-0.2 |
|
Normalized Income Before Tax |
13.4 |
32.4 |
73.2 |
36.7 |
21.9 |
|
|
|
|
|
|
|
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Effect of Special Items on Income Taxes |
-0.1 |
0.0 |
-0.1 |
0.0 |
-0.1 |
|
Inc Tax Ex Impact of Sp Items |
2.9 |
7.4 |
19.8 |
9.9 |
-0.5 |
|
Normalized Income After Tax |
10.6 |
25.0 |
53.3 |
26.8 |
22.4 |
|
|
|
|
|
|
|
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Normalized Inc. Avail to Com. |
9.1 |
23.1 |
52.1 |
25.7 |
21.1 |
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Basic Normalized EPS |
3.94 |
9.94 |
22.81 |
11.46 |
9.38 |
|
Diluted Normalized EPS |
3.94 |
9.94 |
22.81 |
11.46 |
9.38 |
|
Amort of Intangibles, Supplemental |
0.6 |
0.4 |
0.6 |
0.7 |
0.7 |
|
Rental Expenses |
8.9 |
8.1 |
7.7 |
5.3 |
5.8 |
|
Advertising Expense, Supplemental |
4.1 |
3.4 |
2.8 |
2.4 |
2.5 |
|
Research & Development Exp, Supplemental |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Normalized EBIT |
-4.6 |
-3.2 |
58.3 |
35.0 |
28.1 |
|
Normalized EBITDA |
6.7 |
7.7 |
68.9 |
46.7 |
41.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
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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Cash & Equivalents |
11.2 |
31.2 |
9.8 |
8.5 |
15.0 |
|
Short Term Investments |
112.5 |
69.4 |
82.6 |
25.0 |
14.8 |
|
Cash and Short Term Investments |
123.7 |
100.6 |
92.4 |
33.5 |
29.8 |
|
Accounts Receivable -
Trade, Gross |
35.5 |
35.0 |
40.8 |
32.9 |
31.9 |
|
Provision for Doubtful
Accounts |
-0.3 |
-0.4 |
-0.2 |
-0.7 |
-0.8 |
|
Trade Accounts Receivable - Net |
37.5 |
36.5 |
41.5 |
32.9 |
32.0 |
|
Other Receivables |
12.2 |
13.3 |
13.4 |
5.3 |
7.6 |
|
Total Receivables, Net |
49.6 |
49.9 |
54.8 |
38.2 |
39.6 |
|
Inventories - Finished Goods |
37.1 |
46.5 |
31.5 |
29.6 |
31.6 |
|
Inventories - Work In Progress |
3.7 |
4.2 |
3.7 |
1.9 |
2.1 |
|
Inventories - Raw Materials |
16.6 |
22.9 |
13.5 |
23.6 |
16.6 |
|
Inventories - Other |
16.9 |
24.1 |
24.1 |
24.4 |
15.8 |
|
Total Inventory |
74.3 |
97.8 |
72.9 |
79.6 |
66.2 |
|
Prepaid Expenses |
0.8 |
3.9 |
0.0 |
4.7 |
3.4 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
0.6 |
3.2 |
|
Other Current Assets |
0.0 |
0.1 |
4.7 |
- |
- |
|
Other Current Assets, Total |
0.0 |
0.1 |
4.7 |
0.6 |
3.2 |
|
Total Current Assets |
248.4 |
252.2 |
224.7 |
156.6 |
142.2 |
|
|
|
|
|
|
|
|
Buildings |
48.0 |
45.7 |
46.3 |
104.9 |
52.6 |
|
Land/Improvements |
102.6 |
98.5 |
100.0 |
120.0 |
110.0 |
|
Machinery/Equipment |
134.4 |
119.4 |
119.5 |
113.8 |
101.1 |
|
Construction in
Progress |
2.5 |
1.0 |
0.8 |
0.2 |
24.4 |
|
Leases |
0.7 |
0.5 |
0.5 |
0.3 |
0.3 |
|
Other
Property/Plant/Equipment |
0.0 |
- |
0.0 |
2.1 |
2.0 |
|
Property/Plant/Equipment - Gross |
288.2 |
265.0 |
267.1 |
341.4 |
290.4 |
|
Accumulated Depreciation |
-136.7 |
-117.5 |
-110.2 |
-113.8 |
-93.4 |
|
Property/Plant/Equipment - Net |
151.5 |
147.5 |
156.9 |
227.5 |
197.0 |
|
Intangibles, Net |
4.0 |
3.1 |
3.0 |
1.2 |
1.6 |
|
LT Investment - Affiliate Companies |
70.1 |
53.8 |
47.7 |
2.2 |
33.5 |
|
LT Investments - Other |
194.6 |
176.4 |
210.0 |
79.2 |
27.0 |
|
Long Term Investments |
264.8 |
230.2 |
257.7 |
81.4 |
60.6 |
|
Note Receivable - Long Term |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
- |
- |
- |
0.1 |
0.1 |
|
Other Long Term Assets |
22.6 |
21.0 |
20.0 |
19.7 |
17.3 |
|
Other Long Term Assets, Total |
22.6 |
21.0 |
20.0 |
19.8 |
17.4 |
|
Total Assets |
691.4 |
654.1 |
662.4 |
486.7 |
418.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
20.2 |
21.1 |
19.7 |
14.3 |
8.0 |
|
Accrued Expenses |
7.8 |
7.3 |
6.6 |
5.7 |
5.1 |
|
Notes Payable/Short Term Debt |
4.4 |
2.6 |
2.2 |
13.9 |
25.1 |
|
Current Portion - Long Term Debt/Capital Leases |
12.5 |
21.6 |
10.9 |
8.3 |
2.3 |
|
Dividends Payable |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Customer Advances |
0.8 |
1.2 |
2.3 |
0.9 |
0.8 |
|
Security Deposits |
1.7 |
1.3 |
1.1 |
0.7 |
0.6 |
|
Income Taxes Payable |
2.4 |
2.9 |
14.5 |
3.6 |
5.6 |
|
Other Payables |
4.4 |
4.0 |
4.8 |
3.2 |
2.8 |
|
Other Current Liabilities |
0.6 |
1.6 |
2.5 |
1.2 |
6.7 |
|
Other Current liabilities, Total |
9.9 |
10.9 |
25.2 |
9.6 |
16.6 |
|
Total Current Liabilities |
54.9 |
63.5 |
64.6 |
51.9 |
57.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
4.0 |
10.3 |
6.5 |
4.4 |
2.5 |
|
Total Long Term Debt |
4.0 |
10.3 |
6.5 |
4.4 |
2.5 |
|
Total Debt |
20.9 |
34.5 |
19.6 |
26.6 |
30.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
43.2 |
42.0 |
47.3 |
23.4 |
15.7 |
|
Deferred Income Tax |
43.2 |
42.0 |
47.3 |
23.4 |
15.7 |
|
Minority Interest |
12.5 |
10.3 |
8.7 |
7.4 |
12.2 |
|
Reserves |
- |
- |
- |
0.1 |
0.1 |
|
Pension Benefits - Underfunded |
1.7 |
1.3 |
1.5 |
1.1 |
1.6 |
|
Other Long Term Liabilities |
13.8 |
13.2 |
11.0 |
10.2 |
5.1 |
|
Other Liabilities, Total |
15.6 |
14.5 |
12.5 |
11.4 |
6.8 |
|
Total Liabilities |
130.1 |
140.6 |
139.6 |
98.5 |
94.4 |
|
|
|
|
|
|
|
|
Common Stock |
11.3 |
10.4 |
10.6 |
10.3 |
9.5 |
|
Common Stock |
11.3 |
10.4 |
10.6 |
10.3 |
9.5 |
|
Additional Paid-In Capital |
10.8 |
10.0 |
10.1 |
167.0 |
150.5 |
|
Retained Earnings (Accumulated Deficit) |
366.3 |
332.1 |
320.6 |
197.2 |
158.8 |
|
Treasury Stock - Common |
-5.3 |
-4.1 |
-2.4 |
-5.5 |
-4.9 |
|
Unrealized Gain (Loss) |
178.3 |
165.1 |
183.9 |
19.1 |
10.4 |
|
Other Equity |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Equity, Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Equity |
561.3 |
513.5 |
522.8 |
388.2 |
324.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
691.4 |
654.1 |
662.4 |
486.7 |
418.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
2.3 |
2.3 |
2.3 |
2.2 |
2.2 |
|
Total Common Shares Outstanding |
2.3 |
2.3 |
2.3 |
2.2 |
2.2 |
|
Treasury Shares - Common Stock Primary Issue |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Employees |
- |
1,096 |
1,067 |
1,034 |
1,038 |
|
Number of Common Shareholders |
- |
- |
1,309 |
627 |
548 |
|
Accumulated Intangible Amort, Suppl. |
2.2 |
1.4 |
1.0 |
2.8 |
1.9 |
|
Deferred Revenue - Current |
0.8 |
1.2 |
2.3 |
0.9 |
0.8 |
|
Total Long Term Debt, Supplemental |
16.5 |
34.5 |
- |
12.7 |
4.9 |
|
Long Term Debt Maturing within 1 Year |
12.5 |
24.2 |
- |
8.3 |
2.3 |
|
Long Term Debt Maturing in Year 2 |
2.0 |
8.7 |
- |
4.2 |
2.3 |
|
Long Term Debt Maturing in Year 3 |
0.5 |
0.4 |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 4 |
0.5 |
0.4 |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
0.5 |
0.4 |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
2.5 |
9.0 |
- |
4.2 |
2.4 |
|
Long Term Debt Maturing in 4-5 Years |
1.0 |
0.7 |
- |
0.0 |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.5 |
0.5 |
- |
0.1 |
0.1 |
|
Total Operating Leases, Supplemental |
- |
- |
- |
0.0 |
0.0 |
|
Operating Lease Payments Due in Year 1 |
- |
- |
- |
0.0 |
0.0 |
|
Operating Lease Payments Due in Year 2 |
- |
- |
- |
0.0 |
0.0 |
|
Operating Lease Payments Due in Year 3 |
- |
- |
- |
0.0 |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
- |
- |
- |
0.0 |
0.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
- |
- |
- |
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 |
10.9 |
25.1 |
53.5 |
26.9 |
22.5 |
|
Depreciation |
10.7 |
10.5 |
10.0 |
11.0 |
13.0 |
|
Depreciation/Depletion |
10.7 |
10.5 |
10.0 |
11.0 |
13.0 |
|
Amortization of Intangibles |
0.6 |
0.4 |
0.6 |
0.7 |
0.7 |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
-6.5 |
|
Amortization |
0.6 |
0.4 |
0.6 |
0.7 |
-5.8 |
|
Deferred Taxes |
- |
- |
- |
5.3 |
-10.6 |
|
Unusual Items |
-4.2 |
-16.3 |
-2.8 |
0.5 |
3.2 |
|
Equity in Net Earnings (Loss) |
-9.3 |
-8.8 |
-6.4 |
-5.7 |
-2.8 |
|
Other Non-Cash Items |
4.2 |
11.3 |
21.1 |
0.9 |
25.4 |
|
Non-Cash Items |
-9.3 |
-13.9 |
11.8 |
-4.2 |
25.8 |
|
Accounts Receivable |
4.4 |
5.2 |
-10.1 |
3.9 |
-8.7 |
|
Inventories |
31.5 |
-23.8 |
4.2 |
-7.5 |
-14.2 |
|
Prepaid Expenses |
- |
- |
- |
-1.1 |
-1.0 |
|
Other Assets |
0.8 |
0.2 |
0.5 |
0.5 |
0.5 |
|
Accounts Payable |
-5.0 |
-1.4 |
9.2 |
5.6 |
-0.8 |
|
Accrued Expenses |
- |
- |
- |
0.3 |
0.1 |
|
Taxes Payable |
- |
- |
- |
-2.3 |
4.2 |
|
Other Liabilities |
-0.6 |
-0.6 |
-1.1 |
2.2 |
-2.8 |
|
Other Operating Cash Flow |
0.7 |
-25.4 |
-2.9 |
1.7 |
0.7 |
|
Changes in Working Capital |
31.8 |
-45.9 |
-0.2 |
3.3 |
-22.1 |
|
Cash from Operating Activities |
44.7 |
-23.8 |
75.8 |
43.0 |
22.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-8.3 |
-3.2 |
-6.7 |
-24.2 |
-18.6 |
|
Purchase/Acquisition of Intangibles |
-0.7 |
-0.6 |
-0.3 |
-0.1 |
0.0 |
|
Capital Expenditures |
-9.0 |
-3.8 |
-7.0 |
-24.4 |
-18.6 |
|
Sale of Fixed Assets |
0.5 |
0.1 |
0.2 |
0.0 |
0.3 |
|
Sale/Maturity of Investment |
94.6 |
42.2 |
-56.1 |
14.5 |
189.1 |
|
Purchase of Investments |
-134.7 |
0.1 |
-3.7 |
-31.0 |
-199.1 |
|
Sale of Intangible Assets |
- |
0.1 |
0.4 |
0.3 |
- |
|
Other Investing Cash Flow |
- |
-0.1 |
- |
-0.7 |
5.3 |
|
Other Investing Cash Flow Items, Total |
-39.7 |
42.4 |
-59.1 |
-17.0 |
-4.4 |
|
Cash from Investing Activities |
-48.7 |
38.6 |
-66.1 |
-41.3 |
-23.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
-4.1 |
0.9 |
|
Financing Cash Flow Items |
- |
- |
- |
-4.1 |
0.9 |
|
Cash Dividends Paid - Common |
-2.2 |
-6.4 |
-5.0 |
-2.8 |
-2.7 |
|
Total Cash Dividends Paid |
-2.2 |
-6.4 |
-5.0 |
-2.8 |
-2.7 |
|
Repurchase/Retirement
of Common |
-0.9 |
-1.7 |
5.2 |
-1.8 |
-0.3 |
|
Common Stock, Net |
-0.9 |
-1.7 |
5.2 |
-1.8 |
-0.3 |
|
Issuance (Retirement) of Stock, Net |
-0.9 |
-1.7 |
5.2 |
-1.8 |
-0.3 |
|
Short Term Debt Issued |
17.1 |
11.7 |
-11.0 |
27.2 |
26.9 |
|
Short Term Debt
Reduction |
-39.9 |
- |
- |
-39.1 |
-25.6 |
|
Short Term Debt, Net |
-22.7 |
11.7 |
-11.0 |
-11.9 |
1.3 |
|
Long Term Debt Issued |
8.4 |
4.0 |
2.0 |
11.8 |
5.8 |
|
Long Term Debt, Net |
8.4 |
4.0 |
2.0 |
11.8 |
5.8 |
|
Issuance (Retirement) of Debt, Net |
-14.3 |
15.7 |
-9.0 |
-0.1 |
7.1 |
|
Cash from Financing Activities |
-17.4 |
7.6 |
-8.8 |
-8.7 |
5.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Change in Cash |
-21.3 |
22.4 |
0.9 |
-7.1 |
4.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
31.9 |
10.0 |
8.7 |
14.8 |
12.3 |
|
Net Cash - Ending Balance |
10.6 |
32.4 |
9.6 |
7.7 |
17.2 |
|
Cash Interest Paid |
0.4 |
0.7 |
0.7 |
- |
- |
|
Cash Taxes Paid |
2.3 |
27.2 |
4.8 |
- |
- |
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Goods Revenues |
205.6 |
243.5 |
205.2 |
164.9 |
166.6 |
|
Merchandise Sales |
163.8 |
136.7 |
161.1 |
117.7 |
137.5 |
|
By-Products Revenue |
7.7 |
12.3 |
6.4 |
- |
- |
|
Rental Revenue |
12.7 |
12.4 |
10.7 |
- |
- |
|
Special Revenues |
- |
29.7 |
23.7 |
19.3 |
20.4 |
|
Other Revenue |
0.0 |
0.5 |
0.4 |
6.6 |
5.0 |
|
Income From Fincl Services |
- |
- |
- |
8.3 |
4.9 |
|
Adjustmnent for Sales Revenue |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Revenue |
389.7 |
435.0 |
407.6 |
316.7 |
334.5 |
|
|
|
|
|
|
|
|
Cost Manufacturing |
- |
- |
- |
145.1 |
145.8 |
|
Merchandise Cost |
- |
- |
- |
90.0 |
104.2 |
|
Cost of Other Sales |
- |
- |
- |
3.3 |
0.2 |
|
Cost of Finan. Serv. |
- |
- |
- |
0.6 |
3.5 |
|
Costs of Goods & Services Sold |
332.3 |
380.5 |
296.5 |
- |
- |
|
Salaries & Wages |
14.0 |
13.8 |
13.9 |
10.3 |
11.1 |
|
Retirement & Severance Benefits |
1.0 |
1.1 |
0.9 |
0.9 |
1.0 |
|
Employee Benefits |
1.2 |
1.5 |
1.1 |
1.2 |
1.3 |
|
Travel Expense |
- |
- |
- |
0.5 |
0.5 |
|
Communication Exp. |
- |
- |
- |
0.2 |
0.2 |
|
Utility Expense |
- |
- |
- |
0.0 |
0.3 |
|
Taxes & Dues |
0.6 |
0.6 |
0.5 |
0.4 |
0.8 |
|
Insurance Expenses |
- |
- |
- |
0.2 |
0.2 |
|
Repair Expense |
- |
- |
- |
0.2 |
0.2 |
|
Provision for Mileage Reseve |
- |
- |
- |
0.0 |
0.0 |
|
Expenses for Samples |
- |
- |
- |
0.4 |
0.4 |
|
Shipping & Handling Expense |
4.0 |
3.7 |
4.0 |
1.6 |
1.8 |
|
Vehicles Maintenance Expense |
- |
- |
- |
0.3 |
0.3 |
|
Commission Paid |
2.5 |
2.9 |
2.7 |
1.2 |
2.1 |
|
Sales Commissions |
16.3 |
14.1 |
11.8 |
10.4 |
11.5 |
|
Service Expense |
- |
- |
- |
0.1 |
0.1 |
|
Storage Expense |
- |
- |
- |
0.2 |
0.2 |
|
Publishing & Printing Expense |
- |
- |
- |
0.1 |
0.1 |
|
Packaging Expense |
- |
- |
- |
0.5 |
0.7 |
|
Consumable Expense |
- |
- |
- |
0.4 |
0.5 |
|
Education & Training Expense |
- |
- |
- |
0.3 |
0.3 |
|
Overseas Market Development Expense |
- |
- |
- |
0.1 |
0.3 |
|
Expense of Allow. for DA |
0.6 |
0.3 |
0.0 |
0.4 |
3.1 |
|
Entertainment Expense |
0.4 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Conference Expense |
- |
- |
- |
0.0 |
0.1 |
|
Other Exporting Expense |
0.2 |
0.3 |
0.3 |
1.8 |
2.7 |
|
Building Maintenance Expense |
- |
- |
- |
0.4 |
0.5 |
|
Card Fee |
- |
- |
- |
0.5 |
0.5 |
|
Other Selling & Administrative Expense |
4.8 |
4.5 |
4.3 |
0.0 |
0.0 |
|
Advertising Expense |
2.7 |
2.1 |
1.4 |
1.2 |
1.5 |
|
Sales Promotional Expense |
1.4 |
1.3 |
1.3 |
1.1 |
1.0 |
|
Development Costs |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Rental Expense |
8.9 |
8.1 |
7.7 |
5.3 |
5.8 |
|
Depreciation |
2.1 |
1.9 |
1.7 |
1.3 |
2.3 |
|
Amort. of Intangibless |
0.6 |
0.4 |
0.6 |
0.7 |
0.7 |
|
Adj. for Other Selling & Admin. Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Financial Investment Income |
-2.7 |
-8.4 |
-2.4 |
- |
- |
|
Financial Affiliates Income/Expense |
0.0 |
0.0 |
0.1 |
- |
- |
|
Financial Joint Venture Income/Expense |
-9.3 |
-8.9 |
-6.5 |
- |
- |
|
Financial Operating Espense |
0.9 |
0.6 |
0.1 |
- |
- |
|
Packaging Expense(1) |
0.8 |
0.7 |
0.7 |
- |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-3.4 |
- |
- |
|
Gain on Foreign Currency Translation |
- |
- |
0.0 |
- |
- |
|
Gain on Disposal of PPE |
- |
- |
-0.1 |
- |
- |
|
Gain on Disposal of Intangibless |
- |
- |
-0.2 |
- |
- |
|
Recovery of Bad Debt Expesne |
- |
- |
-0.5 |
- |
- |
|
Miscellaneous Income |
- |
- |
-0.6 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
3.2 |
- |
- |
|
Loss on Foreign Currency Translation |
- |
- |
0.0 |
- |
- |
|
Loss on Disposal of PPE |
- |
- |
0.0 |
- |
- |
|
Donations Paid |
- |
- |
0.1 |
- |
- |
|
Loss on Prior Period Adj. |
- |
- |
0.0 |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.3 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
383.2 |
421.6 |
340.1 |
281.7 |
306.4 |
|
|
|
|
|
|
|
|
Interest Income |
4.0 |
3.0 |
2.4 |
1.7 |
1.9 |
|
Dividend Income |
0.2 |
0.6 |
0.5 |
0.3 |
0.5 |
|
Gain on Foreign Currency Transaction |
1.4 |
2.0 |
0.3 |
4.2 |
7.8 |
|
Gain on Foreign Currency Transaction-Fin |
0.6 |
0.5 |
- |
- |
- |
|
Gain on Foreign Currency Translation |
0.2 |
0.1 |
0.4 |
1.4 |
0.9 |
|
Gain on Foreign Currency Translation-Fin |
1.1 |
- |
- |
- |
- |
|
Gain on Valt of Derivatives |
- |
0.2 |
0.5 |
0.6 |
- |
|
Gain on Derivatives Transaction |
0.1 |
0.2 |
0.2 |
0.5 |
0.2 |
|
Gain-Valuation of ST Investment Assets |
- |
- |
- |
0.0 |
- |
|
Gain on Disposal of Invmt Assets |
- |
0.0 |
- |
- |
- |
|
Gain on Disposal of Current Trading Sec. |
- |
0.0 |
- |
- |
- |
|
Gain on Valt of Current Trading Sec. |
0.2 |
- |
0.2 |
- |
- |
|
Gain-Disposal of Sec. Avail. for Sale |
- |
16.8 |
2.4 |
- |
- |
|
Gain on Disposal of PPE |
0.4 |
0.1 |
- |
0.0 |
0.3 |
|
Gain-Disposal of Other Intangible Assets |
- |
- |
- |
0.1 |
- |
|
Rental Income |
- |
- |
- |
- |
0.1 |
|
Commission Income |
0.3 |
0.4 |
- |
- |
0.0 |
|
Recovery-Negative Goodwill Amortization |
- |
- |
- |
- |
6.5 |
|
Miscellaneous Income |
1.7 |
0.7 |
- |
0.4 |
0.3 |
|
Other Non-Operating Income |
- |
0.0 |
- |
- |
- |
|
Interest Expense |
-0.3 |
-0.8 |
-0.6 |
-1.5 |
-1.2 |
|
Loss on Foreign Currency Transaction |
-1.9 |
-2.6 |
-0.1 |
-4.9 |
-1.9 |
|
Loss on Foreign Currency Transaction-Fin |
-0.1 |
-0.5 |
- |
- |
- |
|
Loss on Foreign Currency Translation |
-0.1 |
0.0 |
- |
0.0 |
-7.7 |
|
Loss on Foreign Currency Translation-Fin |
- |
-1.4 |
- |
- |
- |
|
Loss-Derivatives Transaction |
- |
- |
- |
-1.0 |
-4.4 |
|
Loss on Valt of Derivatives |
-0.1 |
- |
- |
- |
-8.7 |
|
Loss on Inventory Obsolescence |
0.0 |
- |
- |
-0.1 |
- |
|
Loss-Disp. of Investment Assets |
- |
- |
- |
-0.1 |
- |
|
Loss on Valt of Current Trading Sec. |
0.0 |
0.0 |
- |
- |
- |
|
Loss on Disposal of PPE |
0.0 |
- |
- |
- |
0.0 |
|
Loss on Scrap of PPE |
- |
0.0 |
- |
- |
- |
|
Impmt Loss on Intangibless |
0.0 |
- |
- |
- |
- |
|
Donations Paid |
-0.1 |
-0.2 |
- |
-0.1 |
-0.1 |
|
Miscellaneous Loss |
-0.2 |
-0.1 |
- |
-0.9 |
-0.5 |
|
Gain on Disposal of Investment in Affila |
- |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Finance Income |
- |
0.0 |
- |
- |
- |
|
Adj. for Finance Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Gain under Equity Method |
- |
- |
- |
1.4 |
- |
|
Loss under Equity Method |
- |
- |
- |
-0.4 |
- |
|
Net Income Before Taxes |
13.9 |
32.4 |
73.5 |
36.9 |
22.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
3.0 |
7.4 |
19.9 |
9.9 |
-0.4 |
|
Net Income After Taxes |
10.9 |
25.1 |
53.5 |
26.9 |
22.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-1.5 |
-1.9 |
-1.2 |
-1.1 |
-1.3 |
|
Net Income Before Extra. Items |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
|
Net Income |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
2.3 |
2.3 |
2.3 |
2.2 |
2.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
|
Basic EPS Including ExtraOrdinary Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
9.4 |
23.2 |
52.3 |
25.9 |
21.3 |
|
Diluted Weighted Average Shares |
2.3 |
2.3 |
2.3 |
2.2 |
2.3 |
|
Diluted EPS Excluding ExtraOrd Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
|
Diluted EPS Including ExtraOrd Items |
4.08 |
9.97 |
22.90 |
11.51 |
9.44 |
|
DPS-Ordinary Shares |
0.67 |
0.90 |
2.59 |
1.96 |
1.36 |
|
Gross Dividends - Common Stock |
1.5 |
2.1 |
6.0 |
4.4 |
3.1 |
|
Normalized Income Before Taxes |
13.4 |
32.4 |
73.2 |
36.7 |
21.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2.9 |
7.4 |
19.8 |
9.9 |
-0.5 |
|
Normalized Income After Taxes |
10.6 |
25.0 |
53.3 |
26.8 |
22.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
9.1 |
23.1 |
52.1 |
25.7 |
21.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.94 |
9.94 |
22.81 |
11.46 |
9.38 |
|
Diluted Normalized EPS |
3.94 |
9.94 |
22.81 |
11.46 |
9.38 |
|
Interest Expense, Supplemental |
0.3 |
0.8 |
0.6 |
1.5 |
1.2 |
|
Rental Expense, Supplemental |
8.9 |
8.1 |
7.7 |
5.3 |
5.8 |
|
Advertising Expense, Supplemental |
4.1 |
3.4 |
2.8 |
2.4 |
2.5 |
|
R&D Expense, Supplemental |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
10.7 |
10.5 |
10.0 |
11.0 |
13.0 |
|
Amort of Intangibles, Supplemental |
0.6 |
0.4 |
0.6 |
0.7 |
0.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
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 |
11.2 |
31.2 |
9.8 |
8.5 |
15.0 |
|
ST Invmt Assets |
- |
- |
- |
6.9 |
4.5 |
|
Current Fincl Instrm |
96.5 |
61.6 |
64.8 |
18.1 |
10.3 |
|
Current Trading Securities |
16.1 |
7.8 |
17.8 |
- |
- |
|
Current Securities Held-to-Maturities |
- |
- |
0.0 |
- |
- |
|
Adj. for Current Fincl Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Trade Receivable, Gross |
35.5 |
35.0 |
40.8 |
32.9 |
31.9 |
|
Allow. for DA for Trade Receivable |
-0.3 |
-0.4 |
-0.2 |
-0.7 |
-0.8 |
|
Current Loans |
1.0 |
0.7 |
0.7 |
0.7 |
0.6 |
|
Account Receivable |
11.2 |
12.6 |
13.7 |
4.6 |
7.0 |
|
Allow. for DA for Account Receivable |
- |
- |
-1.0 |
- |
- |
|
Adj. for Trade & Other Receivable |
0.0 |
- |
0.0 |
- |
- |
|
Accrued Income |
2.3 |
1.9 |
0.9 |
0.7 |
0.9 |
|
Advance Payments |
1.1 |
3.1 |
- |
6.0 |
6.4 |
|
Prepaid Expenses |
0.4 |
0.4 |
- |
0.6 |
0.2 |
|
Current Tax Assets |
0.3 |
3.4 |
0.0 |
- |
- |
|
Prepaid VAT |
- |
- |
- |
4.0 |
3.2 |
|
Current Derivative Assets |
- |
0.1 |
- |
- |
- |
|
Other Current Assets |
- |
- |
4.7 |
- |
- |
|
Adj. for Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Deferred Income Tax, Current Assets |
- |
- |
- |
0.6 |
3.2 |
|
Finished Goods |
13.9 |
14.7 |
9.4 |
6.1 |
11.9 |
|
Works in Process |
3.7 |
4.2 |
3.7 |
1.9 |
2.1 |
|
Merchandises |
23.2 |
31.9 |
22.1 |
23.6 |
19.7 |
|
Raw Materials |
16.2 |
22.7 |
13.3 |
23.4 |
16.4 |
|
Supplemental Raw Materials |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Consumable Goods |
0.5 |
1.2 |
0.7 |
0.8 |
2.4 |
|
Goods in Transit |
15.3 |
19.8 |
23.4 |
17.6 |
7.1 |
|
Adj. for Inventories |
0.0 |
- |
0.0 |
- |
- |
|
Total Current Assets |
248.4 |
252.2 |
224.7 |
156.6 |
142.2 |
|
|
|
|
|
|
|
|
LT Finl Assets |
- |
- |
- |
0.0 |
0.0 |
|
Invmt in Properties |
172.6 |
157.4 |
162.5 |
36.4 |
23.1 |
|
Contract-Based Invmt |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Allowance for Doubtful Accounts for Cont |
-0.1 |
-0.1 |
-0.1 |
- |
- |
|
Non-Current Securities Available-for-Sal |
21.9 |
18.9 |
46.9 |
- |
3.1 |
|
Investment Assets for Incorporation |
- |
- |
- |
42.8 |
- |
|
Invmt for Projects |
0.0 |
- |
1.4 |
- |
0.6 |
|
Allowance for Doubtful Accounts for Inve |
- |
- |
-1.0 |
- |
- |
|
Overseas Invmt |
0.1 |
0.1 |
0.2 |
- |
0.2 |
|
Invmt in Affiliates |
5.3 |
3.0 |
2.7 |
2.2 |
1.0 |
|
Invmt in Joint Ventures |
64.9 |
50.8 |
44.9 |
- |
- |
|
Other Financial-Affilaite Stock |
- |
- |
- |
- |
32.5 |
|
Non-Current Rental Guarantee Deposits |
22.6 |
21.0 |
19.9 |
19.7 |
17.3 |
|
Other Non-Current Guarantee Deposits |
0.0 |
0.0 |
- |
- |
- |
|
Guarantee Deposits for Quick Assets |
0.0 |
0.0 |
0.1 |
- |
- |
|
Adj. for Other Non-Current Assets |
- |
0.0 |
- |
- |
- |
|
Deferred Income Tax, Debit |
- |
- |
- |
0.1 |
0.1 |
|
Non-Current Loans |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Lands |
102.6 |
98.5 |
100.0 |
120.2 |
110.2 |
|
Land-Government Subsidy |
- |
- |
- |
-0.2 |
-0.2 |
|
Buildings |
45.2 |
43.0 |
43.6 |
101.7 |
50.4 |
|
Buildings-Depreciation |
-25.1 |
-21.7 |
-20.1 |
-24.3 |
-18.9 |
|
Buildings-Government Subsidy |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
|
Structures |
3.1 |
2.8 |
2.9 |
3.5 |
2.4 |
|
Structures-Depreciation |
-1.4 |
-1.1 |
-0.9 |
-1.1 |
-0.7 |
|
Machineries & Equipments |
104.9 |
94.8 |
96.0 |
91.5 |
83.2 |
|
Machineries & Equipments-Depreciation |
-87.7 |
-75.4 |
-70.7 |
-71.7 |
-59.9 |
|
Machineries & Equipments-Govern. Subsidy |
-0.1 |
-0.2 |
-0.3 |
-0.3 |
-0.4 |
|
Vehicles |
1.3 |
1.2 |
1.2 |
1.0 |
0.9 |
|
Vehicles-Depreciation |
-1.0 |
-0.8 |
-0.6 |
-0.8 |
-0.8 |
|
Tools & Equipments |
28.2 |
23.5 |
22.5 |
21.6 |
17.4 |
|
Tools & Equipments-Depreciation |
-21.1 |
-18.1 |
-17.4 |
-15.5 |
-12.8 |
|
Fixed Assets under Joint Management |
- |
- |
- |
2.1 |
2.0 |
|
Joint Manage. Fixed Assets-Depreciation |
- |
- |
- |
-0.1 |
-0.1 |
|
Leased Fixed Assets |
0.7 |
0.5 |
0.5 |
0.3 |
0.3 |
|
Leased Fixed Assets-Depreciation |
-0.4 |
-0.5 |
-0.5 |
-0.3 |
-0.3 |
|
Construction in Progress |
2.5 |
1.0 |
0.8 |
0.2 |
24.4 |
|
Adj. for Property, Plant & Equipment |
0.0 |
- |
0.0 |
- |
- |
|
Government Subsidy for Intangible Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Industrial Property Rights |
1.1 |
0.1 |
0.2 |
0.0 |
0.0 |
|
Development Costs |
0.0 |
0.0 |
0.1 |
- |
- |
|
Lease Rights |
0.9 |
0.7 |
0.4 |
1.0 |
1.3 |
|
Membership Rights |
1.9 |
2.2 |
2.3 |
- |
- |
|
Water Usage Rights |
0.1 |
0.1 |
0.1 |
- |
- |
|
Other Intangible |
- |
- |
- |
0.3 |
0.2 |
|
Adj. for Intangibless |
0.0 |
- |
- |
- |
- |
|
Total Assets |
691.4 |
654.1 |
662.4 |
486.7 |
418.8 |
|
|
|
|
|
|
|
|
Trade Payable |
20.2 |
21.1 |
19.7 |
14.3 |
8.0 |
|
Other Payable |
4.4 |
4.0 |
4.8 |
3.2 |
2.8 |
|
Adj. for Trade & Other Payable |
0.0 |
- |
0.0 |
- |
- |
|
Derivatives in Liabilities, Current |
- |
- |
- |
- |
6.0 |
|
Current Borrowings |
4.4 |
2.6 |
2.2 |
13.9 |
25.1 |
|
Current Portion of Long-Term Borrowings |
12.5 |
21.6 |
10.9 |
8.3 |
2.3 |
|
Adj. for Current Borrowings |
- |
- |
0.0 |
- |
- |
|
Accrued Expense |
6.8 |
7.3 |
6.6 |
5.4 |
4.7 |
|
Current Tax Liabilities |
2.4 |
2.9 |
14.5 |
3.6 |
5.6 |
|
Dividend Payable |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advance from Customers |
0.4 |
0.7 |
1.8 |
0.6 |
0.8 |
|
Unearned Income |
0.5 |
0.4 |
0.5 |
0.3 |
- |
|
Withheld |
0.6 |
1.6 |
2.5 |
1.2 |
0.8 |
|
Guarantee Deposit Withheld |
1.7 |
1.3 |
1.1 |
0.7 |
0.6 |
|
Value Added Taxes Withheld |
1.0 |
- |
- |
0.3 |
0.5 |
|
Total Current Liabilities |
54.9 |
63.5 |
64.6 |
51.9 |
57.2 |
|
|
|
|
|
|
|
|
Non-Current Borrowings |
4.0 |
10.3 |
6.5 |
4.4 |
2.5 |
|
Total Long Term Debt |
4.0 |
10.3 |
6.5 |
4.4 |
2.5 |
|
|
|
|
|
|
|
|
Non-Current Derivative Liabilities |
- |
- |
0.1 |
0.6 |
1.2 |
|
Rental Secur Dep |
- |
- |
- |
9.7 |
3.9 |
|
Other Non-Current Liabilities |
13.8 |
13.2 |
10.9 |
- |
- |
|
Reserves for Credit Points |
- |
- |
- |
0.1 |
0.1 |
|
Deferred Income Taxes, LT Liabilities |
43.2 |
42.0 |
47.3 |
23.4 |
15.7 |
|
Retirement & Severance Benefits, Non-Cur |
1.7 |
1.3 |
1.5 |
4.8 |
1.6 |
|
Deposit-Retirement Insurance |
- |
- |
- |
-3.7 |
- |
|
Transfer to National Pension Fund |
- |
- |
- |
0.0 |
- |
|
Minority Interests |
12.5 |
10.3 |
8.7 |
7.4 |
12.2 |
|
Total Liabilities |
130.1 |
140.6 |
139.6 |
98.5 |
94.4 |
|
|
|
|
|
|
|
|
Capital Stock |
11.3 |
10.4 |
10.6 |
10.3 |
9.5 |
|
Additional Paid in Capital |
1.6 |
1.5 |
1.5 |
1.5 |
1.4 |
|
Other Capital Surplus |
9.1 |
8.5 |
8.6 |
165.5 |
149.1 |
|
Adj. for Capital Surplus |
0.0 |
0.0 |
- |
- |
- |
|
Voluntary Reserve |
243.0 |
234.0 |
191.2 |
156.2 |
134.5 |
|
Legal Reserve |
5.6 |
5.2 |
5.3 |
11.0 |
4.8 |
|
Retained Earning Carried Forward |
117.7 |
92.9 |
124.1 |
30.0 |
19.5 |
|
Adj. for Retained Earnings |
0.0 |
0.0 |
0.0 |
- |
- |
|
ReValt Surplus |
173.8 |
160.9 |
163.3 |
- |
- |
|
Unreal Stk Gain |
- |
- |
- |
19.5 |
10.6 |
|
Gain on Valuation of Securities Availabl |
5.3 |
4.9 |
21.4 |
- |
- |
|
Loss on Valuation of Securities Availabl |
-0.4 |
-0.3 |
-0.4 |
- |
- |
|
Capital Change, Equity Method (Loss) |
-0.5 |
-0.4 |
-0.4 |
-0.4 |
-0.2 |
|
Capital Change, Equity Method |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Adj. for Other Capital Items |
0.0 |
0.0 |
0.0 |
- |
- |
|
Treasury Stock |
-5.3 |
-4.1 |
-2.4 |
-5.5 |
-4.9 |
|
Total Equity |
561.3 |
513.5 |
522.8 |
388.2 |
324.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
691.4 |
654.1 |
662.4 |
486.7 |
418.8 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
2.3 |
2.3 |
2.3 |
2.2 |
2.2 |
|
Total Common Shares Outstanding |
2.3 |
2.3 |
2.3 |
2.2 |
2.2 |
|
T/S-Ordinary Shares |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Deferred Revenue, Current |
0.8 |
1.2 |
2.3 |
0.9 |
0.8 |
|
Accumulated Intangible Amorti., Suppl |
2.2 |
1.4 |
1.0 |
2.8 |
1.9 |
|
Full-Time Employees |
- |
1,096 |
1,067 |
1,034 |
1,038 |
|
Number of Common Shareholders |
- |
- |
1,309 |
627 |
548 |
|
LT Debt Maturing within 1 Year |
12.5 |
24.2 |
- |
8.3 |
2.3 |
|
LT Debt Maturing within 2 Years |
2.0 |
8.7 |
- |
4.2 |
2.3 |
|
LT Debt Maturing within 3 Years |
- |
- |
- |
0.0 |
0.0 |
|
LT Debt Maturing within 4 Years |
- |
- |
- |
0.0 |
0.0 |
|
LT Debt Maturing within 5 Years |
1.5 |
1.1 |
- |
0.0 |
0.0 |
|
LT Debt Remaining Maturities |
0.5 |
0.5 |
- |
0.1 |
0.1 |
|
Total Long Term Debt, Supplemental |
16.5 |
34.5 |
- |
12.7 |
4.9 |
|
Operating Lease, 1 Year |
- |
- |
- |
0.0 |
0.0 |
|
Operating Lease, 1 Year |
- |
- |
- |
0.0 |
0.0 |
|
Operating Lease, 3 Years |
- |
- |
- |
0.0 |
- |
|
Total Operating 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 |
10.9 |
25.1 |
53.5 |
26.9 |
22.5 |
|
Depreciation |
10.7 |
10.5 |
10.0 |
11.0 |
13.0 |
|
Amort. of Intangibless |
0.6 |
0.4 |
0.6 |
0.7 |
0.7 |
|
Depreciation of Real Estate |
2.8 |
2.8 |
2.5 |
- |
- |
|
Expense of Allow. for DA |
0.6 |
0.3 |
- |
0.4 |
3.1 |
|
Retirement and Severance Benefits |
2.7 |
2.7 |
2.4 |
2.2 |
2.5 |
|
Losses on Foreign Currency Translation |
0.1 |
1.4 |
0.0 |
0.0 |
7.7 |
|
Provision for Credit Points |
- |
- |
- |
0.0 |
0.0 |
|
Loss on Disposal of Property, Plant and |
- |
- |
0.0 |
- |
0.0 |
|
Loss on Scrap of Tangibles |
- |
0.0 |
- |
- |
- |
|
Impmt Loss on Intangibless |
0.0 |
- |
- |
- |
- |
|
Loss on Sale of Tangibles |
0.0 |
- |
- |
0.1 |
- |
|
Loss-Disposal of Other Investment Assets |
- |
- |
- |
0.1 |
- |
|
Corporate Taxes Expense |
3.0 |
7.4 |
19.9 |
- |
- |
|
Interest Expenses |
0.3 |
0.8 |
0.6 |
- |
- |
|
Other Non-Cash Items |
-0.1 |
- |
- |
0.0 |
0.0 |
|
Rental Expense |
0.8 |
- |
- |
- |
- |
|
Loss on Valt of Current Trading Sec. |
0.0 |
0.0 |
- |
- |
- |
|
Loss-Derivatives Transaction |
- |
- |
- |
1.0 |
4.4 |
|
Loss on Valt of Derivative Fincl Assets |
0.1 |
- |
- |
- |
8.7 |
|
Impmt Loss on Sec. Available-for-Sale |
- |
0.1 |
- |
0.5 |
3.3 |
|
Loss on Sale of Invmt in Affiliates |
0.0 |
- |
- |
0.1 |
0.1 |
|
Loss on Joint Dividend |
0.3 |
0.5 |
0.0 |
- |
- |
|
Loss on Depletion of Inventory |
0.1 |
- |
- |
- |
- |
|
Losses on Valt of Inventories |
-4.0 |
- |
- |
- |
- |
|
Rec. of Impmt Loss-Sec. Avail.-for-Sale |
- |
0.0 |
- |
- |
- |
|
Loss under Equity Method |
0.0 |
- |
- |
0.4 |
- |
|
Financial Business-Loss under Equity Me |
- |
0.0 |
0.1 |
- |
- |
|
Gain on Investment in Joint Venture |
-9.4 |
-8.9 |
-6.5 |
-6.1 |
-2.8 |
|
Recovery-Negative Goodwill Amortization |
- |
- |
- |
- |
-6.5 |
|
Rec. of Allow. for DA |
- |
- |
-0.5 |
- |
- |
|
Gains on Foreign Currency Translation |
-1.2 |
-0.1 |
-0.4 |
-1.4 |
-0.9 |
|
Interest Income |
-4.4 |
-3.0 |
-2.4 |
- |
- |
|
Dividend Income |
-0.2 |
-0.6 |
-0.5 |
- |
- |
|
Miscellaneous Gain |
- |
- |
- |
-0.1 |
- |
|
Gain on Derivatives Transaction |
-0.1 |
-0.2 |
-0.2 |
-0.5 |
-0.2 |
|
Gains on Valts of Derivatives Assets |
- |
-0.2 |
-0.5 |
-0.6 |
- |
|
Gain on Valt of Current Trading Sec. |
-0.2 |
- |
-0.2 |
0.0 |
- |
|
Gain on Disposal of Investment Assets |
- |
0.0 |
- |
- |
- |
|
G-Disp LT Investment Secs |
- |
-16.8 |
-2.4 |
- |
- |
|
Gain on Disposal of Property, Plant and |
-0.4 |
-0.1 |
-0.1 |
0.0 |
-0.3 |
|
Gain-Disposal of Other Intangible Assets |
- |
- |
-0.2 |
-0.1 |
- |
|
Gain on Disposal of Equity Method Securi |
- |
0.0 |
- |
- |
- |
|
Gain on Disposal of Current Trading Secu |
- |
0.0 |
- |
- |
- |
|
Trade & Other Receviables |
4.4 |
- |
- |
- |
- |
|
Trade Receivables |
- |
5.3 |
-6.3 |
1.2 |
-9.4 |
|
Other Receivables |
- |
-0.2 |
-3.8 |
2.4 |
0.6 |
|
Inventory |
31.5 |
-23.8 |
4.2 |
-8.2 |
-10.8 |
|
Accrued Income |
- |
- |
- |
0.2 |
0.1 |
|
Advanced Payment |
- |
- |
- |
0.7 |
-3.4 |
|
Prepaid Expenses |
- |
- |
- |
-0.3 |
0.0 |
|
Corporate Tax Refundable |
- |
- |
- |
- |
0.0 |
|
Prepaid Value Added Taxes |
- |
- |
- |
-0.7 |
-1.0 |
|
Project Investment |
- |
- |
- |
0.2 |
- |
|
Other Current Assets |
0.6 |
1.1 |
2.1 |
- |
- |
|
Other Non-Current Assets |
0.1 |
-0.9 |
-1.6 |
- |
- |
|
Distribution From Association |
- |
- |
- |
0.3 |
0.5 |
|
Overseas Invmt |
- |
- |
- |
0.0 |
0.0 |
|
Trade & Other Payable |
-5.0 |
- |
- |
- |
- |
|
Trade Payable |
- |
0.4 |
4.7 |
5.5 |
-0.6 |
|
Other Payable |
- |
-1.8 |
4.5 |
0.1 |
-0.2 |
|
Accrued Expense |
- |
- |
- |
0.3 |
0.1 |
|
Accrued Income Taxes |
- |
- |
- |
-2.3 |
4.2 |
|
Deferred Income Tax Debit, Current |
- |
- |
- |
2.6 |
-0.4 |
|
Deferred Income Tax Debit |
- |
- |
- |
0.0 |
0.0 |
|
Deferred Income Tax Credit, A/L |
- |
- |
- |
2.8 |
-10.1 |
|
Advances Received |
- |
- |
- |
-0.3 |
0.8 |
|
Deposits Withheld |
- |
- |
- |
0.4 |
0.5 |
|
Unearned Income |
- |
- |
- |
0.3 |
- |
|
Lease Guarantee Deposits |
- |
- |
- |
4.7 |
-1.7 |
|
Other Non-Current Liabilities |
1.7 |
2.5 |
1.0 |
- |
- |
|
Payment for Retirement Allow. |
-2.2 |
-1.8 |
-2.1 |
-2.0 |
-2.2 |
|
Plan Assets |
- |
-1.4 |
0.0 |
- |
- |
|
Retirement Insurance Deposits |
- |
- |
- |
-0.9 |
-0.2 |
|
Cash-Dividend Income |
0.2 |
0.6 |
0.5 |
1.7 |
0.7 |
|
Cash-Interest Received |
3.2 |
2.0 |
2.1 |
- |
- |
|
Cash-Interest Paid |
-0.4 |
-0.7 |
-0.7 |
- |
- |
|
Cash-Tax Paid |
-2.3 |
-27.2 |
-4.8 |
- |
- |
|
Cash from Operating Activities |
44.7 |
-23.8 |
75.8 |
43.0 |
22.9 |
|
|
|
|
|
|
|
|
Disposal of Current Securities Available |
- |
- |
3.0 |
1.5 |
3.5 |
|
Disposal of Securities Available-for-Sal |
0.9 |
28.3 |
-3.5 |
- |
- |
|
Disposal of Current Financial Assets |
93.6 |
11.9 |
-56.8 |
12.5 |
184.3 |
|
Decrease-LT Financial Assets |
- |
- |
- |
- |
0.0 |
|
Disposal of Other Financial Instruments |
0.0 |
0.1 |
0.0 |
- |
- |
|
Sale of Derivatie Liabilities |
0.1 |
0.2 |
0.2 |
- |
0.0 |
|
Disposal of Investment Properties |
- |
0.1 |
0.0 |
0.2 |
1.2 |
|
Disposal of Investment in Joint Venture |
- |
1.6 |
0.9 |
0.2 |
- |
|
Dec in ST Loans |
- |
- |
- |
0.1 |
5.9 |
|
Decrease-LT Loans |
- |
- |
- |
- |
0.0 |
|
Dec-Guarantee Dep |
- |
- |
- |
0.5 |
0.4 |
|
Disposal of Property, Plant and Equipmen |
0.5 |
0.1 |
0.2 |
- |
- |
|
Disp-Land |
- |
- |
- |
- |
0.0 |
|
Disposal Mach./Equip |
- |
- |
- |
0.0 |
0.2 |
|
Disposal Trans Equip |
- |
- |
- |
0.0 |
0.0 |
|
Disp-Building |
- |
- |
- |
- |
0.0 |
|
Disp Tools/Supplies |
- |
- |
- |
0.0 |
0.0 |
|
Dec-Intellectual Proprietary Right |
- |
- |
- |
0.3 |
- |
|
Disposal of Intangible Assets |
- |
0.1 |
0.4 |
- |
- |
|
Increase-Marketable Securities |
- |
- |
- |
-3.5 |
- |
|
Purchase of Current Fincl Assets |
-128.9 |
- |
- |
-18.9 |
-193.8 |
|
Purchase of Sec. Available-for-Sale |
-3.0 |
- |
- |
- |
- |
|
Purchase of Real Estate |
-0.9 |
0.0 |
-2.3 |
-2.3 |
-1.1 |
|
Decrease-Derivatives in Liabilities |
- |
- |
- |
-6.3 |
-4.2 |
|
Purchase of Invmt in Affiliates |
-1.9 |
0.5 |
- |
- |
- |
|
Purchase of Equity Method Sec. |
- |
-0.3 |
-1.4 |
- |
- |
|
Increase in ST Loans |
- |
- |
- |
-0.1 |
- |
|
Increase-Rent Guarantee Deposit |
- |
- |
- |
-1.1 |
0.0 |
|
Inc-Rent Rights Funds |
- |
- |
- |
-0.1 |
-1.0 |
|
Purchase of Derivative Assets |
- |
-0.1 |
- |
- |
- |
|
Increase-Land |
- |
- |
- |
-0.9 |
- |
|
Acquis. of Building |
- |
- |
- |
-1.8 |
-0.1 |
|
Purch. of Structure |
- |
- |
- |
-0.1 |
0.0 |
|
Purch. of Mach/Equip |
- |
- |
- |
-1.4 |
-3.3 |
|
Acq. of Trans Equip |
- |
- |
- |
-0.1 |
-0.1 |
|
Acq. in Tools/Suppl. |
- |
- |
- |
-2.4 |
-1.3 |
|
Inc. Const. In Prog |
- |
- |
- |
-17.4 |
-13.8 |
|
Acq-Lease Facility |
- |
- |
- |
0.0 |
- |
|
Purchase of Tangibles |
-8.3 |
-3.2 |
-6.7 |
- |
- |
|
Increase-Industrial Property Right |
- |
- |
- |
- |
0.0 |
|
Acq-Other Intangibles |
- |
- |
- |
-0.1 |
- |
|
Purchase of Intangibless |
-0.7 |
-0.6 |
-0.3 |
- |
- |
|
Cash from Investing Activities |
-48.7 |
38.6 |
-66.1 |
-41.3 |
-23.0 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
17.1 |
11.7 |
-11.0 |
27.2 |
26.9 |
|
Increase-LT Borrowings |
8.4 |
4.0 |
2.0 |
11.8 |
5.8 |
|
Capital Reduction |
- |
- |
- |
-1.6 |
- |
|
Decrease in Current Borrowings |
-39.9 |
- |
- |
-39.1 |
-25.6 |
|
Repay Curr LT Liabs |
- |
- |
- |
-4.1 |
0.0 |
|
Increase in Treasury Stocks |
-0.9 |
-1.7 |
5.2 |
-0.2 |
-0.3 |
|
Dividend Paid |
-2.2 |
-6.4 |
-5.0 |
-2.8 |
-2.7 |
|
Cash Inflow-Consol. Scope Change, FN |
- |
- |
- |
- |
0.9 |
|
Cash from Financing Activities |
-17.4 |
7.6 |
-8.8 |
-8.7 |
5.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Change in Cash |
-21.3 |
22.4 |
0.9 |
-7.1 |
4.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
31.9 |
10.0 |
8.7 |
14.8 |
12.3 |
|
Net Cash - Ending Balance |
10.6 |
32.4 |
9.6 |
7.7 |
17.2 |
|
Cash Interest Paid |
0.4 |
0.7 |
0.7 |
- |
- |
|
Cash Taxes Paid |
2.3 |
27.2 |
4.8 |
- |
- |
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.61.95 |
|
UK Pound |
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
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%)