MIRA INFORM REPORT
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Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
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Name : |
LG CHEM LTD |
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Registered Office : |
LG Twin Tower, 128, Yeoui-Daero, Yeongdeungpo-Gu, Seoul, 150721 |
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Country : |
Korea (South) |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.04.2001 |
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Com. Reg. No.: |
1078198139 |
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Legal Form : |
Public Parent |
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Line of Business : |
Subject is engaged in the manufacture of petrochemicals |
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No. of Employees : |
12,610 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Korea (South) |
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 |
KOREA (SOUTH) - 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 and 2013 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The administration in 2014 is likely to face
the challenge 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 about half of GDP.
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Source
: CIA |
Company
name and address
LG CHEM LTD
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Business
Description
LG CHEM, LTD. is a Korea-based company principally engaged in the
manufacture of petrochemicals. The Company mainly operates in three business
divisions: petrochemical division, which manufactures basic chemicals,
polyvinyl chloride products, plasticizers, polyethylene compounds, acrylic
acids, performance polymers, engineering plastics, acrylonitrile butadiene
styrene, conductive resins and other chemicals; information and electronic
material division, which manufactures toner, photosensitive materials, organic
light-emitting diode (OLED) materials, circuit materials and others used as
display materials, and battery division, which manufactures rechargeable
batteries applied in mobile phones, laptop computers and other mobile devices,
as well as lithium-ion batteries used for automobiles. For the nine months
ended 30 September 2013, LG Chem Ltd revenues decreased less than 1% to
W17.503T. Net income applicable to common stockholders decreased 10% to
W976.05B. Revenues reflect Petrochemical Manufacturing segment increase of 1%
to W8.925T, Electric Equipments segment increase of 3% to W1.326T, China
segment increase of 5% to W5.19T, West Europe segment increase of 36% to
W612.57B, Other Foreign segment increase of 5% to W1.597T.
Industry
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Industry |
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ANZSIC 2006: |
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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: |
2869 -
Industrial Organic Chemicals, Not Elsewhere Classified |
Key
Executives
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Name |
Title |
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Co-President, Co-Chief Executive Officer, Director |
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Co-President, Director |
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Yeong Hwan Kim |
Assistant Managing Director, Vice President |
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Min Hwan Kim |
Assistant Managing Director, Chief Human Resource Officer |
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Sun Ho Ahn |
Assistant Managing Director |
Significant
Developments
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Topic |
#* |
Most Recent Headline |
Date |
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1 |
Polypore International Inc's Celgard files patent
infringement lawsuit against LG Chem Ltd |
30-Jan-2014 |
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1 |
18-Jul-2013 |
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1 |
15-Mar-2013 |
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1 |
25-Apr-2013 |
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1 |
27-Jan-2014 |
* number of significant developments within the last 12 months
Financial
Summary
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As of 30-Sep-2013 |
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Stock
Snapshot
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Traded: Korea Stock Exchange: 051910 |
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As of 21-Feb-2014 Financials in: KRW |
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Registered No.(KOR): 1078198139
1 - Profit & Loss Item Exchange Rate: USD
1 = KRW 1094.92
2 - Balance Sheet Item Exchange Rate: USD 1 =
KRW 1055.1
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ANZSIC 2006 Codes: |
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1812 |
- |
Basic Organic Chemical Manufacturing |
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2439 |
- |
Other Electrical Equipment Manufacturing |
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1899 |
- |
Other Basic Chemical Product Manufacturing Not Elsewhere Classified |
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2429 |
- |
Other Electronic Equipment Manufacturing |
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1821 |
- |
Synthetic Resin and Synthetic Rubber Manufacturing |
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ISIC Rev 4 Codes: |
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2011 |
- |
Manufacture of basic chemicals |
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2029 |
- |
Manufacture of other chemical products n.e.c. |
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2720 |
- |
Manufacture of batteries and accumulators |
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2610 |
- |
Manufacture of electronic components and boards |
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2013 |
- |
Manufacture of plastics and synthetic rubber in primary forms |
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NACE Rev 2 Codes: |
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2014 |
- |
Manufacture of other organic basic chemicals |
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2720 |
- |
Manufacture of batteries and accumulators |
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2016 |
- |
Manufacture of plastics in primary forms |
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2017 |
- |
Manufacture of synthetic rubber in primary forms |
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2611 |
- |
Manufacture of electronic components |
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2059 |
- |
Manufacture of other chemical products n.e.c. |
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NAICS 2012 Codes: |
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32511 |
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Petrochemical Manufacturing |
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325998 |
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All Other Miscellaneous Chemical Product and Preparation Manufacturing
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325211 |
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Plastics Material and Resin Manufacturing |
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325194 |
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Cyclic Crude, Intermediate, and Gum and Wood Chemical Manufacturing |
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325212 |
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Synthetic Rubber Manufacturing |
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334419 |
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Other Electronic Component Manufacturing |
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335911 |
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Storage Battery Manufacturing |
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US SIC 1987: |
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2869 |
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Industrial Organic Chemicals, Not Elsewhere Classified |
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3679 |
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Electronic Components, Not Elsewhere Classified |
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3691 |
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Storage Batteries |
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2899 |
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Chemicals and Chemical Preparations, Not Elsewhere Classified |
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2822 |
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Synthetic Rubber (Vulcanizable Elastomers) |
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2865 |
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Cyclic Organic Crudes and Intermediates, and organic Dyes and Pigments |
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2821 |
- |
Plastics Materials, Synthetic Resins, and Nonvulcanizable Elastomers |
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UK SIC 2007: |
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2014 |
- |
Manufacture of other organic basic chemicals |
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2720 |
- |
Manufacture of batteries and accumulators |
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2016 |
- |
Manufacture of plastics in primary forms |
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2059 |
- |
Manufacture of other chemical products n.e.c. |
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2017 |
- |
Manufacture of synthetic rubber in primary forms |
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2611 |
- |
Manufacture of electronic components |
LG CHEM, LTD. is a Korea-based company principally engaged in the manufacture
of petrochemicals. The Company mainly operates in three business divisions:
petrochemical division, which manufactures basic chemicals, polyvinyl chloride
products, plasticizers, polyethylene compounds, acrylic acids, performance
polymers, engineering plastics, acrylonitrile butadiene styrene, conductive
resins and other chemicals; information and electronic material division, which
manufactures toner, photosensitive materials, organic light-emitting diode
(OLED) materials, circuit materials and others used as display materials, and
battery division, which manufactures rechargeable batteries applied in mobile
phones, laptop computers and other mobile devices, as well as lithium-ion
batteries used for automobiles. For the nine months ended 30 September 2013, LG
Chem Ltd revenues decreased less than 1% to W17.503T. Net income applicable to
common stockholders decreased 10% to W976.05B. Revenues reflect Petrochemical
Manufacturing segment increase of 1% to W8.925T, Electric Equipments segment
increase of 3% to W1.326T, China segment increase of 5% to W5.19T, West Europe
segment increase of 36% to W612.57B, Other Foreign segment increase of 5% to
W1.597T.
More
Business Descriptions
Vertically integrated chemical company engaged in petrochemicals,
performance polymers, industrial materials, and information and electronics
materials business
Chemical Products Mfr
Chemicals and allied products
All Other Chemical Product and Preparation Manufacturing
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That is good but is not enough. Hence, Renault and LG Chem are
currently talking about doubling the maximum speed. "They will not sign
a memorandum of understanding this time but they agreed in principle in the collaboration and talks are now underway to
iron out the differences in details."Oct 24, 2013LG Chem, Versalis To
Sell mLLDPE Products In ItalySouth Korea-based LG Chem has signed a deal with
Versalis to export metallocene-linear low-density polyethylene (mLLDPE)
products to Italy.Under the deal, Versalis will become LG Chem’s exclusive
business partner and sell its products in Italy. According to the company, the
deal has millions of dollars worth and the LG Group affiliate would ship
about 10,000 tons per year. |
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LG Chem also invested in 3D FPR and LC D glass substrates in the IT
& Electronic Materials segment. The company’s investments in Batteries
segment focused on new production and expansion of polymer batteries and
automotive batteries. In 2013, LG Chem plans to
invest in SSBR and High EVA product categories. Such focused
investments give an opportunity for the company to increase its sales and
market share.Stringent Environmental RegulationsLG Chem’s business could be
affected by the environmental regulations governing the global chemical
industry. The company is subject to variety of laws, regulations and policies
by the Government of South Korea and other foreign governments, where the
company operates. |
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Under the plan, the company will also undertake plant upgrades at its
facilities producing superabsorbent polymers and synthetic rubber as part of 2014
investment. With the modernisation, the company plans to increase its annual
revenues in 2014 by 3.6% to KRW 23.92 trillion ($22.12bn). In 2013, the
company has reported a 39.5% year on year decrease in the net profit to KRW
176.9bn ($163m), attributed to weak demand due to the global economic
slump.Dec 18, 2013LG Chem to expand production with huge investmentsSouth
Korea-based LG Chem is planning to invest
KRW320bn ($304m) by September 2015 to expand the production of crude acrylic
acid (CAA) and superabsorbent polymers (SAP).The move is expected to increase
the company’s annual production capacity of CAA by 80,000 tonnes to 510,000
tonnes and SAP by 160,000 tonnes to 360,000 tonnes. LG Chem expects that the
expansion would increase its sales by over KRW400bn ($380m) per year. |
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LG Chem expects that the expansion would increase its sales by over
KRW400bn ($380m) per year. According to the company, the global CAA market is
expected to grow at an annual average of 6% to reach 5.9 million tonnes in 2017
from 4.4 million tonnes in 2002. Additionally, the chemical company also plans to increase the volume of its CAA and SAP
businesses to over KRW1.7trillion from the current SEK1.3trillion.Nov 04,
2013LG Chem, Renault to partner on high speed electric car developmentKorean
battery manufacturer LG Chem and Renault SA are planning to cooperate on the
development of an electric car with a top speed of 400kmph, The Koea Times
reported. |
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Helpful |
Harmful |
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Internal Origin |
Strengths Dominant
Market Position in Polarizer Market |
Weaknesses |
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External Origin |
Opportunities Growing
Demand for Hybrid-Electric Vehicles (HEVs) |
Threats Stringent
Environmental Regulations |
Overview
LG Chem, Ltd. (LG Chem) pioneers in the manufacture and marketing of
high quality petrochemicals, information and electronic materials, and
industrial materials. The company is the leader in a few of its businesses, which
allows it to achieve stellar performance enjoying a competitive advantage.
However, legal proceedings and huge debt compared to various other companies in
the sector are few causes for concern to the company. Nonetheless, growing
demand for hybrid electric vehicles (HEV) and strategic plans would provide
growth opportunities for the company. Yet, stringent regulatory obligations
restricting chemical industry, and competitive pressure could pose several
challenges to the company in sustaining profitable growth.
Strengths
Dominant Market Position in Polarizer Market
Business competency in terms of market leadership would drive the
company’s growth and provide it a competitive advantage. LG Chem is a leading
provider of petrochemicals to global polarizer market. Polarizer for TFT-LCD
comprises 95% of the entire polarizer market and the company is the leader in
large-area TFT-LCD polarizer market in 2012 following from 2010. According to
industry estimates, as of mid 2012, LG Chem had a market share of 27.7%
overshadowing 25.3% market share of Nitto Denko and 25% of Sumitomo Chem. In
the TV-use polarizer market, LG Chem competes with Nitto Denko and Sumitomo
Chemical for the leading place. In the monitor-use polarizer market, LG Chem
dominates with a market share of approximately 45%. The company’s
market-leading position is driven by its manufacturing know-how for value-added
products at competitive prices. The company’s leading market position would
enhance its brand image and provide multiple growth opportunities.
Vertical Integration in Petrochemicals Business
LG Chem is vertically integrated across the value chain of petrochemical
industry, which enables it to identify various cost synergies. The company
produces quality petrochemicals ranging from basic distillates to specialty
polymers. Its petrochemical business engages in the production of ethylene,
propylene, mixed C4s, and pyrolysis gasoline, synthetic rubber and specialty
resins, polyvinyl chloride (PVC), acrylonitrile-butadienestyrene (ABS)
materials, acrylates and plasticizers. The company attained vertically
integrated production system in the PVC and ABS businesses through a merger
with LG Daesan Petrochemicals in 2006 and LG Petrochemical in 2007.
Furthermore, capacity expansion of ABS plant in China enhanced the company's
position in the global ABS industry. LG Chem’s vertically integrated
petrochemical businesses would increase its cost competitiveness and reduce the
dependency on third party suppliers.
Strong Research and Development Capabilities
Operating in technology intensive businesses, LG Chem continues to
invest in new and advanced technologies across all its business fields, which
will enhance its competitive position. The company engages in basic and applied
research to develop new products and processes to enhance existing products and
processes and to develop new applications for existing products. Since its
inception, the company introduced several breakthrough products and
technologies. It developed and launched TFT-LCD polarizers, LCD color filter
photoresists, OLED materials, printed circuit board materials, and the
industry’s first 2,400 mAh, 2,600 mAh, and 2,800 mAh lithium-ion batteries.
In the petrochemical business, the company develops specialty products, catalysts,
processes, and eco-friendly plasticizers. LG Chem registered more than 9,000
patents worldwide, creating a strong intellectual property portfolio that makes
it increasingly competitive in the global marketplace. The company has Research
Park in Daejeon, Korea which includes (Corporate R&D Center) and
Information & Electronic Materials R&D Center, Battery R&D Center
and Petrochemicals & Polymers R&D Center. LG Chem also has a global
R&D network with satellite labs in the US, Germany, Russia, and China.
Thus, strong R&D base helps the company develop new products and sustain
its leading market position.
Weaknesses
For the fiscal year 2012, the company recorded a total debt of
KRW2,946,907m. It total long-term debt stood at KRW1,195,126m, an increase of
73% over 2011. This could impair its ability to obtain additional financing for
working capital, capital expenditures or general corporate purposes, especially
if the ratings assigned to its debt securities by rating organizations were revised
downward. It could restrict the flexibility of the company in responding to
changing market conditions and make it more vulnerable during times of
slowdown. Another major consequence of the company's indebtedness would be that
the company would require allocate a substantial portion of the cash flow from
operations to pay the principal and interest on debt, thereby reducing funds
which could be used for expansion through acquisitions, on marketing and the
expansion of product offerings.
Involvement in litigations leading to legal proceedings will incur
additional costs to the company and affect its profitability. In December 2012,
the company and few of its overseas subsidiaries were investigated by U.S.
Department of Justice in relation to price fixing of small secondary batteries.
In the same month, the company and its subsidiaries were named as defendants in
eight lawsuits. Recently, Nippo Shokubai Co. Ltd. filed a lawsuit against LG
Chem seeking an injunction and damage for LG Chem's infringement of Nippon
Shokubai's Korean patent, 481,059 relating to the polymers for concrete
admixture used in construction industry. Nippo Shokubai stated that it heavily
invested in research and development to achieve improved quality and productivity
of polymers for concrete admixture such as AQUALOC. In response to the lawsuit
filing, it discontinued production and sale of its polycarboxylate copolymer;
namely, CP-ST. Regardless the outcome, such lawsuits could impact the results
of operations. Further, adverse decisions could hamper its brand equity gained
over the years.
Opportunities
Growing Demand for Hybrid-Electric Vehicles (HEVs)
The growing demand for clean vehicles would provide an opportunity for
the company to boost its sales and strengthen its market presence in its
batteries segment. LG Chem engages in production of both lithium-ion and
lithium-ion polymer rechargeable batteries. The company’s batteries find
application in various industries, including robots, robot vacuum cleaners,
electric bicycles, electric wheelchairs, and electric and hybrid vehicles. The
world demand for hybrid-electric vehicles (HEVs) is expected to reach 4 million
units in 2015. The HEV demand is high in Chinese and South Korean market,
mainly due to government interest in dealing with mobile emissions (China), and
planned local production of HEVs in both China and South Korea. The rising
demand will boost the battery market to $8.6 billion by 2015.
Positive Outlook of Petrochemical Industry
LG Chem could be benefited from the potential global petrochemicals
market. According to the in-house research reports, the global petrochemicals
industry was valued at $733.4 billion, and it is expected to grow at a rate of
8.8% to reach $1699 billion by 2020. Global market for polyethylene is expected
to reach $186 billion in 2020. In addition, total world market for
polypropylene is expected to grow at a rate of 8.4% during 2010-2020 to reach
$109.1 billion. Such growth in petrochemical sector is expected to be driven by
Asia Pacific, and Middle East and Africa regions. Petrochemicals demand in
Middle East and Africa is expected to grow at a rate of 11.2% from 2010 through
2012. Asia Pacific’s petrochemicals market is expected to register CAGR of
10.2% during 2010-2020 to reach $1070 billion. Such a strong outlook of the
petrochemical industry could help LG Chem expand its geographic operations and
explore untapped markets to bolster top-line growth.
The company focuses on business expansion through organic and inorganic
methods. It focuses on increasing the output of petrochemical products; as well
as LCD glasses, batteries and films used in 3D televisions. In 2012, the
company reported total investments of approximately KRW 2.1 trillion. It
primarily invested in expansion of production capacity of highly profitable
products such as SA P, acrylates, and high EVA. LG Chem also invested in 3D FPR
and LC D glass substrates in the IT & Electronic Materials segment. The
company’s investments in Batteries segment focused on new production and
expansion of polymer batteries and automotive batteries. In 2013, LG Chem plans
to invest in SSBR and High EVA product categories. Such focused investments
give an opportunity for the company to increase its sales and market share.
Threats
Stringent Environmental Regulations
LG Chem’s business could be affected by the environmental regulations
governing the global chemical industry. The company is subject to variety of
laws, regulations and policies by the Government of South Korea and other
foreign governments, where the company operates. One of such is REACH
(Registration Evaluation and Authorization of Chemicals), which regulates the
products manufactured and marketed in Europe. REACH exemplifies the stringent
regulatory environment that is set to affect chemical producers. Phased over a
period of 11 years, the regulation mandates all companies to develop and submit
dossiers containing datasets about their chemical products and detail their
potential impact and risk on environment. This will prove to be a challenge
while launching new products as it is a time-consuming and expensive process.
It may also result in phasing out many existing chemicals from the market,
which may be regarded as toxic and hazardous. REACH directly applies to over
30,000 different chemical substances that are produced or sold in Europe and
its implementation is expected to cost European chemical industry about $3
billion. Other countries too are expected to model their regulations after
REACH. The US also implements similar regulations with the reform of Toxic
Substances Control Act. China has its own version of RoHS (Restriction of
Hazardous Substances), which restricts the use of certain chemicals in the
market. Such stringent environmental regulations are set to get tightened in
the near future, affecting both existing and new products of the company.
Infringement of Intellectual Property
LG Chem’s intellectual property rights could be challenged,
invalidated, or infringed by its competitors. The company owns trademarks for
its various products, including. The company has strong R&D activity which
allowed it to develop several new technologies and products. The company’s
intellectual property includes copyrights, patents, trademarks, industrial
design rights and various trade secrets. Currently, the company has more than
9,000 registered patents and several patent pending applications worldwide.
Failure to meet the requirements in securing its technology could adversely
hamper the company’s competitive position. Similarly, the company could face
infringement claims and incur additional costs that would affect its
profitability.
LG Chem's business operations face intense competition from both
domestic and foreign chemical manufacturers, which may have a negative impact
on its performance. Increased competition may lead the company to reduce its
prices, which could negatively affect its margins. The company operates in a
progressively more complex and challenging chemical marketplace whose dynamics
is ever-changing. Its key competitors include Dow Chemical Company, Sumitomo
Chemical, Samsung SDI Co., Ltd., Nitto Denko Corporation and others.
Technological advances by any player in the market could make its present or
future products obsolete or uneconomical. The existing market includes
companies of varying sizes; some more specialized than the company with respect
to particular materials, and some with greater financial resources than the company.
It competes in this evolving marketplace on the basis of many factors,
including price, quality, innovation, service, reputation, distribution and
promotion.
Corporate Family
Total Corporate Family Members: 11
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Seoul |
Korea, Republic of |
Basic Chemical Manufacturing |
21,246.3 |
12,610 |
|
|
Joint Venture |
Ch'onan, Choongnam |
Korea, Republic of |
Miscellaneous Chemical Manufacturing |
1,400 |
||
|
Subsidiary |
Ningbo, Zhejiang |
China |
Synthetic Chemical Manufacturing |
1,308.2 |
562 |
|
|
Subsidiary |
Biskupice Podgorne |
Poland |
Semiconductor and Other Electronic Component Manufacturing |
13.5 |
530 |
|
|
Subsidiary |
Tianjin, Tianjin |
China |
Synthetic Chemical Manufacturing |
138.2 |
170 |
|
|
Subsidiary |
Tianjin, Tianjin |
China |
Rubber and Plastic Product Manufacturing |
77.5 |
150 |
|
|
Subsidiary |
Englewood Cliffs, NJ |
United States |
Miscellaneous Wholesale |
40 |
||
|
Subsidiary |
North Point, Hong Kong |
Hong Kong |
Chemical Wholesale |
500.0 |
23 |
|
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Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Chemical Wholesale |
139.2 |
20 |
|
|
Subsidiary |
Bangkok |
Thailand |
Miscellaneous Chemical Manufacturing |
3 |
||
|
Subsidiary |
Beijing, Beijing |
China |
Chemical Wholesale |
78.6 |
Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
ExxonMobil Chemical Company |
Houston, Texas, United States |
14,000 |
Private |
|
KP Chemical Corp |
Ulsan, Korea, Republic of |
610 |
Public |
|
Kumho Petro Chemical Co Ltd |
Seoul, Korea, Republic of |
1,310 |
Public |
|
Mitsubishi Chemical Corporation |
Tokyo, Japan |
27,689 |
Private |
|
Mitsui Chemicals, Inc. |
Minato-Ku, Japan |
12,846 |
Public |
|
NITTO DENKO CORPORATION |
Osaka-Shi, Japan |
25,476 |
Public |
|
Oci Co Ltd |
Seoul, Korea, Republic of |
2,745 |
Public |
|
Samsung SDI Co Ltd |
Yongin, Korea, Republic of |
8,320 |
Public |
|
Sekisui Chemical Co Ltd |
Osaka-Shi, Japan |
22,202 |
Public |
|
Sumitomo Chemical Co Ltd |
Chuo-Ku, Japan |
30,396 |
Public |
|
The Dow Chemical Company |
Midland, Michigan, United States |
52,030 |
Public |
|
Toray Industries Inc |
Chuo-Ku, Japan |
42,584 |
Public |
|
Tosoh Corporation |
Minato-Ku, Japan |
11,268 |
Public |
|
Toyama Chemical Co Ltd |
Tokyo, Japan |
851 |
Private |
Executives
Report
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Board of
Directors |
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Chairman, Board Member |
Chairman |
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Co-President, Chief Financial Officer, Director |
Director/Board Member |
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Co-President, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Co-President, Co-Chief Executive Officer, Director |
Director/Board Member |
|||||||
|
|||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Board Member |
Director/Board Member |
|
||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
||||||
|
|||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|||||||
|
|||||||||
|
Board Member |
Director/Board Member |
|
||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
||||||
|
|||||||||
|
Director |
Director/Board Member |
|
||||||
|
Board Member |
Director/Board Member |
|
||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
||||||
|
|||||||||
|
Co-President, Co-Chief Executive Officer, Director |
Director/Board Member |
|||||||
|
|||||||||
|
Co-President, Co-Chief Executive Officer, Director |
Director/Board Member |
|
|
|||||
|
|||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|||||||
|
|||||||||
|
Executives |
|
|
|
|
||||||
|
Co-President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
|
||||||
|
|||||||||
|
Co-President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
|||||||
|
|||||||||
|
Co-President, Co-Chief Executive Officer, Director |
Chief Executive Officer |
|||||||
|
|||||||||
|
President and Chief Financial Officer |
President |
|
||||||
|
Co-President, Chief Financial Officer, Director |
President |
|
||||||
|
|||||||||
|
Co-President, Director |
President |
|||||||
|
|||||||||
|
President-Energy Solution Company, Board Member |
President |
|
||||||
|
President-IT&E Materials Company, Board Member |
President |
|
||||||
|
Vice Chairman and Co-Chief Executive Officer |
Division Head Executive |
|
||||||
|
Head-Investor Relations & General Manager |
Division Head Executive |
|
||||||
|
Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
|
|||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director, Chief Human Resource Officer |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director, Vice President |
Managing Director |
|
||||||
|
|||||||||
|
Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Managing Director |
Managing Director |
|||||||
|
|||||||||
|
Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Assistant Managing Director |
Managing Director |
|
||||||
|
|||||||||
|
Vice President |
Senior Management (General) |
|
||||||
|
|||||||||
|
Vice President |
Senior Management (General) |
|
||||||
|
|||||||||
|
Vice President |
Senior Management (General) |
|||||||
|
|||||||||
|
Vice President |
Senior Management (General) |
|
||||||
|
|||||||||
|
Vice President |
Senior Management (General) |
|
||||||
|
|||||||||
|
Chief Finance Officer |
Finance Executive |
|
||||||
|
Chief HR Officer |
Human Resources Executive |
|
||||||
|
Investor Relations Director |
Investor Relations Executive |
|
||||||
|
VP-R&D |
Research & Development Executive |
|
||||||
|
Polypore International Inc's Celgard files patent infringement lawsuit
against LG Chem Ltd Jan 30, 2014
|
|
LG Chem Ltd. declares annual cash dividend for FY 2013 Jan 27, 2014
|
|
LG Chem Ltd. Fined by United States Department of Justice for Personal
Computer Lithium Battery Cartel-Jiji Press Jul 18, 2013
|
|
Xilong Chemical Co Ltd Signs Authorized Distribution Agreements with
SK Networks Co., LTD and LG Chem Apr 25, 2013
|
|
LG Chem Ltd. Announces Resignation of Co-CEO Mar 15, 2013
|
Annual Income
Statement
|
Financials in:
USD (mil) |
|
|
Except for share
items (millions) and per share items (actual units) |
|
31-Dec-2013 |
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period Average) |
1094.919754 |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Net Sales |
- |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
|
Revenue |
- |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
|
Total Revenue |
- |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
- |
17,708.7 |
16,784.0 |
13,381.3 |
9,606.0 |
|
Cost of Revenue, Total |
- |
17,708.7 |
16,784.0 |
13,381.3 |
9,606.0 |
|
Gross Profit |
- |
2,935.6 |
3,683.3 |
3,458.4 |
2,554.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
- |
850.0 |
775.7 |
704.8 |
556.1 |
|
Labor & Related Expense |
- |
312.1 |
293.2 |
240.9 |
194.6 |
|
Advertising Expense |
- |
18.0 |
16.6 |
9.9 |
8.2 |
|
Total Selling/General/Administrative Expenses |
- |
1,180.1 |
1,085.6 |
955.6 |
758.9 |
|
Depreciation |
- |
48.8 |
43.7 |
36.0 |
31.6 |
|
Amortization of Intangibles |
- |
11.4 |
9.8 |
10.7 |
7.3 |
|
Depreciation/Amortization |
- |
60.2 |
53.5 |
46.7 |
39.0 |
|
Investment Income -
Operating |
- |
- |
- |
19.4 |
59.0 |
|
Interest/Investment Income - Operating |
- |
- |
- |
19.4 |
59.0 |
|
Interest Expense (Income) - Net Operating Total |
- |
- |
- |
19.4 |
59.0 |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
- |
7.0 |
21.3 |
|
Unusual Expense (Income) |
- |
- |
- |
7.0 |
21.3 |
|
Other Operating Expense |
- |
- |
- |
19.6 |
55.1 |
|
Other, Net |
- |
- |
- |
-30.0 |
-22.9 |
|
Other Operating Expenses, Total |
- |
- |
- |
-10.4 |
32.2 |
|
Total Operating Expense |
- |
18,949.0 |
17,923.1 |
14,399.7 |
10,516.5 |
|
|
|
|
|
|
|
|
Operating Income |
- |
1,695.3 |
2,544.3 |
2,440.0 |
1,643.5 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
- |
-64.8 |
-60.6 |
-53.0 |
-81.4 |
|
Interest Expense, Net Non-Operating |
- |
-64.8 |
-60.6 |
-53.0 |
-81.4 |
|
Interest Income -
Non-Operating |
- |
26.7 |
24.7 |
23.1 |
14.9 |
|
Investment Income -
Non-Operating |
- |
11.3 |
15.1 |
38.5 |
10.7 |
|
Interest/Investment Income - Non-Operating |
- |
38.0 |
39.9 |
61.6 |
25.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
- |
-26.7 |
-20.7 |
8.7 |
-55.7 |
|
Gain (Loss) on Sale of Assets |
- |
-1.4 |
-3.9 |
- |
- |
|
Other Non-Operating Income (Expense) |
- |
1.6 |
4.7 |
-11.2 |
-8.8 |
|
Other, Net |
- |
1.6 |
4.7 |
-11.2 |
-8.8 |
|
Income Before Tax |
- |
1,668.8 |
2,524.3 |
2,437.5 |
1,579.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
- |
332.0 |
565.9 |
535.1 |
347.2 |
|
Income After Tax |
- |
1,336.8 |
1,958.4 |
1,902.4 |
1,231.8 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
-10.5 |
-28.7 |
-35.9 |
-24.0 |
|
Net Income Before Extraord Items |
- |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.8 |
|
Discontinued Operations |
- |
- |
- |
- |
-0.3 |
|
Extraord Items |
- |
- |
- |
- |
0.0 |
|
Total Extraord Items |
- |
- |
- |
- |
-0.3 |
|
Net Income |
- |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.4 |
|
|
|
|
|
|
|
|
Preferred Dividends |
- |
-137.8 |
-200.4 |
-193.8 |
-125.4 |
|
Total Adjustments to Net Income |
- |
-137.8 |
-200.4 |
-193.8 |
-125.4 |
|
Income Available to Common Excl Extraord Items |
- |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
- |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
- |
65.9 |
65.9 |
65.9 |
68.1 |
|
Basic EPS Excl Extraord Items |
- |
18.03 |
26.24 |
25.38 |
15.89 |
|
Basic/Primary EPS Incl Extraord Items |
- |
18.03 |
26.24 |
25.38 |
15.88 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
- |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
|
Diluted Weighted Average Shares |
- |
65.9 |
65.9 |
65.9 |
68.1 |
|
Diluted EPS Excl Extraord Items |
- |
18.03 |
26.24 |
25.38 |
15.89 |
|
Diluted EPS Incl Extraord Items |
- |
18.03 |
26.24 |
25.38 |
15.88 |
|
Dividends per Share - Common Stock Primary Issue |
- |
3.55 |
3.61 |
3.46 |
2.74 |
|
Gross Dividends - Common Stock |
- |
234.0 |
238.0 |
228.0 |
180.7 |
|
Interest Expense, Supplemental |
- |
64.8 |
60.6 |
53.0 |
81.4 |
|
Interest Capitalized, Supplemental |
- |
-26.9 |
-20.4 |
-16.1 |
-7.3 |
|
Depreciation, Supplemental |
- |
759.9 |
669.6 |
565.8 |
444.9 |
|
Total Special Items |
- |
1.4 |
3.9 |
7.0 |
21.3 |
|
Normalized Income Before Tax |
- |
1,670.2 |
2,528.2 |
2,444.5 |
1,600.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
0.3 |
0.9 |
1.5 |
4.7 |
|
Inc Tax Ex Impact of Sp Items |
- |
332.3 |
566.8 |
536.6 |
351.9 |
|
Normalized Income After Tax |
- |
1,337.9 |
1,961.4 |
1,907.9 |
1,248.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
- |
1,189.5 |
1,732.4 |
1,678.2 |
1,098.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
- |
18.05 |
26.28 |
25.46 |
16.13 |
|
Diluted Normalized EPS |
- |
18.05 |
26.28 |
25.46 |
16.13 |
|
Amort of Intangibles, Supplemental |
- |
16.9 |
14.2 |
15.5 |
13.3 |
|
Advertising Expense, Supplemental |
- |
18.0 |
16.6 |
9.9 |
8.2 |
|
Normalized EBIT |
- |
1,695.3 |
2,544.3 |
2,466.5 |
1,723.8 |
|
Normalized EBITDA |
- |
2,472.0 |
3,228.0 |
3,047.7 |
2,182.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
31-Dec-2013 |
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1055.099978 |
1066.400024 |
1152 |
1134.9 |
1164.475 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Cash & Equivalents |
- |
675.9 |
1,197.4 |
1,205.4 |
950.3 |
|
Cash and Short Term Investments |
- |
675.9 |
1,197.4 |
1,205.4 |
950.3 |
|
Accounts Receivable -
Trade, Gross |
- |
2,945.6 |
2,710.3 |
2,235.7 |
1,973.7 |
|
Provision for Doubtful
Accounts |
- |
-9.5 |
-4.4 |
-6.4 |
-10.8 |
|
Trade Accounts Receivable - Net |
- |
2,943.3 |
2,707.9 |
2,233.2 |
1,965.7 |
|
Other Receivables |
- |
92.9 |
96.8 |
53.5 |
52.5 |
|
Total Receivables, Net |
- |
3,036.2 |
2,804.6 |
2,286.7 |
2,018.1 |
|
Inventories - Finished Goods |
- |
1,395.9 |
1,258.2 |
1,129.3 |
772.8 |
|
Inventories - Work In Progress |
- |
280.5 |
278.5 |
237.8 |
159.6 |
|
Inventories - Raw Materials |
- |
714.2 |
549.8 |
502.7 |
393.2 |
|
Inventories - Other |
- |
119.2 |
97.2 |
76.9 |
80.9 |
|
Total Inventory |
- |
2,509.8 |
2,183.7 |
1,946.8 |
1,406.5 |
|
Prepaid Expenses |
- |
92.0 |
83.1 |
84.8 |
65.4 |
|
Other Current Assets |
- |
674.9 |
30.0 |
20.1 |
91.5 |
|
Other Current Assets, Total |
- |
674.9 |
30.0 |
20.1 |
91.5 |
|
Total Current Assets |
- |
6,988.9 |
6,298.8 |
5,543.8 |
4,531.8 |
|
|
|
|
|
|
|
|
Buildings |
- |
2,620.9 |
2,108.4 |
1,853.2 |
1,591.0 |
|
Land/Improvements |
- |
667.9 |
525.1 |
390.7 |
371.1 |
|
Machinery/Equipment |
- |
9,046.0 |
7,153.8 |
6,596.6 |
5,538.1 |
|
Construction in
Progress |
- |
1,256.7 |
1,263.8 |
784.8 |
414.6 |
|
Other
Property/Plant/Equipment |
- |
185.4 |
161.6 |
83.4 |
15.4 |
|
Property/Plant/Equipment - Gross |
- |
13,776.8 |
11,212.6 |
9,708.8 |
7,930.2 |
|
Accumulated Depreciation |
- |
-6,155.0 |
-5,075.3 |
-4,683.6 |
-3,884.6 |
|
Property/Plant/Equipment - Net |
- |
7,828.4 |
6,402.7 |
5,174.1 |
4,100.9 |
|
Goodwill, Net |
- |
31.3 |
29.0 |
29.4 |
28.7 |
|
Intangibles, Net |
- |
188.0 |
150.8 |
129.3 |
110.6 |
|
LT Investment - Affiliate Companies |
- |
379.8 |
285.1 |
188.2 |
188.5 |
|
LT Investments - Other |
- |
20.5 |
5.2 |
3.7 |
3.9 |
|
Long Term Investments |
- |
400.3 |
290.3 |
191.9 |
192.4 |
|
Note Receivable - Long Term |
- |
0.1 |
0.6 |
0.6 |
0.2 |
|
Deferred Income Tax - Long Term Asset |
- |
53.9 |
28.0 |
39.9 |
14.0 |
|
Other Long Term Assets |
- |
57.7 |
68.5 |
58.0 |
64.7 |
|
Other Long Term Assets, Total |
- |
111.7 |
96.4 |
97.9 |
78.7 |
|
Total Assets |
- |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
- |
1,427.6 |
1,304.8 |
1,147.7 |
941.2 |
|
Accrued Expenses |
- |
- |
- |
1.9 |
- |
|
Notes Payable/Short Term Debt |
- |
1,562.9 |
1,260.3 |
1,110.1 |
1,110.5 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
79.8 |
334.9 |
317.8 |
463.3 |
|
Dividends Payable |
- |
1.0 |
1.0 |
0.0 |
0.1 |
|
Customer Advances |
- |
46.6 |
29.6 |
34.2 |
36.3 |
|
Income Taxes Payable |
- |
134.0 |
251.3 |
361.0 |
172.0 |
|
Other Payables |
- |
718.5 |
824.8 |
723.8 |
583.2 |
|
Other Current Liabilities |
- |
97.4 |
94.0 |
72.4 |
48.4 |
|
Other Current liabilities, Total |
- |
997.6 |
1,200.7 |
1,191.4 |
840.0 |
|
Total Current Liabilities |
- |
4,067.9 |
4,100.6 |
3,769.0 |
3,355.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
1,117.8 |
593.6 |
417.0 |
488.5 |
|
Capital Lease Obligations |
- |
2.9 |
4.5 |
6.4 |
7.7 |
|
Total Long Term Debt |
- |
1,120.7 |
598.2 |
423.4 |
496.3 |
|
Total Debt |
- |
2,763.4 |
2,193.3 |
1,851.3 |
2,070.1 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
141.1 |
52.4 |
12.6 |
0.0 |
|
Deferred Income Tax |
- |
141.1 |
52.4 |
12.6 |
0.0 |
|
Minority Interest |
- |
127.6 |
133.9 |
123.7 |
100.9 |
|
Reserves |
- |
10.6 |
2.0 |
- |
- |
|
Pension Benefits - Underfunded |
- |
99.3 |
52.8 |
7.2 |
46.7 |
|
Other Long Term Liabilities |
- |
14.1 |
36.0 |
43.5 |
55.6 |
|
Other Liabilities, Total |
- |
124.0 |
90.8 |
50.6 |
102.3 |
|
Total Liabilities |
- |
5,581.3 |
4,975.8 |
4,379.2 |
4,054.5 |
|
|
|
|
|
|
|
|
Preferred Stock - Non Redeemable |
- |
35.8 |
33.1 |
33.6 |
32.8 |
|
Preferred Stock - Non Redeemable, Net |
- |
35.8 |
33.1 |
33.6 |
32.8 |
|
Common Stock |
- |
310.7 |
287.6 |
292.0 |
284.6 |
|
Common Stock |
- |
310.7 |
287.6 |
292.0 |
284.6 |
|
Additional Paid-In Capital |
- |
1,085.7 |
1,005.0 |
1,020.2 |
994.2 |
|
Retained Earnings (Accumulated Deficit) |
- |
8,631.6 |
6,990.7 |
5,510.5 |
4,153.0 |
|
Treasury Stock - Common |
- |
-14.5 |
-13.4 |
-13.6 |
-13.3 |
|
Other Equity |
- |
-0.2 |
-0.2 |
-0.2 |
-398.5 |
|
Other Comprehensive Income |
- |
-81.6 |
-9.9 |
-54.6 |
-64.0 |
|
Other Equity, Total |
- |
-81.8 |
-10.1 |
-54.8 |
-462.6 |
|
Total Equity |
- |
9,967.5 |
8,293.0 |
6,787.8 |
4,988.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
- |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
- |
65.9 |
65.9 |
65.9 |
65.9 |
|
Total Common Shares Outstanding |
- |
65.9 |
65.9 |
65.9 |
65.9 |
|
Treasury Shares - Common Stock Primary Issue |
- |
0.4 |
0.4 |
0.4 |
0.4 |
|
Shares Outstanding - Preferred Stock Primary
Issue |
- |
7.6 |
7.6 |
7.6 |
7.6 |
|
Total Preferred Stock Outstanding |
- |
7.6 |
7.6 |
7.6 |
7.6 |
|
Treasury Shares - Preferred Primary Issue |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
- |
- |
10,722 |
9,304 |
8,194 |
|
Number of Common Shareholders |
- |
- |
- |
90,994 |
- |
|
Deferred Revenue - Current |
- |
46.6 |
29.6 |
34.2 |
36.3 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
316.2 |
- |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
316.2 |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
- |
|
Total Capital Leases, Supplemental |
- |
4.9 |
6.3 |
8.0 |
9.2 |
|
Capital Lease Payments Due in Year 1 |
- |
2.0 |
1.7 |
1.6 |
1.4 |
|
Capital Lease Payments Due in Year 2 |
- |
0.7 |
1.1 |
1.6 |
1.9 |
|
Capital Lease Payments Due in Year 3 |
- |
0.7 |
1.1 |
1.6 |
1.9 |
|
Capital Lease Payments Due in Year 4 |
- |
0.7 |
1.1 |
1.6 |
1.9 |
|
Capital Lease Payments Due in Year 5 |
- |
0.7 |
1.1 |
1.6 |
1.9 |
|
Capital Lease Payments Due in 2-3 Years |
- |
1.4 |
2.3 |
3.2 |
3.9 |
|
Capital Lease Payments Due in 4-5 Years |
- |
1.4 |
2.3 |
3.2 |
3.9 |
Annual Cash Flows
Financials in: USD (mil)
|
31-Dec-2013 |
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period Average) |
1094.919754 |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Net Income/Starting Line |
- |
1,668.8 |
2,524.3 |
2,437.5 |
1,544.5 |
|
Depreciation |
- |
758.3 |
668.8 |
565.8 |
444.9 |
|
Depreciation/Depletion |
- |
758.3 |
668.8 |
565.8 |
444.9 |
|
Amortization of
Intangibles |
- |
16.9 |
14.2 |
15.5 |
13.3 |
|
Amortization |
- |
16.9 |
14.2 |
15.5 |
13.3 |
|
Unusual Items |
- |
23.6 |
42.1 |
38.2 |
31.7 |
|
Other Non-Cash
Items |
- |
30.7 |
64.4 |
4.2 |
26.8 |
|
Non-Cash Items |
- |
54.3 |
106.6 |
42.3 |
58.5 |
|
Accounts
Receivable |
- |
-125.2 |
-514.6 |
-128.3 |
-517.1 |
|
Inventories |
- |
-196.0 |
-248.8 |
-461.8 |
47.2 |
|
Accounts Payable |
- |
-60.9 |
251.1 |
246.5 |
712.8 |
|
Other Liabilities |
- |
-62.0 |
-65.9 |
-113.0 |
-34.8 |
|
Other Operating
Cash Flow |
- |
-487.3 |
-713.5 |
-436.2 |
-537.0 |
|
Changes in
Working Capital |
- |
-931.4 |
-1,291.7 |
-892.8 |
-328.9 |
|
Cash from
Operating Activities |
- |
1,566.9 |
2,022.2 |
2,168.3 |
1,732.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed
Assets |
- |
-1,692.7 |
-1,981.6 |
-1,398.6 |
-861.3 |
|
Purchase/Acquisition
of Intangibles |
- |
-29.4 |
-24.5 |
-21.0 |
-18.4 |
|
Capital
Expenditures |
- |
-1,722.1 |
-2,006.1 |
-1,419.7 |
-879.7 |
|
Sale of Fixed
Assets |
- |
8.2 |
4.4 |
4.4 |
29.2 |
|
Sale/Maturity of
Investment |
- |
- |
0.0 |
0.5 |
5.7 |
|
Purchase of
Investments |
- |
-81.1 |
-39.0 |
-66.4 |
-18.8 |
|
Sale of Intangible
Assets |
- |
1.8 |
- |
0.2 |
0.6 |
|
Other Investing
Cash Flow |
- |
-562.6 |
-17.8 |
78.3 |
33.5 |
|
Other Investing
Cash Flow Items, Total |
- |
-633.7 |
-52.3 |
16.9 |
50.1 |
|
Cash from
Investing Activities |
- |
-2,355.8 |
-2,058.4 |
-1,402.7 |
-829.6 |
|
|
|
|
|
|
|
|
Other Financing
Cash Flow |
- |
- |
-6.7 |
3.0 |
-153.6 |
|
Financing Cash
Flow Items |
- |
- |
-6.7 |
3.0 |
-153.6 |
|
Total Cash
Dividends Paid |
- |
-280.6 |
-287.6 |
-242.1 |
-165.0 |
|
Repurchase/Retirement
of Common |
- |
- |
- |
0.0 |
-1.8 |
|
Common Stock, Net |
- |
- |
- |
0.0 |
-1.8 |
|
Issuance
(Retirement) of Stock, Net |
- |
- |
- |
0.0 |
-1.8 |
|
Long
Term Debt Issued |
- |
- |
- |
- |
234.0 |
|
Long
Term Debt Reduction |
- |
-400.8 |
-891.2 |
-501.3 |
-469.1 |
|
Long Term Debt,
Net |
- |
-400.8 |
-891.2 |
-501.3 |
-235.1 |
|
Total Debt Issued |
- |
899.8 |
1,242.3 |
200.4 |
111.5 |
|
Issuance
(Retirement) of Debt, Net |
- |
499.0 |
351.1 |
-300.8 |
-123.6 |
|
Cash from
Financing Activities |
- |
218.4 |
56.9 |
-540.0 |
-444.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
- |
-14.0 |
-10.4 |
0.5 |
5.8 |
|
Net Change in
Cash |
- |
-584.5 |
10.2 |
226.1 |
464.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
- |
1,224.1 |
1,234.8 |
957.0 |
402.4 |
|
Net Cash - Ending Balance |
- |
639.6 |
1,245.0 |
1,183.1 |
867.0 |
|
Cash Interest Paid |
- |
88.3 |
79.5 |
70.8 |
90.1 |
|
Cash Taxes Paid |
- |
383.7 |
621.5 |
366.2 |
459.0 |
Annual Income Statement
|
Financials in:
USD (mil) |
|
|
Except for share
items (millions) and per share items (actual units) |
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Product Revenues |
- |
- |
- |
- |
12,611.5 |
|
Merchandise Revenues |
- |
- |
- |
- |
529.9 |
|
Other Revenue |
- |
- |
- |
- |
83.5 |
|
Sales Revenue |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
- |
|
Total Revenue |
20,644.3 |
20,467.3 |
16,839.7 |
12,160.0 |
13,224.9 |
|
|
|
|
|
|
|
|
Cost Manufacturing |
- |
- |
- |
- |
10,624.9 |
|
Merchandise Cost |
- |
- |
- |
- |
529.5 |
|
Cost of Other Sales |
- |
- |
- |
- |
21.3 |
|
Costs of Goods & Services Sold |
17,708.7 |
16,784.0 |
13,381.3 |
9,606.0 |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-335.1 |
-366.0 |
- |
|
Gain on Foreign Currency Translation |
- |
- |
-16.2 |
-22.9 |
- |
|
Gain on Disposal of PPE |
- |
- |
-4.0 |
-0.4 |
- |
|
Gains on Sale of Intangible Assets |
- |
- |
- |
-0.5 |
- |
|
Other Operating Income |
- |
- |
-30.0 |
-22.9 |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
339.4 |
374.2 |
- |
|
Loss on Foreign Currency Translation |
- |
- |
14.2 |
16.4 |
- |
|
Loss on Disposal of PPE |
- |
- |
10.4 |
21.3 |
- |
|
Loss on Disposal of Intangibless |
- |
- |
0.6 |
0.9 |
- |
|
Impairment Loss on PPE |
- |
- |
17.1 |
44.0 |
- |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
13.3 |
- |
|
Other Operating Expense |
- |
- |
19.6 |
55.1 |
- |
|
Salaries & Wages |
234.4 |
228.4 |
190.5 |
149.0 |
157.9 |
|
Retirement Allowance |
16.6 |
13.1 |
7.9 |
10.6 |
14.2 |
|
Employee Benefits |
61.1 |
51.7 |
42.5 |
35.0 |
34.6 |
|
Travel Expense |
26.3 |
20.8 |
19.4 |
14.9 |
17.3 |
|
Utility Expense |
18.4 |
16.5 |
13.5 |
12.1 |
18.4 |
|
Packaging Expense |
4.2 |
4.1 |
3.5 |
3.0 |
2.5 |
|
Usage Fee |
81.6 |
84.8 |
59.7 |
36.0 |
53.0 |
|
Commission Paid |
165.7 |
161.2 |
150.2 |
108.0 |
96.7 |
|
Depreciation |
48.8 |
43.7 |
36.0 |
31.6 |
31.8 |
|
Advertising Expense |
18.0 |
16.6 |
9.9 |
8.2 |
9.9 |
|
Shipping & Handling Expense |
332.4 |
300.2 |
295.3 |
242.0 |
289.0 |
|
Education & Training Expense |
10.9 |
10.2 |
8.8 |
6.3 |
6.7 |
|
Amort. of Intangibless |
11.4 |
9.8 |
10.7 |
7.3 |
12.8 |
|
Other Sales and Administrative Expens |
- |
- |
- |
- |
71.8 |
|
Sample Expense |
11.8 |
7.6 |
6.8 |
5.4 |
5.8 |
|
Research & Development Expense |
- |
- |
- |
- |
25.5 |
|
Expenses-Stock Compensation |
- |
- |
- |
- |
0.9 |
|
Other Selling & Administrative Expense |
198.6 |
170.5 |
147.7 |
128.3 |
- |
|
Total Operating Expense |
18,949.0 |
17,923.1 |
14,399.7 |
10,516.5 |
12,024.5 |
|
|
|
|
|
|
|
|
Interest Income |
26.7 |
24.7 |
23.1 |
14.9 |
5.4 |
|
Dividend Income |
0.1 |
0.1 |
0.2 |
0.4 |
0.1 |
|
Gain on Foreign Currency Transaction |
267.4 |
348.0 |
51.8 |
61.5 |
388.8 |
|
Gain on Foreign Currency Transaction-Fin |
36.6 |
84.0 |
- |
- |
- |
|
Gain on Foreign Currency Translation |
29.8 |
19.5 |
17.6 |
39.6 |
44.3 |
|
Gain on Foreign Currency Translation-Fin |
14.0 |
26.0 |
- |
- |
- |
|
Gain on Disposal of Derivatives to Tradt |
- |
- |
8.6 |
- |
- |
|
Gain on Sale of Risk Avers Derivatives |
- |
- |
2.1 |
24.7 |
- |
|
Gain on Valuatio of Derivatives to Tradt |
- |
- |
1.9 |
- |
- |
|
Other Finance Income |
- |
- |
1.9 |
3.4 |
- |
|
Recovery-Loan Loss Reserve |
- |
- |
- |
- |
6.1 |
|
Gain on Disposal of PPE |
4.4 |
2.1 |
- |
- |
2.6 |
|
Gain on Disposal of Intangibless |
0.1 |
- |
- |
- |
0.0 |
|
Recovery-Negative Goodwill Amortization |
- |
- |
- |
- |
35.6 |
|
Loss-Reduction of Intangible Asset |
- |
- |
- |
- |
-0.1 |
|
Gain on Sale of Derivative for Trading |
9.1 |
32.9 |
- |
- |
66.7 |
|
Gain on Disposal of Derivative for Trad |
- |
8.0 |
- |
- |
48.7 |
|
Gain on Valts of Derivatives for Sale |
2.1 |
- |
11.6 |
0.3 |
- |
|
Gain on Insurance Settlement |
- |
- |
- |
- |
52.5 |
|
Other Non-Operating Income |
28.4 |
39.1 |
- |
- |
27.9 |
|
Interest Expense |
-64.8 |
-60.6 |
-53.0 |
-81.4 |
-88.6 |
|
Loss on Foreign Currency Transaction |
-258.0 |
-360.1 |
-64.1 |
-66.6 |
-414.9 |
|
Loss on Foreign Currency Transaction-Fin |
-59.2 |
-68.5 |
- |
- |
- |
|
Loss on Foreign Currency Translation |
-27.2 |
-21.0 |
-14.5 |
-1.5 |
-195.9 |
|
Loss on Foreign Currency Translation-Fin |
-8.0 |
-8.1 |
- |
- |
- |
|
Loss on Sale of Derivative for Trading |
-4.6 |
-59.5 |
-25.3 |
- |
- |
|
Loss - Valuation of Derivatives to Tradt |
- |
- |
- |
-17.3 |
- |
|
Loss-Valuat of Risk Avers Derivatives |
- |
- |
-1.0 |
-18.1 |
- |
|
Other Finance Expense |
- |
0.0 |
-0.4 |
0.0 |
- |
|
L-Disposal of Investment Assets |
- |
- |
- |
- |
0.0 |
|
Other Amortization |
- |
- |
- |
- |
0.0 |
|
L-Disposal of Accounts Receivables |
- |
- |
- |
- |
-33.2 |
|
Loss-Disposal of Investment Securities |
- |
- |
- |
- |
0.0 |
|
Impairment Loss on PPE |
-1.9 |
- |
- |
- |
- |
|
Loss on Disposal of PPE |
-4.9 |
-6.0 |
- |
- |
-7.4 |
|
Loss on Disposal of Intangibless |
-0.9 |
0.0 |
- |
- |
-0.8 |
|
Donations Paid |
-21.6 |
-22.0 |
- |
- |
-6.5 |
|
Loss-Valt of Derivatives |
- |
- |
- |
- |
-20.4 |
|
Other Non-Operating Expense |
-5.2 |
-12.4 |
-11.2 |
-8.8 |
-34.8 |
|
Gain/Loss under Equity Method |
11.0 |
13.8 |
48.0 |
- |
3.5 |
|
Loss under Equity Method |
- |
- |
- |
-15.5 |
-3.7 |
|
Net Income Before Taxes |
1,668.8 |
2,524.3 |
2,437.5 |
1,579.0 |
1,076.3 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
332.0 |
565.9 |
535.1 |
347.2 |
242.4 |
|
Net Income After Taxes |
1,336.8 |
1,958.4 |
1,902.4 |
1,231.8 |
833.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-10.5 |
-28.7 |
-35.9 |
-24.0 |
15.1 |
|
Net Income Before Extra. Items |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.8 |
848.9 |
|
G/L-Discontinuing Operation |
- |
- |
- |
-25.9 |
62.1 |
|
Common&Preferred Discon. Operation |
- |
- |
- |
25.5 |
- |
|
Extraordinary Item |
- |
- |
- |
0.0 |
- |
|
Net Income |
1,326.3 |
1,929.7 |
1,866.5 |
1,207.4 |
911.0 |
|
|
|
|
|
|
|
|
Preferred Dividends |
-27.4 |
-27.9 |
-26.7 |
-21.2 |
-94.9 |
|
Participated Preferred Dividend |
-110.4 |
-172.5 |
-167.1 |
-104.2 |
- |
|
Income Available to Com Excl ExtraOrd |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.3 |
754.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
816.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
65.9 |
65.9 |
65.9 |
68.1 |
65.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
18.03 |
26.24 |
25.38 |
15.89 |
11.46 |
|
Basic EPS Including ExtraOrdinary Items |
18.03 |
26.24 |
25.38 |
15.88 |
12.40 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
1,188.5 |
1,729.4 |
1,672.7 |
1,082.0 |
816.0 |
|
Diluted Weighted Average Share |
65.9 |
65.9 |
65.9 |
68.1 |
65.8 |
|
Diluted EPS Excluding ExtraOrd Items |
18.03 |
26.24 |
25.38 |
15.89 |
11.46 |
|
Diluted EPS Including ExtraOrd Items |
18.03 |
26.24 |
25.38 |
15.88 |
12.40 |
|
DPS-Ordinary Shares |
3.55 |
3.61 |
3.46 |
2.74 |
2.58 |
|
Gross Dividends - Common Stock |
234.0 |
238.0 |
228.0 |
180.7 |
170.0 |
|
Normalized Income Before Taxes |
1,670.2 |
2,528.2 |
2,444.5 |
1,600.3 |
1,115.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
332.3 |
566.8 |
536.6 |
351.9 |
251.2 |
|
Normalized Income After Taxes |
1,337.9 |
1,961.4 |
1,907.9 |
1,248.4 |
863.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1,189.5 |
1,732.4 |
1,678.2 |
1,098.9 |
784.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
18.05 |
26.28 |
25.46 |
16.13 |
11.92 |
|
Diluted Normalized EPS |
18.05 |
26.28 |
25.46 |
16.13 |
11.92 |
|
Interest Expense, Supplemental |
64.8 |
60.6 |
53.0 |
81.4 |
88.6 |
|
Interest Capitalized, Supplemental |
-26.9 |
-20.4 |
-16.1 |
-7.3 |
- |
|
Rental Expense, Supplemental |
- |
- |
- |
- |
0.0 |
|
Advertising Expense, Supplemental |
18.0 |
16.6 |
9.9 |
8.2 |
9.9 |
|
R&D Expense, Supplemental |
- |
- |
- |
- |
25.5 |
|
Depreciation, Supplemental |
759.9 |
669.6 |
565.8 |
444.9 |
514.9 |
|
Amort of Intangibles, Suppleme |
16.9 |
14.2 |
15.5 |
13.3 |
22.3 |
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 |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Loans |
- |
- |
0.1 |
- |
- |
|
ST Invmt Assets |
- |
- |
- |
- |
118.3 |
|
Cash & Cash Equivalents |
675.9 |
1,197.4 |
1,205.4 |
950.3 |
408.3 |
|
Other Current Fincl Instrm |
2.2 |
- |
1.9 |
0.3 |
- |
|
Short-Term Guarantee Deposit |
- |
- |
- |
- |
0.0 |
|
Deferred Taxes |
- |
- |
- |
- |
36.9 |
|
Trade Receivable, Net |
2,945.6 |
2,710.3 |
2,235.7 |
1,973.7 |
1,262.6 |
|
Allow. for DA for Trade Receivable |
-9.5 |
-4.4 |
-6.4 |
-10.8 |
-30.7 |
|
Prepaid Income Taxes |
6.9 |
15.5 |
3.0 |
3.5 |
0.5 |
|
Advance Payments |
45.5 |
35.0 |
23.7 |
34.6 |
19.0 |
|
Prepaid Expense |
20.0 |
19.0 |
23.1 |
18.7 |
23.7 |
|
Prepaid Value Added Taxes |
65.1 |
48.7 |
58.7 |
43.2 |
- |
|
Other in Other Current Assets |
48.2 |
12.4 |
6.9 |
4.1 |
- |
|
Other Quick Assets |
- |
- |
- |
- |
8.6 |
|
Merchandises |
81.3 |
77.5 |
53.4 |
39.4 |
93.1 |
|
Allow. for Loss on Valt of Merch |
- |
- |
-0.1 |
-0.3 |
- |
|
Finished Goods |
1,047.1 |
1,000.7 |
898.5 |
607.5 |
692.1 |
|
Allowance for Loss on Valuation of Finis |
- |
- |
-6.9 |
-5.0 |
- |
|
Semi-finished Goods |
280.2 |
275.5 |
236.9 |
159.1 |
154.7 |
|
Work in Progress |
0.3 |
3.0 |
0.9 |
0.5 |
0.5 |
|
Raw Materials |
714.2 |
549.8 |
503.6 |
393.8 |
346.1 |
|
Allowance for Loss on Valuation of Raw M |
- |
- |
-0.9 |
-0.6 |
- |
|
Supplies |
73.6 |
62.2 |
53.2 |
46.4 |
43.2 |
|
Goods in Transit |
267.5 |
180.0 |
184.4 |
131.2 |
137.3 |
|
Account Receivable |
92.9 |
96.8 |
53.5 |
52.5 |
79.2 |
|
Current Fincl Deposits |
602.6 |
10.8 |
4.9 |
87.0 |
- |
|
Guarantee Deposits, Current Assets |
21.9 |
6.7 |
6.4 |
0.1 |
- |
|
Accrued Income |
7.2 |
1.9 |
3.9 |
2.8 |
2.4 |
|
Total Current Assets |
6,988.9 |
6,298.8 |
5,543.8 |
4,531.8 |
3,395.9 |
|
|
|
|
|
|
|
|
LT Financial Assets |
- |
- |
- |
- |
0.0 |
|
Derivatives |
- |
- |
0.0 |
15.5 |
- |
|
Securities Available for Sale |
20.5 |
5.2 |
3.7 |
3.6 |
- |
|
LT Trade Receivable |
- |
- |
- |
0.0 |
0.2 |
|
Allowance for Doubtful Accounts for LT T |
- |
- |
- |
0.0 |
- |
|
LT Trade Receivable, Net |
- |
- |
- |
- |
0.2 |
|
Loans |
0.1 |
0.6 |
0.6 |
0.2 |
0.5 |
|
Affiliates Stock |
379.8 |
285.1 |
188.2 |
188.5 |
98.7 |
|
Investment Securities |
- |
- |
- |
- |
1.7 |
|
Non-Current Fincl Deposits |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Guarantee Deposits, Non-Current Assets |
19.3 |
28.6 |
17.6 |
17.0 |
26.8 |
|
Other LT Assets |
- |
- |
- |
- |
47.5 |
|
Non-Current Prepaid Expense |
38.4 |
39.9 |
40.4 |
32.2 |
37.4 |
|
Other Invmt Assets |
0.0 |
0.0 |
0.0 |
0.3 |
- |
|
Futures-Debit |
- |
- |
- |
- |
41.2 |
|
Deferred Income Tax, Debit |
- |
- |
- |
- |
22.1 |
|
Buildings-Net |
- |
- |
- |
- |
913.9 |
|
Lands |
667.9 |
525.1 |
390.7 |
371.1 |
407.5 |
|
Buildings |
1,857.7 |
1,532.5 |
1,300.0 |
1,093.1 |
- |
|
Buildings-Depreciation |
-312.8 |
-253.6 |
-228.1 |
-189.4 |
- |
|
Buildings-Reduction |
0.0 |
0.0 |
-3.7 |
-5.9 |
- |
|
Structures-Net |
- |
- |
- |
- |
303.1 |
|
Structures |
763.4 |
575.9 |
556.9 |
503.8 |
- |
|
Structures-Depreciation |
-307.5 |
-261.7 |
-245.1 |
-210.4 |
- |
|
Structures-Reduction |
-0.3 |
0.0 |
0.0 |
0.0 |
- |
|
Machinery & Equipment-Net |
- |
- |
- |
- |
1,922.6 |
|
Machineries & Equipments |
8,270.5 |
6,545.2 |
6,104.6 |
5,113.9 |
- |
|
Machineries & Equipments-Depreciation |
-4,975.9 |
-4,126.2 |
-3,852.4 |
-3,195.9 |
- |
|
Machineries & Equipments-Reduction |
-8.5 |
-8.3 |
-23.1 |
-9.2 |
- |
|
Vehicles & Transportation Equipment-Net |
- |
- |
- |
- |
11.0 |
|
Vehicles |
36.5 |
35.8 |
30.3 |
31.3 |
- |
|
Vehicles-Depreciation |
-26.8 |
-24.6 |
-22.9 |
-21.4 |
- |
|
Tools & Equipments-Net |
- |
- |
- |
- |
163.2 |
|
Tools & Equipments |
534.8 |
410.9 |
329.8 |
268.5 |
- |
|
Tools & Equipments-Depreciation |
-296.9 |
-232.0 |
-198.4 |
-164.3 |
- |
|
Tools & Equipments-Reduction |
-3.8 |
-3.5 |
-3.6 |
-3.5 |
- |
|
Fixtures-Net |
- |
- |
- |
- |
50.7 |
|
Fixtures |
216.5 |
173.9 |
158.6 |
137.1 |
- |
|
Fixtures-Depreciation |
-132.5 |
-115.6 |
-107.5 |
-96.9 |
- |
|
Fixtures-Reduction |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
- |
|
Other Tangible Assets-Net |
- |
- |
- |
- |
0.0 |
|
Other Property Plant & Equipment |
185.4 |
161.6 |
83.4 |
15.4 |
- |
|
Other Tangibles-Depreciation |
-102.6 |
-61.5 |
-29.1 |
-6.3 |
- |
|
Construction in Progress |
1,289.4 |
1,294.0 |
815.5 |
444.5 |
281.0 |
|
Construction in Progress-Reduction |
-32.6 |
-30.2 |
-30.7 |
-29.9 |
- |
|
Machines in Transit |
206.5 |
265.4 |
148.9 |
55.3 |
64.0 |
|
Usage Rights on Facility |
- |
- |
- |
- |
7.0 |
|
Development Costs |
39.8 |
29.5 |
22.7 |
20.9 |
37.1 |
|
Industrial Property Rights |
73.7 |
53.7 |
49.1 |
40.5 |
25.7 |
|
Goodwill |
31.3 |
29.0 |
29.4 |
28.7 |
27.3 |
|
Membership Rights |
48.5 |
44.4 |
43.4 |
40.1 |
- |
|
Other Intangibless |
26.0 |
23.2 |
14.1 |
9.0 |
29.7 |
|
Negative Goodwill |
- |
- |
- |
- |
-186.6 |
|
Non-Current Deferred Income Taxes Assets |
53.9 |
28.0 |
39.9 |
14.0 |
- |
|
Total Assets |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
7,729.4 |
|
|
|
|
|
|
|
|
Current Trade Payable |
1,427.6 |
1,304.8 |
1,147.7 |
941.2 |
536.8 |
|
Other Current Payable |
718.5 |
824.8 |
723.8 |
583.2 |
448.6 |
|
Dividend Payable |
1.0 |
1.0 |
0.0 |
0.1 |
0.4 |
|
Advances Received |
35.1 |
18.9 |
24.8 |
27.8 |
22.4 |
|
Unearned Income |
11.5 |
10.8 |
9.3 |
8.6 |
8.6 |
|
VAT Withheld |
- |
- |
1.9 |
- |
- |
|
Withheld |
42.2 |
39.1 |
30.9 |
35.1 |
39.1 |
|
Income Taxes Payable |
134.0 |
251.3 |
361.0 |
172.0 |
284.1 |
|
Accrued Expenses |
- |
- |
- |
- |
59.8 |
|
Other Current Liabilities |
53.3 |
48.2 |
19.0 |
8.7 |
0.0 |
|
Current Borrowings |
1,562.9 |
1,260.3 |
- |
- |
647.9 |
|
Discount Notes |
- |
- |
759.8 |
815.3 |
- |
|
Bank Borrowings |
- |
- |
350.3 |
295.2 |
- |
|
Current Portion of Bonds |
- |
130.1 |
122.9 |
135.9 |
549.6 |
|
Current Portion of Long-Term Borrowings |
77.8 |
203.1 |
193.3 |
325.9 |
- |
|
Current Fincl Lease Liabilities |
2.0 |
1.7 |
1.6 |
1.4 |
- |
|
Liabilities Reserve |
1.8 |
6.3 |
4.4 |
4.5 |
- |
|
Other Current Fincl Liabilities |
0.1 |
0.5 |
18.1 |
0.0 |
- |
|
Total Current Liabilities |
4,067.9 |
4,100.6 |
3,769.0 |
3,355.0 |
2,597.2 |
|
|
|
|
|
|
|
|
Non-Current Borrowings |
557.0 |
334.3 |
285.3 |
252.0 |
693.2 |
|
Bonds |
560.8 |
259.3 |
131.8 |
236.6 |
286.7 |
|
Capital Leased Liabilities, LD |
2.9 |
4.5 |
6.4 |
7.7 |
- |
|
Total Long Term Debt |
1,120.7 |
598.2 |
423.4 |
496.3 |
979.9 |
|
|
|
|
|
|
|
|
Non-Current Derivatives Liabilities |
- |
0.1 |
1.4 |
30.1 |
28.9 |
|
Other Non-Current Payable |
14.1 |
35.9 |
42.1 |
25.3 |
- |
|
LT Trade Account Payable |
- |
- |
- |
- |
0.0 |
|
Security Deposits |
- |
- |
- |
- |
4.7 |
|
Deferred Income Taxes, LT Liabilities |
141.1 |
52.4 |
12.6 |
0.0 |
30.5 |
|
Reserve for Group Severance and Retireme |
- |
- |
- |
- |
76.8 |
|
Provisions for Retirement and Severance |
99.3 |
52.8 |
7.2 |
46.7 |
- |
|
Other LT Liabilities |
- |
- |
- |
0.2 |
0.0 |
|
Non-Current Prov.s |
10.6 |
2.0 |
- |
- |
- |
|
Minority Interests |
127.6 |
133.9 |
123.7 |
100.9 |
129.4 |
|
Total Liabilities |
5,581.3 |
4,975.8 |
4,379.2 |
4,054.5 |
3,847.3 |
|
|
|
|
|
|
|
|
Common Stock |
310.7 |
287.6 |
292.0 |
284.6 |
298.7 |
|
Preferred Stock |
35.8 |
33.1 |
33.6 |
32.8 |
34.4 |
|
Voluntary Reserve |
- |
- |
- |
- |
1,555.1 |
|
Legal Reserve |
- |
- |
- |
- |
58.3 |
|
Other Capital Surplus |
- |
- |
- |
- |
207.9 |
|
Paid-in Capital in Excess of Par |
- |
- |
- |
- |
835.7 |
|
Capital Surplus |
1,085.7 |
1,005.0 |
1,020.2 |
994.2 |
- |
|
Retained Earning Carried Forward |
- |
- |
- |
- |
797.6 |
|
Other Capital Adj. |
- |
- |
- |
- |
0.3 |
|
Capital Change, Equity Method |
- |
- |
- |
- |
12.5 |
|
Capital Change, Equity Method (Loss) |
- |
- |
- |
- |
-0.8 |
|
L-Derivatives Valuation |
- |
- |
- |
- |
-12.7 |
|
Overseas Business Trans. Debit/Credit |
- |
- |
- |
- |
107.0 |
|
Treasury Stock |
-14.5 |
-13.4 |
-13.6 |
-13.3 |
-11.9 |
|
Consolidated Equity Transaction |
-0.2 |
-0.2 |
-0.2 |
0.2 |
- |
|
Loss on Capital Reduction |
- |
- |
- |
-398.7 |
- |
|
Appropriated Retained Earnings for Statu |
- |
- |
135.2 |
84.5 |
- |
|
Voluntary Reserve(1) |
- |
- |
3,073.9 |
2,343.7 |
- |
|
Retained Earnings |
8,631.6 |
6,990.7 |
2,301.5 |
1,724.9 |
- |
|
Accumulated Other Comprehensive Income |
-81.6 |
-9.9 |
-54.6 |
-64.0 |
- |
|
Total Equity |
9,967.5 |
8,293.0 |
6,787.8 |
4,988.7 |
3,882.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
15,548.7 |
13,268.7 |
11,167.0 |
9,043.2 |
7,729.4 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
65.9 |
65.9 |
65.9 |
65.9 |
65.9 |
|
Total Common Shares Outstanding |
65.9 |
65.9 |
65.9 |
65.9 |
65.9 |
|
T/S-Ordinary Shares |
0.4 |
0.4 |
0.4 |
0.4 |
0.3 |
|
S/O-Preference Shares |
7.6 |
7.6 |
7.6 |
7.6 |
7.6 |
|
Total Preferred Shares Outstanding |
7.6 |
7.6 |
7.6 |
7.6 |
7.6 |
|
T/S-Preference Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
46.6 |
29.6 |
34.2 |
36.3 |
31.0 |
|
Full-Time Employees |
- |
10,722 |
9,304 |
8,194 |
10,698 |
|
Number of Common Shareholders |
- |
- |
90,994 |
- |
46,173 |
|
Long-Term Debts Due in 1 Year |
- |
- |
316.2 |
- |
550.1 |
|
Long-Term Debts Due in 2 Years |
- |
- |
- |
- |
404.4 |
|
Long-Term Debts Due in 3 Years |
- |
- |
- |
- |
184.2 |
|
Long-Term Debts Due in 4 Years |
- |
- |
- |
- |
72.8 |
|
Long-Term Debts Due Remaining |
- |
- |
- |
- |
70.8 |
|
Total Long Term Debt, Supplemental |
- |
- |
316.2 |
- |
1,282.3 |
|
Capital Lease Payments Due within 1 Year |
2.0 |
1.7 |
1.6 |
1.4 |
- |
|
Capital Lease Payments Due in Year 5 |
2.9 |
4.5 |
6.4 |
7.7 |
- |
|
Total Capital Leases, Supplemental |
4.9 |
6.3 |
8.0 |
9.2 |
- |
Annual Cash Flows
Financials in: USD (mil)
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
1,668.8 |
2,524.3 |
2,437.5 |
1,544.5 |
895.9 |
|
Depreciation |
758.3 |
668.8 |
565.8 |
444.9 |
514.9 |
|
Amort. of Intangibless |
16.9 |
14.2 |
15.5 |
13.3 |
22.3 |
|
Stock Compensation Expense |
- |
- |
- |
- |
1.2 |
|
Payment for Retirement Allow., ONCI |
50.0 |
39.7 |
34.2 |
35.4 |
59.3 |
|
Provision-Doubtful Account |
- |
- |
- |
- |
1.3 |
|
Cash-Interest Paid |
-88.3 |
-79.5 |
-70.8 |
-90.1 |
- |
|
Cash-Tax Paid |
-383.7 |
-621.5 |
-366.2 |
-459.0 |
- |
|
Amort-Otr Bad Debt E |
- |
- |
- |
- |
0.0 |
|
Finance Income |
-82.8 |
-111.1 |
-66.3 |
-85.9 |
- |
|
Finance Expense |
103.2 |
149.3 |
97.4 |
91.2 |
- |
|
G/L on Foreign Currency Transaction |
-54.1 |
7.6 |
-16.8 |
-118.0 |
- |
|
L-For Currency Translatn |
- |
- |
- |
- |
226.8 |
|
L-Inv.Asset Disposal |
- |
- |
- |
- |
0.2 |
|
Impmt Loss on Tangibles |
1.9 |
- |
- |
- |
0.0 |
|
L-Tangible Asst Disp |
- |
- |
- |
- |
13.0 |
|
Loss-Disposal of Trade Receivable |
- |
- |
- |
- |
36.0 |
|
G-Tangible Asst Disp |
-4.4 |
-2.1 |
-4.0 |
-0.6 |
-6.5 |
|
Other Non-Operating Expense |
- |
- |
- |
- |
12.0 |
|
Accrued Interest Expense |
- |
- |
- |
- |
1.8 |
|
L-LT Investment Secs. Disposal |
- |
- |
- |
- |
0.0 |
|
Loss under Equity Method |
- |
- |
- |
- |
5.5 |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
- |
0.2 |
|
L-Tang Asset Disp |
4.9 |
6.0 |
10.4 |
26.6 |
- |
|
Gain on Sale of Intangibless |
-0.1 |
- |
0.0 |
-0.5 |
-0.1 |
|
L-Intang Asset Disp |
0.9 |
0.0 |
0.6 |
0.9 |
1.0 |
|
Other Expense |
12.0 |
-9.2 |
-35.3 |
90.6 |
- |
|
L-Derivatives Valuation |
- |
- |
- |
- |
23.1 |
|
Gain on Foreign Exchange Translation |
- |
- |
- |
- |
-51.3 |
|
Cash-Interest Received |
22.8 |
26.3 |
22.1 |
18.8 |
-0.1 |
|
Rvrs-Bad Debt Expenses |
- |
- |
- |
- |
-6.1 |
|
Other Non-Operating Income |
- |
- |
- |
- |
-0.8 |
|
Gain under Equity Method |
- |
- |
- |
- |
-6.1 |
|
Recovery of Negative Goodwill |
- |
- |
- |
- |
-35.6 |
|
Gain-Derivatives Valuation |
- |
- |
- |
- |
-59.4 |
|
Gain-Derivatives Transaction |
- |
- |
- |
- |
-57.5 |
|
Inventory |
-196.0 |
-248.8 |
-461.8 |
47.2 |
-255.8 |
|
Trade Receivables |
-106.4 |
-481.7 |
-134.9 |
-504.6 |
-33.1 |
|
Other Receivables |
-18.9 |
-32.9 |
6.6 |
-12.4 |
15.4 |
|
Accrued Income |
- |
- |
- |
- |
0.6 |
|
Advance Payments |
- |
- |
- |
- |
8.2 |
|
Prepaid Expenses |
- |
- |
- |
- |
-4.9 |
|
Prepaid Income Taxes |
- |
- |
- |
- |
1.9 |
|
Other Quick Assets |
- |
- |
- |
- |
-0.9 |
|
Trade Payable |
82.4 |
155.7 |
108.1 |
569.3 |
-445.4 |
|
Other Payable |
-143.2 |
95.4 |
138.4 |
143.5 |
-53.9 |
|
Advances Received |
- |
- |
- |
- |
14.8 |
|
Deposits Withheld |
- |
- |
- |
- |
-13.1 |
|
Derivative Transaction |
4.5 |
-24.6 |
-16.3 |
9.3 |
- |
|
Accrued Expenses |
- |
- |
- |
- |
20.2 |
|
Accrued Income Taxes |
- |
- |
- |
- |
98.9 |
|
Unearned Income |
- |
- |
- |
- |
2.5 |
|
Cash-Dividend Income |
1.4 |
1.7 |
1.0 |
1.1 |
- |
|
Insurance Settlement Proceeds |
- |
- |
- |
- |
69.8 |
|
Payment-Retirement Bonus |
- |
- |
- |
- |
-61.2 |
|
Reserve-Severance & Retirement Benefit |
- |
- |
- |
- |
0.6 |
|
Nation Pension Fund |
- |
- |
- |
- |
0.7 |
|
Retirement Insurance |
- |
- |
- |
- |
-1.1 |
|
Retiremt Allow Paymt |
-66.6 |
-41.3 |
-96.7 |
-44.1 |
- |
|
Other Cash Flow from Operating Activity |
-16.6 |
-14.2 |
-0.3 |
10.9 |
- |
|
Deferred Taxes-Current Asset |
- |
- |
- |
- |
-35.6 |
|
Deferred Income Tax Debit |
- |
- |
- |
- |
-7.7 |
|
Deferred Income Tax Credit, A/L |
- |
- |
- |
- |
-17.4 |
|
Cash from Operating Activities |
1,566.9 |
2,022.2 |
2,168.3 |
1,732.3 |
894.5 |
|
|
|
|
|
|
|
|
Dec-LT Loans |
- |
- |
- |
- |
0.0 |
|
Decrease in Other Receivables |
158.3 |
93.5 |
247.0 |
118.0 |
- |
|
Decs in Other Non-Current Receivables |
0.3 |
11.4 |
6.8 |
2.7 |
- |
|
Decrease-Other Non-Current Assets |
- |
- |
- |
0.2 |
- |
|
Decrease-Investment Securities |
- |
- |
- |
- |
0.1 |
|
Disposal-ST Investment Assets |
- |
- |
- |
- |
121.8 |
|
Decreased Other LT Financial Assets |
- |
0.0 |
0.5 |
5.7 |
- |
|
Dec-LT Finl Asset |
- |
- |
- |
- |
0.1 |
|
Decrease-Derivatives |
- |
- |
- |
- |
58.5 |
|
Dec-Guarantee Deposits |
- |
- |
- |
- |
29.3 |
|
Decrease-Tangible Assets |
8.2 |
4.4 |
4.4 |
29.2 |
- |
|
Disp-Land |
- |
- |
- |
- |
6.9 |
|
Disposal of Building |
- |
- |
- |
- |
0.8 |
|
Disp-Structure |
- |
- |
- |
- |
0.0 |
|
Disp-Machinery |
- |
- |
- |
- |
14.7 |
|
Disp-Vehicles |
- |
- |
- |
- |
0.6 |
|
Disp-Tools/Equipment |
- |
- |
- |
- |
3.4 |
|
Disp-Fixtures |
- |
- |
- |
- |
0.2 |
|
Sale of Intangibless |
1.8 |
- |
0.2 |
0.6 |
0.5 |
|
Increase-ST Investment Assets |
- |
- |
- |
- |
-134.8 |
|
Increase in Other Receivables |
-721.2 |
-99.8 |
-164.3 |
-83.7 |
- |
|
Purchase of Other LT Finacial Instrm |
-14.1 |
-1.6 |
-0.5 |
-3.1 |
- |
|
Incs in Other Non-Current Receivables |
- |
-22.8 |
-11.3 |
-3.5 |
- |
|
Increase-ST Guarantee Deposit |
- |
- |
- |
- |
-0.7 |
|
Decrease-Other LT Assets |
- |
- |
- |
- |
21.2 |
|
Decrease-Other LT Assets |
- |
- |
- |
- |
-24.0 |
|
Increase-Investment Securities |
- |
- |
- |
- |
-0.5 |
|
Cash Flow from Subsidiaries |
- |
- |
-53.6 |
- |
-0.8 |
|
Purchase of Investment in Affiliates & J |
-67.1 |
-37.4 |
-12.3 |
-15.8 |
- |
|
Inc-Guarantee Dep |
- |
- |
- |
- |
-21.9 |
|
Increase-Other Non-Current Assets |
- |
- |
- |
-0.1 |
- |
|
Inc-LT Loans |
- |
- |
- |
- |
-0.1 |
|
Purchase of Tangibles |
-1,692.7 |
-1,981.6 |
-1,398.6 |
-861.3 |
- |
|
Acq-Building |
- |
- |
- |
- |
-0.2 |
|
Acq-Structure |
- |
- |
- |
- |
-0.3 |
|
Acq-Machinery |
- |
- |
- |
- |
-9.0 |
|
Acq-Transportation |
- |
- |
- |
- |
-0.8 |
|
Acq-Tools/Equipmt |
- |
- |
- |
- |
-13.2 |
|
Acq-Fixtures |
- |
- |
- |
- |
-4.2 |
|
Acq-Constructn Prog |
- |
- |
- |
- |
-648.7 |
|
Acq-Mach. in Transit |
- |
- |
- |
- |
-146.3 |
|
Purchase of Intangibless |
-29.4 |
-24.5 |
-21.0 |
-18.4 |
-38.7 |
|
Cash from Investing Activities |
-2,355.8 |
-2,058.4 |
-1,402.7 |
-829.6 |
-786.2 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
- |
- |
- |
- |
296.5 |
|
Increase in Borrowings |
899.8 |
1,242.3 |
200.4 |
111.5 |
- |
|
Inc-Bonds |
- |
- |
- |
- |
131.4 |
|
Inc-LT Borrowing |
- |
- |
- |
- |
106.4 |
|
Proceeds from Issuance of Bonds |
- |
- |
- |
234.0 |
- |
|
Dec-ST Borrowings |
- |
- |
- |
- |
-17.8 |
|
Dividend Paid |
-280.6 |
-287.6 |
-242.1 |
-165.0 |
-151.7 |
|
Dec-Curr LT Liabs |
- |
- |
- |
- |
-578.6 |
|
Dec-LT Borrowings |
- |
- |
- |
- |
-4.5 |
|
Increase-Security Deposit Received |
- |
- |
- |
- |
0.2 |
|
Acq-Treasury Stock |
- |
- |
0.0 |
-1.8 |
- |
|
Disposal-Treasury Stock |
- |
- |
- |
- |
19.5 |
|
Decrease in Borrowings |
-400.8 |
-891.2 |
-501.3 |
-469.1 |
- |
|
Decrease-Security Deposit |
- |
- |
- |
- |
-0.6 |
|
Dec-Minority Interest |
- |
- |
- |
- |
-19.9 |
|
Consolid Scope Adj. |
- |
- |
- |
- |
0.0 |
|
Subsidiaries' Capital Increase |
- |
- |
3.0 |
5.4 |
- |
|
Decrease in Derivatives |
- |
-6.7 |
- |
22.3 |
- |
|
Cash Outflow-Business Spin-Off |
- |
- |
- |
-181.3 |
- |
|
Cash from Financing Activities |
218.4 |
56.9 |
-540.0 |
-444.0 |
-219.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-14.0 |
-10.4 |
0.5 |
5.8 |
41.5 |
|
Net Change in Cash |
-584.5 |
10.2 |
226.1 |
464.5 |
-69.3 |
|
|
|
|
|
|
|
|
Cash Interest Paid |
88.3 |
79.5 |
70.8 |
90.1 |
- |
|
Cash Taxes Paid |
383.7 |
621.5 |
366.2 |
459.0 |
- |
|
Cash and Cash Equivalents at Beginning |
1,224.1 |
1,234.8 |
957.0 |
402.4 |
536.6 |
|
Cash and Cash Equivalents at End |
639.6 |
1,245.0 |
1,183.1 |
867.0 |
467.3 |
Financial Health
|
Financials in:
USD (mil) |
|
|
Except for share
items (millions) and per share items (actual units) |
|
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|
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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.61.86 |
|
|
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.