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Earnings Release 4Q09. February, 2010. CONTENTS. Earnings Release 4Q09 Business Review & Outlook Management Target for FY10. As the management plans for 2010 have been made based on the company ’ s own business - PowerPoint PPT PresentationTRANSCRIPT
Earnings Release 4Q09
February, 2010
CONTENTS
1. Earnings Release 4Q09
2. Business Review & Outlook
3. Management Target for FY10
• As the management plans for 2010 have been made based on the company’s own business outlook, they may differ from the real result. So, the responsibility for investment on this material is imputed only to investors.
1. Earnings Release 4Q09
1,111.1 1,139.5
881.0
4
Business Results Q409
Sales Profitability
3Q 09 QoQ
4Q 09 YoY
4Q 08
O P 76.9 21% 60.8 25% 48.6
R P 34.5 17% 40.5 85% 21.9
N P 23.1 67% 38.6 98% 19.5
[ Won in billions ]
Domestic Exports
[ Won in billions ]
5
Business Results FY09
Sales Profitability
FY 09 YoY FY 08
O P 263.8 10% 240.2
R P 155.3 19% 191.2
N P 127.0 19% 157.5
4,261.1
3,727.8
[ Won in billions ] [ Won in billions ]
Domestic Exports
6
Financial Status
Balance Sheet Borrowings
FY 2009 FY 2008 Growth
자 산 3,118.6 2,743.8 374.8
당좌자산 658.3 524.6 133.7
재고자산 488.1 533.9 -45.8
투자자산 811.6 443.4 368.2
유형자산 987.7 989.6 -1.9
무형자산 61.1 138.1 -77.0
기타비유동자산 111.8 114.2 -2.4
부 채 1,149.1 1,138.0 11.1
유동부채 606.9 691.3 -84.4
비유동부채 542.2 446.7 95.5
자 본 1,969.5 1,605.8 363.7
LT Borrowings ST Borrowings
Cash & Equivalents
Total 494.4
Net 409.9684.4673.6
[ Won in billions ] [ Won in billions ]
2. Business Review & Outlook
8
Chemicals
Business Results Business Review & Outlook
Margin heavily contracted due to
soared oil price & feedstock costs.
Market demands is set to turn around with
stronger IT market condition going forward.
Anticipated margin improvement
thanks to a marginal price hike from January
($/bbl,ton) 4Q 09 3Q 09 4Q 08
Crude Oil 76 69 57
S M 1,097 1,083 677
A N 1,616 1,366 1,254
B D 1,443 1,393 1,093
ABS (Spot)
1,475 1,470 1,417
518.3468.2
358.2
O P
Margin
39.3
7.6%
16.6
3.5%
23.6
6.6%
[ Won in billions ]
9
E C M
Business Results Business Review & Outlook
Sales & OP increased YoY largely backed by volume increase with strong IT business condition YoY.
Polarizer sales fell QoQ by won appreciation. ─ 3Q09 : KRW 1,241/$ → 4Q09 : KRW 1,169/$
Volume increase and margin improvement led by increasing adoption of new semiconductor materials by customer.
Sales & margin is expected to grow on the back of stronger downstream industries such as semicon. & LCD.
Focus to gain M/S at captive market by timely delivery of differentiated products.
Polarizer Display Semi Others
321.8310.5
210.7
O P
Margin
30.2
9.4%
24.5
7.9%
22.8
10.7%
[ Won in billions ]
10
Fashion
Business Results Business Review & Outlook
In overall, sales increase and margin improvement thanks to a turnaround in consumer sentiment by expectations of economic rebound.
Casual - Revenue grew by 24% YoY mainly
with strong sales growth of Bean Pole
Sales of men’s wear increased by 9%
Women’s line - Physical growth of KUHO & Theory and
development of new brands contributed to continuing sales growth. (up 41% YoY)
S/S collection roll-out will make positive contribution on overall profitability from March.
Casual Men Women Others
247.1
342.9
290.9
O P
Margin
9.5
3.8%
21.4
6.2%
2.70.9%
[ Won in billions ]
11
Non-OP side
Analysis
233
Impairment loss
on R&D
Net-equity Gains[ Won in billions ]
Net-equity
Gains
Net interest expenses
6.9
Others25425.4
7.7
5.9
60.8
40.5
3Q 09 QoQ
4Q 09 YoY
4Q 08
Ace digitech -4 +24 20 +22 -2
Samsung Petro-chem
74 -1 73 + 80 -7
Others -27 +3 -24 +24 -48
Total 43 +26 69 +126 -57
O P R P
[ Won in billions ]
3. Management Target FY10
13
Management Target FY10
Sales by division Business Tasks
Chemicals ─ Accelerate sales of high-end products including PC-related and resins for auto ─ Reinforce capability of global business with expansion of manufacturing bases in overseas
Electronic Chemical Materials ─ Implement the early penetration into market with development of the new semicon. processing materials ─ Strengthen intensively film business through early ramp-up of new production for polarizer and development of high-end films for semi & display
Fashion ─ Enhance distribution competitiveness for men’s wear by diversifying retail channel. ─ Early stabilization of new brands ─ Develop new growth driver including outdoor
5,000.0
4,261.1
Chemicals ECM Fashion
CAPEX 231.0 125.0
※ Graph doesn’t include textiles sales
[ Won in billions ]
14Quarterly Results -APPENDIX`
구 분 ’07.4Q ’08.1Q ’08.2Q ’08.3Q ’08.4Q ’09.1Q ’09.2Q ’09.3Q ’09.4Q
매출액 8,785 8,285 9,804 10,378 8,811 9,238 10,866 11,112 11,395
케 미 칼 3,979 3,961 4,662 5,530 3,582 3,677 4,729 5,184 4,682
전자재료 1,669 1,558 2,289 2,197 2,107 2,707 3,064 3,218 3,105
패 션 2,914 2,596 2,561 2,411 2,909 2,704 2,812 2,471 3,429
기 타 223 170 292 240 213 150 261 239 179
영업이익 657 557 680 679 486 456 805 769 608
케 미 칼 256 195 228 259 236 232 447 393 166
전자재료 301 155 292 279 228 155 244 302 245
패 션 143 208 130 139 27 101 112 95 214
기 타 -43 -1 30 2 -5 -32 2 -21 -17
영업외수익 173 296 303 605 976 972 202 292 322
영업외비용 321 335 371 721 1,235 1,156 476 716 525
순이자비용 57 59 71 86 106 109 92 77 77
세전이익 509 519 611 563 219 272 531 345 405
순이익 412 459 481 440 195 187 466 231 386