mando.2q11 earnings presentation

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Investor Relations 2011 2011 2Q Business Results

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Page 1: MANDO.2Q11 Earnings Presentation

Investor Relations 2011

2011 2Q Business Results

Page 2: MANDO.2Q11 Earnings Presentation

Contents

1. Income Statement

2. Statement of Financial Position

3. Summary [by region]

The financial numbers and statements included in the following presentation represent statements

made before the external review by independent public accountants for the financial results of 2011 2Q,

and are presented here today solely for the purpose of offering the investor an understanding of the

company. Part of the presentation is subject to change in the process of final reviewing by independent

public accountants.

Page 3: MANDO.2Q11 Earnings Presentation

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1. Income Statement(Bil.KRW)

Description

2011 2Q 2011 1Q QoQ 2010 2Q YoY

Amount Amount Amount (%) Amount Amount (%)

Sales 1,109.4 1,028.3 81.1 7.9% 914.6 194.8 21.3%

EBIT 83.0 69.6 13.4 19.2% 86.3 -3.3 -3.8%

(%) 7.5% 6.8% 0.7% 9.4% -1.9%

Pre-Tax Profit 80.8 68.2 12.6 18.4% 80.4 0.4 0.5%

(%) 7.3% 6.6% 0.7% 8.8% -1.5%

Net Income 61.9 58.8 3.1 5.2% 57.8 4.1 7.2%

(%) 5.6% 5.7% -0.1% 6.3% -0.7%

※ K-IFRS Consolidated

Page 4: MANDO.2Q11 Earnings Presentation

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(Bil.KRW)

Descriptiom 2011 2Q 2010 Change

Assets 2,931.3 2,536.0 395.3

(Cash) 211.8 129.9 81.9

Liabilities 1,581.3 1,296.4 284.9

(Debt) 465.8 246.6 219.2

Equity 1,350.0 1,239.6 110.4

(Capital Stock) 91.1 91.1 -

L/E Ratio 117.1% 104.6% 12.5%

D/E Ratio 34.5% 19.9% 14.6%

2. Statement of Financial Position

Page 5: MANDO.2Q11 Earnings Presentation

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3. Summary [by region]

(Bil.KRW)

Description2011 2Q 2011 1Q QoQ 2010 2Q YoY

Amount Amount Amount (%) Amount Amount (%)

Korea

Sales 775.3 695.8 79.5 11.4% 603.9 171.4 28.4%

EBIT 49.2 27.7 21.5 77.6% 44.1 5.1 11.6%

(%) 6.3% 4.0% 2.3% 7.3% -1.0%

China

Sales 215.4 205.1 10.3 5.0% 179.9 35.5 19.7%

EBIT 29.7 27.3 2.4 8.8% 27.1 2.6 9.6%

(%) 13.8% 13.3% 0.5% 15.1% -1.3%

US

Sales 241.0 259.0 -18.0 -6.9% 231.9 9.1 3.9%

EBIT 2.1 6.7 -4.6 -68.7% 10.1 -8.0 -79.2%

(%) 0.9% 2.6% -1.7% 4.4% -3.5%

Others

Sales -122.3 -131.6 9.3 -7.1% -101.1 -21.2 21.0%

EBIT 2.0 7.9 -5.9 -74.7% 5.0 -3.0 -60.0%

(%)

Consolidated

Sales 1,109.4 1,028.3 81.1 7.9% 914.6 194.8 21.3%

EBIT 83.0 69.6 13.4 19.2% 86.3 -3.3 -3.8%

(%) 7.5% 6.8% 0.7% 9.4% -1.9%

※ Others : India, EU, Brazil, Internal trading between regions

1) By Region

Page 6: MANDO.2Q11 Earnings Presentation

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Brake Div.

R&D Center

Suspension Div.

Steerin Div.

▣ QoQ

- Sales

→ Seasonal Increase (Increase of Working days)

- EBIT

→ Contribution margin(+)

2) Korea

• Subsidiaries(3 companies)

- Mando

- Meister

- Halla Stackpole

Meister

Halla Stackpole

• Major Customers

44.1 27.7 49.2

7.3%

4.0%

6.3%

0.0%

5.0%

10.0%

0

50

100

2010 2Q 2011 1Q 2011 2Q

EBIT Margin(%)

Description‘11 2Q ’11 1Q QoQ ’10 2Q YoY

Amount Amount (%) Amount (%)

Sales 775.3 695.8 11.4% 603.9 28.4%

EBIT 49.2 27.7 77.6% 44.1 11.6%

(%) 6.3% 4.0% 2.3% 7.3% -1.0%

(Bil.KRW)

▣ YoY

- Sales

→ Domestic sales increase (HMC/KMC, GM , etc.)

→ Export increase

- EBIT

→ Contribution margin(+), F/X loss(-), Raw material increase(-)

3. Summary [by region]

Page 7: MANDO.2Q11 Earnings Presentation

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3) China

27.1 27.3

29.7

15.1%

13.3%13.8%

12.0%

14.0%

16.0%

25

30

2010 2Q 2011 1Q 2011 2Q

EBIT Margin(%)

Description’11 2Q ’11 1Q QoQ ‘10 2Q YoY

Amount Amount (%) Amount (%)

Sales 215.4 205.1 5.0% 179.9 19.7%

EBIT 29.7 27.3 8.8% 27.1 9.6%

(%) 13.8% 13.3% 0.5% 15.1% -1.3%

• Subsidiaries(10 Companies)

- MBC(Beijiing)

- MSC(Suzhou)

- MHC(Harbin)

- MTC(Tianjin)

- Others(Beijing R&D, etc)

• Major Customers

MSC(Suzhou)

MBC(Beijing)

MHC(Harbin)

MTC(Tianjin)

(Bil.KRW)

▣ QoQ

- Sales

→ Increase of sales for Global Automakers (DYK, SGM, etc)

- EBIT

→ Contribution margin(+)

▣ YoY

- Sales

→ Increase of sales for Global Automakers (DYK, SGM, etc)

→ Increase of sales for Chinese Automakers(CHERY/GEELY,etc)

- EBIT

→ Contribution margin(+), Geely JV(-), Raw material cost(-)

3. Summary [by region]

Page 8: MANDO.2Q11 Earnings Presentation

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4) US

• Major Customers

10.1 6.72.1

4.4%

2.6%

0.9%

0.0%

5.0%

0

10

20

2010 2Q 2011 1Q 2011 2Q

EBIT Margin(%)

Description‘11 2Q ‘11 1Q QoQ ’10 2Q YoY

Amount Amount (%) Amount (%)

Sales 241.0 259.0 -6.9% 231.9 3.9%

EBIT 2.1 6.7 -68.7% 10.1 -79.2%

(%) 0.9% 2.6% -1.7% 4.4% -3.5%

MCA

(Opelika, Alabama)

(Bil.KRW)

▣ QoQ

- Sales

→ Decrease of sales for GM, KMMG (Summer Shutdown)

- EBIT

→ Contribution margin(-), Transfer price adjustment in 2011 2Q(-)

▣ YoY

- Sales

→ Increase of sales for GM, KMMG

- EBIT

→ Contribution margin(+), Transfer price adjustment in 2011 2Q(-),

Raw material cost(-)

3. Summary [by region]

• Subsidiaries(2 Companies)

- MCA

- Uriman