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changes in laws, regulations and tax rates; and the ability of the corporation to achieve reductions
in cost and employment levels to realize production efficiencies and implement capital expenditures at levels and times planned by management. We do not intend or assume any obligation to update any forward-looking statement, which speaks
Table of Contents
Sales Summary
Sales Summary
-4.6%
+4.4% +15.4%
344 328 323 357 350 365
+10.5%
202
233
Korea
E U
China
US
+8.1%
+12.7%
755
851
1,974 2011
2,134 2012
Others
Korea
46.6%
-4.6%
US
47.2%
5.1%
+10.5%
EU
4.9% 2.4%
+15.4%
3.0%
344
92 38
328
84 45
323
63
357
62
202
4 70
233
3 78
260
214 199
295
128 152
2011 1H
2012 1H
2011 1H
2012 1H
2011 1H
2012 1H
PC
RV
CV
M/S
PC
RV
M/S
PC
RV
CV
M/S
launch
Source : Company data / Automotive News / ACEA
+11.5%
2,183
Korea 992 China India US 373 Czech Turkey 325 Russia 43 113 2012 1H
8% 17%
6% 17% CV
1,958
907
18%
18%
RV Mid-Large PC Small PC
57%
59%
2011 1H
2012 1H
Statement of Income Financial Summary by division Statement of Financial Position Cash Flow Highlights
2011 1H
Sales Revenue Gross Profit
Margin (%)
Change
9.9% 10.9% 3.4% 19.6% 21.0% 15.5% 19.5%
38,325 9,063
23.6
SG&A
Portion (%)
5,240
13.7
5,420
12.9
132 3,954
10.3
158 4,785
11.4
Recurring Profit
Margin (%)
5,449
14.2
6,293
14.9
Net Profit
Margin (%)
4,184
10.9
4,998
11.9
Consolidated Statement of Income (K-IFRS), Business results of BHMC is accounted in equity income accounting Net Profit includes non-controlling interest
2011 1H
Sales Revenue
Automotive
2012 1H 42,105
36,323
Change
9.9% 10.4% 5.2% 9.8% 21.0%
38,325
32,898
Finance
Other
3,842
1,586
4,041
1,741
Operating Profit
Automotive
Finance Other
Consolidation adjustment
3,954
3,217
794 80 137
4,785
4,323
637 88 262
34.4%
19.9%
9.4%
2011
Assets
Current Assets Cash & Cash Equivalents*
2012 1H
116,695 53,725 18,543
Change
7,215 4,799 3,129
Liabilities
Current Liabilities Short & Long-Term Debt Provision
69,152
33,164 43,339
71,793
33,639 44,684
2,641
476 1,345
6,647
40,328
147.5 107.5
7,006
44,902
159.7 99.5
359
4,574
Equity
Current Ratio (%) Debt / Equity Ratio (%) Net Debt EBITDA / Interest Expense
27,924
26,141
1,784
20.3 x
26.6 x
Consolidated Statement of Financial Position (K-IFRS) Cash & Cash Equivalents : Cash & cash equivalents + Short-term financial instruments
+ 1,243 + 4,998
Depreciation / Amortization
1,455 3,986
Tangible / Intangible Asset
7,032 6,232
Net Income Others
Positive Factors
Improved global sales Unit sales : + 11.5% (1,958K 2,183K) KRW depreciation against the USD USD / KRW 1,099.6 1,141.6 (3.8% )
36,323 32,898
Negative Factors
3,842 1,586 4,041 1,741
KRW appreciation against the EUR EUR / KRW 1,550.0 1,481.3 (4.4% )
2011 1H
Automotive Finance
2012 1H
Others
Consolidated sales revenue excludes sales revenue of BHMC Consolidated sales revenue by business division (Automotive / Finance / Others)
SG & A
3.0%
0.3%pt
Salary & wage Marketing Expense Sales warranties Warranty Provision Other Other income/ expense (net) F/X transactions Other
5,109
2.7%
5,262
2.7%
76.4%
76.1%
5,240
5,420
0.3% 1.5%
132
2011 1H 2012 1H
0.4% 0.1%
158
2011 1H
2012 1H
Financial Income
Financial Expense
Equity Earnings
1,413
1,404
2011 1H
2012 1H
2011 1H
2012 1H
2011 1H
2012 1H
2011 1H : 1,494.3
2012 1H : 1,508.3
10
Appendix
US Plant (HMMA)
Sales Volume Revenue
Revenue
Sonata
Elantra
2011 1H 2012 1H
Chg
173
175
Revenue
373
Revenue
2011 1H 2012 1H
Chg
5,933
5,881 1%
72
66 63
102
79 42
107 112
66 61
170
144
2011 1H
2012 1H
2011 1H
2012 1H
11
Revenue
Revenue
325 303
81 94 62 67 56
Revenue
2011 1H 2012 1H
Chg
2011 1H 2012 1H
Chg
2,533
2,612
3%
44
43
Revenue
694
743
7%
33 40
142
126
11 3
2011 1H 2012 1H
2011 1H
2012 1H
12
Revenue
Solaris
Rio (Kia)
2011 1H 2012 1H
Chg
2011 1H 2012 1H
Chg
162
Revenue
1,918
2,933 53%
113
Revenue
627
1,471 135%
120
28 25
70 50
25
48
63 48
67
67
2011 1H
2012 1H
2011 1H
2012 1H
13
2011 1Q
Global Plant Sales Korea Plant 919 411
2012 2Q
1,039 496
2012 2Q vs.
1H
1,958 907
1Q
1,073 484
2Q
1,110 508
1H
2,183 992
Overseas Plant
Sales Revenue Gross Profit
Margin (%)
508
18,233 4,157 22.8 2,434 13.4 105 1,827 10.0
543
20,092 4,906 24.4 2,806 14.0 27 2,127 10.6
1,051
38,325 9,063 23.6 5,240 13.7 132 3,954 10.3
589
20,165 4,639 23.0 2,548 12.6 192 2,283 11.3
602
21,940 5,408 24.6 2,872 13.1 34 2,502 11.4
1,191
42,105 10,047 23.9 5,420 12.9 158 4,785 11.4
10.9%
9.2% 10.2%
SG&A
Portion (%) Other Operating Income
2.3%
Operating Profit
Margin (%)
17.7%
Recurring Profit
Margin (%)
2,465
13.5 1,877 10.3
2,984
14.9 2,307 11.5
5,449
14.2 4,184 10.9
3,148
15.6 2,451 12.2
3,145
14.3 2,547 11.6
6,293
14.9 4,998 11.9
5.4%
Net Profit
Margin (%)
10.4%
Consolidated Statement of Income (K-IFRS), Business results of BHMC is accounted in equity income accounting Net Profit includes non-controlling interest
14