2012 3Q Earnings Overview

Transcription

1 2012 3Q Earnings Overview

2 Notes for Investors This presentation has been prepared with unaudited 3 rd Quarter results of year 2012 for investor s convenience. Therefore, some numbers may change upon The review of Kia s independent auditors.

3 Table of Contents 1. Sales Results 2. Income Statement 3. Statement of Financial Position 4. Cashflow Statement # Appendix Income Statement (Quarterly) Retail Sales by Region (Korea, US, Europe, China, Rest of World) 5. Revenue Analysis 6. COGS / SG&A / Other Operating Income & Expenses 7. Financial Income / Investment in Associates Income

4 Sales Results (Unit : Thousand) Change (%) Change (%) Retail Sales 1,827 2, Ex-factory Sales 1,853 2, Korea US * Europe Korea Plant Domestic Export Overseas Plant 1,159 1, China US Rest of World China Europe * Europe : EU + EFTA Countries 1

5 Income Statement (Unit : Billion Won) As % As % Change (%) Of Rev Of Rev Revenue 32, , Cost of Sales 24, , Gross Profit 7, , Operating Profit 2, , Income before Tax 3, , Net Income 2, ,

6 Statement of Financial Position (Unit : Billion Won) End Sep End Change Assets Current Assets 30,255 33,148 +2,893 11,075 12,397 +1,322 (Cash & Cash Equivalents) (3,934) (5,485) +1,551 Liabilities Debt (Net Debt) 16,745 16, ,607 4,377-1,231 (1,673) (-1,108) -2,782 Current Ratio 97.0% 116.5% +19.6%p. Equity Debt-to to-equity Ratio Net Debt-to to-equity Ratio 13,510 16,395 +2, % 26.7% -14.8%p. 12.4% -6.8% -19.1%p. * Cash = Cash & Cash Equivalents + Short-term Financial Instrument ** Net Debt-to-Equity = Net Debt / Equity 3

7 Cashflow Statement (Unit : Billion Won) Net Operating Cashflows Net Income 4,377 3,127 Beginning Cash Balance 2,304 Depreciation & Amortization Others (incl. ST financial instruments) (3,934) Net Investment Cashflows Increase in Increase in Tangible/Intangible Assets Increase in Short-term Financial Instruments -2,713-1,193-1,329 Others -191 Net Increase In Cash 222 (incl. ST financial instruments) (+1,551) Net financing Cashflows -1,442 Ending Cash Balance 2,526 Decrease in Debt (net) Others -1, (incl. ST financial instruments) (5,485) 4

8 Revenue Analysis Revenue by region Sales by Segment +11.6% (Unit : Billion Won) A+B+C D+E RV CV 32,228 21% Korea 35,966 19% 32.3% 5.2% 52.4% 29.1% 4.3% 52.5% 32% North America 37% 10.1% 14.1% % Europe 25% * Based on global retail sales (excluding China) 21% Others 19% F/X & ASP Trend (Korea Plant) USD / KRW Movement : 1,097 1,139 (+3.8%) Korea : KMC domestic revenue North America : KMA/KCI whole sale revenue + KMMG OEM revenue Europe : Europe sales subsidiaries whole sale revenue + KMS OEM revenue Others : KMC direct export revenue + KMAU/KMNZ wholesale revenue ASP Trend : Domestic (mn KRW) : (+2.2%) : Export (thou. USD) : (+1.6%) 5

9 COGS / SG&A / Other Operating Income & Expense Cost of Sales SG&A Other Operating Income & Expenses (as % of rev.) (as % of rev.) (as % of rev.) +0.2%p. -0.7%p. 77.3% 76.7% 14.4% Salary & Wages Marketing Expenses 14.6% Export Expenses Warranty Expenses Others %p. 0.23% 0.08%

10 Financial Income / Investment in Associates Income (Unit : Billion Won) Financial Income Investment in Associates Income , , Income Expenses ,112 7

11 Thank you.

12 # Appendix Income Statement (Quarterly) Retail Sales by Region (Korea, US, Europe, China, Rest of World)

13 Income Statement (Quarterly) 1Q Q 3Q 1Q 2Q 3Q 2012 Change (%) (Unit : Billion Won) 3Q 12 vs. 3Q 12 vs. 3Q 11 2Q 12 Revenue 10,658 11,581 9,990 11,790 12,551 11, Cost of Sales 8,333 9,035 7,540 9,068 9,431 9, as % of rev. (78.2) (78.0) (75.5) (76.9) (75.1) (78.2) Gross Profit 2,325 2,546 2,450 2,722 3,120 2, Margin (%) (21.8) (22.0) (24.5) (23.1) (24.9) (21.8) Operating Profit 840 1, ,121 1, Margin (%) (7.9) (8.9) (8.3) (9.5) (9.7) (7.4) Pretax Profit 1,271 1, ,568 1,506 1, Margin (%) (11.9) (12.3) (8.7) (13.3) (12.0) (10.7) Net Profit 953 1, ,201 1, Margin (%) (8.9) (9.7) (6.5) (10.2) (8.7) (7.1) 10

14 Korea Sales & Market Share Analysis & Strategy (Unit : Thousand) YoY Growth Industry -6.0% KIA -4.7% (%) % % 31.3% 30.9% -4.7% Quarterly Sales & M/S 32.3% 30.4% 30.1% % % 30.9% 31.2% % 27% 23% % 27% % 26% 1Q'11 2Q 3Q 4Q 1Q'12 2Q 3Q New Models Sales Unit M/S 67% 62% 62% 64% (P) K9 Launch in May 2012 Flagship Luxury Sedan K3 Launch in Sept 2012 Small-sized Volume Car PC RV * M/S is based on demand including imported cars CV 4Q Sales Outlook ㆍ Extended supply for strong K3 sales ㆍ Promotion along with the private consumption tax cut 11

15 US Sales & Market Share Analysis & Strategy (Unit : Thousand) YoY Growth Industry +14.5% KIA +18.4% (%) +10.0% % 3.9% +18.4% Quarterly Sales & M/S 4.3% 3.8% 3.4% % % 4.0% 4.0% % % % 1Q'11 2Q 3Q 4Q 1Q'12 2Q 3Q Sales Unit M/S 43% Market Share by Segment 68% Segment % 57% 69% Sub-Compact (Rio) 4.7% 9.1% Compact (Soul) 5.4% 5.7% Midsize (Optima) 3.9% 6.3% (P) Compact CUV (Sorento) 11.7% 9.6% PC RV 4Q Sales Outlook ㆍ Successful launch of Sorento face-lift (Dec) ㆍ Maintain 4% M/S for year

16 Europe Sales & Market Share Analysis & Strategy % 71% +22.8% % 75% (Unit : Thousand) 2.6% 2.0% % 71% +20.2% % 73% Industry -7.0% KIA +20.2% Quarterly Sales & M/S 2.6% 2.4% 2.5% 2.9% 2.3% 2.0% 1.7% Q'11 2Q 3Q 4Q 1Q'12 2Q 3Q Sales Unit M/S New Models YoY Growth (%) (P) Picanto Rio cee d cee d wagon PC RV CV 4Q Sales Outlook ㆍ Continuous M/S gain despite shrinking demand * Europe : EU + EFTA countries ㆍ Launch of New cee d Wagon, Sorento face-lift, K5 HEV 13

17 China Sales & Market Share Analysis & Strategy (Unit : Thousand) YoY Growth Industry +6.9% KIA +10.9% (%) +6.4% 3.5% 3.6% Quarterly Sales & M/S 3.1% 3.5% 3.9% 4.0% 3.6% 3.5% 3.7% % % +10.9% % 1Q'11 2Q 3Q 4Q 1Q'12 2Q 3Q Sales Unit M/S 75% 76% 26% 74% 76% Market Share by Segment Segment C1 (Rio/K2) 3.2% 7.1% D2 (K5) 2.0% 3.1% (P) SUV (Sportage R) 4.1% 3.8% PC RV 4Q Sales Outlook ㆍSuccessful launch of K3 (Oct) ㆍ Extended number of dealer network ( 11 : : 560) 14

18 Rest of World Sales & Market Share Analysis & Strategy (Unit : Thousand) Sales Growth ( 11 vs. 12) (Unit : Thousand) +10.8% % Region Sales 6% +14.0% vs. 11 Weight Rest of World % 100% 778 6% 31% 30% 581 7% 30% 662 6% 30% Middle East/Africa % 33% Eastern Europe % 27% (Russia) (141) (+27.1%) (21%) 63% 64% 63% 64% Latin America % 19% Asia/Pacific % 12% (P) Canada % 9% PC RV CV 4Q Sales Outlook ㆍ Increase overseas production & minimize domestic production loss ㆍ Brand marketing campaign (GBCS) in Russia/ME/Australia 15