Kiwoom Securities Profile

Transcription

1

2 Kiwoom Securities Profile Kiwoom Securities was established in January 2000 with the vision of introducing full-service online brokerage in Korea. Since then, Kiwoom has continued to grow at a remarkable pace. Kiwoom is currently the market leader in brokerage in Korea with 9.93% market share as of Sep In April 2004, Kiwoom became public when it was successfully listed on KOSDAQ(039490). 2

3 Company Profile Est. Jan 2000 KOSDAQ listing: APR 2004 Bong Soo Kim 291 (SEP 2007) KRW BN (SEP 2007) 16,216,230 shares 3

4 Since beginning of operation in 2000, market share rose steadily #1 market share in Korea: 9.93% total brokerage / 18.88% online brokerage 9.93% Kiwoom 18.88% 6 Broker Avg. FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY03 FY04 FY05 FY06 FY07 4

5 Kiwoom s return on equity is the highest among financial sectors Industry s Highest Per-Capita Productivity (KRW MN) 30.5% % 14.6% 17.0% 81 Kiwoom Kiwoom 5

6 As of SEP 2007, total customer accounts reached 570K 25K~30K new accounts created per month 9.93% FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 6,000 7,000 5,000 6,000 4,000 5,000 3,000 4,000 3,000 2,000 2,0001,000 1,000 0 FY03 FY04 FY05 FY06 FY07 0 FY03 FY04 Customer Assets FY05 Number FY06of AcctsFY07 *FY07 : Q1 & Q2 Customer Assets Number of Accts

7 User-friendly & diverse trading platforms: HTS, WTS, Web, Mobile, Messenger Effectiveness: Powerful yet easy and speedy-designed for active traders Compatibility: Low maintenance cost and flexible upgrades supported by powerful IT parent Kiwoom Order System Structure HTS/WTS JAVA INTERNET Overseas KRX Cell Phone PDA Kiwoom Banks Telephone Orders Account Customer 7

8 FY07 H1 FY06 FY05 FY04 FY03 Brokerage Commissions 42, % 48, % 57, % 28, % 29, % Interest 33, % 40, % 35, % 15, % 10, % Prop Trading 17, % 16, % 10, % 2, % 2, % Fixed-income Brokerage 4, % 9, % 8, % 5, % 5, % Other (Underwriting) 7, % 7, % 3, % 2, % 1, % Net Revenue 105, % 122, % 115, % 53, % 50, % Operating Profit & KOSPI Performance 40 30% % 10% 0-10 FY03 FY04 FY05 FY06 FY07 0% -10% 8

9 Brokerage revenue-dependent on market share growth Long-term growth-positive outlook as customer assets & account continuously rising Share Turnover Trend Brokerage Revenue % 10% % % % % FY03 FY04 FY05 FY06 FY07 5% *Quarterly turnover *Quarterly brokerage revenue 9

10 Interest revenue: a major source of income for online broker -Increase in stable income as customer base increases Customer Loans Interest Revenue (KRW BN) (KRW BN) Short-term Receivables Long-term Margin Collateralized Loan Total *Quarterly average balance FY03 FY04 FY05 FY06 FY07 *Quarterly Interest Revenue 10

11 New Business Development Cross-border Trading Online Fund Sales

12 New Business Development - 1.Overseas Trading Global Trading Hub H.K. (MAY 07) CHINA (AUG 07) Japan (DEC 07) U.S (MAR 08) ASEAN (2008) 12

13 First online direct access to H.K. Direct trading from desktop HTS Real time quotes and news Industry s Lowest Fees 13

14 Kiwoom Online Fund Mall Largest Discount Fund Mall (180) Fund Advisors & Consultation Industry-lowest Fee Structure Index Products Unbiased Comprehensive Information 26 Asset Management Firms 180 Top-selling Products Domestic & Foreign Funds Lowest Fee Comprehensive Fund Information No Sales Pressure-Shop at leisure Informative Videos & Consultation 3 Year goal: 3% of total fund market 14

15 180 Funds/26 Managers Domestic/Foreign funds Full disclosure Unbiased presentation Informative Videos Shop-at-leisure Lowest fees 15

16 New Capital Markets Act (effective from Feb 2009) -Licenses brokers to engage in wide range of financial products and services Interest, F/X futures Foreign Derivatives ETFs, ECN(PTS) 16

17 Financial Highlights FY2007 H1

18 115 BN 125 BN 106 BN 65 BN 61 BN 68 BN 48 BN 44 BN 49 BN 50 BN 54 BN 13 BN 12 BN 7 BN 7 BN FY03 FY04 FY05 FY06 FY07 H1 FY03 FY04 FY05 FY06 FY07 H1 FY03 FY04 FY05 FY06 FY07 H1 312 BN 318 BN 492 BN 833 BN 1,090 BN 1,612 BN 62 BN 77 BN 126 BN 163 BN 12.4% 10.3% 47.4% 30.5% 41.5% FY03 FY04 FY05 FY06 FY07 H1 FY03 FY04 FY05 FY06 FY07 H1 FY03 FY04 FY05 FY06 FY07 H1 18

19 19

20 Total Net Revenues Brokerage Commissions Interest Revenue Prop Trading Fixed-income Brokerage Other (Underwriting) SG & A Expenses Compensation & Benefits IT Expenses Fees Paid Advertising Depreciation Others Operating Profit Recurring Profit Net Income 20

21 (KRW MN) Total Net Revenues Brokerage Commissions Interest Revenues Prop. Trading Revenue Fixed-income Brokerage Others (Underwriting) SG & A Compensation & Benefit IT Expenses Commissions Paid Advertising Depreciation Others Operating Profit Recurring Profit Net Income 23,572 10,381 11,315 9,555 12,650 15,906 17,614 21

22 Market Trading Value On/Off line Investor Breakdown Total Daily Average Online Offline Individuals Domestic Institutions Foreigners in bil. KRW % % % % % Jan-03 56,566 2, Feb-03 45,231 2, Mar-03 54,330 2, Apr-03 80,093 3, May-03 70,390 3, Jun-03 78,632 3, Jul-03 84,883 3, Aug-03 69,201 3, Sep-03 60,707 3, Oct-03 72,975 3, Nov-03 71,652 3, Dec-03 69,233 3, Jan-04 63,753 3, Feb-04 69,105 3, Mar-04 71,018 3, Apr-04 77,461 3, May-04 63,248 3, Jun-04 56,883 2, Jul-04 45,314 2, Aug-04 45,433 2, Sep-04 50,216 2, Oct-04 56,841 2, Nov-04 53,285 2, Dec-04 58,934 2, Jan-05 80,351 3, Feb-05 82,751 4, Mar-05 94,281 4, Apr-05 61,568 3, May-05 65,848 3, Jun-05 92,040 4, Jul ,517 5, Aug ,728 4, Sep ,519 5, Oct ,728 5, Nov ,717 6, Dec ,586 7, Jan ,180 8, Feb ,464 6, Mar ,125 5, Apr ,589 6, May ,760 5, Jun-06 88,459 4, Jul-06 73,856 3, Aug-06 86,845 3, Sep-06 93,294 4, Oct-06 85,512 4, Nov ,536 4, Dec-06 88,374 4, Jan-07 95,749 4, Feb-07 98,077 5, Mar ,217 5, Apr ,742 6, May ,514 6, Jun ,713 9, Jul ,719 9, Aug ,971 8, Sep ,

23 KIWOOM Total M/S Retail M/S Online M/S % % % Jan-03 Feb-03 Mar-03 Apr-03 May-03 Jun-03 Jul-03 Aug-03 Sep-03 Oct-03 Nov-03 Dec-03 Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 Aug-04 Sep-04 Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 Nov-05 Dec-05 Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep % 23

24 Customers' Assets No. of Accounts Short-term Margin Long-term Margin Collateralized Loan Customers' Deposit (in billion) (average in billions) FY03 1Q , Q , Q , Q , FY04 1Q , Q , Q 1, , Q 1, , FY05 1Q 1, , Q 1, , Q 2, , Q 2, , FY06 1Q 2, , Q 3, , Q 3, , Q 3, , FY07 1Q 4, , Q 5, , ,000 5,000 4,000 3,000 2,000 (KRW BN) 600 (Thousand) Short-term Receivables Long-term Margin Collateralized Loan Total 1,000 0 FY03 FY04 FY05 FY06 FY07 Customer Assets Number of Accts *As of MAY Quarterly: FY07 Q2 24

25 Q & A 25