2009 3Q Factbook IR Team

Transcription

1 2009 3Q Factbook IR Team

2 Milestone Q3/09 Introduced New Eco-friendly tire, ECOWING at Frankfurt Motor Show, Germany H1/09 Appointed Mr. Kim, Jong Ho as new CEO of Kumho Tire Co., Inc. Open TIREPRO, a flagship tire store in Ho Chi Min city, Vietnam Open TIRES4U, a retail outlet in North America 2008 Completed Vietnam plant (annual capacity of 3.15mn tires) Groundbreaking the APU (automation plant) Gerogia, U.S. to invest USD 165mn (annual capacity of 2.1mn tires) Open TIREPRO, Kumho Tire s exclusive flagship retail store in Shanghai, China Groundbreaking Kumho Tire s new central R&D center as Global R&D hub in nearby Seoul, invested KRW 70bn Completed Nanjing TBR plant in China (annual capacity of 0.3mn tires) Ranked No.3 in the test by Consumer Report (U.S.) Road Venture APT (For SUV) Changed shareholding structure, 10.7% of Kumho Tire shares from Cooper Tire & Rubber Co. to Beacon 2007 Established Kumho Tire France Contracted MOU for the 2 nd Capacity Expansion of Changchun plant up to 6.3mn tires annually Renominated as an official supplier for Masters of F3, Europe unitl 2011 Contracted w/ Manchester United as a Platinum sponsor for the next 4 yrs. Approved for Civil Aviation Tire as Korean Standard Order by Government Completed Changchun plant (annual capacity of 3.15mn tires) as the 3 rd facility in China Supplying 18 inch UHP for New Sebring of Daimler Chrysler, U.S New OE contracted with Benz for A-Class, Europe Launched X-Speed Tire (Speed up 360km/h) Implemented global ERP system 2006 Planned for a building of Changchun plant, Nanjing TBR plant in China, Vietnam plant, N/R processing factory Completed Tianjin plant (annual capacity of 5.25 mn tires) on July & KCTC on September Launched XRP (Run-flat Tire) Tires & Aroma Tires Commemorated the 60 th Anniversary of Kumho Asiana 2005 Dual-listed on the KRX (Korea Exchange) & the LSE (London Stock Exchange) 2

3 Operating Result Summary by quarter (KRW bn) Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Total Assets 2, , , , , , , , , , , , , , ,838.8 Current Assets , , Non-current Assets 1, , , , , , , , , , , , , , ,981.9 Total Liabilities 1, , , , , , , , , , , , , , ,333.5 Current Liabilities , , , , ,795.6 Longterm Liabilities Stockholders' Equity Total Debt , , , , , , , , , , , ,726.8 Net debt (Cash) , , , , , , , , , , , ,712.9 Volume ('000 tires) 8,111 8,333 8,022 8,387 7,329 8,184 7,895 8,841 7,128 7,499 6,999 7,191 5,264 5,807 5,372 Sales Tire Export Ratio (%) 58.1% 56.0% 56.5% 51.3% 55.6% 54.8% 53.7% 54.1% 56.4% 56.5% 58.7% 56.3% 66.2% 62.5% 55.1% Cost of Sales SG&A Expenses Raw material Labor (COGS) Labor (SG&A) Depreciation (COGS) Operating Profit (84.7) (59.3) (44.9) (57.2) Income Taxes 4.2 (2.0) (0.9) (2.8) (1.2) (4.8) (9.2) (16.0) (24.1) (12.0) (28.9) 0.0 Net Profit (11.5) (5.5) (14.3) 11.3 (10.7) (10.5) (31.6) 3.3 (22.3) (149.8) (109.1) (98.3) (114.8) EBITDA (46.3) (31.5) (17.1) (29.1) Cash flow from Operating activities (30.7) (55.1) (82.6) (24.7) (55.7) (198.4) 35.7 Cash flow from Investment activities 65.0 (49.4) (33.1) (517.4) (27.4) (24.5) (68.5) (10.5) (56.6) (48.0) (95.3) (41.6) (56.4) (171.3) Free Cash flow 34.3 (23.7) (21.0) (504.7) (82.5) 70.0 (55.2) 58.9 (139.2) (72.7) (112.1) (369.7) Cash flow from Financing activities (108.8) (68.9) 55.9 (46.1) (27.6) (48.5) (186.8) Beginning Cash Ending Cash * Numbers could be changeable after Independent audit 3

4 Production Outlook (Unit: 000 tires) 60, mn 50,000 40,000 30,000 20,000 10,000 Vietnam Changchun(CN) Tianjin(CN) Nanjing(CN) Pyeongtaek Gokseong Gwangju (E) (Based on actual output) (E) Domestic 74.4% 67.6% 59.1% 52.7% 49.9% Overseas 25.6% 32.4% 40.9% 47.3% 50.1% 4

5 Raw Material Cost (US$/Ton) 5,000 (Based on amount) 4,000 Raw Material N/Rubber % of Total 26.6% 3,000 S/Rubber T/Cord 22.0% 9.0% 2,000 S/Cord 12.5% C/Black 13.4% 1,000 B/Wire 2.6% 0 The others 13.9% Q3/06 Q4/06 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 N/Rubber S/Rubber T/Cord S/Cord C/Black B/Wire (Based on input cost) (US$/Ton) Q3/06 Q4/06 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Ave. Cost 1, , , , , , , , , , , , ,

6 Sales Breakdown Parent only (Unit: '000 tires) Volume 3Q/08 2Q/09 3Q/09 % YoY % QoQ Domestic 3,011 2,638 2, % -3.9% Export 3,988 3,169 2, % -10.4% Total (tire only) 6,999 5,807 5, % -7.5% Amount 3Q/08 2Q/09 3Q/09 % YoY % QoQ (Unit: bn Won) Domestic % 13.3% Export % -16.4% Total (tire only) % -5.3% 6

7 Sales Breakdown Parent only (Unit: bn Won) 3Q/09 2Q/09 3Q/ Domestic % of Total 44.9% 37.5% 41.3% Export % of Total 55.1% 62.5% 58.7% Total Q3/09 FY08 FY07 Domestic Export (%) 7

8 Sales Breakdown Parent only Breakdown by Export M.Asia, 19.4% Asia, 6.7% Oceania, 10.1% S.America, 11.1% M.Asia, 15.8% Asia, 8.7% Oceania, 5.8% S.Am erica, 10.8% Europe, 30.4% N.America, 18.3% N.America, 15.6% Europe, 27.0% Africa, 10.3% Africa, 9.9% <Q2/09 KRW 213bn> <Q3/09 KRW 178bn> 8

9 UHP Sales Parent only (Unit: bn Won) 1Q/07 2Q/07 3Q/07 4Q/07 1Q/08 2Q/08 3Q/08 4Q/08 1Q/09 2Q/09 3Q/09 UHP volume ('000) 1,160 1,439 1,458 1,492 1,367 1,476 1,373 1, ,100 UHP sales (bn Won) UHP % of total revenue 16.0% 16.3% 16.1% 18.7% 16.2% 16.2% 15.5% 11.4% 13.2% 13.0% 13.5% Korea, 24.4% Europe, 24.7% Korea, 36.5% Europe, 20.1% Oceania, 6.4% Asia, 6.6% Africa, 2.8% Oceania, 3.5% Africa, 1.9% M.Asia, 9.4% Asia, 6.0% N.America, 21.1% S.America, 2.8% N.America, 22.9% M.Asia, 6.7% S.America, 4.2% <Q2/09> <Q3/09> 9

10 Foreign Currency Exposure Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Inflow Outflow Inflow Outflow Inflow Outflow Inflow Outflow Inflow Outflow Inflow Outflow USD (mn) JPY (bn) EUR (mn) USD (2) (mn) Jun Sep Dec Mar Jun Sep Asset Liability Asset Liability Asset Liability Asset Liability Asset Liability Asset Liability USD (mn) JPY (bn) EUR (mn) USD (2) (mn)

11 Shareholder Structure - Foreigners hold 17.37% as of October, 2009 Others 33.7% Kumho Petrochemical 47.3% Mackenzie Cundill 3.3% Boston Company 5.0% Beacon 10.7% <No. of Shares 70 million> 11

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