MANDO.2Q11 Earnings Presentation
Transcript of MANDO.2Q11 Earnings Presentation
Investor Relations 2011
2011 2Q Business Results
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.
3
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
4
(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
5
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
6
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]
7
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]
8
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