Q2 2013 results
Divisional Sales
Q2’13 Results
Won(Bil) Q2 2013 Q1 2013 Q2 2012
Sales 617 529 604 2.2% ↑ 16.6% ↑
COGS 501 436 484 3.6% ↑ 15.1% ↑
GP 116 94 120 -3.3% ↓ 23.8% ↑
S&A Exp 63 61 61 2.9% ↑ 3.4% ↑
OP 53 33 56 -6.4% ↓ 61.7% ↑
EBT 28 14 46 -39.3% ↓ 100.0% ↑
Net Income 23 13 32 -28.0% ↓ 80.3% ↑
Y-o-Y Q-o-Q
change
8% 8% 8%
19% 20% 16%
4% 3%1%
13% 12%14%
29% 29% 32%
27% 28% 28%
E/E T&D Automation TransportationSOC
LS Metal Other
318
459 427
448
387
453 453
604 574
602
529
617
0
100
200
300
400
500
600
12 Q1 12 Q2 12 Q3 12 Q4 13 Q1 13 Q2
Sales[Parent] Sales[Con]
29
57
39
26
32
50
30
57
41
27
33
53
0
10
20
30
40
50
60
12 Q1 12 Q2 12 Q3 12 Q4 13 Q1 13 Q2
OP[Parent] OP[Con]
13’ Q1 13’ Q2 12’ Q2
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Balance Sheet
Liabilities/Equity
Net Debt/Equity
ROE
Asset 2,118 2,020 1,770 98 4.9%
Current 1,263 1,157 920 106 9.2%
Cash & Cash Equi 203 176 125 27 15.3%
Non-Current 855 863 848 -8 -0.9%
Liability 1,267 1,183 993 84 7.1%
Current 625 604 514 21 3.5%
Non-Current 642 579 479 63 10.9%
Equity 851 839 777 12 1.4%
Net Debt 475 470 451 5 1.1%
(%)Won(Bil) 13' Q2 2012 2011 Y-o-Y
148%
141%
55.8%
56.0%
11.6%
8.3%
End of
12’ End of 13’ Q2
2 / 6
Electric Equipment – Q2 Results & Market Outlook
Sales(bil)
• Remained solid sales & operating profits despite of sluggish macro
• Maintained strong market dominance in Korea & exports portion increased to nearly 50% of total sales
• [Domestic] Sales ↓(Y-o-Y) due to sales deferral of Gov’t PJTs & recession in shipment industry
• [Overseas] Sales ↑(Y-o-Y) due to sales growth to emerging market
• 2nd Half Focusing on Local Mega PJTs(SSE, Hynix, Lotte, Kepco, Misc)
• Overall environment favorable as Macro Index expected to improve (CAPEX △1.9% +1.7%, Construction △2.2 +4.2%) in 2nd Half
49 %
51 % 65 %
35 %
65 %
35 %
200
53
14 10 18 20
LV HV Swich Meter Relays Other
S/E Asia, 29%
M/E, 27%Europe,
7%
CIS, 11%
Mid
America,8%
Other, 17%
13’ Q2 Export Region Products(bil) 12’ Q2 13’ Q1 13’ Q2
171
150
165 Korea
3 / 6
Overseas
T & D – Q2 Results & Market Outlook
55 %
45 % 55 %
45 %
47 %
53 %
12’ Q2 13’ Q1 13’ Q2
• Remained robust sales of Iraq substation PJT & PV-products to Japan
• Maintained strong Sales Growth on Q-o-Q base due to seasonality
• Sales ↓(Y-o-Y) due to base effect of one-off PJT in Bulgaria(\30b) in 12 Q2
• [Domestic]
Sales ↓ (Y-o-Y) due to Market recession & Results of fortifying Risk MGT towards Local Construction Companies
• [Overseas] Strong performance at overseas biz(Iraq, Japan solar)
• 2nd Half - Focusing rewarding Ongoing Bids in MENA region with Iraq Ref. - Fortifying Feasible Local PJTs in UHV Market(IIAT\10b, KEPCO S/S \10b) - Solar sales expected to meet target of ’13 largely driven by exports to Japan - Preparing ‘After Iraq’ Market(Saudi, Africa, US) with internalization of Iraq PJT
※Solar Biz included
10
41
14
49 72
117 10
18
34
-
20
40
60
80
100
120
140
160
180
2011' 2012' 2013'(est)
Module PV-Inv Other
Solar Biz Sales Outlook
130 68
31
5
48
Distribution Syst UHV GIS Transfomer SCADA UHV Transformer
Sales(bil) 193
155
180
Products(bil)
4 / 6
Korea
Overseas
Automation – Q2 Results & Market Outlook
30 %
70 % 69 %
31 %
71 %
29 %
12’ Q2 13’ Q1 13’ Q2
• Sales(Q-o-Q) rebounded driven by seasonality
• Remained Leading position in Local Device Market & Secured normal Sales Pace
• Automation System(Order base) sales slowdown due to weak back log
• [Domestic]
Sales ↓(Y-o-Y) due to Slow-paced Macro, downturn in Capex
• [Overseas] Sales Growth at Slow progress due to delaying in finding Key Accounts
• 2nd Half - Focusing on Energy Saving Market(Power Shortage Issues in Korea) - System Sales expected to rebound in 2nd Half as Back log recovering - Expecting high growth in next 5 years as chronic power shortage issue
68
45
13 17
INV PLC Syst Other
Source: Industry Data
Sales(bil)
85
63
78
Products(bil)
0%
5%
10%
15%
20%
25%
Korea Japan Europe US
Inverter Installation Ratio
5 / 6
Korea
Overseas
Transportation SOC - Q2 Results & Market Outlook
44 %
56 % 70 %
30 %
100 %
53 %
12’ Q2 13’ Q1 13’ Q2
• Strong Sales growth driven by Sales recognition of KTX PJT & Bangladesh PJT
• Expected Sales of 13’ \120b largely driven by two PJTs
* KTX : Korea Train eXpress
• New Orders Rewarded from Taiwan PJT(\10b)
• 2nd Half
- Focusing on New orders IIAT(\20b) - New KTX PJT (Suseo-Pyungtaek)expected to place order(\80b)
PJT Plan Sales %
KTX 65 13 20%
Bangladesh 23 14 62%
DIV
12'Q2 12' Q4 13' Q2
T & D Korea 317 271 287
Overseas 345 332 278
Trans SOC Korea 191 317 316
Overseas 35 7 31
Other - 110 160 178
Total 998 1,087 1,090
Order Backlog
Sales(bil)
6
14
24
6 / 6
Korea
Overseas
3 / 5
Business Introduction
Business portfolio
T&D (Transmission & Distribution)
Leading Electric Power, Automation & Green Business Total Solution Provider
Power Plant Primary Substation
Ultra-high voltage power transmission & distribution system equipment like gas insulated switchgear (GIS) and gas circuit breakers (GCB) <Main Product> - Gas Insulated Switchgear (GIS) - Transformer - Remote Monitoring & Diagnosis Equipment - Power Distribution Panels & Switchgears - Railway System
Factory/Building/Household Substation
Top low and medium voltage Electric equipment for electricity users <Main Products> - Vacuum Circuit Breaker - Air Circuit Breaker - Molded Case Circuit Breaker (MCCB) - Contactors
Primary Transmission
Sub-Transmission
Factory
Home
# 1 / 6
Business portfolio
Automation & Drive
Automation systems, which integrate core hardware and software technologies as well as technological services, provide optimum total solutions in a wide range of industrial workplaces <Main Product> - Inverter (Motor Drive) - PLC (Programmable Logic Controller) - HMI (Human Machine Interface) - Automation System (Distributed Control System)
- Power Semiconductor
Photovoltaic System Green Car Solution HVDC System Smart Grid
Factory / Building
Manufacturing Industry
IT Industry
Indutrial Infrastructure
Industrial IT
# 2 / 6
Products portfolio –Electric Equipment
Electric Equipment
MMS MC & TOR ACB MCB MCCB VCB
• AC 690V • Up to 800A • UL 508 IEC 60947-4
• AC 690V • Up to • 6,300A • Up to 150kA • IEC 60947-2
• AC 400V • Up to 125A • Up to 10kA • IEC 60898
• AC 7.2~40.5kV • Up to 4,000A • Up to 50kA • IEC 62271-100
• AC 690V • Up to 100A • Up to 100kA • UL 508 IEC 60947-2/4
• AC 690V • Up to 1600A • Up to 150kA • IEC 60947-2
• 12/17.5/24kV • 630A • 21kA (3s) • IEC62271-1~200
RMU, LBS
Low voltage
- Air Circuit Breakers(ACB)
- Molded Case Circuit Breakers (MCCB)
- Miniature Circuit Breakers (MCB)
- Magnetic Contactors (MC)
- Electronic Motor Protection Relay(EMPR)
High Voltage
- Ring Main Unit(RMU), Load Break Switch(LBS)
- Vacuum Circuit Breakers (VCB)
- Vacuum Interrupter(VI)
- Power Fuses
Measurement / Relay
- Smart Meter, Electronic Watt-Hour Meter
- Digital Protection Relay & Meter
# 3 / 6
Products portfolio –T & D
Transmission & Distribution
Ultra High Voltage Equipment
- Gas Insulated Switchgear
- Gas Circuit Breaker
Transformer
- Mold Transformer
- Cast Resin Transformer
- Oil Immersed Transformer
Power Distribution Panel
- Gas Insulated Switchgear
- Air Insulated Switchgear
- Motor Control Center
Diagnostic Equipment
- Diagnosis & Overhaul,
- Power Monitoring System, Rationalization
- Power Quality Monitoring Solution
Busway
- Susol Busway, GH-P Type
Gas Insulated Switchgear
• 362kV • Up to 8,000A • Up to 63kA
• 245kV • Up to 4,000A • Up to 50kA
• 72.5~170kV • Up to 4,000A • Up to 50kA
Transformer
• 72~550kV • Up to 800MVA • IEC 60076 /
ANSI(IEEE) C57
• 3.3~36kV • Up to 20MVA
Switchgear/Busway
• 7.2~36kV • 630~3150A • up to 170kV • IEC 62271-200 • KERI & KEMA
Certified
• 600V • 630 ~5000A • 80 kA / 1s • ASTA Certified
• Up to 1000 V • 630~6000A (Al)
• 630~7500A (Cu)
• 220 kA / 1 s (Cu 4000A)
# 4 / 6
Products portfolio –Automation
Automation & Drive
PLC (Programmable Logic Controller)
HMI (Human Machine Interface)
Servo Motor/Drive
AC Drive
MV Drive
Power Semiconductor
AC Drive
Drive Solution
PSC module
Power Semiconductor
HMI PLC
Automation Solution
• IGBT Module • MOSFET Module • Diode Module
MV Drive
• 200/400V 0.1~800kW • V/F, Sensorless, Vector Control • Energy Saving
• 2/4/6/10kV 200~11,000kvA • V/F, Sensorless, Vector Control • Energy Saving
Servo
• Standard EtherCAT Network • Accurate Control • Full-Closed • Ethernet / Serial Communication
• Redundancy & Performance • Distributed I/O • Ladder & IEC Language
• 5~15” Touch Screen • 65,536 Colors • Offline Program Simulation
# 5 / 6
Products portfolio –Trans. SOC
T&D(Railway System) AF Track Circuit
- Analog Audio Frequency Track Circuit
- Digital Audio Frequency Track Circuit
CTC
- Centralised Traffic Control(CTC)
Traction Power System
- Scott Transformer, DC Switchgear & DC Rectifier, GIS
Signalling System
- Communication Based Train Control(CBTC)
- Electronic Interlocking System(EIS)
- Automatic Train Protection(ATP)
ATC
- Automatic Train Control System(ATC)
- Automatic Train Operation(ATO)
• Centralised Traffic Control
• Scott Transformer (154kV/55kV) • DC Switchgear • DC Rectifier(1,500V / 750V) • High Voltage Transformer
(154kV/22.9kV) • GIS (170kV, 72.5kV) • Low Voltage Switchgear
• CBTC System • EIS • ATP
• High Speed Train ATC Facility • Korail maintenance train ATC • High speed mainline signaling
system • ATC Ground Control System • ATC Ground Control S/W • ATC/ATO Train Control S/W
• Analog Audio Frequency Track Circuit
• Digital Audio Frequency Track Circuit
CTC Signalling System ATC AF Track Circuit Traction Power System
Electronic Interlocking System(EIS)
# 6 / 6