Hyundai Heavy Industries August 2013 investor presentation

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Hyundai Heavy Industries August 2013 investor presentation

  1. 1. 1
  2. 2. 2 Important Notice This presentation of Hyundai Heavy Industries (HHI) contains forward-looking statements relating to HHI’s operations that are based on management’s current expectations, estimates and projections. Words such as “anticipates”, “expects”, “intends”, “plans”, “projects”, “schedules”, “estimates” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors including new order flows, FX rates, steel plate prices and so on, some of which are beyond company’s control and are difficult to predict. Therefore, actual outcomes and actual results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements. HHI undertakes no obligation to update any forward-looking statements to reflect subsequent events.
  3. 3. 3 Contents  H H I at a Glance  Business Performance  Financial Performance  Appendix (Quarterly Results)
  4. 4. 4 HHI at a Glance
  5. 5. 5  Date of Establishment : 1973. 12. 28  Date of Listing : 1999. 8. 24  No. of issued stocks: 76,000,000 stocks  Paid-in Capital : KRW 380 bil.  Market Value : KRW 18,392 bil. (As of December 31, 2012)  Credit Rating : A1 (Commercial Paper), AA+ (Corporate Bond)  Korea’s large conglomerate ranking : 7th (Excluding public companies, based on total assets, As of December 31, 2012)  No. of employees : 25,111 (Average 17.9 years of continuous service)  No. of dry docks : 10 (Shipbuilding), 1 (Offshore & Engineering)  Business Division : Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro Electric Systems, Construction Equipment, Green Energy Summary
  6. 6. 6  1973. 12 Establishment of Hyundai Shipbuilding & Heavy Industry Co., Ltd.  1974. 6 Inauguration of the Shipyard and Simultaneous Naming of First Two Supertankers  1978. 2 Change of Company Name to Hyundai Heavy Industries Co., Ltd.  1975.3~1985.6 Established Special Vessels, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro Electric Systems, Construction Equipment Divisions  1994. 6 Listed on the Korean Securities Dealers Automated Quotations, Delivery of Korea’s First LNG Carrier  1999. 8 Listed on the Korean Stock Exchange  2002. 2 Disaffiliated from Hyundai Group and creation of Hyundai Heavy Industries group (Hyundai Heavy Industries Co., Ltd., Asan Foundation and six other companies)  2002. 5 Acquired Samho Heavy Industries Co., Ltd.  2008. 9 Acquired HI Investment and Securities Co., Ltd. and HI Asset Management Co., Ltd. (Underwriting company : Hyundai Mipo Dockyard Co., Ltd. )  2009. 12 Acquired Hyundai Corporation  2010. 8 Acquired Hyundai Oilbank Co., Ltd. (70% of Ownership and management)  2011. 2 Became the world’s first shipbuilder to deliver 1,700th ship History
  7. 7. 7 Ownership Structure Chung Mong-joon 10.15% Hyundai Mipo Dockyard Co., Ltd. 7.98% National Pension Service 5.62% KCC 3.12% Hyundai Motors 2.88% Asan Foundation 2.53% POSCO 1.94% Asan Nanum Foundation 0.65% Treasury Shares19.36% Others 45.77% (As of December 31, 2012) (Foreign Ownership : 19.28% )
  8. 8. 8 Shipbuilding 56.0% Offshore& Engineering 16.0% Industrial Plant 7.0% Engine& Machinery 10.0% Electro Electric 9.0% Construction Equipment 1.0% Others 1.0% Shipbuilding 39.0% Offshore& Engineering 18.0% Industrial Plant 5.0% Engine& Machinery 11.0% Electro Electric 12.0% Construction Equipment 13.0% Green Energy 1.0% Others 1.0% Shipbuilding 35.0%Offshore& Engineering 15.0% Industrial Plant 12.0% Engine& Machinery 12.0% Electro Electric 12.0% Construction Equipment 10.0% Green Energy 3.0% Others 1.0% Business Portfolio 2005 2010 2013 (E) Shipbuilding/Engine 66% Shipbuilding/Engine 47% Shipbuilding/Engine 50% 10,354 bil. KRW of total sales 22,405 bil. KRW of total sales 26,857 bil. KRW of total sales (E) * 2005 sales are based on K-GAAP.
  9. 9. 9 First to build LNG Carrier in Korea (Jun. 1994) • 125,000 m3 Achieved world record production in 2-stroke Markne engines (Sep. 2010) • 100 million bhp Delivery of the World’s Biggest Jacket (May, 1989) • Exxon (U.S.A) • 40,000 ton No.1 in Global shipbuilding Market (Since 1983) • HHI, HSHI, HMD : 12.16% (2011 delivery basis) Recognized for building the ‘World Best Ship’ for the 29th consecutive year (Since 1983) • Total 47 ships, World shipbuilding publications (Maritime Report and Marine Log) Business Highlights Completed World’s largest Saudi Marafiq power plant (Apr. 2011) • power generation 2,750 MW + desalination 176 MIGD Achieved domestic record production in Transformers (Feb. 2010) • 600,000 MVA Completion of World’s Largest Elf Girassol FPSO (Feb. 2001) • 343,000 Ton
  10. 10. 10 Business Structure Shipbuilding Industrial Plant Engine & Machinery Offshore & Engineering Construction Equipment Electro Electric Systems  DSME (KOR)  SHI (KOR)  DSME, SHI (KOR)  Technip (FR)  Saipem (Italy)  McDermott (USA)  Stolt Offshore (FR)  Siemens (GER)  Hyundai E&C (KOR)  Doosan Heavy (KOR)  Samsung C&T Corporation (KOR)  Doosan, STX (KOR)  Mitsui (JPN)  Hudong, Dalian(China)  ABB (Sweden)  Siemens (GER)  Hyosung (KOR)  Komatsu (JPN)  Caterpillar (USA)  Terex (USA)  Doosan Infracore (KOR)  Suntech, Yingli (CHN)  Vestas (DEN), GE (USA  HAPAG-LLOYD (GER)  C.P. OFFEN (GER)  AP MOLLER (Denmaark)  Seaspan (Canada)  Diamond Offshore (USA)  BP(UK)  ExxonMobile(USA)  SHELL(USA)  TOTAL (FR)  CHEVRON (USA)  ENI NORGE (NOR)  SHELL (US)  MEW (KUWAIT)  SEC (SAUDI)  HMD(KOR)  Shanghai (CHINA)  DSME, SHI (KOR)  State-Owned Power company  Utility, IPP company  Wagner&Co Solartechnik(GER)  MHH Solartechnik (GER)  Sun Energy Europe (GER)  Albatech (Italy) 8.00 mil. GT Floaters : 1~2 units Fixed Platform : 3~4 units Pipeline laying : 30km Power plant : 1,000MW (4~5 projects) Large Engines (500 units) :18 mil bhp Medium (1800 Units) : 5 mil bhp Transformer (620 units) 120,000 MVA 29,000 units (Excavators 16,000 units) Solar Cell/module : 510 MW Wind Turbine : 600 MW Division Main Products Major Clients Competitors Capacity Sales 2013(E) 39% 18% 5% 11% 12% 13% 1% * Others : 1% • Excavators • Wheel Loaders • Forklifts • Skid Loaders • VLCCs, Tankers, Product Carriers, Chemical Tankers • Containerships, Bulk Carriers, OBO Carriers • Ro-Pax Ships, Ro-Ro Ships, Pure Car Carriers Tankers / VLCCs • LNG Carriers, LPG Carriers • Drillships • Submarines, Destroyers, Frigates • Floating Units: FPSOs, FLNGs, FPUs, TLPs, Semi- Submersible Units • Fixed Platforms: Topsides, Jackets & Piles, Jack-ups, Modules & Quarters • Pipelines & Subsea Facilities: Subsea Pipelines • Offshore Installations: Platforms, Pipelines • Land-Based Modules • Power Plants: Combined-Cycle, Cogeneration, and Thermal Power Plants • Process Plants: Oil and Gas, Refinery, Tank Farm, GTL, and LNG Facilities • Plant Equipments: Industrial Boiler, HRSG, CFBF Boiler, Regenerator & Reactor • Two-Stroke Diesel Engines, Four- Stroke(HiMSEN)Engines • Propellers and Crankshafts • Steam Turbines and Turbochargers • Diesel and Gas Power Plant Engines • Industrial and Marine Pumps, Industrial Robots, Side Thrusters • Presses, Conveyor Systems, and Steel Strip Process Lines • Transformers, Gas Insulated Switchgear, Switchgear • Low- and Medium-Voltage Circuit Breakers • Rotating Machinery • Power Electronics and Control Systems Green Energy • Solar/Wind Power Systems
  11. 11. 11 Power Plant 44% Oil & Gas 32% Others 24% Marine Engine 78% Power Plant Engine 8% Hydraulic Machinery 4% Robotics 10% Fixed Platforms& Floaters 79% Shipbuilding 5% Subsea Pipeline 16% Shipbuilding Offshore & Engineering Electro Electric Systems Industrial Plant & Engineering Engine & Machinery Sales Breakdown by Product * The above results are based on K-IFRS 2012 sales. Construction Equipment Green Energy • Solar Power : 90% • Wind Power : 10% Excavator 59% Folk Lift 15% Wheel Loader 11% CKD 7% Others 8% Transformer 34% High Voltage Circuit Breaker 15% Low Voltage Circuit Breaker 6% Switchgear 16% Rotating Machinery 25% Others 4% Container ship 33% Tanker 21% Bulker 2% Drillship 21% P/C 4% Special 4% PCTC 2% LPG 5% LNG 7% Others 1%
  12. 12. 12 2012 2013(E) Change Shipbuilding 9,766.4 10,475.0 7.3% Offshore & Engineering 4,372.7 4,900.0 12.1% Industrial Plant 1,479.7 1,357.6 -8.3% Engine & Machinery 2,967.4 2,821.3 -4.9% Electro Electric Systems 2,842.7 3,134.0 10.2% Construction Equipment 3,120.2 3,600.0 15.4% Green Energy 344.2 385.0 11.9% Others 161.7 184.1 13.9% Total 25,055.0 26,857.0 7.2% 19,567.0 29,676.0 - 10,000.0 20,000.0 30,000.0 40,000.0 2012 2013(E) 2013 Business Plan Sales (bil. KRW) 2012 2013(E) Change Shipbuilding 6,143.0 7,750.0 26.2% Offshore & Engineering 2,072.0 6,000.0 189.6% Industrial Plant 4,077.0 6,000.0 47.2% Engine & Machinery 1,858.0 3,100.0 66.8% Electro Electric Systems 2,318.0 3,160.0 36.3% Construction Equipment 2,773.0 3,272.0 18.0% Green Energy 326.0 394.0 20.9% Total 19,567.0 29,676.0 51.7% New Orders (mil. USD) New orders (mil. USD) +51.7% 25,086.0 26,857.0 - 10,000.0 20,000.0 30,000.0 2012 2013(E) Sales (bil. KRW) +7.2%
  13. 13. 13  25 affiliated companies in Hyundai Heavy Industries Group (Overseas corporations excluded) Affiliates • Changjuk Wind Power : As of Jan. 3. 2011, the date of addition as an affiliate • Hyundai Energy & Resources : As of May. 2. 2011, the date of addition as an affiliate • New Korea Country Club & Hyundai Oil Terminal Co., Ltd.: As of March. 2. 2012, the date of addition as an affiliate
  14. 14. 14 Vladivostok Tokyo Beijing Hyundai Financial Leasing Co., Ltd. Grand China Shipping (Hong Kong) Company Limited Chanzhou Singapore MumbaiDubai Jebel Ali Abu Dhabi Atlanta (office, incorporated) New Jersey Houston Istanbul Athens Luanda Nigeria Oslo Rotterdam London France Hyundai Ideal Electric Co. Osaka Moscow NIKORMA HHI China Investment Co., Ltd. Tai’an Saudi Arabia Al Khobar Fujairah Alabama Shandong Yantai Kuwait Kuwait Offset Spain Hungary Offices (22) Production & Sales(14) Management(5) Construction(4) Sales (3) R&D(2) Region Overseas office Incorporated firm (*1) Total Europe 6 7 13 America 3 4 7 Asia 4 13 17 Middle East / Africa 9 4 13 Total 22 28 50 India Bulgaria Belgium Germany Hyudai Heavy Industries shanghai R&D Co., Ltd. VGF (in process) Brazil Established 22 Overseas offices and 28 Incorporated firms, a total of 50 global network. • 22 overseas offices - Europe : 6, America : 3, Asia : 4, Middle East / Africa : 9 • 28 Incorporated firms - Production/sales : 14, Sales : 3, Construction : 4, Management : 5, R&D : 2 【Europe】 【Middle East / Africa】 【Asia】 【America】 [HHI] *1: Local site operation basis Yangzhong Global Network Jakarta
  15. 15. 15 Business Performance
  16. 16. 16 2,043 2,809 6,792 8,488 8,272 11,470 15,730 13,635 444 4,061 10,905 6,143 7,7504,357 2,968 3,025 4,917 7,835 7,236 9,290 13,838 10,291 13,147 14,419 13,424 21,926 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 `01 `02 `03 `04 `05 `06 `07 `08 `09 `10 `11 `12 `13 (Target) Shipbuilding Non-Shipbuilding 6,400 5,777 9,817 13,405 16,107 18,706 25,020 27,473 10,735 25,324 New Orders Trend (Mil. USD) 17,209 +51.7% YoY 19,567 29,676
  17. 17. 17 New Orders & Sales by Division * The financial information above is based on K-IFRS * The backlog above is on a delivery basis Backlog 2013 Target July Achieve ment Full Year July Target July Achieve ment Full Year July July Shipbuilding 10,475 6,053 57.8% 9,766 5,616 7,750 5,887 76.0% 6,143 4,361 21,661 Offshore& Engineering 4,900 2,706 55.2% 4,373 2,397 6,000 5,452 90.9% 2,072 1,246 19,839 Industrial Plant &Engineering 1,358 559 41.2% 1,480 752 6,000 176 2.9% 4,077 540 9,303 Engine & Machinery 2,821 1,198 42.5% 2,967 1,463 3,100 1,632 52.6% 1,858 1,350 3,875 Electro Electric Systems 3,134 1,541 49.2% 2,843 1,631 3,160 1,113 35.2% 2,318 1,479 2,410 Construction Equipment 3,600 1,839 51.1% 3,120 2,050 3,272 1,668 51.0% 2,773 1,817 - Green Energy 385 162 42.1% 344 174 394 152 38.6% 326 143 128 Others 184 85 46.2% 162 94 - - - - - - Total 26,857 14,143 52.7% 25,055 14,177 29,676 16,080 54.2% 19,567 10,936 57,216 Sales 2013 2012 (Unit: sales -bil. KRW, New Orders & Backlog -mil. USD) New Orders 20122013
  18. 18. 18 Shipbuilding Bulk CarrierContainerships Special VesselsLPGVLCC Naval ShipsLNG Car CarriersDrillship
  19. 19. 19 16.7 18.1 26.1 18.4 20.5 41.9 44.3 45.1 67.8 93.5 54.2 15.3 37.8 28.1 21.3 21.0 0 20 40 60 80 100 1998 2000 2002 2004 2006 2008 2010 2012 Global Korea Japan China 0 50 100 150 200 02 03 04 05 06 07 08 09 10 11 12 13 VLCC Bulk Carrier(Capesize) Container(4,800TEU) Market (Unit: mil. CGT, Source : Clarkson Research Studies) Newbuilding Price Trend since 2002 Global Demand by vessel types in 2012, 2013 Shipbuilding  2012 : Global contracts reached 21.3 mil. CGT, decreasing by 24% YoY  2013 : Global contracts as of end of July recorded 21.0 mil. CGT increasing by 96% YoY  Newbuilding Benchmark price Index As of the end of July 2013, the shipbuilding price has reduced by 7.9% from the beginning of 2012 - 4,800 TEU containerships -18.64%, Capesize bulk carriers 0% (Source: Clarkson Research Studies / As of Aug. 16 2013) From the beginning of 2012 -VLCC: -9.6% -Capesize B/C: 0% -4,800teu Containership: -18.64% Global Demand (Unit: mil. CGT, Source : Clarkson Research Studies) <New orders in 2013> Korea : 7.5 mil CGT (M/S 35.7 %) China : 8.8 mil CGT (M/S 41.9 %) Japan : 2.4 mil CGT (M/S 11.4 %) 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June July Others LPGC LNGC CNTR B/C T/K 2012 2013 2013.July
  20. 20. 20 Shipbuilding 39.0% Others 61.0% Overview Annual Sales & New Orders (Unit : sales - bil. KRW, New order – mil. USD) Main Products Sales Breakdown by Product (2012) • VLCCs, Tankers, Product Carriers, Chemical Tankers • Containerships, Bulk Carriers, OBO Carriers • Ro-Pax Ships, Ro-Ro Ships, Pure Car Carriers Tankers / VLCCs • LNG Carriers, LPG Carriers • Drillships • Submarines, Destroyers, Frigates Operational Highlights  Completion of Gunsan Shipyard (Mar. 2010)  Investment & Technical Corporation Agreement with OSX (May 2010) 10% of stake in OSX(USD 61.9 mil.) in exchange for technical advise for establishment of a shipyard  Delivery of first drillship (Sept. 2010)  Delivery of 1,700th vessel (Jan. 2011) Shipbuilding <July 2013> - Sales : 6,053 -New order : 5,887 Sales Contribution(2012) * 2005 ~ 2009 sales are based on K-GAAP. 6,443 7,557 9,084 9,003 7,849 9,487 9,766 10,475 11,470 15,730 13,635 444 4,061 10,905 6,143 7,750 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 2006 2007 2008 2009 2010 2011 2012 2013(E) Sales New order Container ship 33% Tanker 21% Bulker 2% Drillship 21% P/C 4% Special 4% PCTC 2% LPG 5% LNG 7% Others 1%
  21. 21. 21 Backlog by Shiptype (2013) Performance New Orders in 2013 2012 Jan. Feb. Mar. Apr. May Jun. Jul. Total Target Achievement Details (mil. USD) # of ship 38 9 0 6 12 9 10 10 56 - - Amount (mil. USD) 6,143 937 0 570 1,049 1,733 681 917 5,887 7,750 76.0% New Orders by Shiptype (2013) Shipbuilding -20 Containerships (2,204) -14 LPG Carriers (999) -8 Bulk Carriers (406) -5 Tankers (252) -4 Special Vessel (518) -2 LNG Carriers (436) -2 Others (443) -1 Semi Submersible Rig (629) • Backlogs as of July 2013 on a delivery basis : 132 vessels, USD 21.66 bil. • The above data is based on the amount• The above data is based on the amount Bulker 7% LNG Carrier 7% Others 17% Containership 37% Tanker 4%LPG Carrier 17% Semi Submersible Rig 11% Container ship 20% Tanker 4% LNG Carrier 18% LPG Carrier 7% Drillship 31% Special & Naval 8% Others 4% Semi Submersible RIg 6% Bulkers 2%
  22. 22. 22 5.1 6.4 6.2 4.8 6.2 6.0 0.3 0.8 1.8 0.9 1.1 0.30.9 0.8 1.2 0 1 2 3 4 5 6 7 8 9 10 2007 2008 2009 2010 2011 2012 Gunsan Offshore Ulsan 5.4 7.2 8.0 6.6 7.5 8.1 Delivery Annual Delivery (mil. GT) Annual Delivery (number of vessels) 2007 2008 2009 2010 2011 2012 Ulsan 75 88 80 55 71 69 Offshore (on-ground building) 6 14 25 14 13 4 Gunsan - - - 10 9 11 Total # of Ship 81 102 105 79 93 84 Shipbuilding
  23. 23. 23 Offshore & Engineering FPSO Semi-Submersible UnitDrilling Rig Subsea Pipeline
  24. 24. 24 Offshore & Engineering 18.0% Others 82.0% 1,935 2,222 3,095 3,423 3,413 3,729 4,373 4,900 1,997 1,102 2,978 2,352 3,069 4,480 2,072 6,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2006 2007 2008 2009 2010 2011 2012 2013(E) Sales New order Sales Contribution (2012) Overview (Unit : sales - bil. KRW, New order – mil. USD) Annual Sales & New Orders Sales Breakdown by Product (2012) • Floating Units: FPSOs, FLNGs, FPUs, TLPs, Semi Submersible Units • Fixed Platforms: Topsides, Jackets & Piles, Jack-ups, Modules & Quarters • Pipelines & Subsea Facilities: Subsea Pipelines • Offshore Installations: Platforms, Pipelines • Land-Based Modules Main Products Operational Highlights Offshore & Engineering <July 2013> - Sales : 2,706 - New order : 5,452 * 2005 ~ 2009 sales are based on K-GAAP. Fixed Platforms& Floaters 79% Shipbuilding 5% Subsea Pilepline 16%  Received USD 1.1 bil. of Goliat FPSO order (Feb. 2010)  Received USD 0.9 bil. of Barzan offshore platform order (Jan. 2011)  Received USD 1.2 bil. of BP Q204 FPSO order (Feb. 2011)  Received USD 0.6 bil. of BP Clair Ridge platform order (Mar. 2011)  Received USD 1.1 bil. of Aasta Hansteen Topside order (Jan. 2013)  Received USD 1.9 bil. of Moho Nord TLP & FPU order (Mar. 2013)  Received USD 1.9 bil. of Rosebank FPSO order (Apr. 2013)
  25. 25. 25 Performance New Orders by Type ($ mil.) 2008 2009 2010 2011 2012 July 2013 Fixed 1,113 2,196 1,501 2,121 1,621 194 Floating 1,704 46 1,303 1,819 412 5,178 Subsea Pipeline 145 100 252 539 31 58 Others 16 9 13 1 8 22 Total 2,978 2,351 3,069 4,480 2,072 5,452 Performance Record Major Projects in 2009/2010  Gorgon LNG (Oct. 2009) - LNG processing modules fabrication ($2.1 bil. from Chevron)  Myanmar SHWE Field development project (Feb. 2010) - Installation of gas production & processing platform, pipeline & onshore terminal ($1.4 bil. from Daewoo International Corp.)  Goliat FPSO (Feb. 2010) - Cylindrical Floating Production Storage Offloading unit ($1.1 bil. from ENI Norge AS) Offshore & Engineering (1976 ~ July 2013) Total number of projects Major Projects Platforms 84 · Bongkot 4A Platform (PTTEP, 2012) Onshore Facilities 10 · Sakhalin-1 OPF Onshore Modules Fabrication(ExxonMobil, 2006) Jack-up rig 3 · Harsh Environment Jack-up PDQ (BP, 1994) Semi-submersible Drilling Rig 10 · Deepwater Horizon Semi- Submersible Drilling Unit (R & B Falcon, 2000) FPSO 10 · Usan FPSO (TOTAL, 2012) TLP 2 · West Seno Field Development (Chevron, 2003) FPU 4 · Moho Bilondo FPU (TOTAL, 2008) 5,192 km · Paradip SPM Pipeline (IOCL, 2012) Fixed Floating Subsea Pipelines Type
  26. 26. 26 Performance Major Projects Awarded in 2011  Qatar, Barzan Offshore Project - Date : Jan. 2011 - Price : USD 860 million - Owner : RasGas Company - Completion : Nov. 2013 - Details : Fabrication and Installation of Wellhead Platforms, Living Quarters, Onshore & Offshore pipeline (EPC) Offshore & Engineering  UK, Q204 FPSO  UK, Clair Ridge Platform - Date : Feb. 2011 - Price : USD 1.2 billion - Owner : BP - Completion : May 2016 - Details : Construction of FPSO (EPC), Processing 0.32 million bpd, storing 0.8 million bbls - Date : Mar. 2011 - Price : USD 620 million - Owner : BP - Completion : Nov. 2014 - Details : Fabrication and Installation of Drilling and Quarters Platforms (EPC)
  27. 27. 27 Performance  Norway, Aasta Hansteen Spar Topside - Date : Jan. 2013 - Price : USD 1.1 billion - Owner : Statoil - Completion : Feb. 2016 - Details : Fabrication and Installation of Spar Topsides (EPC) Offshore & Engineering  Congo, Moho Nord TLP & FPU  UK, Rosebank FPSO - Date : Mar. 2013 - Price : USD 1.9 billion - Owner : Total - Completion : May 2015 (TLP) Jun. 2016 (FPU) - Details : Fabrication and Installation of Tension Leg Platform and Floating Production Unit (EPC) - Date : Apr. 2013 - Price : USD 1.9 billion - Owner : Chevron - Completion : Nov. 2016 - Details : Construction of FPSO (EPC) Processing 100,000 BOPD (Oil), 190 MMSCFD (Gas), storing 1.05 million bbls  TLP (Tension Leg Platform)  FPU (Floating Production Unit) Major Projects Awarded in 2013
  28. 28. 28 Industrial Plant & Engineering Co-Generation Plant Process PlantThermal Power Plant Combined Cycle Power Plant
  29. 29. 29 Industrial Plant & Engineering 5.0% Others 95.0% 602 1017 1374 1898 2645 2761 1480 1358 846 1,544 2,076 2,826 2,010 1,014 4,077 6,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2006 2007 2008 2009 2010 2011 2012 2013(E) Plant Sales Plant New order Sales Contribution (2012) Overview (Unit : sales - bil. KRW, New order – mil. USD) Annual Sales & New Orders Sales Breakdown by Product (2012) Main Products  Power Plants Combined-Cycle, Cogeneration, and Thermal Power Plants • Process Plants Oil and Gas, Refinery, Tank Farm, GTL, and LNG Facilities • Plant Equipments Industrial Boiler, HRSG(Heat Recovery Steam Generator), CFBC(Circulating Fluidized Bed Combustor) Boiler, Regenerator & Reactor Operational Highlights Industrial Plant & Engineering <July 2013> - Sales : 559 - New order : 176 * 2005 ~ 2009 sales are based on K-GAAP. • Received a USD 1.0 bil. Das Island order (Jul. 2009) • Received a USD 2.6 bil. Sabiya order (Sept. 2009) • Signed an MOU for supplying ITER vacuum vessel (Jan. 2010) • Received a USD 1.6 bil. Riyadh order (Jun. 2010) • Received a USD 3.2 bil. Jeddah South order (Oct. 2012) • Received a USD 3.3 bil. Shuqaiq order (Aug. 2013) Power Plant 44% Oil & Gas 32% Others 24%
  30. 30. 30 Performance Performance Record New Orders by Type (mil. USD) 2008 2009 2010 2011 2012 July 2013 Power Plants 1,727 1,412 1,601 9 3,510 49 Chemical Plants 117 1,177 145 493 253 2 Plant equipment 232 237 264 512 314 125 Total 2,076 2,826 2,010 1,014 4,077 176 Industrial Plant & Engineering Major Projects in 2012/2013 (1976 ~ July 2013) Project Type Major Projects Oil & Gas Oil & Gas · Integrated Gas Development (IGD) Project (ADGAS, UAE, 2013(E)) · Escravos Gas Plant Phase Ⅲ (Chevron Nigeria Ltd., Nigeria, 2010) · Bonny Terminal Integrated Project (Shell Petroleum Development, Nigeria, 2008) Tank Farm · KOC Crude Oil Export Facilities Project (Kuwait Oil Company, 2008) · JPR Zarpa Tank Farm Project (Jordan Petroleum Company, 2000) Refinery & Petrochemical · Jazan Refinery and Terminal Project, Package. 2 (Saudi Aramco, 2016(E)) · HCP No.2 BTX Project Daesan (HC Petrochem, Korea, 2013(E)) · Mumbai Diesel Hydro-Desulfurization Project (Hindustan Petroleum Company, India, 2000) · HPC 2nd Petrochemical Complex Project (Hyundai Oilbank, 1997) Gas To Liquid · Pearl GTL Feed Gas Preparation Project (Qatar Shell, 2011) Power Combined Cycle/ Simple Cycle Power Plant · Riyadh PP 11 Independent Power Project (Dhuruma Electricity Company, Saudi Arabia, 2013(E)) · Sabiya Combined Cycle Gas Turbine Project (Ministry of Electricity and Water, Kuwait, 2013(E)) · Al Dur Independent Water and Power Project (Al Dur Power & Water Co., Bahrain, 2012) · Marafiq Independent Water and Power Project (Jubail Water and Power Company, Saudi Arabia, 2010) · Shaybah Power Generation Project (Saudi Aramco, Saudi Arabia, 2008) Cogeneration · Tihama Cogeneration Expansion Project Stage II (Tihama Power Company, Saudi Arabia, 2015(E)) · Saudi Aramco 3rd party Cogeneration Program (Tihama Power Company, Saudi Arabia, 2006) Thermal · Jeddah South Thermal Power Plant (Saudi Electricity Company, Saudi Arabia, 2017(E)) · Namjeju #3&4 Thermal Power Plant (KEPCO, Korea, 2007) · Makkah-Taif Thermal Power Plant (Saline Water Conversion Corporation, Saudi Arabia, 1989) Desalination Plant · Taweelah A1 (ADWEA, UAE, 2002) · Taweelah B (ADWEA, UAE, 1995) · Umm Al Nar West (ADWEA, UAE, 1982) · Al Khobar Phase 2 (SWCC, Saudi Arabia,1981)  Jeddah South (Oct. 2012) - 3.2 bil. USD / Saudi Electricity Company, Saudi Arabia - 2,400MW Oil fired Conventional Power Plant  Shuqaiq Steam Power Plant (Aug. 2013) - 3.3 bil. USD / Saudi Electricity Company, Saudi Arabia - 2,640MW Oil fired Conventional Power Plant
  31. 31. 31 Engine & Machinery Marine Engine & Equip. Marine & Industrial Turbine Industrial & Marine Pump Industrial Robot & System Marine Propeller
  32. 32. 32 Overview (Unit : sales - bil. KRW, New order – mil. USD) Annual Sales & New Orders Engine & Machinery Sales Breakdown by Product (2012) Main Products & Capacity Operational Highlights • Two-Stroke Diesel Engines (500 units, 18 mil. BHP) • Four-Stroke(HiMSEN) Engines (1,800 units, 5 mil. BHP) • Diesel and Gas Power Plant Engines • Propellers and Crankshafts • Steam Turbines and Turbochargers • Industrial and Marine Pumps, Industrial Robots, Side Thrusters • Presses, Conveyor Systems, and Steel Strip Process Lines <July 2013> -Sales : 1,198 -New order : 1,632 Sales Contribution (2012) * 2005 ~ 2009 sales are based on K-GAAP.  Surpassed cumulative four-stroke engine production of 20 mil. bhp (Mar. 2010)  Production of eco-friendly marine engine meeting new IMO standards (Mar. 2010) • Received a 95MW PPS order from Venezuela (Apr. 2010) • Received a 75MW diesel power plant order from Bangladesh (Apr. 2010) • Development of high output eco-friendly gas engine (May 2010) - 20% reduction of CO2 emission and 97% reduction of NOX emission  Surpassed cumulative two-stroke engine production of 100 mil. bhp (Sept. 2010)  Production of 1,000th Packaged Power Station (Jul. 2012) Engine & Machinery 11.0% Others 89.0% Marine Engine 78% Power Plant Engine 8% Hydraulic Machinery 4% Robotics 10% 1,220 1,646 2,522 2,772 2,835 3,096 2,967 2,821 1,880 3,248 4,646 1,452 2,283 3,176 1,858 3,100 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 2006 2007 2008 2009 2010 2011 2012 2013(E) Sales New order
  33. 33. 33 Performance  Eco-Friendly Diesel Engine -15 % reduction of NOx emission meeting new IMO standards  High output Eco-Friendly HiMSEN Gas Engine - 20% reduction of CO2 emission compared to diesel engine - 97% reduction of NOX emission to reach the world’s lowest level of 50ppm - 47% improvement in engine performance Ship Engine New Orders by Region Engine & Machinery Market Share in 2012 (%) Large-size Marine Engine Medium-size Marine Engine Propeller Diesel power plant Domestic 52 50 90 95 Global 35 23 23 7  Diesel Power Plants order from Bangladesh (Apr. 2010) - USD 70 mil. order for 70 MW diesel power plants from Bangladesh Power Development Board (BPDB) Eco-friendly Engine products Major Projects in 2010, 2011  PPS order from Venezuela (Apr. 2010) - USD 160 mil. order for 204 MW, 120 Packaged Power Stations from electricity company Electricidad de Caracas, Venezuela  Diesel Power Plants order from Ecuador (May 2011) - USD 74 mil. order for 140 MW diesel power plants from Equitatis, Equador 57% 45% 67% 92% 83% 87% 39% 44% 33% 8% 9% 9% 3% 11% 8% 4% 2007 2008 2009 2010 2011 2012 Domestic China Others
  34. 34. 34 Electro Electric Systems Transformers High Voltage Circuit BreakersSwitchgears Marine Electrical Equip.
  35. 35. 35 1,057 1,453 1,925 2,712 3,242 2,319 2,843 3,134 1,274 1,766 2,281 2,556 3,793 2,625 2,318 3,160 0 1,000 2,000 3,000 4,000 2006 2007 2008 2009 2010 2011 2012 2013(E) Sales New Orders Overview (Unit : sales - bil. KRW, New order – mil. USD) Sales Contribution (2012) Annual Sales & New Orders Operational Highlights Main Products Electro Electric Systems Sales Breakdown by Product (2012) • Transformers (up to 765kV, 1,300MVA), Gas Insulated switchgear(25.8kV~800kV), Low voltage Switchgear • Low and Medium Voltage Circuit Breakers • Rotating Machinery • Power Electronics and Control Systems <July 2013> - Sales : 1,541 - New order : 1,113 * 2005 ~ 2009 sales are based on K-GAAP. Electro Electric Systems 12.0% Others 88.0%  Awarded Asia-Pacific Power Transmission Equipment Company of the Year by Frost & Sullivan (Aug. 2009)  Received USD 0.25 bil. transformer order from South Africa (Nov. 2009)  Received USD 0.6 bil. transformer order from the US (May 2010)  Reached the transformer production milestone of 700,000MVA (Dec. 2010)  Received 1,000 GIS order from Russia (Jun. 2011) Transformer 34% High Voltage Circuit Breaker 15% Low Voltage Circuit Breaker 6% Switchgear 16% Rotating Machinery 25% Others 4%
  36. 36. 36 Performance Sales by Region Electro Electric Systems • US transformer long-term supply contract (May 2010) Major performance - USD 600 mil. Order for supplying transformers ranging from 230kV to 500kV to Southern California Edison(SCE) for 10 years from 2010 to 2019 - Largest transformer order to date * The sales of Green Energy division is not included in 2011 & 2012 results * 2007 ~ 2009 sales are based on K-GAAP. 14% 14% 14% 11% 12% 4% 3% 4% 6% 9% 6% 4% 2% 1% 3% 7% 11% 20% 5% 7% 16% 29% 18% 18% 21% 3% 3% 4% 8% 2% 49% 35% 38% 51% 46% 2008 2009 2010 2011 2012 Domestic Others Middle East Europe Africa Asia North America Major Projects Project Type Major Projects Generator Installation · West Generating Project (U.S.A) Power Transmission & Mutation Installation · British Columbia Hydro & Power Authority (Canada) Iron Manufacture Installation · NUEVA VENTANAS 240MW Coal Fired Power Project (Chile) Water Treatment & Cement & Petrochemical Installation · KODECO IKC Project (Indonesia) Automotive Goods · Seoul Metro (South Korea) Marine Goods · Royal Nedlloyd Group (Netherlands) Ocean Installation · Al-Jubail Saline Water Conversion (Saudi Arabia) Marine Steam Turbine · Hyundai Merchant Marine LNG Carrier – 22,000MW Marine Steam Turbine (South Korea) Know-how Export · Gas Insulated Switchgear : TATUNG Company (Taiwan) Fresh Water Installation · Shuweihat S2 IWPP Project (U.A.E.)
  37. 37. 37 Construction Equipment Crawler Excavator Wheel Loader Forklift Truck Skid Steer LoaderMini Excavator Wheel Excavator
  38. 38. 38 Construction Equipment 13.0% Others 87.0% 1,198 1,512 1,769 1,190 2,275 3,052 3,120 3,600 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 2006 2007 2008 2009 2010 2011 2012 2013(E) Overview (Unit : sales - bil. KRW) Annual Sales Operational Highlights Main Products Construction Equipment Sales Breakdown by Product (2012) <July 2013> - Sales : 1,839 • Excavators (Local 16,000 units, China 18,874 units, India 1,800 units) • Wheel Loaders (2,900 units) • Forklifts (9,500 units) • Skid Loaders (600 units) Sales Contribution (2012) * 2005 ~ 2009 sales are based on K-GAAP.  Introduction of Hi-Mate remote management system (May 2009)  9-series excavators recognized at Korea’s Pin-up Design Awards (Dec. 2009)  Introduction of new 9-series wheel loader (May 2010)  Breaking ground for wheel loader factory in China (Jul. 2010)  Introduction of 120-ton excavator (Apr. 2011)  Production of 350,000th construction equipment (Oct. 2011) Excavator 59% Folk Lift 15% Wheel Loader 11% CKD 7% Others 8%
  39. 39. 39 Construction Equipment Sales by Region Performance Construction Equipment Excavators Sales in China ※ Others includes Middle East (14%), Russia (9%), South America (7%), Southeast Asia (6%), Africa (6%), Turkey, Australia and etc. July 2012 July 2013 YoY Market 77,329 70,382 -9.0% H H I 6,561 5,405 -17.6% M/S 8.5% 7.7% -0.8%p Excavator Sales in China HHI’s Excavator Market Share by Region ※ 2007 ~ 2009 sales are based on K-GAAP. (Source : Company data) (Source : China construction machinery association) 41,500 60,856 71,767 93,237 162,908 162,908 104,908 70,382 9,138 9,495 8,377 10,101 18,467 17,294 8,540 5,405 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 0 30,000 60,000 90,000 120,000 150,000 180,000 2006 2007 2008 2009 2010 2011 2012 2013.July Market size(Left) HHI(Right) 6% 6% 2% 3% 3% 3%3% 4% 6% 10% 21% 17% 3% 6% 7% 8% 20% 17% 28% 22% 17% 16% 14% 11% 25% 27% 19% 4% 5% 39% 49% 39% 38% 48% 54% 2007 2008 2009 2010 2011 2012 Others Brazil China Domestic Europe North America India 2010 2011 2012 Domestic 33.2% 32.4% 27.5% Global 8.6% 8.0% 8.7% China 11.3% 10.2% 8.1% India 11.3% 13.9% 17.3%
  40. 40. 40 Green Energy Solar Power Wind Power
  41. 41. 41 Solar Cell Solar Module Thin-film Solar module Solar System (Inverter) Picture Facilities Solar Cell Plant (Eumseong, Korea) Solar Module Plant (Eumseong, Korea) Hyundai Avancis (Ochang, Korea) Electro Electric Systems Division (Ulsan, Korea) Annual Capacity (2012) 600MW 600MW 100MW 500MW Details - Mono-crystalline, Poly- crystalline solar cells produced - 54 cell(6X9), 60 cell(6X10), 72 cell(6X12) modules produced - JVC with Saint-Gobain (50:50) - CIGS (Cu, In, Ga, Se) thin- film solar module produced - Grid-Tied Solar Inverter with/without transformer Solar Power  Vertically Integrated Solar company with 600MW capacity of polysilicon-based solar modules  Thin-film solar cell production facility with 100 MW capacity in 2013  Capacity and Sales 2005 2007 2008 2009 2010 2011 2012 Capacity Cell (MW) 30 30 60 370 370 580 600 Modules (MW) 20 30 70 170 510 560 600 Sales (KRW bil.) % of total HHI Sales 50 0.4% 107 0.6% 150 1.3% 591 2.6% 399 1.6% 344 1.4%  Solar Product Certification - UL Listed - IEC 61215 edition 2, IEC 61730 (TUV) - J-PEC - JET Cert - CE Declaration - MCS (UK) - CSTB (France) - Ammonia resistance test* The above capacity expansion and sales plan is subject to change according to the market situation.
  42. 42. 42 Wind Power - HHI’s production : Nacelle part (Geared & Gearless) - Outsourcing : Rotor Part (Blade, Hub), Tower Generator (HHI) Gear box (Jake) Power converter (HHI) Transformer (HHI) (Installed in Tower)  Wind Turbine Production facilities  HHI’s Products & Certification (Geared Type) Model Rated Power (MW) Gear Type Installation Type On Market HQ1650 1.65 Geared Onshore Jun. 2009 HQ2000 2.0 Geared Onshore Jun. 2010 HQ5500 5.5 Geared Offshore - Nacelle Part Wind Turbine System Structure Company Name Details Wind Turbine plant (HHI) - Located in Gunsan, Korea - Annual Capacity: 600MW - Capex: KRW 110 bil. Weihai Hyundai Wind Power Technology - Located in Weihai, China - Annual Capacity: 600MW (2MW X 300 units) - JVC with Datang Shandong Power Generation (80% by HHI) Jahnel-Kestermann (Jake) - Located in Bochum, Germany - Annual Capacity: approx. 500 units of gearbox * On Market: based on proto-type installation date
  43. 43. 43 Subsidiaries
  44. 44. 44 Hyundai Oilbank Refining Unit Upgrading Unit Crude oil 100% (390,000 b/d) LPG, Naphtha, Gasoline 19% Kerosene, Diesel 37% Bunker C 44% Gasoline, LPG 46% Diesel 37% Propylene 9% Others 8% Total CAPEX : KRW2.6 tril. (JUl. 2006~ Feb. 2011) • Completion of # 2 HOU Plant 34.4% With the completion of # 2 HOU plant in Jan., 2011, Hyundai Oilbank achieved a ratio of 34.4%, the highest upgrading ratio in the industry At a Glance • Domestic Light Oil Market Share 22.1% Number of Service Stations : 2,359 * As of November 2012 • Production Capacity 390,000B/D #1 : 110,000 B/D, #2 : 280,000 B/D Facilities & Products • HHI’s Management Control 91.1% Acquired by HHI in Aug., 2010
  45. 45. 45 2010 2011 2012 2013. 1H Sales 13,295.4 18,958.6 21,523.9 9,716.9 Operating Income 235.4 594.7 308.4 255.6 % 1.8 3.1 1.4 2.6 Net Income 409.2 360.7 156.5 66.3 % 3.1 1.9 0.7 0.7 (Unit: KRW billion) Income Statement 2010 2011 2012 2013. 1H Total Assets 7,323.2 8,642.6 8,506.5 8,989.8 Total Liabilities 4,887.3 5,899.5 5,618.8 6,035.0 Total Shareholder’s Equity 2,435.8 2,743.2 2,887.6 2,954.8 Liabilities-to- Equity Ratio(%) 200.6 215.1 194.6 204.2 (Unit: KRW billion) Financial Position Hyundai Oilbank * The financial information of 2009 is based on K-GAAP. 20122010 2011 7,323.2 8,642.6 8,506.5 200.6% 215.1% 194.6% Assets Liabilities- to-Equity Ratio 235.4 594.7 308.4 13,295.4 18,958.6 21,523.9 Operating Income Sales 20122010 2011
  46. 46. 46 Containership 16% Bulker 6% P/C 8% LNG Carrier 29% LPG Carrier 6% Semi Submersible Rig 11% FPU Hull 4% PCTC 13% Tanker 7% New Orders in 2013 2012 Jan. Feb. Mar. Apr. May Jun. Jul. Total Target Achievement Details (mil. USD) # of ship 16 0 0 10 10 6 0 13 39 36 108.3% Amount (mil. USD) 2,508 0 0 716 689 396 0 1,031 2,832 4,500 62.9% At a Glance Hyundai Samho • Production Capacity 4.3 mil. GT - Delivered 42 vessels in 2012 - # of dry docks : 2 • 2013 Order Target • 2013 Sales Target Backlog by Shiptype (2013) 4,500 mil. USD 3,717 bil. KRW • Backlogs as of July 2013 on a delivery basis : 65 vessels, USD 6.89 bil. • The above data is based on the amount -11 P/Cs (547) -10 PCTCs (687) -6 LPG Carriers (450) -4 Bulk Carriers (254) -4 Containerships (322) -2 Tankers (114) -1 FPU Hull (270) -1 High Lift Vessel (188)
  47. 47. 47 2010 2011 2012 2013. 1H Sales 4,316.6 4,828.7 4,231.8 1,798.9 Operating Income 830.3 804.3 254.0 16.9 % 19.2 16.7 6.0 0.9 Net Income 631.6 551.0 -13.4 20.5 % 14.6 11.4 -0.3 1.1 (Unit: KRW billion) Income Statement 2010 2011 2012 2013. 1H Total Assets 7,262.8 6,954.7 6,978.9 6,696.2 Total Liabilities 4,325.8 3,741.7 3,641.1 3,390.1 Total Shareholder’s Equity 2,937.0 3,213.0 3,337.7 3,306.1 Liabilities-to- Equity Ratio(%) 147.3 116.5 109.1 102.5 (Unit: KRW billion) Financial Position 2010 2011 2012 20122010 2011 Hyundai Samho * The financial information of 2009 is based on K-GAAP. 830.3 804.3 254.0 4,316.6 4,828.7 4,231.8 Operating Income Sales 7,262.8 6,954.7 6,978.9 147.3% 116.5% 109.1% Assets Liabilities- to-Equity Ratio
  48. 48. 48 Financial Performance
  49. 49. 49 455 275 -1 879 1,751 2,206 2,223 3,632 2,629 1,285 5.6% 3.4% 0.0% 0.9% 7.0% 11.3% 11.1% 10.5% 16.2% 10.5% 5.1% -2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% -500 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 `02 `03 `04 `05 `06 `07 `08 `09 `10 `11 12 8,134 8,153 9,084 10,354 12,555 15,533 19,957 21,142 22,408 25,020 25,055 0 5,000 10,000 15,000 20,000 25,000 30,000 `02 `03 `04 `05 `06 `07 `08 `09 `10 `11 12 Sales (KRW bil.) Operating profit (KRW bil.) (Data from 2010 are based on K-IFRS) Sales & Operating Profit (Parent) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Sales 8,134 8,153 9,084 10,345 12,555 15,533 19,957 21,142 22,408 25,020 25,055 Operating Profit 455 275 -1 91 879 1,751 2,206 2,223 3,632 2,629 1,285 Net Income -245 114 37 74 713 1,736 2,257 2,147 2,835 1,946 1,105 49
  50. 50. 50 Capital Structure (Parent) (Unit : bil. KRW) (Data from 2010 are based on K-IFRS) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Assets 9,778 10,604 10,930 11,593 12,996 16,824 25,280 24,873 28,570 29,921 30,638 Liabilities 6,874 7,128 7,309 7,832 8,675 11,333 19,685 15,064 15,498 15,201 15,448 Shareholder's Equity 2,904 3,476 3,621 3,659 4,321 5,448 5,595 9,808 13,073 14,719 15,190 Liabilities-to-Equity Ratio 236.7% 205.1% 201.9% 214.0% 200.8% 208.0% 351.8% 153.6% 118.5% 103.3% 101.7% 236.7% 205.1% 201.9% 214.0% 200.8% 208.0% 351.8% 153.6% 118.5% 103.3% 101.7% 0% 50% 100% 150% 200% 250% 300% 350% 400% 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 50
  51. 51. 51 Statements of Comprehensive Income (K-IFRS consolidated)  2Q 2013 sales recorded KRW 13,091 bil., operating income 289.0 bil. - QoQ : Despite sales increase in other major segments, overall sales decreased due to a regular maintenance of #2 CDU in Refinery segment. Operating income decreased due to sales decline and worsening of cracking margin in Refinery segment. - YoY : Sales decreased due to fall in oil prices and a regular maintenance of #2 CDU in Refinery segment. Operating income decreased due to profit decline in Shipbuilding / Engine & Machinery segment. (unit : bil. KRW) 1Q 2013 2Q 2012 QoQ YoY 13,091.0 -0.4% -4.4% 13,142.9 13,700.4 Cost of sales 12,029.9 -0.8% -5.6% 12,132.5 12,736.8 1,061.1 5.0% 10.1% 1,010.4 963.6 289.0 -23.5% -20.2% 377.7 362.2 2.2% -0.7%p -0.4%p 2.9% 2.6% 364.0 - - 388.8 153.5 (558.7) - - (406.0) (255.8) Equity method income (0.4) - - (14.0) (48.2) 93.9 -72.9% -55.6% 346.5 211.7 69.3 -78.3% -49.2% 319.7 136.4 0.5% -1.9% -0.5%p 2.4% 1.0% 100.6 -68.4% -25.0% 318.4 134.2 Profit attributable to owners of the company Net income margin 2Q 2013 Net income Operating income Other non-operating income Sales Gross profit Net income before income taxes Operating income margin Finance income
  52. 52. 52 Statements of Financial Position (K-IFRS consolidated) (unit: bil. KRW) As of Jun.30 2013 As of Dec.31 2012 Total Assets 52,724.0 49,273.1 3,450.9 7.0% 28,585.4 25,278.6 3,306.8 13.1% 1,908.7 1,107.7 801.0 72.3% 24,138.6 23,994.5 144.1 0.6% 33,610.5 30,531.8 3,078.7 10.1% 25,179.4 22,174.0 3,005.4 13.6% 8,431.1 8,357.8 73.3 0.9% 19,113.5 18,741.3 372.2 2.0% 175.8% 162.9% 12.9%p - 76.6% 79.1% -2.5%p - Total borrowings 14,643.8 14,826.5 (182.7) -1.2% Libilities-to-Equity Ratio Change Debt-to-Equity Ratio Current Assets Non-current Assets Total Liabilities Current Liabilities Non-current Liabilities Shareholders' Equity *Cash & Cash Equivalents ※ Debt status of major consolidated subsidiaries As of Jun. 30 2013 : HHI 6,480 Hyundai Oilbank 3,095 HSHI 1,617 HI Investment & Securities 1,982 As of Dec. 31 2012 : HHI 6,542 Hyundai Oilbank 3,005 HSHI 1,916 HI Investment & Securities 1,829 52
  53. 53. 53 Q & A
  54. 54. 54 Thank You Http://www.hhiir.com *For More Information IR Team E-mail: hhiir@hhi.co.kr Tel: +82-2-746-4728, 4546, 7858 Fax: +82-746-4662 Website: www.hhi.co.kr (Company) /www.hhiir.com (IR)

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