Investor Relations H Business Performance

Transcription

1 Investor Relations H Business Performance

2 GLOVIS Industry Status Growth Potentials 1H Result Appendix Overview Automobile Finished Car Summary Summarized F/P GLOVIS Vision Shipping Raw Material CKD Business Sales Analysis SG&A Analysis Summarized I/S Investment Sec. Used Car Business Non-op Analysis 3PL Business

3 GLOVIS Industry Status Growth Potentials 1H Result Appendix Overview Automobile Finished Car Summary Summarized F/P GLOVIS Vision Shipping Raw Material CKD Business Sales Analysis SG&A Analysis Summarized I/S Investment Sec. Used Car Business Non-op Analysis 3PL Business

4 Overview GLOVIS Business Area Competency As of Jun. 30, 2010 Unit : KRW 1BN Total Logistics Korea International Transporting/ Storage/Packaging Equipment Leasing Port Processing Finished Car Shipping Raw Material Shipping In/Outbound (P) YoY % , % Employee Company Korea Certified Professional Logistician : 182 CPIM : 23, CPM : 2 Customs Broker : 5 Certified of Integrated Logistics Comp ( 07) Korea RFID Industrialization Presidential Award Establishment of Logistics Research Institute Korea Logistics Award Presidential Citation Distribution Sales C K D Merchandise HMMA / HMMC KMS / KMMG Used Car Auction Supplies 1, , % % Total 3, , % Overseas Subsidiaries Inland Transporting VPC/PDI/Storage/ Assembling 1, , % Korea Network Overseas IT System 22 Logistics Bases - for Cars : 15 (including CKD Center) -for Used Car: 2 - for Others : 5 21 Logistics Bases - Subsidiary : 17 -Branch: 2 - Office : 2 SCM Systemized throughout total logistics -GTMS (Glovis Transportation Management System) - GLCC (Glovis Logistics Control Center) - WMS (Warehouse Management System) -Goals (Glovis Overseas Advanced Logistics System) - RFID System 4

5 GLOVIS Vision Global Top 10 Integrated Logistics Company Globally Growing Active shipping business Expand CKD business Expand 3rd Party Logistics Logistics Company Representing Asia Expanding Entered into finished car shipping business Expanded CKD business Expanded used car auction center Growth from Business Expansion Preparing Framework to be Global Logistics Company Entered into CKD business Certified as integrated total logistics company Established global network Quickening Automotive Specialized Logistics Company Integrated HKMC s logistics Entered into used car business Frameworked as a automotive specialized logistics company 5

6 GLOVIS Industry Status Growth Potentials 1H Result Appendix Overview Automobile Finished Car Summary Summarized F/P GLOVIS Vision Shipping Raw Material CKD Business Sales Analysis SG&A Analysis Summarized I/S Investment Sec. Used Car Business Non-op Analysis 3PL Business

7 Automobile Market Trend Hyundai Auto Group Sales HAG s 10 Sales Plan & 1H Achievement Domestic Sales Export Sales Unit : 1,000 Cars Unit : 1,000 Cars HMC KMC Description HMC KMC Area 10 Sales (P) 1H '10 Sales Accompl ishment Domestic 1, % International 1, % Domestic 1, % International % Notes 1H 09 1H 10 1H 09 1H 10 Total 5,400 2, % Automobile Market Achievement Automobile Industry Trend Exported Vehicles 1, H 06 M/S of HAG in USA Unit : 1,000 Cars, % 1,424 1,434 1, H 07 1H 08 1H 09 1H 10 Market share goes up on 1H in USA - HMC[4.6%] and KMC [3.0%] to record high percentage Signs of restore for the Big Three - Affirmative prospect on export for K-vendors HAG will increase its competitiveness on 2H 10 - New models (Elantra and etc.), Cost reduction (Sharing platforms) 7

8 Shipping Market Trend Shipping Industry Index Container Traffic and Int l Logistics Sales Trend BDI HR Container Sales Container Traffic, 1,000 TEU 1, , , , , , ,774 3,235 3,421 3, , , Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 Increase of container traffic Improved Bulk Market - Major ports have seen 9.7% of increase on 1H 10 to 1H 09 - Bulk Traffic might increase on 3Q 10 after recent recession - Container Traffic will be increasing on 2H 10 due to high-demand season - Volume of coal and iron ore could go up due to winter season 8

9 GLOVIS Industry Status Growth Potentials 1H Result Appendix Overview Automobile Finished Car Summary Summarized F/P GLOVIS Vision Shipping Raw Material CKD Business Sales Analysis SG&A Analysis Summarized I/S Investment Sec. Used Car Business Non-op Analysis 3PL Business

10 Finished Car (Pure Car Carrier) Finished Car Export (Korea) Korean Cars Exported Hyundai Exported Kia Exported Unit : 1,000 Cars 2,850 2,650 2,680 2, , ,030 1,080 1, H 10 Source : KAMA (Korea Automobile Manufacturer Association), Hyundai and Kia Motors IR Website GLOVIS Finished Car Year Size (CEU) Vessel Name ,200 Asian Sun 4,200 Asian Venture 6,000 Asian Grace 6,000 Asian Chorus 6,000 Asian Legend 6,500 6,500 Investment (USD MN) Condition Bareboat Charter Hire Purchase (BBCHP) New Build Export Routes Global PCC Market As of Jan. 01, 2010 Company Country Fleet # M/S NYK % K-Line Japan % MOL % EUKOR Korea % WWL % Norway Hoegh % Others % Total % Source : World Pure Car Carrier Fleet, Hesnes Shipping AS 10

11 Raw Material Hyundai Steel Blast Furnace Schedule (P) Blast Furnace mill #1 operation Blast Furnace mill #2 operation Blast Furnace mill ㅇ #3 Max. production capacity : 4 MN ton per 1 B.F mill Volume forecast : 20 MN ton per year for 2011~2014 Source : Hyundai Steel Website BF : Blast Furnace Iron Ore Brazil, W.Australia Coal Canada, E.Australia, China Lime Stone Korea, etc. GLOVIS Raw Material Contract 캐나다 Long-term Transporting Contract Long-term Chartering Contract Shipping Companies Type 1st Contract 2nd Contract Long-term Consecutive Voyage Charter Contract Date Jan. 24th, 2008 Nov. 3rd, 2008 Amount USD 1,404 MN USD 1,015 MN Period 2010 ~ 2030 (for 20 yrs) ~ 2025 (for 15 yrs) ~ 2031 (for 20 yrs) # of Vessels 5 vessels 4 vessels (15-yr : 3 vessels, 20-yr : 1 vessel) Public Disclosure Entering into Single Sales or Supply Contract (Jan / Nov. 2008) Article 24 Korean Marine Act : Regulation in transporting of strategic raw materials between specially related companies under the legislative process for deregulation 11

12 CKD Business Supply Status Region Production Capacity Unit : 1,000 Cars Initiation Year Production Status HMMA KMS HMMC KMMG Unit : 1,000 Cars USA (HMMA) Current Czech (HMMC) Slovakia (KMS) USA (KMMG) Turkey New Russia Brazil H 10 M/S Trend in USA Sonata / Mid-Size Tucson / CUV 12.6 Unit : % GLOVIS CKD Business CKD Sales Sales % , % , , , , H 09 1H 10 12

13 Used Car Business Used Car Market in Korea Unit : 1,000 cars GLOVIS Used Car Auction Business Unit : 1,000 cars, % New Car Sales Used Car Sales # of cars exhibited # of cars succeed in bid Ratio of successful bid ,800 1, ,850 1,150 1,760 1,390 1, Source: KAMA (Korea Automobile Manufacturer Association), GLOVIS Forecast H 10 Business Operating - Operate 2 auction centers (off-line, wholesale) - Bundang Center (Jul. 03), Sihwa Center (Sept. 08) Used Car Business Revenue Changes Used Car Sales, Profit Structure - Ordinary auction : bid fee + success fee - GLOVIS purchasing : bid price - purchase price High Growth Potential - Small auction M/S compared with Japan(56%) and USA(25%) - Price competitiveness by competitive bidding, reducing distribution channel and cost 51.4 Expansion Plan to Southeast area H 09 1H 10 13

14 3 rd Party Logistics Business GLOVIS 3PL Logistics 3PL Used by Domestic companies 3PL Sales 3PL Usage % 48.2% % 42.2% % H Source : GLOVIS Source : Korea International Trade Association Comparison of 3PL Use Plans for 3PL Business Expansion 80% 80% Enhance professionalism in Service providing 70% - Provide specialized logistics service : Use of IT System e.g. RFID 60% Established new 3PL business team (2010) 48.2% - Customer expansion (Auto Part Oil, Agricultural Product, Military demands) Main Customers : USA Europe Japan Source : Korea International Trade Association Singapore Korea 14

15 GLOVIS Industry Status Growth Potentials 1H Result Appendix Overview Automobile Finished Car Summary Summarized F/P GLOVIS Vision Shipping Raw Material CKD Business Sales Analysis SG&A Analysis Summarized I/S Investment Sec. Used Car Business Non-op Analysis 3PL Business

16 1H Summarized Results Sales, % Q Q Q YoY QoQ 2, , ,256.2 Sales , , % 20.3% Operating Income % -2.3% 2Q 09 2Q 10 1H 09 Operating Income 1H (OP Margin) 5.0% 4.1% 3.3% EBITDA % -1.7% 2Q 09 2Q 10 1H 09 1H 10 EBITDA EBT % -15.8% Net Income % -8.0% Q 09 2Q 10 1H 09 1H 10 16

17 Sales Analysis Sales Composition Korea Logistics International Logistics Sales Cost Sales Cost , (16.9%) Q 09 2Q 10 1H 09 1H 10 2Q 09 2Q 10 1H 09 1H (28.9%) Increased finished car transportation PCC and auto parts In/Outbound expansion Korea Logistics International Logistics C K D 1, (27.2%) (29.6%) (36.5%) 1,399.6 (50.6%) CKD Sales Cost , ,296.9 Merchandise Sales Cost Merchandise 90.9 (6.7%) (3.6%) 2Q 09 2Q 10 1H 09 1H 10 2Q 09 2Q 10 1H 09 1H 10 1H 09 1H 10 Continuous sales growth for CKD - Production volume increases in USA and Europe Used Car sales increase - Continuous of exhibition and succeeded bids 17

18 SG&A Analysis Freight Expense Q Q YoY H H YoY % % Salaries % % Others % % Total % % Ratio to Sales 3.2% 4.3% 3.3% 4.2% Key Factors for Increase/Decrease Ratio to Sales, % Freight Expense - Transporting expense for CKD parts - Increase in freight expense due to the increase in CKD sales 3.2% 4.3% 3.3% % Q 09 2Q 10 1H 09 1H 10 CKD Sales ,399.6 Freight Ratio to Sales 4.1% 6.2% 4.3% 6.0% 2Q 09 2Q 10 1H 09 1H 10 18

19 Non-operating Income/Expense Analysis Non-operating Income Quarterly Non-operating Income H H Disposition of equity method sec Interest Income F/X Gain Equity Method Gain Others 2Q 09 2Q 10 1H 09 1H 10 Non-operating Expense Quarterly Non-operating Expense H H Interest Expense F/X Loss Equity Method Loss Others 2Q 09 2Q 10 1H 09 2H 10 19

20 GLOVIS Industry Status Growth Potentials 1H Result Appendix Overview Automobile Finished Car Summary Summarized F/P GLOVIS Vision Shipping Raw Material CKD Business Sales Analysis SG&A Analysis Summarized I/S Investment Sec. Used Car Business Non-op Analysis 3PL Business

21 Summarized Statement of Financial Position H Current Assets Cash & Cash Equivalent Non-Current Assets Total Assets , , ,865.9 Current Liabilities Non-current Liabilities Long-term Payables Total Liabilities Capital Stock Capital Surplus Accumulated Other Comprehensive Income Retained Earnings Total Stockholders Equity Debt-to-Equity Ratio 79.0% 76.2% 100.0% 99.3% 21

22 Summarized Income Statement Q Q Change Change H H YoY % YoY % Sales , % 1, , , % Cost of Goods & Services Sold , % 1, , , % Gross Profit % % SG&A Expense , % % Operating Income % % Non-operating Income % % Non-operating Expense % % EBT % % Income Taxes % % Net Income % % EPS(KRW) 2,097 1,410 2,910 2,942 22

23 Investment Securities Equity Method Investment Company Stake(%) Sales Net Income Book Value Equity Method Gain Trading Securities Company Stake(%) Sales Book Value Remark Hyundai Amco 24.96% Hyundai Mobis 0.70% 6, Hyundai Food System 13.65% Haevichi Hotel and Resort 5.00% Glovis America % Hyundai A&I 16.20% Beijing Glovis % Luco 16.70% Glovis Slovakia % Hyundai Green Development 4.00% Glovis Europe % Glovis Australia % Glovis Czech % Glovis Turkey % Glovis India % Glovis Russia %