2003 3Q Results (unaudited) * This report has been prepared on an unaudited basis and may be subject...
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2003 3Q Results (unaudited) * This report has been prepared on an unaudited basis and may be subject to changes.
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Transcript of 2003 3Q Results (unaudited) * This report has been prepared on an unaudited basis and may be subject...
2003 3Q Results (unaudited)
* This report has been prepared on an unaudited basis and may be subject to changes.
Sales
Due to seasonal factors, 3Q sales increased by 5% quarter-on-quarter to reach KRW 273bn.Sales decreased year-on-year, however, given that the recovery in domestic demand has yet to materialize.
Quarter-on-Quarter (KRW bn)
2003 2Q 2003 3Q
1 / 7
260.8272.5
4.5%
(KRW bn)
Jan.~Sept.
292.0272.5
847.6819.3
▽3.3%
▽6.7%
3Q
Year-on-Year
2002
3Q
2003
Jan.~Sept.
Operating Income (Margin)
3Q operating income increased 53% q-o-q but decreased 42% y-o-y, mainly due to fierce competition, amounting to KRW 21bn.
(KRW bn) (KRW bn)
2 / 7
2003 2Q 2003 3Q
53.2%
▽37.2%
▽42.4%
95.4(11.3%)
37.0(12.7%)
21.3(7.8%)
59.9(7.3%)
13.9(5.3%)
21.3(7.8%)
3Q2002
3Q2003
Quarter-on-Quarter Year-on-Year
Jan.~Sept.
Jan.~Sept.
Household Products
In spite of the slowdown in the six major products market and more intense competition, 3Q sales and operating income increased q-o-q largely as a result of seasonality.
Market Share(%)
37 16 16 9
30 49 기타16
[2003](Jan.~Sept.)
Sales & Profit(KRW bn)
2002 2003
Toothpaste L G 47
Pacific19 Others
Aekyung20
49 19[2002]
28 19 15 18 12
19
Shampoo L G 30
P&G17
29 18 17 17 13Unilever
17Aekyung
13Pacific
16 Others
37 16 14 10
Others
36 16 11Pacific
16
16CJ11
Unilever15
37 27 22
L G 36
LaundryDetergent
Aekyung26
CJ 23
Others L G 35
35 25 23
44 33 15
KitchenDetergent
L G 41 OthersCJ
17Aekyung
32
42 32 17
31 49
FabricSoftener
L G 31
Pigeon50
Oxy13 Others
31 501514
3 / 7
[2003 1H] 46 20 202002 2003
Jan.~Sept.
3Q
Soap L G 37
q-o-q y-o-y
y-o-y
Sales
Gross Profit
(G.P. Margin)
Operating Income
(O.P Margin)
201.6
86.5
(42.9%)
28.7
(14.2%)
▽0.8%
▽0.1%
(0.3%P)
▽14.3%
( 1.9%P)▽
17.1%
29.9%
(4.3%P)
196.4%
(7.4%P)
200.0
86.4
(43.2%)
24.6
(12.3%)
0.4%
▽1.4%
( 0.7%P)▽
▽18.7%
( 2.2%P)▽
561.9
233.9
(41.6%)
63.5
(11.3%)
564.0
230.7
(40.9%)
51.6
(9.1%)
Sale
Gross Profit
(G.P. Margin)
Operating Income
(O.P. Margin)
Cosmetics
Sales by Channel(KRW bn, %)
62
Exports,Home Shopping,Online, etc.
Discount Store
Specialty Shop
Old & NewDoor-to-door
Department Store
Others
PremiumMarket
MassMarket
2003 (Jan.~Sept.)
58
16
2002 (Full Year)
24
14
382.6
The ongoing downturn in the specialty shop and new door-to-door channels and investment to develop the premium channel led to weak performance.
4 / 7
260.8
26
Sales & Profit(KRW bn)
2002 2003
2002 2003
Jan.~Sept.
3Q q-o-q y-o-y
y-o-y
Sales
Gross Profit
(G.P. Margin)
Operating Income
(O.P Margin)
Sale
Gross Profit
(G.P. Margin)
Operating Income
(O.P. Margin)
93.6
66.5
(71.0%)
6.7
(7.2%)
▽22.4%
▽23.8%
( 1.2%P)▽
-
-
▽22.1%
▽23.5%
( 1.3%P)▽
-
-
72.6
50.7
(69.8%)
▽3.3
-
▽13.3%
▽13.3%
-
▽72.2%
( 7.0%P)▽
298.9
212.9
(71.2%)
30.4
(10.2%)
259.1
184.5
(71.2%)
8.3
(3.2%)
Financial Highlights
B/S Summary(KRW bn)
P/L Summary(KRW bn)
Assets
Fixed
Liabilities
Long-term
Shareholders’ Equity
Debt-to-Equity
Net Debt-to-Equity
678.1
435.4
406.9
79.1
271.2
150%
53%
684.7
411.0
402.1
61.6
282.6
142%
48%
FY ’02 ’03 3Q
Borrowings
(Net Borrowings)
173.0 175.5
(135.8)
Although sales and profit recorded a decrease y-o-y, debt-to-equity ratio has improved since end-FY ’02.
5 / 7
P/L Summary
2002 2003
Sales
Cost of Sales
Gross Profit
SG&A
Operating Income
Recurring Profit
Net Profit
Jan.~Sept. % %
(144.8)
847.6
406.2
441.4
346.0
95.4
92.4
64.9
47.9%
11.3%
10.9%
7.7%
52.1%
40.8%
819.3
406.2
413.1
353.2
59.9
58.7
41.3
50.4%
7.3%
7.2%
5.0%
49.6%
43.1%
Quarterly Results
Sales
Gross Profit
Operating Income
Total
2002 1Q 2Q 2003 1Q 2Q
HouseholdProducts
Cosmetics
(KRW bn)
3Q 3Q
4.5%
4.1%
53.2%
17.1%
29.9%
196.4%
▽22.1%
▽23.5 %
-
▽6.7%
▽9.6%
▽42.4 %
2003 3Qq-o-q
6 / 7
2003 3Qy-o-y
▽0.8%
▽0.1%
▽14.3%
▽22.4%
▽23.8%
-
Sales
Gross Profit
Operating Income
Sales
Gross Profit
Operating Income
283.5
147.1
33.2
272.1
142.9
25.1
285.9
144.9
24.7
292.0
151.4
37.0
260.8
131.4
13.9
272.5
136.8
21.3
185.5
75.5
20.3
174.8
71.9
14.5
193.2
77.8
18.7
201.6
86.5
28.7
170.8
66.5
8.3
200.0
86.4
24.6
104.7
73.8
13.0
100.6
72.6
10.7
93.4
67.5
5.9
93.6
66.5
6.7
93.2
66.3
5.7
72.6
50.7
▽3.3
www.lgcare.co.kr
www.careshop.co.kr
Thank you! This presentation contains forward looking statements which are based on
management’s assumptions and estimates. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in this presentation. Potential risks and uncertainties include, but are limited to, such factors as general economic conditions, foreign exchange fluctuations, and any change in the relevant laws and regulations.
