Curoholdings Co., Ltd. Announces Consolidated Earnings Results for the Full Year Ended December 31, 2012; Announces Expansion Plans
February 21, 2013
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Curoholdings Co., Ltd. announced consolidated earnings results for the full year ended December 31, 2012. For the year, revenue was KRW 355,886,000 against KRW 166,298,000 a year ago. Earnings before interest, taxation, depreciation and amortisation (EBITDA) were KRW 53,480,000 against KRW 10,481,000 a year ago. Earnings before interest and taxation (EBIT) were KRW 35,367,000 against KRW 3,777,000 a year ago. Profit before taxation was KRW 20,250,000 against loss before taxation of KRW 9,171,000 a year ago. Profit attributable to owners of the parent was KRW 15,104,000 or 7.0 diluted per share against loss attributable to owners of the parent of KRW 7,404,000 or 5.5 diluted per share a year ago. Net cash generated from operating activities was KRW 57,240,000 against KRW 11,494,000 a year ago. EBITDA increase of 410%, this is mainly as a result of capacity being filled at existing schools without a proportionate increase in costs, as well as the inclusion of profit making schools from acquisitions for a portion of the year.
The company announced the expected growth in learner numbers at existing campuses alone justifies another KRW 300 million capital investment in this year 2013. The company also announced in addition 3 new Curro campuses, 4 new Meridian campuses and 2 new Curro Castles will be established. The company has also identified 5 sites that will be purchased for construction in 2014.
CUROHOLDINGS Co., Ltd. is a company mainly engaged in the entertainment business. Along with subsidiaries, the Company operates its business through three segments. The Entertainment segment is engaged in production of video content such as movies and dramas, management of entertainers, provision of auxiliary performers, mobile game publishing and services. The Coffee segment is engaged in sales of coffee and coffee machines. The Resource Development segment is engaged in the development of overseas oil and gas fields.