The business result for the 2nd quarter of 2020 is currently under the audit process, however this is
presented purely for the purposes of investors' convenience.
Hence, please be advised that some of the contents may be altered in the course of audit.
Forecasts and projections contained in this material are based on current business environments and management strategies, so these may differ from the actual result upon changes and unaccounted variables.
2Q 2020 Business Results
Divisional Results
Appendix
2Q 2020 Business Results
Income Statements
(Unit: KRW bn)
Classification
20.2Q
20.1Q
QoQ
19.2Q
YoY
Sales
1,026.2
1,225.5
-16.3%
1,292.8
-20.6%
Operating Profit
120.1
133.1
-9.8%
138.1
-13.0%
(11.7%)
(10.9%)
(10.7%)
EBITDA
169.0
182.1
-7.2%
186.5
-9.4%
(16.5%)
(14.9%)
(14.4%)
Pre-tax Income
126.6
139.0
-8.9%
149.7
-15.4%
(12.3%)
(11.3%)
(11.6%)
Net Income
99.8
127.5
-21.7%
115.2
-13.4%
(9.7%)
(10.4%)
(8.9%)
Equity Income
10.1
9.5
6.7%
10.4
-2.9%
* Net Income is based on Controlling interests.
Since the business related with Electronic Chemicals has been disposed in 20.1Q, it is classified as discontinued operations, and the financials of same term of last year have been rewritten.
1
2Q 2020 Business Results
Balance Sheet
(Unit: KRW bn)
Classification
20.2Q
19
Change
(End)
Asset
4,667.2
4,538.0
2.8%
(Cash and
(491.3)
(127.8)
(284.4%)
equivalents)
Liabilities
1,897.7
1,908.4
-0.6%
(Debt)
(1,186.2)
(1,104.0)
(7.4%)
Shareholder's
2,769.5
2,629.6
5.3%
Equity
Liabilities/
68.5%
72.6%
-4.1%p
Equity (%)
Financial Ratios
Classification
20.2Q
19
Change
(End)
Debt/Equity
42.8 %
42.0%
0.8%p
Net Debt
25.1%
37.1%
-12.0%p
/Equity
Interest
Coverage
16.3
8.4
7.9
Ratio (x)
ROE
16.8%
11.8%
5.0%p
ROA
9.9%
6.4%
3.4%p
2
Divisional Results & Outlook
Synthetic
Rubbers
36.1%
of total sales
2Q Earnings Review
Reduction in sales volume and revenue caused by reduced utilization rate of tire companies and weak demand due to COVID19.
Secure profitability of NB Latex by increasing demand for hygiene products.
3Q Outlook
BD: The price is forecasted to be rebound due to
high usage of light feed cracking and reduced supply in the region.
Demand recovery is expected due to restart of tire companies.
Sales (Unit: KRW bn)
499.9
485.8
469.3
455.2
369.9
19.2Q
19.3Q
19.4Q
20.1Q
20.2Q
3
Divisional Results & Outlook
Synthetic
Resins
24.4%
of total sales
2Q Earnings Review
Maintain profitability due to strong demand for food packaging/disposable PS and ABS for home appliances.
3Q Outlook
SM: Despite strong demand, the price is forecasted to be strong due to reduced operations in the region.
Expected to see an increase in selling prices and profitability caused by the improved demand in automotive/home appliance market.
Sales (Unit: KRW bn)
311.6
292.1
285.7
276.2
250.5
19.2Q
19.3Q
19.4Q
20.1Q
20.2Q
4
Divisional Results & Outlook
Others
39.5%
of total sales
2Q Earnings Review
Phenol derivatives: Improvement in profitability due to strong spreads of main products.
Energy: Decline in sales and profitability caused by a drop in the electricity price (SMP) and annual shutdown.
3Q Outlook
Phenol derivatives: The product price is forecasted to be weak by increasing phenol supply and easing acetone supply in the region.
Energy: Sales and profitability will be improved after maintenance.
Sales (Unit: KRW bn)
481.3
454.3
470.5
55.4
442.1
45.2
36.5
61.5
59.4
405.8
48.4
Others
46.2
31.5
46.9
41.3
30.2
Energy
28.8
33.6
32.5
17.0
Specialty Chemicals
Phenol
Derivatives
357.9
346.7
319.2
306.8
309.0
19.2Q
19.3Q
19.4Q
20.1Q
20.2Q
5
APPENDIX
Quarterly Performance
(Unit: KRW bn)
2019
2020
Classification
1Q
2Q
3Q
4Q
Total
1Q
2Q
3Q
4Q
Total
Sales
1,270.7
1,292.8
1,220.0
1,185.7
4,969.2
1,225.5
1,026.2
2,251.7
Operating
143.5
138.1
68.7
15.9
366.2
133.1
120.1
253.2
Profit
Net
Interest
14.7
15.2
15.3
3.8
49.0
13.0
6.4
19.4
Expense
Equity
10.2
10.4
11.3
7.1
39.0
9.5
10.1
19.6
Income
Pre-tax
142.8
149.7
68.8
16.6
377.8
139.0
126.6
265.6
Income
Net
113.9
115.2
47.6
17.9
294.6
127.5
99.8
227.3
Income
Net Income is based on Controlling interests.
Since the business related with Electronic Chemicals has been disposed in 20.1Q, it is classified as discontinued operations, and the financials of same term of last year have been rewritten.
Kumho Petro Chemical Co. Ltd. published this content on 07 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2020 06:53:18 UTC
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