KOREA INDUSTRIAL CO., LTD.

Financials Korea Industrial Co., Ltd.

Equities

A002140

KR7002140002

Fishing & Farming

End-of-day quote Korea S.E. Other stock markets 03:30:00 09/05/2024 am IST			5-day change	1st Jan Change
3,205 ^KRW	+0.63%		+3.05%	+2.07%

12/03	W-Scope Unit Strikes Land Rental Deal for Ion Exchange Membrane Manufacturing in South Korea; Shares Rise 3%	MT
30/01	MORNING BID ASIA-China PMIs, U.S. Fed statement will test growth outlooks	RE

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	53,537	82,896	1,20,890	71,794	85,610	77,468
Enterprise Value (EV) ¹	1,28,920	1,35,651	1,87,095	1,44,955	1,89,362	1,73,524
P/E ratio	13.6 x	18.5 x	17.6 x	15.9 x	125 x	22.9 x
Yield	1.38%	0.89%	0.71%	1.37%	0.72%	-
Capitalization / Revenue	0.34 x	0.43 x	0.63 x	0.34 x	0.31 x	0.24 x
EV / Revenue	0.81 x	0.7 x	0.98 x	0.68 x	0.68 x	0.54 x
EV / EBITDA	16 x	14.8 x	14.9 x	17.9 x	23.7 x	13.7 x
EV / FCF	-4.89 x	6.01 x	38.2 x	17.7 x	-6.03 x	174 x
FCF Yield	-20.5%	16.7%	2.61%	5.66%	-16.6%	0.57%
Price to Book	0.58 x	0.87 x	1.18 x	0.67 x	0.81 x	0.71 x
Nbr of stocks (in thousands)	24,671	24,671	24,671	24,671	24,671	24,671
Reference price ²	2,170	3,360	4,900	2,910	3,470	3,140
Announcement Date	21/03/19	19/03/20	18/03/21	17/03/22	16/03/23	13/03/24

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	1,58,430	1,92,457	1,90,505	2,13,487	2,78,371	3,19,059
EBITDA ¹	8,063	9,147	12,594	8,117	8,007	12,667
EBIT ¹	5,744	5,448	8,909	4,405	4,201	8,953
Operating Margin	3.63%	2.83%	4.68%	2.06%	1.51%	2.81%
Earnings before Tax (EBT) ¹	4,826	6,494	9,336	6,317	501.6	4,530
Net income ¹	3,939	4,479	6,854	4,516	686.8	3,386
Net margin	2.49%	2.33%	3.6%	2.12%	0.25%	1.06%
EPS ²	159.7	181.5	277.8	183.0	27.84	137.0
Free Cash Flow ¹	-26,389	22,587	4,892	8,211	-31,399	996.6
FCF margin	-16.66%	11.74%	2.57%	3.85%	-11.28%	0.31%
FCF Conversion (EBITDA)	-	246.95%	38.84%	101.16%	-	7.87%
FCF Conversion (Net income)	-	504.34%	71.37%	181.82%	-	29.44%
Dividend per Share ²	30.00	30.00	35.00	40.00	25.00	-
Announcement Date	21/03/19	19/03/20	18/03/21	17/03/22	16/03/23	13/03/24

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	75,383	52,755	66,205	73,161	1,03,752	96,056
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	9.349 x	5.768 x	5.257 x	9.014 x	12.96 x	7.583 x
Free Cash Flow ¹	-26,389	22,587	4,892	8,211	-31,399	997
ROE (net income / shareholders' equity)	4.1%	5.02%	6.82%	4.32%	0.39%	2.89%
ROA (Net income/ Total Assets)	1.81%	1.62%	2.63%	1.21%	1.02%	2.03%
Assets ¹	2,17,660	2,76,289	2,60,398	3,73,343	67,134	1,67,187
Book Value Per Share ²	3,754	3,883	4,153	4,323	4,286	4,418
Cash Flow per Share ²	730.0	846.0	694.0	962.0	909.0	907.0
Capex ¹	15,792	1,480	4,348	4,076	14,242	16,538
Capex / Sales	9.97%	0.77%	2.28%	1.91%	5.12%	5.18%
Announcement Date	21/03/19	19/03/20	18/03/21	17/03/22	16/03/23	13/03/24

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Animal Feed

	1st Jan change	Capi.
KOREA INDUSTRIAL CO., LTD.	+2.07%	57.57M
GUANGDONG HAID GROUP CO., LIMITED	+12.98%	11.62B
NEW HOPE LIUHE CO.,LTD.	+0.32%	5.71B
PT CHAROEN POKPHAND INDONESIA TBK	+5.47%	5.41B
CHAROEN POKPHAND FOODS	+3.06%	4.51B
BEIJING DABEINONG TECHNOLOGY GROUP CO.,LTD.	-19.30%	2.71B
TANGRENSHEN GROUP CO., LTD	-18.80%	1.19B
FUJIAN TIANMA SCIENCE AND TECHNOLOGY GROUP CO., LTD	-16.85%	960M
WELLHOPE FOODS CO., LTD.	-11.21%	924M
AVANTI FEEDS LIMITED	+22.38%	871M

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A002140 Stock
Financials Korea Industrial Co., Ltd.

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