2015 Business Result

Transcription

1 2015 Business Result

2 본자료는 2015 년실적에대한외부감사인의회계검토가완료되지않은상태에서투자자여러분의편의를위하여작성된자료입니다. 따라서본자료의일부내용은회계검토과정에서변경될수있음을양지하시기바랍니다 business result is prepared for investors consideration only before completion of independent auditors review. Therefore, parts of contents on this material could be changeable during independent auditors review. 1

3 Contents Ⅰ Review Ⅱ. Market analysis Ⅲ. Performance analysis Ⅳ. Financials - Income statement Ⅴ. Small SUV market status & award for Tivoli Ⅵ Forecast 2

4 2015 Review Successful Tivoli launch - Total sales volume: 63,693 vehicles - Domestic market share out of SUV-B segment: 55% Focus on profitability - Concentrate on domestic sales (Domestic portion increase: +20%p, % %) Favorable market status - Strong SUV demand - Low oil price (WTI): -47.7% (vs. 2014) - F/X: KRW1,131.33/USD (+7.4% vs. 2014) SYMC Q4 Operating profit since Q Sales volume : 40,890 vehicles (+18% vs. Q4 2014) Stable relationship between company and labor union - No production disruption for 6 years in a row - Agreement of gradual reinstatement of layoff workers in

5 Domestic Market Trend Quarterly market trend (Including imported cars) PC SUV MPV Commercial RV M/S Q (vs. Q4 2014) 36.0% 34.9% 35.3% 28.7% 28.1% 28.2% 30.7% 29.6% 32.7% 531K - Total market : +16.5% (Domestic makers : +15.0%, Imported : +28.2%) 407K 64K 23K 93K 382K 56K 21K 87K 425K 58K 23K 97K 398K 49K 33K 89K 455K 62K 29K 105K 404K 58K 29K 103K 454K 62K 35K 129K 446K 56K 33K 122K 60K 33K 154K - PC : +9.5% - SUV : +46.2% Strong demand New car effect : Tivoli, Tucson, Sportage - MPV : +12.9% 227K 218K 248K 227K 259K 214K 228K 234K 283K - RV M/S : 35.3% (+5.7%p vs. Q4 2014) Q Q Q Q Q Q Q Q Q SYMC Market share in total market Q : Q = 4.3% : 5.7% Unit: vehicles (Imported cars PC, SUV, MPV) 4

6 Domestic Market Trend Yearly market trend (Including imported cars) PC SUV MPV Commercial RV M/S 34.8% 27.4% 29.2% 1,833K 2015 (vs. 2014) - Total market : +10.4% (Domestic makers : +8.6%, Imported : +24.2%) 1,539K 219K 98K 324K 1,660K 225K 107K 378K 236K 130K 508K - PC : +0.8% Domestic makers: -3.0% - SUV : +34.5% Strong demand and new car effect - MPV : +22.3% 899K 951K 959K Unit: vehicles (Imported vehicles PC, SUV, MPV) 5 - RV M/S : 34.8% (+5.6%p vs. 2014) - SYMC market share in total market 2014 : 2015 = 4.2% : 5.4%

7 Overseas Market Trend Europe (30 Countries) Russia Jan.~Oct ,238K (20%) 2,159K 1256K 11.01M Jan.~Nov ,156K (37%) 822K 91K 2.22M (22%) (34%) Jan.~Oct ,721K 2,586K 1239K 11.93M Jan.~Nov K 493K 48K 1.45M - Total market : +8.4% - SUV market : +19.8% - Total market : -34.4% - SUV market : -40.0% China Jan.~Nov ,025K (21%) 3,652K 1782K 17.66M - Total market : +5.8% Jan.~Nov ,398K (29%) 5,413K 1867K 18.67M - SUV market : +48.2% Unit : Vehicle Source : IHS Automotive Excluding commercial vehicles ( ) : SUV portion out of total market PC SUV MPV Others 6

8 SYMC Sales Volume in Q ,800 15,278 (44%) +18% -31% 40,890 10,469 (26%) Sales volume increase - Total Sales : +6,090 units (+18%) Domestic : +10,899 units (+56%) Export : -4,809 units (-31%) Domestic portion increase : +18%p - Q : Q = 56% : 74% 19,522 (56%) +56% 30,421 (74%) Export by region (vs. Q4 2014) - W. Europe : +124% - E. Europe(Including Russia) : -98% Q Q Domestic Export Unit: vehicle Tivoli sales - Q4 : 20,170 units (Domestic : 15,373 units, Export : 4,797 units) (Q1: 9,826 units, Q2: 17,179 units, Q3: 16,518 units) 7

9 SYMC Sales Volume in ,047 +3% 144,764 Sales volume increase 72,011 (51%) -37% 45,100 (31%) - Total Sales : +3,717units (+3%) Domestic : +30,628 units (+44%) Export : -26,911 units (-37%) Domestic portion increase : +20%p : 2015 = 49% : 69% 69,036 (49%) +44% 99,664 (69%) Export by region - W. Europe : +108% - E. Europe(Including Russia) : -98% Domestic Export Tivoli sales : 63,693 units (Domestic : 45,021 units, Export : 18,672 units) Unit: vehicle 8

10 Region-wise Export in 2015 W. Europe E. Europe % out of export sales volume (Including CKD) 49% Including: Russia 35% 15% 1% Others China South America 16% 23% 17% 17% 22% 5%

11 Income Statement(Consolidated) / Q (Unit: billion krw) Category Q Q Change Change(%) Sales % Cost of sales % Gross Profit % SG&A % Operating Profit Turn into profit-making PBT PAT

12 Operating Costs / Q Cost of sales % SG&A expense % 85.6% -2.6%p 83.0% 18.3% -3.6%p 14.7% Q Q Q Q (Cost of Sales/Sales)*100 (SG&A expenses/sales)*100 11

13 Income Statement(Consolidated) / 2015 (Unit: billion krw) Category Change Change(%) Sales 3, , % Cost of sales 2, , % Gross Profit % SG&A % Operating Profit PBT PAT

14 Operating Costs / 2015 Cost of sales % SG&A expense % 86.3% -1.7%p 84.6% 16.1% +0.3%p 16.4% (Cost of Sales/Sales)*100 (SG&A expenses/sales)*100 13

15 Small SUV market status & award for Tivoli SUV market status Europe (34 countries) SUV-B Portion 18% 23% 26% 2,155K 390K 1,320K SUV-B +50% 2,600K 585K 1,498K SUV-B +39% 3,090K 816K 1,649K 261K 309K 374K 184K 208K 251K (E) SUV-B SUV-C SUV-D SUV-E Domestic SUV-B Portion 3% 9% 18% 291K 9K 131K SUV-B +210% 333K 29K 140K Unit : Vehicle Source : IHS Automotive, SYMC Domestic: Excluding imported car SUV-B +188% 448K 82K 152K 121K 134K 186K 30K 31K 28K Award for Tivoli Safety Design Energy efficiency 2015 Safety car of the Year : Excellence award - Organized by Ministry of Land, Infrastructure and Transport Tivoli Long Body: Coming soon! Good design Organized by The Ministry of Trade Industry and Energy Energy Winner Organized by Consumers Korea and The Ministry of Trade Industry and Energy 14

16 2016 Forecast - Domestic market Continued SUV demand growth forecast No major new vehicle launch in SUV segment - Export Relatively stable EU economy New growth momentum (Iran, Peru, etc.) - Tivoli Long Body launch in March - Continued Tivoli effect (A leading small SUV brand in Korea) - New Rexton in 2017 (Since 2001) - F/X : USD/KRW expected to be favorable - Commodity prices including crude oil are expected to continue to be low - Sound relationship between SYMC management and labor union - SY Auto Capital Improved profitability Structure - Relatively low level of BEP volume H sales volume : 75K vehicles H Operating profit : KRW 18.3 billion 15