Chokwang Leather Income Statement

Financials in millions KRW. Fiscal year is January - December.

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2017	FY 2016	FY 2015	FY 2014	FY 2013
Period Ending	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016	Dec '15 Dec 31, 2015	Dec '14 Dec 31, 2014	Dec '13 Dec 31, 2013
Operating Revenue	174,294	198,566	181,883	198,170	189,729
Revenue	174,294	198,566	181,883	198,170	189,729
Revenue Growth (YoY)	-12.22%	9.17%	-8.22%	4.45%	-2.14%
Cost of Revenue	140,037	159,467	163,805	179,458	171,469
Gross Profit	34,257	39,099	18,078	18,711	18,259
Selling, General & Admin	8,615	11,158	9,547	9,439	9,631
Research & Development	786.64	891.27	838.11	871.11	812.63
Amortization of Goodwill & Intangibles	0.29	1.16	1.29	1.28	1.63
Operating Expenses	9,698	12,502	10,673	10,663	8,929
Operating Income	24,559	26,597	7,405	8,049	9,330
Interest Expense	-5.34	-6.94	-108.94	-349.07	-546.82
Interest & Investment Income	1,074	796.16	882.41	1,044	1,190
Currency Exchange Gain (Loss)	-810.54	-476.41	-675.84	-901.55	211.34
Other Non Operating Income (Expenses)	2,300	1,895	2,030	1,829	2,658
EBT Excluding Unusual Items	27,117	28,804	9,533	9,671	12,842
Gain (Loss) on Sale of Investments	2,122	-277.29	59.33	-3.51	329.66
Gain (Loss) on Sale of Assets	60.68	173.06	434.62	304.94	255.16
Pretax Income	29,299	28,700	10,027	9,973	13,427
Income Tax Expense	7,280	7,062	2,547	2,103	2,414
Net Income	22,019	21,638	7,480	7,870	11,013
Net Income to Common	22,019	21,638	7,480	7,870	11,013
Net Income Growth	1.76%	189.28%	-4.95%	-28.54%	80.15%
Shares Outstanding (Basic)	4	4	4	4	4
Shares Outstanding (Diluted)	4	4	4	4	4
Shares Change (YoY)	-0.16%	0.50%	1.41%	-0.01%	-0.02%
EPS (Basic)	6005.01	5892.00	2047.00	2184.00	3056.00
EPS (Diluted)	6005.01	5892.00	2047.00	2184.00	3056.00
EPS Growth	1.92%	187.84%	-6.27%	-28.53%	80.19%
Free Cash Flow	26,689	16,515	20,536	-10,807	11,183
Free Cash Flow Per Share	7278.59	4496.81	5619.81	-2999.13	3103.23
Gross Margin	19.66%	19.69%	9.94%	9.44%	9.62%
Operating Margin	14.09%	13.39%	4.07%	4.06%	4.92%
Profit Margin	12.63%	10.90%	4.11%	3.97%	5.80%
Free Cash Flow Margin	15.31%	8.32%	11.29%	-5.45%	5.89%
EBITDA	28,088	29,524	10,101	10,554	11,569
EBITDA Margin	16.11%	14.87%	5.55%	5.33%	6.10%
D&A For EBITDA	3,529	2,927	2,696	2,506	2,239
EBIT	24,559	26,597	7,405	8,049	9,330
EBIT Margin	14.09%	13.39%	4.07%	4.06%	4.92%
Effective Tax Rate	24.85%	24.61%	25.40%	21.09%	17.98%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.