Ha U Dong Chun Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2014	FY 2013
Period Ending	Dec '14 Dec 31, 2014	Dec '13 Dec 31, 2013
Net Income	70.34	305.8
Depreciation & Amortization	39.27	23.86
Loss (Gain) From Sale of Investments	-0.12	-
Provision & Write-off of Bad Debts	0.16	-
Other Operating Activities	81.88	-
Change in Accounts Receivable	-3.7	-12.3
Change in Inventory	-4.18	-
Change in Income Taxes	-30.38	63.18
Change in Other Net Operating Assets	7.58	94.33
Operating Cash Flow	160.85	474.86
Operating Cash Flow Growth	-66.13%	-
Capital Expenditures	-271.67	-32.6
Cash Acquisitions	-	-98.08
Sale (Purchase) of Intangibles	-180.93	-
Sale (Purchase) of Real Estate	-89.1	-
Investment in Securities	-118.59	-28.41
Other Investing Activities	-	-50
Investing Cash Flow	-641.56	-582.09
Long-Term Debt Issued	713	383
Long-Term Debt Repaid	-383	-
Net Debt Issued (Repaid)	330	383
Issuance of Common Stock	-	100
Dividends Paid	-60	-
Financing Cash Flow	270	483
Net Cash Flow	-210.71	375.77
Free Cash Flow	-110.83	442.26
Free Cash Flow Margin	-5.88%	37.28%
Free Cash Flow Per Share	-110.29	442.55
Levered Free Cash Flow	-400.23	-
Unlevered Free Cash Flow	-389.76	-
Change in Working Capital	-30.69	145.21

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