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CEO : Yoon Chun Sung

LX International, 58, Saemunan-ro, Jongno-gu, Seoul, 03184, Korea

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Balance Sheet Income statement Cash Flow Table Financial Ratios Credit Ratings External Auditor

Balance Sheet

2024 2023 2022 2021 2020 2019

Unit : KRW Billion

2019 Balance Sheet
Subject The first quarter of 2019 The second quarter of 2019 The third quarter of 2019 The fourth quarter of 2019
Asset 5,696.1 5,670.2 5,597.2 4,876.0
2,981.6 3,005.8 2,887.2 2,484.0
2019 Current Asset details
· Cash & Cash Equivalents 352.2 368.9 301.4 423.6
· Trade Receivables 1,224.5 1,182.1 1,205.6 994.1
· Inventory 628.0 748.7 732.7 519.3
· Others 776.9 706.1 647.5 547.1
2,714.5 2,664.4 2,710.0 2,391.9
2019 Non-Current Asset details
· Tangible Assets 836.7 814.0 819.8 764.6
· Investments 602.0 624.7 618.2 534.1
· Intangible Assets 898.2 906.8 921.1 726.9
· Others 377.6 318.9 350.9 366.4
Liabilities 4,047.1 3,910.3 3,797.7 3,327.4
2,646.3 2,619.6 2,447.7 2,126.3
2019 Current Liabilities details
· Trade Payables 1,386.4 1,403.2 1,271.4 1,104.0
· Short-term Borrowings 119.1 108.4 225.3 136.4
· Current Portion of Bonds 257.0 321.7 216.8 222.9
· Others 883.8 786.3 734.2 663.1
1,400.8 1,290.7 1,350.0 1,201.1
2019 Non-Current Liabilities details
· Bonds Payables 389.3 319.4 319.5 319.5
· Long-term Borrowings 702.4 677.8 729.2 636.0
· Others 309.1 293.5 301.3 245.6
Equity 1,649.0 1,759.9 1,799.5 1,548.6

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2020 Balance Sheet
Subject The first quarter of 2020 The second quarter of 2020 The third quarter of 2020 The fourth quarter of 2020
Asset 5,333.0 5,423.4 5,660.3 5,395.9
2,920.4 3,022.4 3,287.1 3,162.8
2020 Current Asset details
· Cash & Cash Equivalents 677.1 772.0 762.0 690.0
· Trade Receivables 1,098.3 1,040.3 1,372.2 1,298.7
· Inventory 547.8 651.6 626.3 645.1
· Others 597.2 558.5 526.6 529.0
2,412.6 2,401.0 2,373.3 2,233.1
2020 Non-Current Asset details
· Tangible Assets 795.8 806.2 798.6 742.4
· Investments 512.6 505.8 223.2 439.1
· Intangible Assets 741.1 732.6 721.9 694.8
· Others 363.1 356.4 629.5 356.8
Liabilities 3,544.3 3,614.7 3,832.3 3,637.6
2,382.4 2,352.7 2,626.3 2,518.3
2020 Current Liabilities details
· Trade Payables 1,152.4 1,107.4 1,471.1 1,547.8
· Short-term Borrowings 70.5 219.7 119.6 106.8
· Current Portion of Bonds 307.6 274.1 282.6 225.6
· Others 851.9 751.5 753.1 638.1
1,161.9 1,262.0 1,205.9 1,119.3
2020 Non-Current Liabilities details
· Bonds Payables 249.7 389.2 359.2 359.3
· Long-term Borrowings 617.9 576.1 549.9 506.6
· Others 294.3 296.7 296.8 253.4
Equity 1,788.7 1,808.7 1,828.1 1,758.3

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2021 Balance Sheet
Subject The first quarter of 2021 The second quarter of 2021 The third quarter of 2021 The fourth quarter of 2021
Asset 6,039.1 6,405.9 6,860.8 6,746.9
3,745.6 4,079.8 4,473.3 4,376.6
2021 Current Asset details
· Cash & Cash Equivalents 653.1 648.5 716.2 841.9
· Trade Receivables 1,628.2 1,674.5 1,821.8 1,653.5
· Inventory 858.2 1,169.1 1,152.7 1,021.2
· Others 606.1 587.7 782.6 860.0
2,293.5 2,326.1 2,387.5 2,370.3
2021 Non-Current Asset details
· Tangible Assets 766.2 769.4 786.9 806.5
· Investments 467.5 500.7 541.8 496.5
· Intangible Assets 704.9 707.9 715.5 749.6
· Others 354.9 348.1 343.3 317.7
Liabilities 4,173.7 4,427.1 4,639.7 4,362.7
3,098.6 3,407.9 3,649.3 3,431.0
2021 Current Liabilities details
· Trade Payables 1,935.2 2,033.6 1,945.4 1,619.8
· Short-term Borrowings 211.0 429.4 618.5 416.0
· Current Portion of Bonds 191.4 217.5 248.4 328.7
· Others 761.0 727.4 837.0 1,066.5
1,075.1 1,019.2 990.4 931.7
2021 Non-Current Liabilities details
· Bonds Payables 309.4 219.5 269.4 269.5
· Long-term Borrowings 511.7 531.3 443.7 343.6
· Others 254.0 268.4 277.3 318.6
Equity 1,865.4 1,978.8 2.221.1 2,384.2

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2022 Balance Sheet
Subject The first quarter of 2022 The second quarter of 2022 The third quarter of 2022 The fourth quarter of 2022
Asset 7,560,2 7,716.3 7,962.3 7,719.0
5,066.7 4,999.1 4,926.0 4,482.2
2022 Current Asset details
· Cash & Cash Equivalents 947.8 1,017.3 1,190.3 1,550.7
· Trade Receivables 1,884.3 1,869.8 1,796.3 1,374.9
· Inventory 1,072.9 1,075.7 880.7 698.3
· Others 1,161.7 1,036.3 1,058.7 858.3
2,493.5 2,717.2 3,036.3 3,236.8
2022 Non-Current Asset details
· Tangible Assets 874.0 927.1 986.4 1,163.3
· Investments 548.1 642.8 760.0 693.7
· Intangible Assets 777.3 834.5 908.2 1,069.9
· Others 294.1 312.8 381.7 309.9
Liabilities 5,032.8 4,919.7 4,808.6 4,682.5
3,795.6 3,590.2 3,247.6 2,935.0
2022 Current Liabilities details
· Trade Payables 1,595.4 1,466.8 1,424.5 1,149.0
· Short-term Borrowings 402.5 451.4 333.2 281.8
· Current Portion of Bonds 308.5 314.9 174.4 301.2
· Others 1,489.5 1,357.1 1,315.5 1,203.0
1,237.2 1,329.5 1,561.0 1,747.5
2021 Non-Current Liabilities details
· Bonds Payables 538.7 518.7 518.8 469.0
· Long-term Borrowings 336.7 447.9 647.4 874.9
· Others 361.8 362.9 394.8 403.6
Equity 2,527.4 2,796.6 3,153.7 3,036.5

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2023 Balance Sheet
Subject The first quarter of 2023 The second quarter of 2023 The third quarter of 2023 The fourth quarter of 2023
Asset 8,361.6 8,358.7 8,703.0 7,995.3
4,384.3 4,381.1 4,621.1 4,033.7
2023 Current Asset details
· Cash & Cash Equivalents 1,324.0 1,213.2 1,241.5 1,138.9
· Trade Receivables 1,406.4 1,311.3 1,369.9 1,266.5
· Inventory 742.9 940.5 1,020.5 904.8
· Others 911.0 916.1 989.2 723.5
3,977.3 3,977.6 4,081.9 3,961.6
2023 Non-Current Asset details
· Tangible Assets 1,439.1 1,459.2 1,526.6 1,584.1
· Investments 796.5 764.9 781.9 851.7
· Intangible Assets 1,418.7 1,422.1 1,445.9 1,235.6
· Others 323.0 331.4 327.5 290.2
Liabilities 5,256.1 5,205.8 5,481.8 4,920.4
2,995.7 2,797.6 3,125.7 2,608.4
2023 Current Liabilities details
· Trade Payables 1,225.4 1,258.9 1,450.0 1,275.5
· Short-term Borrowings 210.2 218.0 138.8 130.9
· Current Portion of Bonds 293.2 252.6 350.3 314.0
· Others 1,266.9 1,068.1 1,186.6 888.0
2,260.4 2,408.2 2,356.1 2,312.0
2023 Non-Current Liabilities details
· Bonds Payables 469.1 668.5 668.6 668.7
· Long-term Borrowings 1,300.9 1,241.9 1,164.2 1,092.4
· Others 490.4 497.8 523.3 550.9
Equity 3,105.5 3,152.9 3,221.2 3,074.9

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2024 Balance Sheet
Subject The first quarter of 2024 The second quarter of 2024 The third quarter of 2024 The fourth quarter of 2024
Asset 8,534.9 8,990.6
4,253.6 4,616.3
2024 Current Asset details
· Cash & Cash Equivalents 1,078.0 1,107.8
· Trade Receivables 1,552.6 1,653.7
· Inventory 882.9 1,088.3
· Others 740.1 766.5
4,281.3 4,374.3
2024 Non-Current Asset details
· Tangible Assets 1,662.2 1,670.6
· Investments 836.6 908.4
· Intangible Assets 1,460.6 1,466.9
· Others 321.9 328.4
Liabilities 5,333.7 5,608.8
3,029.2 3,297.0
2024 Current Liabilities details
· Trade Payables 1,426.5 1,681.8
· Short-term Borrowings 203.2 177.9
· Current Portion of Bonds 472.2 488.0
· Others 927.3 949.3
2,304.5 2,311.8
2024 Non-Current Liabilities details
· Bonds Payables 558.9 519.0
· Long-term Borrowings 1,092.5 1,097.0
· Others 653.1 695.8
Equity 3,201.2 3,381.8

※ Figures are based on consolidated K-IFRS.

Income statement

2024 2023 2022 2021 2020 2019

Unit : KRW Billion

2019 Income statement
Subject The first quarter of 2019 The second quarter of 2019 The third quarter of 2019 The fourth quarter of 2019 2019 ㅣ TOTAL
2,542.7 2,615.1 2,759.8 2,613.3 10,530.9
2019 Sales details
· Cost of Sales 2,353.9 2,416.2 2,584.2 2,463.1 9,817.4
188.8 198.9 175.6 150.2 713.5
2019 Gross Profit details
· SG&A Expenses 135.5 148.3 146.4 148.5 578.7
Operating Profit 53.3 50.6 29.2 1.7 134.8
-4.0 86.4 -17.4 -275.1 -210.1
2019 Non-Operating Profit details
· Finance Income/Costs -11.5 -11.9 -14.8 -11.0 -49.2
· Gain(loss) of Equity Method 6.6 3.4 0.5 -16.5 -6.1
· Other Income and Expenses 0.9 94.9 -3.1 -247.6 -154.8
49.3 137.0 11.8 -273.4 -75.3
2019 Profit Before Tax details
· Income Tax -39.9 35.4 2.8 -58.7 -60.4
89.2 101.6 9.0 -214.7 -14.9
2019 Net income details
· Attributable to LX International Corp. 82.6 88.4 2.0 -144.5 28.6
· Non-Controlling Interests 6.6 13.2 7.0 -70.2 -43.5

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2020 Income statement
Subject The first quarter of 2020 The second quarter of 2020 The third quarter of 2020 The fourth quarter of 2020 2020 ㅣ TOTAL
2,449.8 2,307.3 3,155.2 3,370.3 11,282.6
2020 Sales details
· Cost of Sales 2,263.6 2,135.1 2,997.2 3,174.2 10,550.2
186.2 172.1 177.9 196.1 732.4
2020 Gross Profit details
· SG&A Expenses 136.3 141.9 143.0 151.3 572.6
Operating Profit 49.9 30.2 34.9 44.8 159.8
324.6 -2.0 -3.6 -23.0 296.1
2020 Non-Operating Profit details
· Finance Income/Costs -19.0 -12.6 -15.4 -19.1 -66.0
· Gain(loss) of Equity Method 343.5 2.8 -1.3 -5.5 339.4
· Other Income and Expenses 0.1 7.8 13.1 1.6 22.7
374.5 28.3 31.3 21.8 455.9
2020 Profit Before Tax details
· Income Tax 104.0 7.2 -10.0 -6.9 94.3
270.5 21.1 41.3 28.7 361.6
2020 Net income details
· Attributable to LX International Corp. 256.9 4.9 24.9 10.9 297.6
· Non-Controlling Interests 13.6 16.2 16.4 17.8 64.0

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2021 Income statement
Subject The first quarter of 2021 The second quarter of 2021 The third quarter of 2021 The fourth quarter of 2021 2021 ㅣ TOTAL
3,685.2 3,956.0 4,494.8 4,550.6 16,686.5
2021 Sales details
· Cost of Sales 3,425.7 3,663.7 4,120.0 4,125.8 15,335.1
259.5 292.3 374.8 424.8 1,351.4
2021 Gross Profit details
· SG&A Expenses 146.2 166.5 165.2 217.2 695.2
Operating Profit 113.3 125.8 209.6 207.6 656.2
17.5 26.2 30.8 3.9 78.5
2021 Non-Operating Profit details
· Finance Income/Costs -2.2 -9.6 -0.1 -4.7 -16.6
· Gain(loss) of Equity Method 20.7 34.1 34.2 0.6 89.7
· Other Income and Expenses -1.0 1.7 -3.3 8.0 5.4
130.8 152.0 240.4 211.5 734.7
2021 Profit Before Tax details
· Income Tax 33.0 41.0 62.2 58.2 194.4
97.8 111.0 178.2 153.3 540.3
2021 Net income details
· Attributable to LX International Corp. 61.1 76.2 120.5 92.2 350.1
· Non-Controlling Interests 36.7 34.8 57.7 61.1 190.2

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2022 Income statement
Subject The first quarter of 2022 The second quarter of 2022 The third quarter of 2022 The fourth quarter of 2022 2022 ㅣ TOTAL
4,918.1 5,020.0 4,709.4 4,112.1 18,759.5
2021 Sales details
· Cost of Sales 4,494.3 4,515.4 4,221.6 3,692.8 16,924.0
423.8 504.6 487.8 419.3 1,835.5
2022 Gross Profit details
· SG&A Expenses 178.1 215.2 215.2 261.4 870.0
Operating Profit 245.7 289.4 272.6 157.9 965.5
55.9 42.6 (5.6) 74.6 167.7
2022 Non-Operating Profit details
· Finance Income/Costs (0.0) 4.2 6.9 (34.2) (23.0)
· Gain(loss) of Equity Method 52.4 44.2 8.3 (7.3) 97.5
· Other Income and Expenses 3.5 (5.8) (20.8) 116.1 93.2
301.6 332.0 267.0 232.5 1,133.2
2022 Profit Before Tax details
· Income Tax 78.5 101.1 19.5 154.8 353.9
223.1 230.9 247.5 77.7 779.3
2022 Net income details
· Attributable to LX International Corp. 154.4 157.0 188.5 15.4 515.2
· Non-Controlling Interests 68.7 73.9 59.0 62.3 264.1

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2023 Income statement
Subject The first quarter of 2023 The second quarter of 2023 The third quarter of 2023 The fourth quarter of 2023 2023 ㅣ TOTAL
3,699.9 3,440.4 3,659.4 3,714.7 14,514.3
2023 Sales details
· Cost of Sales 3,301.7 3,069.5 3,364.5 3,403.0 13,138.7
398.2 370.9 294.9 311.7 1,375.6
2023 Gross Profit details
· SG&A Expenses 236.5 241.7 231.3 233.2 942.5
Operating Profit 161.7 129.2 63.6 78.5 433.1
50.7 (18.4) 13.1 (135.6) (90.3)
2023 Non-Operating Profit details
· Finance Income/Costs (10.2) (18.9) (27.4) (43.0) (99.5)
· Gain(loss) of Equity Method 64.4 (1.8) 40.7 34.0 137.3
· Other Income and Expenses (3.5) 2.3 (0.2) (-126.6) (128.1)
212.4 110.8 76.7 (-57.1) 342.8
2023 Profit Before Tax details
· Income Tax 56.0 38.7 27.7 27.0 149.4
156.4 72.1 49.0 (84.1) 193.4
2023 Net income details
· Attributable to LX International Corp. 125.3 40.9 37.8 (87.0) 117.1
· Non-Controlling Interests 31.1 31.2 11.2 2.9 76.3

※ Figures are based on consolidated K-IFRS.

Unit : KRW Billion

2024 Income statement
Subject The first quarter of 2024 The second quarter of 2024 The third quarter of 2024 The fourth quarter of 2024 2024 ㅣ TOTAL
3,776.1 4,073.6 7,849.7
2024 Sales details
· Cost of Sales 3,429.1 3,693.0 7,122.1
347.0 380.6 727.6
2024 Gross Profit details
· SG&A Expenses 236.3 251.0 487.3
Operating Profit 110.7 129.6 240.3
19.5 41.3 60.8
2024 Non-Operating Profit details
· Finance Income/Costs (21.8) (28.4) (50.2)
· Gain(loss) of Equity Method 32.8 69.2 102.0
· Other Income and Expenses 8.5 0.5 9.0
130.2 170.9 301.1
2024 Profit Before Tax details
· Income Tax 32.2 57.8 90.0
98.0 113.1 211.1
2024 Net income details
· Attributable to LX International Corp. 80.2 90.3 170.5
· Non-Controlling Interests 17.8 22.8 40.6

※ Figures are based on consolidated K-IFRS.

Cash Flow Table

Unit : KRW Billion

Cash Flow Table
Subject 2023 2022 2021
Cash flows from operating activities 538.3 1,222.9 175.6
Cash flows from investing activities (777.2) (522.0) (48.3)
Cash flows from financing activities (177.5) 19.9 8.2
Net increase(decrease) in cash and cash equivalents (416.4) 720.8 135.5
Cash and cash equivalents as at January 1 1,550.7 841.9 690.0
Net foreign exchange difference 4.6 (12.0) 16.4
Cash and cash equivalents as at December 31 1,138.9 1,550.7 841.9

※ Figures are based on consolidated K-IFRS.

Financial Ratios

Unit : KRW Billion

Financial Ratios
Ratios 2023 2022 2021
Stability Ratios Current ratio 154.6% 152.7% 127.6%
Liabilities to equity ratio 160.0% 154.2% 183.0%
Interesting bearing Liabilities to equity ratio 71.7% 63.5% 56.9%
Debt to equity ratio 27.6% 25.0% 20.1%
Interest coverage ratio 3.7x 16.3x 19.2x
Profitability Ratios Operating profit margin 3.0% 5.1% 3.9%
Profit before tax margin 2.4% 6.0% 4.4%
Net profit margin 1.3% 4.2% 3.2%
ROA 2.4% 10.1% 8.0%
ROE 6.3% 25.7% 22.7%
Investment Indicators EPS KRW 3,255 KRW 14,325 KRW 9,733
BPS KRW 63,172 KRW 62,867 KRW 49,348

※ Figures are based on consolidated K-IFRS.

Credit Ratings

NICE
AA-
31 March, 2023
KR
AA-
31 March, 2023
KIS
AA-
31 March, 2023

Rating Definition

  • AAA

    Capacity to pay and repay principal is extremely strong.

  • AA

    Capacity to pay and repay principal is very strong,
    but somewhat less than 'AAA'.

  • A

    Capacity to pay and repay principal is strong,
    but it is somewhat susceptible to external changes in the future.

  • BBB

    Capacity to pay and repay principal is adequate,
    but more likely to be weakened by future market changes.

  • BB

    Capacity to pay and repay principal faces no immediate problems,
    but its future stability is speculative.

  • B

    Capacity to pay and repay principal is poor. It is speculative.

  • CCC

    It may contain the possibility of default.

  • CC

    It may contain more possibility of default.

  • C

    Default is highly likely.

  • D

    In Default as of present time.

※ KIS : Korea Investors Service Inc.

※ NICE : National Information & Credit Evaluation Inc.

※ KR : Korea Ratings Corporation

External Auditor

External Auditor Information
External Auditor Information
Name Date Appointed Contract Period (Fiscal Year)
Deloitte 2022.11.30 2023. 01 ~ 2025. 12
EY 2021.12.10 2022. 01 ~ 2022. 12
Auditor’s Opinion
Auditor’s Opinion
Year 2021 2020 2019
Opinion unqualified unqualified unqualified

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