Korea Line : Changesof 30% or More in Salesor Profits/Losses(15% or More in the Case of Large-sized Corporations)
February 21, 2022 at 04:41 am
Share
Changes of 30% or More in Sales or Profits/Losses (15% or More in the Case of Large-sized Corporations)
※ Note that this disclosure is stated by the concerned company, thus the details may be changed according to audit results. Refer to the disclosure "Submission of Audit Report" for finalized details.
1. Type of financial statements
Consolidated financial statements
2. Details of changes (KRW thou.)
Current fiscal year
Previous fiscal year
Amount increased/ decreased
Increase/ decrease rate (%)
- Sales (limited to amount of revenue according to sales of goods and services provided)
1,153,843,059
884,078,269
269,764,790
30.5
- Operating income
203,921,089
145,937,799
57,983,290
39.7
- Net income from continuing operation before income tax
323,860,972
26,566,568
297,294,404
1119.1
- Net income
306,589,438
27,527,431
279,062,007
1013.8
- Classified as a large-sized corporation?
Yes
3. Financial status (KRW thou.)
Current fiscal year
Previous fiscal year
- Total assets
3,859,734,559
3,345,588,771
- Total liabilities
2,341,620,169
2,492,265,618
- Total shareholders' equity
1,518,114,390
853,323,153
- Capital stock
159,588,730
122,135,545
- Total shareholders' equity/capital stock ratio (%)
951.3
698.7
4. Main causes for changes in sales or profits/losses amount
- Increased sales and operating profit/net income due to the shipping market conditions, rising oil prices, and the incorporation of Chang Myung Shipping Co.,Ltd as a new target of consolidation
- Increased net income due to the reversal of provisioning liabilities following the winning of the second trial in the litigation for assigned claim for payments and the gains on the disposal of tangible assets from the sale of ships
5. Date of board resolution (decision date)
2022-02-15
- Attendance of outside directors
Present (No.)
4
Absent (No.)
0
- Attendance of auditors (members of Audit Committee who are not outside directors)
-
6. Other matters to be factored into investment decisions
1. The financial statements are consolidated financial statements prepared in accordance with Korean International Financial Reporting Standards (K-IFRS).
2. The results for the current fiscal year (2021) and the status as a large-scale corporation are subject to change according to external audit results and the approval process at the general meeting of shareholders.
※ Related disclosure
-
[Matters Related to Parent Company]
Category
Financial statements
Current fiscal year
Previous fiscal year
Total shareholders' equity (excluding non-controlling shareholders' equity)
Consolidated financial statements
1,286,595,138
772,317,246
Total shareholders' equity/capital stock ratio(%) (excluding non-controlling shareholders' equity)
Consolidated financial statements
806.2
632.3
Sales amount (limited to amount of revenue according to sales of goods and services provided) (KRW thou.)
Non-consolidated financial statements
476,312,830
500,046,204
Attachments
Original Link
Original Document
Permalink
Disclaimer
Korea Line Corporation published this content on 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 04:40:00 UTC.
Korea Line Corp is a Korea-based company engaged in the provision of marine transportation services. The Company operates a fleet of carriers, including bulk carriers for iron ore, liquefied natural gas (LNG) carriers for natural gas, and tankers for oil and petroleum products. The Company is also involved in the import and export of products such as steel; iron ore production; mold making; government ordered construction; ship management and parts supply and other businesses.