Cash flow KT&G Corporation

Equities

A033780

KR7033780008

Tobacco

End-of-day quote Korea S.E. Other stock markets 14/01/2025			5-day change	1st Jan Change
109,000.00 ^KRW	-0.46%		+2.54%	+1.77%

01-14	South Korea's KT&G Expands into Uzbekistan with New Subsidiary	MT
12-16	KT&G Establishes Eurasian Production Hub in Kazakhstan	CI

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Published financial data: KT&G CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	4,963B	5,302B	5,228B	5,851B	5,863B
Other Revenues, Total	-	-	-	-10	-
Total Revenues	4,963B	5,302B	5,228B	5,851B	5,863B
Cost of Goods Sold, Total	2,102B	2,345B	2,366B	2,907B	3,071B
Gross Profit	2,862B	2,956B	2,863B	2,944B	2,791B
Selling General & Admin Expenses, Total	1,298B	1,353B	1,364B	1,512B	1,477B
Provision for Bad Debts	37B	-29.38B	-6.05B	5.61B	-17.03B
R&D Expenses	49.67B	52.72B	63.54B	50.53B	50.66B
Depreciation & Amortization - (IS)	60.61B	62.19B	59.34B	55.24B	60B
Amortization of Goodwill and Intangible Assets - (IS)	7.21B	8.34B	14.34B	22.01B	24.8B
Other Operating Expenses	29.07B	27.8B	29.52B	31.47B	28.22B
Other Operating Expenses, Total	1,482B	1,475B	1,524B	1,677B	1,624B
Operating Income	1,380B	1,481B	1,338B	1,268B	1,167B
Interest Expense, Total	-6.85B	-6B	-17.84B	-34.77B	-45.71B
Interest And Investment Income	46.77B	44.57B	38B	64.06B	97.78B
Net Interest Expenses	39.92B	38.57B	20.16B	29.29B	52.07B
Income (Loss) On Equity Invest.	1.68B	4.14B	11.55B	29.52B	9.62B
Currency Exchange Gains (Loss)	49.35B	-129B	129B	105B	23.57B
Other Non Operating Income (Expenses)	-40.02B	9.28B	-49.86B	-38.25B	-17.38B
EBT, Excl. Unusual Items	1,431B	1,404B	1,449B	1,393B	1,235B
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	42.92B	65.78B	16.08B	24.88B	19.22B
Gain (Loss) On Sale Of Assets	-5.26B	148B	-1.23B	35.87B	7.98B
Asset Writedown	-7.93B	-5.05B	-24.57B	-24.46B	-14.04B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	1,460B	1,612B	1,440B	1,430B	1,248B
Income Tax Expense	423B	440B	415B	416B	319B
Earnings From Continuing Operations	1,037B	1,172B	1,024B	1,014B	930B
Earnings Of Discontinued Operations	-	-	-52.35B	-8.59B	-7.18B
Net Income to Company	1,037B	1,172B	972B	1,005B	922B
Minority Interest	-2.2B	91.37M	5.5B	10.46B	-19.7B
Net Income - (IS)	1,035B	1,172B	977B	1,016B	903B
Net Income to Common Incl Extra Items	1,035B	1,172B	977B	1,016B	903B
Net Income to Common Excl. Extra Items	1,035B	1,172B	1,030B	1,024B	910B
Per Share Items
Net EPS - Basic	8.2K	9.32K	7.9K	8.49K	7.84K
Basic EPS - Continuing Operations	8.2K	9.32K	8.32K	8.56K	7.91K
Basic Weighted Average Shares Outstanding	126M	126M	124M	120M	115M
Net EPS - Diluted	8.2K	9.32K	7.9K	8.49K	7.84K
Diluted EPS - Continuing Operations	8.2K	9.32K	8.32K	8.56K	7.91K
Diluted Weighted Average Shares Outstanding	126M	126M	124M	120M	115M
Normalized Basic EPS	7.06K	6.98K	7.37K	7.36K	6.54K
Normalized Diluted EPS	7.06K	6.98K	7.37K	7.36K	6.54K
Dividend Per Share	4.4K	4.8K	4.8K	5K	5.2K
Payout Ratio	48.8	47.53	60.94	56.7	86.02
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	1,565B	1,684B	1,556B	1,493B	1,408B
EBITA	1,387B	1,490B	1,353B	1,290B	1,198B
EBIT	1,380B	1,481B	1,338B	1,268B	1,167B
EBITDAR	1,581B	1,700B	1,571B	1,513B	1,427B
Effective Tax Rate - (Ratio)	28.97	27.32	28.86	29.07	25.54
Total Current Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	-	-	-
Normalized Net Income	892B	878B	911B	881B	752B
Interest Capitalized	-	-	-	-	5.61B
Non-Cash Pension Expense	-	-	-	-	-2.55B
Supplemental Operating Expense Items
Advertising Expense	276B	275B	301B	311B	307B
Selling and Marketing Expenses	719B	757B	781B	822B	778B
General and Administrative Expenses	13.76B	10.87B	10.56B	11.6B	13.86B
Research And Development Expense From Footnotes	49.67B	52.72B	63.54B	50.53B	50.66B
Net Rental Expense, Total	15.75B	15.45B	14.98B	19.64B	18.67B
Imputed Operating Lease Interest Expense	4.37B	4.63B	13.31B	30.31B	-
Imputed Operating Lease Depreciation	11.38B	10.82B	1.67B	-10.67B	-
Maintenance & Repair Expenses, Total	13.04B	13.89B	15.48B	15.97B	16.98B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	891B	1,254B	947B	1,401B	1,032B
Short Term Investments	398B	408B	457B	201B	294B
Trading Asset Securities, Total	1,239B	914B	965B	393B	343B
Total Cash And Short Term Investments	2,529B	2,576B	2,369B	1,995B	1,669B
Accounts Receivable, Total	942B	1,116B	905B	1,367B	1,329B
Other Receivables	322B	313B	367B	381B	371B
Notes Receivable	11.3B	14.63B	17.12B	19.18B	58.99B
Total Receivables	1,275B	1,443B	1,289B	1,767B	1,759B
Inventory	2,447B	2,535B	2,375B	2,576B	2,764B
Prepaid Expenses	33.35B	39.98B	53.26B	58.71B	66.69B
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	129B	154B	149B	113B	160B
Total Current Assets	6,413B	6,748B	6,236B	6,510B	6,418B
Gross Property Plant And Equipment	3,685B	3,752B	3,861B	4,079B	4,418B
Accumulated Depreciation	-1,886B	-1,985B	-2,083B	-2,202B	-2,272B
Net Property Plant And Equipment	1,799B	1,768B	1,777B	1,877B	2,145B
Long-term Investments	1,310B	1,545B	2,027B	2,281B	2,613B
Goodwill	18.98B	16.36B	0	0	0
Other Intangibles, Total	111B	118B	146B	168B	175B
Accounts Receivable Long-Term	324M	-	-	-	-
Loans Receivable Long-Term	38.11B	54.6B	60.83B	52.89B	87.73B
Deferred Tax Assets Long-Term	49.15B	50.93B	52.56B	55.76B	74.95B
Other Long-Term Assets, Total	1,013B	1,168B	1,338B	1,357B	1,258B
Total Assets	10,752B	11,468B	11,637B	12,302B	12,772B
Liabilities
Accounts Payable, Total	62.14B	57.9B	60.34B	221B	261B
Accrued Expenses, Total	806B	798B	979B	970B	1,013B
Short-term Borrowings	27.07B	17.31B	75.43B	72.63B	61.58B
Current Portion of Long-Term Debt	5.28B	37.51B	2.17B	4.13B	27.52B
Current Portion of Leases	18.91B	19.88B	17.18B	16.56B	18.7B
Current Income Taxes Payable	213B	235B	236B	219B	191B
Other Current Liabilities	468B	826B	694B	1,024B	1,100B
Total Current Liabilities	1,600B	1,991B	2,064B	2,527B	2,672B
Long-Term Debt	90.95B	53.49B	53.2B	78.81B	470B
Long-Term Leases	24.4B	25.83B	19.38B	21.05B	27.78B
Pension & Other Post Retirement Benefits	91.08B	113B	57.74B	32.48B	36.04B
Deferred Tax Liability Non Current	137B	131B	148B	181B	186B
Other Non Current Liabilities	69.72B	62.48B	86.05B	102B	85.5B
Total Liabilities	2,013B	2,377B	2,428B	2,943B	3,478B
Common Stock, Total	955B	955B	955B	955B	955B
Additional Paid In Capital	533B	533B	533B	533B	534B
Retained Earnings	7,617B	8,080B	8,550B	9,131B	8,979B
Treasury Stock	-319B	-532B	-880B	-1,237B	-1,237B
Comprehensive Income and Other	-102B	-150	-140	-66.98B	-56.57B
Total Common Equity	8,684B	9,037B	9,159B	9,316B	9,174B
Minority Interest	55.37B	54.72B	50.08B	42.94B	121B
Total Equity	8,740B	9,092B	9,209B	9,359B	9,295B
Total Liabilities And Equity	10,752B	11,468B	11,637B	12,302B	12,772B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	127M	124M	120M	116M	113M
ECS Total Common Shares Outstanding	127M	124M	120M	116M	113M
Book Value / Share	68.61K	72.83K	76.34K	80.11K	81.33K
Tangible Book Value	8,555B	8,903B	9,013B	9,148B	8,999B
Tangible Book Value Per Share	67.58K	71.75K	75.12K	78.67K	79.77K
Total Debt	167B	154B	167B	193B	605B
Net Debt	-2,362B	-2,422B	-2,202B	-1,802B	-1,064B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	22.65B
Debt Equivalent Oper. Leases	126B	124B	120B	157B	149B
Minority Interest, Total (Incl. Fin. Div)	55.37B	54.72B	50.08B	42.94B	121B
Equity Method Investments, Total	49.39B	132B	85.77B	275B	471B
Account Code - Inventory Valuation	-	-	-	-	-
Inventories - Raw Materials, Total	880B	940B	906B	979B	1,099B
Inventories - Work In Process, Total	651B	667B	1,048B	1,085B	1,064B
Inventories - Finished Goods, Total	942B	953B	474B	562B	650B
Inventories - Others	480	-360	-460	-	-
Land - (BS)	566B	494B	511B	491B	527B
Buildings, Total	1,170B	1,205B	1,192B	1,192B	1,309B
Machinery, Total	1,765B	1,867B	1,955B	2,058B	2,144B
Full Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	120B	86.06B	77.68B	78.67B	59.45B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1,035B	1,172B	977B	1,016B	903B
Depreciation & Amortization - CF	178B	195B	203B	203B	211B
Amortization of Goodwill and Intangible Assets - (CF)	7.4B	8.54B	14.49B	22.29B	30.23B
Depreciation & Amortization, Total	185B	203B	217B	225B	241B
(Gain) Loss From Sale Of Asset	5.26B	-148B	1.23B	-35.83B	-7.98B
(Gain) Loss on Sale of Investments - (CF)	-134M	-	-634M	-192M	-9M
Asset Writedown & Restructuring Costs	7.56B	4.12B	24.9B	24.65B	10.46B
(Income) Loss On Equity Investments - (CF)	-1.54B	-4.14B	-10.91B	-29.37B	-9.61B
Stock-Based Compensation (CF)	-	-	-	-	158M
Provision and Write-off of Bad Debts	37.37B	-28.45B	-6.39B	5.42B	-13.2B
Other Operating Activities, Total	33.54B	111B	-4.98B	2.49B	-42.92B
Change In Accounts Receivable	-85.93B	-250B	252B	-549B	8.71B
Change In Inventories	426M	-77.32B	66.08B	-98.36B	18.98B
Change In Accounts Payable	58.76B	-14.32B	48.2B	545B	338B
Change In Income Taxes	17.68B	310B	122B	-42.32B	-28.36B
Change in Other Net Operating Assets	-251B	-16.18B	-266B	-176B	-152B
Cash from Operations	1,042B	1,262B	1,420B	888B	1,266B
Capital Expenditure	-479B	-303B	-334B	-273B	-497B
Sale of Property, Plant, and Equipment	3.74B	9.22B	5.77B	6.02B	20.06B
Cash Acquisitions	-	-	-	-	-47.3B
Divestitures	-	-	-	-	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-33.85B	-33.1B	-43.52B	-41.2B	-39.58B
Investment in Marketable and Equity Securities, Total	129B	297B	-218B	717B	-285B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-6.61B	-20.39B	-6.1B	5.84B	-82.57B
Other Investing Activities, Total	-72.49B	-35.89B	-201B	133B	83.11B
Cash from Investing	-459B	-85.83B	-798B	548B	-848B
Long-Term Debt Issued, Total	202B	151B	167B	250B	2,176B
Total Debt Issued	202B	151B	167B	250B	2,176B
Long-Term Debt Repaid, Total	-326B	-186B	-167B	-237B	-1,847B
Total Debt Repaid	-326B	-186B	-167B	-237B	-1,847B
Issuance of Common Stock	-	813K	-	-	-
Repurchase of Common Stock	-	-213B	-348B	-357B	-303B
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-505B	-557B	-596B	-576B	-776B
Common & Preferred Stock Dividends Paid	-505B	-557B	-596B	-576B	-776B
Other Financing Activities, Total	-3.58B	-3.37B	-3.2B	-11.4B	-25.41B
Cash from Financing	-632B	-809B	-948B	-932B	-776B
Foreign Exchange Rate Adjustments	7.18B	-4.64B	18.32B	-49.2B	-10.94B
Miscellaneous Cash Flow Adjustments	30	-	-	-	-
Net Change in Cash	-41.66B	362B	-307B	454B	-369B
Supplemental Items
Cash Interest Paid	3.58B	3.37B	3.2B	10.2B	25.41B
Cash Income Tax Paid (Refund)	422B	424B	413B	422B	380B
Levered Free Cash Flow	441B	870B	1,022B	499B	302B
Unlevered Free Cash Flow	446B	874B	1,033B	521B	330B
Change In Net Working Capital	89.5B	-80.49B	-358B	183B	104B
Net Debt Issued / Repaid	-124B	-35.74B	-422M	12.47B	329B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	8.23	8.33	7.24	6.62	5.82
Return on Total Capital	9.97	10.2	8.98	8.37	7.5
Return On Equity %	12.27	13.14	11.19	10.92	9.97
Return on Common Equity	12.32	13.22	11.32	11.09	9.84
Margin Analysis
Gross Profit Margin %	57.66	55.76	54.75	50.32	47.61
SG&A Margin	26.16	25.53	26.08	25.84	25.2
EBITDA Margin %	31.53	31.77	29.75	25.52	24.02
EBITA Margin %	27.95	28.1	25.88	22.04	20.43
EBIT Margin %	27.8	27.94	25.6	21.66	19.91
Income From Continuing Operations Margin %	20.9	22.1	19.59	17.33	15.86
Net Income Margin %	20.85	22.1	18.69	17.36	15.4
Net Avail. For Common Margin %	20.85	22.1	19.69	17.51	15.52
Normalized Net Income Margin	17.97	16.55	17.43	15.06	12.83
Levered Free Cash Flow Margin	8.89	16.41	19.55	8.53	5.14
Unlevered Free Cash Flow Margin	8.98	16.48	19.77	8.91	5.63
Asset Turnover
Asset Turnover	0.47	0.48	0.45	0.49	0.47
Fixed Assets Turnover	2.74