Kiwoom Securities Co., Ltd · KRX:039490
Kiwoom Securities — FY2009 Q2 Earnings Presentation
20 slides from Kiwoom Securities's earnings presentation, Nov 18, 2009
Slide 1: Investor Relations FY2009 Q2
Investor Relations FY2009 Q2 Kiwoom Securities Co., Ltd. “No. 1 Securities Broker in Korea”
Slide 2: Disclaimer
Disclaimer All reasonable measures have been taken to ensure the quality and accuracy of the information available in this document. Kiwoom Securities Co., Ltd. makes no warranty, express or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, completeness or use
Slide 3: Company Overview
Company Overview ◈ Kiwoom Securities Co., Ltd. is an online-based financial investment company with a full securities business license, including underwriting, dealing and brokerage of the securities product. ◈ Kiwoom, being an early adaptor of deep-discount brokerage in the Korean market, has bee
Slide 4: Company Profile
Company Profile Establishment January 2000 * Last updated: 06 Nov 09 ** Last updated: 30 Sep 09 *** Last Updated: 28 Oct 09 C.E.O. Mr. Yongwon Kwon Employees 423 * Listing KOSPI-listed 2009 (A039490 KS) Shareholder‟s Equity KRW 488.6 bln ** Outstanding Shares 19,459,476 Common Stock Shares 2,244,6
Slide 5: Daou Tech. – Profile & Business Relationship
Daou Tech. – Profile & Business Relationship Company Profile Business Relationship Capital Stock 22.4Bn KRW (FY09 1H) ◈ Major shareholder & parent company of Kiwoom Securities Co., Ltd. Total Assets 47.9Bn KRW ◈ Over 23 years’ experience in IT industry Total Capital 41.1Bn KRW Total issued stock 4
Slide 6: "No.1" Securities Broker in Korea
“No.1” Securities Broker in Korea Online-based No brick-and-mortar branch Deep Discount Low brokerage commission rate Market Leader Highest brokerage market share Net Revenue Breakdown (KRW bln) Operating Profit vs KOSPI Growth Rate 40 40% AM Others 0.5% 0.1% 30 30% 9.9% 20 20% 6.1% IB 10 10
Slide 7: Continuous and Unbeatable Market Expansion
Continuous and Unbeatable Market Expansion First Customer “No.1” Efficient Mover Oriented Securities HTS Advantage Approach Broker Market Share in Total Brokerage Sector Market Share in Online Brokerage Sector 16% 25% Kiwoom Others Kiwoom Others 21.61% 14% 20% 11.95% 12% 10% 15% 8% 5.89% 10% 6% 6.
Slide 8: Higher the Market Share, Larger the Customer Base
Higher the Market Share, Larger the Customer Base •Competitive • Online Steady High Deep Commission Consulting Growth of Increase of Highest Quality Continuous Discount Rate • Voice-of- Customer Customer Market Customer M/S Growth Broker •Strong Brand Customer Base Asset and Share Service Power Pr
Slide 9: Technology Prowess
Technology Prowess User-friendly & Diverse Trading Tools: HTS, WTS, Web, Mobile and Instant Messenger Effectiveness: Powerful yet easy and speedy-designed for active traders Compatibility: Low maintenance cost and flexible upgrades supported by powerful IT parent Kiwoom Order System Structur
Slide 10: Interest: Veiled Source of Revenue
Interest: Veiled Source of Revenue Interest Revenue generated from; Interest from • Customer Cash Deposit Interest Customer Loan ↓ Rate & Cash Deposit ↑ • Customers’ Loan Interest Revenue is highly dependant on; Interest from Customers‟ Loan ↑ Interest • Balance of Customers’ Loan & Deposit Ra
Slide 11: Additional Source of Revenue
Additional Source of Revenue (KRW mil) Revenue of Fixed-income Brokerage 4,500 Fixed- income 4,000 Brokerage 3,733 3,500 3,000 2,500 Principal Investment Investment Banking 2,000 1,500 Domestic Equity Brokerage 1,000 500 0 FY06 Q2 Q3 Q4 FY07 Q2 Q3 Q4 FY08 Q2 Q3 Q4 FY09 Q2 Cross- Online Fund (KRW m
Slide 12: Appendices
APPENDICES 1. FINANCIAL HIGHLIGHTS 2. BALANCE SHEET 3. INCOME STATEMENT 4, EQUITY MARKET DATA 5. MARKET SHARE DATA 6. CUSTOMER-RELATED DATA
Slide 13: Appendix 1: Financial Highlights
Appendix 1: Financial Highlights (KRW bln, %) 2,705 489 451 47.4% 352 1,741 34.5% 30.4% 1,308 1,090 21.1% 163 833 126 13.5% FY05 FY06 FY07 FY08 FY09 1H FY05 FY06 FY07 FY08 FY09 1H FY05 FY06 FY07 FY08 FY09 1H * TOTAL ASSETS SHAREHOLDER‟S EQUITY ROE * Calculated with annualized net income 90 207 125 1
Slide 14: Appendix 2: Balance Sheet
Appendix 2: Balance Sheet (KRW mil) (KRW mil) FY09 1H FY08 FY07 FY06 FY05 FY04 FY03 Total Assets 2,913,642 1,741,188 1,308,436 Total Assets 1,090,247 833,019 492,012 318,203 I. Current Assets 1,042,578 787,501 457,995 295,419 1. Cash & Deposit 1,284,104 1,146,557 639,954 1.Cash and financial Inst. 5
Slide 15: Appendix 3-1: Annual Income Statement
Appendix 3-1: Annual Income Statement (KRW mil) FY091H FY08 FY07 FY06 FY05 FY04 Net Revenue 121,115 175,461 206,976 123,341 116,985 55,233 Brokerage Commission 63,927 97,355 104,006 60,456 69,315 36,463 Interest 34,164 61,758 68,308 40,463 35,749 11,935 Asset Management 585 1,015 1,189 103 78 80 Inv
Slide 16: Appendix 3-2: Quarterly Income Statement
Appendix 3-2: Quarterly Income Statement (KRW mil) FY09Q2 FY09Q1 FY08Q4 FY08Q3 FY08Q2 FY08Q1 Net Revenue 57,787 63,328 44,798 50,018 38,477 42,168 Brokerage Commission 31,483 32,444 23,224 35,389 19,342 19,401 Interest 16,707 17,457 12,804 14,280 16,612 18,062 Asset Management 264 321 275 206 212 32
Slide 17: Appendix 4: Equity Market Data
Appendix 4: Equity Market Data Market Trading (KRW trn) Trading Value in Stock Market (KRW trn) On/Off line (%) Investor Breakdown (%) Value (in KRW trn) 300 12 Daily Domestic [Source: KRX] Total Online Offline Individuals Foreigners Average Institutions Total Trading Value 250 10 FY07 141.7 6.7 53.
Slide 18: Appendix 5: Market Share Data
Appendix 5: Market Share Data Total Brokerage Market Share KIWOOM KIWOOM 16% Total Retail Online Total Retail Online FY04 FY07 14% Apr 4.59% 7.09% 9.10% Apr 8.50% 12.73% 15.60% May 5.47% 8.33% 10.16% May 8.34% 12.67% 15.80% 11.95% 12% Jun 6.08% 9.38% 11.41% Jun 8.48% 12.57% 15.61% Jul 7.26% 10.69% 1
Slide 19: Appendix 6: Customer-related Data
Appendix 6: Customer-related Data (KRW bln) Customer Cash Deposit Customer Customers„ Loan (KRW bln) Customer No. of Assets Cash Deposit 1,400 Accounts (KRW bln) Short-term Long-term Collateral (KRW bln) 1,264 Margin Margin 1,200 FY03 823 133,700 32 211 Q2 829 144,337 35 4 197 1,000 Q3 903 158,545 3
Slide 20: IR Contact
& IR Contact IR Team ir@kiwoom.com +82-2-3787-5236