Kia 2004 Annual Report Download - page 93

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93
KIA Motors_2004 Annual Report
STOCK INDICATOR
347,230
10,900
113.2%
15.6%
2.6%
1.65x
8.47x
5.53x
1,972
14.22%
3.68x
36.52%
7%
17.5%
2004 2003 2002
359,730
10,900
127.2%
20.4%
4.4%
1.67x
11.90x
5.13x
2,123
17.98%
3.22x
33.10%
7%
16.3%
369,730
8,800
127.3%
16.8%
Net Cash
1.35x
7.39x
4.76x
1,849
18.92%
2.88x
17.26%
5%
13.5%
No. of Shares (in thousands)
Stock Price (Based on the Closing price, KRW)
Liability / Equity
Total Debt / Total Asset
Net Debt / Equity
Total Debt / EBITDA
EBITDA / Interest Expense
PER (Price Earnings Ratio)
EPS (Earnings per Share, KRW)
ROE (Return on Equity)
EV / EBITDA
Equity held by Foreigners
Dividend Rate
Dividend Payout Ratio
The price movement of Kia Motors shares mainly followed the KOSPI average, and return remained slightly lower than the market rate. Even though the com pany
bought back and cancelled 12.5 million shares, the share price lagged because the num ber of outstanding shares remained excessive in com parison to the scale of
operations.
Other factors negatively affected share performance as well. The productivity of dom estic sales organization was evaluated to have weakened. Sales for RVs (SUVs,
minivans and MPVs), Kia's mainstay product segment, were sluggish because of the changing government policy towards automobiles (a new tax regime, higher
diesel prices, etc.). At the same tim e, prices for raw and secondary materials rose, while the Korean Won has appreciated sharply against the Dollar since the fourth
quarter of 2004.
On January 2, 2004, the share price stood at W11,400. It peaked at ￦12,350 on April 8, bottom ed out at ￦8,600 on August 6 and closed the year at ￦10,900.
In the first quarter of 2005, overhang related with creditors and Hyundai Capital was reduced. And Mr. Eui-Sun Chung, Kia Motors' new president & CEO, took over
1.01% ownership of the Company. Inefficiencies in production and sales will be eliminated, while synergy with Hyundai Motor will be increased. These
developments are expected to bolster the com pany's fundamentals.
Meanwhile, Kia is scheduled to introduce new models in the key minivan and mid-size sedan segments in 2005. Steadily rising sales outside Korea, especially in
Europe, are also helping to elevate the price of the company's shares. On March 14, 2005, the share price reached ￦15,650, the first time it has topped the ￦15,000
mark since April 2002.
KIA MOTORS SHARE PRICE VS. KOSPI