This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Korea Electric Power Management Discusses Q3 2011 Results - Earnings Call Transcript

Korea Electric Power Corporation ( KEP)

Q3 2011 Earnings Call

November 16, 2011 3:00 AM ET

Executives

Chang-Keun Shin – VP, Treasury Department

Changyoung Ji – Senior Manager, IR

Analysts

Geoffrey Boyd – CLSA

Presentation

Operator

Good morning and good evening. First of all, thank you all for joining this conference call. And now we’ll begin the conference of the fiscal year 2011 third quarter earnings results by KEPCO. This conference will start with a presentation followed by Q&A session. (Operator Instructions) Now we shall commence the presentation on the fiscal year 2011 third quarter earnings results by KEPCO.

Chang-Keun Shin

Good morning and good afternoon everyone. My name is Chang-Keun Shin, Vice President of KEPCO’s Treasury Department. It is a pleasure to have this opportunity to announce KEPCO’s earnings results for the third quarter of 2011. On behalf of KEPCO, I would like to thank you all for participating in this conference call today. Today’s call will begin with a brief presentation on our earnings results after which an opportunity for Q&A will follow.

Please note that the financial information that we disclosed today is preliminary and is on consolidated basis. At this time, Mr. Changyoung Ji, Senior Manager of KEPCO’s IR team will provide you with an overview of our earnings results.

Changyoung Ji

Hello everyone, my name is Changyoung Ji and I am going to briefly run through the financial results for the third quarter of 2011, starting with operating income. In the third quarter of 2011, KEPCO recorded a net operating income of KRW177 billion, a year-on-year increase of KRW1.5 trillion compared to the net operating income of KRW1.6 trillion recorded in the same period last year. Despite the increase in power sales revenue, followed by a tariff hike in August 2010 and August 2011 as well as an increase in the volume of power sales, decrease in net operating income was primarily due to increased fuel costs and power purchase costs which went up 14.8% and 44.9% respectively compared to the third quarter of 2010.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs