This Day On The Street
Continue to site
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

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

Taking a closer look, operating revenues rose 9.6% to KRW31.6 trillion. Power sales revenue, the principal component of our operating revenues, went up by 8.2% totaling KRW29.9 trillion. This increase is attributed mainly to the overall average tariff increase of 3.5% in August 2010, and 4.9% in August 2011 as well as 5.6% growth in power sales volume, which was caused by increased demand (inaudible). Operating expenses witnessed a 15.3% rise in the third quarter of 2011 compared to the same period last year, recording KRW21.9 trillion.

KEPCO’s total operating expenses, fuels costs increased 14.8% year-on-year to KRW15.8 trillion in the third quarter of 2011. The rise in fuel costs can be attributed to a 1.2% increase in power generation due to rising power demand and a 13.6% jump in unit cost of fuel such as coal and LNG. At this time, I will explain KEPCO’s financial income and expenses. The company’s net financial loss for the third quarter of 2011 was KRW1.7 trillion, an increase of 23.4% compared to the KRW1.4 trillion net loss in the third quarter of 2010. This is attributable to increase in interest payments and increase in FX related loss.

[Foreign Language – Korean]

Equity net income of KEPCO affiliates totaled KRW118 billion, an increase of KRW52 billion over the KRW66 billion recorded in the third quarter of 2010. This is primarily attributable to a significant rise in net income from our overseas affiliates which recovered from a KRW17 billion net loss in the third quarter of 2010, to a KRW70 billion net income in the third quarter of 2011. As a result of the above factors, we recorded a net loss of KRW1.37 trillion for the third quarter of 2011 as compared to a net loss of KRW185 billion for the third quarter of last year. This concludes my overview of KEPCO’s earnings results for the third quarter of 2011.

2 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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs