2. 2
Important Notice
This presentation of Hyundai Heavy Industries (HHI) contains forward-looking statements relating to HHI’s
operations that are based on management’s current expectations, estimates and projections. Words such as
“anticipates”, “expects”, “intends”, “plans”, “projects”, “schedules”, “estimates” and similar expressions are
intended to identify such forward-looking statements. These statements are not guarantees of future performance
and are subject to certain risks, uncertainties, and other factors including new order flows, FX rates, steel plate
prices and so on, some of which are beyond company’s control and are difficult to predict. Therefore, actual
outcomes and actual results may differ materially from what is expressed or forecasted in such forward-looking
statements. The reader should not place undue reliance on these forward-looking statements. HHI undertakes no
obligation to update any forward-looking statements to reflect subsequent events.
3. 3
Contents
H H I at a Glance
Business Performance
Financial Performance
Appendix (Quarterly Results)
5. 5
Date of Establishment : 1973. 12. 28
Date of Listing : 1999. 8. 24
No. of issued stocks: 76,000,000 stocks
Paid-in Capital : KRW 380 bil.
Market Value : KRW 18,392 bil. (As of December 31, 2012)
Credit Rating : A1 (Commercial Paper), AA+ (Corporate Bond)
Korea’s large conglomerate ranking : 7th
(Excluding public companies, based on total assets, As of December 31, 2012)
No. of employees : 25,111 (Average 17.9 years of continuous service)
No. of dry docks : 10 (Shipbuilding), 1 (Offshore & Engineering)
Business Division : Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering,
Engine & Machinery, Electro Electric Systems, Construction Equipment, Green Energy
Summary
6. 6
1973. 12 Establishment of Hyundai Shipbuilding & Heavy Industry Co., Ltd.
1974. 6 Inauguration of the Shipyard and Simultaneous Naming of First Two Supertankers
1978. 2 Change of Company Name to Hyundai Heavy Industries Co., Ltd.
1975.3~1985.6 Established Special Vessels, Offshore & Engineering, Industrial Plant & Engineering,
Engine & Machinery, Electro Electric Systems, Construction Equipment Divisions
1994. 6 Listed on the Korean Securities Dealers Automated Quotations,
Delivery of Korea’s First LNG Carrier
1999. 8 Listed on the Korean Stock Exchange
2002. 2 Disaffiliated from Hyundai Group and creation of Hyundai Heavy Industries group
(Hyundai Heavy Industries Co., Ltd., Asan Foundation and six other companies)
2002. 5 Acquired Samho Heavy Industries Co., Ltd.
2008. 9 Acquired HI Investment and Securities Co., Ltd. and HI Asset Management Co., Ltd.
(Underwriting company : Hyundai Mipo Dockyard Co., Ltd. )
2009. 12 Acquired Hyundai Corporation
2010. 8 Acquired Hyundai Oilbank Co., Ltd. (70% of Ownership and management)
2011. 2 Became the world’s first shipbuilder to deliver 1,700th ship
History
7. 7
Ownership Structure
Chung Mong-joon
10.15%
Hyundai Mipo
Dockyard Co., Ltd.
7.98%
National Pension
Service 5.62%
KCC 3.12%
Hyundai Motors
2.88%
Asan Foundation
2.53%
POSCO 1.94%
Asan Nanum
Foundation 0.65%
Treasury
Shares19.36%
Others 45.77%
(As of December 31, 2012)
(Foreign Ownership : 19.28% )
9. 9
First to build LNG Carrier in Korea
(Jun. 1994)
• 125,000 m3
Achieved world record production in 2-stroke
Markne engines (Sep. 2010)
• 100 million bhp
Delivery of the World’s Biggest Jacket
(May, 1989)
• Exxon (U.S.A)
• 40,000 ton
No.1 in Global shipbuilding Market
(Since 1983)
• HHI, HSHI, HMD : 12.16%
(2011 delivery basis)
Recognized for building the ‘World Best
Ship’ for the 29th consecutive year
(Since 1983)
• Total 47 ships, World shipbuilding publications
(Maritime Report and Marine Log)
Business Highlights
Completed World’s largest Saudi
Marafiq power plant (Apr. 2011)
• power generation 2,750 MW + desalination
176 MIGD
Achieved domestic record production in
Transformers (Feb. 2010)
• 600,000 MVA
Completion of World’s Largest Elf
Girassol FPSO (Feb. 2001)
• 343,000 Ton
10. 10
Business Structure
Shipbuilding
Industrial Plant
Engine &
Machinery
Offshore &
Engineering
Construction
Equipment
Electro Electric
Systems
DSME (KOR)
SHI (KOR)
DSME, SHI (KOR)
Technip (FR)
Saipem (Italy)
McDermott (USA)
Stolt Offshore (FR)
Siemens (GER)
Hyundai E&C (KOR)
Doosan Heavy (KOR)
Samsung C&T Corporation
(KOR)
Doosan, STX (KOR)
Mitsui (JPN)
Hudong, Dalian(China)
ABB (Sweden)
Siemens (GER)
Hyosung (KOR)
Komatsu (JPN)
Caterpillar (USA)
Terex (USA)
Doosan Infracore (KOR)
Suntech, Yingli (CHN)
Vestas (DEN), GE (USA
HAPAG-LLOYD (GER)
C.P. OFFEN (GER)
AP MOLLER (Denmaark)
Seaspan (Canada)
Diamond Offshore (USA)
BP(UK)
ExxonMobile(USA)
SHELL(USA)
TOTAL (FR)
CHEVRON (USA)
ENI NORGE (NOR)
SHELL (US)
MEW (KUWAIT)
SEC (SAUDI)
HMD(KOR)
Shanghai (CHINA)
DSME, SHI (KOR)
State-Owned Power company
Utility, IPP company
Wagner&Co Solartechnik(GER)
MHH Solartechnik (GER)
Sun Energy Europe (GER)
Albatech (Italy)
8.00 mil. GT
Floaters : 1~2 units
Fixed Platform : 3~4 units
Pipeline laying : 30km
Power plant
: 1,000MW (4~5 projects)
Large Engines (500 units)
:18 mil bhp
Medium (1800 Units)
: 5 mil bhp
Transformer (620 units)
120,000 MVA
29,000 units
(Excavators 16,000 units)
Solar Cell/module
: 510 MW
Wind Turbine : 600 MW
Division Main Products Major Clients Competitors Capacity Sales
2013(E)
39%
18%
5%
11%
12%
13%
1%
* Others : 1%
• Excavators
• Wheel Loaders
• Forklifts
• Skid Loaders
• VLCCs, Tankers, Product Carriers, Chemical Tankers
• Containerships, Bulk Carriers, OBO Carriers
• Ro-Pax Ships, Ro-Ro Ships, Pure Car Carriers
Tankers / VLCCs
• LNG Carriers, LPG Carriers
• Drillships
• Submarines, Destroyers, Frigates
• Floating Units: FPSOs, FLNGs, FPUs, TLPs, Semi-
Submersible Units
• Fixed Platforms: Topsides, Jackets & Piles, Jack-ups,
Modules & Quarters
• Pipelines & Subsea Facilities: Subsea Pipelines
• Offshore Installations: Platforms, Pipelines
• Land-Based Modules
• Power Plants: Combined-Cycle, Cogeneration, and
Thermal Power Plants
• Process Plants: Oil and Gas, Refinery, Tank Farm,
GTL, and LNG Facilities
• Plant Equipments: Industrial Boiler, HRSG, CFBF
Boiler, Regenerator & Reactor
• Two-Stroke Diesel Engines, Four-
Stroke(HiMSEN)Engines
• Propellers and Crankshafts
• Steam Turbines and Turbochargers
• Diesel and Gas Power Plant Engines
• Industrial and Marine Pumps, Industrial Robots,
Side Thrusters
• Presses, Conveyor Systems, and Steel Strip Process Lines
• Transformers, Gas Insulated Switchgear, Switchgear
• Low- and Medium-Voltage Circuit Breakers
• Rotating Machinery
• Power Electronics and Control Systems
Green Energy • Solar/Wind Power Systems
11. 11
Power
Plant
44%
Oil & Gas
32%
Others
24%
Marine
Engine
78%
Power
Plant
Engine 8%
Hydraulic
Machinery
4%
Robotics
10%
Fixed
Platforms&
Floaters
79%
Shipbuilding
5%
Subsea
Pipeline
16%
Shipbuilding Offshore & Engineering
Electro Electric Systems
Industrial Plant & Engineering
Engine & Machinery
Sales Breakdown by Product
* The above results are based on K-IFRS 2012 sales.
Construction Equipment
Green Energy
• Solar Power : 90%
• Wind Power : 10%
Excavator
59%
Folk Lift
15%
Wheel
Loader
11%
CKD
7%
Others
8%
Transformer
34%
High Voltage
Circuit
Breaker
15%
Low Voltage
Circuit
Breaker
6%
Switchgear
16%
Rotating
Machinery
25%
Others 4%
Container
ship 33%
Tanker
21%
Bulker 2%
Drillship
21%
P/C 4%
Special
4%
PCTC 2%
LPG 5% LNG 7%
Others 1%
12. 12
2012 2013(E) Change
Shipbuilding 9,766.4 10,475.0 7.3%
Offshore & Engineering 4,372.7 4,900.0 12.1%
Industrial Plant 1,479.7 1,357.6 -8.3%
Engine & Machinery 2,967.4 2,821.3 -4.9%
Electro Electric Systems 2,842.7 3,134.0 10.2%
Construction Equipment 3,120.2 3,600.0 15.4%
Green Energy 344.2 385.0 11.9%
Others 161.7 184.1 13.9%
Total 25,055.0 26,857.0 7.2%
19,567.0
29,676.0
-
10,000.0
20,000.0
30,000.0
40,000.0
2012 2013(E)
2013 Business Plan
Sales (bil. KRW)
2012 2013(E) Change
Shipbuilding 6,143.0 7,750.0 26.2%
Offshore & Engineering 2,072.0 6,000.0 189.6%
Industrial Plant 4,077.0 6,000.0 47.2%
Engine & Machinery 1,858.0 3,100.0 66.8%
Electro Electric Systems 2,318.0 3,160.0 36.3%
Construction Equipment 2,773.0 3,272.0 18.0%
Green Energy 326.0 394.0 20.9%
Total 19,567.0 29,676.0 51.7%
New Orders (mil. USD)
New orders (mil. USD)
+51.7%
25,086.0 26,857.0
-
10,000.0
20,000.0
30,000.0
2012 2013(E)
Sales (bil. KRW)
+7.2%
13. 13
25 affiliated companies in Hyundai Heavy Industries Group (Overseas corporations excluded)
Affiliates
• Changjuk Wind Power : As of Jan. 3. 2011, the date of addition as an affiliate
• Hyundai Energy & Resources : As of May. 2. 2011, the date of addition as an affiliate
• New Korea Country Club & Hyundai Oil Terminal Co., Ltd.: As of March. 2. 2012, the date of addition as an affiliate
14. 14
Vladivostok
Tokyo
Beijing
Hyundai Financial Leasing Co., Ltd.
Grand China Shipping (Hong Kong) Company Limited
Chanzhou
Singapore
MumbaiDubai
Jebel Ali
Abu Dhabi
Atlanta
(office, incorporated)
New Jersey
Houston
Istanbul
Athens
Luanda
Nigeria
Oslo
Rotterdam
London
France Hyundai Ideal Electric Co.
Osaka
Moscow
NIKORMA
HHI China Investment Co., Ltd.
Tai’an
Saudi Arabia
Al Khobar
Fujairah
Alabama
Shandong Yantai
Kuwait
Kuwait Offset
Spain
Hungary
Offices (22)
Production &
Sales(14)
Management(5)
Construction(4)
Sales (3)
R&D(2)
Region
Overseas
office
Incorporated
firm (*1)
Total
Europe 6 7 13
America 3 4 7
Asia 4 13 17
Middle East /
Africa
9 4 13
Total 22 28 50
India
Bulgaria
Belgium Germany
Hyudai Heavy Industries shanghai R&D Co., Ltd.
VGF (in process)
Brazil
Established 22 Overseas offices and 28 Incorporated firms, a total of 50 global network.
• 22 overseas offices - Europe : 6, America : 3, Asia : 4, Middle East / Africa : 9
• 28 Incorporated firms - Production/sales : 14, Sales : 3, Construction : 4, Management : 5, R&D : 2
【Europe】
【Middle East / Africa】
【Asia】
【America】
[HHI]
*1: Local site operation basis
Yangzhong
Global Network
Jakarta
19. 19
16.7 18.1
26.1
18.4 20.5
41.9 44.3 45.1
67.8
93.5
54.2
15.3
37.8
28.1
21.3 21.0
0
20
40
60
80
100
1998 2000 2002 2004 2006 2008 2010 2012
Global
Korea
Japan
China
0
50
100
150
200
02 03 04 05 06 07 08 09 10 11 12 13
VLCC
Bulk Carrier(Capesize)
Container(4,800TEU)
Market
(Unit: mil. CGT, Source : Clarkson Research Studies)
Newbuilding Price Trend since 2002
Global Demand by vessel types in 2012, 2013
Shipbuilding
2012 : Global contracts reached 21.3 mil. CGT, decreasing by 24% YoY
2013 : Global contracts as of end of July recorded 21.0 mil. CGT
increasing by 96% YoY
Newbuilding Benchmark price Index
As of the end of July 2013, the shipbuilding price has reduced by 7.9%
from the beginning of 2012
- 4,800 TEU containerships -18.64%, Capesize bulk carriers 0%
(Source: Clarkson Research Studies / As of Aug. 16 2013)
From the beginning of 2012
-VLCC: -9.6%
-Capesize B/C: 0%
-4,800teu Containership: -18.64%
Global Demand
(Unit: mil. CGT, Source : Clarkson Research Studies)
<New orders in 2013>
Korea : 7.5 mil CGT
(M/S 35.7 %)
China : 8.8 mil CGT
(M/S 41.9 %)
Japan : 2.4 mil CGT
(M/S 11.4 %)
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June July
Others LPGC LNGC CNTR B/C T/K
2012 2013
2013.July
20. 20
Shipbuilding
39.0%
Others
61.0%
Overview
Annual Sales & New Orders
(Unit : sales - bil. KRW, New order – mil. USD)
Main Products
Sales Breakdown by Product (2012)
• VLCCs, Tankers, Product Carriers, Chemical Tankers
• Containerships, Bulk Carriers, OBO Carriers
• Ro-Pax Ships, Ro-Ro Ships, Pure Car Carriers
Tankers / VLCCs
• LNG Carriers, LPG Carriers
• Drillships
• Submarines, Destroyers, Frigates
Operational Highlights
Completion of Gunsan Shipyard (Mar. 2010)
Investment & Technical Corporation Agreement with OSX (May 2010)
10% of stake in OSX(USD 61.9 mil.) in exchange for technical advise for
establishment of a shipyard
Delivery of first drillship (Sept. 2010)
Delivery of 1,700th vessel (Jan. 2011)
Shipbuilding
<July 2013>
- Sales : 6,053
-New order : 5,887
Sales Contribution(2012)
* 2005 ~ 2009 sales are based on K-GAAP.
6,443 7,557
9,084
9,003 7,849
9,487
9,766
10,475
11,470
15,730
13,635
444
4,061
10,905
6,143
7,750
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
2006 2007 2008 2009 2010 2011 2012 2013(E)
Sales New order
Container
ship 33%
Tanker
21%
Bulker 2%
Drillship
21%
P/C 4%
Special
4%
PCTC 2%
LPG 5% LNG 7%
Others 1%
21. 21
Backlog by Shiptype (2013)
Performance
New Orders in 2013
2012 Jan. Feb. Mar. Apr. May Jun. Jul. Total Target Achievement Details (mil. USD)
# of ship 38 9 0 6 12 9 10 10 56 - -
Amount
(mil. USD)
6,143 937 0 570 1,049 1,733 681 917 5,887 7,750 76.0%
New Orders by Shiptype (2013)
Shipbuilding
-20 Containerships (2,204)
-14 LPG Carriers (999)
-8 Bulk Carriers (406)
-5 Tankers (252)
-4 Special Vessel (518)
-2 LNG Carriers (436)
-2 Others (443)
-1 Semi Submersible Rig (629)
• Backlogs as of July 2013 on a delivery basis : 132 vessels, USD 21.66 bil.
• The above data is based on the amount• The above data is based on the amount
Bulker
7%
LNG Carrier
7%
Others 17% Containership
37%
Tanker 4%LPG Carrier
17%
Semi
Submersible
Rig 11%
Container
ship
20%
Tanker
4%
LNG Carrier
18%
LPG Carrier
7%
Drillship
31%
Special &
Naval
8%
Others
4%
Semi
Submersible
RIg
6%
Bulkers 2%
24. 24
Offshore &
Engineering
18.0%
Others 82.0%
1,935
2,222
3,095 3,423
3,413
3,729
4,373
4,900
1,997
1,102
2,978
2,352
3,069
4,480
2,072
6,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2006 2007 2008 2009 2010 2011 2012 2013(E)
Sales New order
Sales Contribution (2012)
Overview
(Unit : sales - bil. KRW, New order – mil. USD)
Annual Sales & New Orders
Sales Breakdown by Product (2012)
• Floating Units: FPSOs, FLNGs, FPUs, TLPs, Semi Submersible Units
• Fixed Platforms: Topsides, Jackets & Piles, Jack-ups, Modules & Quarters
• Pipelines & Subsea Facilities: Subsea Pipelines
• Offshore Installations: Platforms, Pipelines
• Land-Based Modules
Main Products
Operational Highlights
Offshore & Engineering
<July 2013>
- Sales : 2,706
- New order : 5,452
* 2005 ~ 2009 sales are based on K-GAAP.
Fixed
Platforms&
Floaters
79%
Shipbuilding
5%
Subsea
Pilepline
16%
Received USD 1.1 bil. of Goliat FPSO order (Feb. 2010)
Received USD 0.9 bil. of Barzan offshore platform order (Jan. 2011)
Received USD 1.2 bil. of BP Q204 FPSO order (Feb. 2011)
Received USD 0.6 bil. of BP Clair Ridge platform order (Mar. 2011)
Received USD 1.1 bil. of Aasta Hansteen Topside order (Jan. 2013)
Received USD 1.9 bil. of Moho Nord TLP & FPU order (Mar. 2013)
Received USD 1.9 bil. of Rosebank FPSO order (Apr. 2013)
25. 25
Performance
New Orders by Type
($ mil.) 2008 2009 2010 2011 2012 July 2013
Fixed 1,113 2,196 1,501 2,121 1,621 194
Floating 1,704 46 1,303 1,819 412 5,178
Subsea Pipeline 145 100 252 539 31 58
Others 16 9 13 1 8 22
Total 2,978 2,351 3,069 4,480 2,072 5,452
Performance Record
Major Projects in 2009/2010
Gorgon LNG (Oct. 2009)
- LNG processing modules
fabrication
($2.1 bil. from Chevron)
Myanmar SHWE Field development project (Feb. 2010)
- Installation of gas production &
processing platform,
pipeline & onshore terminal
($1.4 bil. from
Daewoo International Corp.)
Goliat FPSO (Feb. 2010)
- Cylindrical Floating
Production Storage Offloading unit
($1.1 bil. from ENI Norge AS)
Offshore & Engineering
(1976 ~ July 2013)
Total number
of projects
Major Projects
Platforms 84
· Bongkot 4A Platform
(PTTEP, 2012)
Onshore Facilities 10
· Sakhalin-1 OPF Onshore Modules
Fabrication(ExxonMobil, 2006)
Jack-up rig 3
· Harsh Environment Jack-up PDQ
(BP, 1994)
Semi-submersible
Drilling Rig
10
· Deepwater Horizon Semi-
Submersible Drilling Unit
(R & B Falcon, 2000)
FPSO 10 · Usan FPSO (TOTAL, 2012)
TLP 2
· West Seno Field Development
(Chevron, 2003)
FPU 4 · Moho Bilondo FPU (TOTAL, 2008)
5,192 km
· Paradip SPM Pipeline
(IOCL, 2012)
Fixed
Floating
Subsea Pipelines
Type
26. 26
Performance
Major Projects Awarded in 2011
Qatar, Barzan Offshore Project
- Date : Jan. 2011
- Price : USD 860 million
- Owner : RasGas Company
- Completion : Nov. 2013
- Details : Fabrication and Installation of
Wellhead Platforms, Living Quarters,
Onshore & Offshore pipeline (EPC)
Offshore & Engineering
UK, Q204 FPSO UK, Clair Ridge Platform
- Date : Feb. 2011
- Price : USD 1.2 billion
- Owner : BP
- Completion : May 2016
- Details : Construction of FPSO (EPC),
Processing 0.32 million bpd, storing
0.8 million bbls
- Date : Mar. 2011
- Price : USD 620 million
- Owner : BP
- Completion : Nov. 2014
- Details : Fabrication and Installation of
Drilling and Quarters Platforms (EPC)
27. 27
Performance
Norway, Aasta Hansteen
Spar Topside
- Date : Jan. 2013
- Price : USD 1.1 billion
- Owner : Statoil
- Completion : Feb. 2016
- Details : Fabrication and Installation of
Spar Topsides (EPC)
Offshore & Engineering
Congo, Moho Nord TLP & FPU UK, Rosebank FPSO
- Date : Mar. 2013
- Price : USD 1.9 billion
- Owner : Total
- Completion : May 2015 (TLP)
Jun. 2016 (FPU)
- Details : Fabrication and Installation of
Tension Leg Platform and
Floating Production Unit (EPC)
- Date : Apr. 2013
- Price : USD 1.9 billion
- Owner : Chevron
- Completion : Nov. 2016
- Details : Construction of FPSO (EPC)
Processing 100,000 BOPD (Oil),
190 MMSCFD (Gas),
storing 1.05 million bbls
TLP
(Tension Leg Platform)
FPU
(Floating Production Unit)
Major Projects Awarded in 2013
28. 28
Industrial Plant & Engineering
Co-Generation Plant Process PlantThermal Power Plant Combined Cycle Power Plant
29. 29
Industrial Plant
& Engineering
5.0%
Others 95.0%
602
1017
1374
1898
2645 2761
1480 1358
846
1,544
2,076
2,826
2,010
1,014
4,077
6,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2006 2007 2008 2009 2010 2011 2012 2013(E)
Plant Sales Plant New order
Sales Contribution (2012)
Overview
(Unit : sales - bil. KRW, New order – mil. USD)
Annual Sales & New Orders
Sales Breakdown by Product (2012)
Main Products
Power Plants
Combined-Cycle, Cogeneration, and Thermal Power Plants
• Process Plants
Oil and Gas, Refinery, Tank Farm, GTL, and LNG Facilities
• Plant Equipments
Industrial Boiler, HRSG(Heat Recovery Steam Generator),
CFBC(Circulating Fluidized Bed Combustor) Boiler, Regenerator & Reactor
Operational Highlights
Industrial Plant & Engineering
<July 2013>
- Sales : 559
- New order : 176
* 2005 ~ 2009 sales are based on K-GAAP.
• Received a USD 1.0 bil. Das Island order (Jul. 2009)
• Received a USD 2.6 bil. Sabiya order (Sept. 2009)
• Signed an MOU for supplying ITER vacuum vessel (Jan. 2010)
• Received a USD 1.6 bil. Riyadh order (Jun. 2010)
• Received a USD 3.2 bil. Jeddah South order (Oct. 2012)
• Received a USD 3.3 bil. Shuqaiq order (Aug. 2013)
Power
Plant
44%
Oil & Gas
32%
Others
24%
30. 30
Performance
Performance Record New Orders by Type
(mil. USD) 2008 2009 2010 2011 2012 July 2013
Power Plants 1,727 1,412 1,601 9 3,510 49
Chemical Plants 117 1,177 145 493 253 2
Plant equipment 232 237 264 512 314 125
Total 2,076 2,826 2,010 1,014 4,077 176
Industrial Plant & Engineering
Major Projects in 2012/2013
(1976 ~ July 2013)
Project Type Major Projects
Oil &
Gas
Oil & Gas
· Integrated Gas Development (IGD) Project
(ADGAS, UAE, 2013(E))
· Escravos Gas Plant Phase Ⅲ (Chevron Nigeria Ltd., Nigeria, 2010)
· Bonny Terminal Integrated Project
(Shell Petroleum Development, Nigeria, 2008)
Tank Farm
· KOC Crude Oil Export Facilities Project
(Kuwait Oil Company, 2008)
· JPR Zarpa Tank Farm Project (Jordan Petroleum Company, 2000)
Refinery &
Petrochemical
· Jazan Refinery and Terminal Project, Package. 2
(Saudi Aramco, 2016(E))
· HCP No.2 BTX Project Daesan (HC Petrochem, Korea, 2013(E))
· Mumbai Diesel Hydro-Desulfurization Project
(Hindustan Petroleum Company, India, 2000)
· HPC 2nd Petrochemical Complex Project (Hyundai Oilbank, 1997)
Gas To Liquid · Pearl GTL Feed Gas Preparation Project (Qatar Shell, 2011)
Power
Combined Cycle/
Simple Cycle
Power Plant
· Riyadh PP 11 Independent Power Project
(Dhuruma Electricity Company, Saudi Arabia, 2013(E))
· Sabiya Combined Cycle Gas Turbine Project
(Ministry of Electricity and Water, Kuwait, 2013(E))
· Al Dur Independent Water and Power Project
(Al Dur Power & Water Co., Bahrain, 2012)
· Marafiq Independent Water and Power Project
(Jubail Water and Power Company, Saudi Arabia, 2010)
· Shaybah Power Generation Project
(Saudi Aramco, Saudi Arabia, 2008)
Cogeneration
· Tihama Cogeneration Expansion Project Stage II
(Tihama Power Company, Saudi Arabia, 2015(E))
· Saudi Aramco 3rd party Cogeneration Program
(Tihama Power Company, Saudi Arabia, 2006)
Thermal
· Jeddah South Thermal Power Plant
(Saudi Electricity Company, Saudi Arabia, 2017(E))
· Namjeju #3&4 Thermal Power Plant (KEPCO, Korea, 2007)
· Makkah-Taif Thermal Power Plant
(Saline Water Conversion Corporation, Saudi Arabia, 1989)
Desalination Plant
· Taweelah A1 (ADWEA, UAE, 2002)
· Taweelah B (ADWEA, UAE, 1995)
· Umm Al Nar West (ADWEA, UAE, 1982)
· Al Khobar Phase 2 (SWCC, Saudi Arabia,1981)
Jeddah South (Oct. 2012)
- 3.2 bil. USD / Saudi Electricity Company,
Saudi Arabia
- 2,400MW Oil fired Conventional
Power Plant
Shuqaiq Steam Power Plant (Aug. 2013)
- 3.3 bil. USD / Saudi Electricity Company,
Saudi Arabia
- 2,640MW Oil fired Conventional
Power Plant
32. 32
Overview
(Unit : sales - bil. KRW, New order – mil. USD)
Annual Sales & New Orders
Engine & Machinery
Sales Breakdown by Product (2012)
Main Products & Capacity
Operational Highlights
• Two-Stroke Diesel Engines (500 units, 18 mil. BHP)
• Four-Stroke(HiMSEN) Engines (1,800 units, 5 mil. BHP)
• Diesel and Gas Power Plant Engines
• Propellers and Crankshafts
• Steam Turbines and Turbochargers
• Industrial and Marine Pumps, Industrial Robots, Side Thrusters
• Presses, Conveyor Systems, and Steel Strip Process Lines
<July 2013>
-Sales : 1,198
-New order : 1,632
Sales Contribution (2012)
* 2005 ~ 2009 sales are based on K-GAAP.
Surpassed cumulative four-stroke engine production of 20 mil. bhp (Mar. 2010)
Production of eco-friendly marine engine meeting new IMO standards (Mar. 2010)
• Received a 95MW PPS order from Venezuela (Apr. 2010)
• Received a 75MW diesel power plant order from Bangladesh (Apr. 2010)
• Development of high output eco-friendly gas engine (May 2010)
- 20% reduction of CO2 emission and 97% reduction of NOX emission
Surpassed cumulative two-stroke engine production of 100 mil. bhp (Sept. 2010)
Production of 1,000th Packaged Power Station (Jul. 2012)
Engine &
Machinery
11.0%
Others 89.0%
Marine
Engine
78%
Power
Plant
Engine 8%
Hydraulic
Machinery
4%
Robotics
10%
1,220
1,646
2,522
2,772 2,835
3,096 2,967
2,821
1,880
3,248
4,646
1,452
2,283
3,176
1,858
3,100
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2006 2007 2008 2009 2010 2011 2012 2013(E)
Sales New order
33. 33
Performance
Eco-Friendly Diesel Engine
-15 % reduction of NOx emission meeting new IMO standards
High output Eco-Friendly HiMSEN Gas Engine
- 20% reduction of CO2 emission compared to diesel engine
- 97% reduction of NOX emission to reach the world’s lowest
level
of 50ppm
- 47% improvement in engine performance
Ship Engine New Orders by Region
Engine & Machinery
Market Share in 2012 (%)
Large-size
Marine
Engine
Medium-size
Marine
Engine
Propeller
Diesel
power
plant
Domestic 52 50 90 95
Global 35 23 23 7
Diesel Power Plants order from Bangladesh (Apr. 2010)
- USD 70 mil. order for 70 MW diesel power plants from
Bangladesh Power Development Board (BPDB)
Eco-friendly Engine products
Major Projects in 2010, 2011
PPS order from Venezuela (Apr. 2010)
- USD 160 mil. order for 204 MW, 120 Packaged Power
Stations
from electricity company Electricidad de Caracas,
Venezuela
Diesel Power Plants order from Ecuador (May 2011)
- USD 74 mil. order for 140 MW diesel power plants from
Equitatis, Equador
57%
45%
67%
92%
83% 87%
39%
44%
33%
8%
9% 9%
3% 11% 8% 4%
2007 2008 2009 2010 2011 2012
Domestic China Others
35. 35
1,057
1,453
1,925
2,712
3,242
2,319
2,843
3,134
1,274
1,766
2,281
2,556
3,793
2,625
2,318
3,160
0
1,000
2,000
3,000
4,000
2006 2007 2008 2009 2010 2011 2012 2013(E)
Sales New Orders
Overview
(Unit : sales - bil. KRW, New order – mil. USD)
Sales Contribution (2012)
Annual Sales & New Orders
Operational Highlights
Main Products
Electro Electric Systems
Sales Breakdown by Product (2012)
• Transformers (up to 765kV, 1,300MVA), Gas Insulated switchgear(25.8kV~800kV),
Low voltage Switchgear
• Low and Medium Voltage Circuit Breakers
• Rotating Machinery
• Power Electronics and Control Systems
<July 2013>
- Sales : 1,541
- New order : 1,113
* 2005 ~ 2009 sales are based on K-GAAP.
Electro Electric
Systems 12.0%
Others 88.0%
Awarded Asia-Pacific Power Transmission Equipment Company of the Year
by Frost & Sullivan (Aug. 2009)
Received USD 0.25 bil. transformer order from South Africa (Nov. 2009)
Received USD 0.6 bil. transformer order from the US (May 2010)
Reached the transformer production milestone of 700,000MVA (Dec. 2010)
Received 1,000 GIS order from Russia (Jun. 2011)
Transformer
34%
High Voltage
Circuit
Breaker
15%
Low Voltage
Circuit
Breaker
6%
Switchgear
16%
Rotating
Machinery
25%
Others 4%
36. 36
Performance
Sales by Region
Electro Electric Systems
• US transformer long-term supply contract (May 2010)
Major performance
- USD 600 mil. Order for supplying transformers ranging from
230kV to 500kV to Southern California Edison(SCE) for 10 years
from 2010 to 2019
- Largest transformer order to date
* The sales of Green Energy division is not included in 2011 & 2012 results
* 2007 ~ 2009 sales are based on K-GAAP.
14% 14% 14% 11% 12%
4% 3% 4% 6% 9%
6% 4% 2% 1% 3%
7%
11%
20%
5%
7%
16%
29%
18%
18%
21%
3%
3% 4%
8%
2%
49%
35% 38%
51% 46%
2008 2009 2010 2011 2012
Domestic Others Middle East Europe
Africa Asia North America
Major Projects
Project Type Major Projects
Generator Installation
· West Generating Project
(U.S.A)
Power Transmission &
Mutation Installation
· British Columbia Hydro & Power Authority
(Canada)
Iron Manufacture
Installation
· NUEVA VENTANAS 240MW Coal Fired Power Project
(Chile)
Water Treatment &
Cement & Petrochemical
Installation
· KODECO IKC Project
(Indonesia)
Automotive Goods · Seoul Metro
(South Korea)
Marine Goods
· Royal Nedlloyd Group
(Netherlands)
Ocean Installation
· Al-Jubail Saline Water Conversion
(Saudi Arabia)
Marine Steam Turbine
· Hyundai Merchant Marine LNG Carrier –
22,000MW Marine Steam Turbine (South Korea)
Know-how Export
· Gas Insulated Switchgear : TATUNG Company
(Taiwan)
Fresh Water
Installation
· Shuweihat S2 IWPP Project
(U.A.E.)
38. 38
Construction
Equipment
13.0%
Others
87.0%
1,198
1,512
1,769
1,190
2,275
3,052 3,120
3,600
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2006 2007 2008 2009 2010 2011 2012 2013(E)
Overview
(Unit : sales - bil. KRW)
Annual Sales
Operational Highlights
Main Products
Construction Equipment
Sales Breakdown by Product (2012)
<July 2013>
- Sales : 1,839
• Excavators (Local 16,000 units, China 18,874 units, India 1,800 units)
• Wheel Loaders (2,900 units)
• Forklifts (9,500 units)
• Skid Loaders (600 units)
Sales Contribution (2012)
* 2005 ~ 2009 sales are based on K-GAAP.
Introduction of Hi-Mate remote management system (May 2009)
9-series excavators recognized at Korea’s Pin-up Design Awards (Dec. 2009)
Introduction of new 9-series wheel loader (May 2010)
Breaking ground for wheel loader factory in China (Jul. 2010)
Introduction of 120-ton excavator (Apr. 2011)
Production of 350,000th construction equipment (Oct. 2011)
Excavator
59%
Folk Lift
15%
Wheel
Loader
11%
CKD
7%
Others
8%
39. 39
Construction Equipment Sales by Region
Performance Construction Equipment
Excavators Sales in China
※ Others includes Middle East (14%), Russia (9%), South America (7%),
Southeast Asia (6%), Africa (6%), Turkey, Australia and etc.
July 2012 July 2013 YoY
Market 77,329 70,382 -9.0%
H H I 6,561 5,405 -17.6%
M/S 8.5% 7.7% -0.8%p
Excavator Sales in China
HHI’s Excavator Market Share by Region
※ 2007 ~ 2009 sales are based on K-GAAP.
(Source : Company data)
(Source : China construction machinery association)
41,500
60,856 71,767
93,237
162,908 162,908
104,908
70,382
9,138 9,495 8,377
10,101
18,467
17,294
8,540
5,405
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
0
30,000
60,000
90,000
120,000
150,000
180,000
2006 2007 2008 2009 2010 2011 2012 2013.July
Market size(Left)
HHI(Right)
6% 6% 2% 3% 3% 3%3% 4% 6% 10%
21% 17%
3%
6% 7%
8%
20%
17%
28% 22% 17%
16%
14%
11%
25% 27%
19%
4%
5%
39%
49%
39% 38%
48%
54%
2007 2008 2009 2010 2011 2012
Others
Brazil
China
Domestic
Europe
North America
India
2010 2011 2012
Domestic 33.2% 32.4% 27.5%
Global 8.6% 8.0% 8.7%
China 11.3% 10.2% 8.1%
India 11.3% 13.9% 17.3%
41. 41
Solar Cell Solar Module
Thin-film
Solar module
Solar System
(Inverter)
Picture
Facilities
Solar Cell Plant
(Eumseong, Korea)
Solar Module Plant
(Eumseong, Korea)
Hyundai Avancis
(Ochang, Korea)
Electro Electric Systems
Division (Ulsan, Korea)
Annual Capacity
(2012)
600MW 600MW 100MW 500MW
Details
- Mono-crystalline, Poly-
crystalline solar cells
produced
- 54 cell(6X9), 60 cell(6X10),
72 cell(6X12) modules
produced
- JVC with Saint-Gobain
(50:50)
- CIGS (Cu, In, Ga, Se) thin-
film solar module produced
- Grid-Tied Solar Inverter
with/without transformer
Solar Power
Vertically Integrated Solar company with 600MW capacity of polysilicon-based solar modules
Thin-film solar cell production facility with 100 MW capacity in 2013
Capacity and Sales
2005 2007 2008 2009 2010 2011 2012
Capacity Cell (MW) 30 30 60 370 370 580 600
Modules
(MW)
20 30 70 170 510 560 600
Sales (KRW bil.)
% of total HHI Sales
50
0.4%
107
0.6%
150
1.3%
591
2.6%
399
1.6%
344
1.4%
Solar Product Certification
- UL Listed
- IEC 61215 edition 2, IEC 61730 (TUV)
- J-PEC
- JET Cert
- CE Declaration
- MCS (UK)
- CSTB (France)
- Ammonia resistance test* The above capacity expansion and sales plan is subject to change according to the market situation.
42. 42
Wind Power
- HHI’s production : Nacelle part (Geared & Gearless)
- Outsourcing : Rotor Part (Blade, Hub), Tower
Generator
(HHI)
Gear box
(Jake)
Power converter
(HHI)
Transformer
(HHI)
(Installed in Tower)
Wind Turbine Production facilities
HHI’s Products & Certification
(Geared Type)
Model
Rated
Power
(MW)
Gear
Type
Installation
Type
On Market
HQ1650 1.65 Geared Onshore Jun. 2009
HQ2000 2.0 Geared Onshore Jun. 2010
HQ5500 5.5 Geared Offshore -
Nacelle Part
Wind Turbine System Structure
Company Name Details
Wind Turbine plant
(HHI)
- Located in Gunsan, Korea
- Annual Capacity: 600MW
- Capex: KRW 110 bil.
Weihai Hyundai
Wind Power
Technology
- Located in Weihai, China
- Annual Capacity: 600MW (2MW X 300 units)
- JVC with Datang Shandong Power Generation
(80% by HHI)
Jahnel-Kestermann
(Jake)
- Located in Bochum, Germany
- Annual Capacity: approx. 500 units of gearbox
* On Market: based on proto-type installation date
44. 44
Hyundai Oilbank
Refining
Unit
Upgrading Unit
Crude oil
100%
(390,000
b/d)
LPG, Naphtha,
Gasoline
19%
Kerosene, Diesel
37%
Bunker C
44%
Gasoline,
LPG 46%
Diesel
37%
Propylene
9%
Others
8%
Total CAPEX : KRW2.6 tril.
(JUl. 2006~ Feb. 2011)
• Completion of # 2 HOU Plant 34.4%
With the completion of # 2 HOU plant in Jan., 2011,
Hyundai Oilbank achieved a ratio of 34.4%,
the highest upgrading ratio in the industry
At a Glance
• Domestic Light Oil Market Share
22.1%
Number of Service Stations : 2,359
* As of November 2012
• Production Capacity 390,000B/D
#1 : 110,000 B/D, #2 : 280,000 B/D
Facilities & Products
• HHI’s Management Control 91.1%
Acquired by HHI in Aug., 2010
45. 45
2010 2011 2012 2013. 1H
Sales 13,295.4 18,958.6 21,523.9 9,716.9
Operating Income 235.4 594.7 308.4 255.6
% 1.8 3.1 1.4 2.6
Net Income 409.2 360.7 156.5 66.3
% 3.1 1.9 0.7 0.7
(Unit: KRW billion)
Income Statement
2010 2011 2012 2013. 1H
Total Assets 7,323.2 8,642.6 8,506.5 8,989.8
Total Liabilities 4,887.3 5,899.5 5,618.8 6,035.0
Total
Shareholder’s Equity
2,435.8 2,743.2 2,887.6 2,954.8
Liabilities-to-
Equity Ratio(%)
200.6 215.1 194.6 204.2
(Unit: KRW billion)
Financial Position
Hyundai Oilbank
* The financial information of 2009 is based on K-GAAP.
20122010 2011
7,323.2 8,642.6 8,506.5
200.6%
215.1%
194.6%
Assets
Liabilities-
to-Equity
Ratio
235.4
594.7
308.4
13,295.4
18,958.6
21,523.9
Operating
Income
Sales
20122010 2011
46. 46
Containership
16%
Bulker
6%
P/C
8%
LNG Carrier
29%
LPG Carrier
6%
Semi
Submersible
Rig
11%
FPU Hull
4%
PCTC
13%
Tanker 7%
New Orders in 2013
2012 Jan. Feb. Mar. Apr. May Jun. Jul. Total Target Achievement Details (mil. USD)
# of ship 16 0 0 10 10 6 0 13 39 36 108.3%
Amount
(mil. USD)
2,508 0 0 716 689 396 0 1,031 2,832 4,500 62.9%
At a Glance
Hyundai Samho
• Production Capacity 4.3 mil. GT
- Delivered 42 vessels in 2012
- # of dry docks : 2
• 2013 Order Target
• 2013 Sales Target
Backlog by Shiptype (2013)
4,500 mil. USD
3,717 bil. KRW
• Backlogs as of July 2013 on a delivery basis : 65 vessels, USD 6.89 bil.
• The above data is based on the amount
-11 P/Cs (547)
-10 PCTCs (687)
-6 LPG Carriers (450)
-4 Bulk Carriers (254)
-4 Containerships (322)
-2 Tankers (114)
-1 FPU Hull (270)
-1 High Lift Vessel (188)
47. 47
2010 2011 2012 2013. 1H
Sales 4,316.6 4,828.7 4,231.8 1,798.9
Operating Income 830.3 804.3 254.0 16.9
% 19.2 16.7 6.0 0.9
Net Income 631.6 551.0 -13.4 20.5
% 14.6 11.4 -0.3 1.1
(Unit: KRW billion)
Income Statement
2010 2011 2012 2013. 1H
Total Assets 7,262.8 6,954.7 6,978.9 6,696.2
Total Liabilities 4,325.8 3,741.7 3,641.1 3,390.1
Total
Shareholder’s Equity
2,937.0 3,213.0 3,337.7 3,306.1
Liabilities-to-
Equity Ratio(%)
147.3 116.5 109.1 102.5
(Unit: KRW billion)
Financial Position
2010 2011 2012
20122010 2011
Hyundai Samho
* The financial information of 2009 is based on K-GAAP.
830.3
804.3
254.0
4,316.6
4,828.7
4,231.8
Operating
Income
Sales
7,262.8 6,954.7 6,978.9
147.3%
116.5% 109.1%
Assets
Liabilities-
to-Equity
Ratio
51. 51
Statements of Comprehensive Income (K-IFRS consolidated)
2Q 2013 sales recorded KRW 13,091 bil., operating income 289.0 bil.
- QoQ : Despite sales increase in other major segments, overall sales decreased due to a regular maintenance of #2 CDU in
Refinery segment.
Operating income decreased due to sales decline and worsening of cracking margin in Refinery segment.
- YoY : Sales decreased due to fall in oil prices and a regular maintenance of #2 CDU in Refinery segment.
Operating income decreased due to profit decline in Shipbuilding / Engine & Machinery segment.
(unit : bil. KRW)
1Q 2013 2Q 2012
QoQ YoY
13,091.0 -0.4% -4.4% 13,142.9 13,700.4
Cost of sales 12,029.9 -0.8% -5.6% 12,132.5 12,736.8
1,061.1 5.0% 10.1% 1,010.4 963.6
289.0 -23.5% -20.2% 377.7 362.2
2.2% -0.7%p -0.4%p 2.9% 2.6%
364.0 - - 388.8 153.5
(558.7) - - (406.0) (255.8)
Equity method income (0.4) - - (14.0) (48.2)
93.9 -72.9% -55.6% 346.5 211.7
69.3 -78.3% -49.2% 319.7 136.4
0.5% -1.9% -0.5%p 2.4% 1.0%
100.6 -68.4% -25.0% 318.4 134.2
Profit attributable to owners of the
company
Net income margin
2Q 2013
Net income
Operating income
Other non-operating income
Sales
Gross profit
Net income before income taxes
Operating income margin
Finance income
52. 52
Statements of Financial Position (K-IFRS consolidated)
(unit: bil. KRW)
As of Jun.30 2013 As of Dec.31 2012
Total Assets 52,724.0 49,273.1 3,450.9 7.0%
28,585.4 25,278.6 3,306.8 13.1%
1,908.7 1,107.7 801.0 72.3%
24,138.6 23,994.5 144.1 0.6%
33,610.5 30,531.8 3,078.7 10.1%
25,179.4 22,174.0 3,005.4 13.6%
8,431.1 8,357.8 73.3 0.9%
19,113.5 18,741.3 372.2 2.0%
175.8% 162.9% 12.9%p -
76.6% 79.1% -2.5%p -
Total borrowings 14,643.8 14,826.5 (182.7) -1.2%
Libilities-to-Equity Ratio
Change
Debt-to-Equity Ratio
Current Assets
Non-current Assets
Total Liabilities
Current Liabilities
Non-current Liabilities
Shareholders' Equity
*Cash & Cash Equivalents
※ Debt status of major consolidated subsidiaries
As of Jun. 30 2013 : HHI 6,480 Hyundai Oilbank 3,095 HSHI 1,617 HI Investment & Securities 1,982
As of Dec. 31 2012 : HHI 6,542 Hyundai Oilbank 3,005 HSHI 1,916 HI Investment & Securities 1,829
52
54. 54
Thank You
Http://www.hhiir.com
*For More Information
IR Team
E-mail: hhiir@hhi.co.kr
Tel: +82-2-746-4728, 4546, 7858
Fax: +82-746-4662
Website: www.hhi.co.kr (Company) /www.hhiir.com (IR)