[ ֳ] Ȩ Ϲ ȸ Ӱ ø, м̳ ֽİġ, м, ڿ Ұص帮 ڳԴϴ. ӿ õ ǰ̳ м, Ÿ ̵ ġ ؿʹ ˷帳ϴ. < >
- ΰ?
ֱ Ͱ ְ ް ¿ ұϰ, ſ ǥ ̰ ִ. ް Ͻ̶, ְ ɼ . ̷ ִٸ ְ δٰ ̴. ̿ Ӱ ο ΰ м غ Ѵ.
1. ϰ , ֱ ΰ?
ڵ ǰ ü̴. ֿ ǰ .
ϼ ǰ ϰ Ÿ̾ Ҹǰ ƴϴ. ڵ 귮 ſ ־ ڵ ´. , , 75% ̻ ϴ ֿ ó̸ 25% , 50% ̸ ŭ, ϰ Ѵ.
ֱ ̴.
4 迭縦 Ŵ Ǿ ִ. 迭 ڵ ǰ õ ̵ ϳ ó ص ϴ. 09.3 ~ 10.3 迭 йͿ ܼ ϸ, ̴ Ⱓ ̴.
2. ?
ڵ ֱ⸦ ⺯ ̴. ſ Ȳ ־ٸ ̸ ؼ غ ū ǹ̰ ִ. ݰ ū ־.
2005 2007, 50 þ. 2005 ū (92.1%) ֿ̾, 2007 (7.5%) (83% -> 77.9%) ܼ ֿ Ǿ. ū ȭ հ Ȳ 2005⺸ٴ 2007 ϸ 迭ȸ й ſ ũٰ ִ.
< 10 Ͱ꼭>
2005 ؿ ȭǾ й ũ ø鼭 ϰ ִ.
ڵ 귮 ʴ ũ پ ʴ´. ϳ ü ִµ, IFRS(ȸ) 繫ǥ ۼ ⺻ ϰ Ǹ鼭 ̴.
< 繫ǥ >
繫ǥ ϸ ټ ħ , ϴ. 繫ǥ 2009 157 3° ȣȲ ڷӿ ұϰ, ְ PER 5.55 Ұϴ. (PBR 0.46, ROE 8.9%) ̹ 2б ǸŴ 11.3% 2б 2010 ȸ迬 迭 ü 2008 Ѿ ̸, 繫ǥ ְ ŷ ̴.
3. ִ°?
̷ , ߱ ̱ ǥ ȭ , Ϲݱ ϰ ϴ Ҹ . ̿ ڵ ħü ϱ?
ڻ
+ ܱڱ : 625
: 133
(ٸ 迭 :
394) -
: 59(ΰ)
: 817 |
ä
ܱԱ 118
ä 29
Ա 61
11
̿μ 70
: 289 |
ڻ갡ġ
817 - 289 = 528 |
10.7.2 ðѾ 816 ڻġ Ұ 288 ̴.
迭 ٸ, ڻ갡ġ ðѾ Ѿ ִٰ ִ.
4. Valueation
5 PER
PER 3.25, PER 2.17
ǥ PER : 3.25 * 2 - 2.17 = 4.33
PER : 3.25
ǥ : 37,594 * 4.33 = 162,782 ( : 49.9%)
: 37,594 * 3.25 = 122,180 ( : 33.3%)
ְ : 81,600
5.
3° ū ȣȲ ְ, ְ ö δٰ ִ. 2б ǰ ְ, 췮 ȸ IFRS ȸ δ. ðѾ 65% ϴ ڻ ϰ ־ ħü ȮǾٰ ִ |
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