Embed Size (px)
Citation preview
2
Analysis of TV IndustryAnalysis of TV Industry
FPD TV Market AnalysisFPD TV Market Analysis
DIBOSS DIBOSS –– The LCD TV SpecialistThe LCD TV Specialist
DIBOSS DIBOSS –– Holder of WorldHolder of World’’s Leading Technologys Leading Technology
Management Strategy & VisionManagement Strategy & Vision
FinancialsFinancials
AppendixAppendix
3
Evolution of TV : DigitalizationEvolution of TV : Digitalization
Expansion of Digital TV DemandExpansion of Digital TV Demand
LCD TV LCD TV –– Leading the Expansion of Digital TVLeading the Expansion of Digital TV
Analysis of TV IndustryAnalysis of TV Industry
4
“Digital TV”Essential Media of the Digital Convergence
PLC / Cable xDSL
wirelessCommunicator
HHP
PDA
DVD Home Theater
Car AV Navigation
Tablet PC
WiFi Note PC
Home Media Center
Wireless LAN / IEE802.11x
USB
.02 / IEEE B
luetooth
PVR
Telematics
Projection
CRT
LCD
PDP
CRTCRT
AnalogAnalog
DigitalDigital
FPDFPD
Evolution of TV : DigitalizationEvolution of TV : Digitalization
Expansion in FunctionExpansion in Function
Expansion in Size /Expansion in Size /Reduction in Volume / WeightReduction in Volume / Weight
Development of Digital TechnologiesHigh Definition, Multi-function of TVs
Digital TV
Digital Convergence
&Ubiquitous Computing
GSM
W
-CD
MA
5Expansion of Digital TV DemandExpansion of Digital TV Demand
Full-scale Digital TV Broadcasting in Korea
U.K.U.K.
U.S.A.U.S.A.
JapanJapan
KoreaKorea
Nov 1998 Dec 2006May 2002
(All Commercial Broadcasting)May 2003
(All Public Broadcasting)
Sep 2002 Nov 1998 (Ondigital)Oct 2002 (Freeview) 2010
Nov 2002 Nov 2002(Parts of Capital Area) 2010
Jan 2000 2003 (3 Major Cities)2006 (Nationwide) 2011
Sep 2000 Oct 2001 (Capital Area)2005 (Nationwide) 2010
TestBroadcasting
RegularBroadcasting
Termination ofAnalog Broadcasting
GermanyGermany
Digital TV Broadcasting Schedule in the world
0
3
6
9
12
15
18
2005 2006 2007 2008 2009 2010 2011 20120%
25%
50%
75%
100%
Number of Digital TVHouseholdsDigital TV BroadcastingPenetration Rate
(Million Households)
(Source: Electronics and Telecommunications Research Institute, March 2005)(Source: Display Bank, 2004 Korea Display Conference)
Digital TV Broadcasting PenetrationDigital TV Broadcasting Penetration2005 : 21% 2005 : 21% →→ 2012 : 97%2012 : 97%
6LCD TV LCD TV –– Leading the Expansion of Digital TVLeading the Expansion of Digital TV
Electronic Album, Built-in Games
Broadcast Reception
PC, Internet
DVD Player, MP3, Radio, Record TV
All-in-one
Expansion due to convergence of broadcasting & communications
- Functional Convergence : Broadcast Reception + Internet + Digital Content of Communications
- Product Convergence : TV + PC + All-in-one Digital Appliances
(Source: Display Bank, 2004 Korea Display Conference)
3.7% Growth in Total TV Market - LCD TV 58.9% growth- PDP TV 49.9% growth- Projection TV 10.7% growth- CRT TV -2.3% growth
(Million Units)
0
50
100
150
200
2003 2004 2005 2006 2007 2008
LCD TV
PDP TV
Projection TV
CRT TV
CAGR 58.9%
• Reduction of CRT TVs Surge in FPD (Flat Panel Display) TVs
• Among FPD TVs, demand expansion in the order of LCD > PDP > Projection TV expected
Expansion of Digital TV through Convergence Expected High Growth for LCD TV
7
LCD TV LCD TV –– Superior FunctionsSuperior Functions
FPD TV Market Analysis FPD TV Market Analysis
LCD TV LCD TV –– Narrowing the Gaps in Size & PriceNarrowing the Gaps in Size & Price
LCD TV LCD TV –– Expected GrowthExpected Growth
Market Leader with TechnologyMarket Leader with Technology
LCD TV LCD TV –– High Entry BarriersHigh Entry Barriers
DIBOSS DIBOSS –– The Leader of LCD TVThe Leader of LCD TV
8
Energy Consumption(High Electricity Consumption)
BigSize
(over 50 “)
Plasma formed through electric
discharge
Image created through self light emission by
unit LED
Remaining Images
(Response Time)Resolution
Image created by adjusting light from light source through control of unit liquid
crystals
Resolution, Size & VolumePrice
Screen projection by increasing image
source through optical reflection
KeyWeaknesses
KeyStrengthsPrinciples of DisplaysStructure
LCD TV LCD TV –– Superior FunctionsSuperior Functions
(Source : KDC 2004 Korea DISPLAY Conference, 2004.6)
Good
Normal
None
Very Good
5~60,000 Hr
180W
72%
170
700:1
1366 X 768
500Cd/m
LCD TV(40” HD Basis)
LCD330WPower
Consumption (SET)
PDP90%Color
Reproduction Ratio
Equal170Viewing Angle
PDP3,000:1(130:1)Contrast(Bright Room)
LCD1024 X 768Resolution
PDP1,000Cd/mBrightness(F/W)
SuperiorityPDP TV(42” HD Basis)
Performance(40”)
Response Time
GradationCharacteristics
Remaining Image
Space Economy
Product Life
EqualGood
PDPGood
LCDUnfavorable
LCDGood
LCD30,000 Hr
Projection TV
PDP (Plasma Display Panel) TV
LCD (Liquid Crystal Display) TV
LCD TV vs. PDP TV (40”)Structure & Characteristics of FPD TV
9
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
2001 2002 2003 2004 2005 2006 2007 2008
42"HD PDP
42"HD LCD
LCD TV LCD TV –– Narrowing the Gaps in Size & PriceNarrowing the Gaps in Size & Price
Expansion of LCD panel supply due to development of manufacturing technologies (size enlargement) and aggressive investments among competitors
Continuing price fall in LCD panels which take up the biggest portion of LCD TV costs
LCD TV overcoming the limitations in size subsequent to 2000 closely trailing PDP
LCD TV size already reached 50”~60”, generally recognized as the limit of size for household demand
(USD)
Expansion of Investments in LCD Panel The Fall in LCD TV Costs
Overcoming The Limitations in Size Subsequent to 2000
(Size)
~1998 1999 2001 2002 2003 2004
10”
20”
30”
40”
50”
2000
60”
70”
80”
100”
2005
LCD PDP
(Source: Display Search, Meritz Securities Report, Dec 2004)
10
<Quantity>
2005 TFT-LCD New Production Line Schedule
30.9% 27.8% 6.9% 10.8% 23.6%
Digital TV Preference by Device
LCD TV PDP TV Projection CRT Don’t Know
(Source : Ministry of Commerce, Industry and Energy, 2004)
LCD TV LCD TV –– Expected GrowthExpected Growth
LCD TV No. 1, in Consumer PreferenceBased on Performance
Expansion of Supply Capacities of Panel Manufacturers based on Increase LCD TV Demand
0
20
40
60
2003 2004 2005 2006 2007 2008
LCD TV
PDP TV
(Million Units)
CAGR 58.9%
CAGR 49.9%
LCD TV – Surpassing PDP in Q’ty & Amount
<Amount>
0
20
40
60
2003 2004 2005 2006 2007 2008
LCD TV
PDP TV
(Billion Dollars)
CAGR 53.7%
CAGR 15.7%
(Source: Display bank, 2004 Korea Display Conference)
4Q04 2Q051Q05 3Q05 4Q05
2045
3030
3020
6030
9045
60
Capa
56
66
5.55.5
56
67
7
GEN
1100*13001500*1850
1500*18501500*1850
1300*15001300*1500
1100*13001500*1850
1500*18501950*2250
1870*2200
Size
1QDI
12CPT
23CMO
33AUO
31LGPL
2SEC
Phase
BOE-OT 2
(unit: K/month)
11
Crucial Change in the TV Industry
Market Leader with TechnologyMarket Leader with Technology
Core Competitiveness
Underlying Technologies
DisplayDigital
AnalogAnalogTechnology +
SpeedTechnology +
CapitalStandard +
Patent
FPD
CRTCRT
2000s ~
1970s~1990s1940s~1960s
???
SonyRCALeading Company
58 59
2435
186
0%
25%
50%
75%
100%
2003 2004
Others
Big 4~8
Big 3
• Changes in the LCD TV market in 2003~2004
- success of the Big 3 companies;- progress of competitive middle-ranked firms;- demise of bottom-ranked firms behind in technology and speed
Intense competition is expected due to the new entry of additional companies
Is the Competition for Direct Penetrating LCD TV Market Over?
Emergence of Sharp as No.1 LCD Company /Entry of DIBOSS into the Middle Ranks as a Specialist in LCD
• Sharp has secured the No. 1 position in the LCD TV market as a result of fully focusing on LCD business subsequent to 1998
• DIBOSS has maintained the No. 8 position for the 2 consecutive year, having secured specialized technological know-how in LCD TV since 2000. (2% M/S in 2003 → 3% M/S in 2004)
• DIBOSS is expected to benefit from the indirect entry in the high growth LCD TV market, as it is the sole company with ODM capacity among 8 major LCD companies in the world
• Recent competition in LCD TV is similar to the fierce competition for leadership in the TV market subsequent to opening of RCA’s patent in 1958
• Sony backed by Trinitron technology developed in 1968 has dominated the world TV market since the 1970s
• As of 2005, competition of numerous companies for the leadership in the next generation LCD TV has resumed with the collapse of Sony’s position as the leader due to the progress of innovation in digital & FPDtechnologies
Sharp31%
Samsung17%Sony
11%
Others6%
Panasonic10%
LG 11%
Phillips 7%
DIBOSS 3%
Toshiba 4%
LCD TV Global M/S
(2004)
12LCD TV LCD TV –– High Entry BarriersHigh Entry Barriers
OpportunityNew large-scale marketDTV industry supported by governments over the worldHigh assembly & distribution margins
StrengthCompetitive edge in labor and indirect costs
ThreatIntensified competition for securing high growth market
Weakness
Lack of Technological KnowLack of Technological Know--howhow
Difficulties in Establishing Sales NetworkDifficulties in Establishing Sales Network
Time & CostsTime & CostsRequired for Product DevelopmentRequired for Product Development
A brandA brand’’s Advantages Advantage
““ High Entry BarriersHigh Entry Barriers””
SWOT of Small & Medium LCD TV Followers
- Dominated by global home appliance firms- ODM, OEM dominated by SMEs with technological know-how
- Development period required for product line-up by screen size and model
- Large-scale initial investments for layout, design & molding
- Complexities of TV reception method by countries- Diversity of world broadcasting environments- Differences in characteristics of regional needs
- Existing brands preferred by countries- Diverse distribution channels of existing companies
13
PriceCompetitiveness
(Raw MaterialPurchasing Ability)
ProductDevelopment Ability
MarketingCapacities
(Sales Network)
DifferentiatedProduct Power
Speed ofTime to Market
Compared toLarge Firms
Compared toSMEs
DIBOSS DIBOSS –– Established Leader of LCD TVEstablished Leader of LCD TV
No. 8 in the World Market
Leading Position in the European Market
Leader of Digital Convergence Technology
• No. 3 among domestic firms following Samsung and LG
• 13% share of total European market• 30% share of Swiss market (No.1)
• Possession of technological abilities keeping up with large corporations
• Introduction of the world’s first Koran TV and game TV
• Introduction of ‘iMTV’, the world’s first internet, multimedia TV
DIBOSS – No. 8 in the World Market Competitiveness of DIBOSS
Focus on development of specialized LCD TV technologies since establishment in 2000Ability to design 27 types of reception methods- Only SME to possess image quality engine ‘mise’- Only SME to possess full line-up (10”~46”)- First digital convergence TV developer in the world
Expansion of ODM market through strategic alliances with NEC, Casio and MarantzExport business channels of more than 124 in 72 countries based on market dominance in Europe
LCD Panel - Stable supply from panel manufacturersMicronas IC (Core image quality chip)- Designated as Micronas Asia Lab in 2001 :
Stable supply of core IC chip with reasonable price
iMTVKoran TVGame TVMISE Engine
Flexible Decision-MakingFocused MarketingAggressive Product DevelopmentPrompt Product Commercialization
14
Initial Start in Overseas Business with High DemandInitial Start in Overseas Business with High Demand
DIBOSS DIBOSS –– The LCD TV SpecialistThe LCD TV Specialist
ODM + OBMODM + OBM
World RecognitionWorld Recognition
100% LCD TV, 200% CAGR. DIBOSS100% LCD TV, 200% CAGR. DIBOSS
15Initial Start in Overseas Business with Initial Start in Overseas Business with High DemandHigh Demand
20022003
2004
0%
25%
50%
75%
100%Domesticsales
Exports
20022003
2004.3Q
0%
25%
50%
75%
100% Others
U.S.A.
Middle East
Asia
Japan
Europe
• Established 76 business channels for exports in 28 countries in 2002• Secured 124 business channels for exports in 72 countries as of 2005 1Q
• Initial start in overseas business with precedent LCD TV market formation• Percentage of exports exceeding 96% in 2002~2004
Export-Oriented Growth Market Portion by region
16ODM + OBMODM + OBM
Improvementof
Growth
Reinforcementof
Stability
Establishmentof
Credibility
Improvementof
Profitability
Improvement ofBrandValue
ODM
• Improvement of customer confidence
• Establishment of references
• Influx of R&D cost• Reduction of investments
such as marketing• Improvement of operations
rate
• Secured demand• Penetration into world markets
• Planned Production• Strategic alliances with
major global companies
• Leading the new standards of digital convergence products
• Competitive advantage in speed
• DIBOSS – Reputable LCD TV Manufacturer
• Vitze – Masterpiece LCD TV
DIBOSS – Only LCD TV ODM Companyin Korea in the True Sense
0%
25%
50%
75%
100%
2001 2002 2003 2004
OBM
ODM
OEM
Strategic Allocation & Utilization of ODM & OBM Sales Structure by Business Term
Developmentof Next
GenerationProducts
OBM
17
Three companies(Disclosure prohibited
under NDA)
World RecognitionWorld Recognition
DIBOSS in Stockholm Airport, SwedenRecognition of DIBOSS
Quality Recognition through ODM with Global Leading Companies
• Introduction of 30” LCD TV in 2003, second to Sharp – Domination of initial European LCD TV market
• DIBOSS brand recognized in France, Italy, Sweden, the Netherlands, Germany and Eastern Europe
• Market expansion into other countries via ODM brand
No. 1 in Swiss Market with 30% M/S13% Share in Total European Market
DIBOSS in Saturn, Germany
DIBOSS in FUST, Switzerland
DIBOSS in Media market, Hungary
DIBOSS 3%
“No. 8 in the World“No. 8 in the World
Samsung17%
Sony11%
Others6%
Panasonic10%
LG 11%
Phillips 7%
Toshiba 4%
20042004
Sharp31%
18
2001 2002 2003 2004
0
35
70
40"
32"
30"
27"
26"
23"
20"
17"
15"
Others
100% LCD TV, 200% CAGR. DIBOSS100% LCD TV, 200% CAGR. DIBOSS
CAGR 204.7%(Billion Won)
High Annual Average Growth Over 200%
|2000Mar Established Sevit Co., Ltd.Oct Registered as MICRONAS’s Asia Lab
Jan Designated as venture companyJun Developed wireless 10.4” LCD TVSep Developed 15” / 17” / 20.1” LCD TV
Jun Designated as prominent export SMEJul Selected as INNO-BIZ (technology innovation) companyDec Developed 30” and 23” wide LCD TV
Oct Awarded Venture Business Grand PrizeNov Awarded Order of Industrial Service Merit Bronze Tower and US$ 10
Million Export TowerDec Developed 40” LCD TV
Apr Changed company name (Sevitech DIBOSS)May Established local sales and production subsidiary in Europe
Concluded co-marketing agreement for HD broadcasting with SkyLife
Jul Selected as 2004 1H Good Design (GD) Sep Featured world’s first Internet multimedia TV, “iMTV”Nov Awarded US$ 50 Million Export TowerDec Opened shop in Lotte Department Store (Myeongdong)
Received KOSDAQ Preliminary Screening Approval
|2001
|2002
|2003
|2004
Jan Awarded New Technology Innovation Management Grand Prize in the LCD TV sector by The Korea Economic Daily
May KOSDAQ listing
|2005
19
DIBOSS DIBOSS –– Holder of WorldHolder of World’’ssLeading TechnologyLeading Technology
WorldWorld’’s Leading Technology & Products Leading Technology & Product
Full LCD TV Product LineFull LCD TV Product Line--upup
InIn--house Technology Based on R&D house Technology Based on R&D
‘‘misemise’’ –– WorldWorld’’s Leading Image Quality Engines Leading Image Quality Engine
Leader of Convergence LCD TVLeader of Convergence LCD TV
20WorldWorld’’s Leading Technology & Products Leading Technology & Product
In-house TechnologyBased on R&D
Leader ofConvergence LCD TV
Full LCD TV Product Line-up
21Full LCD TV Product LineFull LCD TV Product Line--upup
• 10” LCD TV
• 15” LCD TV
• 20” LCD TV
• AV SET-TOP BOX for EU market
• 30” Wide LCD TV (The Second introduction in the world)
• 10” CASIO ODM LCD TV
• 17” Wide, 23” Wide LCD TV
• 17”/23”/30” NEC ODM LCD TV
200520042003200220012 Models1110”
1
1212
332
15 Models
5 Models4 Models1 Models6 Models3 Models4 Models1 Models4 Models5 Models5 Models2 Models
(Number of Models)
15”17”19”20”23”26”27”30”32”40”46”
11 Models8 Models2 Models6 Models
1
1
21222
1
3
2
4
12
1
• 40” Wide LCD TV
• 32” Wide LCD TV
• 30” Wide Marantz
ODM LCD TV
• 27” Wide LCD TV
• 26” Wide LCD TV
• The World’s first Internet, multimedia TV (iMTV)
• Built-in game & Koran LCD TV
• 46” Wide LCD TV
• 19”/26”/32”/40” New ODM LCD TV
• Built-in DVB-T (European DTV) LCD TV
• Digital all-in-one LCD TV
“Competitiveness Through Full Product Line-up from 10” to 46”
“Competitiveness Through Full Product Line-up from 10” to 46”Number of Product Models by Year and Size
Major Developments
22
• World-class German semiconductor company• IC applied to most of digital home electronic
products in the world• Technological Ability Recognized• Designated as MICRONAS Asia Lab
Strategic CooperationRelationship
InIn--house Technology Based on R&Dhouse Technology Based on R&D
2001
2002
2003
2004
Patent History
Advantage in price & function of small & mid-sized models due to
development of VCT-i Chip
Motion picture shaking prevention image engine developed in-house for the first
time in the world(Companies with image quality engines in the world:
DIBOSS, Sony, Samsung, LG)
In-house TechnologyImage Quality Engine
The World’s FirstApplication of
1 CHIP IC
Priority Support ofCore IC Technologies
Automatic controllable display device according to image display direction and its operation method (Patent registration)Installation structure of image display device (Patent registration)Wireless adjustable set top system (Patent registration)Fixed device of flat image display equipment (Removable type) (Patent application)Fixed device of flat image display equipment (Head rest type) (Patent application)LCD monitor/TV receiver (10.4” A) (Design registration)
Automatic controllable display device according to image display direction (Patent application)Display apparatus whose signal processing unit is separated (Patent application)Display technology that automatically adjusts visual image display (KT New technology Certification)LCD monitor/TV receiver (15.1” A) (Design registration)LCD monitor/TV receiver (15.1” D) (Design registration)LCD monitor/TV receiver (15.1” E) (Design registration)
LCD monitor/TV receiver (30”F model) (Design registration)LCD monitor/TV receiver (10.4”C model) (Design application)
LCD monitor/TV receiver (30” model) (Design application)
23
The World’s First Motion Picture Shaking Prevention Digital Engine
‘‘misemise’’ –– WorldWorld’’s Leading Image Quality Engines Leading Image Quality Engine
Reproduction of high speedmovement without shaking
Delicate reproduction oftender movement
Perfect reproductionof natural colors
24Leader of Convergence LCD TVLeader of Convergence LCD TV
• 16 built-in games including Tetris, Gallaga and baseball
• Great sensation in the Middle East and Asia
Built-in Koran
Built-in Game
Built-in InternetMultimedia functions
• The World’s first built-in Koran function• Appraised as “sacred LCD TV” in the
Middle East
DIBOSS Koran TV
DIBOSS GAME TV
• World’s first digital convergence product• Built-in exclusive multimedia board and 40G hard disk
drive• Internet, electronic album & remote computer
functions
DIBOSS iMTV
“DIBOSS – Leader of Digital Convergence Products”
“DIBOSS iMTV” – The World’s First Internet Multimedia TV
25
No. 1 Digital Convergence ProductsNo. 1 Digital Convergence Products
Management Strategy & VisionManagement Strategy & Vision
Continuing & Strengthening PositionContinuing & Strengthening Positionin the Niche Marketin the Niche Market
VisionVision
26
Introduction of Market Leading Products
No. 1 Digital Convergence ProductNo. 1 Digital Convergence Product
Display integrated with High-Tech Digital Home Electronics via High Quality Brand “VITZE”
BuiltBuilt--in Electronic Album, Gamesin Electronic Album, Games
Digital Broadcasting ReceptionDigital Broadcasting Reception
PC, InternetPC, Internet
DVD Player,MP3,Radio,Record TVDVD Player,MP3,Radio,Record TV
AllAll--inin--oneone
Introductionof Full 10~40’’
Product line-up
Introduction ofMulti-functional
Products
All-in-oneTV Products
Time to Market
Best in the Market
“VITZE” – Convergence MasterpieceIntroduction of Convergence Products Ahead of Competitors
High-Tech Digital Specialized Stable
Creative Craftsmanship Global
Continued Upgrading of Products
27Continuing & Strengthening Position in the Niche MarketContinuing & Strengthening Position in the Niche Market
“Preceding Convergence Product Development Ability+ Prompt & Flexible Commercialization Ability Compared to Large Firms
= Continuing & Strengthening Position in the Niche Market”
Hotel TV
Broadcasting TV
Koran TV
Special Channel TV
Let’s game TV!!
Let’s game TV!! Tetris.
racing.Baseball.
.
.
Tetris.racing.
Baseball...
Front Desk
ProgramManagement System
Media Center(system provider)
MTI
Room 1 Room 2 Room 3
MTI MTI
Hospital TV
Game TV
28VisionVision
No.1 DigitalConvergence Products
“Premium Digital TV Maker”
Full LCD TV Product Line-upIn-house TechnologyBased on R&D Leader of Convergence LCD TV
Time to Market &Best in the Market
Continuing & StrengtheningPosition in the Niche Market
Reinforcement of BrandRecognition in Domestic & Abroad
29
Sales & EarningsSales & Earnings
Summary Financial StatementsSummary Financial Statements
Major Financial RatiosMajor Financial Ratios
ValuationValuation
FinancialsFinancials
30Sales & EarningsSales & Earnings
CAGR 168%
0.1 0.3
2.7
4.6
10.1
4.6
2.8
6.0
7.0
8.1
0
3
6
9
12
2001 2002 2003 2004 2005(E)
0
2
4
6
8
10Operating Profit
Operating Profit Ratio
29
46
66
125
0
50
100
150
2001 2002 2003 2004 2005(E)
Continuing High Growth Rapid Improvement of Profitability
(Billion Won) (Billion Won) (%)
31Summary Financial StatementsSummary Financial Statements
22.1
7.2
0.0
2.0
3.2
2.0
14.9
1.7
13.2
22.1
3.9
1.0
7.2
14.9
2003
2.4
0.4
0.0
0.1
0.0
0.3
2.0
0.2
1.8
2.4
0.3
0.0
0.5
1.9
2001
39.4
9.5
0.0
4.6
3.2
2.0
29.9
1.1
28.7
39.4
5.6
1.3
10.5
28.9
2004
0.0 Capital Adjustments
12.3 Total Assets
2.3 Tangible Assets
8.8 Total Liabilities
2.0 Long-term Liabilities
6.8 Current Liabilities
12.3
3.5
0.3
1.6
1.6
0.4
4.8
7.5
2002
Total Shareholders’Equity
Additional Paid-in and Other Capital
Current Assets
Investments
Non-Current Assets
Total Liabilities & Shareholders’ Equity
Retained Earnings
Capital Stock
(Billion Won)
1.7
0.3
2.0
2.0
1.4
0.7
2.7
3.1
5.9
39.6
45.5
2003
0.1
0.0
0.1
0.1
0.0
0.0
0.1
0.6
0.7
1.6
2.3
2001
2.3
0.0
2.3
2.1
3.5
1.0
4.6
4.5
9.0
56.6
65.6
2004
0.3 Non-operating Income
0.3 Operating Profit
1.0 Selling, general & Administrative Expenses
0.2 Net Income Before Income taxes
0.2 Ordinary Profit
0.3 Non-operating Expenses
0.2
0.0
1.3
8.1
9.4
2002
Net Income
Sales
Gross Profit
Cost of Sales
Income Tax Expenses
(Billion Won)
Summary Balance Sheet Summary Income Statement
32Major Financial RatiosMajor Financial Ratios
100.4312.9
70.2389.9
112.9206.7
44.7270.3
110.8251.2
57.0112.8
Liquidity RatioDebt RatioTotal Borrowings to Total Asset RatioRetention Rate
Stability(%)
44.268.335.078.1
386.0943.8839.1
80.5
303.7145.3171.4414.8
Sales GrowthOperating Income GrowthNet Income GrowthTotal Asset Growth
Growth(% YoY)
7.03.5
27.87.6
6.03.8
32.210.0
2.82.09.42.5
Operating Income MarginNet Income MarginROEROA
Profit(%)
2.67.6
23.37.4
2003
Turnover(times)
2.17.46.58.1
2004
1.33.6
22.03.3
Total Asset TurnoverFixed Asset TurnoverTrade Receivables TurnoverInventory Asset Turnover
2002
33ValuationValuation
188
71
478
597
2001 2002 2003 2004
483 448
1,254
1,488
2001 2002 2003 2004
2.4
5.9
1,488
597
3,895
3,895
1.95
2004
2.87.87.2PBR (times)
7.349.318.6PER (times)
1,254448483Net Assets Per Share (Won)
47871188Earnings Per Share (Won)
3,6072,575360Average Shares Outstanding (‘000 Shares)
3,8953,280600Shares Outstanding (‘000 Shares)
1.951.640.3Capital Stock (Billion Won)
200320022001
Earnings Per Share (Won) Net Assets Per Share (Won)
* Bottom public offering price of 3,500 won was applied for stock price
34
Company Overview
Major Products
KOSDAQ Listing Information
AppendixAppendix
35Company OverviewCompany Overview
KRW 65.6 Billion (As of 2004)Sales
KRW 500Par Value
LCD TVCore Products
Manufacture of Television and Radio Receivers, Sound/ Video Recording or Reproducing Apparatuses, and Related Goods (D32300)
Industry Classification
100No. of Employees
126-1, Gongdan-dong, Gumi, Gyeongsangbuk-do, KoreaHead Office
www.diboss.comHomepage
KRW 1.95 BillionCapital Stock
March 16, 2000Establishment Date
Big Chance ShimCEO
DIBOSS Co., Ltd.Company Name
LG ElectronicsDirector / Production DivisionMan-kyung ParkLG ElectronicsDirector / Quality Mgt. DivisionJae-min ChoLG ElectronicsDirector / Domestic SalesHak-seob Shin
Ssangyong Securities, Seoul Securities, Dongbu Group
Director / Planning & ManagementNam-gu Kim
LG ElectronicsDirector / Solution Business DivisionDong-su Lee
LG ElectronicsCEOBig Chance Shim
LG Electronics, LGPhilipsDirector / Marketing DivisionHong-kyu HaLG ElectronicsDirector / Seoul R&D CenterSung-ryul Chun
Hyundai Electronics,Hyundai mSystemAuditorWoo-jin Kang
BackgroundTitle / DutyName
General Information
Organization
Management
CEOBig Chance Shim
Office ofthe PresidentAuditor
MarketingProduction
R&D - SeoulPlanning &Administration
Domestic SalesQuality Control
R&D - Gumi
Overseas Sales 1
Overseas Sales 2
Overseas Sales 3
Sales Administration
Domestic Sales 1Domestic Sales 2
Production Support
Procurement
Quality AssuranceQuality Management
Strategic Procurement
R&D 1R&D 2R&D 3
R&D Strategy
R&D A
R&D B
Administration
Financial Planning
Accounting
SecretaryStrategic Planning
Domestic CS
DIBOSS EU
Planning & Administration
Finance & Accounting
Production Quality Control
Marketing
DIBOSS France
IR
36KOSDAQ Listing InformationKOSDAQ Listing Information
• IPO Price Band : KRW 3,500~4,100
• Shares to be offered : 974,660 Shares
• Shares to be listed : 4,870,000 Shares
• IPO Price Band : KRW 3,500~4,100
• Shares to be offered : 974,660 Shares
• Shares to be listed : 4,870,000 Shares
• Pricing Date : May 11, 2005
• Subscription Date :
- Institutional Investors : May, 18, 2005
- General Public : May 19~20, 2005
• Initial Trading Date : May 27, 2005
• Pricing Date : May 11, 2005
• Subscription Date :
- Institutional Investors : May, 18, 2005
- General Public : May 19~20, 2005
• Initial Trading Date : May 27, 2005
KRW1.95
Billion
KRW2.43
Billion
Majority Shareholder& Affiliated Parties
44.6%
Shareholder with5% or Higher
36.1%
Other Shareholders19.2%
Majority Shareholder& Affiliated Parties
35.7%
Shareholder with 5% or Higher28.9%
Other Shareholders15.4%
Public Offering20.0%
Stock Information Public Offering Schedule (Plan)
Pre-Public Offering Shareholder Composition
Post-Public Offering Shareholder Composition
