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Annual Report 2013 Vibrant Like the Vibrant Beat of Music AnnuAl RepoRt 2013 _ Vibrant Like the vibrant beat of music Distinctive Through our distinctive design Reliable As a reliable and trustworthy partner A Different Beat We share a different beat of the future of mobility, driving towards a new era of growth around the world 03 Contents Despite a challenging business environment in 2013, Kia Motors cemented its prominent position 06 Financial Highlights OuR PeRfORmAnce OuR fuTuRe in the global automotive market, recording sales of 2.83 million units, up about 4% over the 07 Business Highlights 26 Domestic Business Performance 52 Corporate Social Responsibility previous year. In addition to our sales accomplishments, we made significant achievements in 08 2013 at a Glance 28 Overseas Business Performance 54 Research & Development quality management, design management and sustainable management. We are becoming a truly 14 Chairman’s Message 32 Global Awards List 60 Global R&D Network global brand in terms of our economic, environmental and social values, and we will continue to 16 Vice Chairman’s Message 62 Eco-friendly Models OuR STRengThS make every effort to become a leader in the automotive industry. 18 Group Core Values 63 Concept Cars 38 Design Management 19 Company Vision 42 Branding 64 Financial Review 20 Corporate History 44 Marketing 128 Product Line-up 46 2013 New Models 130 Global Network 132 Board of Directors KIA MOTORS AnnuAl Report 2013 04 05 2012 at A GlAnce finAncial highLights BuSiness highLights 2013 2012 2011 2010 2009 2013 2012 2011 2010 2009 consolidated Statement of Financial position* Global Retail Sales (Unit: Thousand units) (KRW in millions) Total Assets 36,182,040 32,398,314 30,255,179 26,275,144 25,962,876 Total 2,746 2,709 2,478 2,088 1,651 Cash Items (Liquidity) 6,346,643 4,270,539 3,934,169 2,914,146 2,792,286 Korea 458 481 492 483 411 Current Assets 13,472,386 11,139,430 11,075,187 9,763,671 11,208,990 Overseas 2,289 2,228 1,986 1,605 1,239 Total Liabilities 15,927,245 15,550,252 16,745,469 16,027,027 18,658,782 Short-term Debt 1,640,958 1,404,947 3,104,071 3,585,210 3,752,210 Current Liabilities 10,806,238 10,000,239 11,421,924 11,627,539 12,910,209 Sales by Region Long-term Debt 1,698,194 2,471,132 2,503,230 2,755,446 6,192,950 (Unit: % / Thousand units) 16.7 Total Debt 3,339,152 3,876,079 5,607,300 6,340,656 9,945,160 31.6 Korea US China Europe* Rest of World Net Debt (3,007,491) (394,460) 1,673,132 3,426,510 7,152,874 Total Stockholders’ Equity 20,254,795 16,848,062 13,509,709 10,248,117 7,304,094 458 Total Liabilities & Stockholders’ Equity 36,182,040 32,398,314 30,255,179 26,275,144 25,962,876 535 Portion (%) Liability-to-Equity Ratio 78.6% 92.3% 124.0% 156.4% 255.5% 19.5 547 2,746 Debt-to-Equity Ratio 16.5% 23.0% 41.5% 61.9% 136.2% ToTal 338 Net Debt-to-Equity Ratio (14.8%) (2.3%) 12.4% 33.4% 97.9% 868 consolidated Statement of Income* 12.3 19.9 (KRW in millions) * Europe = EU+EFTA countries Revenue 47,597,897 47,242,933 43,190,942 35,826,955 29,257,392 Cost of Sales 37,511,941 36,536,005 33,138,961 27,905,367 22,769,058 Cost of Sales (%) 78.8% 77.3% 76.7% 77.9% 77.8% Sales by plant 11.1 Gross Profit 10,085,956 10,706,928 10,051,981 7,921,588 6,676,148 (Unit: % / Thousand units) Operating Profit 3,177,100 3,522,251 3,499,088 2,369,852 1,195,206 Korea US China Slovakia Margin (%) 6.7% 7.5% 8.1% 6.6% 4.1% 19.3 Pretax Profit 4,828,576 5,164,056 4,721,650 3,323,048 1,220,714 1,598 Portion (%) Net Profit 3,817,059 3,864,704 3,519,236 2,698,331 1,020,632 369 2,827 56.5 Margin (%) 8.0% 8.2% 8.1% 7.5% 3.5% 547 ToTal consolidated Statement of cash Flows* 313 (KRW in millions) 13.1 Cash Flows from Operating Activities 4,776,593 4,345,425 4,745,189 5,272,537 4,306,926 Cash Flows from Investing Activities (3,513,940) (2,842,577) (2,630,548) (2,296,053) (1,739,819) Cash Flows from Financing Activities (791,207) (1,810,114) (1,440,956) (3,343,298) (1,796,307) production by plant 11.1 Cash and Cash Equivalents, Beginning of Year 1,903,309 2,304,169 1,615,879 2,001,225 1,268,631 (Unit: %, Thousand units) Net Increase (Decrease) 407,955 (400,860) 688,290 (385,346) 1,032,510 Korea US China Slovakia Cash and Cash Equivalents, End of Year 2,311,264 1,903,309 2,304,169 1,615,879 2,301,141 1,599 19.5 credit Rating 369 Portion (%) KIS AA+ AA+ AA AA AA- 2,832 56.4 Domestic 551 ToTal KOREA Rating AA+ AA+ AA AA AA- Moody’s Baa1 Baa1 Baa2 Baa3 Baa3 313 Overseas S&P BBB+ BBB+ BBB BBB BBB- 13.0 * Consolidated data based on K-GAAP for 2009 and K-IFRS for 2010-2013 KIA MOTORS AnnuAl Report 2013 06 07 FInAncial Highlights•Business Highlights SaleS by plant (Unit: Thousand units) 2013 1,598 1,229 2,827 2012 1,589 1,131 2,720 2011 1,581 957 2,538 2010 1,400 730 2,130 2009 1,142 392 1,534 Globality Korea Overseas In 2013, despite sluggish domestic demand and a slow recovery in the 2013 1,599 1,233 2,832 global economy, Kia Motors saw growth of 4% in both production and 2012 1,586 1,138 2,724 sales. Kia Motors is becoming an ever more global company, with a steady 2011 1,584 959 2,543 rise in the percentage of production and sales coming from overseas. 2010 1,417 722 2,139 2009 1,137 394 1,531 Korea Overseas production by plant (Unit: Thousand units) KaMti o orS annual report 2013 08 09 2013 at a Glance OperatinG pROFIT* (Unit: KRW in billions) 2013 6.7 3,177 2012 7.5 3,522 2011 8.1 3,499 2010 6.6 2,370 2009 4.1 1,195 ProfitabiLity Operating Profit % of Revenue in 2013, Kia motors’ operating and net profits stood at KRW 3,177 billion and KRW 2013 8.0 3,817 3,817 billion, respectively. These figures are slightly down on last year, but they 2012 8.2 3,865 also suggest that Kia motors is maintaining a stable business position despite the 2011 8.1 3,519 difficult global environment and unfavorable exchange rates. 2010 7.5 2,698 2009 3.5 1,021 Net Profit % of Revenue neT pROFIT* (Unit: KRW in billions) * Consolidated data based on K-GAAP for 2009 and K-IFRS for 2010-2013 KIA MOTORS AnnuAl Report 2013 10 11 2013 at A GlAnce 2016 Become a “global tier-1 green brand” 2015 Begin full-fledged implementation of eco initiatives 2014 lay eco groundwork for corporate eco initiatives 2013 • Developed eco guideline for the implementation of green strategy 2012 established basic strategy • established integrated eco for Kia’s eco brand marketing strategy to enhance SuStAinabiLity ecO MARKeTInG ROADMAp brand value 2011 Kia wants to be a leader in the future of sustainable mobility; this means • established a global social cSR ROADMAp contribution system and related emphasizing social and environmental values as well as financial performance. execution strategies 2012 Built two bases in Tanzania • established a system for We are therefore building a strong brand through a number of social contributions identifying and implementing and Malawi programs and eco-friendly marketing activities. 2013 • Built four bases in Tanzania, Malawi and Mozambique 2014-2015 Operated support programs for • Add two bases every year, starting selected local communities • with Tanzania and ethiopia in 2014 Volunteer work undertaken • Increase participation in cSR activities by staff groups • by Kia staff around the world 2016- • Build a network to help local • conduct a project in collaboration communities become financially with an external stakeholder independent • expand the geographical reach of our overseas projects beyond Africa KIA MOTORS AnnuAl Report 2013 12 13 2013 at A GlAnce chAiRmAn’S message In 2013, Kia Motors achieved continued growth despite a challenging business environment at home and abroad. Our worldwide market presence has further increased, with total global sales of 2.83 million units, up about 4% over the previous year. The global economy has experienced fierce competition, especially given the overall low growth environment, and uncertainties have increased due to transformations in the industrial landscape resulting from technological convergence. As such, Kia Motors will look to our continued evolution so that in 2014 we can prepare ourselves for the next phase of growth. Our responses to the changing business environment at home and abroad will be rapid and flexible. As such, we will enhance our organizational efficiencies and dynamics by fortifying our global business operations and management systems. We will also improve our business structure and our mid-to-long- term growth strategies so that we may focus on developing more innovative products and advanced technologies. In particular, the fuel efficiency and safety of our products will be further improved, and more investments will be made into innovative technologies, including eco-friendly cars and smart cars in which the latest cutting-edge technologies will converge.
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