Victek Co., Ltd: Defense Company Profile, SWOT & Financial Report by ICDResearch

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									Victek Co., Ltd.

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Victek Co., Ltd.                                                               Financial Snapshot

                                                                               Operating Performance
Fast Facts
                                    349, Gakpyeong-Ri, Icheon, 467-814,South   The company reported revenue of US$36.80 million
Headquarters Address
                                    Korea                                      during the fiscal year 2010 (2010). The company's
                                                                               revenue grew at a CAGR of 1.53% during 2006–
Telephone                           + 82 31 6317301
                                                                               2010, with an annual decline of 8.74% over 2009. In
                                                                               2010, the company recorded an operating margin of
Fax                                 + 82 31 631731113                          7.04%, as against 10.20% in 2009.

Website                             www.victek.co.kr
                                                                               Revenue and Margins
Ticker Symbol, Stock Exchange       065450, KOSDAQ

Number of Employees                 203

Fiscal Year End                     December

Revenue (in US$ million)            36.80

Revenue (in KRW million)            42,681.48




SWOT Analysis                                                                  Return on Equity

Strengths                           Weaknesses                                 The company recorded a return on equity (ROE) of
                                                                               7.54% for 2010, as compared to its peers, Samsung
Strong financial leverage           Overdependence on select region            TechWin Co., Ltd. (Ticker: 012450), Cubic
                                                                               Corporation (Ticker: CUB) and Huneed Technologies
                                                                               (Ticker: 005870), which recorded ROEs of 18.45%,
Strong liquidity position                                                      14.47% and -5.71% respectively. The company
                                                                               reported an operating margin of 7.04% in 2010.
Strong operating performance
                                                                               Return on Equity
Opportunities                       Threats

Growing South Korean defense market Government contract compliance

Steady Growth in South Korean
                                    Unstable Korean labor market
homeland security market




                                                                               Liquidity Position

                                                                               The company reported a current ratio of 2.03 in 2010,
                                                                               as compared to its peers, Samsung TechWin Co.,
                                                                               Ltd., Cubic Corporation and Huneed Technologies,
                                                                               which recorded current ratios of 1.07, 2.20 and 2.17
                                                                               respectively. As of December 2010, the company
                                                                               recorded cash and short-term investments of worth
                                                                               US$14.14 million, against US$0.27 million current
                                                                               debt. The company reported a debt to equity ratio of
                                                                               0.05 in 2010 as compared to its peers, Samsung
                                                                               TechWin Co., Ltd., Cubic Corporation and Huneed
                                                                               Technologies, which recorded debt to equity ratios of
                                                                               0.64, 0.04 and 0.60 respectively.




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Victek Co., Ltd. - SWOT Profile                                                                                       Page 1
Victek Co., Ltd.

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 7
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
    2.2       Key Financial Performance Indicators .................................................................................................................10
      2.2.1       Revenue and Operating Profit .........................................................................................................................10
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................11
      2.2.3       Operational Efficiency ......................................................................................................................................12
      2.2.4       Solvency ..........................................................................................................................................................13
      2.2.5       Valuation ..........................................................................................................................................................14
    2.3       Competitive Benchmarking ..................................................................................................................................15
      2.3.1       Market Capitalization .......................................................................................................................................15
      2.3.2       Efficiency ..........................................................................................................................................................16
      2.3.3       Capital Expenditure ..........................................................................................................................................17
      2.3.4       Turnover – I
								
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