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  • Samsung Ranks Top in 'Economic Value Added' Survey
  • April 10, 1998 (SEOUL) -- Among Korea's listed firms that closed their books in December 1997, Samsung Electronics Co., Ltd. ranked first in "economic value added" (EVA), posting a surplus of 1.025 trillion won (US$727 million).
    It was the third straight year that Samsung Electronics topped the rankings, which began in 1995.

    EVA, a major business efficiency indicator, refers to the amount after subtracting capital costs from total profits.

    In a survey of 505 firms, jointly conducted by Maeil Business News and Daewoo Economy Research Institute, four out of five companies recorded EVA deficits in 1997.

    Deficits totaled nearly 6.7 trillion won, or 2.7 times that of 1996.

    Samsung Electronics was followed by SK Corp., Ssanyong Oil Refinery, Hanhwa Energy, LG Electronics, Pohang Iron & Steel, LG Information & Communications, SK Telecom, Daewoo Electronics and Hyundai Motor Co.

    SK Corp. jumped to the second rank last year from the previous 18th position, and Ssangyong improved to third from 11th, while POSCO fell to sixth last year from second in 1996 and Hyundai Motor slid to 10th from third.

    In terms of per share EVA, SK Telecom ranked first at 27,402 won. It was followed by Daesang, SK Corp., Hanhaw Energy, LGIC and Yukong Co. In terms of the EVA annual growth rate, refiners and energy producers topped the list, with Hanhwa Energy registering a 645 percent growth, followed by LG and Yukong.

    Despite the floundering semiconductor market in 1997, Samsung Electronics posted nearly 2.86 trillion won in total sales, almost twice that of 1996. However, its net income for the year fell 24.7 percent to 1.235 trillion won.

    (Maeil Business Newspaper, Korea)


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    Updated: Thu Apr 9 16:40:52 1998