Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the third quarter of fiscal year 2004, with a report date of October 29, 2004. The filing presents tentative financial performance figures for Woori Bank, a wholly-owned subsidiary of the registrant.
Key Financial Metrics
The following key earnings figures are reported in billions of Korean Won (KRW) on a cumulative basis for the third quarter:
| Item | 3Q 2004 | 3Q 2003 | Change |
|---|---|---|---|
| Operating Revenue | 2,794 | 2,554 | +9.4% |
| Operating Income | 760 | 975 | -22.0% |
| Net Income | 854 | 1,158 | -26.2% |
The filing text does not provide specific values for cash flow, debt levels, liquidity ratios, or profit margins beyond the operating and net income figures listed above.
Material Changes
- Revenue Growth: Operating revenue increased by 9.4% year-over-year.
- Profit Decline: Despite revenue growth, Operating Income fell by 22.0% and Net Income decreased by 26.2% compared to the same period in 2003.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future outlook, or specific risk factors. It notes that the reported figures are tentative interim numbers and are subject to adjustment.
Investor Verification Checklist
- Verify the final audited figures for Q3 2004, as the current numbers are tentative and subject to adjustment.
- Investigate the specific drivers behind the 22% decline in Operating Income despite a 9.4% increase in Operating Revenue.
- Confirm the consolidated financial position of Woori Finance Holdings, as this report focuses solely on the subsidiary Woori Bank.