Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the preliminary consolidated financial performance for the second quarter and the six-month period ended June 30, 2007. The report was filed on August 1, 2007.
Key Financial Metrics
All figures are in millions of KRW unless otherwise noted.
| Metric | 2Q 2007 | Cumulative 2007 (6M) | 2Q 2006 | Cumulative 2006 (6M) |
|---|---|---|---|---|
| Operating Revenue | 5,633,380 | 11,676,938 | 5,148,144 | 9,894,129 |
| Operating Profit | 895,592 | 2,172,177 | 855,066 | 1,475,010 |
| Income Before Tax | 908,324 | 2,180,434 | 861,344 | 1,491,508 |
| Net Income | 617,324 | 1,504,346 | 564,413 | 1,004,520 |
The filing does not provide specific data regarding cash flow, debt levels, liquidity ratios, or explicit margin percentages.
Material Changes
- Quarter-over-Quarter (2Q 2007 vs. 1Q 2007): Operating revenue declined 6.79% to 5.63 billion KRW. Operating profit dropped significantly by 29.84% to 895.6 million KRW. Net income fell 30.40% to 617.3 million KRW.
- Year-over-Year (2Q 2007 vs. 2Q 2006): Operating revenue increased 9.43%. Operating profit rose 4.74%. Net income grew 9.37%.
- Cumulative Year-to-Date: Operating revenue increased 18.02% compared to the prior year. Operating profit surged 47.27%, and Net Income increased 49.76%.
Outlook, Risks, and Unusual Items
The filing contains no specific management commentary, forward-looking guidance, or discussion of risks and contingencies. The document explicitly states that the figures are preliminary interim numbers and have not been reviewed by independent auditors, meaning they are subject to adjustment.
Investor Verification Checklist
- Verify the final audited figures for the second quarter and first half of 2007, as current numbers are preliminary.
- Investigate the cause of the significant 29.84% sequential decline in operating profit between Q1 and Q2 2007.
- Confirm the company's debt levels and liquidity position, which are not disclosed in this summary.
- Review the full annual report (Form 20-F) for detailed segment analysis and risk factors.