Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) was submitted on March 4, 2005. The report provides preliminary, unaudited consolidated key financial performance figures for the fiscal year ended December 31, 2004.
Key Financial Metrics
All figures are presented in millions of Korean Won (KRW) on a consolidated basis.
| Item | FY 2004 | FY 2003 | Change |
|---|---|---|---|
| Operating Revenue | 13,359,215 | 10,403,445 | +28.4% |
| Operating Profit | 1,167,263 | 343,236 | +240.0% |
| Recurring Profit | 1,234,736 | 231,062 | +434.4% |
| Net Income | 1,292,493 | 56,279 | +2,196.6% |
The filing does not provide specific data regarding cash flow, debt levels, liquidity ratios, or specific margin percentages beyond the profit figures listed above.
Material Changes
The company reported substantial growth across all reported profit metrics compared to the prior fiscal year:
- Net Income: Increased by 2,196.6%, rising from 56,279 million KRW to 1,292,493 million KRW.
- Recurring Profit: Surged by 434.4%.
- Operating Profit: Grew by 240.0%.
- Operating Revenue: Expanded by 28.4%.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future outlook, or specific discussion of risks and contingencies. The document explicitly states that the figures are interim numbers, have not been audited by independent auditors, and are subject to adjustments.
Investor Verification Checklist
- Verify the final audited financial statements for FY2004 to confirm if the preliminary figures require adjustment.
- Investigate the specific drivers behind the 2,196.6% increase in Net Income and 434.4% increase in Recurring Profit to determine if they stem from operational growth or one-time items.
- Review subsequent filings for detailed breakdowns of debt, liquidity, and cash flow, which are absent in this summary.