Korean Air Lines Co

KOSE:A003490

South Korea / Industrials / Passenger Airlines

Overview

Dividends

5Y Historical Financials

Stock Price

21,300.00 KRW


Key Metrics	Latest
Total Revenue	17,870.7 B
Adjusted EBITDA	3,885.7 B
EBITDA Margin	21.7%
Net Profit Margin	7.2%
Total Assets	47,012.1 B
Total Debt	19,425.9 B

5Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	12 Months	Dec-23	Dec-24

Revenue	7,610,530.92	9,016,824.64	14,096,094.82	16,111,796.11	17,870,718.50	17,870,718.50	16,111,796.11	17,870,718.50
% Growth		0.18	0.56	0.14	0.11			0.11

Adjusted EBITDA	2,076,061.79	3,105,401.82	4,478,874.95	3,512,042.56	3,885,713.00	3,885,713.00	3,512,042.56	3,885,713.00
% Margin	0.27	0.34	0.32	0.22	0.22	0.22	0.22	0.22

Adjusted EBIT	106,942.39	1,410,037.29	2,829,138.87	1,789,146.19	2,089,683.08	2,089,683.08	1,789,146.19	2,089,683.08
% Margin	0.01	0.16	0.20	0.11	0.12	0.12	0.11	0.12

Adjusted Net Income	258,587.17	656,792.03	1,692,779.81	1,157,875.46	1,291,714.98	1,291,714.98	1,157,875.46	1,291,714.98
% Margin	0.03	0.07	0.12	0.07	0.07	0.07	0.07	0.07

Adjusted Basic EPS	1,608.71	2,041.25	4,699.28	3,135.06	3,497.44	3,497.44	3,135.06	3,497.44

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
						Original
KRW	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-24	Dec-23	Dec-24
	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM	YTD-1	YTD

Revenue	7,610,531	9,016,825	14,096,095	16,111,796	17,870,718	17,870,718	16,111,796	17,870,718
% Growth	NA	18.5%	56.3%	14.3%	10.9%			10.9%

Cost of Revenue	(6,850,104)	(6,912,047)	(10,245,440)	(12,850,302)	(14,112,550)	(14,112,550)	(12,850,302)	(14,112,550)
Gross Profit	760,427	2,104,778	3,850,654	3,261,494	3,758,168	3,758,168	3,261,494	3,758,168
% Revenue	10.0%	23.3%	27.3%	20.2%	21.0%	21.0%	20.2%	21.0%

Research and Development	0	0	0	0	0	0	0	0
Selling and Marketing	(132,800)	(167,049)	(375,502)	(612,542)	(686,050)	(686,050)	(612,542)	(686,050)
General and Admin	(401,597)	(416,274)	(507,397)	(724,227)	(856,386)	(856,386)	(724,227)	(856,386)
Other Inc / (Exp)	(694,778)	(363,136)	(167,020)	(124,703)	(153,418)	(153,418)	(124,703)	(153,418)
Total Operating Exp	(1,229,176)	(946,460)	(1,049,918)	(1,461,473)	(1,695,854)	(1,695,854)	(1,461,473)	(1,695,854)

Operating Income	(468,749)	1,158,318	2,800,736	1,800,022	2,062,314	2,062,314	1,800,022	2,062,314
% Revenue	-6.2%	12.8%	19.9%	11.2%	11.5%	11.5%	11.2%	11.5%

Interest Expense	(466,948)	(315,204)	(238,601)	(224,331)	(226,139)	(226,139)	(224,331)	(226,139)
Pre-tax Income	(935,697)	843,114	2,562,135	1,575,690	1,836,176	1,836,176	1,575,690	1,836,176
Earnings of Discontinued Ops.	593,438	0	0	0	0	0	0	0
Provision for Taxes	112,240	(264,332)	(832,632)	(446,585)	(454,318)	(454,318)	(446,585)	(454,318)
Net Income to Company	(230,019)	578,782	1,729,503	1,129,106	1,381,858	1,381,858	1,129,106	1,381,858
% Margin	-3.0%	6.4%	12.3%	7.0%	7.7%	7.7%	7.0%	7.7%

Minority Interest in Earnings	18,473	(1,098)	(1,140)	(67,940)	(64,596)	(64,596)	(67,940)	(64,596)
Net Income to Stockholders	(211,545)	577,684	1,728,363	1,061,165	1,317,262	1,317,262	1,061,165	1,317,262

Preferred Dividends	0	0	0	0	0	0	0	0
Other Adj.	(651,082)	(16,736)	(3,953)	(2,622)	0	0	(2,622)	0

Net Income to Common	(862,628)	560,947	1,724,410	1,058,543	1,317,262	1,317,262	1,058,543	1,317,262
% Margin	-11.3%	6.2%	12.2%	6.6%	7.4%	7.4%	6.6%	7.4%

As Reported
Basic EPS (Continuing Ops)	(5,366.53)	1,743.37	4,787.09	2,866.11	3,566.61	3,566.61	2,866.11	3,566.61
Diluted EPS (Continuing Ops)	(5,366.53)	1,662.06	4,787.09	2,866.11	3,566.61	3,566.61	2,866.11	3,566.61

WA Basic Shares Out.	160.74	321.76	360.22	369.33	369.33	369.33	369.33	369.33
WA Diluted Shares Out.	160.74	341.51	360.22	369.33	369.33	369.33	369.33	369.33

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	(935,697)	843,114	2,562,135	1,575,690	1,836,176	1,836,176	1,575,690	1,836,176
Addback: Net Interest Expense	466,948	315,204	238,601	224,331	226,139	226,139	224,331	226,139
Addback: Other Non Operating Expenses, Total	(84,587)	146,301	78,029	(49,754)	149,184	149,184	(49,754)	149,184
Addback: Depreciation & Amortization	1,969,119	1,695,365	1,649,736	1,722,896	1,796,030	1,796,030	1,722,896	1,796,030
Addback: Restructuring Charges	0	0	0	0	0	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	0	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	(242)	(137,000)	(33,062)	(3,141)	(868)	(868)	(3,141)	(868)
Addback: Gain (Loss) On Sale Of Assets	20,981	(33,035)	(158,522)	31,629	(120,947)	(120,947)	31,629	(120,947)
Addback: Asset Writedown	639,538	275,453	141,958	10,390	0	0	10,390	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	0	0	0	0	0	0	0	0
Adjusted EBITDA	2,076,062	3,105,402	4,478,875	3,512,043	3,885,713	3,885,713	3,512,043	3,885,713
% Margin	27.3%	34.4%	31.8%	21.8%	21.7%	21.7%	21.8%	21.7%

Adjusted EBIT	106,942	1,410,037	2,829,139	1,789,146	2,089,683	2,089,683	1,789,146	2,089,683
% Margin	1.4%	15.6%	20.1%	11.1%	11.7%	11.7%	11.1%	11.7%

Adjusted Net Income Reconciliation
Net Income to Company	(230,019)	578,782	1,729,503	1,129,106	1,381,858	1,381,858	1,129,106	1,381,858
Addback: Unusual Items	660,278	105,419	(49,626)	38,878	(121,815)	(121,815)	38,878	(121,815)
Less: Tax Benefit of Unusual Items (26%)	(171,672)	(27,409)	12,903	(10,108)	31,672	31,672	(10,108)	31,672
Adjusted Net Income	258,587	656,792	1,692,780	1,157,875	1,291,715	1,291,715	1,157,875	1,291,715
% Margin	3.4%	7.3%	12.0%	7.2%	7.2%	7.2%	7.2%	7.2%

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Korean Air Lines Co

KOSE:A003490

South Korea / Industrials / Passenger Airlines

5Y Historical Financials