SK Annual Report 2009 We Build the Great
01 Profile 02 New Orders 2009(Overseas) 04 Connection 06 Dream 08 Affluence 10 Financial Highlight 12 Message from the CEO 14 Board of Directors & Corporate Governance 16 At a glance 18 Sustainable Company Business Overview 24 Civil Engineering Business _ 28 Architecture & Housing Business _ 32 Plant Business _ 32 Petrochemical Plants _ 36 Energy & Power, Industrial Plants _ 40 Ubiquitous Business _ 44 Marketing & Development _ Financial Review 47 Business Report _ 57 Audit Report _ 58 Financial Statements _ 68 Audit Report _ 69 Company Milestone 70 Global Network
We Build the Great Great Life, Great World
Turkey Kuwait Saudi Arabia United Arab Emirates India Vietnam Thailand Singapore 02
SK E&C Annual Report 2009 New Orders 2009(Overseas) India mangalore, Mangalore SPR Cavern 607 Civil Engineering India Padur, Padur SPR(Part-B) 567 Singapore, DowntownLineStage-2Contract915 1,880 Ecuador Vietnam, Van Phong Internal Transshipment Port 369 Architecture & Housing United Arab Emirates, Al-Reem Island C-13 2,806 Ecuador, Esmeraldas Refinery Rehabilitation 4,391 Ecuador, Manabi 499 Kuwait, BS-132 7,635 Saudi Arabia, Jubail Export Refinery 5,000 Plant Saudi Arabia, Kayan Pipeline 296 Thailand, Clean Fuel 1,238 Turkey, Tufanbeyli 11 United Arab Emirates, RRE 24,689 United Arab Emirates, Bab Gas Compression 9,689 03
Civil Engineering Connection Our infrastructure improves the quality of life by connecting logistics, information and people
9,485 95 17,003 3,423 India Vietnam Singapore New Orders 2009(Overseas) India mangalore, Mangalore SPR Cavern 607 India Padur, Padur SPR(Part-B) 567 Singapore, DowntownLineStage-2Contract915 1,880 Vietnam, Van Phong Internal Transshipment Port 369
Architecture & Housing Dream Our houses and buildings grow the dream of families and companies
11,449 264 18,910 2,806 United Arab Emirates New Orders 2009(Overseas) United Arab Emirates, Al-Reem Island C-13 2,806
Business Overview Architecture & Housing Petrochemical, Industrial & Ubiquitous Affluence Our plant creates increasingly affluent world by producing useful products and energy
18,098 9,110 61,174 52,997 Ecuador Turkey Kuwait South America Saudi Arabia United Arab Emirates Thailand New Orders 2009(Overseas) United Arab Emirates, Bab Gas Compression 9,689 United Arab Emirates, RRE 24,689 Saudi Arabia, Jubail Export Refinery 5,000 Saudi Arabia, Kayan Pipeline 296 Ecuador, Esmeraldas Refinery Rehabilitation 4,391 Kuwait, BS-132 7,635 Thailand, Clean Fuel 1,238 Turkey, Tufanbeyli 11
Financial Highlight Financial Highlight 2009 2008 2007 Operating result 39,407 40,773 41,359 9,485 8,703 6,122 11,449 9,796 11,897 10,588 15,499 17,438 7,510 5,950 5,251 375 825 651 4,722 5,631 5,395 1,016 2,141 2,114 746 1,765 1,610 504 1,145 1,112 Financial position 33,937 30,710 23,121 25,314 22,388 16,684 8,623 8,322 6,437 Data per share () 2,213 5,387 5,202 Ratio 12.0% 13.8% 13.0% 2.6% 5.3% 5.1% 293.6% 269.0% 259.2% Others 20,294,937 20,294,937 20,294,937 3,414 3,348 2,944 10
7,510 19.0% 375 1.0% 24.1% 9,485 SK E&C Annual Report 2009 26.9% 39,407 10,588 29.0% 11,449 5,395 5,631 2,114 2,141 4,722 1,016 2007 2008 2009 2007 2008 2009 97,022 97,448 169,062 193,980 67,735 112,826 2007 2008 2009 2007 2008 2009 11
Message from the CEO Message from the CEO 12
SK E&C Annual Report 2009 13
Board of Directors & Corporate Governance Board of Directors & Corporate Governance 01. 05. 02. 06. 03. 07. 04. 14
SK E&C Annual Report 2009 15
At a glance At a glance 03March 04April 05May 06June 07July 040506 03 07 16
08August 09September 0809 1011 10October 11November 12December SK E&C Annual Report 2009 12 17
Sustainable Company Sustainable Company 18
SK E&C Annual Report 2009 Green Culture Green Product Green Planning Green Process 19
Sustainable Company Our change Green Culture Green Process Environmental Control Input Process (Activity) Output 20
SK E&C Annual Report 2009 Green Product Green Planning Input Output 21
Sustainable Company Our Actions 22
Business Overview 24 _ Civil Engineering Business 28 _ Architecture & Housing Business 32 _ Plant Business _ Petrochemical Plants 36 _ Plant Business _ Energy & Power, Industrial Plants 40 _ Plant Business _ Ubiquitous Business 44 _ Marketing & Development Business
Civil Engineering Business Civil Engineering Business 24
SK E&C Annual Report 2009 9,485 8,703 6,122 2007 2008 2009 25
Civil Engineering Business Civil Engineering Business 26
SK E&C Annual Report 2009 17,003 14,999 6,100 2007 2008 2009 2009.11.21 ~ 2014.11.20 2009.11.13 ~ 2014.04.12 2007.10.09 ~ 2010.07.08 2010.03.28 ~ 2012.09.27 2009.07.07 ~ 2013.03.06 2008.12.30 ~ 2012.06.30 2008.12.24 ~ 2013.11.26 2009.06.17 ~ 2014.11.18 2009.06.01 ~ 2015.07.30 2009.04.07 ~ 2014.04.25 2005.08.16 ~ 2012.12.31 2009.12.29 ~ 2012.12.28 2009.04.16 ~ 2012.04.15 2005.10.28 ~ 2010.04.30 2009.12.24 ~ 2014.09.28 2009.11.20 ~ 2015.03.19 2009.06.29 ~ 2013.09.28 2009.11.24 ~ 2013.06.23 2009.05.22 ~ 2013.05.21 2009.02.12 ~ 2014.08.11 2010.04.01 ~ 2013.03.31 2009.11.01 ~ 2011.09.23 2009.10.27 ~ 2011.12.15 2009.10.23 ~ 2011.12.31 2009.06.30 ~ 2011.12.31 2008.09.01 ~ 2010.12.20 2008.05.08 ~ 2012.03.07 2004.12.24 ~ 2009.12.30 38,820 31,302 25,006 2007 2008 2009 27
Architecture & Housing Business Architecture & Housing Business 28
SK E&C Annual Report 2009 11,897 11,449 9,796 2007 2008 2009 29
Architecture & Housing Business Architecture & Housing Business 30
SK E&C Annual Report 2009 35,412 2007.11 ~ 2010.08 2007.07 ~ 2009.12 2007.05 ~ 2009.12 2007.01 ~ 2009.12 2005.11 ~ 2010.09 2008.06 ~ 2012.09 2006.06 ~ 2008.12 2005.11 ~ 2008.12 2008.11 ~ 2009.09 2008.04 ~ 2009.07 2008.01 ~ 2009.12 2006.08 ~ 2009.09 2004.12 ~ 2010.07 22,656 18,910 2007 2008 2009 79,192 75,876 50,274 2007 2008 2009 31
Plants Business Petrochemical Plants Plant Business Petrochemical Plants 32
SK E&C Annual Report 2009 17,438 15,499 10,588 2007 2008 2009 33
Petrochemical Plants Plants Business Petrochemical Plants 34
SK E&C Annual Report 2009 2007.12.26 ~ 2009.03.10 2007.10.22 ~ 2008.12.31 2007.01.01 ~ 2008.12.31 2006.05.18 ~ 2008.12.31 2006.05.08 ~ 2008.12.31 2005.12.01 ~ 2008.12.31 2005.10.01 ~ 2008.11.30 2009.11.15 ~ 2014.02.14 2009.07.07 ~ 2012.06.30 2009.04.23 ~ 2012.06.07 2008.12.29 ~ 2011.10.31 41,308 53,695 2007.10.01 ~ 2009.10.31 2007.09.08 ~ 2009.04.30 2007.03.06 ~ 2010.08.29 2006.04.01 ~ 2008.09.30 2006.02.01 ~ 2009.03.31 2005.09.15 ~ 2008.12.31 2005.06.11 ~ 2009.03.31 28,606 2007 2008 2009 71,009 56,778 30,968 2007 2008 2009 35
Plant Business Energy & Power, Industrial Plants Plant Business Energy & Power, Industrial Plants 36
SK E&C Annual Report 2009 3,502 2,154 1,207 2007 2008 2009 37
Energy & Power, Industrial Plants Plant Business Energy & Power, Industrial Plants 38
SK E&C Annual Report 2009 2009.06 ~ 2013.12 2009.05 ~ 2011.12 2008.02 ~ 2010.05 2007.08 ~ 2009.01 5,113 813 3,543 2007.06 ~ 2009.07 2007.04 ~ 2014.09 2003.12 ~ 2009.03 2003.12 ~ 2006.07 2003.09 ~ 2011.12 1996.08 ~ 1999.09 1991.05 ~ 1993.01 2009.09 ~ 2009.11 2008.12 ~ 2010.08 2008.08 ~ 2010.05 2008.01 ~ 2010.12 2007.11 ~ 2009.11 2007.08 ~ 2010.07 2007.05 ~ 2008.04 2006.08 ~ 2007.10 2006.05 ~ 2009.02 2005.08 ~ 2006.10 2005.04 ~ 2007.07 2004.02 ~ 2005.01 1996.05 ~ 1999.05 1993.09 ~ 1996. 09 1993.04 ~ 1996. 04 2007 2008 2009 5,248 3,948 3,907 2007 2008 2009 39
Plant Business Ubiquitous Business Plant Business Ubiquitous Business 40
SK E&C Annual Report 2009 4,044 4,008 3,796 2007 2008 2009 41
Ubiquitous Business Plant Business Ubiquitous Business 42
2009.12.01 ~ 2010.07.30 2009.09.18 ~ 2010.07.19 2009.08.10 ~ 2009.12.04 2009.07.15 ~ 2010.05.30 2009.01.02 ~ 2009.10.31 2009.01.02 ~ 2009.05.31 2009.01.02 ~ 2010.02.28 2009.01.01 ~ 2009.12.31 2009.01.01 ~ 2009.12.31 2009.01.01 ~ 2009.12.31 2009.01.01 ~ 2009.12.31 2009.01.01 ~ 2009.12.31 2009.01.01 ~ 2009.12.31 2009.01.01 ~ 2009.12.31 2009.01.01 ~ 2010.12.30 2008.12.01 ~ 2010.02.28 SK E&C Annual Report 2009 4,698 3,708 3,937 2007 2008 2009 1,171 1,011 517 2007 2008 2009 43
Marketing & Development Business Marketing & Development Business 44
SK E&C Annual Report 2009 45
Financial Review 47 Business Report _ 47 _ 50 _ 51 _ 52 _ 53 _ 53 _ 53 _ 54 _ 56 _ 56 _ 56 _ 57 Audit Report _ 58 Financial Statements _ 58 _ 61 _ 63 _ 64 _ 65 _ 68 Audit Report _
Business Report SK E&C Annual Report 2009 47
Business Report Financial Review Business Report 48
SK E&C Annual Report 2009 49
Business Report Financial Review Business Report 50
SK E&C Annual Report 2009 51
Business Report Financial Review Business Report 52
SK E&C Annual Report 2009 53
Business Report Financial Review Business Report 54
SK E&C Annual Report 2009 55
Business Report Financial Review Business Report 56
Audit Report SK E&C Annual Report 2009 57
Financial Statements Financial Review Financial Statements 58
SK E&C Annual Report 2009 59
Financial Statements Business Overview Financial Statements 60
SK E&C Annual Report 2009 61
Financial Statements Business Overview Financial Statements 62
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Financial Statements Business Overview Financial Statements 64
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Financial Statements Business Overview Financial Statements 66
SK E&C Annual Report 2009 67
Audit Report Financial Review Audit Report 68
Company Milestone 1977 SK E&C Annual Report 2009 1980 1984 1985 1987 1988 1989 1991 1992 1993 1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 IR Members Kim, Jin Gon General Manager Tel. 82-2-3700-9094 Baek, Sang Eun Manager Tel. 82-2-3499-1275 Han, Jeong Hee Junior Manager Tel. 82-2-3700-8389 Ha, Seung Yong Junior Manager Tel. 82-2-3700-8529 69
Global Network Global Network KENUS SK SBC Eng'g center SK E&C Saudi Arabia AlOula SKEC SKEC THAI Irunex Thai Woo Ree HI VICO PT CAZ Thai Woo Ree<GV> Thai Woo Ree Engineering Company Limited, 23/3 Nongha Road, Tambon Huaypong, Amphur Muang Rayong, Rayong 21150, Thailand Tel. 66-38-606-234 Fax. 66-38-606-164~5 Irunex<GV> 23/6 soi sukhumvit 36 (soi napha-sap 2) Klongton Klongtoey Bangkok, Thailand Tel. 66-2-204-2278~9 PT.CAZ Konstruksi<GV> Komplek Rukan Tendean Square No.25, Jl. Wolter Monginsidi No. 122-124, Kebayoran Baru, Jakarta Selatan 12170, Indonesia Tel. 62-21-7278-7379 Fax. 62-21-7278-7468 Engineering Center 5TH Floor Vatika Tower B, Sector-54 Golf Link Road, Gurgaon, Haryana 122-009 Tel. 91-12-4423-9002~4 Fax. 91-12-4423-9001 <GV> QINGDAO SHINYOUNG ENGINEERS SO.LTD. #909 Zhong-Tian-Heng Plaza, No.8 Fu-Zhou-Nan Street, Shi-Nan District, Qingdao, P.R.China Tel. 86-532-8587-1865 Fax. 86-532-8597-1864 SK<GV> Shanxi SK Guolin Hi-Tech Road Material Co. Ltd. Dongfu#1, Baqiaozhenzheng Rd. Baqiao District, Xian City, Shanxi Province, China Tel. 86-29-8361-0791 Fax. 86-29-8361-0796 SKEC(Nanjing) Co.Ltd. No.2 Tian Ma Road, Ma Qun science and technology Zone, Qi Xia District, Nanjing,China(Zip code. 210049) Tel. 86-25-8470-1223 HIVICO<GV> 93B Vo Van Tan, Ward 6, Dist 3, Ho Chi Minh City, Vietnam Tel. 84-8-930-7076 Fax. 84-8-930-7075 KENUS<GV> 301 Tole bi Street, Auezovskiy district, Almaty city, Kazakhstan Tel. 7-7272-23-1578 Fax. 7-701-748-5531 SBC<GV> SBC General Trading & Contracting Co.Ltd Basement Floor, Bldg No.118, Block3. Street 1, Mangaf, Kuwait Tel. 965-2371-4076 / 2371-5209 Fax. 965-2371-5064 SK E&C Saudi Arabia Co., Ltd. 7th Fl, Sadat Tower, Golden Belt Area, Khobar-Dammam Highway PO Box 2017, Al-Khobar 31952, Saudi Arabia Tel. 966-3-887-2333 Ext. 622 Fax. 966-3-882-9780 AlOula SKEC Construction Co. 3500 Dharan Street - Al Akrabya Unit No.2 Al-Khobar 6303-34446 Kingdom of Saudi Arabia Tel. 966-3-893-6677 Ext.200 Fax. 966-3-894-2020 CreyMex<GV> CreyMex S.A. de C.V. Av. de Industria #509- C Altos Col. Monte Alto, Altamira, 89606 Tamps. Mexico Tel. 52-833-224-2527 Fax. 52-833-224-2552 BITUS<GV> BITUS PLC. 2nd Floor, Building 797, corner of Momivong Blvd & St 484, Sangkat Phsar Doeum Thkov, Khan Chamkarmon, Phnom Penh, Cambodia Tel. 855-23-990-380 Fax. 855-23-990-381 BETEK 2 Park Plaza, Suite No.1250 Irvine, CA 92614 Tel. 1-949-336-5100 Fax. 1-949-336-5107 Houston Technology Center 9800 Richmond Ave. STE.590, Houston, TX77042 Tel. 1-713-784-5154 Fax. 1-713-784-5150 Cal-Pac 1501 E. Orangethorpe Ave., Ste. 220 Fullerton, CA 92831 Tel. 1-714-449-9404 Fax. 1-714-449-9825
BETEK LA Cal Pac Houston Technology Center CreyMex Project Office Unit 2702, 27th Floor, Two Pacific Place,142 Sukhumvit Road, Klongtoey, Bangkok 10110, Thailand Tel. 66-2-254-7211~4 Fax. 66-2-254-7215 Bldg. #13, Street #12, Block #7, Abu Fatira, Mubarak Al Kabeer, Kuwait Tel. 965-543-4709 Fax. 965-543-4710 T.O.P.A.S 1, Mergenthaler Allee 77, 65760, Eschborn, Germany Tel. 49-(0)6196-470741~42 Fax. 49-(0)6196-470740 23rd Floor, SK Building. Jia No.6, Jianguomenwai Road, Chaoyang District, Beijing, China Tel. 86-10-5924-0861~3 Fax. 86-10-5928-0900 17 Kallang Junction #01-30 Singapore 339274 Tel. 65-6294-7177 Fax. 65-6294-7178 Unit 801, 8th Floor, Schmidt Tower, 239 Xuan Thuy Road, Cau Giay District, Hanoi.Vietnam Tel. 84-4-3768-9305~7 Fax. 84-4-3768-9308 P.O. BOX 3992, Lao Art Media Building, 2nd Floor 389 Nakhan T2 Road, Vientiane, Lao P.D.R. Tel. 856-21-213-695 Fax. 856-21-213-697 Suite 402, 6 floor, Khalifa Business Centre, 124 Turkmenbashi shayoli, Ashgabat,Turkmenistan, 744000 Tel. 993-12-45-08-01 Fax. 993-12-45-08-04 Abu Dhabi Branch, 3rd Floor, Door No. 303, Siddique Gift Building (Near K. M. Trading), Al Salam Street, Abu Dhabi, U.A.E. (P.O. Box 45828, Abu Dhabi, U.A.E.) Tel. 971-2-674-7227 Fax. 971-2-674-7228 P. O. Box 79800, Al-Khobar 31952 Nesma Building II, 3rd Floor Prince Majid Street/ 6th Crossing of Cornish Road Al-Khobar, Saudi Arabia Tel. 966-3-801-0000 Ext. 1535 Fax. 966-3-801-0192 Representative Office of SK Engineering & Construction Co., LTD in Doha, Office No. G-8, Al-Emadi Business Center C-Ring Road, Doha-Qatar Fax. 974-4657803 Al Fonoun Building, 1st September Street, Tripoli, LibyaRoad, Doha-Qatar Tel. 218-21-714-7117 LA 2 Park Plaza, Suite No.1250 Irvine, CA 92614 Tel. 1-949-336-5100 Fax. 1-949-336-5107 Sun life Plaza, West Tower Suite 2600 144 4th Avenue S.W Calgary, AB T2P 3N4 Tel. 1-403-514-8085 Fax. 1-403-716-3637 SK Engineering & Construction Co., Ltd. Paseo de la Reforma 404, Piso 3, Col. Juarez 06600 Mexico, D.F. Tel. 52-55-5241-1152 Fax. 521-55-5525-7536 Project Office Av. Amazonas E13-131 y Pasaje Guayas Edificio Ruminahui. Piso 11 Quito-Ecuador Tel. 593-2-245-7070 Fax. 593-2-245-7066
TEL 02-3700-7114 FAX 02-3700-8200