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SK Hynix y FY2013 Q2 Q Earnings g Results

July 25, 2013

Disclaimer

This material contains forward-looking statements which can be subject to certain risks and uncertainties that could cause actual results to differ materially. All financial information contained in this document is based on consolidated K-IFRS. K-IFRS Review of the FY 2013 Q2 financial results has not been finalized. Figures in this earnings release are subjected to changes during the independent auditing process.
All financial information provided here is revised according to the latest amendment of K-IFRS 1001.

FY2013 Q2 Earnings Results & Operational Performances

Results of Operation
(Unit: KRW Billion)

Q213 3,933 1,482 1,114 1,870 947 Basic Diluted Basic Diluted 1,363 1,342 695 713

QoQ +41% +94% +251% +72% +430%

Q113 2,781 763 317 1,089 179 257 257 694 694

Q212 2,632 478 5 772 -53 (77) (102) 694 710

YoY
+49% +210% +21,123% +142% turned to profit

Revenue Gross Profit (Loss) Operating Profit (Loss) EBITDA* Net Profit (Loss)

EPS (won) Shares Outstanding (million shares)

Gross Margin Operating Margin EBITDA Margin Net Margin

38% 28% 48% 24%

+11%p +17%p +9%p +18%p

27% 11% 39% 6%

18% 0% 29% -2% 2%

+20%p +28%p +20%p +26%p

* EBITDA = Operating Profit + Depreciation & Amortization Expenses

Sales Analysis
Record-high quarterly revenue as a result of favorable pricing environment and strong demand for all product segments including mobile PC DRAM price stayed strong on the back of supply shortages due to the suppliers product mix shift to non-PC DRAM, while non-PC DRAM prices stabilized as well NAND prices also remained stable due to healthy demand for mobile products such as eMMC and MCP QoQ ASP 16% QoQ - DRAM sales: bit shipment 20% QoQ, - NAND Flash sales: bit shipment 29% QoQ, ASP 5% QoQ

Revenue Mix by Product


Unit : KRW trillion

Product Mix by Application [DRAM]


PC Graphics Mobile bil 100% Server Consumer 100%

DRAM

NAND

Others

[NAND Flash]
USB & Card Non USB & Card Non-USB

Revenue G/R R 41%

3.93Tn
3% 24%

2.78Tn
4% 24%

50%

50%

73% 72%

mid- 60%

mid-80%

Q1 '13

Q2 '13

0% Q1 '13 Q2 '13 based on revenue

0% Q1 '13 Q2 '13 based on volume

MCP accounted for 15% of total revenue vs 12% in Q113

Profit Analysis
Record-high quarterly operating profits on the back of strong revenue growth and significant unit cost reduction from the continued shrink and yield improvements. Profitability improved for all product segments.
(+) factors : Price increase for both DRAM & NAND, Volume growth driven by the strong mobile product demand, Increased 2Xnm portion for non-PC DRAM products, Reversal of provisions related to Rambus case (-) factors : labor cost increase as a result of profit increase

Operating Profit & EBITDA


Unit : KRW Billion

Profit Margins
2012 Q1 Q2 Q3 Q4 Q1 2013 Q2

D&A Operating Profit

EBITDA G/R 72%

1,870
OP Margin
11% 2% 0% -11% -1%

28%

757

1,089

D&A G/R -2%

48%
39% 32% 32%

EBITDA Margin

772 1,114
Net Margin

24%

29%

24%
0% -11% -2% 6%

317 Q1 '13 Q2 '13

6%

Non-Operating Gain & Loss

(Unit : KRW Billion)

Q2 13 (101) (56) (29) 4 (20) 66

QoQ
+8 -1 +5 +0 +3 +37

Q1 13 (109) (55) (34) 4 (23) 30

Q212 (49) (55) (27) 0 32 9

YoY
-52 -1 -2 +4 -52 +57

Net Non-Operating Gain (Loss) Net Financial Gain (Loss) Net F/X Transaction & Translation Gain (Loss) Net Gain (Loss) on equity method investments Other Net Non Non-Operating Operating Gain (Loss) Income Tax Expense (Income)

Capital Structure

(Unit : KRW Billion)

Q2 13 20,275 2,435 9,118 6,253 11,158 3,491 4,439

QoQ +1,217 +507 +103 -120 120 +1,114 +3 +947 -7%p -10%p

Q1 13 19,058 1,928 9,015 6,373 10,044 3,488 3,492

Q4 12 18,649 1,785 8,909 6,472 9,739 3,488 3,313

vs. Q412 +1,627 +650 +208 -219 219 +1,148 +3 +1,125 -10%p -14%p

Asset Cash* Liability Debt** Debt Shareholders Equity Capital Stock Retained Earnings

Debt-to-Equity Ratio Net-Debt-to-Equity Ratio

56% 34%

63% 44%

66% 48%

* Cash = Cash & Cash Equivalents + Short-term Financial Instruments ** Debt = Short-term Borrowings + Current portion of Long-term Borrowings + Debentures + Convertible Bond + Long-term Borrowings

Cash Flows
(Unit : KRW Billion)

Q2 13 1,928 1,523 1,013 757 (247) (813) (768) (207) (207) 507 2,435

Q1 13 1,785 946 208 772 (35) (589) (497) (221) (221) 143 1,928

Q212 3,399 418 (44) ( ) 767 (305) (800) (734) (33) (35) (409) 2,990

Beginning cash* balance CF From Operating Activities: profits before tax Net p Depreciation and Amortization Changes in working capital, etc CF From Investing Activities: Acquisition of PP&E CF F From Fi Financing i A Activities: ti iti Debt** issuance, net of repayment Net increase (decrease) in Cash Ending cash balance

* Cash = Cash & Cash Equivalents + Short-term Financial Instruments ** Debt = Short-term Short term Borrowings + Current portion of Long-term Long term Borrowings + Debentures + Convertible Bond + Long-term Long term Borrowings

[Attachment1] Statement of Financial Position


K-IFRS (KRW Billion) Q2'13 Assets Current Assets Cash & Cash Equivalents* Accounts Receivables Inventories Non-Current Assets Property, plant & equipment Intangible Assets Total Assets Liabilities Interest-bearing Debts S-T Borrowings Current Portion of LT Borrowings Bonds/Convertible Bonds L-T Borrowings Accounts Payables Total Liabilities Shareholders' Equity Common Stock Total Shareholders' Equity 3,491 11,158 3,488 10,044 3,488 9,739 3 1,114 3 1,418 6,253 621 1,380 1,992 2,259 673 9,118 6,373 778 1,764 1,455 2,375 630 9,015 6,472 1,021 1,699 1,451 2,302 593 8,909 -120 -157 -384 537 -116 42 103 -219 -399 -319 541 -42 80 208 6,644 2,435 2,440 1,442 13,632 11,900 1,052 20,275 5,700 1,928 1,797 1,586 13,358 11,599 1,017 19,058 5,314 1,785 1,720 1,509 13,335 11,586 984 18,649 944 507 643 -144 273 301 34 1,217 1,330 650 720 -68 296 313 68 1,627 Q1'13 Q4'12 QoQ vs. Q4'12

* Short-term Financial Instruments included

[Attachment 2] Income Statement


K-IFRS (KRW Billion) Q2'13 Sales Cost of Goods Sold Gross Profit SG&A Expenses Operating Profit Financial Income(Expenses), Net F/X Transaction & Translation Income (Expense), Net Income (Expense) From Jointly Controlled Entities and Associates, Net Other Non-operating Income (Expense), Net Income Before Income Taxes Income Taxes (Benefit) Net Income
* The income statement is according to recent K-IFRS revision.

Q1'13 2,781 2,018 763 446 317 -55 -34 4 -23 208 30 179

Q2'12 2,632 2,154 478 472 5 -55 -27 0 32 -44 9 -53

QoQ 1,151 433 719 -78 797 -1 5 0 3 805 37 768

YoY 1,301 296 1,004 -104 1,108 -1 -2 4 -52 1,057 57 1,000

3,933 2,451 1,482 368 1,114 -56 -29 4 -20 1,013 66 947