WF FY 2022 Earnings Report — Woori Financial Group Inc. Revenue & Financial Results | Market Cap Arena

Woori Financial Group Inc.WF

FY 2022 Earnings

Reported April 21, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$11.7B	—	$8.4B	—	39.0%
Op. Income	$3.1B	—	$2.5B	—	23.3%
Gross Margin	60.7%	—	72.5%	—	-11.8pp
Net Margin	18.3%	—	20.3%	—	-2.0pp
EPS (Diluted)	$8.49	—	$7.05	—	20.4%
Free Cash Flow	$12.3B	—	-$1.4B	—	987.6%

Revenue Flow

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$4.6B
GROSS PROFIT	$7.1B
R&D Expenses	$0
Selling & Marketing	$145M
General & Administrative	$2.6B
SG&A Expenses	$2.8B
Other Expenses	$1.3B
Operating Expenses	$4.0B
Cost & Expenses	$8.7B
OPERATING INCOME	$3.1B
Interest Income	$9.9B
Interest Expense	$4.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.1B
Income Tax Expense	$796M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$627M
EBIT	$3.1B
EBITDA	$3.7B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$4.6B
GROSS PROFIT	$7.1B
R&D Expenses	$0
Selling & Marketing	$145M
General & Administrative	$2.6B
SG&A Expenses	$2.8B
Other Expenses	$1.3B
Operating Expenses	$4.0B
Cost & Expenses	$8.7B
OPERATING INCOME	$3.1B
Interest Income	$9.9B
Interest Expense	$4.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.1B
Income Tax Expense	$796M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$627M
EBIT	$3.1B
EBITDA	$3.7B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$2.2B
Depreciation & Amortization	$627M
Stock-Based Compensation	$0
Deferred Income Tax	$784M
Other Non-Cash Items	$817M
Change in Working Capital	$8.1B
OPERATING CASH FLOW	$12.6B
Capital Expenditure	-$235M
Acquisitions (Net)	-$489M
Purchases of Investments	-$29.3B
Sales/Maturities of Investments	$25.2B
Other Investing Activities	$110M
NET CASH FROM INVESTING	-$4.7B
Net Debt Issuance	$1.5B
Common Stock Repurchased	-$434M
Common Dividends Paid	-$504M
Other Financing Activities	$743M
NET CASH FROM FINANCING	$1.3B
FREE CASH FLOW	$12.3B
Net Change in Cash	$9.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$23.1B
Short-Term Investments	$22.3B
Net Receivables	$8.6B
Inventory	-$36.9B
Other Current Assets	$33.9B
TOTAL CURRENT ASSETS	$51.3B
PP&E (Net)	$3.9B
Goodwill	$268M
Intangible Assets	$846M
Long-Term Investments	$56.3B
Tax Assets	$74M
Other Non-Current Assets	-$74M
TOTAL NON-CURRENT ASSETS	$61.3B
TOTAL ASSETS	$324.3B
Account Payables	$4.1B
Short-Term Debt	$1.6B
Deferred Revenue	$237M
Other Current Liabilities	$229.6B
TOTAL CURRENT LIABILITIES	$238.7B
Long-Term Debt	$47.8B
Deferred Revenue NC	$237M
Deferred Tax Liabilities	$21M
Other Non-Current Liabilities	$16.0B
TOTAL NON-CURRENT LIABILITIES	$64.2B
TOTAL LIABILITIES	$303.0B
Common Stock	$2.5B
Additional Paid-In Capital	$461M
Retained Earnings	$16.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.6B
Other Equity	$465M
TOTAL STOCKHOLDERS' EQUITY	$19.4B
Minority Interest	$1.9B
TOTAL EQUITY	$21.3B
TOTAL LIABILITIES & EQUITY	$324.3B
Total Debt	$49.5B
Net Debt	$26.4B