Form 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the Month of May, 2012

 

 

KOREA ELECTRIC POWER CORPORATION

(Translation of registrant’s name into English)

 

 

167 Samseongdong, Gangnam-gu, Seoul 135-791, Korea

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x            Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨            No  x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-            .

 

 

 


This Report of Foreign Private Issuer on Form 6-K is deemed filed for all purposes under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.


Korea Electric Power Corporation (“KEPCO”) hereby announces its unaudited estimated earnings results for the first three months ended March 31, 2011 and 2012 as attached hereto.

Disclaimer:

The financial information relating to the results of operations of KEPCO for the first three months of 2011 and 2012 as presented below (the “Information”) has been prepared by KEPCO based on preliminary internal estimates and in accordance with IFRS. The Information has neither been audited nor reviewed by KEPCO’s independent accountants, Deloitte Anjin LLC., or any other independent public accountants. The Information may differ significantly from the actual financial results of operations of KEPCO for the first three months of 2012, and accordingly should not be relied upon for investment, including but not limited to purchase of any securities, or for other purposes.

Korea Electric Power Corporation

PRELIMINARY CONSOLIDATED STATEMENTS OF OPERATIONS

(Neither audited or reviewed)

For the three months ended March 31, 2011 and 2012

 

(Unit : in billions of Korean Won)

   1Q 2012     1Q 2011     Change  

Operating revenues:

     13,303        10,800        23.2 %

Sale of electric power

     12,452        10,302        20.9 %

Other

     851        498        70.8 %

Cost of goods sold & selling and administrative expenses:

     13,619        11,468        18.8 %

Fuel

     6,930        5,945        16.6 %

Purchased power

     2,850        2,021        41.0 %

Depreciation

     1,574        1,441        9.2 %

Maintenance

     317        352        -10.0 %

Commissions

     190        179        6.4

Research and development

     110        101        9.2 %

Other

     1,647        1,429        15.3 %

Other revenues

     175        151        15.9 %

Other expenses

     22        27        -20.2 %

Other Income

     57        68        -16.4 %

Operating income (loss)

     (105     (476     77.9 %

Finance income:

     224        417        -46.1 %

Interest income

     41        33        25.0 %

Gain on foreign currency translation and transaction

     150        295        -49.3 %

Gain on financial derivatives

     26        72        -63.2 %

Other

     7        16        -58.7 %

Finance expenses:

     652        693        -6.0 %

Interest expense

     561        511        9.8 %

Loss on foreign currency translation and transaction

     16        31        -49.3 %

Loss on financial derivatives

     75        151        -50.3 %

Equity income (loss) of affiliates, net

     86        144        -40.1 %

Income (Loss) before income tax

     (447     (608     26.6 %

Income tax expenses (benefits)

     66        (64     n/m   

Net Income (loss)

     (513     (544     5.7 %

Net income (loss) attributable to:

      

Non-controlling interests

     25        6        n/m   

Owners of the company

     (538     (550     2.1 %

 

* The figures may not add up due to rounding.


Korea Electric Power Corporation

PRELIMINARY NON-CONSOLIDATED STATEMENTS OF OPERATIONS

(Neither audited or reviewed)

For the three months ended March 31, 2011 and 2012

 

(Unit : in billions of Korean Won)

   1Q 2012     1Q 2011     Change  

Operating revenues:

     13,259        10,735        23.5 %

Sale of electric power

     12,675        10,485        20.9 %

Other

     583        251        132.7 %

Cost of goods sold & selling and administrative expenses:

     15,462        12,290        25.8 %

Purchased power

     13,586        10,605        28.1 %

Other

     1,876        1,685        11.3 %

Other revenues

     134        124        8.4 %

Other expenses

     7        14        -46.0 %

Other Income

     38        34        12.8 %

Operating income (loss)

     (2,038     (1,411     -44.5 %

Finance income:

     1,036        888        16.7 %

Interest income

     17        22        -23.0 %

Dividend income

     929        714        30.2 %

Gain on foreign currency translation and transaction

     74        140        -47.1 %

Gain on financial derivatives

     16        11        37.7 %

Finance expenses:

     396        387        2.4 %

Interest expense

     383        346        10.8 %

Loss on foreign currency translation and transaction

     4        24        -82.8 %

Loss on financial derivatives

     9        18        -47.3 %

Income before tax

     (1,398     (910     -53.7 %

Tax expense

     (524     (325     -61.1 %

Net income

     (874     (584     -49.6
  

 

 

   

 

 

   

 

 

 

 

* The figures may not add up due to rounding.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

By:  

/s/ Kim, Jung In

Name: Kim, Jung In
Title: Vice President

Date: May 17, 2012