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    A015760   KR7015760002

KOREA ELECTRIC POWER CORPORATION

(A015760)
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Korea Electric Power : Financial Statements (Unaudited)

06/07/2021 | 01:41pm EDT

KOREA ELECTRIC POWER CORPORATION AND ITS SUBSIDIARIES

Consolidated Interim Financial Statements

For the three-month periods ended March 31, 2021 and 2020 (With Independent Auditor's Review Report Thereon)

KOREA ELECTRIC POWER CORPORATION AND ITS SUBSIDIARIES

INDEX TO FINANCIAL STATEMENTS

Page

Independent Auditor's Review Report

Consolidated Interim Statements of Financial Position

1

Consolidated Interim Statements of Comprehensive Income (Loss)

3

Consolidated Interim Statements of Changes in Equity

5

Consolidated Interim Statements of Cash Flows

7

Notes to the Consolidated Interim Financial Statements

9

Ernst & Young Han Young

Taeyoung Building, 111, Yeouigongwon-ro,

Yeongdeungpo-gu, Seoul 07241 Korea

Tel: +82 2 3787 6600

Fax: +82 2 783 5890 ey.com/kr

Independent Auditor's Review Report

Based on a report originally issued in Korean

The Shareholders and Board of Directors

Korea Electric Power Corporation:

Report on Review of Consolidated Interim Financial Statements

We have reviewed the accompanying consolidated interim financial statements of Korea Electric Power Corporation and its subsidiaries (collectively referred to as the "Group"), which comprise the consolidated interim statement of financial position as of March 31, 2021, and the related consolidated interim statements of comprehensive income (loss), consolidated interim statements of changes in equity and consolidated interim statements of cash flows for the three-month periods ended March 31, 2021 and 2020, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Consolidated Interim Financial Statements

Management is responsible for the preparation and presentation of these consolidated interim financial statements in accordance with Korean International Financial Reporting Standards ("KIFRS") 1034 'Interim Financial Reporting', and for such internal control as management determines is necessary to enable the preparation of interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Review Responsibility

Our responsibility is to issue a report on these consolidated interim financial statements based on our review. We conducted our review in accordance with the Review Standards for Quarterly and Semiannual Financial Statements established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with auditing standards generally accepted in the Republic of Korea ("KGAAS") and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial statements are not prepared, in all material respects, in accordance with KIFRS 1034 'Interim Financial Reporting'.

Other Matter

We have audited the consolidated statement of financial position as of December 31, 2020, and the related consolidated statement of comprehensive income (loss), consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended (not presented herein) in accordance with KGAAS, and our report dated March 10, 2021 expressed an unqualified opinion thereon. The accompanying consolidated statement of financial position as of December 31, 2020 presented for comparative purposes, is not different, in all material respects, from the above audited consolidated statement of financial position.

May 17, 2021

This review report is effective as of May 17, 2021, the independent auditor's review report date. Accordingly, certain material subsequent events or circumstances may have occurred during the period from the independent auditor's review report date to the time this review report is used. Such events and circumstances could significantly affect the accompanying consolidated interim financial statements and may result in modifications to this review report.

A member firm of Ernst & Young Global Limited

KOREA ELECTRIC POWER CORPORATION AND ITS SUBSIDIARIES Consolidated Interim Statements of Financial Position

As of March 31, 2021 (Unaudited) and December 31, 2020

In millions of won

March 31,

December 31,

Note

2021

2020

Assets

Current assets

Cash and cash equivalents

5,6,7,44

W

1,953,723

2,029,584

Current financial assets, net

5,6,9,11,12,13,44,46

4,026,679

2,800,220

Trade and other receivables, net

5,8,20,24,44,45,46

6,787,533

7,918,470

Inventories, net

14

6,742,397

6,742,909

Income tax receivables

43,442

49,675

Current non-financial assets

15

1,048,795

1,020,158

Assets held-for-sale

16,41

1

925

Total current assets

20,602,570

20,561,941

Non-current assets

Non-current financial assets, net

5,6,9,10,11,12,13,44,46

2,656,751

2,472,821

Non-current trade and other receivables, net

5,8,20,44,45,46

1,903,563

1,861,569

Property, plant and equipment, net

18,24,27,48

168,506,982

168,709,387

Investment properties, net

19,27

223,382

225,195

Goodwill

16

98,166

98,166

Intangible assets other than goodwill, net

21,27,45

1,049,797

1,055,730

Investments in associates

4,17

4,599,395

4,250,787

Investments in joint ventures

4,17

2,072,351

1,919,746

Defined benefit assets, net

25

922

7,231

Deferred tax assets

1,736,081

1,733,146

Non-currentnon-financial assets

15

266,625

246,392

Total non-current assets

183,114,015

182,580,170

Total Assets

4

W

203,716,585

203,142,111

(Continued)

1 1

KOREA ELECTRIC POWER CORPORATION AND ITS SUBSIDIARIES Consolidated Interim Statements of Financial Position, Continued

As of March 31, 2021 (Unaudited) and December 31, 2020

March 31,

December 31,

In millions of won

Note

2021

2020

Liabilities

Current liabilities

Trade and other payables, net

5,22,24,44,46

W

6,715,003

6,256,521

Current financial liabilities, net

5,12,23,44,46

11,778,187

10,724,689

Income tax payables

587,115

476,898

Current non-financial liabilities

20,28,29

6,299,088

5,971,450

Current provisions

26,44

2,692,072

2,451,664

Total current liabilities

28,071,465

25,881,222

Non-current liabilities

Non-current trade and other payables, net

5,22,24,44,46

6,455,316

6,480,412

Non-current financial liabilities, net

5,12,23,44,46

58,037,831

59,365,011

Non-currentnon-financial liabilities

28,29

9,786,361

9,661,941

Employee benefits liabilities, net

25,44

1,890,584

1,910,860

Deferred tax liabilities

9,076,152

9,100,247

Non-current provisions

26,44

20,185,877

20,075,572

Total non-current liabilities

105,432,121

106,594,043

Total Liabilities

4

W

133,503,586

132,475,265

Equity

Contributed capital

1,30,44

Share capital

W

3,209,820

3,209,820

Share premium

843,758

843,758

4,053,578

4,053,578

Retained earnings

31

Legal reserves

1,604,910

1,604,910

Voluntary reserves

33,282,816

32,179,066

Unappropriated retained earnings

15,616,196

17,349,625

50,503,922

51,133,601

Other components of equity

33

Other capital surplus

1,223,716

1,224,105

Accumulated other comprehensive loss

(255,408)

(409,577)

Other equity

13,294,973

13,294,973

14,263,281

14,109,501

Equity attributable to owners of

the controlling company

68,820,781

69,296,680

Non-controlling interests

16,32

1,392,218

1,370,166

Total Equity

W

70,212,999

70,666,846

Total Liabilities and Equity

W

203,716,585

203,142,111

The accompanying notes are an integral part of the consolidated interim financial statements.

2 2

Disclaimer

KEPCO - Korea Electric Power Corporation published this content on 07 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2021 17:40:04 UTC.


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Financials
Sales 2021 58 808 B 51,1 B 51,1 B
Net income 2021 -887 B -0,77 B -0,77 B
Net Debt 2021 69 285 B 60,2 B 60,2 B
P/E ratio 2021 -22,2x
Yield 2021 1,50%
Capitalization 16 306 B 14 173 M 14 170 M
EV / Sales 2021 1,46x
EV / Sales 2022 1,44x
Nbr of Employees -
Free-Float 48,4%
Chart KOREA ELECTRIC POWER CORPORATION
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Korea Electric Power Corporation Technical Analysis Chart | A015760 | KR7015760002 | MarketScreener
Technical analysis trends KOREA ELECTRIC POWER CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 25 400,00 KRW
Average target price 28 333,33 KRW
Spread / Average Target 11,5%
EPS Revisions
Managers and Directors
Seung-il Cheong President, Chief Executive Officer & Director
Jeong-soo Kim Head of Finance & IR Team
Jwa-Kwan Kim Independent Director
Hyo-Seong Park Independent Director
Hyeon-Bin Lee Director & Head-Management Support
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