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-            .

 

 

 

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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.

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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.

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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.

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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.

 

Date: May 17, 2012