New Risk • Apr 03
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩60b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩60b free cash flow). Earnings have declined by 57% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩143.9b market cap, or US$95.2m). Announcement • Mar 12
Tailim Packaging Co., Ltd., Annual General Meeting, Mar 27, 2026 Tailim Packaging Co., Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 74, gongdan 1-daero 379beonan-gil, gyeonggi-do, siheung South Korea New Risk • Aug 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩138.4b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.6% operating cash flow to total debt). Earnings have declined by 41% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩138.4b market cap, or US$98.7m). Announcement • Mar 01
Tailim Packaging Co., Ltd., Annual General Meeting, Mar 28, 2025 Tailim Packaging Co., Ltd., Annual General Meeting, Mar 28, 2025, at 09:01 Tokyo Standard Time. Location: auditorium, 74, gongdan 1-daero 379beonan-gil, gyeonggi-do, siheung South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 11 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.8%). Reported Earnings • Nov 20
Third quarter 2024 earnings released: ₩117 loss per share (vs ₩36.00 profit in 3Q 2023) Third quarter 2024 results: ₩117 loss per share (down from ₩36.00 profit in 3Q 2023). Revenue: ₩179.5b (flat on 3Q 2023). Net loss: ₩8.08b (down 429% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. New Risk • Oct 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.7b (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 16% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩137.7b market cap, or US$99.0m). New Risk • May 25
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 9x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.05% net profit margin). New Risk • Mar 19
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.7% Last year net profit margin: 2.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.7% per year over the past 5 years. Minor Risks High level of debt (46% net debt to equity). Dividend is not well covered by cash flows (dividend per share is over 14x cash flows per share). Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (0.7% net profit margin). Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩73.00 (vs ₩253 in FY 2022) Full year 2023 results: EPS: ₩73.00 (down from ₩253 in FY 2022). Revenue: ₩719.6b (down 8.2% from FY 2022). Net income: ₩5.04b (down 71% from FY 2022). Profit margin: 0.7% (down from 2.2% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩3,340, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 14x in the Packaging industry in South Korea. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩3,210, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 13x in the Packaging industry in South Korea. Total loss to shareholders of 41% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 27 March 2024. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.6%). New Risk • Nov 23
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Earnings have declined by 7.1% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: ₩253 (vs ₩247 in FY 2021) Full year 2022 results: EPS: ₩253 (up from ₩247 in FY 2021). Revenue: ₩784.0b (up 10.0% from FY 2021). Net income: ₩17.4b (up 2.6% from FY 2021). Profit margin: 2.2% (down from 2.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 03 April 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (1.5%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 16% share price gain to ₩3,080, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 11x in the Packaging industry in South Korea. Total loss to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩2,450, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 11x in the Packaging industry in South Korea. Total loss to shareholders of 53% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Mar 06
Tailim Packaging Co., Ltd., Annual General Meeting, Mar 26, 2021 Tailim Packaging Co., Ltd., Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 24
New 90-day low: ₩5,150 The company is down 10.0% from its price of ₩5,750 on 26 November 2020. The South Korean market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 32% over the same period. Valuation Update With 7 Day Price Move • Nov 19
Market bids up stock over the past week After last week's 18% share price gain to ₩5,890, the stock is trading at a trailing P/E ratio of 41.8x, up from the previous P/E ratio of 35.4x. This compares to an average P/E of 14x in the Packaging industry in South Korea. Total returns to shareholders over the past three years are 197%. Is New 90 Day High Low • Nov 16
New 90-day high: ₩5,430 The company is up 63% from its price of ₩3,325 on 18 August 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 16% over the same period. Valuation Update With 7 Day Price Move • Oct 19
Market bids up stock over the past week After last week's 18% share price gain to ₩5,170, the stock is trading at a trailing P/E ratio of 36.7x, up from the previous P/E ratio of 31x. This compares to an average P/E of 14x in the Packaging industry in South Korea. Total returns to shareholders over the past three years are 189%. Is New 90 Day High Low • Oct 15
New 90-day high: ₩4,915 The company is up 41% from its price of ₩3,490 on 17 July 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 15% over the same period. Upcoming Dividend • Sep 21
Upcoming Dividend of ₩290 Per Share Will be paid on the 25th of October to those who are registered shareholders by the 28th of September. The trailing yield of 6.3% is in the top quartile of South Korean dividend payers (2.8%), and it is higher than industry peers (2.6%). Announcement • Sep 21
Tailim Packaging Co., Ltd.(KOSE:A011280) dropped from S&P Global BMI Index Tailim Packaging Co., Ltd.(KOSE:A011280) dropped from S&P Global BMI Index Is New 90 Day High Low • Sep 19
New 90-day high: ₩4,870 The company is up 37% from its price of ₩3,545 on 19 June 2020. The South Korean market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 13% over the same period. Announcement • Aug 28
Tailim Paper Co., Ltd acquired 58.85% stake in Tailim Packaging Co., Ltd. (KOSE:A011280) from Sae-A Investment Co., Ltd for approximately KRW 180 billion. Tailim Paper Co., Ltd entered into an agreement to acquire 58.85% stake in Tailim Packaging Co., Ltd. (KOSE:A011280) from Sae-A Investment Co., Ltd. for approximately KRW 180 billion on January 28, 2020. Under the terms, Tailim Paper Co., Ltd acquired 48.7 million shares in Tailim Packaging Co., Ltd.
Tailim Paper Co., Ltd completed the acquisition of additional 58.85% stake in Tailim Packaging Co., Ltd. (KOSE:A011280) from Sae-A Investment Co., Ltd. on January 31, 2020.