Пастаўшчык фабрыкі кранаў iVIGA
The takeover battle for Korea’s largest home furnishing company is heating up.
With the entry of Korean retail giant, Група LX, the takeover competition for HANSSEM Home is intensifying. Раней, Паўднёвакарэйскі універмаг Shinsegae, Hyundai Livart, даччыная кампанія Hyundai Department Store, and Korea’s Lotte announced their intention to acquire HANSSEM in conjunction with South Korean private equity firm IMM PrivateEquity (IMM), but with the addition of LXHausys, Кампанія будаўнічых матэрыялаў, якая належыць LX Group (Калісьці частка LG), адзін з лепшых у Карэі 50 карпаратыўныя групы, the takeover is expanding. The takeover camp is expanding.
If LX Hausys acquires HANSSEM, the number one company in the interior design and building materials industry, the landscape of the Korean building materials and interior design industry will be shaken up dramatically. The market share of the top players would be recalculated.
According to Korean media sources, LX Hausys held a board meeting on 6 September and announced that it would invest 300 мільярдаў вон (юаняў 1.7 мільярд) as a strategic investor in a private equity fund that IMM plans to set up to acquire HANSSEM. Аднак, канчатковая інвестыцыя яшчэ не пацверджана.
Лота, Shinsegae and Hyundai Department Store Group have already announced their plans to participate in the acquisition. LX Hausys is considered to have the most competitive advantage given the synergies with HANSSEM’s business.
With the recent divestment of LX Group from LG Group, its business scope has been expanded from traditional building materials to the whole house. Building materials account for approximately 70% Л. Х. Гаўсіса’ продажу, закрываючы вокны, дзверы, падлогавае пакрыццё, панэлі, artificial marble and more. The division recorded sales of KRW 659.6 billion in the second quarter of this year, уверх 25% з года ў год. LX Hausys займае самую вялікую долю рынку ў катэгорыі вокнаў для праектаў нерухомасці ў Карэі. It also has strength in high value-added product lines such as marble kitchen sinks and PF insulation.
HANSSEM has an overwhelming presence in the Korean retail market, having started with kitchen furniture in 1970 and then interior furniture in 1997, and has now expanded its business to include building materials such as bathrooms, вокны і падлогу. It is currently the number one market player in Korea in kitchen furniture and interior furniture. Яе асноўныя дылеры, quality shops and the number of shops are the most important reasons for attracting the acquirer.
Па паведамленнях карэйскіх СМІ, HANSSEM has showrooms and oversized experience centers in 15 key locations in the areas of Bangbae-dong, Сёчо-гу, Seoul, Nunhyeon-dong, Каннам-гу, Пангё-дон, Daegu and Hanam-si, Карэя. HANSSEM products are exclusively available at these locations, а таксама 550 online shops for re-house remodeling, 240 kitchen furniture shops and 80 flagship interior design shops.
HANSSEM employs 8,000 people specializing in remodeling and 2,500 in interior design sales. Продажы кампаніі ў мінулым годзе (267.5 трыльёнаў KRW) больш чым у чатыры разы ў параўнанні з мінулым годам (65 трыльёнаў KRW), the highest result since its founding. Свой інтэрнэт-канал, the HANSSEM Mall, які змяшчае інфармацыю аб наладцы новых дамоў, moving houses and children’s rooms, has seen positive sales growth since the first quarter of last year. У цяперашні час гэта прыцягвае 3 мільёнаў кліентаў у месяц.
У 2020, its B2C (remodeling and kitchens) division saw a 23% year-on-year increase in sales. З гэтага, Re-House, which offers total remodeling solutions, вырасла 33.3%. HANSSEM’s kitchen sales for second homes account for 27.5% of total sales by 2020. Together with the 30.6% of online and offline sales from the sale of furniture and home furnishings, the B2C business accounts for 69.1%.
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HANSSEM’s Revenue for FY2020 |
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| Асноўныя бухгалтарскія даныя | 2020 | 2019 |
| даход | 2,067,469 | 1,698,372 |
| Gross profit | 542,309 | 473,522 |
| Аперацыйны прыбытак | 93,107 | 55,772 |
| Даход да падаткаабкладання | 95,490 | 74,459 |
| Net profit growth | 66,841 | 42,715 |
| Рост агульных актываў | 1,229,510 | 1,202,638 |
| Increase in total liabilities | 600,608 | 589,339 |
| Агульная колькасць акцыянераў | 628,902 | 613,299 |
| ДОЎГІ | 5.3% | 3.6% |
| РОЭ | 10.4% | 7.0% |
| Total current ratio | 118.5% | 117.5% |
| Total debt ratio | 95.6% | 96.1% |
| Агульная сума запазычанняў і аблігацый да выплаты | 5.4% | 5.60% |
| Earnings per share Dividend per share | 3,766 | 2,423 |
| Compiled by Kitchen News from public data | 1,300 | 1,200 |
Kitchen and Bath Information based on public data
У другой чвэрці в 2021, sales and operating profit increased by 9.6% і 22.6% respectively compared to the previous year. Remodeling segment sales increased by 24.6 percent year on year.
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HANSSEM’s Performance in the First Half of 2021 |
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| Асноўныя бухгалтарскія дадзеныя | '20.2Q | '20,3 кв | '20,4 кв | ‘21.1Q | '21.2Q | Рост |
| Продажы | 5,190 | 5 037 | 5,521 | 5 531 | 5 687 | +9.6% |
| Operating Profit
Profit Before Tax |
226 | 237 | 296 | 252 | 277 | +22.6% |
| 4.3% | 4.7% | 5.4% | 4.6% | 4.9% | +0.6%стар | |
| Profit And Loss For The Period | 211 | 266 | 300 | 269 | 321 | +52.1% |
| 4.1% | 5.3% | 5.4% | 4.9% | 5.6% | +1.5%стар | |
| Рост
Remodelling |
145 | 190 | 203 | 196 | 243 | +67.6% |
| 2.8% | 3.8% | 3.7% | 3.6% | 4.3% | +1.5%стар | |
| дадому | 1,911 | 1,998 | 2,291 | 2,080 | 2,382 | +24.6% |
| B2b | 1,558 | 1,576 | 1758 | 1 902 | 1 671 | +7.0% |
| Other | 1,087 | 963 | 973 | 1,047 | 1,079 | -0.8% |
| Продажы | 634 | 500 | 499 | 502 | 555 | -12.4% |
Kitchen and Bath Information based on public data
Нягледзячы на рост у памерах, HANSSEM’s overseas subsidiaries have not been as successful. The sales growth rates of HANSSEM’s US and Chinese subsidiaries have also slowed down each year for the past three years. У мінулым годзе, sales of the two subsidiaries fell by 10.2% і 3.9% адпаведна, while the Chinese subsidiary experienced a double-digit decline. The decline continued in the first and second quarters of this year as well with negative growth of 17.3% і 45.7%.
HANSSEM was already present in China in the early 1990s when it established Beijing HANSSEM Home Products Co Ltd and invested in a cabinet manufacturing plant in Beijing in 1995. It undertakes engineering business and has joined forces with headline companies in the pan-home furnishing industry to develop some engineering projects.
It was found that the shareholder of Beijing HANSSEM Home Products Co Ltd, Гансэм (Кітай) Investment Co Ltd, had increased its registered capital in 2020, but this year Beijing HANSSEM Home Products Co Ltd had a succession of changes in legal representatives, рэжысёры, shareholders and other members in February.
It is worth noting that earlier this year there have been media reports that most of the Korean executives of HANSSEM stationed in China have been withdrawn one after another in late 2018 і рана 2019. Some of the Chinese employees of Chinese origin are looking for their next homes, and some have even already found their next homes. They are only awaiting the arrival of significant redundancy compensation.
Абвешчаная раней здзелка IMM па набыцці a 30.21% пакет акцый і правоў на кіраванне, як паведамляецца, каштуе 1.5 трлн вон (юаняў 8.3 мільярд).
IMM разгледзіць Lotte’s і LX Hausys’ investment and identify a partner as early as mid-September. У цяперашні час, Лота афіцыйна абвясціла, што так “разглядаючы ўдзел” і LX Hausys абвясціла, што будзе інвеставаць 300 billion KRW as a strategic investment. Following the completion of the acquisition of HANSSEM, IMM разлічвае ператварыць яго ў найбуйнейшага аператара на рынку жылых дамоў онлайн і афлайн.
