1. Hyundai Commercial Inc.
IR 자료(2014년 상반기)

2. Disclaimer
These presentation materials have been prepared by Hyundai Commercial Inc. (“HCI or the Company”), solely for the use at this presentation and haveThese presentation materials have been prepared by Hyundai Commercial Inc. (“HCI or the Company”), solely for the use at this presentation and have
not been independently verified. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the
accuracy, fairness or completeness of the information presented or contained in this presentation. Neither the Company nor any of its affiliates,
advisers or representatives accepts any responsibility whatsoever for any loss or damage arising from any information presented or contained in this
presentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice and
its accuracy is not guaranteed. Neither the Company nor any of its affiliates, advisers or representatives make any undertaking to update any such
information subsequent to the date hereof. This presentation should not be construed as legal, tax, investment or other advice.
Certain information and statements made in this presentation contain “forward-looking statements.” Such forward-looking statements can be
identified by the use of forward-looking terminology such as “anticipate,”“believe,”“considering,”“depends,”“estimate,”“expect,”“intend,”“plan,”
“planning,” “planned,” “project,” “trend,” and similar expressions. All forward-looking statements are the Company’s current expectation of future
events and are subject to a number of factors that could cause actual results to differ materially from those described in the forward-looking
statements. Caution should be taken with respect to such statements and you should not place undue reliance on any such forward-looking
statements.
Certain industry and market data in this presentation was obtained from various trade associations, and the Company have not verified such data withCertain industry and market data in this presentation was obtained from various trade associations, and the Company have not verified such data with
independent sources. Accordingly, the Company make no representations as to the accuracy or completeness of that data, and such data involves risks
and uncertainties and is subject to change based on various factors.
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3. 2012 2013 1H13 1H14 YoY
영업수익 3,467 3,462 1,735 1,701 -2.0%
손익계산서손익계산서손익계산서손익계산서 (단위 : 억원)
영업수익 소폭 하락, 그러나 수익기반 다변화
- 저금리 기조에 따른 대출금리 하락하였으나,
수익성수익성수익성수익성
Key HighlightsKey HighlightsKey HighlightsKey Highlights
영업비용 2,639 2,704 1,359 1,373 1.1%
대손상각비 216 251 129 153 18.5%
영업이익 828 769 376 328 -12.9%
당기순이익 436 366 201 157 -21.9%
ROAROAROAROA
고수익 자산인 리스 수익율 증가(56%↑)
- 취급액 증가로 성장 Fundamental 유지(18 %↑)
당기순이익 감소
- 영업수익 하락효과
- 지분법 평가손실 부담 감소
3
2.9% 3.0%
2.7%
2.4%
2011 2012 2013 1H14
* 신규취급 ROA
저성장, 저금리 장기화 대비 손익체력 강화
- 새로운 사업기획 발굴 및 역량 축적
- 비용 구조의 Rebalancing을 통한 효율화 추진
전망전망전망전망 및및및및 전략전략전략전략

4. 공작기계
5.9%
기업금융
12.4%
PF 2.7%
Auto 시장 지배적 지위 유지
- 서비스 기반 상품 Line-up 확대(리스, RV * 등)
- B2C에서 탈피, B2B 판매금융 강화
자산자산자산자산 및및및및 시장점유율시장점유율시장점유율시장점유율
Key HighlightsKey HighlightsKey HighlightsKey Highlights자산자산자산자산 포트폴리오포트폴리오포트폴리오포트폴리오
시장시장시장시장 점유율점유율점유율점유율
• 총 여신규모 : 3.8 조원
• Auto 비중 : 78.8%
신차
47.4%
중고차
31.4%
5.9% - B2C에서 탈피, B2B 판매금융 강화
사업포트폴리오 다변화
- Auto 이외 기업금융, 공작기계 등 지속 확대
안정적인 기업금융 취급 확대
- Captive 협력사 위주의 동반성장 대출 확대
- 부동산 PF 부실 Zero 유지
4
87.7% 91.0% 86.5% 84.8%
51.4% 52.5% 50.5% 56.0%
2011 2012 2013 1H14
중고차신차Captive
고수익 및 안정적 사업모델 지속 발굴
- 운용리스 확대, 렌탈 사업, 재고금융 등
* RV : Residual Value
전망전망전망전망 및및및및 전략전략전략전략

5. 30303030일일일일 이상이상이상이상 연체율연체율연체율연체율
0.8%
1.1%
0.8%
경쟁사 대비 탁월한 자산건전성
- 경기침체에도 불구 연체율 안정화 지속
자산건전성자산건전성자산건전성자산건전성 및및및및 충당금충당금충당금충당금
Key HighlightsKey HighlightsKey HighlightsKey Highlights
0.8%
0.7%
0.8%
2011 2012 2013 1H14
2011 2012 2013 1H14
충당금충당금충당금충당금 적립액적립액적립액적립액 (단위 : 억원)
보수적인 충당금 정책 지속
- 요적립액을 상회하는 적립율 지속 유지
5
2011 2012 2013 1H14
실적립액* 253 381 413 389
요적립 coverage** 102% 142% 137% 130%
* 대손충당금 + 대손준비금
** (대손충당금+ 대손준비금) / 요적립액
심사 기준 및 Collection 관리 강화로 우수한
자산건전성 지속 유지
전망전망전망전망 및및및및 전략전략전략전략

6. 10.9x
12.5x 11.7x
레버리지레버리지레버리지레버리지 (단위 : 억원)
총자산 / 총자본금총자본금 레버리지 이슈 조기 해소
- 신종자본증권 1,200억원 발행을 통한
‘
레버리지레버리지레버리지레버리지 및및및및 자본자본자본자본 적정성적정성적정성적정성
Key HighlightsKey HighlightsKey HighlightsKey Highlights
3,494 3,381 3,544
4,791
10.9x
9.4x
2011 2012 2013 1H2014
자본자본자본자본 적정성적정성적정성적정성
자본확충으로 중장기 성장기반 확보 (‘14.1H)
레버리지 규제 < 10배
6
레버리지 9배 내외 관리
조정자기자본비율 7% 이상 유지 (금감원 가이드라인)
* 신종자본증권 미반영
* 전망전망전망전망 및및및및 전략전략전략전략
14.0%
11.3% 11.0%
9.9%
2011 2012 2013 2014

7. Funding Portfolio by ProductFunding Portfolio by ProductFunding Portfolio by ProductFunding Portfolio by Product
Loans
CP
4.5%
ABS
4.7%
시장상황을 반영한 전략적 Funding
- 저금리 기조 활용 Bond 비중 지속 확대
차입차입차입차입
****
Key HighlightsKey HighlightsKey HighlightsKey Highlights
Bonds
85.1%
Loans
5.7% - 장단기 금리 축소에 따른 장기물 위주 조달
****
7
장기위주 회사채, 단기위주 CP의 적절한 Mix
고비용 Funding 지속 축소
장기비중 60%, ALM 130%이상 유지
* KOFC 제외 비중
전망전망전망전망 및및및및 전략전략전략전략
• 차입금 잔액 : 3.9 조원
• 장기차입금 비중 : 60.3%
• ALM 비율 : 128.7%

8. 41.0% 46.2% 48.6% 44.0%
유동성유동성유동성유동성 관리관리관리관리
Credit Line현금 단기 차입금 Coverage Ratio*
유동성 현황 (단위 : 억원)
안정적 유동성 관리
- 부채만기 장기화로 2년까지 흑자 현금흐름 유지
Key HighlightsKey HighlightsKey HighlightsKey Highlights
2,760 2,828 2,805 2,810
1,750
3,250 4,050 4,050
4,510
6,078
6,855 6,860
2011 2012 2013 1H14
* 단기 차입금 Coverage Ratio
= (현금 + 미사용 credit line)/ 1년 이하 만기도래 차입금 잔액
차입금차입금차입금차입금 만기만기만기만기 (단위 : 억원)
8
7,547 7,893
5,420
9,252 8,849
19.4%19.4%19.4%19.4% 20.3%20.3%20.3%20.3%
13.9%13.9%13.9%13.9%
23.7%23.7%23.7%23.7% 22.7%22.7%22.7%22.7%
2H14 1H15 2H15 2016 2017~
3개월 이상의 유동성 Coverage 정책 유지
Contingency Plan을 통한 안정적 유동성 관리
전망전망전망전망 및및및및 전략전략전략전략

9. [Appendix 3] Fact Sheet - HCI
(단위: 십 억원, %) 2008 2009 2010 2011 2012 2013 1H13 1H14
국산 상용차
내수판매
Total (unit) 20,152 19,795 21,479 18,842 15,620 14,851 8,389 7,387
HMG M/S 54.0% 60.1% 64.2% 65.8% 62.3% 70.2% 66.6% 75.5%
자산 구성
Total 1,050 1,439 2,333 2,882 3,254 3,503 3,509 3,829
자동차 관련 77.8% 86.4% 85.4% 82.1% 80.7% 77.5% 78.9% 78.8%자산 구성 자동차 관련 77.8% 86.4% 85.4% 82.1% 80.7% 77.5% 78.9% 78.8%
비자동차 22.2% 13.6% 14.6% 17.9% 19.3% 22.5% 21.1% 21.2%
자산건전성
요주의이하 1.2% 0.7% 0.9% 1.2% 1.5% 1.1% 1.0% 2.9%
NPL 1.2% 0.6% 0.6% 1.0% 1.0% 1.0% 1.0% 0.8%
30+ 연체율 2.1% 0.9% 1.0% 0.8% 1.1% 0.7% 0.7% 0.8%
NPL Coverage Ratio 140.8% 224.7% 172.5% 84.1% 114.8% 126.4% 129.4% 147.8%
수익성 영업이익 14.1 27.6 57.5 86.4 82.8 75.9 37.6 32.8
자본 & 조정자기자본 비율 7.8% 9.3% 10.1% 14.0% 11.3% 11.0% 10.5% 9.9%
레버리지 자산 레버리지 13.5X 15.0X 16.1X 10.9X 12.5X 11.6X 11.7X 9.4X
Total 998 1,481 2,477 3,026 3,464 3,663 3,689 3,896
차입금 구성
Total 998 1,481 2,477 3,026 3,464 3,663 3,689 3,896
사채/일반대 91.1% 80.9% 78.9% 83.5% 85.0% 90.2% 88.6% 90.8%
CP/전단채 8.9% 19.1% 13.0% 4.6% 6.1% 2.5% 2.8% 4.5%
ABS - - 8.1% 11.9% 8.9% 7.3% 8.6% 4.7%
단기차입 coverage 24.0% 13.8% 26.4% 41.0% 46.2% 48.6% 47.8% 44.0%
차입금 만기
ALM비율 93.2% 105.5% 132.3% 143.0% 129.5% 132.4% 131.7% 128.7%
자산만기 (Y) 1.33 1.30 1.28 1.27 1.28 1.27 1.30 1.35
부채만기 (Y) 1.24 1.37 1.69 1.79 1.66 1.69 1.73 1.74
9