[Infostock Daily= Reporter An Hoe Hyun] eBEST Investment & Securities evaluated Gamevil on the 21st that as 'Gamevil Professional Baseball 2020 Superstars Global' continues to perform at a meaningful level, it will be able to expect a full-fledged rebound in its quarterly performance in the fourth quarter of this year. Although the investment opinion was maintained with 'Buy', the target stock price was lowered to KRW 44,000, 8%(KRW 4,000) lower than before, reflecting the downward value of Com2uS's stake.
Gameville launched 'Gameville Professional Baseball 2020 Superstars Global' in August. The game has steadily posted a meaningful level of sales, with an average of more than 100 million won in daily sales from late August to the middle of last month and more than 50 million won since late last month.
"Considering the surge in one-off sales related to overseas subsidiaries in the second quarter, the downward stabilization of existing games in the third quarter, and the increase in marketing costs related to 'Professional Baseball 2020', profit reduction is inevitable compared to the previous quarter."
Gamevil's operating loss in the third quarter was 700 million won, down from a year earlier, but it is estimated to turn into a deficit compared to 1 billion won in operating profit recorded in the second quarter.
However, experts say that a full-fledged turnaround can be expected as the 'Professional Baseball 2020' effect is fully reflected from the fourth quarter.
Reporter An Hoe Hyun ahh@infostock.co.kr
