[Infostock Daily= Reporter An Hoe Hyun] On the 30th, Eugene Investment & Securities maintained its investment opinion of Buy and target stock price of 125,000 won for Daelim Industrial, saying that its sales in the third quarter of this year were somewhat sluggish, but operating profit was in line with the consensus.
Daelim Industrial's consolidated sales in the third quarter were 2.2219 trillion won and operating profit was 249.6 billion won, up 2.7% and 11.9%, respectively, from a year earlier. Controlling shareholders' net profit rose 27.0% to 23.7 billion won.
"Although overseas sales declined and domestic housing sales were somewhat sluggish due to the impact of COVID-19 and prolonged sluggish orders, the company's consolidated sales increased due to the integration of its subsidiary 'Cariflex' and Korea Development," the company explained, adding, "The profitability of the housing sector was 20%, similar to the previous quarter, and the cost ratio in all construction and petrochemical sectors stabilized and operating profit was in line with the consensus."
In the fourth quarter, it is expected to be affected by the profit from the sale of the Seoul Forest office in Seongdong-gu, Seoul, and its growth strategy after the split. "We estimate 3.528 trillion won in sales and 328.8 billion won in operating profit in the fourth quarter," the company said, adding, "The sale of the Seoul Forest office will reflect 561.6 billion won in sales and 127.1 billion won in operating profit."
Reporter An Hoe Hyun ahh@infostock.co.kr
