EchoMarketing, Exchange shares with Andar...Securing growth engines(Hana Financial Investment)

[Infostock Daily= Reporter An Hoe Hyun] Hana Financial Investment said on the 12th that EchoMarketing has secured new growth engines through equity exchange with Andar. As a result, the investment opinion remained 'Buy' and the target stock price remained at 35,000 won.

EchoMarketing's sales and operating profit in the fourth quarter of last year, expected by Hana Financial Investment, was 41.1 billion won and 14 billion won, up 58% and 78% year-on-year, respectively. "It is expected to decrease compared to the previous quarter due to the upgrade of the COVID-19 social distancing to 2.5 stage and sales booster products concentrated in the second and third quarters," the company said, evaluating that Ohora and Mongze have been sluggish due to the seasonal off-season.

However, the company explained that overseas sales due to the expansion of D2C channels are growing high, and if logistics is normalized due to the recovery of COVID-19, additional significant growth can be expected.

EchoMarketing's operating profit(sales) and operating profit are expected to reach 190.2 billion won and 68.1 billion won this year, up 7.9% and 12%, respectively, from last year.

"This time, it announced the exchange of shares with Andar, which will be an important partner not only in Korea but also in the global leap," the company predicted.

Reporter An Hoe Hyun ahh@infostock.co.kr