Mando overcomes semiconductor supply crisis ... Target price 95,000 won (Daeshin Securities)
Mando overcomes semiconductor supply crisis ... Target price 95,000 won (Daeshin Securities)
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  • 승인 2021.05.03 13:16
  • 최종수정 2021.05.03 13:03
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만도 CI. (제공: 만도)
만도 CI. (제공: 만도)

Daishin Securities maintained its investment opinion on Mando as 'Buy' and the target price at 95,000 won.

"Mando's consolidated sales in the first quarter rose 191.5 percent from last year to 1.5 trillion won and operating profit rose 53.4% to 71.9 billion won," Daishin Securities said. "It exceeded the market consensus by 13%. The company's active cost-cutting activities since the second half of last year have contributed greatly to the improvement of profitability."

Successful restructuring has reduced global workforce by 4% (460 people), and the proportion of fixed costs to sales in the first quarter has decreased by 2.9%.

On top of that, the company succeeded in winning a large-scale order for the Volkswagen suspension worth 2.9 trillion won, and the full-fledged order for the Integrated Dynamic Brake (IDB) also added momentum to its performance improvement.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com  


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