Hyosung Heavy Industries expects a turnaround this year... Maintain the target price of 85,000 won (Daeshin Securities)
Hyosung Heavy Industries expects a turnaround this year... Maintain the target price of 85,000 won (Daeshin Securities)
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  • 승인 2021.05.21 09:44
  • 최종수정 2021.05.21 09:39
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효성중공업CI. (제공: 효성중공업)
효성중공업CI. (제공: 효성중공업)

Daishin Securities expected Hyosung Heavy Industries to turn around this year due to restructuring last year on the 21st. In addition, Hyosung Heavy Industries is expected to highlight increased exports of power devices, data centers and wind power from the second half of the year. As a result, the investment opinion 'buy' and target price remained at 85,000 won.

Hyosung Heavy Industries'sales in the first quarter of this year fell 8% year-on-year to 583.2 billion won and operating profit turned to 17.5 billion won. This is less than 11% and 30% of sales and operating profit, respectively, compared to the market outlook (Consensus).

By sector, heavy industries saw their sales fall 15 percent to 326.3 billion won, while operating profit reached 1.9 billion won, up from 76.6 billion won in operating losses last year. The construction sector saw its sales and operating profit fall 27 percent on-year to 256.9 billion won and 102 percent to 15.7 billion won, respectively.

Hyosung Group said on the 14th that it will step up efforts to foster new growth engine businesses such as data centers to overcome the crisis in heavy industries due to the worsening global external environment.

Daishin Securities expects Hyosung Heavy Industries'sales and operating profit to rise 4% year-on-year to 3.92.5 trillion won and 130.3 billion won, up 196%.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com 
 


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