Hyundai Motor Securities analyzed on the 11th that Kolmar Korea's profitability is improving faster than expected.
It is predicted that stock prices will continue to rise as sales recover due to the recovery of the domestic manufacturer development production (ODM) industry. Maintaining 'buy' investment opinion, the target price was 70,000 won, up 7.6% from the previous 65,000 won.
"Kolmar Korea's second-quarter performance is expected to fall slightly below the consensus," Hyundai Motor Securities said. "Its operating profit ratio in Korea's cosmetics sector, which accounts for 81.9 percent of sales of its main business (ODM), is improving compared to the previous quarter.".
"China's corporation, which accounts for 6.6% of its main business sales, is recording rapid growth among overseas subsidiaries," Hyundai Motor Securities added. "HKN, a consolidated subsidiary in the pharmaceutical business, is scheduled to be listed in the third quarter of this year.".
Kolmar Korea's performance in the second quarter is expected to record consolidated sales of KRW 404.8 billion and operating profit of KRW 29.9 billion. It is estimated that Kolmar Korea will record 178.7 billion won in sales and 18.1 billion won in operating profit.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
