Shinhan Investment lowered its target price by 32.9% from 82,000 won to 55,000 won on the 31st, saying that Kolmar BNH will post sluggish results this year, following the second quarter. The investment opinion remained 'buy'.
Shinhan Investment said, “The consolidated sales of Kolmar BNH in the second quarter were 146.5 billion won, down 16% from the same period last year, and operating profit was 23 billion won, down 35% during the same period. .
Shinhan Financial Investment explained, “The sales of health functional food in the second quarter were 84.5 billion won, down 10% from the same period of the previous year, and the cosmetics business also recorded 29.9 billion won in sales, down 18% during the same period.”
Sales in China also stood at 15.4 billion won, which is lower than the previous estimate. Shinhan Investment said, “The main reason is that Atomy has slightly lowered its China business plan for 2021,” and “It is estimated that Atomy lowered its sales target from 500 billion won to 400 billion won.”
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com