코스맥스 본사 전경. (사진=코스맥스)

 

[Alpha Biz=(Chicago) Reporter Paul Lee] Hanwha Securities predicted that Cosmax will exceed KRW 500 billion in sales in the first quarter.

the fourth quarter of 2023 were 436.7 billion won and operating profit was 22.5 billion won, falling below consensus operating profit of 32.9 billion won," Hanwha Securities said. "Despite the slow recovery in Chinese consumption, sales of all corporations grew year-on-year due to the continued upward trend in exports of Korean customers to Japan, strong domestic sales due to the influx of travelers to Korea, and the effects of the year-end shopping season in the U.S. and Southeast Asia."

Sales in the first and fourth quarters are expected to exceed 500 billion won for the first time since its establishment.

"Cosmax's consolidated sales in the first quarter rose 24.2% year-on-year to 501 billion won, and its quarterly sales are expected to exceed 500 billion won for the first time since its establishment," Hanwha Securities said. "The increase in exports to Japan will drive growth."

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