[Alpha Biz= Reporter Paul Lee] Eugene Investment & Securities diagnosed IM on the 11th that it is expected to turn into a surplus as the first year of growth in the smart film business is in full swing and its entry into the new material business is positive. However, the investment opinion and target stock price were not presented.

"We expect the camera module business to continue stable supply due to the expansion of camera modules for foldable phones and OIS-applied products," said Eugene Investment & Securities Co. "The smart film business has touch sensor panels, transparent heating films and transparent antenna products, which account for less than 1% of sales last year, but we expect about 10 billion won in sales this year and grow to about 48 billion won in 2025."

Eugene Investment & Securities said, "IM's new material business is seeking to mass-produce composite copper foil films and high-end FCCL (Flexible Copper Clad Laminate) products for secondary battery cathode materials, and we are planning to introduce deposition equipment and plating equipment for business this year," adding, "Although sales will increase slightly compared to the previous year, we expect to improve profitability and expect full-fledged growth in 2025."

Eugene Investment & Securities expects IM's annual earnings to rise 10.7% year-on-year and its operating profit to turn into a surplus.

Specifically, in 2025, IM's sales and operating profit will increase by 41.0% and 586.7%, respectively, to 194 billion won and 8.4 billion won, respectively.

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