[Alpha Biz= Reporter Paul Lee] SK Securities said on November 11 that it expects record sales in the first quarter due to strong overseas filler sales. As a result, the target price was raised from 48,000 won to 56,000 won and the investment opinion was maintained.
SK Securities said, "Individual sales in the first quarter are estimated to be 41 billion won, up 13.5% from the same period last year, and operating profit is estimated to be 10.1 billion won, up 9.0%."
"As filler production is normalized, domestic and overseas filler sales will increase significantly," SK Securities said. "In particular, sales of overseas fillers are estimated to reach 8.2 billion won, the highest level ever, as they continue to make inroads into new regions."
"The Humedix' operating profit ratio is expected to fall slightly to 24.8% despite record-high sales," SK Securities said. "The increase in R & D costs has also been resolved after the second quarter, and the operating profit ratio is expected to increase to the bottom of the first quarter."
On the other hand, this year's performance is expected to continue its record high in every quarter. The researcher said, "The record-high performance will continue every quarter starting in the first quarter as significant sales growth is being detected in newly advanced countries such as Southeast Asia, the Middle East and Russia, as well as Brazil and China."
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
