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[Alpha Biz=(Chicago) Reporter Paul Lee] SK Securities lowered Netmarble (251270)'s investment opinion from "buy" to "neutral" on the 24th, saying its operating profit in the fourth quarter of last year is expected to fall below market expectations and there is not much room for a rise in stock prices in the short term. Netmarble's market closing price is 57,100 won, up 2.88% from the previous trading day.
According to SK Securities, Netmarble is estimated to have made 5.8 billion won in operating profit in the fourth quarter of last year. Although it has been out of the red for seven consecutive quarters, it is not up to market level. Nam Hyo-ji, a researcher at SK Securities, said, "Sales are expected to increase only 5.6% QoQ due to a drop in existing game sales."
"Although there are relatively many new releases, it is not easy to improve the profit margin due to the increase in payment fees due to the lack of box office success and the small number of new works based on its own intellectual property (IP)," SK Securities said. "Due to the impact of the loan, the financial burden is significant, and it is also necessary to improve the financial structure."
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
