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[Alpha Biz=(Chicago) Reporter Paul Lee] Shinhan Investment & Securities analyzed on the 28th that Kolmar Korea is actively responding to mid- to low-priced brand orders in Korea in the first quarter. In the meantime, we maintained our target stock price of 77,000 won and investment opinion 'buy'. Kolmar Korea's closing price for the previous trading day was 45,850 won.
Kolmar Korea posted consolidated sales of KRW 551.7 billion in the fourth quarter of last year, up 15% from the previous year, and operating profit of KRW 37.8 billion, up 336% from a year earlier. Considering 3.5 billion won, which is an excess of performance-based allowance, it seems to be a good performance that meets market expectations.
By corporation, Korea grew 31%, China 18%, North America 10%, Yeonwoo 19%, and HK inno.N 4% year-on-year, leading the company's growth. In terms of operating profit, the Korean subsidiary recorded 18.8 billion won and HK Innoen recorded 21.6 billion won.
Kolmar Korea is expected to see significant growth in the first quarter of this year, led by Korean corporations.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
