[Click eStock] "Daelim Industrial, Q4 Earnings Exceed Market Expectations"

[Asia Economy Reporter Park Jihwan] NH Investment & Securities maintained its 'Buy' rating and target price of 131,000 KRW for Daelim Industrial on the 31st, stating that "the consolidated earnings for the fourth quarter of last year exceeded consensus."

Lee Minjae, a researcher at NH Investment & Securities, explained, "The sales for the fourth quarter of last year increased by 0.3% year-on-year to 2.7 trillion KRW, and operating profit surged by 108.6% to 347.7 billion KRW," adding, "This exceeded both consensus and our estimates."

Improvements in the cost ratio of the housing sector due to the recognition of sales based on the handover of Chuncheon Hansup City, one-time reversals of 70 billion KRW from projects such as S-Oil and Bukpyeong Power Plant, and effects such as 8.7 billion KRW from the consolidation of Korea Development in December were observed.

Daelim Industrial's order guidance for this year is 10.9 trillion KRW, broken down by sector as housing 5.8 trillion KRW, civil engineering 900 billion KRW, plant 1.5 trillion KRW, Samho 1.4 trillion KRW, and Korea Development 1.3 trillion KRW.

Researcher Lee Minjae stated, "The sales target for 2020 was set at 22,000 units, an increase of 1,000 units compared to last year," and explained, "Major project sites include Incheon Cheongcheon 2 District (5,190 units, May), Anyang Deokhyeon District redevelopment (1,443 units, August), Incheon Yeongjong 3rd e-Pyeonhansesang (1,426 units, September), and Geoje 2 District (1,341 units, October)."

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