Neuros, Expected to Return to Profit This Year

Hana Financial Investment Report
"Exclusive Supply of Air Compressor for Hyundai Nexo Expected Until 2023"

[Asia Economy Reporter Hyungsoo Park] Hana Financial Investment forecasted on the 31st that NeuroS will turn its operating profit positive this year.

Founded in 2000, NeuroS is a manufacturer of turbo blowers and compressors. It holds core technologies such as air bearings and impellers developed through proprietary technology. Utilizing its original technology, the company has expanded its business areas from turbo blowers to the automotive, environmental energy, and aviation sectors.

Researcher Dohyun Kim of Hana Financial Investment explained, "NeuroS will exclusively supply air compressors for the Hyundai Nexo until 2023," adding, "This year, sales in the automotive sector are expected to reach 22.9 billion KRW, an increase of 101.3% compared to the previous year."

He continued, "Hyundai plans to mass-produce 100,000 units of the Nexo in 2023," and added, "Automotive sector sales are expected to achieve 77.8 billion KRW in 2023." Furthermore, he emphasized, "Currently, there are no competitors other than NeuroS for air compressors used in hydrogen fuel cell vehicles," and "Exclusive supply to Nexo is expected to continue until 2023."

NeuroS is estimated to achieve sales of 68.5 billion KRW and an operating profit of 7.6 billion KRW this year. Sales are expected to increase by 50.6% compared to the previous year, and operating profit is forecasted to turn positive.

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