[Click eStock] "Hanssem Expected to Maintain Stable Growth This Year"

[Asia Economy Reporter Song Hwajeong] SK Securities maintained its 'Buy' rating and target price of 150,000 KRW for Hanssem on the 16th, expecting stable growth to continue this year as well.

Shin Seo-jeong, a researcher at SK Securities, stated, "Hanssem's investment points are largely twofold: securing market share amid the growth of the interior market and the expectation of transformation into a furniture platform company amid the growth of the online furniture market." She analyzed, "Hanssem Mall demonstrated high growth last year, and a high growth rate is expected this year as well due to the online expansion strategy." Hanssem Mall's transaction volume ratio increased by 15 percentage points compared to the same period last year, with dwell time (seconds) increasing by 66.7% and average spending per customer rising by 15.8%.

Hanssem's first-quarter performance this year is expected to meet consensus. SK Securities estimated Hanssem's first-quarter sales at 544.3 billion KRW and operating profit at 23.5 billion KRW, representing increases of 10.5% and 37%, respectively, compared to the same period last year. As of February this year, the overall furniture sales growth rate recorded 10% year-on-year. Online and mobile furniture sales growth rates were 21.5% and 28.3%, respectively, surpassing the overall market growth rate. Researcher Shin said, "Despite the usual impact of the Lunar New Year holidays and the seasonal off-season in the first quarter, stable growth continues," adding, "Stable performance is expected this year as well, making this year one that proves last year's growth was not a one-time issue caused by COVID-19."

This content was produced with the assistance of AI translation services.