[Click eStock] "GreenPlus Accelerates New Business Expansion Amid Strong Earnings"

[Asia Economy Reporter Ji-hwan Park] IBK Investment & Securities forecasted on the 23rd that Greenplus will continue to show favorable performance in the fourth quarter. In particular, the analysis suggests a positive outlook on strengthening competitiveness through business diversification, such as promoting the new vertical farming business.

Kim Tae-hyun, a researcher at IBK Investment & Securities, stated, "Both consolidated sales and operating profit in the fourth quarter are expected to improve compared to the previous year," adding, "Sales and operating profit are estimated to increase by 9.5% and 16.3%, respectively, to 20.3 billion KRW and 1.9 billion KRW compared to the previous year."

With increased sales in domestic greenhouse construction, materials, and aluminum extrusion and processing, the operating loss of the subsidiary Green Pisa Farm is expected to significantly decrease due to the base effect, improving overall corporate profitability.

Furthermore, the promotion of the new vertical farming business and strengthening competitiveness in the smart farm market are also anticipated. On the 16th, Greenplus decided on a third-party allotment paid-in capital increase worth 15 billion KRW targeting SBI New Growth Support Private Equity Fund and others. The raised funds will be used to build an advanced vertical farm located in Dangjin, Chungnam. Construction is expected to start by the end of this year, with completion scheduled for July next year, after which it is projected to produce crops such as green onions worth approximately 15 billion KRW annually.

Researcher Kim Tae-hyun emphasized, "Although the company has focused on smart farm design and construction so far, from next year it will directly operate vertical farms, expanding its business scope to agricultural production and distribution," adding, "Competitiveness in the smart farm market is also expected to be further strengthened through vertical integration."

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