[Click eStock] Aniplus Continues High-Flying Performance This Year Following Record-Breaking Results Last Year

[Asia Economy Reporter Kwon Jae-hee] Yuanta Securities issued a Not rated investment opinion on Aniplus on the 3rd. However, following last year's record-high performance and this year

Aniplus recorded its highest-ever performance last year with sales of 49 billion KRW and operating profit of 13 billion KRW.

By segment, content accounted for 22.3 billion KRW, exhibitions and dramas 23.3 billion KRW, and merchandise 3.5 billion KRW, showing balanced growth across all business divisions.

The main factors driving performance growth include ▲content sales growth due to the expansion of domestic and international online video service (OTT) markets ▲hit dramas produced by WEMADE ▲successful Media & Art exhibitions.

Aniplus's performance this year is expected to reach sales of 70.9 billion KRW and operating profit of 18.9 billion KRW. This year, continued growth in animation sales driven by the expansion of domestic and overseas OTT markets, normalization of exhibition operations due to the full implementation of With Corona, and high growth in performance through an increase in total drama production are anticipated. Additionally, based on the expected 2023 performance, the price-to-earnings ratio (PER) is about 9 times, highlighting the stock's attractiveness, so valuation rerating is expected to accompany future performance growth.

Researcher Heo Seon-jae of Yuanta Securities stated, "Aniplus has successfully transformed from a simple animation distributor to a comprehensive content company starting this year," and "This year, based on its cash holdings, it will aggressively pursue mergers and acquisitions (M&A) and continue steep performance growth."

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