KOSPI Operating Profit Forecast Down 3% in a Month... Samsung Electronics Down 10%

On the 14th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 2316.41, down 12.20 points (0.52%) from the previous session. The won-dollar exchange rate started at 1306.5 won, down 0.4 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji Yeon-jin] This year, the earnings outlook for KOSPI-listed companies is being revised downward. This is due to the sustained high exchange rate with the Korean won exceeding 1,300 won, consumption contraction caused by inflation, and increased financing costs due to interest rate hikes, all of which are expected to hamper corporate earnings.

According to FnGuide, a financial information company, as of the 15th, the annual operating profit consensus estimate for 212 KOSPI-listed companies with earnings forecasts from three or more securities firms was 228.3055 trillion won. This represents a 3.4% decrease compared to the operating profit estimate of 236.2983 trillion won from a month ago.

The net profit estimate for this year also decreased by 3.3% over the past month to 176.5061 trillion won. The sales estimate increased by 0.5% to 2,547.2867 trillion won. Looking at individual companies, operating profit estimates for 106 companies, half of the analyzed group (including those with expanding losses or turning to losses), declined compared to a month ago. Meanwhile, 85 companies (40.1%) saw their estimates increase over the same period. Due to the economic downturn, IT demand slowdown, and memory price drops, the earnings outlook for the two major semiconductor companies leading the domestic stock market has been significantly lowered.

Samsung Electronics' operating profit forecast for this year was revised down 10.0%, from 63.0504 trillion won a month ago to 56.726 trillion won. SK Hynix's operating profit forecast also fell 12.0%, from 16.6064 trillion won to 14.6068 trillion won. LG Display's operating profit forecast dropped 75.7% (from 873.6 billion won to 212.7 billion won) due to IT demand slowdown, and HYBE's forecast was lowered by 20.2% (from 334.5 billion won to 267.1 billion won) following the suspension of BTS group activities.

Other companies with significant downward revisions include Hyosung Chemical (52.2%↓), KEPCO Engineering & Construction (39.1%↓), Daehan Petrochemical (20.8%↓), and Netmarble (16.7%↓). By industry, the securities sector's operating profit forecast dropped 5.8% compared to a month ago due to decreased trading volume and bond valuation losses, while the shipbuilding sector's loss forecast widened due to rising steel plate prices, labor costs, and risks stemming from Russia.

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