Aurora World, Valuation Undervalued... Positive Growth Trend

[Asia Economy Reporter Jang Hyowon] The Korea IR Council Corporate Research Center published a report on the global character content company Aurora World on the 8th.

Park Sunyoung, a researcher at the Korea IR Council Corporate Research Center, stated, "Aurora World is expanding its business into character licensing and merchandising areas, and the demand in the character licensing market, which was temporarily contracted due to COVID-19, is expected to increase again," adding, "Attention should be paid to the high sales growth centered on Aurora World's overseas subsidiaries."

Researcher Park explained, "Based on this year's expected performance, Aurora World has a PER of 8.8 times and a PBR of 0.7 times, which is a relatively undervalued range compared to the average valuation of domestic and international peer companies," and added, "Considering the asset value of high-quality tangible assets and investment real estate, a valuation reassessment is necessary."

Additionally, Aurora World's expected performance for this year was estimated at KRW 204.3 billion in sales and KRW 12.6 billion in operating profit, representing growth of 14.7% and 19.1% respectively compared to the previous year. Overseas sales subsidiaries, which quickly recovered during the COVID-19 situation and returned to growth from the second quarter of last year, are expected to continue growing.

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