[Click eStock] "Igloo, Valuation Expected to Rise Due to Export Growth"

FS Research analyzed on the 1st that Igloo is expected to see a valuation increase due to export growth. No investment opinion or target price was provided.

Igloo is a company established in November 199, providing security services and solutions. Security monitoring services account for 77% of its sales, which is its main business. It performs cyber security tasks for internet and communication networks required by corporations or government agencies.

Hwang Se-hwan, a researcher at FS Research, said, "On the 5th of last month, the Igloo consortium announced that it won the project to build the Kyrgyzstan National Integrated Cyber Safety Center," adding, "Igloo has previously carried out government agency monitoring services and security system construction in Myanmar, Indonesia, Ethiopia, and other countries, and has accumulated numerous references over time, so future overseas sales growth can be expected."

He continued, "If exports actually increase, it will be recognized that operations, which were previously limited to domestic markets, can extend overseas, potentially granting growth potential to the stock price."

FS Research forecasted that Igloo's sales and operating profit this year will increase by 10.2% and 32.5% year-on-year to 113.5 billion KRW and 10.6 billion KRW, respectively. He said, "As sales of security AI solutions increase, overall profitability will improve," and "with some contribution from overseas sales, sales growth is expected to be driven."

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