[Click eStock] "IntellianTech, Expecting Growth in Land Antenna Sales"

On the 26th, Eugene Investment & Securities analyzed that Intellian Technologies will continue its performance improvement trend this year due to increased sales of land-based antennas. The investment opinion 'Buy' and the target price of 61,000 KRW were maintained.

Eugene Investment & Securities forecasted that Intellian Technologies' sales in the first quarter of this year will increase by 17% year-on-year to 57.4 billion KRW, but it will continue to post an operating loss of 7.7 billion KRW. Researcher Jeong Eui-hoon stated, "Sales of maritime antennas in the first quarter are expected to slightly decrease compared to the same period last year due to continued sluggishness in the VSAT market," adding, "Sales of land-based antennas are expected to increase year-on-year, supported by the effect of the gateway orders secured in September last year." He added, "However, due to the off-season impact on sales and fixed cost burdens, operating losses are expected to continue."

He emphasized, "Since the inauguration of U.S. President Donald Trump earlier this year, amid ongoing tensions between the U.S. and Europe, the European Union (EU) is accelerating the establishment of a low Earth orbit satellite communication system within Europe to reduce dependence on the U.S. satellite communication service Starlink." He continued, "Demand for Eutelsat's OneWeb service, an alternative to Starlink, is expected, which is also anticipated to lead to increased antenna demand."

In particular, he predicted continuous growth in land-based antenna sales. He explained, "Due to the rapid growth in land-based antenna sales last year, the current order backlog for OneWeb antennas and U.S. gateway orders is understood to fall short of this year's expected sales, so additional orders are also expected this year."

He emphasized, "In maritime communication services, the proportion of using not only low Earth orbit satellite communication but also existing geostationary orbit communication in parallel is increasing," adding, "With the decline in maritime antenna sales stabilizing and the expansion of land-based antenna sales, the performance improvement trend is expected to continue this year."

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