"Pasoo, Operating Profit Expected to Surge This Year"

Published 17 Apr.2022 23:50(KST)

[Asia Economy Reporter Hyungsoo Park] Hana Financial Investment forecasted on the 17th that Fasoo's operating profit will grow significantly this year. Fasoo is estimated to achieve sales of 54.2 billion KRW and an operating profit of 11.6 billion KRW this year, representing increases of 28.5% and 174.2% respectively compared to last year.

Kim Doohyun, a researcher at Hana Financial Investment, explained, "It is estimated that Fasoo achieved sales of 8.5 billion KRW and an operating loss of 300 million KRW in the first quarter of this year," adding, "This means it reached the break-even point (BEP)."

He continued, "The first quarter is Fasoo's off-season, and in the past three years from 2019 to 2021, the company recorded operating losses of 1.5 billion KRW, 1.9 billion KRW, and 1.8 billion KRW in the first quarter," emphasizing, "The BEP level in the first quarter of this year will serve as a starting point to verify the improved fundamental strength."

He analyzed, "Sales of DRM solutions for small and medium-sized enterprises and mid-sized companies, launched in January this year, are increasing," and "The number of DRM users at the overseas client, US-based Company G, is growing."

Researcher Kim added, "Orders for personal information de-identification solutions continue to expand," and "Based on Fasoo's expected performance this year, the price-to-earnings ratio (PER) is currently around 11 times."