[Alpha Biz=(Chicago) Reporter Paul Lee] DB Financial Investment predicted on the 28th that Wonik Materials will improve its profitability thanks to the recovery of the business this year. The company maintained its investment opinion 'buy' and raised its target price from 34,000 won to 35,000 won.
Wonik Materials' sales in the fourth quarter of last year were 92.1 billion won and operating profit was 6.9 billion won. Compared to the same period last year, it decreased by 52% and 71%, respectively, but it increased by 22% and 71% compared to the previous quarter. The market forecast was also out of the question.
Sales and operating profit in the first quarter of this year were estimated at 96.3 billion won and 10.6 billion won, up 5% and 53% from the previous quarter, respectively.
DB Financial Investment said, "This year, we will gradually recover the memory business, increase the proportion of relatively profitable special gas sales, and operating profit will increase 123% year-on-year to 55 billion won."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
