[Click eStock] "Hanssem, Growth in All Business Divisions... 'Earnings Surprise'"

[Asia Economy Reporter Park Ji-hwan] Ebest Investment & Securities evaluated that Hanssem recorded an earnings surprise with growth in all business sectors on the 9th. No separate investment opinion or target price was presented for Hanssem.

Researcher Kim Se-ryeon of Ebest Investment & Securities stated, "Hanssem's 2nd quarter sales amounted to 517.2 billion KRW, a 25.9% increase compared to the same period last year, and operating profit was 23 billion KRW, up 172.3%."

The core business sectors, remodeling and kitchen divisions, achieved high sales growth due to an increase in apartment transaction volume in the first half of the year. Additionally, the explosive growth of the interior and furniture sectors, led by Hanssem Mall, amid the COVID-19 pandemic is cited as the background for this strong performance.

In the 3rd quarter as well, high growth in the Rehouse division is expected to continue, and due to the prolonged COVID-19 situation, increased personal interest in interior design and housing costs is anticipated to sustain clear growth in the interior and furniture sectors in the second half of the year.

It is particularly evaluated that Hanssem possesses all three factors expected to drive current stock price performance.

Researcher Kim Se-ryeon explained, "The background of growth includes structural growth through providing total solutions via Rehouse in the remodeling market, increased remodeling demand due to strong apartment transaction volume in the first half and expanded government reconstruction regulations, and changed consumer patterns for furniture due to COVID-19."