[Click eStock] "SWY, Annual Operating Profit Expected to Turn Positive... Full-Scale Start of Earnings Growth"

[Asia Economy Reporter Ji-hwan Park] Hana Financial Investment forecasted on the 29th that SY's annual operating profit will reach 21.2 billion KRW, successfully turning to a profit compared to the previous year, marking the beginning of significant performance growth.

Researcher Jae-ho Choi of Hana Financial Investment predicted, "SY's sales this year will increase by 26.3% compared to the same period last year, reaching 391.8 billion KRW, and operating profit will turn to a profit at 21.2 billion KRW." The main reasons for the performance improvement include new and replacement demand growth for G/W panels following the December revision of the Building Act, an increase in the average unit price of panels due to the addition of semi-noncombustible performance, and product mix improvement due to the expansion of high value-added product proportions.

Researcher Choi added, "With the completion of restructuring of the deficit business units SY Chemical and SY Coating this year, a net profit of more than 4 billion KRW will be added annually, contributing to profitability improvement."

This year, sandwich panel sales are expected to increase by 18.6% compared to the previous year to 186.5 billion KRW, with operating profit turning to a profit at 11.9 billion KRW. In particular, sales of G/W panels are projected to grow by 53.0% to 81.5 billion KRW, and operating profit is expected to increase by 89.5% to 6.3 billion KRW, leading external growth.

From next year, the growth in performance is expected to accelerate further. Sales in 2022 are forecasted to increase by 12.4% to 440.3 billion KRW, and operating profit is expected to grow by 33.2% to 28.2 billion KRW, marking the start of full-scale performance growth. Researcher Choi evaluated, "This year is a perfect turnaround year," adding, "Only better performance lies ahead."