[Click eStock] "PNT, Operating Profit Expected to Surpass 100 Billion Won in 2023"

[Asia Economy Reporter Jang Hyowon] Shinhan Investment Corp. forecasted on the 29th that PNT's operating profit in 2023 will reach 100.6 billion KRW.

Shim Wonyong, a researcher at Shinhan Investment Corp., stated in a report on the same day, "PNT is expected to record sales of 145.1 billion KRW and operating profit of 25.5 billion KRW in the fourth quarter of this year, representing an increase of 11% and 89% respectively compared to the same period last year," adding, "Sales by segment are expected to be 101.6 billion KRW for secondary batteries and 22.4 billion KRW for materials."

Researcher Shim explained, "A large order for BlueOval is imminent. Although orders were expected in the second half of the year, postponement was inevitable due to the customer's funding and investment schedule issues. Since the customer secured investment funds through a paid-in capital increase in December, equipment orders for the 2024 facility operation and 2025 mass production plan are expected to become visible."

He analyzed, "BlueOval City has a total production capacity of 129 GWh, and the total expected order amount for electrode processes excluding mixing is estimated to be around 1.5 trillion KRW," adding, "Additionally, orders worth 162.5 billion KRW for China, securing global copper foil customers such as SK Nexilis, and the investment announcement of the SK On-Hyundai Motor North America joint factory will act as momentum."

Furthermore, he anticipated that as the operating rate of the 4th factory, scheduled for completion in the first half of next year, gradually increases, performance growth will accelerate. Accordingly, sales in the secondary battery and materials segments next year are expected to increase by 23% and 24% year-on-year to 399.2 billion KRW and 111.3 billion KRW, respectively.

He analyzed, "PNT's total sales next year will be 575 billion KRW, and operating profit will be 100.6 billion KRW, representing increases of 21% and 29% compared to the previous year," adding, "With the acceleration of new orders and sales recognition, this period could highlight the company's ability to achieve economies of scale demonstrated so far."