[Click eStock] "Seobu T&D to Continue Growth This Year Following Last Year"

IBK Investment & Securities analyzed on the 21st that Seobu T&D is expected to continue its structural growth this year following its record-high performance last year. No investment opinion or target price was provided.

Seobu T&D recorded sales of 169.2 billion KRW and an operating profit of 36.8 billion KRW last year, representing increases of 25% and 91.6% respectively compared to the previous year. Nam Sung-hyun, a researcher at IBK Investment & Securities, explained, "The record-high performance was contributed by the growth of the hotel division," adding, "It is significant because this was achieved despite the limited increase in the number of Chinese tourists entering the country."

IBK Investment & Securities expects Seobu T&D to continue its growth this year. He stated, "The performance growth of Seobu T&D is interpreted as a structural factor," and added, "The factors driving the hotel performance growth were the simultaneous effects of demand and supply, and the recovery of demand from Chinese tourists among foreign visitors to Korea has not yet fully materialized." He further noted, "This is because performance growth surpassed the high base set in 2022."