[Click eStock] "Genians Achieves 19 Consecutive Years of Profit"

On the 21st, Eugene Investment & Securities reported that Genieons achieved its highest-ever sales in the fourth quarter of last year and recorded profits for the 19th consecutive year.

Jongseon Park, a researcher at Eugene Investment & Securities, stated in a report on the same day, "The annual provisional results show sales of 42.9 billion KRW and operating profit of 6.5 billion KRW, with sales increasing by 11.5% compared to the previous year, achieving a record high." He added, "The positive aspect of last year's performance is not only achieving the highest-ever sales but also successfully maintaining operating profit in the black for 19 consecutive years."

Researcher Park said, "We expect 2024 to be the first year of a quantum jump due to government policies and the full-scale global expansion in the first quarter." He forecasted, "Expected results are sales of 10.9 billion KRW and operating profit of 1.5 billion KRW, representing increases of 19.8% and 11.3% respectively compared to the same period last year."

He also noted, "In 2024, benefits are expected from the government's cybersecurity mother fund, expansion policies for next-generation security solutions such as ZTNA (Zero Trust Network Access), and the company's global business turnaround and quantum jump first year, which is positive." He analyzed, "The current stock price is trading at a price-to-earnings ratio (PER) of 17.1 times based on 2024 earnings, discounted compared to the domestic and international industry average PER of 30.3 times."