Yuanta Securities forecasted on the 13th that Greenplus's overseas business segment sales will grow significantly.
Greenplus is the No. 1 smart farm specialist company in Korea. It holds the largest smart farm construction record domestically. It has also expanded overseas to countries such as Australia, Thailand, and the Middle East. Through its subsidiaries, it is engaged in eel farming and crop cultivation businesses such as strawberries.
Son Hyun-jung, a researcher at Yuanta Securities, explained, "Since the second half of last year, smart farm orders have continued, so we expect performance improvement this year," adding, "Domestic smart farm demand will increase following the government's advanced agriculture promotion policies."
He continued, "We expect to enter the Australian market in earnest from the first half of this year," and "Overseas orders will also expand." He added, "The smart farm order backlog last year was 31 billion KRW," and "Considering the lead time of 3 to 7 months, about 30 billion KRW in sales will be reflected in the first half of this year."
Researcher Son said, "In the second half of the year, we expect orders related to overseas expansion in the Middle East and Thailand," and "We estimate sales of 98 billion KRW and operating profit of 8.7 billion KRW this year."
He emphasized, "The aluminum business division is expanding its customer base through recent contracts to supply aluminum materials for North American electric vehicles and storage tanks in Saudi Arabia." Additionally, he analyzed, "Demand for aluminum materials for electric vehicle lightweighting is increasing," and "With new contracts for electric vehicles, we expect an annual sales increase of 5 billion to 10 billion KRW over the next five years."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
