[Click eStock] "Abko Expects to Re-enter 100 Billion KRW Annual Sales with Expansion of Public Project Orders"

The Korea IR Association analyzed on the 28th that Abko is expected to achieve annual total sales in the range of 100 billion KRW this year due to the implementation of projects by the Seoul and Gyeonggi Provincial Offices of Education.

Abko is the number one gaming device company in Korea. Last year, the sales revenue distribution by business segment was 53% gaming gear, 41.6% public projects, and 5.4% small home appliances. In particular, Abko holds a majority market share by supplying the industry’s top share of charging storage cabinets, which it was the first in Korea to launch, to education offices through public projects.

Researcher Lee Saerom of the Korea IR Association stated, "With the implementation of the 'Green Smart School' project by the Seoul and Gyeonggi Provincial Offices of Education, Abko is expected to benefit significantly from increased orders of charging storage cabinets," adding, "New orders in public education where charging storage cabinets have not yet been distributed, replacement demand, and expanded sales in the private education market will combine to become a cash cow."

She especially anticipated benefits from the 'Green Smart School' plan, part of the Korean New Deal announced by the government in 2020. The Green Smart School plan aims to transform aging schools nationwide into advanced schools based on digital and eco-friendly infrastructure. Since there is a need for updating and charging smart devices used by students, Abko’s sales of charging storage cabinets are also expected to increase.

The researcher explained, “Abko’s charging storage cabinet ‘PadBank’ positively influences its unique reference base due to safety, functionality, and after-sales service (AS) available through 20 branches nationwide,” and added, “In particular, from this year, bidding for charging storage cabinets by the Seoul and Gyeonggi Provincial Offices of Education, where the population is concentrated, is being actively conducted, so public project sales are expected to reach 42 billion KRW.”

She continued, “While growth in the gaming gear segment is limited, the expansion of public project sales will allow the annual total sales to exceed 100 billion KRW again.”