[Click eStock] "VT, Full-Scale Expansion of Lead Shot This Year... Target Price Up"

Hana Securities analyzed on the 2nd that VT's Ridleshot expansion will be in full swing this year. The investment opinion was maintained as 'Buy,' and the target price was raised to 30,000 KRW.

Hana Securities expects VT to record consolidated sales of 105.5 billion KRW and operating profit of 21 billion KRW in the first quarter. This represents increases of 120% and 3,289% respectively compared to the same period last year.

Park Eun-jung, a researcher at Hana Securities, explained, "The profit from the cosmetics division is expected to be 16.5 billion KRW, a 962% increase compared to the same period last year, exceeding market expectations," adding, "With continued strong performance in Japan, surging domestic demand, and increased purchase amounts from Korean tourists, the highest quarterly performance is anticipated."

By division, first-quarter sales and operating profit for cosmetics are expected to be 66 billion KRW and 16.5 billion KRW, up 153% and 962% respectively compared to the same period last year. He explained, "Strong demand for Ridleshot is expected to continue not only in Japan but also domestically, with cosmetics sales more than doubling compared to the same period last year." He added, "The laminating division is expected to record sales of 9.2 billion KRW and operating profit of 0.5 billion KRW, with a continued trend of turning profitable."

Hana Securities forecasted that VT's sales and operating profit for this year will increase by 46% and 97% respectively to 430 billion KRW and 89.6 billion KRW compared to the previous year. He emphasized, "2024 will be the full-scale expansion period of Ridleshot domestically and in other regions following Japan," adding, "With expanded entry into drugstores, increased tourist demand, and expansion into other countries, the growth momentum will be the strongest."