[Click eStock] "Yongpyeong Resort Enters Growth Phase in Both Sales and Operations"

DS Investment & Securities analyzed on the 28th that Yongpyong Resort has entered a growth phase in both sales and operations.

Jodaehyung, a researcher at DS Investment & Securities, stated in a report on the same day, “Yongpyong Resort showed that it has entered a full-scale performance recovery phase with Q1 sales of 56 billion KRW and operating profit of 10 billion KRW,” adding, “In particular, despite sales from pre-sales being only around 9.1 billion KRW, operating sales recorded 46.8 billion KRW, demonstrating performance growth due to the normalization of room sales after the endemic.”

He continued, “The quarterly variance in operating sales is also shrinking through business diversification such as golf leisure and vacation,” and explained, “This year, with stable operating sales combined with pre-sales revenue, record-breaking performance is expected.”

He projected Yongpyong Resort’s sales and operating profit for this year to be 377.5 billion KRW and 50.5 billion KRW, respectively, representing increases of 78.4% and 136.1% compared to the previous year.

He analyzed, “Due to sales recognition from Lusongchae pre-sales, about 220 billion KRW in pre-sales revenue is expected in 2024,” and added, “Even excluding the Lusongchae pre-sales revenue expected to be recognized in 2024, subsequent pre-sales such as Antineu and Dirocus are expected to continuously add about 1.2 trillion KRW in pre-sales revenue through 2030.”

He also anticipated, “Synergies with the two golf courses acquired in Japan last year are expected, and with the recovery of group lodging demand, operating sales will also normalize.”