IBK Investment & Securities analyzed on the 5th that SoluM will complete its performance adjustment this year and show full-scale growth starting next year.
Geonjae Lee, a researcher at IBK Investment & Securities, stated in a report on the same day, “The decline in performance that began in the fourth quarter of last year appears to be entering its final stage,” and explained, “The performance decline was caused by the postponement of major client projects and increased maritime logistics costs due to the Houthi rebels active in the Suez Canal. However, with the resumption of ESL business by major clients, new project orders are expected, which could increase investor interest.”
Researcher Lee added, “Although this year has been disappointing compared to the performance growth shown last year, the lowered base means that the results in 2025 will be even more remarkable,” and said, “As changes in offline distribution channels become a necessity rather than a choice, the application of more advanced ESL is becoming an essential condition for improving management efficiency.”
He forecasted, “The company already has a proven track record of competitiveness in the global ESL market and is preparing additional development of technology ahead of trends, so it is expected to show meaningful results in the upcoming large-scale client bidding.”
He continued, “The business model the company possesses is expected to ensure future growth and is suitable for the recently highlighted value-up programs, so market interest is anticipated to increase.”
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