[Click eStock] "GS Global Levels Up with Offshore Wind Substructures"

DS Investment & Securities analyzed on the 10th that GS Global is expected to level up as an offshore wind power substructure provider.

Juwon Ahn, a researcher at DS Investment & Securities, stated in a report on the same day, "The offshore wind power business through its subsidiary GS Entec is growing," and explained, "In December last year, they secured a 200 billion KRW monopile (64 units) order for the domestic Yeonggwang Nakwol project, and it has been reflected in the performance since this year."

Researcher Ahn said, "With delivery scheduled for completion in September 2025, the manufacturing division's operating profit is expected to turn positive this year compared to the previous year, achieving an operating profit of 19.6 billion KRW," and added, "We estimate the company's consolidated operating profit for this year to be 79.3 billion KRW, and the profit share of GS Entec is expected to increase due to the effect of the Yeonggwang Nakwol project."

Researcher Ahn analyzed, "The GS Group is accelerating its eco-friendly management," and said, "First, GS Entec is not only securing orders for offshore wind power substructures domestically but is also pursuing orders in overseas markets, and is transitioning its business from the existing low-profit plant sector to offshore wind power."

He added, "GS Caltex is also expanding into the bio-technology field that produces eco-friendly products from biomass raw materials through bio processes," and "GS Construction has entered the battery recycling business through its subsidiary Energy Materials."

He continued, "GS EPS owns a biomass power plant using wood pellets (small wood granules) as raw materials and is achieving performance through electricity sales," and analyzed, "In this way, the entire group is adopting eco-friendliness as a new growth engine, and movements of change are appearing in each sector."