[Click eStock] "Innocean, Strong Earnings Expected Despite Delayed Industry Recovery"

Hanwha Investment & Securities forecasted on the 21st that although the industry recovery for Innocean is delayed, its third-quarter earnings are expected to exceed consensus. They maintained a 'Buy' investment rating and a target price of 31,000 KRW.

Researcher Kim So-hye of Hanwha Investment & Securities stated, "Innocean's third-quarter gross profit is estimated at 236.3 billion KRW, and operating profit at 44.4 billion KRW, surpassing the operating profit consensus of 42.2 billion KRW."

Researcher Kim explained, "Despite no signs of industry recovery, the volume of major advertisers' agency orders was steadily executed, defending against the sluggish industry. It is estimated that the headquarters and overseas gross profits increased by 6.2% and 13.3% year-on-year, respectively."

He added, "Maintenance advertisements for volume car models were consistently carried out, and new orders for eco-friendly vehicles will also contribute to the performance. In particular, gross profit in the Americas region is expected to lead overseas growth, increasing by 18% year-on-year."