[Click e-Stock] "Daeyang Electric Achieves Significant First-Quarter Performance Improvement"

On May 16, IBK Investment & Securities stated that Daeyang Electric achieved a significant strong performance in the first quarter of this year. The target price was raised from 29,000 won to 33,000 won.

In the first quarter of this year, Daeyang Electric recorded sales of 55.6 billion won and operating profit of 5.7 billion won. Compared to the same period last year, these figures increased by 34.4% and 140.2%, respectively.

Lee Geonjae, a researcher at IBK Investment & Securities, explained, "This is the highest first-quarter performance since the company was listed," adding, "The growth in sales from the defense and sensor divisions was particularly notable."

He continued, "The defense division recorded 20.7 billion won, up 79.4% year-on-year," and added, "The sensor and other divisions posted 14.1 billion won, a 71.5% increase compared to the same period last year."

Lee analyzed, "The operating margin reached 10.3%, marking the highest first-quarter margin since 2017," and added, "The company has continued to improve both sales and profitability since the fourth quarter of last year." He further emphasized, "The strong performance of the sensor division is a key factor," and "Demand for the ESC pressure sensors produced and sold by the company continues to grow, as there are only a limited number of global competitors."