[Click e-Stock] "Intellian Technologies Expected to Return to Profitability in Q2"

On June 25, Hanwha Investment & Securities predicted that Intellian Technologies would return to profitability in the second quarter of this year.

The firm estimated that Intellian Technologies would achieve sales of 77.2 billion KRW and an operating profit of 1.3 billion KRW in the second quarter of this year. Compared to the same period last year, sales are expected to increase by 7.7%, and operating profit is expected to turn positive.

Bae Sungjo, a researcher at Hanwha Investment & Securities, stated, "The company recorded operating losses for three consecutive quarters starting from the third quarter of last year," and added, "We expect a return to profitability starting in the second quarter of this year."

He continued, "We estimate that maritime sales in the second quarter will reach 37.7 billion KRW," and explained, "The maritime segment has underperformed over the past year due to Starlink's entry into the maritime low Earth orbit satellite communication market." He further stated, "To prevent service interruptions for end users and to supplement low Earth orbit satellite communications, we expect the continued use of traditional parabolic antennas alongside new solutions," emphasizing expectations for a recovery in maritime sales from the second quarter onward.

Bae also projected, "Flat panel antennas for OneWeb's maritime business received type approval (TA) last March, so we expect sales to begin in earnest from the second and third quarters."

He analyzed, "Second-quarter terrestrial sales are expected to reach 36.7 billion KRW, a 38.2% increase from the same period last year," and added, "As Eutelsat OneWeb has received service supply approval in major regions including Korea, flat panel antenna inventories are likely to be depleted rapidly." He continued, "Demand for OneWeb is expected to increase due to efforts to reduce reliance on Starlink in Ukraine and across Europe," and noted, "Recently, Eutelsat Group announced a capital increase of 1.35 billion euros."

Bae explained, "After the Eutelsat capital increase, a French government agency is expected to secure approximately 30% of the shares and become the largest shareholder," and added, "Gateway sales for Company A are expected to exceed 19 billion KRW in the second quarter, with sales increasing compared to the previous quarter."