[Click e-Stock] "Icecream Media Expected to Improve Performance"

On July 7, Yuanta Securities projected that Icecream Media's performance is expected to improve.

Kwon Myungjun, a researcher at Yuanta Securities, explained, "The number of subjects for which printed textbooks have been adopted has increased," and added, "The number of subjects for which Icecream Media received official approval rose from three in 2023 to seven in 2024."

He further stated, "In 2026, one more subject will be added, bringing the total to eight," and noted, "2024 is the first year the 2022 revised curriculum has been applied to elementary schools."

He also mentioned, "For grades 3 and 4, the revised textbooks under the 2022 curriculum will be adopted starting in 2025, and for grades 5 and 6, starting in 2026."

Kwon analyzed, "Compared to textbooks under the 2015 revised curriculum, the prices of printed textbooks for the 2022 revised curriculum have increased," and added, "Although there are differences by subject, on average, prices have risen by more than 30% compared to before." He emphasized, "Despite entering the market later than competitors, Icecream Media holds the top market share for printed textbooks in mathematics, social studies, and science for grades 3 and 4 in elementary schools," and assessed that "the high utilization rate of Icecream S among elementary school teachers likely contributed to this result."

Kwon added, "We expect market share to rise in music, physical education, art, and English textbooks as well," and explained, "Growth is also anticipated on Icecream Mall, the company's educational product e-commerce platform."

Through its earnings outlook disclosure, Icecream Media projected sales of 208 billion KRW and operating profit of 66 billion KRW. These figures represent increases of 36.7% and 30.2%, respectively, compared to the previous year.