[Market Focus] Korea District Heating Corporation Rises on Third-Quarter Earnings Surprise

Korea District Heating Corporation is showing strong performance. This is believed to be due to news that the company posted results in the third quarter that far exceeded the market consensus.

As of 1:32 p.m. on November 7, Korea District Heating Corporation was trading at 103,200 won, up 4.98% from the previous day.

On this day, Korea District Heating Corporation announced in a regulatory filing that its preliminary results for the third quarter of this year were sales of 758.2 billion won, operating profit of 89.4 billion won, and net profit of 49 billion won. Compared to the same period last year, sales increased by 29.6%, operating profit by 209.6%, and net profit by 50.3%.

This is a surprise performance that surpasses the third-quarter consensus of 554.7 billion won in sales, 12.5 billion won in operating profit, and 7.3 billion won in net profit.

The company’s cumulative results for the first three quarters of this year are sales of 2.9581 trillion won, operating profit of 403.6 billion won, and net profit of 260.9 billion won. Compared to the same period last year, sales increased by 18.7%, operating profit by 88.5%, and net profit by 81.9%.