Emerging as an Aerospace Materials Company with Advanced Aluminum Extrusion Technology
Stock Price Surges 114% This Year
As expectations rise for the growth of the aerospace industry, the corporate value of Almec, a company specializing in aluminum extrusion, has more than doubled since the beginning of this year. With the possibility of a SpaceX listing recently being discussed and a full-scale re-evaluation of the global aerospace industry underway, investor interest is spreading to domestic companies within the related value chain.
According to the financial investment industry on January 16, Almec's stock price has risen by 114.4% since the start of the year, surpassing the 43,000 won mark. Its market capitalization has increased to approximately 276 billion won. This sharp rise places Almec among the top five stocks in terms of growth rate on the domestic stock market since the beginning of the year.
In the market, it is assessed that the stock analysis report published by NH Investment & Securities on January 7 served as a catalyst for the stock's re-evaluation. Almec's stock price had shown a sluggish trend, falling by about 20% over the past year. Even as of January 6, just before the report was released, the stock price remained around 20,000 won. After NH Investment & Securities highlighted Almec's growth potential, investor interest began to flow in in earnest.
Kang Kyungkeun, a researcher at NH Investment & Securities, analyzed in the report that Almec is a company expected to directly benefit from the growth of the aerospace industry. He presented the company's entry into full-scale commercial production at its Sacheon plant in South Gyeongsang Province and its diversification into new businesses as the basis for performance recovery and mid- to long-term growth potential. In particular, he evaluated Almec's aluminum extrusion technology, accumulated over more than 50 years, as a core competitive advantage that can deliver tangible results within the aerospace industry.
Aluminum is a material that offers excellent strength, corrosion resistance, and workability relative to its light weight. Alongside carbon fiber composites and titanium alloys, it is considered one of the key materials in the aerospace sector. It is used in a variety of essential components, including propulsion systems and fuel tanks for satellites and launch vehicles, as well as rocket engine parts. Demand continues to grow in the aerospace industry, where weight reduction and structural stability are crucial.
Since its listing in 2023, Almec has been conducting research and development on aluminum extrusion materials for Urban Air Mobility (UAM). The company has secured core technologies such as crash alloys, which can absorb impact energy while maintaining high strength, and high-ductility extruded alloys. Researcher Kang stated, "Almec is currently conducting sample tests for key clients in the aerospace sector," adding, "Significant results may be achieved within the first half of this year."
Almec is expected to continue its growth based on a stable order backlog. According to NH Investment & Securities, as of the end of the third quarter last year, Almec had secured an order backlog of approximately 1.1 trillion won. NH Investment & Securities predicted that Almec would enter a full-fledged growth phase starting this year and estimated that the company would achieve sales of 220.3 billion won and operating profit of 12.3 billion won in 2024. These figures represent increases of 19.0% and 51.3%, respectively, compared to last year's estimates.
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