[Click e-Stock] "Dasco Turns Profitable... Expectations Grow for Company Capable of Handling Entire Solar Infrastructure Value Chain"

Independent research firm ValueFinder gave a positive assessment on the 11th of Dasco's turnaround to an operating profit last year. Dasco's sales came in at 273.2 billion won, down 12.4% year-on-year, but it is analyzed that the company succeeded in improving profitability thanks to increased sales and operating profit in its energy business.

Founded in 1996, Dasco is a company specializing in social overhead capital and energy businesses, and it was listed on the KOSPI market in 2004. While it is engaged in a wide range of businesses including energy, construction materials, SOC, and steel products, it is emerging as an energy infrastructure specialist as the sales contribution of its energy division continues to increase.

The fact that Elon Musk has recently emphasized the strategic importance of solar-based energy in the process of expanding space infrastructure, thereby raising interest in the solar industry, is also creating a favorable business environment. Tesla has expanded solar cell manufacturing in the United States and has set a goal of building manufacturing capacity of 100GW by 2028.

Lee Chungheon, a researcher at ValueFinder, explained, "Dasco is one of the few listed companies in Korea that can handle the entire process of the solar power business, from design and construction to EPC (engineering/procurement/construction) and O&M (operation/maintenance)," adding, "The company is currently participating in and preparing for multiple large-scale solar projects, including a 1.8GW-class project in the Jeonnam region and the Saemangeum floating solar project in the Jeonbuk region."

He further analyzed, "Given the nature of renewable energy projects that are based on permits and licenses, experience in participating in large-scale projects will become a key capability that can enhance order-winning competitiveness as the market expands going forward."

He added, "It is understood that Dasco has set this year's new order target for the energy division at more than twice last year's level, so not only sales growth but also margin improvement through cost reductions is expected."