[Featured Stock] Jobi's Q1 Operating Profit Triples Last Year's Full-Year Profit... Major Fertilizer Prices Double
[Asia Economy Reporter Hyungsoo Park] Jobi is showing strong performance. The news of a sharp increase in sales and operating profit in the first quarter of this year appears to have influenced the stock price.
As of 2:54 PM on the 16th, Jobi is trading at 26,500 KRW, up 22.69% compared to the previous trading day.
Jobi announced that it recorded sales of 43,685.81 million KRW in the first quarter of this year. Operating profit was 9,568.26 million KRW, and net profit was 8,239.54 million KRW. This represents a 120.64% increase compared to sales of 19,799 million KRW in the first quarter of last year. Operating profit reached three times last year's 3,077.41 million KRW, increasing by 543.47% year-over-year.
In its quarterly report, Jobi explained that following two rounds of industry rationalization measures related to fertilizers, about eight companies are currently participating in fertilizer manufacturing and sales. As of the end of last year, Jobi maintained approximately 9.7% market share in the overall fertilizer market. Major products include controlled-release fertilizers such as Danhanbeon, and a significant portion of sales is conducted through the NongHyup Central Association.
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Regarding price trends of major products, the price of 'Danhanbeon' increased by 44.3%, from 835,583 KRW per M/T last year to 1,205,383 KRW. Prices of Euddeum NK 18-0-16, Ipyunhan S, and customized fertilizers rose by 113.89%, 99.35%, and 125.19%, respectively.
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