[Special Stock] Humedics, Profitability Outlook Rises with Filler Export Expansion '↑'

Humedix is on the rise. It is interpreted that the analysis by securities firms expecting profitability improvement due to the expansion of filler exports has had an impact.

As of 10:10 AM on the 20th, Humedix was trading at 43,850 KRW, up 1,000 KRW (2.33%) compared to the previous trading day.

Jo Eun-ae, a researcher at LS Securities, said, "Filler export sales and sales contribution are expected to sharply increase from 25.4 billion KRW and 17% last year to 38.1 billion KRW and 23% this year, and 52.8 billion KRW and 28% next year," adding, "This is because the number of export countries continues to expand to Brazil, Iraq, Thailand, Vietnam, etc., and the average selling price (ASP) is expected to rise due to the approval of body filler items in Brazil, which increases filler volume."

Researcher Jo explained, "As the proportion of filler exports, which are relatively profitable, expands, Humedix's operating profit margin is expected to continue improving from 25% last year to 27% this year and 28% next year," and added, "The expected sales for this year are 168.8 billion KRW, operating profit 45.4 billion KRW, and operating profit margin 27%."

He emphasized, "The proportion of export sales is expected to rise from 17% last year to 24% this year and 29% next year, as filler exports to Brazil started last year and new export countries have been added," and stated, "By confirming the increase in export proportion numerically, we believe that the valuation discount compared to peers in the same industry can be gradually resolved."

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