CJ ENM, 대신증권의 분석에 따르면 2분기에 흑자 전환할 것으로 전망
CJ ENM, 2Q Turnaround in Black Following Previous Quarter
CJ ENM is expected to achieve a turnaround to profitability in the second quarter of this year, according to Daishin Securities. Although the company is expected to show lackluster performance compared to the same period last year, it is gradually improving. The investment recommendation remains at "Marketperform" with a target price of 79,000 won.
Daishin Securities predicts that CJ ENMs second-quarter revenue will increase by 13% to 1.3 trillion won compared to the same period last year, while operating profit is expected to decrease by 81% to 105 billion won. Despite the disappointment in operating profit, it is expected to turn to profitability compared to the previous quarter.
Researcher Kim Hoi-jae at Daishin Securities stated that "the operating profit of the media platform is expected to remain in the red", adding that "TV advertising has recovered to the level of last year in the food and beverage and pharmaceutical sectors, and there is an expectation of advertising recovery in the second half due to the release of major game titles."
He continued, "The number of subscribers to Tving is expected to reach 3.8 million as of the second quarter and is expected to reach 4.5 million in the fourth quarter." He also mentioned, "The revenue in the film and drama division is expected to grow by 58% compared to the previous quarter, and it is possible to reach the BEP (break-even point) by supplying six contents in the fourth quarter."
In terms of music albums, Daishin Securities predicted steady growth in both existing and new lineups. It estimated that revenue would increase by 17% to 1.3 trillion won compared to the same period last year, and operating profit would increase by 42% to 174 billion won. Kim Hoi-jae pointed out that the release of albums and an increase in concerts by "ENHYPEN, JO1, and INI" from "Boys Planet" are the underlying factors.
In conclusion, CJ ENMs second-quarter performance is expected to show improvement compared to the previous quarter, although it may fall short when compared to the same period last year. Nonetheless, the companys gradual recovery and growth in various sectors continue to be analyzed positively.
CJ ENM is expected to achieve a turnaround to profitability in the second quarter of this year, according to Daishin Securities. Although the company is expected to show lackluster performance compared to the same period last year, it is gradually improving. The investment recommendation remains at "Marketperform" with a target price of 79,000 won.
Daishin Securities predicts that CJ ENMs second-quarter revenue will increase by 13% to 1.3 trillion won compared to the same period last year, while operating profit is expected to decrease by 81% to 105 billion won. Despite the disappointment in operating profit, it is expected to turn to profitability compared to the previous quarter.
Researcher Kim Hoi-jae at Daishin Securities stated that "the operating profit of the media platform is expected to remain in the red", adding that "TV advertising has recovered to the level of last year in the food and beverage and pharmaceutical sectors, and there is an expectation of advertising recovery in the second half due to the release of major game titles."
He continued, "The number of subscribers to Tving is expected to reach 3.8 million as of the second quarter and is expected to reach 4.5 million in the fourth quarter." He also mentioned, "The revenue in the film and drama division is expected to grow by 58% compared to the previous quarter, and it is possible to reach the BEP (break-even point) by supplying six contents in the fourth quarter."
In terms of music albums, Daishin Securities predicted steady growth in both existing and new lineups. It estimated that revenue would increase by 17% to 1.3 trillion won compared to the same period last year, and operating profit would increase by 42% to 174 billion won. Kim Hoi-jae pointed out that the release of albums and an increase in concerts by "ENHYPEN, JO1, and INI" from "Boys Planet" are the underlying factors.
In conclusion, CJ ENMs second-quarter performance is expected to show improvement compared to the previous quarter, although it may fall short when compared to the same period last year. Nonetheless, the companys gradual recovery and growth in various sectors continue to be analyzed positively.
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