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Source = Classys |
[Alpha Biz= Paul Lee] Sangsang Investment Securities predicted on Thursday that Clasis would continue its high growth this year, driven by exports of aesthetic medical devices. As a result, the target stock price was raised by 20%, from 60,000 won to 72,000 won.
Clasis' consolidated operating profit for the previous year increased by 36.6% year-on-year, reaching 122.5 billion won, while its revenue for the same period saw a 34.8% rise to 242.9 billion won.
Analyst Hae-Taeki from Sangsang Investment Securities stated that this year, the merger with Eruda, a laser beauty equipment company, will further boost profitability. "This year, the full effect of the Eruda merger will be reflected, with sales expected to grow 42.7% year-on-year to 346.7 billion won, while operating profit is expected to increase by 36.7% to 165.1 billion won," he explained.
Sangsang Investment Securities expects the export share in the aesthetic medical device sector to expand. "The export of the focused ultrasound device, Shrink, is experiencing rapid growth in Latin America and Asia," said Hae-Taeki. "Additionally, the new product, Ball Neumer, which helps fill collagen in monopolar applications, is scheduled to launch in Europe this year, followed by China and the U.S. markets next year." He also mentioned that aesthetic medical device sales are expected to increase by 26.4% compared to last year.
Sangsang Investment Securities also highlighted that the fact that the sales products and regions of Eruda do not overlap with Clasis will maximize the synergy from the merger.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
