[Alpha Biz= Reporter Kim Sangjin] On the 20th, Hana Securities projected that Ecopro HN would see a full recovery in performance by the first half of 2024.
Ecopro HN, established in 2021 after the environmental business division of Ecopro was spun off, is the only comprehensive eco-friendly solutions company in South Korea. Its main business includes providing solutions for reducing fine dust and greenhouse gases across various industries and producing chemical filters used to eliminate hazardous gases in semiconductor and display factories.
Due to a downturn in key sectors like semiconductors, displays, and petrochemicals, Ecopro HN reported a second-quarter revenue of 46.8 billion KRW and an operating profit of 3.6 billion KRW, reflecting a 17.2% and 67.9% year-on-year decline, respectively.
Researcher Jo Jung-hyun noted, "Signs of recovery are emerging in the chemical and steel industries this year," adding that "performance recovery is increasingly likely through the expansion of partnerships with major semiconductor firms entering the U.S. and securing additional customers."
The analyst also highlighted growth opportunities in the new water treatment business and potential new project wins, predicting that the company’s performance would improve through the first half of next year.
Earlier this month, Ecopro HN announced a 200 billion KRW rights offering to support its transformation into a leading player in special and next-generation materials. The capital raised will be used for upgrading chemical filter production lines, expanding greenhouse gas treatment catalyst facilities, and investing in semiconductor material business infrastructure.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
