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[Alpha Biz=(Chicago) Reporter Paul Lee] Although the golf zone is expected to post sluggish performance in the first quarter of this year, its earnings growth trend is said to be valid as demand for upgrading "To Vision NX" has been found to be more than 10,000 units.
"Golf Zone expects sales of 185.2 billion won (-0.9%) and operating profit of 31.9 billion won (-23.2%)," Shinhan Investment & Securities said on the 5th. "We are paying attention to NX upgrades, new US simulator stores and performance of GDR in Japan."
"Of the pre-orders for Investment Vision NX, 5,355 units were reflected in the second half of last year," Shinhan Investment & Securities said. "In the future, more than 11,000 units are on standby, and we expect sales of the franchise business to reach 93.1 billion won, up 25.1% from the previous quarter."
"Overseas sales are estimated at 27.2 billion won (+58.3% and 14.7% of sales)," Shinhan Investment & Securities said. "The contribution to performance in the U.S. and Japanese markets is on the rise. In the U.S., demand for simulators in Golf Zone Social, a sports pub concept complex golf culture space applying localization strategies, is increasing."
"The U.S. dealer network has also expanded to five from the previous three, and GDR (hardware) orders are increasing as the market for upgrading the golf practice range has been brisk in Japan," Shinhan Investment & Securities added.
Golf Zone's consolidated sales and operating profit in the fourth quarter of last year were 166.5 billion won and 14.7 billion won, up 17.8% and 97.7%, respectively, from a year earlier.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
