Hanon system, ... Asia sales growth slowed congestion - Eastern

[Korea hyerin nine financial newspaper reporter] Dongbu Securities for the system on the 15th hanon Top-line growth with sales growth slowing in Asia were evaluated as likely to stagnate. This recommendation is hold, target price was given 1 million.

Hanon system sales 1.5017 trillion won (+ 2.8% YoY, + 17.0% QoQ), operating profit of 116 billion won (-3.8% YoY, + 8.8% QoQ) the operating profit was 9% lower than market expectations in the fourth quarter of last year .

Dongbu Securities Research Institute said gimpyeongmo '+ 6%, respectively, compared to last year sales growth of +4.3 in the United States and South Korea, but legal, corporate sales growth in China slowed sales are made against four other domestic auto parts rather sluggish growth,' 'Sales profit slump by increasing the production of domestic and foreign legal expenses, the performance of the Chinese yuan weakened by worsening corporate and R & D expenses (+ 6% YoY) growth, such as "he explained.

Kim researchers topic of this year is expected to be the growth of China's non-profit corporation. He said, 'Despite the high volume growth in China, our customers not only a growth slowdown in the Chinese subsidiary will be concerned also consider the yuan weak, said, "The company's Top with sales growth slowing in Asia, including South Korea and China this year -line growth is expected to be stagnant said.

In addition, Kim Institute, the coordination segment of its rival Valeo is expected to stand continued to grow up to second in the year revenue 2016 'said,' If the existing number of states or growth that overwhelms competitors through additional M & A company's global air-conditioning division M / S added that the situation with no choice but to continue to decline.



Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com