CJ E & M, the broadcast division increased earnings, NetMarble stakes rise - Oil hits Securities

It was presented to the [financial newspaper goyounghun Korea News] Oil hits Securities 17 days, saying the broadcasting sector is entering a structural increase in earnings for the period CJ E & M BUY target price of 110,000 won on.

Park Seong-ho Yu hits Securities researcher "CJ E & M has organized the production of the core PP channel tvN stabilized continue broadcasting content qualitative growth" and "domestic pay-TV digital conversion increases, the wireless communications service infrastructure, the world's leading global online Our videos provide services (OTT) TV market growth and due to the Korean Wave contents were diagnosed and show strong throughout in domestic and international markets. "

Park researchers sent but the "broadcast division's operating profit of 70.9 billion won, is expected to surge to 107.7 billion won in 2018 year" and "due to accounting issues, according to the 2016 nyeonen Drama Rights accelerated depreciation grow earnings plateau, buteon 2017 fiscal issue ever explained it would cause the most destruction as a full-fledged operating leverage effect ".

He added, "Net Marble Games is due to the domestic market, the jackpot of Lineage II Revolution launched in December 2016 and subject to increase explosive performance in 2017" and "equity value of the IPO is also 232% to 167.7 billion won this year from last year's 50.5 billion won will be growing, "he said.

In addition, CJ E & Media Business sales worth 1.9 trillion won (50,000 won per share) stake NetMarble 2.6 trillion won (70,000 won per share), the net debt of M has decided to 370.7 billion won (10,000 won per share).



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