[E-Daily Reporter Hyera Lee ] On the 15th, DB Securities projected that INNOCEAN WORLDWIDE INC.(214320)’s second-quarter earnings would meet market expectations as its overseas growth continues, particularly in Europe and the Americas. The firm maintained its “Buy” rating and target price of 24,000 won.

Shin Eun-jeong, an analyst at DB Securities, stated in a report released that day, “The parent company is expected to post solid results due to increased CX (customer experience) revenue from non-affiliated domestic advertisers and the impact of the World Cup campaign, while overseas gross profit is also projected to rise 9% year-over-year.”
DB Securities projected that INNOCEAN WORLDWIDE INC.’s second-quarter gross profit would reach 259.2 billion won and operating profit 41.3 billion won, representing year-over-year increases of 7.2% and 13.3%, respectively.
Analyst Shin noted, “In Europe, digital transformation campaigns are expanding across web pages, search, CRM, social media, and branding, and the region is expected to maintain high growth of 18% year-over-year,” adding, “In the Americas as well, growth in Canvas performance and an increase in non-affiliated clients will drive overseas growth.”
Stable earnings growth is also expected in the second half of the year. Analyst Shin noted, “New vehicle campaigns for high-volume models—including the full redesigns of the Avante, Tucson, and GV80 in the third quarter and the facelift (F/L) of the Santa Fe in the fourth quarter—are scheduled, which will result in stable captive sales volume.” He added, “The expansion of digital transformation efforts in Europe, along with increased CX-focused and non-affiliated sales driven by the headquarters’ pop-up stores and showrooms, will also contribute to improved earnings.”
He also highlighted the appeal of the dividend. Analyst Shin assessed, “Based on the recent stock price, the annualized dividend yield stands at around 6.4%, making the dividend highly attractive,” adding, “Given the continued steady shareholder returns and earnings growth, a long-term investment approach is valid.”