April 25, 2024

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[THE INVESTOR] Korea Electric Power Corp.’s earnings will be slow in the first quarter as expected but is headed for an upturn, said KTB Investment and Securities on March 30, maintaining a “buy” recommendation and 60,000 won (US$53.72) target price. 

Its revenue in the first quarter will slip 1.6 percent to 15.4 trillion won and operating profit by 39.1 percent to 2.2 trillion won from the same time last year, estimated analyst Shin Ji-yun. 

The progressive charging has eased while LNG price rose while operating ratio of nuclear plants fell, all denting the operating profit, explained the analyst. 

Its operating profit for the whole year will fall 21.4 percent to 9.4 trillion won but in the fourth quarter it will show on-year growth of 62 percent, said Shin.

By Hwang You-mee (glamazon@heraldcorp.com)