[EQUITIES] ‘Samsung Heavy’s order backlog shrinks’

Stocks & Bonds

[EQUITIES] ‘Samsung Heavy’s order backlog shrinks’

PUBLISHED :August 21, 2017 - 18:29
UPDATED :August 21, 2017 - 18:29

[THE INVESTOR] Samsung Heavy Industries’ earnings will decline as its order backlog is shrinking, said Eugene Investment and Securities on Aug. 21, lowering the target price to 13,000 won (US$11.43) from 16,000 won.

Its marine plants are performing very well accounting for 78 percent of its orders this year but the remaining order amount is depleting fast, said analyst Lee Sang-woo.

The amount reached US$21 billion as of the end of July, down 25 percent from the beginning of the year, emphasized the analyst, noting that although the company has won many orders, they were not enough to offset the slow revenue.

Its third-quarter revenue will drop 37.3 percent on-year to 1.74 trillion won and operating profit by 61.9 percent to 32 billion won, estimated Lee.

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

BACK TO LIST TOP

April 26, 2024

Stocks & Bonds

[EQUITIES] ‘Samsung Heavy’s order backlog shrinks’

EDITOR'S PICKS