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THE INVESTOR
September 21, 2018
Big Reunion

Stocks & Bonds

[EQUITIES] ‘DSME’s outlook bright this year’

  • PUBLISHED :March 13, 2018 - 11:56
  • UPDATED :March 13, 2018 - 11:56
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[THE INVESTOR] Daewoo Shipping and Marine Engineering’s outlook for orders and revenue this year is bright, said Korea Investment and Securities on March 13, maintaining a “buy” recommendation and 30,000 won (US$28.16) target price.




Its revenue in the fourth quarter last year fell 7 percent on-year to 2.5 trillion won and operating loss expanded larger than expected to 351 billion won, said analyst Lee Gyeong-ja. 

The amount of orders last year reached US$3.4 billion, failing to meet its US$4.5 billion target, but DSME’s estimate for this year is US$7.3 billion, higher than market consensus, underlined the analyst. 

This year the shipbuilder will deliver 20 LNG carriers, including up to five higher-priced icebreakers for Russia’s Yamal project, and as it will collect US$3 billion won from LNG carriers alone its cash flow will improve significantly, noted Lee. The industry’s recovery especially in LNG carriers is favorable to DSME, she added. 

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

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