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  • Air transportation market for 1Q14 – LCCs doing well

    Air transportation market for 1Q14  LCCs doing well 1Q14 Korean air transportation market generally robust Ministry of Land, Infrastructure and Transport (MOLIT) released that 1Q14 air transpo...

    2014-04-28 12:53
  • Apparel-Department/discount store March sales: Overall apparel SSS weak

    March department store SSS down 1.1% YoY, discount store SSS down 3.7% YoY - March department store same store sales (SSS) slipped 1.1% YoY. Excluding household and miscellaneous goods, apparel ...

    2014-04-28 12:50
  • 1Q14 smartphone: SEC, Motorola and Chinese players gain market share

    1Q14 global smartphone demand beats our estimate While Apple is the only major smartphone maker to post 1Q14 to date, we believe global smartphone demand reached 275mn units (+29% YoY, -5% QoQ) i...

    2014-04-28 12:48
  • Electric utilities-Waning era of nuclear energy

    Decommissioning outnumbers construction amid growing doubts about economic feasibility and safety The role of nuclear energy in the global power generation mix is shrinking and this is not an a...

    2014-04-28 12:45
  • Air Transportation 1Q14 market overview – LCCs doing well

    ▶ On April 24, the Ministry of Land, Infrastructure and Transport (MOLIT) released 1Q14 air transportation data. International and domestic passenger demand increased 5.9% YoY and 13.8% YoY, respec...

    2014-04-25 14:19
  • Handset 1Q14 smartphone: SEC, Motorola and Chinese players gain market share

    ▶ While Apple is the only major smartphone maker to post 1Q14 to date, we believe global smartphone demand reached 275mn units (+29% YoY, -5% QoQ) in 1Q14. In terms of quantity, demand remains robu...

    2014-04-25 14:16
  • Modetour Network 1Q14 review: Earnings momentum to emerge soon

    ▶ Modetour Network (Modetour) posted 1Q14 separate sales of W39.7bn (+10.7% YoY) and OP of W6.1bn (+8.1% YoY), in line with our estimates (sales W38.3bn, OP W6.2bn). Demand to troubled markets, suc...

    2014-04-25 14:14
  • Daewoo International 1Q14 review: Myanmar effects begin

    ▶ Daewoo International (DWI) posted solid results, with 1Q14 OP of W64bn, up 54% YoY and 39% QoQ, beating our estimate of W60bn. Income from the Myanmar gas field have begun to be reflected on earn...

    2014-04-25 14:12
  • LG Household & Healthcare 1Q14 review: Focus on recovery in 2Q-3Q14

    ▶ LG Household & Healthcare (LG H&H) posted sluggish 1Q14 earnings with sales of W1.13tn (+5.2% YoY) and OP of W128.3bn (-12.1% YoY), as expected. In line with expectations, OP contracted on lower ...

    2014-04-25 14:08
  • LG Hausys 1Q14 review: Cycle changes after 15 years, home improvement sector to benefit

    ▶ 1Q14 OP topped our estimate by 12.8%. Earnings details will be disclosed in June with the company’s 1Q14 business report. Although IT/automobile parts OP is estimated to have dropped 20% YoY, the...

    2014-04-25 14:07
  • Daelim Industrial 1Q14 review: Time to focus on upside

    ▶ Daelim Industrial’s (Daelim) separate sales fell 19% YoY in 1Q14 due to the typically sharp drop-off in 1Q. Although Daelim could have been hit hard by costs in the quarter, its OP met our estima...

    2014-04-25 14:05
  • Four affiliates sell Samsung Life stakes

    SEMCO, Samsung Fine Chemicals, Samsung SDS and Cheil Worldwide fully divest Samsung Life stakes via block deals It was disclosed that four manufacturing companies in the Samsung group would ful...

    2014-04-23 17:41
  • Apparel 1Q14 preview: Overseas favorable, domestic bottom

    1Q14 preview: Apparel OEM > overseas brand = domestic brand 1Q14 combined apparel sector sales should grow 8% YoY and OP 7% YoY, in line with the consensus. Combined OP of the four overseas playe...

    2014-04-23 17:37
  • Samsung Engineering 1Q14 review: Challenge and response

    ▶ 1Q14 sales beat our estimate by 16.8% and the consensus by 29%, while OPM was 0.3%p higher than we expected. We attribute the solid sales to affiliate orders. In addition, COGS ratio for hydrocar...

    2014-04-23 17:35