공고 • Apr 22
Taewoong Logistics Co., Ltd. announced that it expects to receive KRW 15 billion in funding from Samsung Securities Co.,Ltd. Taewoong Logistics Co., Ltd. has announced a private placement of Series 2 Unregistered Interest Unsecured Private Convertible Bonds of the company to raise gross proceeds of KRW 15,000,000,000 on April 22, 2026. The transaction includes participation from NH Absolute Return General Private Investment Trust No. 1 advised by Samsung Securities Co., Ltd. for KRW 1,500,000,000, Rhinos Mezzanine General Private Equity Securities Investment Trust No. 26 advised by Samsung Securities Co., Ltd. for KRW 1,500,000,000,Shinhan-BNK Mezzanine New Technology Fund No. 1 for KRW 11,000,000,000 and GVA-YG Mezzanine Alpha New Technology Fund for KRW 1,000,000,000. The Bonds are 100% convertible into 5,407,354common shares of the company at a conversion price value of KRW 2,774 and carry interest rate of 0% and maturity interest rate of 0%. The conversion billing period starts from April 30, 2027 to March 30, 2031. The transaction has been approved by the board of directors of the company. The Bonds have a maturity date of April 30, 2031.The transaction is expected to close on April 30, 2026. The transaction is subject to 1 year hold period. Upcoming Dividend • Mar 23
Upcoming dividend of ₩130 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 24 April 2026. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 3.5%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.8%). Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: ₩835 (vs ₩743 in FY 2023) Full year 2024 results: EPS: ₩835 (up from ₩743 in FY 2023). Revenue: ₩1.04t (up 36% from FY 2023). Net income: ₩30.2b (up 12% from FY 2023). Profit margin: 2.9% (down from 3.5% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. 공고 • Feb 26
Taewoong Logistics Co., Ltd., Annual General Meeting, Mar 26, 2025 Taewoong Logistics Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 95, seocho-daero 42-gil, seocho-gu, seoul South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩70.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 28 April 2025. Payout ratio is a comfortable 9.0% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩3,720, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 10x in the Shipping industry in South Korea. Total returns to shareholders of 10.0% over the past three years. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: ₩743 (vs ₩2,494 in FY 2022) Full year 2023 results: EPS: ₩743 (down from ₩2,494 in FY 2022). Revenue: ₩770.3b (down 42% from FY 2022). Net income: ₩27.0b (down 71% from FY 2022). Profit margin: 3.5% (down from 7.0% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩4,485, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 8x in the Shipping industry in South Korea. Total returns to shareholders of 93% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share at 4.0% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 29 April 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (6.1%). Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩154 (vs ₩615 in 3Q 2022) Third quarter 2023 results: EPS: ₩154 (down from ₩615 in 3Q 2022). Revenue: ₩197.9b (down 41% from 3Q 2022). Net income: ₩5.58b (down 76% from 3Q 2022). Profit margin: 2.8% (down from 6.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Aug 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.6b (US$98.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩132.6b market cap, or US$98.9m). Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ₩202 (vs ₩1,429 in 1Q 2022) First quarter 2023 results: EPS: ₩202 (down from ₩1,429 in 1Q 2022). Revenue: ₩186.5b (down 53% from 1Q 2022). Net income: ₩7.42b (down 73% from 1Q 2022). Profit margin: 4.0% (down from 6.8% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. 공고 • May 09
Taewoong Logistics Co.,Ltd. announced that it has received KRW 29.999962011 billion in funding On May 8, 2023, Taewoong Logistics Co.,Ltd. closed the transaction. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩5,240, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 4x in the Shipping industry in South Korea. Total returns to shareholders of 157% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩2,494 (vs ₩1,691 in FY 2021) Full year 2022 results: EPS: ₩2,494 (up from ₩1,691 in FY 2021). Revenue: ₩1.33t (up 41% from FY 2021). Net income: ₩93.4b (up 47% from FY 2021). Profit margin: 7.0% (up from 6.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. 공고 • Jan 09
Taewoong Logistics Co.,Ltd. (KOSDAQ:A124560) announces an Equity Buyback for KRW 5,000 million worth of its shares. Taewoong Logistics Co.,Ltd. (KOSDAQ:A124560) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its own shares pursuant to a contract with Mirae Asset Securities Co.,Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on January 9, 2024. As of January 8, 2023, the company had 1,217,000 treasury shares within scope available for dividend and no shares in treasury through other repurchase. Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 28 April 2023. Payout ratio is a comfortable 1.7% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.5%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ₩622 (vs ₩560 in 3Q 2021) Third quarter 2022 results: EPS: ₩622 (up from ₩560 in 3Q 2021). Revenue: ₩333.4b (up 30% from 3Q 2021). Net income: ₩23.1b (up 10% from 3Q 2021). Profit margin: 6.9% (down from 8.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 18% share price gain to ₩6,000, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Shipping industry in Asia. Total returns to shareholders of 20% over the past year. 공고 • Jun 21
Taewoong Logistics Co.,Ltd. (KOSDAQ:A124560) announces an Equity Buyback for KRW 3,000 million worth of its shares. Taewoong Logistics Co.,Ltd. (KOSDAQ:A124560) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its own shares pursuant to a contract with Mirae Asset Securities Co.,Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on June 20, 2023. As of June 19, 2022, the company had 657,000 treasury shares within scope available for dividend and no shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩5,730, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Shipping industry in Asia. Total returns to shareholders of 28% over the past year. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improved over the past week After last week's 18% share price gain to ₩8,130, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Shipping industry in Asia. Total returns to shareholders of 67% over the past year. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 31% share price gain to ₩12,500, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Shipping industry in Asia. Total returns to shareholders of 28% over the past year. Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 29 April 2022. Payout ratio is a comfortable 2.4% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩8,400, the stock trades at a trailing P/E ratio of 12x. Average forward P/E is 10x in the Shipping industry in South Korea. Total returns to shareholders of 166% over the past year. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 20% share price gain to ₩9,720, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 123% over the past year. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improved over the past week After last week's 40% share price gain to ₩7,240, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 25x in the Shipping industry in South Korea. Total returns to shareholders of 105% over the past year. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 29th of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.0% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (2.9%). Is New 90 Day High Low • Dec 14
New 90-day high: ₩6,090 The company is up 53% from its price of ₩3,970 on 15 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 57% over the same period. Reported Earnings • Dec 03
Third quarter 2020 earnings released: EPS ₩141 The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ₩86.0b (up 34% from 3Q 2019). Net income: ₩2.31b (down 2.9% from 3Q 2019). Profit margin: 2.7% (down from 3.7% in 3Q 2019). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 26% share price gain to ₩5,650, the stock is trading at a trailing P/E ratio of 8.1x, up from the previous P/E ratio of 6.4x. This compares to an average P/E of 13x in the Shipping industry in South Korea. Is New 90 Day High Low • Nov 12
New 90-day high: ₩5,650 The company is up 61% from its price of ₩3,520 on 14 August 2020. The South Korean market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 49% over the same period. Valuation Update With 7 Day Price Move • Oct 27
Market bids up stock over the past week After last week's 18% share price gain to ₩4,960, the stock is trading at a trailing P/E ratio of 7.1x, up from the previous P/E ratio of 6x. This compares to an average P/E of 11x in the Shipping industry in South Korea. Is New 90 Day High Low • Oct 27
New 90-day high: ₩4,960 The company is up 39% from its price of ₩3,560 on 29 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 31% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: ₩4,790 The company is up 36% from its price of ₩3,525 on 19 June 2020. The South Korean market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 15% over the same period. 공고 • Jul 31
Taewoong Logistics Co.,Ltd. (KOSDAQ:A124560) acquired Gls Korea Co.,Ltd for KRW 6.8 billion. Taewoong Logistics Co.,Ltd. (KOSDAQ:A124560) acquired Gls Korea Co.,Ltd for KRW 6.8 billion on April 10, 2020. As per the terms, consideration will be payable in cash and Taewoong Logistics will acquire 0.06 million shares. As of December 31, 2019, Gls Korea Co reported total assets of KRW 7.3 billion, Sales of KRW 16.6 billion, total capital of KRW 4.8 billion and net income of KRW 395 million.
Taewoong Logistics Co.,Ltd. (KOSDAQ:A124560) completed the acquisition of Gls Korea Co.,Ltd on April 10, 2020.