Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩3,250, the stock trades at a trailing P/E ratio of 72.9x. Average trailing P/E is 9x in the Luxury industry in South Korea. Total loss to shareholders of 38% over the past three years. Board Change • May 06
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: ₩4.00 (vs ₩27.00 in FY 2024) Full year 2025 results: EPS: ₩4.00 (down from ₩27.00 in FY 2024). Revenue: ₩132.3b (down 4.6% from FY 2024). Net income: ₩884.2m (down 84% from FY 2024). Profit margin: 0.7% (down from 3.9% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Announcement • Mar 10
SG Corporation, Annual General Meeting, Mar 24, 2026 SG Corporation, Annual General Meeting, Mar 24, 2026, at 11:00 Tokyo Standard Time. Location: conference room, geumcheon-gu, seoul South Korea New Risk • Feb 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 31% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩82.5b market cap, or US$56.6m). New Risk • Nov 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₩77.9b market cap, or US$52.8m). Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ₩2.00 (vs ₩23.00 in 3Q 2024) Third quarter 2025 results: EPS: ₩2.00 (down from ₩23.00 in 3Q 2024). Revenue: ₩35.2b (flat on 3Q 2024). Net income: ₩322.9m (down 93% from 3Q 2024). Profit margin: 0.9% (down from 13% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Aug 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 92% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 28% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (₩63.8b market cap, or US$46.1m). Reported Earnings • May 20
First quarter 2025 earnings released: EPS: ₩1.00 (vs ₩0.14 loss in 1Q 2024) First quarter 2025 results: EPS: ₩1.00 (up from ₩0.14 loss in 1Q 2024). Revenue: ₩33.7b (down 7.5% from 1Q 2024). Net income: ₩228.7m (up ₩256.8m from 1Q 2024). Profit margin: 0.7% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Announcement • Apr 04
SG Corporation (KOSE:A004060) announces an Equity Buyback for KRW 2,000 million worth of its shares. SG Corporation (KOSE:A004060) announces a share repurchase program. Under the program, the company will repurchase shares up to KRW 2,000 million worth of its shares under the contract with MIRAE ASSET SECURITIES CO.,LTD. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will be valid until October 3, 2025. As of April 3, 2025, the company had 3,647,724 shares in treasury under the dividend capacity and no shares in treasury under other buyback. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: ₩27.00 (vs ₩5.00 loss in FY 2023) Full year 2024 results: EPS: ₩27.00 (up from ₩5.00 loss in FY 2023). Revenue: ₩138.8b (down 3.0% from FY 2023). Net income: ₩5.36b (up ₩6.38b from FY 2023). Profit margin: 3.9% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Mar 13
SG Corporation, Annual General Meeting, Mar 26, 2025 SG Corporation, Annual General Meeting, Mar 26, 2025, at 14:30 Tokyo Standard Time. Location: conference room, geumcheon-gu, seoul South Korea Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩23.00 (vs ₩3.00 loss in 3Q 2023) Third quarter 2024 results: EPS: ₩23.00 (up from ₩3.00 loss in 3Q 2023). Revenue: ₩35.5b (up 1.2% from 3Q 2023). Net income: ₩4.67b (up ₩5.31b from 3Q 2023). Profit margin: 13% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. New Risk • Nov 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩69.8b market cap, or US$50.7m). Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₩32.00 (vs ₩5.00 in 2Q 2023) Second quarter 2024 results: EPS: ₩32.00 (up from ₩5.00 in 2Q 2023). Revenue: ₩31.8b (down 7.3% from 2Q 2023). Net income: ₩6.40b (up ₩5.49b from 2Q 2023). Profit margin: 20% (up from 2.7% in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 15
Full year 2023 earnings released: ₩5.00 loss per share (vs ₩9.00 profit in FY 2022) Full year 2023 results: ₩5.00 loss per share (down from ₩9.00 profit in FY 2022). Revenue: ₩143.1b (down 11% from FY 2022). Net loss: ₩1.03b (down 158% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. New Risk • Mar 15
New major risk - Revenue and earnings growth Earnings have declined by 3.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.7% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩85.3b market cap, or US$64.4m). New Risk • Nov 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (₩108.1b market cap, or US$83.8m). Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: ₩5.00 (vs ₩1.00 loss in 2Q 2022) Second quarter 2023 results: EPS: ₩5.00 (up from ₩1.00 loss in 2Q 2022). Revenue: ₩34.3b (down 15% from 2Q 2022). Net income: ₩909.5m (up ₩961.5m from 2Q 2022). Profit margin: 2.7% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: ₩9.00 (vs ₩232 in FY 2021) Full year 2022 results: EPS: ₩9.00 (down from ₩232 in FY 2021). Revenue: ₩161.3b (up 19% from FY 2021). Net income: ₩1.77b (down 96% from FY 2021). Profit margin: 1.1% (down from 35% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jul 20
SG Corporation (KOSE:A004060) announces an Equity Buyback. SG Corporation (KOSE:A004060) announces a share repurchase program. Under the program, the company will repurchase shares up to KRW 3,000 million worth of its shares under the contract with KB Securities co.,Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will be valid until January 19, 2023. As of July 19, 2022, the company had no shares in treasury under the dividend capacity and no shares in treasury under other buyback. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₩232 (up from ₩70.81 loss in FY 2020). Revenue: ₩135.7b (down 19% from FY 2020). Net income: ₩47.0b (up ₩61.3b from FY 2020). Profit margin: 35% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩618, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 11x in the Luxury industry in South Korea. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 39% share price gain to ₩921, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 12x in the Luxury industry in South Korea. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 19% share price gain to ₩727, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 11x in the Luxury industry in South Korea. Total loss to shareholders of 2.5% over the past three years. Announcement • Mar 10
SG Corporation, Annual General Meeting, Mar 24, 2021 SG Corporation, Annual General Meeting, Mar 24, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Feb 01
New 90-day high: ₩720 The company is up 23% from its price of ₩586 on 03 November 2020. The South Korean market is up 27% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: ₩663 The company is up 12% from its price of ₩593 on 15 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: ₩651 The company is up 12% from its price of ₩583 on 10 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: ₩619 The company is up 2.0% from its price of ₩607 on 13 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 11% over the same period. Announcement • Sep 23
SG Corporation announced that it has received KRW 10.5 billion in funding from NH Investment & Securities Co., Ltd., Investment Arm, Samsung Securities Co. Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, KEB Hana Bank, Investment Arm, Shinhan Investment Corp., Investment Arm, KB Securities Co., Ltd., Investment Arm On March 11, 2020, SG Corporation (KOSE:A004060) closed the transaction.