Duyuru • Mar 17
BBC Co., Ltd., Annual General Meeting, Mar 31, 2026 BBC Co., Ltd., Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: grand hall, 25, munpyeongdong-ro, daedeok-gu, daejeon South Korea Declared Dividend • Mar 16
Dividend of د.ك400 announced Shareholders will receive a dividend of د.ك400. Ex-date: 30th March 2026 Payment date: 24th April 2026 Dividend yield will be 5.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 26% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 9.7% EPS decline seen over the last 5 years. Buy Or Sell Opportunity • Jul 28
Now 22% undervalued Over the last 90 days, the stock has risen 17% to ₩9,110. The fair value is estimated to be ₩11,717, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 17%. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩9,980, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 7.6% over the past three years. Buy Or Sell Opportunity • Jul 08
Now 21% undervalued Over the last 90 days, the stock has risen 21% to ₩9,320. The fair value is estimated to be ₩11,752, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 17%. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩8,780, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 11x in the Chemicals industry in South Korea. Total loss to shareholders of 19% over the past three years. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: ₩678 (vs ₩966 in FY 2023) Full year 2024 results: EPS: ₩678 (down from ₩966 in FY 2023). Revenue: ₩60.7b (up 13% from FY 2023). Net income: ₩4.09b (down 31% from FY 2023). Profit margin: 6.7% (down from 11% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 21
Upcoming dividend of ₩400 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 April 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.7%). Duyuru • Mar 18
BBC Co., Ltd., Annual General Meeting, Mar 31, 2025 BBC Co., Ltd., Annual General Meeting, Mar 31, 2025, at 10:00 Tokyo Standard Time. Location: grand hall, 25, munpyeongdong-ro, daedeok-gu, daejeon South Korea Duyuru • Mar 15
BBC Co., Ltd. announces Annual dividend, payable on April 26, 2025 BBC Co., Ltd. announced Annual dividend of KRW 400.0000 per share payable on April 26, 2025, ex-date on March 28, 2025 and record date on March 31, 2025. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (₩43.6b market cap, or US$30.4m). New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 12% 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 12% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩45.1b market cap, or US$32.3m). Duyuru • Sep 11
Neo Cremar Co., Ltd. (KOSDAQ:A311390) completed the acquisition of 26.6% stake in BBC Co., Ltd. (KOSDAQ:A318410) from a group of shareholders. Neo Cremar Co., Ltd. (KOSDAQ:A311390) agreed to acquire 26.6% stake in BBC Co., Ltd. (KOSDAQ:A318410) from a group of shareholders for KRW 33.8 billion on July 11, 2024. As per the transaction, Neo Cremar Co., Ltd. will acquire 1.67 million shares of BBC Co., Ltd. at KRW 22,862 per share. Neo Cremar borrowed a amount of KRW 6.5 billion from Industrial Bank of Korea with Collateral of Iksan Factory.
Neo Cremar Co., Ltd. (KOSDAQ:A311390) completed the acquisition of 26.6% stake in BBC Co., Ltd. (KOSDAQ:A318410) from a group of shareholders on September 10, 2024. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩10,290, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total loss to shareholders of 43% over the past three years. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩966 (vs ₩184 in FY 2022) Full year 2023 results: EPS: ₩966 (up from ₩184 in FY 2022). Revenue: ₩53.6b (up 18% from FY 2022). Net income: ₩5.94b (up 281% from FY 2022). Profit margin: 11% (up from 3.4% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 2.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 26 April 2024. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.8%). New Risk • Nov 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% 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 46% per year over the past 5 years. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.1% net profit margin). Market cap is less than US$100m (₩51.6b market cap, or US$39.8m). New Risk • Aug 26
New major risk - Revenue and earnings growth Earnings have declined by 45% 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 45% per year over the past 5 years. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (₩53.1b market cap, or US$40.1m). Is New 90 Day High Low • Jan 19
New 90-day high: ₩22,200 The company is up 16% from its price of ₩19,100 on 21 October 2020. The South Korean market is up 26% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 35% over the same period. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 20% share price gain to ₩22,200, the stock is trading at a trailing P/E ratio of 12.5x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 17x in the Chemicals industry in South Korea. Reported Earnings • Dec 06
Third quarter 2020 earnings released: EPS ₩626 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ₩11.6b (up 33% from 3Q 2019). Net income: ₩2.76b (up 30% from 3Q 2019). Profit margin: 24% (in line with 3Q 2019).