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KTC.N

ISIN: US48268K1016
SEDOL: 2419875

Rating:

SELL

Target Price:

10.68 USD

Investment Horizon:

6 to 12 months
24th Apr 2009 View Report   Download

1Q 09 News Alert

Although KT Corporation’s (KT Corp) 1Q 09 revenues were below our estimate, EBITDA, operating and net margin were above our estimates. Going forward, we expect that the merger of KT Corp with KT Freetel co., Ltd. (KTF), will help to fend off competition and reduce marketing expenses, thereby positively impacting margins. Thus in light of these factors and considering the current price levels…

12th Feb 2009 View Report   Download

4Q 08 Update Report

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On 20th January 2009, KT Corp announced that it would merge with its wireless unit KTF by buying the remaining stake (approximately 46%) of KTF. We believe that this merger will help KT Corp to attract and retain customers by offering them bundled products. Furthermore, we expect increased subscriber-base due to an anticipated increase in Triple Play service (TPS) products. Although the company will be…

23rd Jan 2009 View Report   Download

4Q 08 News Alert

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Although KT Corporation’s (KT Corp) 4Q 08 and FY 2008 revenues were in line with our estimate, operating margin was below our estimate while adjusted1 net income was above our estimate. Going forward, we expect that the merger of KT Corp with KT Freetel co., Ltd. (KTF), will help to fend off competition. Furthermore, due to the merger we believe the company will be able to reduce marketing expenses, thereby positively impacting…

20th Jan 2009 View Report   Download

Company News Alert

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On 20 January 2009, KT Corporation (KT Corp) announced that it would merge with its wireless unit KT Freetel co., Ltd. (KTF), by buying the remaining stake (approximately 46%) of KTF. Going forward, we expect that the merger will help KT Corp to fend off competition. Furthermore, due to the merger we believe the company would be able to save on marketing…

19th Dec 2008 View Report   Download

Company News Alert

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We believe the recent increase in KT Corporation (KT Corp) common stock is due to strong upswing in Asian equity markets. However. going forward, we expect KT Corp’s revenues to decline over the next two years due to an anticipated decline in Telephone and LM revenues. In addition, we expect EBITDA margin to decline due to an increase in marketing and cost of goods sold expenses. Furthermore, we expect operating margin to…