Corporate Logo(source: cheil.com)
Samsung Securities said on September 24 that Cheil Worldwide(030000) is likely to see its dividend appeal stand out as the year-end approaches. The brokerage maintained its “Buy” rating and a target price of 25,000 won.
As of 10:03 a.m., Cheil Worldwide was trading at 20,950 won, up 0.96% from the previous session.
Choi Min-ha, an analyst at Samsung Securities, projected third-quarter gross profit at 446.1 billion won, up 4.1% year-on-year, while operating profit is expected to decline 2.3% to 93.4 billion won, slightly below the market consensus of 95.4 billion won. He explained that last year’s third quarter had a high base due to promotions and events linked to the 2024 Paris Olympics as well as deferred marketing budgets from non-affiliate advertisers, which were executed during that period.
Choi added that overseas gross profit will continue to drive overall growth, supported by the acquisition of a North American subsidiary, but noted that growth will be slower compared with the first half and pressured by higher labor costs, leading to a decline in operating profit. He also pointed out that digital businesses, including dot-com and online store operations, are expected to sustain steady profitability.
“Cheil Worldwide follows a policy of making a single annual dividend payment based on the year-end record date,” he said. “Although operating profit increased in the first half, net profit was weaker due to valuation losses on convertible bonds and foreign exchange losses.”
He added, “Considering that significant impairment charges related to subsidiaries’ goodwill and trademarks were recognized in the fourth quarter of last year, annual net profit this year is likely to remain at a similar level.”
*[KOSPI] Cheil Worldwide(030000) is a Samsung-affiliated advertising agency that provides advertising and marketing solutions to domestic and global markets. The market capitalization is 2.387 trillion won (as of September 23, 2025, closing price).
Corporate Logo(source: cheil.com)
Samsung Securities said on September 24 that Cheil Worldwide(030000) is likely to see its dividend appeal stand out as the year-end approaches. The brokerage maintained its “Buy” rating and a target price of 25,000 won.
As of 10:03 a.m., Cheil Worldwide was trading at 20,950 won, up 0.96% from the previous session.
Choi Min-ha, an analyst at Samsung Securities, projected third-quarter gross profit at 446.1 billion won, up 4.1% year-on-year, while operating profit is expected to decline 2.3% to 93.4 billion won, slightly below the market consensus of 95.4 billion won. He explained that last year’s third quarter had a high base due to promotions and events linked to the 2024 Paris Olympics as well as deferred marketing budgets from non-affiliate advertisers, which were executed during that period.
Choi added that overseas gross profit will continue to drive overall growth, supported by the acquisition of a North American subsidiary, but noted that growth will be slower compared with the first half and pressured by higher labor costs, leading to a decline in operating profit. He also pointed out that digital businesses, including dot-com and online store operations, are expected to sustain steady profitability.
“Cheil Worldwide follows a policy of making a single annual dividend payment based on the year-end record date,” he said. “Although operating profit increased in the first half, net profit was weaker due to valuation losses on convertible bonds and foreign exchange losses.”
He added, “Considering that significant impairment charges related to subsidiaries’ goodwill and trademarks were recognized in the fourth quarter of last year, annual net profit this year is likely to remain at a similar level.”
*[KOSPI] Cheil Worldwide(030000) is a Samsung-affiliated advertising agency that provides advertising and marketing solutions to domestic and global markets. The market capitalization is 2.387 trillion won (as of September 23, 2025, closing price).