External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>For 2Q25, Korea Gas Corporation (KOGAS) posted consolidated revenue of W7.63tr (+1.9% YoY), driven by higher city gas sales volume (+5.5% YoY) and increased revenue from certain overseas resource development projects, including Zubair.</li><li>Operating profit came in at W404.6bn (-13.1% YoY), beating the market consensus of W398.1bn.</li><li>The decline was due to the normalization of wholesale supply cost returns and reduced interest expenses on raw material receivables, following the patterns seen in 1Q25.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

For 2Q25, Korea Gas Corporation (KOGAS) posted consolidated revenue of W7.63tr (+1.9% YoY), driven by higher city gas sales volume (+5.5% YoY) and increased revenue from certain overseas resource development projects, including Zubair.Operating profit came in at W404.6bn (-13.1% YoY), beating the market consensus of W398.1bn.The decline was due to the normalization of wholesale supply cost returns and reduced interest expenses on raw material receivables, following the patterns seen in 1Q25.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KOGAS (036460 KS/Hold)Financial Structure Improvement a Positive