1. What Happened? : Wireable’s H1 2025 Earnings Analysis
Wireable’s H1 2025 revenue decreased by 27.8% year-on-year to KRW 29.1 billion. While base station fees grew by 5.3%, a sharp 57.6% decline in telecommunication facility revenue dragged down the overall performance. Operating profit and net profit also decreased by 23.1% and 29.6%, respectively.
2. Why These Results? : Analysis of the Decline in Performance
The main reason for the decline in telecommunication facility revenue is the decrease in 5G quality improvement projects. The decrease in other revenues also contributed to the decline in performance. On the other hand, the base station fees segment maintained steady growth and secured a stable cash flow.
3. What’s Next? : Future Outlook and Growth Drivers
Wireable is seeking to secure growth engines by entering new businesses such as information and communications, concert hall operation, and food and beverage. The successful establishment of new businesses, along with the continued growth of the core base station fees business, will be key variables. Furthermore, efforts to manage costs for profitability improvement are also essential.
4. What Should Investors Do? : Investment Strategy and Key Checkpoints
The investment opinion on Wireable is ‘Neutral’. Investment decisions should be made by comprehensively considering the possibility of recovery in telecommunication facility revenue, the performance of new businesses, profitability improvement strategies, and macroeconomic impacts. In particular, close monitoring of the specific performance of new businesses and whether profitability improves is necessary.
How did Wireable’s core business perform in H1 2025?
Revenue from base station fees increased by 5.3% year-on-year to KRW 17.37 billion.
What are the main reasons for Wireable’s decline in performance?
The sharp decline (-57.6%) in telecommunication facility revenue and the decrease (-41.4%) in other revenues are the main reasons.
What is Wireable’s future growth strategy?
Wireable plans to focus on securing growth engines by entering new businesses such as information and communications, concert hall operation, and food and beverage, as well as improving the profitability of existing businesses.
What is the investment opinion on Wireable?
The current investment opinion is ‘Neutral’, and close monitoring of the performance of new businesses and profitability improvement is necessary.