Korea Stock Market Insights

Tag: PHC pile

  • T’way Holdings: Will the Change in Ownership Lead to a Turnaround? H1 2025 Report Analysis

    1. T’way Holdings H1 2025: What Happened?

    T’way Holdings saw impressive revenue growth in the first half of 2025, reaching ₩2.3 billion, a 109.1% increase year-on-year. This growth was driven by the strong performance of the PHC pile business. However, significant losses from T’way Air resulted in a net loss of ₩15.6 billion, keeping the company in the red.

    2. Why These Results?

    • PHC Pile Business Growth: Revenue surged thanks to the recovering construction market and increased demand for large-diameter PHC piles.
    • T’way Air’s Struggles: T’way Air’s poor performance significantly impacted T’way Holdings’ financial health.
    • Change in Ownership: The change in majority ownership to Sono International brings hope for new growth drivers.

    3. What’s Next for T’way Holdings?

    The future of T’way Holdings remains uncertain. Continued growth in the PHC pile business and the new owner’s management capabilities could be positive factors. However, the biggest variable is whether T’way Air can turn things around. The uncertain macroeconomic environment also poses risks.

    4. What Should Investors Do?

    • Monitor PHC Pile Business Profitability: Investors should track revenue growth alongside improvements in profitability.
    • Watch for T’way Air’s Turnaround: T’way Air’s recovery is crucial for T’way Holdings’ own rebound.
    • Analyze the New Owner’s Strategy: Carefully assess the new owner’s business plans and execution capabilities.

    Frequently Asked Questions

    What is T’way Holdings’ main business?

    T’way Holdings’ primary business is the manufacturing and distribution of PHC piles.

    How did T’way Holdings perform in the first half of 2025?

    While revenue increased, the company recorded a net loss due to losses from T’way Air.

    Who is the majority shareholder of T’way Holdings?

    The majority shareholder changed to Sono International in June 2025.

  • T’way Holdings (004870) Q2 2025 Earnings Analysis: Revenue Growth But Profits Remain Elusive

    What Happened?

    T’way Holdings reported KRW 2.3 billion in revenue for Q2 2025, significantly exceeding the market expectation of KRW 1.1 billion. However, operating income and net income remained negative at KRW -1 billion and KRW -15.6 billion, respectively.

    Why These Results?

    The revenue increase is attributed to higher sales volume in the PHC pile business. However, the challenging industry environment, losses from investments in affiliates, and increased costs prevented profitability improvements.

    What’s Next?

    • Short-term Outlook: Revenue growth is positive, but continued losses limit upward momentum for the stock price. The possibility of a construction market slowdown is also a concern.
    • Long-term Outlook: Sono International’s business strategy and T’way Holdings’ ability to improve profitability are key variables. Growth potential exists if successful restructuring and a construction market recovery occur.

    What Should Investors Do?

    • Monitor Q3 earnings to confirm continued revenue growth and potential profitability improvements.
    • Pay attention to Sono International’s specific business plans and the performance of T’way Air.
    • Consider construction market indicators, litigation risks, and volatility in raw material prices and exchange rates.
    What is T’way Holdings’ main business?

    T’way Holdings’ primary business is manufacturing and selling PHC piles.

    What was T’way Holdings’ revenue in Q2 2025?

    KRW 2.3 billion.

    Who is the largest shareholder of T’way Holdings?

    Sono International.