1. What Happened?: Q2 2025 Earnings Analysis

GridWiz exceeded market expectations in Q2 2025, reporting revenue of KRW 26.1 billion, operating profit of KRW 1.4 billion, and net income of KRW 1.6 billion, achieving a successful turnaround.

2. Why?: Drivers of the Turnaround and Core Business Analysis

This turnaround is attributed to the solid performance of the Demand Response (DR) business and the recovery of the Electric Mobility (EM) business. The DR business, in particular, generates stable profits based on a high customer retention rate of 97%, and government policies supporting demand management further enhance its growth potential. The EM business is also gaining momentum with the growth of the electric vehicle market and its overseas expansion strategy.

  • Key Business 1: Demand Response (DR) – Accounts for 73.9% of total revenue, high customer retention rate, benefits from government policies
  • Key Business 2: Electric Mobility (EM) – Benefits from EV market growth, overseas market expansion
  • Future Growth Drivers: ESS and Solar Power (PV) – Efforts to preemptively capture the future energy market such as V2G and VPP

3. So What?: Investment Opportunities and Risks

Considering the stability of the DR business, the growth potential of the EM business, and investments in future businesses, GridWiz appears to be an attractive investment. However, potential risk factors such as declining consolidated revenue, volatility in exchange rates and raw material prices, and interest rate fluctuations should not be overlooked.

  • Opportunities: Q2 turnaround, core business growth, benefits from government policies
  • Risks: Declining consolidated revenue, raw material price and exchange rate volatility, intensifying competition

4. Investor Action Plan

Investors considering GridWiz should closely monitor the performance of the EM business in overseas markets, the commercialization of new businesses, and trends in key macroeconomic indicators. A ‘wait-and-see’ or ‘conservative approach’ is recommended, emphasizing the importance of thorough analysis before making investment decisions.