1. Dream Security Q2 2025 Performance: What Happened?

Dream Security achieved revenue of KRW 149 billion in H1 2025, a 28.3% increase compared to the same period last year. However, operating profit saw only a slight increase, and net profit experienced a significant decline. Q2 2025 net profit was -KRW 6 billion, marking a shift into negative territory.

2. Analyzing the Profit Decline: Why Did This Happen?

Despite revenue growth, the decline in profitability stems primarily from high financial costs, valuation losses on investment assets, and high depreciation costs in the rental business. The company’s high debt-to-equity ratio, exceeding 270%, poses a significant burden in a rising interest rate environment.

3. Dream Security’s Future Outlook: Opportunities and Threats

The growth of the information security market and expansion of the rental market present significant opportunities for Dream Security. However, the company’s high debt ratio, rising interest rates, and the potential for an economic slowdown pose significant threats.

4. Action Plan for Investors: What Should You Do?

Investors considering Dream Security should closely monitor its profitability, strategies for managing interest rate and exchange rate fluctuations, and new business performance. A long-term perspective focusing on fundamental changes in the company is more important than short-term stock price fluctuations. The current investment recommendation is neutral.