Korea Stock Market Insights

Tag: T’way Holdings

T’way Holdings: Will the Change in Ownership Lead to a Turnaround? H1 2025 Report Analysis
Can T’way Holdings Finally Take Off?

T’way Holdings’ H1 2025 report is out. Despite positive developments like growth in the PHC pile business and a change in majority ownership, the continued struggles of T’way Air are holding the company back. This article analyzes T’way Holdings’ current situation and future prospects, highlighting key points for investors.
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.
08/21/2025
T’way Holdings (004870) Q2 2025 Earnings Analysis: Revenue Growth But Profits Remain Elusive
Can T’way Holdings Escape the Red Despite Revenue Growth?

T’way Holdings has released its Q2 2025 earnings. While revenue surpassed market expectations, both operating and net income remained in the red. What’s the outlook for T’way Holdings after the recent change in majority shareholder to Sono International? This article analyzes T’way Holdings’ Q2 results and offers investment strategies.
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.
08/21/2025
YeRimDang: Post-T’way Holdings Sale, A Mixed Bag of Financial Strength and Core Business Weakness
Can YeRimDang Achieve a Turnaround?

YeRimDang has successfully improved its financial structure by selling T’way Holdings. However, the sluggish performance of its core publishing business continues to be a drag. This article provides an in-depth analysis of YeRimDang’s Q2 2025 earnings and highlights key points and future investment strategies for investors.
1. What Happened? YeRimDang’s Q2 2025 Earnings Analysis

YeRimDang’s Q2 2025 results present a mixed bag. While the sale of T’way Holdings significantly boosted liquidity, the core publishing business continues to struggle. Revenue was 2.5 billion KRW, operating profit recorded a loss of 200 million KRW, and the net profit of 139.5 billion KRW is attributed to one-off gains from discontinued operations.

2. Why These Results? Reasons for the Sluggish Performance

Structural factors such as the downturn in the publishing market, intensified competition, and declining birth rates have contributed to YeRimDang’s poor performance. The lack of clear growth drivers beyond the ‘Why? Series’ is also a major factor.

3. What’s Next? Future Outlook and Investment Strategies

YeRimDang’s future stock price hinges on securing sustainable growth drivers. Efforts such as expanding content using the ‘Why? Series’ IP, digital transformation, and developing new businesses are crucial. While the improved financial structure is positive in the short term, improvement in the core business’s profitability is key in the mid-to-long term. The investment recommendation is ‘Hold,’ and investors should monitor the progress of new business development and the performance of the digital content business.

4. Action Plan for Investors
- Short-term investors: Be mindful of short-term stock price volatility while anticipating the effects of improved financial structure.
- Mid-to-long-term investors: Continuously monitor the improvement in core business performance and securing new growth drivers.
- All investors: Consistently gather information on publishing market trends and changes in the competitive landscape.
Frequently Asked Questions

What are the key takeaways from YeRimDang’s Q2 earnings?

While the sale of T’way Holdings improved the financial structure, the core publishing business continues to struggle. The net profit of 139.5 billion KRW is a one-off gain, and the operating profit is still negative.

What are YeRimDang’s future investment strategies?

Securing sustainable growth drivers through content expansion using the ‘Why? Series’ IP, digital transformation, and new business development are crucial.

Should I invest in YeRimDang?

The investment recommendation is ‘Hold.’ While improved financials are positive in the short term, improvement in the core business performance is crucial in the long term. Investors should monitor the progress of new business development and the performance of the digital content business.
08/19/2025