KOGAS cuts September sales 8.00 percent: Hanwha sets KRW 50,000 target for KOGAS stock

Published on 10/20/2026 at 01:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KOGAS cut September gas sales 8.00 percent year on year on October 13, 2026. Hanwha set a KRW 50,000 target for KOGAS stock.

Demand and earnings diverge

On October 13, 2026, KOGAS reported September gas sales of 1.76 million tons, down 8.00 percent year on year.
First-half 2026 operating profit rose 28.00 percent to KRW 1.6 trillion while revenue fell 5.20 percent.
Hanwha Securities had a Buy view and a KRW 50,000 target on September 18, 2026.

KOGAS, KR7036460004, Illustration mit AI erstellt.

KOGAS (ISIN KR7036460004) reported September gas sales of 1.76 million tons on October 13, 2026, down 8.00 percent from the same month a year earlier, while Hanwha Securities maintained a Buy view with a KRW 50,000 target on September 18, 2026. The figures leave investors balancing weaker demand against a sharp first-half earnings improvement.

September sales point lower

According to Digital Today, city-gas sales increased 4.80 percent year on year to 955,000 tons in September. Power-generation sales fell 19.70 percent to 809,000 tons, making the end-market mix the key explanation for the total decline.

What does the sales decline mean?

The earnings picture was more constructive in the first half of 2026. TBC reported consolidated revenue of KRW 19.3 trillion, down 5.20 percent year on year, while operating profit rose 28.00 percent to KRW 1.6 trillion and net income increased 96.10 percent to KRW 887.1 billion. Lower liquefied natural gas import costs reduced pressure on the cost base.

The contrast matters because volume weakness and profit recovery are moving in opposite directions. The September release also recorded total gas sales below the prior year, while the first-half operating margin improved to 8.21 percent from 6.09 percent, calculated from the reported revenue and operating-profit figures.

Analyst target and next date

StockHub listed Hanwha Securities with a Buy view and a KRW 50,000 target dated September 18, 2026. Against the KRX price of KRW 36,800 on October 19, 2026 at 3:30 p.m. KST, that target is 35.87 percent higher, using the same currency.

Investing.com lists March 23, 2027 as the next KOGAS earnings date. The date gives the market a defined point for testing whether stronger margins can offset softer gas demand.

KRW 36,800 on the KRX

Korea Gas Corporation had a market capitalization of KRW 3.2 trillion on October 19, 2026. Its 52-week KRX range was KRW 31,150.00 to KRW 45,700.00, placing the dated price below the yearly high while leaving the stock above its yearly low.

The KRX quote stood at KRW 36,800 on October 19, 2026 at 3:30 p.m. KST. The combination of a 28.00 percent first-half operating-profit increase and an 8.00 percent September sales decline keeps earnings quality and demand trends at the center of the KOGAS stock case.