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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hanwha Aerospace Co., Ltd.    A012450   KR7012450003

HANWHA AEROSPACE CO., LTD.

(A012450)
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Hanwha Aerospace : and Genetec help Planet Fitness boost security and performance

02/07/2020 | 09:06am EST

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Recently, Planet Fitness, with the help of their preferred system integrator Adirondack Direct, incorporated a video surveillance solution from Hanwha Techwin and Genetec that not only enhances security, but also improves operations. When leadership evaluated security at their 70-plus corporate run locations a few years ago, they chose to incorporate a video surveillance solution that would address security needs and would be advanced enough to help with management and operations.

Each of Planet Fitness' corporate-owned clubs throughout North America is outfitted with approximately eight to 15 video cameras that provide around the clock coverage of the parking lot, lobby, break room, the fitness area where members workout and other key areas - without invading private areas, such as locker rooms and other intimate spaces. After issuing a Request for Proposal, Planet Fitness Senior Vice President of Corporate Club Operations Jim Esposito said they tested several of the leading camera and video management software (VMS) solutions, but ultimately decided on Hanwha video surveillance cameras managed by the Genetec Security Center platform. Esposito said they wanted to use Hanwha's 360-degree cameras in particular because they provide more coverage, yet they save in hardware expenses because fewer cameras are needed.

360-degree fisheye camera

Hanwha's SNF-8010 5 MP 360-degree fisheye camera provides 5MP at 20FPS which captures smoother video at a higher framerate with true day and night function. Built-in on-camera de-warping allows instant access to PTZ, quad view, and panorama views. Alarm triggers for the Hanwha SNF-8010 include intelligent motion detection, audio detection, tampering detection, alarm input and network disconnection.Adirondack Direct also offers a 24-hour monitoring service and liaisons with law enforcement when needed

A typical system setup at Planet Fitness includes placing cameras 25 feet from the wall and 50 feet apart which provides almost 2,000 square feet of coverage per camera. Club managers, regional managers and corporate employees manage the system via the Genetec Security Center which provides convenient bookmarks of recorded incidents so that - instead of time spent searching through video - events are already tagged. Adirondack Direct also offers a 24-hour monitoring service and liaisons with law enforcement when needed.

'We knew that Planet Fitness would need thousands of video surveillance cameras for this project and it's very important to consider reliability and functionality as well as durability,' said Adirondack Direct Director of Security and Technology, Tim Collins. 'Hanwha has the lowest customer return number and that means that they manufacture products that aren't sidelined by constant replacement and repairs.'

Collins said Adirondack Direct has long recommended Genetec's Security Center for video surveillance management because it provides the best open-architecture platform, robust features and is easy to use. Security Center blends IP security systems within a single intuitive interface to simplify operations and empowers organisations through enhanced situational awareness, unified command and control and connectivity to the cloud.

When a Lunk Alarm is pressed, Genetec's Security Center creates a bookmark of the event which provides video evidence of what preceded the alarm and how it was managed

Business intelligence

While the Hanwha-Genetec solution has provided an excellent security system - as well as protection against liability for slip and fall incidents - it's also improved operations in multiple ways by providing invaluable business intelligence, said Esposito.

Planet Fitness has a judgement-free environment for individuals who want to work out, but don't want to have to endure the negatives so often found in gyms: loud grunts, the clanging of dropped weights and aggressive behavior. Anyone engaging in obnoxious behavior will likely be the recipient of a Lunk Alarm and the flashing lights, sirens and unwanted attention that accompanies it.Use of the Lunk Alarm - or lack of use - can be an indicator of how the club is operating

Use of the Lunk Alarm - or lack of use - can be an indicator of how the club is operating. In order to monitor and evaluate use of the Lunk Alarms, Adirondack Direct has integrated the Lunk Alarm into the Hanwha-Gentec video solution. When a Lunk Alarm is pressed, Genetec's Security Center creates a bookmark of the event which provides video evidence of what preceded the alarm and how it was managed.

Potential medical emergencies

Gyms typically have automated external defibrillators (AEDs) in the event a member suffers a medical emergency. At Planet Fitness facilities outfitted with the Hanwha-Genetec solution, once an AED is removed from its cabinet, a sensor is activated to shut off the music in the club to provide a calmer atmosphere. The system also creates a bookmark in the VMS and notifies managers and regional managers that an AED has been deployed.

The Hanwha-Genetec Planet Fitness solution also provides key employee analysis that can help managers identify areas of improvement. Each facility has rubber floors that must be cleaned daily and Adirondack Direct has placed a sensor on a floor scrubber that creates a bookmark and recording in Security Center when the device is moved. Video evidence verifies whether the floor was actually cleaned or if the scrubber was just relocated.

Break room sensors

Each break room is outfitted with a sensor that creates a video bookmark every time the door is opened. If an employee visits too often, Planet Fitness management can reorient that employee on the proper policies and procedures. For day to day efficiencies, video analytics can be a valuable tool. If an employee is constantly leaving the front desk to go to a storage closet for a particular item, they can make changes including moving the item closer to the front desk.

'If during an overnight shift the camera indicates that there was no motion at the front desk for a prolonged period of time, then that's a problem,' said Esposito. 'We expect someone to be in that position greeting and welcoming members so if someone isn't there, the video can help us understand why.'If an employee visits the break room too often, Planet Fitness management can reorient that employee on the proper policies and procedures

A big question for Planet Fitness - that can be answered via video analytics - is have they been losing sales opportunities without realising it?

'What we're exploring now is a virtual line that counts the number of people that come and go in the club,' said Esposito. 'We know how many people check in. So, if a club checks in 500 people in a day, but there are 600 people that enter the door, that can be lost revenue.'

Esposito said they chose Hanwha cameras and the Genetec platform because they knew that they needed a solution that was at the forefront of technology, with the flexibility to grow with them and meet their future needs.

He added the solution delivers a safe environment that is appreciate by everyone. 'It's somewhat of a security blanket for our members and employees,' he said. 'They appreciate our no intimidation mantra and the fact that we have created this safe and secure environment that offers a judgement free zone where people can do their own thing.'

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HANWHA AEROSPACE CO., LTD. -5.14% 36900 End-of-day quote.29.47%
PLANET FITNESS, INC. -2.88% 86.09 Delayed Quote.10.90%
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Financials
Sales 2020 5 320 B 4,73 B 4,73 B
Net income 2020 110 B 0,10 B 0,10 B
Net Debt 2020 703 B 0,63 B 0,63 B
P/E ratio 2020 17,5x
Yield 2020 -
Capitalization 1 867 B 1 655 M 1 662 M
EV / Sales 2020 0,48x
EV / Sales 2021 0,42x
Nbr of Employees -
Free-Float 65,9%
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Mean consensus BUY
Number of Analysts 12
Average target price 39 227,27 KRW
Last Close Price 36 900,00 KRW
Spread / Highest target 27,4%
Spread / Average Target 6,31%
Spread / Lowest Target -7,86%
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Managers and Directors
NameTitle
Hyeon-Woo Shin Chairman & Chief Executive Officer
Young-Han Kim Senior Managing Director & Head-Finance
Chae-Joon Lee Managing Director & Head-Compliance Support
Sang-Hee Kim Independent Director
Kang-Soo Choi Independent Director
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