Interpark Reports Operating Profit of 16.3 Billion KRW Last Year, Up 268% YoY

"Background of Stable Performance in 2019: Strengthening Service Competitiveness and Management Efficiency"

[Asia Economy Reporter Kim Cheol-hyun] Interpark announced its 2019 annual and fourth-quarter business results through a disclosure to the stock exchange on the 12th. Interpark's annual operating profit and sales for last year on a consolidated basis recorded 16.3 billion KRW and 509.3 billion KRW, respectively. Although sales slightly decreased by 3.6%, they remained at the previous year's level, and profitability improved significantly, with operating profit growing by 268% compared to 2018. The tour business was somewhat affected by external environmental issues such as the boycott movement against Japan that started in July, but the company focused on profitability in other areas such as shopping and tickets, resulting in meaningful achievements.

The fourth-quarter operating profit also recorded 4.4 billion KRW, a 115% increase compared to the same period last year. On a separate basis, operating profit was 6.2 billion KRW and sales were 114.5 billion KRW, exceeding market expectations with strong performance. The separate basis fourth-quarter results showed a 273% growth in operating profit compared to the same period last year, with sales remaining at a similar level. In the fourth quarter, part of the performance from the 2020 Tokyo Olympic ticket sales system construction project, which Interpark secured and is currently progressing, was reflected.

Interpark announced through the disclosure that it plans to implement a year-end dividend of 150 KRW per share, a 50% increase compared to the previous year, to enhance shareholder value. An Interpark official stated, "Despite the difficult business environment since the second half of last year, Interpark was able to achieve solid results based on its technological capabilities, professional expertise, and a more stable business portfolio compared to competitors," adding, "The strategies we have strongly pursued, such as service and platform upgrades and management efficiency improvements, have produced these results."

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