[Announcement+] Aton Reports 32.5 Billion KRW in Sales Last Year... Record 'Highest' Ever

[Asia Economy Reporter Jang Hyowon] Fintech company Aton (CEO Kim Jongseo) announced that its consolidated sales and operating profit continued to grow last year.

On the 14th, Aton disclosed that its sales amounted to 32.5 billion KRW and operating profit to 4.1 billion KRW last year, representing growth of 16.0% and 16.8% respectively compared to the previous year. However, a derivative valuation loss of 15.2 billion KRW on redeemable convertible preferred shares (RCPS) resulted in a net loss of 11.2 billion KRW for the period.

The derivative valuation loss was a one-time loss incurred as some of the redeemable convertible preferred shares issued before Aton’s KOSDAQ listing were converted into common shares last year. It is a loss related to derivative valuation under International Financial Reporting Standards (IFRS) with no cash outflow, and thus is unrelated to the company’s value.

Aton’s external growth was driven by its core businesses: the fintech security solutions segment and the fintech platform segment.

By business segment, sales from fintech security solutions reached 15 billion KRW, up 19.8% year-on-year, while sales from the fintech platform surged 196.0% to 4.6 billion KRW. On the other hand, the existing business segments, T-money solutions and smart finance, saw a decline in performance.

Kim Jongseo, CEO of Aton, said, “With the implementation of open banking this year, we expect the upstream industry to expand further. We will focus on diversifying our customer portfolio and business to enhance shareholder value compared to last year.”

Meanwhile, Aton plans to secure numerous major financial clients such as large banks and securities firms this year, focusing on the fintech security solutions and fintech platform business segments. Additionally, fintech platform services in the automotive finance sector and cloud-based security solutions are also set to be launched soon.

This content was produced with the assistance of AI translation services.