[Announcement+] ToBeSoft, Q1 Separate Basis Operating Profit and Net Profit 'Turned Positive'... Bright Turnaround Signal for This Year

[Asia Economy Reporter Hyunseok Yoo] ToBeSoft, a company specializing in enterprise UI (User Interface) and UX (User Experience), succeeded in turning a profit in operating income and net income on a separate basis in the first quarter of this year.

On the 14th, ToBeSoft announced that its operating profit on a separate basis for the first quarter of this year was 5.23 million KRW, and net income was 706.9 million KRW, marking a return to profitability. During the same period, sales amounted to 8.97501 billion KRW, a 3% increase compared to the same period last year.

Operating loss and net loss on a consolidated basis in the first quarter also improved profitability significantly. Operating loss was 869.6 million KRW, reduced by 76% compared to the same period last year, and net loss was 1.38882 billion KRW, down 58% from the previous year. Sales were 10.04405 billion KRW, showing a slight increase compared to the same period last year.

A ToBeSoft official stated, “We are restructuring our business divisions focusing on profitability improvements such as cost ratio enhancement, so even in the first quarter, which is usually a weak performance period, we achieved a separate basis profit turnaround and significantly reduced consolidated losses. Starting from the first quarter, the growth trend in this year’s performance will continue steadily.”

He added, “With the spread of COVID-19, demand for non-face-to-face ICT technologies has increased, leading to growth in related markets and a significant rise in development demand for next-generation UI and UX. Additionally, in the new drug development business conducted by ToBeBio, effective research results are being demonstrated. We expect to achieve new outcomes in both IT and bio businesses this year.”

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