[Click eStock] "Mr. Blue, Growth Momentum Expected in the Second Half"

[Asia Economy Reporter Jang Hyowon] Hanwha Investment & Securities analyzed on the 9th that Mr. Blue is expected to have growth momentum in the second half of the year.

Kim Dongha, a researcher at Hanwha Investment & Securities, stated in a report on the same day, “Mr. Blue's content division performance in the first quarter recorded 9 billion KRW, a 17% increase compared to the same period last year, and operating profit increased by 24% to 1.57 billion KRW,” adding, “This was due to the profitability improvement effect from the subscription price increase.”

Researcher Kim said, “From the second quarter, Orange Studio, Myanmar, and Blue Comics will collaborate to release three new martial arts titles including romance and fantasy genres, and Blue Comics will independently release five webtoon titles,” and predicted, “If successful, not only external growth but also profitability improvement will be possible, greatly enhancing the value of the content division.”

Furthermore, he projected, “The annual performance of the game division is expected to increase by 17% year-on-year to 38.1 billion KRW, and operating profit is expected to rise by 9% to 10.4 billion KRW,” adding, “Since the overseas performance assumptions are conservative, there is significant upside potential if overseas expansion succeeds.”

He said, “Mr. Blue has not shown a clear direction after quickly recovering from the sharp decline caused by the novel coronavirus infection (COVID-19),” but added, “Considering the expected growth in the content division and the momentum of overseas expansion in the game division, there is sufficient potential for stock price appreciation.”

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