[Announcement+] Daewon Media Q3 Operating Profit 2.8 Billion KRW... Up 1039% YoY

The cumulative sales on a consolidated basis reached 99.4% of last year's annual sales.

[Asia Economy Reporter Geum Bo-ryeong] Daewon Media announced that its consolidated operating profit for the third quarter reached 2.77 billion KRW, marking a 1039.4% increase compared to the same period last year. During the same period, sales rose by 87.2% to 69.79 billion KRW. This growth was driven by increased sales in the distribution business of console games and toys, based on management efficiency, as well as expanded sales in broadcasting and online publishing businesses of its subsidiaries.

On a separate basis, operating profit turned positive to 800 million KRW compared to the same period last year. Sales were recorded at 54.73 billion KRW, a 107.7% increase.

Notably, the cumulative consolidated sales up to the third quarter reached 99.4% of last year's total annual sales. On a separate basis, sales exceeded last year's annual figures. The cumulative net profits of subsidiaries Daewon CI and Daewon Broadcasting for the third quarter also surpassed their respective annual results from the previous year.

Daewon Media stated, "The fourth quarter is the peak season for the content industry, and continuous achievements are expected in the console game and toy distribution businesses. Despite many difficulties in domestic and international business conditions due to the novel coronavirus disease (COVID-19), we will continue to promote structural improvements toward non-face-to-face and online businesses, along with sustained growth in online publishing businesses such as webtoons and web novels, based on management efficiency."

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