DBC, Q3 Operating Profit 600 Million KRW... Successful 'Turn to Profit'

[Asia Economy Reporter Jang Hyowon] Daily Blockchain (hereinafter DBC), a specialized ICT (Information & Communication Technology) solution company based on 4th industrial revolution technology that has continued to win public works (SOC) contracts supported by the government's New Deal policy direction, has entered a full-fledged performance turnaround trend.

On the 16th, DBC announced through an earnings disclosure that its consolidated operating profit for the third quarter of this year turned positive to 560 million KRW compared to the same period last year. During the same period, sales increased by about 15.6% to 28.5 billion KRW.

The company explained that with the third quarter consolidated operating profit recording a surplus and cumulative operating profit reaching 2.45 billion KRW, a significant increase of about 3.83 billion KRW compared to the same period last year, it has entered a full-fledged performance turnaround.

DBC cited the main reasons for the turnaround as ▲a business system shift focused on winning public works (SOC) contracts aligned with the government's New Deal policy direction for 4th industrial revolution technology ▲strong performance of consolidated subsidiaries. In particular, as cumulative SOC orders have been continuously expanding recently, the company plans to make every effort to achieve an annual performance turnaround. As of October, DBC's cumulative orders for government projects and domestic business this year amount to approximately 20 billion KRW.

Jo Youngjoong, CEO of DBC, said, “The efforts over the past several years to secure advanced technology centered on the 4th industrial revolution are aligned with the global trend of eco-friendly and digital innovation policy directions, leading to good results this year. Along with comprehensive financial improvements, expectations for record-high performance are gaining momentum, and with various positive changes in both internal and external management environments ahead, we will make multifaceted efforts to create business synergies in a progressive direction.”

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