Hancom, 1Q Operating Profit 13.2 Billion KRW... 7.9% Decrease YoY

[Asia Economy Reporter Kang Nahum] Hancom announced on the 13th that it recorded consolidated sales of 89.6 billion KRW and operating profit of 13.2 billion KRW in the first quarter of this year.

Sales increased by 1.4% compared to the same period last year, while operating profit decreased by 7.9%.

On a separate basis, sales reached 27 billion KRW and operating profit 9.2 billion KRW, achieving growth of 0.9% and 22.7% respectively compared to the same period last year, with an operating profit margin of 34.1%, up 6% from the previous year.

Since last year, Hancom Office’s B2B and B2C new customers have been increasing every quarter, and especially with the spread of untact services, the cumulative subscribers of the cloud office service 'Hancom Space' surpassed 10 million as of the end of February, marking a stable transition to cloud services.

Hancom Life Care, a consolidated subsidiary preparing to enter the KOSPI in the second half of this year, achieved sales of 22.3 billion KRW and operating profit of 3.3 billion KRW despite the first quarter generally being an off-season.

In addition to its existing core businesses such as firefighting air respirators and protective clothing, the company is focusing on new businesses that combine IT safety industries, such as the 'Fire Safety Platform' utilizing various disaster-related data and the 'Drone-based Fire Monitoring System' linked with an unmanned drone platform, aiming to expand new growth engines this year.

Hancom plans to increase the proportion of cloud and service sectors this year. It is preparing for the global launch of 'Hancom Works,' a work collaboration platform that integrates office software, video conferencing, email, and schedule management, and through the open operating system (OS) 'Hancom Gureum,' it will actively target the cloud PC sector by partnering with cloud companies such as NHN and KT.

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