NVT "H1 Sales 36.1 Billion KRW, Up 87.5% YoY... Operating Profit Turns Positive"

[Asia Economy Reporter Hyunseok Yoo] NBT announced on the 13th that its consolidated sales for the first half of this year reached 36.1 billion KRW, an increase of approximately 87.5% compared to the same period last year. Operating profit for the same period turned positive at 800 million KRW.

Consolidated sales for the second quarter were 18.8 billion KRW, a significant increase of about 99.7% compared to the same period last year. Operating profit also turned positive at 200 million KRW.

After recording the highest sales in the first quarter and achieving an operating profit turnaround, NBT continued to set a new record for the highest quarterly sales since its founding in the second quarter, successfully turning a profit compared to last year.

Regarding the main factors behind the improved performance in the first half of this year, the company cited the full-scale contribution of the large-scale partner offerwall system, which was completed last year. NBT’s ‘Addison’ offerwall network business, which focuses on partnerships with major media outlets, requires a certain period from initial investment to revenue generation due to the nature of its key revenue indicators being the activation of both existing and new users.

The company stated that its existing B2C segment, the self-operated point platform ‘Cashslide,’ continues to serve as a steady cash cow. Additionally, with the ‘Addison’ platform, which has established itself as the number one B2B offerwall network brand in Korea within two years of launching new business, now fully contributing to performance, profitability is expected to improve further from the second half of the year.

An NBT representative said, “The growth in partner media expansion for Addison Offerwall has far exceeded initial expectations, causing some increase in early investment costs and resulting in slower profit growth in the first half than originally targeted. However, this is a pre-recognized cost in the business expansion process and an essential step in the continuous profitability increase following the launch of the offerwall network new business, indicating that sustained growth will continue in the future.”

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