Pearl Abyss Reports 73% Drop in Operating Profit Last Year... "Focusing on Global IP Expansion and China Launches This Year"

[Asia Economy Reporter Seungjin Lee] Pearl Abyss posted a disappointing performance last year, with operating profit dropping by more than 70% compared to the previous year due to a gap in new releases and the delayed launch of Black Desert Mobile in China. In response, Pearl Abyss plans to accelerate new game releases and its entry into the Chinese market this year to stage a rebound.

Pearl Abyss announced on the 15th that its consolidated operating profit for last year recorded 43 billion KRW, a 72.6% decrease compared to the previous year. During the same period, sales fell 17.4% to 403.8 billion KRW, and net profit decreased by 39.4% to 61.1 billion KRW.

In the fourth quarter, sales reached 118 billion KRW, and operating profit was 25.7 billion KRW, representing increases of 11.7% and 28.5% respectively compared to the same period last year. Net profit was 10.8 billion KRW, soaring 881.8% year-over-year.

Looking at the fourth-quarter results, 'Black Desert' accounted for 81% of annual overseas sales through stable service of its intellectual property (IP). Among total sales, the PC and console platform share was 75%. It was the only domestic MMORPG to be named in the ‘2021 Best Seller’ category on the game distribution platform Steam and was selected as a ‘Korean game preferred overseas’ by the Korea Creative Content Agency.

In December last year, the ‘Calpheon Banquet’ user meeting for ‘Black Desert’ and the ‘Character Reboot’ update released in the same month led to a 165% increase in new users (230% increase in North America and Europe).

Pearl Abyss plans to further strengthen its competitiveness in the global market in 2022 based on IP expansion. First, it is preparing for the Chinese service of Black Desert Mobile. The company recently completed its third successful test, and the game was selected as the ‘Most Anticipated Game of 2022’ on China’s largest gaming site, ‘17173,’ raising expectations locally.

Jok Seok-woo, Pearl Abyss CFO, said, “While continuing stable live services for Black Desert and EVE, we will focus on the launch of Black Desert Mobile in China and marketing of new IPs,” adding, “In 2022, we will drive financial growth through IP expansion and lineup diversification with new releases.”

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