Netmarble Reports Operating Loss of 11.9 Billion KRW in Q1 Amid Absence of Major New Releases

[Asia Economy Reporter Seungjin Lee] Netmarble posted an operating loss in the first quarter of this year.

Netmarble announced on the 12th that its sales in the first quarter of this year reached 631.5 billion KRW, a 10.7% increase compared to the same period last year. EBITDA (earnings before interest, taxes, depreciation, and amortization) was 45.7 billion KRW, down 43.1% from the same period last year. Operating loss turned to 11.9 billion KRW. Net loss recorded was 51.8 billion KRW.

Overseas sales accounted for 529.4 billion KRW, representing 84% of total sales.

The company explained that the poor performance was influenced by ▲ absence of major new releases in the first quarter ▲ stabilization and decline of previously released games ▲ seasonal factors in overseas business.

Netmarble plans to release various new titles starting from the second quarter. Beginning with the global launch of "Second Country: Cross Worlds," titles such as "Golden Bros," "Disney Mirror Guardians," "Merge Kungya Island," and "Champions Ascension" are scheduled for release.

In the second half of the year, anticipated titles including "Seven Knights Revolution," "Overprime," "Monster Taming: Arena," "Hype Squad," "Grand Cross W," and "Modoo Marble: Meta World" will be sequentially launched within the year.

Netmarble CEO Kwon Young-sik stated, “Due to the ongoing COVID-19 pandemic, the development schedule of new titles was disrupted, resulting in disappointing performance. Starting from the second quarter, we will create an opportunity to take a leap forward in the global gaming market by releasing various new titles based on our own IP and strengthening new businesses such as blockchain and metaverse.”

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