Cheil Worldwide Reports Q3 Operating Profit of 93.1 Billion KRW, Up 32.7% YoY (Comprehensive)

[Asia Economy Reporter Jeon Jinyoung] Cheil Worldwide announced on the 26th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 93.1 billion KRW, a 32.7% increase compared to the same period last year. Sales reached 1.126 trillion KRW, up 31.9% year-on-year. Net profit increased by 27.48% to 64.5 billion KRW. Gross profit, calculated by subtracting cost of sales from sales, was 402 billion KRW, a 23% increase compared to the same period last year.

The digital business grew by 30% year-on-year through strengthening digital services such as data, e-commerce, and digital content production. As of the third quarter of this year, the digital business accounted for 52% of Cheil Worldwide's total performance.

Overseas, double-digit growth continued in all regions. In particular, the North American region achieved a 56% increase in third-quarter performance compared to the previous year, driven by increased digital marketing agency volume from major advertisers, expansion of agency areas, and successful development of new non-affiliated advertisers. Additionally, performance increased year-on-year in China (33%), the Middle East (46%), Southeast Asia (36%), and Latin America (33%).

Cheil Worldwide stated, "In the remaining second half of the year, we will proactively respond to changes in the business environment by providing sales-driven marketing, offline marketing aligned with the endemic, and integrated digital services including dot-com, commerce, media, and customer relationship management (CRM)." They added, "We plan to reorganize into a sustainable business structure centered on digital growth and continuously expand new business areas."

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