Duzon Bizon Reports Q3 Revenue of 77.4 Billion KRW and Operating Profit of 11.5 Billion KRW

[Asia Economy Reporter Jang Hyowon] Duzon Bizon (CEO Kim Yongwoo) announced on the 27th through its Q3 earnings disclosure that it achieved consolidated sales of 77.4 billion KRW and operating profit of 11.5 billion KRW. This represents a 0.1% decrease in sales and a 33.2% decrease in operating profit compared to the same period last year.

This third quarter proved the stability and growth potential of the business through solid order performance that increased compared to the same period last year. Despite factors such as market downturn caused by COVID-19 and delays in service provision due to manpower shortages in the IT industry, sales were maintained at last year's level. However, operating profit slightly declined due to increased fixed costs and one-time expenses such as labor costs and commission fees for the new digital healthcare business.

Nevertheless, sales are showing an improving trend due to balanced growth across all business divisions, and new businesses are becoming more visible, raising expectations for a performance turnaround. Additionally, as corporate IT investments gradually recover and deferred contracts are being signed again, profitability expansion factors are clear, making the future performance outlook positive.

In fact, Amaranth 10, which marked its second year since launch and aligns with the digital transformation (DX) needs spreading across all industries, continues to maintain a stable profit-generating trend. Market demand for the company’s core business areas such as ERP 10 and WEHAGO is also increasing, which is expected to positively impact Q4 performance.

In the mid to long term, sales contribution effects are expected from new business areas. The accounts receivable factoring business through a joint venture with Shinhan Bank is expected to be activated as a corporate finance specialized platform business linked with financial infrastructure. The precision medical big data platform and next-generation hospital information system, which are being promoted by expanding enterprise cloud services into the medical big data market, are also becoming more concrete.

A Duzon Bizon official stated, “We are striving to strengthen corporate competitiveness centered on core businesses with sufficient momentum for performance improvement, and are diversifying sustainable growth models.”

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