Innocean Q3 Operating Profit 36.3 Billion KRW... 8.9% Decrease YoY (Comprehensive)

[Asia Economy Reporter Jeon Jinyoung] Innocean announced on the 4th that its consolidated operating profit for the third quarter was 36.314 billion KRW, a decrease of 8.9% compared to the previous year.

During the same period, sales increased by 20.5% to 466.955 billion KRW.

Net profit for the period was preliminarily estimated at 33.844 billion KRW, an increase of 12.3%.

Regarding the sales increase, Innocean explained, "In Korea, the volume of non-media advertising (BTL) agency services such as new car campaigns for affiliated advertisers and the Busan Motor Show increased," and "Overseas, the volume of agency services for affiliated advertisers grew, and the exchange rate effect was reflected."

However, the increase in selling and administrative expenses, including labor costs, appears to have affected operating profit. Accumulated selling and administrative expenses for the third quarter this year were 447.3 billion KRW, up 19.4% compared to the same period last year. Labor costs incurred due to the recruitment of new personnel domestically and abroad led to the increase in selling and administrative expenses.

The proportion of overseas business in the third quarter this year was 78%, up 1% from the previous year. The contribution to gross profit by region was 53% from the Americas, 22% from Korea, 12% from Europe, 11% from emerging markets, and 2% from China, in that order.

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