Yanolja Achieves Record 3Q Revenue of 192.2 Billion KRW, Up 112% YoY
[Asia Economy Reporter Donghyun Choi] Leisure platform company Yanolja announced on the 29th that its consolidated sales for the third quarter of this year recorded 192.2 billion KRW, a 112% increase compared to the same period last year.
This is Yanolja's highest sales based on third-quarter performance. Despite COVID-19 and unstable international conditions, it continued meaningful growth. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), excluding intangible asset amortization and stock option costs from mergers and acquisitions, recorded 10.6 billion KRW, maintaining profitability.
By segment, Yanolja Platform division sales grew 32% year-on-year to 93.1 billion KRW. Adjusted EBITDA was 21.9 billion KRW, continuing stable revenue growth. The adjusted EBITDA margin also recorded 24%, showing solid growth in both sales and profitability.
Yanolja Cloud division sales grew 253% year-on-year to 30.7 billion KRW. This is attributed to continued high performance in global cloud solutions and the IDS (Inventory Distribution System) segment. Adjusted EBITDA showed a loss of 9.3 billion KRW, improving from a loss of 12.1 billion KRW in the previous quarter.
Interpark division sales grew 40% quarter-on-quarter to 61.1 billion KRW. Especially after being acquired by Yanolja, it experienced high growth due to strong overseas airline and performance reservation businesses. Adjusted EBITDA recorded a loss of 4.2 billion KRW. This slight loss was due to increased R&D personnel reinforcement and marketing expenses in preparation for overseas travel demand following the COVID-19 endemic.
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A Yanolja representative stated, “Despite the ongoing COVID-19 situation and unstable international conditions such as interest rate hikes and sharp exchange rate fluctuations delaying the full recovery of domestic and international travel demand, all business divisions continue to secure high growth and profitability.” He added, “We expect faster growth once the situation stabilizes.”
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