Cheil Worldwide Reports Operating Profit of 311.4 Billion KRW Last Year... Dividend of 1,150 KRW per Share (Comprehensive)
Cheil Worldwide announced on the 31st through a disclosure that its consolidated operating profit last year was 311.4 billion KRW, a 25.48% increase compared to the previous year. During the same period, sales rose 27.89% to 4.2534 trillion KRW, and net profit increased by 16.85% to 195.8 billion KRW.
Operating profit for the fourth quarter was 71.8 billion KRW, up 10.51% from the same period last year. Fourth-quarter sales and net profit were 1.2043 trillion KRW and 24.7 billion KRW, respectively.
The digital business accounted for 53% of the annual revenue last year, up 3 percentage points from 50% the previous year. As a result of continuously expanding digital businesses such as dotcom and e-commerce and diversifying digital service areas, digital business performance increased by 27% compared to 2021. Meanwhile, the BTL (Below The Line, non-media advertising) business, including retail, accounted for 30%, and the ATL (Above The Line, media advertising) business accounted for 18%.
The performance of overseas consolidated subsidiaries (gross profit) increased by 25% compared to the previous year, raising the proportion of overseas business from 74% in 2021 to 77%.
Despite increasing external uncertainties this year, Cheil Worldwide aims to expand its annual gross profit by more than 5% compared to last year by strengthening digital-based performance marketing businesses such as DTC (Direct to Consumer). Additionally, it plans to continue investments such as mergers and acquisitions (M&A) and discover new businesses, while also enhancing social responsibility management through an active dividend policy and establishing an ESG (Environmental, Social, and Governance) management system.
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Meanwhile, on the same day, Cheil Worldwide announced the decision to pay a year-end cash dividend of 1,150 KRW per share for 2022. This amount is an increase of 160 KRW per share compared to the previous year (990 KRW per share), with a total dividend amount of approximately 116.5 billion KRW and a consolidated dividend payout ratio of about 60.1%. Cheil Worldwide plans to maintain an active dividend policy this year and next, deciding the dividend payout ratio within 60% based on consolidated net profit.
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