Polaris Office Posts 13.4 Billion KRW Net Profit Turnaround Last Year... "Solid Growth Momentum"

[Asia Economy Reporter Jang Hyowon] Polaris Office announced on the 24th that it succeeded in turning a net profit last year, recording 13.4 billion KRW on a separate basis. The net profit increased significantly due to gains from the sale of affiliates.

Driven by the growth of the office business division centered on the global office software (SW) 'Polaris Office,' sales and operating profit on a separate basis during the same period increased by 27.81% and 26.75% year-on-year, respectively, reaching 23.2 billion KRW and 2.6 billion KRW.

On a consolidated basis, sales for the previous year were 24.2 billion KRW, up 5.23% year-on-year. Operating profit decreased by 29.64% to 1.7 billion KRW due to investment activities for new growth engines, while net profit turned positive to 13 billion KRW.

A Polaris Office official explained, "'Polaris Office' continues to grow steadily every year based on a global network of 120 million users," adding, "Starting with office SW, we provide various services including commerce and are currently advancing our technology as an artificial intelligence (AI) office platform."

He continued, "With the expansion of the related market, a good trend is expected this year as well," and said, "We are constantly seeking additional growth engines to expand synergy with group companies."

The Polaris Office Group has a stable governance structure consisting of Polaris Office, Polaris Sewon, and Polaris Uno. The group plans to strengthen responsible management centered on Polaris Office and expand synergy among group affiliates.

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