Netmarble Reports 2.5 Trillion KRW Revenue and 69.6 Billion KRW Operating Loss in 2023... "Strengthening Game Business Competitiveness"

Netmarble announced on the 7th that its consolidated revenue for last year was 2.5014 trillion KRW, down 6.4% from the previous year. Operating loss was 69.6 billion KRW, and net loss was 313.3 billion KRW.

Revenue for the fourth quarter of last year decreased by 3.2% year-on-year to 664.9 billion KRW, while operating profit turned positive to 17.7 billion KRW. However, due to an increase in corporate tax from asset sales, a net loss of 195 billion KRW was recorded.

Overseas sales in the fourth quarter accounted for 80% of total revenue, amounting to 534 billion KRW. The cumulative overseas sales for last year reached 2.078 trillion KRW. By country in the fourth quarter, the sales distribution was North America 45%, Korea 20%, Europe 12%, Southeast Asia 9%, Japan 6%, and others 8%.

Netmarble aims to release a total of five games in the first half of this year, including four new titles: Arthdal Chronicles: The Three Powers, I Alone Level Up: Arise, Raven 2, and King Arthur: Legend Rise, as well as one title for the Chinese market.

Kwon Young-sik, CEO of Netmarble, stated, "The development schedules of games planned for release last year were delayed, resulting in seven consecutive quarters of operating losses and failing to meet market expectations. However, the turnaround in the fourth quarter laid the groundwork for a new leap forward. This year, with the release of anticipated titles such as Arthdal Chronicles and I Alone Level Up, we will focus on selection and concentration to strengthen the competitiveness of our game business."

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