GalaxiaMoneyTree "H1 Operating Profit 6.6 Billion KRW... Strong Performance of MoneyTree Card"
Galaxia Moneytree maintained steady sales growth in the first half of the year, supported by strong performance of the rechargeable prepaid card "Moneytree Card" based on the Moneytree app.
On the 14th, Galaxia Moneytree announced that its consolidated sales for the first half of this year reached 66.9 billion KRW, with an operating profit of 6.6 billion KRW. These figures represent increases of 5.9% and 61.4%, respectively, compared to the same period last year. Net profit for the period turned positive at 2.4 billion KRW.
On a separate basis, sales amounted to 66.9 billion KRW and operating profit to 7.2 billion KRW, up 5.7% and 17.3%, respectively, from the same period last year. Net profit increased by 53.9% year-on-year to 3.5 billion KRW.
A company representative stated, "The Moneytree Card, a rechargeable prepaid card launched last year, had a positive impact on this performance improvement," adding, "Since surpassing 10 billion KRW in monthly recharge amounts in January this year, the prepaid recharge volume has rapidly increased, showing stable sales growth."
They continued, "In the second half of the year, the performance of the new Moneytree Card, which adds a simple payment function based on Paybook through a partnership with BC Card, will be fully reflected in sales," and said, "We will focus on acquiring new customers and merchants to enable broad usage both online and offline."
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Additionally, in June, Galaxia Moneytree signed a business agreement (MOU) with the delivery platform Vroong and Shinhan Card to enhance payment convenience for small restaurant business owners. Through this agreement, the newly launched delivery fee payment card allows Vroong to shorten settlement periods, and merchants to secure cash liquidity. The automatic deposit recharge service function alleviates the hassle of frequent payments, leading to a gradual increase in issuance applications.
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