[Click eStock] "NBT, Full Turnaround Expected in 2025"

DS Investment & Securities stated on the 11th that NBT is expected to see a structural expansion in the B2C sector, additional new advertising revenue in the B2B sector, and overseas sales growth, leading to a reduction in losses in the second half of this year and a full-scale earnings turnaround next year.

Jang Ji-hye, a researcher at DS Investment & Securities, said in a report on the same day, “The NBT B2C sector, represented by Cash Slide, saw a decline in sales last year due to minimizing personnel and resources to expand the B2B business, but recently, demand for app tech has increased amid the economic downturn. NBT is now driving growth again by updating platforms, investing resources, and launching high-profit advertising products to expand the B2C business.”

She added, “Monthly sales in the B2C sector are expected to grow from an annual sales figure of 10 billion KRW this year to 17 billion KRW next year. Since this sector has a high contribution margin, profitability improvement is also expected according to the sales proportion.”

Researcher Jang also forecast growth in the B2B sector. She anticipated that sales from the existing NBT Addison Offerwall platform and expansion of new partnership platforms, along with the official launch of the ‘Naver Pay Point Guarantee Program’ starting in the third quarter of this year, will add new revenue models.

Jang said, “Growth is also expected in NBT’s B2B business area due to Offerwall sales growth within Naver Webtoon’s global platforms in North America and Indonesia, as well as the launch of Offerwall within the metaverse platform Zepeto. Accordingly, earnings are projected to grow 24% year-on-year to 130.7 billion KRW next year, with operating profit turning positive to 2.6 billion KRW, and earnings leverage is expected to expand.”