[Click e-Stock] "Krafton Expected to Deliver Solid Results in Q4"

SK Securities has forecasted solid performance for Krafton. However, due to the delay in early access for new titles, the company's reliance on the PUBG intellectual property has increased.

SK Securities projects that Krafton will record sales of 854.1 billion won and operating profit of 376.6 billion won in the third quarter. These figures represent an increase of 18.4% and 16.1%, respectively, compared to the same period last year.

Specifically, PC sales are expected to reach 316.6 billion won, with continued growth despite a high base last year, thanks to collaborations with Aespa, Bugatti, and GD. Mobile sales are projected at 480.4 billion won, with overall solid performance from PUBG Mobile. In particular, the Chinese version of Battlegrounds, known as Peacekeeper Elite, maintained a top position in sales for an extended period, showing strong results due to collaborations with Porsche in July and Nezha in August.

Nam Hyoji, a researcher at SK Securities, anticipates that Krafton will continue to deliver solid results in the fourth quarter. She stated, "With the addition of PUBG IP resources, another premium vehicle collaboration is scheduled for the fourth quarter, so we expect the strong growth trend to continue. Although the number of content releases has increased this year, users still have a high demand for new content."

Researcher Nam also assessed that Krafton's reliance on the PUBG IP has grown further. She explained, "The early access for new titles originally planned for this year has been postponed to next year, which has increased the company's dependence on the PUBG IP. While premium content updates are scheduled for the fourth quarter, reducing concerns about performance, the market continues to expect greater growth and the success of new titles."

She added, "It will be necessary to confirm the synergies with the acquired companies before launching new titles next year. Currently, Krafton's stock price is at the lowest level among game companies, so whenever valuation pressure rises within the sector, Krafton will be a good alternative."

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