Cheil Worldwide Q3 Operating Profit at 95.9 Billion Won, Up 0.3% Year-on-Year

Gross Profit Reaches 457.4 Billion Won, Up 7%

Cheil Worldwide successfully defended its third-quarter performance this year through the acquisition of new advertisers and investments in overseas business.

Cheil Worldwide CI. Provided by Cheil Worldwide

On the 31st, Cheil Worldwide announced in a public disclosure that its consolidated operating profit for the third quarter of this year was tentatively tallied at 95.9 billion won, up 0.3% from the same period last year. Revenue reached 1.1889 trillion won, marking a 10.9% increase compared to the previous year. Gross profit, calculated by subtracting cost of sales from revenue, was 457.4 billion won, a 7% increase year-on-year. In the advertising industry, gross profit-excluding outsourcing costs paid to production and other partner companies-is considered an important performance indicator due to the significant proportion of such expenses.

The headquarters increased gross profit by 4% by developing new non-affiliated advertisers and defending performance centered on Samsung Electronics’ dotcom and retail businesses. For consolidated subsidiaries, gross profit rose by 7% from the same period last year, driven by growth in the North American and Latin American markets, as well as continued expansion in emerging markets such as the Middle East and Southeast Asia.

In the third quarter, Cheil Worldwide’s business composition by service was 54% digital, 31% below-the-line (BTL) advertising, and 15% above-the-line (ATL) advertising. The company explained, “Operating profit remained at last year’s level due to investments in talent, particularly in digital and overseas operations.”

Meanwhile, Cheil Worldwide’s workforce increased from 7,433 (6,166 overseas) at the end of last year to 8,058 (6,528 overseas) at the end of September this year.

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