Netmarble Q2 Operating Profit 111.2 Billion KRW... 'Earnings Surprise' (Update)

Netmarble Headquarters, Guro-gu, Seoul. Photo by Jinhyung Kang aymsdream@

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Netmarble recorded an 'earnings surprise' in the second quarter of this year, driven by the success of new releases such as 'Solo Leveling: Arise'.

On the 8th, Netmarble announced that its consolidated sales for the second quarter reached 782.1 billion KRW, with an operating profit of 111.2 billion KRW. Sales increased by 29.6% compared to the same period last year. This is the highest quarterly sales since the company's establishment. Operating profit turned positive.

For the first half of the year, cumulative sales amounted to 1.3675 trillion KRW, EBITDA was 193.8 billion KRW, operating profit was 114.9 billion KRW, and net profit was 152.4 billion KRW.

Overseas sales in the second quarter were 590.6 billion KRW, accounting for 76% of total sales. Although this was a 7.3 percentage point decrease from the previous quarter due to increased domestic sales, it was the highest quarterly performance on record. By region, the sales distribution continued to show a diversified portfolio with North America at 40%, Korea at 24%, Europe at 13%, Southeast Asia at 10%, and Japan at 6%.

Netmarble plans to sequentially release a total of four new titles in the second half of the year, starting with 'The Seven Deadly Sins: Grand Cross', followed by 'King Arthur: Legend Rise', 'RF Online Next', and 'Demis Reborn'.

Kwon Young-sik, CEO of Netmarble, said, "In the first half, we succeeded in a turnaround by achieving the highest quarterly sales through the success of new releases such as 'Solo Leveling: Arise' and 'Raven 2', along with continuous cost efficiency improvements. In the second half, we will do our best to upgrade our global gaming business competitiveness through the launch of highly anticipated new titles such as 'The Seven Deadly Sins: Grand Cross'."

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