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Com2uS
Com2uS 2024 1Q Financial Results
Key insights
6 takeaways- 01Consolidated 1Q24 sales were 157.8 bn KRW, down 13.7% year on year, while consolidated operating profit turned to 1.2 bn KRW from a loss.See it on page 3
- 02Parent company sales were 126.7 bn KRW in 1Q24, up 3.6% quarter on quarter but down 2.7% year on year.See it on page 4
- 03Sports sales rose 45.2% year on year to 42.5 bn KRW, which the company attributes to MLB licensed games and Com2uS Professional Baseball V24.See it on page 6
- 04Overseas sales were 92.3 bn KRW in 1Q24, representing 68.9% of game business sales, up 0.4 percentage points quarter on quarter.See it on page 7
- 05Parent marketing costs fell 50.3% year on year to 14.7 bn KRW in 1Q24, while marketing rose 12.5% quarter on quarter.See it on page 5
- 06The company plans to release a Japanese NPB licensed baseball game in 2025.See it on page 10
Summary
Com2uS published preliminary consolidated results for 1Q 2024 under K-IFRS, noting the figures remain subject to external review. Consolidated sales were 157.8 bn KRW, down 13.7% year on year and 1.6% quarter on quarter, with operating profit of 1.2 bn KRW and net profit of 4.0 bn KRW. Parent (Com2uS standalone) sales were 126.7 bn KRW, down 2.7% year on year but up 3.6% quarter on quarter, and parent operating profit reached 6.2 bn KRW. Subsidiary sales fell 40.9% year on year to 31.1 bn KRW.
By genre, parent RPG sales were 81.7 bn KRW, up 11.1% quarter on quarter but down 15.7% year on year, while sports sales rose 45.2% year on year to 42.5 bn KRW. Overseas sales were 92.3 bn KRW, accounting for 68.9% of game business sales, with North America at 29.3% and Asia at 22.3%.
The company plans to release a Japanese NPB licensed baseball game in 2025. The document also details a 2024 content lineup for its video media and K-pop subsidiaries.
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