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Com2uS
Com2uS 2023 4Q and Annual Financial Results
Key insights
6 takeaways- 01Consolidated 2023 revenue rose 7.7% YoY to 772.2 bn KRW, while full-year operating profit was a loss of 39.3 bn KRW.See it on page 3
- 024Q23 consolidated revenue fell to 164.5 bn KRW, down 19.5% YoY and 11.9% QoQ.See it on page 3
- 03Full-year 2023 game revenue grew 13.5% YoY to 562.0 bn KRW, while media, etc. revenue fell 5.3% to 210.1 bn KRW.See it on page 3
- 04Full-year 2023 operating costs rose 10.6% YoY to 811.5 bn KRW, with marketing up 37.2% YoY.See it on page 4
- 05Standalone parent revenue for 2023 increased 14.5% YoY to 547.8 bn KRW, with sports sales up 27.6% to 161.1 bn KRW.See it on page 5
- 06The company expects revenue growth in 2024 from existing games and new publishing titles, according to its guidance.See it on page 11
Summary
Com2uS reports consolidated results under K-IFRS for 4Q23 and full-year 2023, with figures provided before the external audit of Q4 2023 is complete and subject to change. Consolidated revenue for 4Q23 was 164.5 bn KRW, down 19.5% YoY and 11.9% QoQ, while 2023 revenue reached 772.2 bn KRW, up 7.7% YoY. Consolidated operating loss was 17.6 bn KRW in 4Q23 and 39.3 bn KRW for the full year, with the full-year net profit at 4.4 bn KRW, a turn to surplus. Game revenue for 2023 was 562.0 bn KRW, up 13.5% YoY, while media revenue was 210.1 bn KRW, down 5.3%. Operating costs rose 10.6% YoY to 811.5 bn KRW for 2023, while marketing costs increased YoY due to global expansion of Chronicles and release of MLB 9 Innings Rivals. Standalone parent revenue for 2023 was 547.8 bn KRW, up 14.5% YoY, with growth across RPG, sports and casual genres. The company also outlines 2024 game revenue guidance, expecting growth from existing games and new publishing titles.
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