Nexon Q4 2024 Investor Presentation

Key insights

7 takeaways

01
Nexon achieved record fiscal year 2024 revenue of ¥446.2 billion, a 5% year-over-year increase driven by the launches of Dungeon&Fighter Mobile and The First Descendant.See it on page 19
02
Operating income declined 8% in 2024 due to increased human resource costs and ongoing investments in talent and live game operations.See it on page 18
03
The company maintains a strong liquidity position with cash reserves exceeding ¥600 billion and has approved a ¥100 billion share buyback program to enhance shareholder value.See it on page 32
04
Q4 2024 revenue fell 6% year-over-year, primarily due to the underperformance of the FC franchise and The First Descendant.See it on page 10
05
Nexon’s core franchises, Dungeon&Fighter and MapleStory, have generated $27 billion in lifetime gross revenue over the past 20 years.See it on page 43
06
The company is prioritizing future growth through a pipeline of seven upcoming titles, including The First Berserker: Khazan, Mabinogi Mobile, and ARC Raiders.See it on page 8
07
Nexon currently employs over 9,300 staff and is executing a strategy to balance portfolio expansion across PC, console, and mobile platforms.See it on page 49

Summary

Nexon achieved record-breaking financial performance in fiscal year 2024, generating ¥446.2 billion in revenue, representing a 5% year-over-year increase. This growth was primarily fueled by the successful launch of Dungeon&Fighter Mobile in China and the global introduction of The First Descendant. Despite these annual gains, the company experienced an 8% decline in operating income, attributed to rising human resource costs and sustained investments in talent acquisition and live game operations. While fourth-quarter results saw a 6% revenue dip compared to the previous year due to the underperformance of the FC franchise and The First Descendant, the company maintains a strong financial foundation with cash reserves exceeding ¥600 billion.

The company’s long-term strategy centers on leveraging its established intellectual property, most notably the Dungeon&Fighter and MapleStory franchises, which have collectively generated $27 billion in lifetime gross revenue over the past two decades. Current efforts focus on extending these core assets through cross-platform development and global updates, while simultaneously diversifying the portfolio with new titles such as The First Berserker: Khazan, Mabinogi Mobile, and ARC Raiders. With a global workforce of over 9,300 employees, Nexon is prioritizing a balanced expansion across PC, console, and mobile segments to ensure future scalability.

Looking toward 2025, the company remains committed to enhancing shareholder value, evidenced by the approval of a ¥100 billion share buyback program. By combining a robust pipeline of seven upcoming titles with strategic co-development agreements and international partnerships for properties like THE FINALS, the organization aims to sustain its growth trajectory. The outlook for the first quarter of 2025 remains positive, with expectations that ongoing momentum from key mobile releases and new content will offset recent quarterly volatility and support continued market dominance.