Slide 1: 1H24 Earnings Release
1H24 Earnings Release Aug 7, 2024 WEBZEN Inc.
Slide 2: Disclaimer
Disclaimer Some contents may reflect forward-looking statements and have been prepared based on the expectations according to the data on which these statements were made. There can be no assurance that the forward-looking statements used by WEBZEN are correct as results can differ from expectations
Slide 3: Consolidated Corporations
Consolidated Corporations The followings are the subsidiaries of WEBZEN Inc. WEBZEN ONNET Co., Ltd ONNET Europe GmbH. WEBZEN Taiwan Inc. WEBZEN West, Inc. WEBZEN Dublin Ltd. WEBZEN Japan Inc. WEBZEN Red Star Inc. WEBZEN Mega Stone Inc. WEBZEN Redcore Inc. WEBZEN Inc. WEBZEN Cube Inc. WEBZEN Appletre
Slide 4: 1H24 Result Analysis
1H24 Result Analysis
Slide 5: Summary of Financial Results
Summary of Financial Results [Consolidated] (Unit : KRW million) IS 1H24 1H23 YoY G/R Revenue 109,517 85,284 24,233 28% Game Sales 109,290 85,233 24,057 28% Others 227 51 176 345% Operating Expenses 79,726 63,694 16,031 25% Operating Profit 29,791 21,590 8,201 38% Income before Tax 42,222 34,117 8,1
Slide 6: Result Analysis (Consolidated)
Result Analysis (Consolidated) Revenue 109.5b (YoY +28%) Operating Profit 29.8b (YoY +38%) Net Income 34.6b (YoY +34%) YoY Revenue Operatiing Profit Net Income 109,517 85,284 (Unit : KRW million) 1H24 1H23 G/R 34,567 Revenue 109,517 85,284 28% 29,791 25,859 21,590 Operating Profit 29,791 21,590 38%
Slide 7: Sales Breakdown (Consolidated)
Sales Breakdown (Consolidated) MU 75.9b (YoY +47%) R2 11.7b (YoY -39%) Metin2 12.4b (YoY +81%) Shot Online 2.8b (YoY -8%) breakdown MU R2 Metin2 Shot Online Others 6% (Unit : KRW million) 3% 11% 1H24 1H23 G/R 5% 11% 4% Total 109,290 85,233 28% 8% 23% MU(*) 75,873 51,576 47% R2(*) 11,678 19,181 -39%
Slide 8: Sales Breakdown (Consolidated)
Sales Breakdown (Consolidated) Domestic Sales 71.4b (YoY +59%) Overseas Sales 37.9b (YoY -6%) Portion of Domestic YoY +12%p breakdown Domestic Overseas 35% (Unit : KRW million) 47% 1H24 1H23 G/R Total 109,290 85,233 28% 65% 53% Domestic 71,366 44,840 59% Overseas 37,925 40,394 -6% 1H24 1H23 8
Slide 9: Expenses Breakdown (Consolidated)
Expenses Breakdown (Consolidated) Operating Expenses 79.7b (YoY +25%) - Fees 39.1b (YoY +70%) - Labor 32.8b (YoY -1%) - Marketing 1.3b (YoY +94%) breakdown Fees Labor Marketing D&A Network Taxes & Dues Others (Unit : KRW million) 1H24 1H23 G/R 1% Total 79,726 63,694 25% 3% 2% 1% Fees 39,087 23,010 7
Slide 10: 2Q24 Result Analysis
2Q24 Result Analysis
Slide 11: Summary of Financial Results
Summary of Financial Results [Consolidated] (Unit : KRW million) IS 2Q24 1Q24 QoQ 2Q23 YoY Revenue 48,047 61,470 -22% 42,497 13% Game Sales 47,933 61,357 -22% 42,471 13% Others 114 113 1% 26 340% Operating Expenses 36,244 43,481 -17% 30,651 18% Operating Profit 11,802 17,989 -34% 11,846 -0.4% Income
Slide 12: Result Analysis (Consolidated)
Result Analysis (Consolidated) Revenue 48.0b (QoQ -22%, YoY +13%) Operating Profit 11.8b (QoQ -34%, YoY -0.4%) Net Income 13.9b (QoQ -33%, YoY +6%) (Unit : KRW million) QoQ YoY Revenue Operating Profit Net Income Revenue Operating Profit Net Income 61,470 48,047 48,047 42,497 20,648 17,989 11,802 13
Slide 13: Sales Breakdown (Consolidated)
Sales Breakdown (Consolidated) MU 31.8b (QoQ -28%, YoY +27%) R2 5.6b (QoQ -9%, YoY -42%) Metin2 6.0b (QoQ -7%, YoY +61%) Shot Online 1.4b (QoQ -2%, YoY -6%) breakdown MU R2 Metin2 Shot Online Others (Unit : KRW million) 5% 2Q24 1Q24 2Q23 2% Total 47,933 61,357 42,471 7% 10% 10% 6% 3% MU(*) 31,804 44
Slide 14: Sales Breakdown (Consolidated)
Sales Breakdown (Consolidated) Domestic Sales 29.3b (QoQ -31%, YoY +31%) Overseas Sales 18.7b (QoQ -3%, YoY -8%) Portion of Domestic QoQ -8%p, YoY +9%p breakdown Domestic Overseas 31% (Unit : KRW million) 39% 2Q24 1Q24 2Q23 48% Total 47,933 61,357 42,471 69% 61% Domestic 29,262 42,104 22,273 52% Ove
Slide 15: Expenses Breakdown (Consolidated)
Expenses Breakdown (Consolidated) Operating Expenses 36.2b (QoQ -17%, YoY +18%) - Fees 16.2b (QoQ -29%, YoY +44%) - Labor 16.3b (QoQ -2%, YoY +5%) - Marketing 0.6b (QoQ -22%, YoY +129%) breakdown (Unit : KRW million) Fees Labor Marketing D&A Network Taxes & Dues Others 2Q24 1Q24 2Q23 Total 36,244 43
Slide 16: Summary of F/S (Consolidated)
Summary of F/S (Consolidated) (Unit : KRW million) B/S 2024.06.30 2023.12.31 Current Assets 449,699 382,363 Non-Current Assets 277,999 320,700 Total Assets 727,698 703,064 Current Liabilities 70,174 72,676 Non-Current Liabilities 7,114 6,489 Total Liabilities 77,289 79,165 Contributed Equity 17,655
Slide 17: Summary of F/S (Consolidated)
Summary of F/S (Consolidated) (Unit : KRW million) 2024 2023 I/S 2Q 1H 2Q 1H Revenue 48,047 109,517 42,497 85,284 Game Sales 47,933 109,290 42,471 85,233 Others 114 227 26 51 Operating Expenses 36,244 79,726 30,651 63,694 Operating Profit 11,802 29,791 11,846 21,590 Profit (loss) before tax 18,512 4
Slide 18: Thank you
| Thank you