NETMARBLE ISSUES SECOND QUARTER 2019 FINANCIAL RESULTS
SOUTH KOREA – AUG 20, 2019 – Netmarble Corp., a major mobile game company specializing in entertaining global audiences of all ages, issued their financial results for the second quarter of 2019. The company achieved sales of $459.2 million [₩526.2 billion], an operating profit of $29.0 million [₩33.2 billion], and a net profit of $33.2 million [₩38.0 billion] for its second quarter, which led to a combined total sales of $876.1 million [₩1,003.8 billion] and operating profit of $58.6 million ([₩67.1 billion) in Netmarble’s first half of 2019.
At Netmarble’s second quarter closing, company sales rose by 5.1% from its first quarter, with a 10.2% increase year-over-year. Operating profit saw a 2.1% decrease from the previous quarter with a 46.6% decrease from the same period of last year. Net profit also yielded a 42.7% decrease year-over-year, and a 10.2% decrease quarter-to-quarter.
“We have been focusing on enhancing our competitiveness by successfully launching new games of various genres in the global market,” said Young-sig Kwon, CEO of Netmarble. He added, “We expect a turnaround in Q3 as new successful titles launched in Q2 will be reflected in full Q3 sales. We also expect the proportion of sales outside of South Korea to continue to increase to 70% in the second half of the year with the launch of Blade & Soul Revolution in Japan, The King of Fighters Allstar in North America, and new games based on our popular franchise games.”
Top revenue generators in the second quarter include MARVEL Contest of Champions (15% of revenue generated), Lineage 2: Revolution (14% of revenue generated), Blade & Soul Revolution (10% of revenue generated), MARVEL Future Fight (8% of revenue generated), and Seven Deadly Sins: GRAND CROSS (8% of revenue generated) among the company library.
Sales outside of South Korea in the second quarter was $ 295.9 million [₩339.0 billion], which is 64% (a 4% increase from quarter-to-quarter) of the company’s total revenue, due to the successful launch of Seven Deadly Sins: GRAND CROSS in Japan. Revenues were diversified across Korea (36% of revenue generated), North America (31% of revenue generated), Japan (13% of revenue generated), Europe (8% of revenue generated), Southeast Asia (7% of revenue generated), and other territories (5% of revenue generated).
For the second half of 2019, Netmarble is working towards the release of major titles across multiple genres and territories, starting with the recent launch of YOKAI WATCH: Medal Wars in Japan and Koongya Catchmind in Korea. The company is also working towards the Japan launch of Blade & Soul Revolution and the North America launch of THE KING OF FIGHTERS ALLSTAR in their third quarter, along with the Korean launches of its proprietary franchise games, Seven Knights 2, and A3: STILL ALIVE, in Q4 of 2019.
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About Netmarble Corporation
Netmarble Corporation strives to entertain audiences of all ages around the world by providing great mobile gaming experiences. Established in Korea in 2000, Netmarble is one of the fastest-growing mobile game companies and consistently ranks as a top mobile developer and publisher worldwide. With more than 6,000 employees, Netmarble has been producing and servicing some of the most successful mobile games including Lineage 2: Revolution, Blade & Soul Revolution, MARVEL Future Fight, BTS WORLD, Everybody’s Marble, and Seven Knights. As a parent company to Kabam, a top mobile game developer in massively multiplayer free-to-play games, and the largest shareholder to Jam City, a leading casual social game developer, Netmarble has a strategic partnership with CJ ENM Corporation, Asia’s largest entertainment company, Tencent Holdings, Asia’s largest internet company, and NCsoft, a prominent MMORPG company. More information can be found at http://company.netmarble.com