NETMARBLE CORP. REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS
SOUTH KOREA – NOV. 13, 2018 – Netmarble Corp. reported financial results for the third quarter of 2018. Net revenue for 2018 increased 5.0% to 526 billion South Korean won [$467 million] in the third quarter and decreased 9.6% year-over-year (YoY). In addition, thanks to the steady global market performance of Netmarble’s mobile games such as Lineage 2: Revolution, Marvel Future Fight, The King of Fighters All-Star’s Japanese launch and Netmarble’s subsidiary games such as Marvel Contest of Champions (Kabam), and Harry Potter: Hogwarts Mystery (Jam City), revenue outside of South Korea in the third quarter accounted for 382 billion won [$340 million] – 73% of all total revenue – which is the highest proportion of revenue achieved in the global market this quarter. Accumulated revenue recorded outside of Korea for the first three quarters in 2018 totaled 1.1 trillion won ($1.3 billion), which is a 19.9% increase YoY.
“We believe that recent changes in the labor related environment in Korea have had an impact on our operational performance in Q3. However, Netmarble have dedicated to readjust accordingly, and now the company is solidly equipped to cope with the new environment.” said Seungwon Lee, Chief Global Officer of Netmarble Corp.
Other third quarter 2018 financial results for Netmarble Corp. include:
- An operating profit of 67 billion won [$60 million], yielding a 39.8% decrease YoY and an 8.2% increase quarter-over-quarter (QoQ).
- A net profit of 55 billion won [$49 million], yielding a 34.6% decrease YoY and a 16.9% decrease QoQ.
- An EBITDA of 87 billion won [$77 million], yielding a 33.0% decrease YoY and a 6.4% increase QoQ.
To prepare for 2018’s fourth quarter and the 2019 fiscal year, Netmarble is set to launch the highly anticipated mobile MMORPG Blade & Soul Revolution in South Korea on December 6th, 2018. It will be showcased at G-Star 2018, a global game exhibition held at Busan, Korea from November 15-18th, along with other upcoming titles including Seven Knights 2, The King of Fighters All Star, and A3: Still Alive. Additional upcoming lineup for the global market include BTS World, Rich Wars, Yokai Watch: Medal Wars and unannounced projects code-named “Project M” and “Seven Deadly Sins RPG.”
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About Netmarble Corporation
Netmarble Corp. strives to entertain audiences of all ages around the world by providing great mobile gaming experiences. Established in Korea in 2000, Netmarble is the fastest-growing mobile game company and consistently ranks as the top mobile developer and publisher worldwide. With more than 5,000 employees, Netmarble has been producing and servicing some of the most successful mobile games including Lineage 2: Revolution, MARVEL Future Fight, 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.