Q2 2024 Netmarble Corp Earnings Call Transcript
Key Points
- Q2 revenue was KRW782.1 billion, up 33.6% quarter over quarter and up 29.6% year over year.
- EBITDA was KRW151.1 billion, up 253.9% quarter over quarter and up 1,299.1% year over year.
- Net income significantly improved to KRW162.3 billion, driven by liquidation of holding assets.
- Three new game launches in Q2 contributed significantly to the quarterly revenue.
- Cost restructuring efforts have led to a reduction in royalty expenses and personnel costs.
- Operating expenses increased by 15.3% quarter over quarter and 4.7% year over year.
- Royalty costs remain a significant portion of operating expenses, despite reductions.
- Personnel expenses saw a slight increase quarter over quarter due to base salary increases.
- Marketing expenses increased due to new game launches in Q2.
- The company still faces high interest expenses despite selling HYBE shares.
(interpreted) Greetings. I'm Dong Hwan Kim, Head of Finance Planning at Netmarble. I thank investors and analysts for taking the time off of your busy schedule to attend Netmarble's 2024 second-quarter earnings conference call.
On the site with us are CEOs Young Sik Kwon and Byung Gyu Kim; and CFO, Gi Wook Do. We will address any questions that may arise during the call after the main presentation. Please note that the contents of the earnings reports have yet to undergo an independent auditor's review and could be subject to changes with the audit results.
And with this, CFO Gi Wook Do will present the Q2 earnings.
(interpreted) Good afternoon. My name is Gi Wook Do, and I will present overall 2024 second-quarter earnings. Please refer to page 2.
Q2 revenue was KRW782.1 billion, up 33.6% quarter over quarter and up 29.6% year over year. EBITDA was KRW151.1 billion, up 253.9% quarter over quarter and up 1,299.1% year
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