KT sees operating profit jump to 12 year high in Q1

By Kim Hyun-bin

KT recorded its largest operating profit in 12 years thanks to strong performances across its media, mobile commerce and enterprise services, according to its regulatory filing Thursday.

The firm's operating profit climbed to 626.6 billion won for the January-March period, an increase of 41.4 percent from the same period a year earlier.

Net profit stood at 455.4 billion won ($353 million), up by 39.5 percent from 326.5 billion won last year. Sales rose 4.1 percent to 6.27 trillion won.

KT CEO Ku Hyeon-mo

The company attributed the year-on-year net profit growth to overall strong performances across its businesses, especially its IPTV and other media services, as well as mobile ID authentication and commerce products.

KT's enterprise internet services also rose 7.1 percent, and corporate telephone services increased 14.3 percent.

Its content business sales also soared 35.5 percent thanks to acquisitions of the e-book company Millie's Library and broadcasting program provider Media Genie.

"KT has achieved excellent results compared to the same period last year by leading the digital transformation (DX) of the domestic industry and strengthening its business portfolio through active partnerships and cooperation," KT's Chief Financial Officer (CFO) Kim Young-jin said.

Meanwhile, Krafton recorded a net income of 245.2 billion won ($190.2 million) in the first quarter, up 26.4 percent from a year earlier, according to the company's regulatory filings, Thursday.

Its operating profit for the January-March period rose 37.3 percent year-on-year to 311.9 billion won, while revenue increased 13.4 percent to 523 billion won.

PUBG IP showed balanced growth, with PC sales increasing by 61 percent year-on-year, and recorded 166.1 billion won, a slight decrease from the previous quarter.

The mobile sector was led by PUBG Mobile. Sales in the mobile game division recorded 395.9 billion won, up 5 percent from the cited period and 30 percent from the previous quarter. The company says that based on intellectual property collaboration and a solid live service structure, users' interest and loyalty continue to increase, resulting in rising sales. Sales in overseas markets accounted for 95 percent of total sales in the first quarter.

Pearl Abyss recorded sales of 91.4 billion won, an operating profit of 5.2 billion won and a net profit of 5.8 billion won in the first quarter. Sales and operating profit decreased year-on-year by 9.4 percent and 60.3 percent respectively.

Neowiz recorded consolidated sales of 76.6 billion won, an operating profit of 11.2 billion won and a net profit of 12.4 billion won in the cited period. Although sales increased 7.3 percent year-on-year, operating profit and net profit decreased by 16.6 percent and 40 percent, respectively.

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