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NHN headquarters. (Photo = NHN) |
[Alpha Biz= Paul Lee] NHN, which had posted an operating profit of 50 billion KRW annually, turned into a deficit last year, recording an operating loss of around 30 billion KRW due to the occurrence of accounts receivable issues related to T-MEF (Tmon and Wemakeprice). However, excluding the one-time costs related to T-MEF, NHN reported a record operating profit of 108.1 billion KRW, marking a 94% increase compared to the previous year.
NHN announced on the 14th that the company achieved a record-high annual revenue of 2.4561 trillion KRW, a growth of 8.2% year-on-year, driven by solid performance across all business divisions. However, operating profit turned negative due to the bad debt write-off from the T-MEF issue in the third quarter, resulting in an operating loss of 32.6 billion KRW for the year.
In terms of Q4 performance, NHN achieved a record quarterly revenue of 643.9 billion KRW, which represents a 7.6% year-on-year increase and a 5.8% increase compared to the previous quarter. The operating profit for Q4 was 25 billion KRW, showing a turnaround from losses compared to both the previous quarter and the same period last year.
Breaking down by business division, the gaming sector, including the performance of key web-board games and Japanese mobile games, showed strong growth compared to the same period last year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
