Duzon Bizon "Q4 Operating Profit 26.7 Billion KRW Last Year... Record High Quarterly and Annual Performance"

[Asia Economy Reporter Hyunseok Yoo] Douzone Bizon announced on the 26th through its earnings disclosure that it achieved consolidated sales of 89.1 billion KRW and operating profit of 26.7 billion KRW in the fourth quarter of last year. This is the highest quarterly performance ever, with sales up 15% and operating profit up 10% compared to the same period last year.

Thanks to the strong performance in the fourth quarter, the full-year 2020 results also met market consensus with consolidated sales of 306.5 billion KRW and operating profit of 76.7 billion KRW, setting a new annual record. Compared to last year, sales increased by 17% and operating profit by 15%. Accordingly, Douzone Bizon has demonstrated high stability and growth by continuing the trend of increasing sales and operating profit year-on-year for 25 consecutive quarters. This was due to the strong performance of new businesses centered around the business platform WEHAGO.

The outlook for future performance is even brighter. Douzone Bizon was selected as a supplier company in the telecommuting sector for the government’s non-face-to-face service voucher support project last year. According to the company, the WEHAGO-based ‘Home Office All-in-One Pack’ launched in line with this is expected to benefit again in the second phase of the project scheduled for this year.

A Douzone Bizon official said, “Thanks to the synergy between new and existing business areas, all business sectors grew evenly, enabling us to achieve the largest-ever performance with the first 300 billion KRW sales breakthrough by a software-based company.” He added, “With the diversification of the product portfolio, including the upcoming launch of a new product combining groupware and ERP, the core solution line necessary for growth is complete, so we expect to continue stable sales and profit generation this year as well.”