Com2uS Breaks Through Chinese Approval, Also Shows Solid Performance (Comprehensive)

[Asia Economy Reporter Buaeri] Com2uS's sales have surpassed 500 billion KRW, driven by strong overseas sales.

Com2uS announced on the 9th that it recorded sales of 508.9 billion KRW and an operating profit of 112.9 billion KRW last year. Sales increased by 8.4% compared to the previous year. However, operating profit decreased by 10.4% year-on-year due to increased expenses for strengthening development personnel.

Sales in the fourth quarter of last year were 134.8 billion KRW, up 11.2% year-on-year. Operating profit was 24.8 billion KRW, down 22.8% year-on-year.

Com2uS's performance was driven by global results. Overseas sales accounted for about 80% of the total, reaching 404.5 billion KRW. Com2uS explained, "We achieved more than half of our total sales in Western markets such as North America and Europe, recording solid results worldwide."

Com2uS plans to accelerate its global market expansion this year with new releases across various genres, including major titles and its flagship intellectual properties (IP) such as ‘Summoners War’, ‘Major League Baseball (MLB)’, and the Korea Baseball Organization (KBO) professional baseball series. Last year, it received a game license (permission to service games in China) for the first time in four years with ‘Summoners War: Sky Arena’, raising expectations for success in the Chinese market. Regarding this, Kim Dong-su, Director of IR at Com2uS, stated during a conference call, "We are conducting various negotiations in the Chinese market."

First, Com2uS will release ‘Summoners War: Chronicle of the Century’ on April 29. The pre-registration, which recently began, attracted over 2 million applicants within ten days, signaling a positive outlook. The golf game ‘Birdie Crush’, released on the 4th, also ranked first in popularity in the Korean and Thai markets. Additionally, Com2uS is preparing more than ten new titles, including the MMORPG ‘Summoners War: Chronicle’ and games based on the ‘Walking Dead’ IP, aggressively expanding its market presence.

Com2uS aims to continue sustainable growth through strategic investments and mergers and acquisitions (M&A) of game developers. Following last year's acquisition of the German baseball game developer ‘OOTP’, Com2uS recently acquired the domestic PC game developer ‘Allm’. A Com2uS official said, "We will continue active investments and M&A activities in promising domestic and overseas companies this year to enhance our corporate brand value."

Meanwhile, Com2uS's holding company Gamevil announced that it recorded sales of 132.8 billion KRW and an operating profit of 22.6 billion KRW last year. Sales grew 10.8% year-on-year, and operating profit turned positive. Gamevil's strong performance was driven by increased sales of its flagship baseball games such as ‘Gamevil Pro Baseball 2020 Superstars’ and ‘MLB Perfect Inning 2020’.