Metuzen, 112.9 Billion KRW Revenue and 47.4 Billion KRW Operating Profit Last Year... "Record Highest Revenue Achieved"

[Asia Economy Reporter Jang Hyowon] MyTogen recorded sales of 112.9 billion KRW last year, achieving the highest performance since its establishment.

MyTogen announced on the 10th through its preliminary consolidated financial results for last year that it recorded sales of 112.9 billion KRW and operating profit of 47.4 billion KRW. Compared to the same period last year, sales and operating profit increased by 16.5% and 9.2%, respectively, setting a new record for the highest performance. Net profit for the period was 38.7 billion KRW, growing 9.9% year-on-year.

MyTogen's 2020 performance showed balanced growth in both social casino and casual game businesses, with the flagship casual game ‘Solitaire Tripeaks Journey’ leading the way. It contributed to solid results by achieving over 95% sales growth compared to the previous year through new content and updates, recording high sales mainly in North America and Europe.

It continues to maintain steady popularity by ranking high in the card game category on the Google Play Store. Additionally, the social casino business has continuously increased compared to the previous year, serving as a cash cow.

This year, MyTogen plans to sequentially release new casual games and social casino titles. Following last year’s casual game ‘Word Taptap,’ it will launch various new titles across different genres, including a strategy simulation game, an upgraded version of the existing Tripeaks, and an evolved version of the social casino new release ‘Hoppin’ Cash Casino,’ aiming to sustain growth.

Seong Jongwon, CFO of MyTogen, explained, “Based on stable sales from social casinos and high growth in casual games, we recorded the highest sales and operating profit since our establishment. Despite a one-time listing cost of 1.5 billion KRW incurred from the KOSDAQ listing in August last year, we maintained a high operating profit margin of about 42%, delivering solid results.”

He added, “Starting this year, we will accelerate global market penetration focusing on MyTogen’s new social casino and casual game lineups and flagship games, and strengthen competitiveness through active M&A to continue sustainable growth.”