Yanolja, 43.8% Increase in Sales... Operating Profit Turns Positive at 16.1 Billion Won

[Asia Economy Reporter Junhyung Lee] Accommodation platform Yanolja continued its growth momentum despite the impact of COVID-19.

According to Yanolja on the 19th, the company's sales last year reached 192 billion KRW (separate basis), a 43.8% increase compared to the previous year. During the same period, operating profit recorded 16.1 billion KRW, achieving a turnaround to profitability. Thanks to the expansion of the hotel solution business based on cloud technology, the performance appears to have entered a full-fledged growth trajectory.

The background of the performance is business diversification. When overseas travel became impossible due to COVID-19, Yanolja quickly advanced its digital transformation. Globally, it focused on expanding its cloud solution business. The company explains that as the domestic and international travel and leisure markets recover and transportation and restaurant reservation businesses become full-fledged, continuous performance improvement is expected.

Yanolja is also preparing for an initial public offering (IPO). The company is pushing forward with the IPO aiming for a listing in the second half of this year.

Yanolja CEO Sujin Lee said, "We achieved this growth through a strategy of proactively responding to market changes," adding, "We plan to continue expanding investments to strengthen our research and development (R&D) capabilities."