Incross Reports Operating Profit of 6.1 Billion KRW in Q3... "Record Highest Quarterly Performance"

[Asia Economy Reporter Hyunseok Yoo] SK Group's digital advertising specialist company Incross announced its third-quarter earnings on the 10th.

Based on consolidated financial statements, this year's third-quarter sales amounted to 13.085 billion KRW, a 29.6% increase compared to the same period last year. Operating profit for the same period increased by 50.1% to 6.069 billion KRW, and net profit rose by 30.3% to 5.369 billion KRW, marking the highest third-quarter record ever. The cumulative operating profit and net profit for the third quarter reached 15.22 billion KRW and 12.858 billion KRW respectively, surpassing last year's total operating profit and net profit.

The media rep business division recorded a third-quarter handling volume of 106.299 billion KRW and sales of 9.772 billion KRW, up 34.0% and 21.6% respectively compared to the same period last year. Increased advertising expenditures in the gaming, transportation, public institutions, and financial sectors drove the media rep's performance. Meanwhile, ad network sales decreased by 5.7% year-on-year to 1.034 billion KRW.

The AI-based text commerce platform ‘T deal’ posted a third-quarter transaction amount of 23.782 billion KRW and a cumulative transaction amount of 60.8 billion KRW, continuing its growth trend. Third-quarter sales reached 1.435 billion KRW, an 857.3% increase compared to the previous year. The continuous increase in handled products and users, along with the addition of new features such as gifting and reviews, is interpreted as driving the transaction amount's upward trend.

Incross plans to diversify its product lineup and enhance the usability of the gifting feature through the launch and sale of T deal mobile vouchers within the year.

Jae-won Lee, CEO of Incross, stated, “Due to the recent boom in the digital advertising market and strengthened operational competitiveness of the company, the handling volume and profitability of the media rep are expanding, and the T deal business is also continuing its growth as SK Telecom’s AI-based targeting capabilities and user convenience features improve. Since the fourth quarter is the most active period in the advertising market, we will do our best to quickly respond to various marketing issues and maintain stable growth.”