Mgame Reports 20.2% Increase in Sales and 69.3% Rise in Operating Profit Year-on-Year

[Asia Economy Reporter Hyungsoo Park] Mgame announced on the 16th that it achieved consolidated sales of 15.2 billion KRW, operating profit of 5.3 billion KRW, and net profit of 4.4 billion KRW in the first quarter of this year. Compared to the same period last year, sales and operating profit increased by 20.2% and 69.3%, respectively. This marked the 13th consecutive quarter of year-over-year operating profit growth. Net profit decreased by 10.1% due to a one-time gain in the first quarter of last year.

In the first quarter of this year, local sales of the company’s PC MMORPG ‘Yeolhyeol Gangho Online,’ which has entered its second heyday in China, led the growth.

China’s ‘Yeolhyeol Gangho Online’ saw a 65% increase in concurrent users compared to 2019 and has been continuously rising without decline. Although sales fluctuate quarterly due to the nature of online games, they have been steadily increasing year-over-year.

Mgame plans to officially release its self-developed mech third-person shooter game ‘Battlesteed: Gunma,’ currently in early access on Steam, as a partially paid game during the first half of the year.

The idle strategy P2E (Play To Earn) game ‘Soul Saver: Idle Savers,’ developed using the Gwihon IP (intellectual property), will open pre-registrations in May through RetroFuture.

In the second half of the year, the company will launch its popular MMORPG ‘Hero Online,’ for which it has completed a WEMIX onboarding contract, as a blockchain game.

The mobile game ‘Jicheom Yeongju,’ which combines the globally popular genres of strategy simulation and puzzles, is also scheduled for domestic release in the second half of the year. ‘Jicheom Yeongju’ has been validated for its gameplay to the extent that Tencent handles its publishing services in China, raising high expectations for its domestic service.

Mgame CEO Lee Hyung-kwon stated, “We achieved results surpassing the first quarter of last year, driven by the strong performance of China’s Yeolhyeol Gangho Online, which was the driving force behind the company’s highest profit since its founding last year,” adding, “From the second quarter, a new lineup of titles across various platforms and genres including PC games, mobile games, and blockchain games is prepared, so we expect results exceeding those of last year.”