Pearl Abyss Reports 16.6 Billion KRW Operating Profit in Previous Year, Down 60%

[Asia Economy Reporter Seungjin Lee] Pearl Abyss experienced a significant decline in performance last year due to the absence of new releases.

Pearl Abyss announced on the 14th that it recorded sales of 386 billion KRW, operating profit of 16.6 billion KRW, and a net loss of 41.1 billion KRW last year. Sales and operating profit decreased by 4.4% and 61.4% respectively compared to the previous year. In the fourth quarter, sales were 103.2 billion KRW and operating profit was 3.6 billion KRW.

Looking at annual sales by region, overseas sales accounted for 81% of the total annual sales. The PC and console platform accounted for 81% of total sales. Black Desert was named the most played game in the Middle East last year according to the '2022 Survey on Korean Game Users in Overseas Markets' published by the Korea Creative Content Agency. The net loss reflected quarterly exchange rate fluctuations and impairment losses on intangible assets.

Pearl Abyss plans to strengthen its competitiveness in the global market by continuing stable service of existing IPs this year while expanding the new IP of Red Desert. Discussions on joint marketing with global partners are currently underway, with development completion targeted for the second half of this year.

Jok Seok-woo, CFO of Pearl Abyss, said, "In 2023, we will focus on completing the development of Red Desert while maintaining steady performance of Black Desert and EVE," adding, "We are planning various preparations for the successful launch of the new IP."