Performance of Diversified Business Portfolio
Connect Wave announced on the 14th that its consolidated operating profit last year was 32.4 billion KRW, an 86% increase compared to the previous year.
Revenue rose 33% year-on-year to 452.6 billion KRW. The total transaction volume (GMV) increased by 18% to 12.4 trillion KRW. The operating profit margin improved from 5.1% to 7.2%. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 71% year-on-year to 51.9 billion KRW.
Connect Wave explained that these achievements were made amid worsening domestic and international economic conditions by maintaining a diversified business portfolio encompassing three divisions: data commerce (Danawa, Enuri), e-commerce solutions (MakeShop, PlayAuto), and cross-border commerce (Malltail), covering business-to-consumer (B2C) and business-to-business (B2B) transactions, domestic and overseas markets, as well as services, solutions, and data.
Kim Gi-rok, CEO of Connect Wave, said, "Despite the expansion of the domestic and international e-commerce markets and intensified competition, we showed steady growth in 2022 thanks to solid preparation. Although this year’s business environment is expected to remain challenging, we will do our best to ensure that strategically prepared solutions, such as the popular price subscription service, deliver the best performance."
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