Duzon Bizon Reports Q1 Revenue of 80.9 Billion KRW, Up 6.9% YoY

Duzon Bizon (CEO Kim Yong-woo) announced on the 4th through its Q1 earnings disclosure that it achieved consolidated sales of 80.9 billion KRW and operating profit of 14.1 billion KRW. Compared to the same period last year, sales increased by 6.9%, but operating profit decreased by 1.4%.

The company explained, "This Q1 performance is positive in that it laid the foundation for earnings recovery by exceeding market consensus results, thanks to steady order achievements based on solid sales capabilities."

Despite limited sales growth due to economic slowdown leading to reduced IT investment and delays in implementation caused by manpower shortages in the IT industry, the recovery trend in earnings proved the business stability and growth potential remain valid. Although increased labor costs in new businesses, fixed costs such as commission fees, and one-time expenses impacted operating profit, continuous cost reduction efforts have raised expectations for improved performance in the second half of the year.

First, Amaranth 10 is expected to lead performance improvement as it begins to expand its market, driven by increased demand for cloud-based digital transformation (DX) across all industries. Now in its third year since launch, it has succeeded in establishing itself in the market through enhanced functionalities and various external service partnerships, with more companies paying attention to the scalability and productivity improvements offered by cloud environments.

WEHAGO is also notable as the cloud transition of existing package customers accelerates. With the full-scale customer transition planned for the second half of this year using the next-generation Smart A 10 based on WEHAGO, WEHAGO T, an ERP dedicated to tax accounting offices, and the personal app NAHAGO are also recognized for their potential as platform services coexisting with the tax industry.

The expandable ERP business division is expected to realize profitability improvement through orders focused on high value-added projects. The strategy is to focus on profitability-oriented projects by reducing outsourcing and efficiently allocating personnel instead of aggressively expanding orders.

A Duzon Bizon official said, "Through the synergy of the SaaS Integration Platform born from the integration and expansion of various business solutions, we will strengthen core businesses and visualize new businesses, making full-scale performance improvement possible from the second half of the year."