Neptune Reports Operating Profit of 700 Million KRW in Q1... Maintains Profit for Four Consecutive Quarters

Neptune announced on the 14th that its consolidated sales for the first quarter of this year reached 24.6 billion KRW, with an operating profit of 700 million KRW.

Neptune maintained a profit trend for four consecutive quarters, with sales increasing by 29% and operating profit rising by 149% compared to the same period last year.

In the first quarter, game business sales were around 20 billion KRW, up 27% year-on-year. Sales from the advertising platform business, including other revenues, exceeded 4.4 billion KRW, increasing by 40% compared to the same period last year. Advertising transaction volume in the first quarter surpassed 18.6 billion KRW, growing more than 16% year-on-year.

In the game business sector, major games such as "Muhaneui Gyedan" (Infinite Stairs), "Ureure Yongbyeongdan" (Ureure Mercenary Corps), and "Goyang-i Snack Bar" maintained their popularity. In particular, the subsidiary Trifla, which released the new game "Goyang-i Namukkun" (Cat Woodcutter) last March, saw its operating profit increase by 19% year-on-year and 52% quarter-on-quarter. From the second quarter, the performance of "Geonmulju Goyang-i Kiugi" (Building Owner Cat Raising), released in early May, will also be reflected.

In the advertising platform business sector, the growth of AdPie, an adtech (advertising technology applying IT techniques) service, was remarkable. AdPie grew approximately 28% year-on-year in terms of advertising transaction volume, and its sales increased by 43% compared to the same period last year. AdX also saw an increase of more than 13% year-on-year in advertising transaction volume.

Kang Yulbin, CEO of Neptune, said, "From the second quarter onward, we expect an increase in operating profit as we pass through the advertising off-season and release eight new games including Building Owner Cat Raising," adding, "We will steadily prepare for next year’s business by entering the mobile game publishing business and launching a new advertising platform within this year."