Innocean Q2 Operating Profit 36.7 Billion KRW... 12.1% Decrease YoY

Domestic SG&A Increase Causes Slump
Improvement Through Overseas Campaign Expansion

Innocean, the advertising affiliate of Hyundai Motor Group, announced on the 6th that its consolidated operating profit for the second quarter was tentatively estimated at 36.7 billion KRW, a 12.1% decrease compared to the same period last year.

Sales increased by 5.1% compared to the same period last year, reaching 522.1 billion KRW.

Innocean explained that sales increased due to the expansion of electric vehicle-focused campaigns within the group and continued strong performance in overseas regions, but operating profit slightly decreased due to rising labor costs from increased personnel.

By region, in Korea, despite the impact of campaigns related to EV3, Casper EV, and the Busan Mobility Show, operating profit recorded 2.2 billion KRW, a 77% decrease compared to the same period last year due to increased selling and administrative expenses.

However, in North America and Europe, campaign volume increased steadily, and profit improvement effects from exchange rate benefits led to better performance compared to the same period last year.

Innocean plans to enhance corporate and shareholder value in the second half of the year by establishing full coverage of digital services and advancing the customer experience (CX) sector.