Oasis Reports Operating Profit of 13.5 Billion KRW in First Half... 187% Increase YoY

Q2 Sales 131 Billion KRW, Operating Profit 7.3 Billion KRW
Quarterly Record Performance... Online Sales Up 22%

The early morning delivery specialized platform Oasis's operating profit for the first half of the year has surpassed last year's annual operating profit.

According to the Financial Supervisory Service's electronic disclosure system on the 13th, Oasis's sales for the first half of the year amounted to 259.9 billion KRW, a 13% increase compared to the first half of last year. Operating profit recorded 13.5 billion KRW, growing 187% compared to the same period last year. This figure exceeds last year's annual operating profit of 13.3 billion KRW. Based on the second quarter, sales and operating profit were 131 billion KRW and 7.3 billion KRW respectively, increasing 93% and 13% compared to the same period last year.

Sales in the online sector increased by 22% compared to the same period last year, driving overall sales growth. During the same period, the sales proportion of loyal customers who use Oasis Market more than six times a month grew by 85%, and the average spending per customer also rose by 8% compared to the first half of last year. As of the first half of the year, Oasis Market's membership count stands at 1.85 million.

Oasis has maintained a debt-free management policy and has sustained profitability for over 12 years since starting its business in 2011. The reason behind its long-term profitability can be attributed to the operational efficiency achieved through the Oasis Route logistics system. From the early days of its online business, Oasis directly employed logistics center field workers and trained them in the Oasis Route logistics system. As a result, the number of picking and packing tasks handled per person has improved by more than 70% compared to the early stages of the business in 2020.

Thanks to this, Oasis's financial structure is stable. The current ratio, an indicator symbolizing a sound company, is around 299%. The current ratio refers to a company's ability to pay its liabilities, with over 200% considered ideal. As of the end of June this year, cash and cash equivalents held exceeded 130 billion KRW. The amount payable to partner companies for goods is about 24.8 billion KRW. Operating cash flow, which confirms cash generation capability, also recorded 18.9 billion KRW, a 42% increase compared to the first half of the year.

Oasis emphasized, "Although the e-commerce environment is becoming increasingly competitive, we plan to focus on providing greater benefits to existing customers by faithfully adhering to the basics of distribution, while also concentrating on expanding new memberships."