Monayongpyeong, H1 Cumulative Operating Profit 10.4 Billion KRW... 193% Increase YoY

Mona Yongpyeong announced on the 14th that its cumulative sales for the first half of this year, based on consolidated financial statements, reached 117.2 billion KRW, a 48.3% increase compared to the same period last year. Operating profit for the same period rose 193.4% to 10.4 billion KRW, and net profit also turned positive at 3.2 billion KRW.

Sales in the second quarter of this year increased by 85.9% year-on-year to 61.2 billion KRW, driven by strong performance in the resort operations business segment. The company explained that the room occupancy rate increased by 3.1% compared to the same period last year, reducing seasonal sales fluctuations and showing a clear effect of profit improvement. Operating profit in the second quarter was 400 million KRW, as strong performance continued with 6.9 billion KRW operating profit from the sales business segment, but was limited due to the one-time recognition of costs following the confirmation of property tax in the resort business segment.

A company representative stated, “Although there was some disappointment in the resort business segment’s operating profit in the second quarter, this was a temporary cost rather than a recurring expense,” adding, “Sales in the resort business are steadily increasing, so profitability is expected to visibly recover from the second half of the year.”

Mona Yongpyeong is confident in stable sales growth reflected according to progress in the second half of the year, as construction of the sales business segment’s condo ‘Rusongchae’ is proceeding smoothly. Additionally, Daegwallyeong, where the average temperature is lower than in Seoul, is recognized as a popular summer travel destination, invigorating the company’s resort business segment. The effect of the ‘Mona Yongpyeong’ brand strategy, which allows enjoyment of various leisure activities and culture regardless of season, is expected to be fully reflected in the third quarter.

Mona Yongpyeong plans to accelerate its F&B business in the second half of the year and completed the registration of a new corporation, ‘Yongpyeong Valley Co., Ltd.,’ on the 26th of last month. ‘Yongpyeong Valley Co., Ltd.’ was launched to expand the healthy and eco-friendly food business using natural ingredients, attracting attention with famous actress Lee Young-ae participating as an investor. The company plans to develop new products targeting the global wellness market and provide a platform through its own food research institute where customers can directly experience and communicate about eco-friendly and healthy foods.