Polaris Office Reports H1 Revenue of 120.9 Billion KRW, Up 819% YoY... "Full-Scale Quantum Jump"

Polaris Office announced on the 16th that its consolidated sales and operating profit for the first half of the year reached 120.9 billion KRW and 6 billion KRW, respectively. This represents an increase of 819% and 455% compared to the same period last year. Net profit for the same period was recorded at 11.1 billion KRW.

As of the end of the half-year, total assets reached 538.7 billion KRW, a 70% increase compared to the end of last year. Total equity increased by 75% to 450.3 billion KRW.

For the second quarter of this year, consolidated sales and operating profit were 74.3 billion KRW and 4.2 billion KRW, respectively, marking increases of 1140% and 917% compared to the same period last year. Net profit was recorded at 6.3 billion KRW.

Strong performance was driven by the core office software (SW) business along with the effects of subsidiary consolidation. Based on user convenience and technological competitiveness, both B2C (business-to-consumer) and B2B (business-to-business) sales in the office solutions sector showed growth of over 10% compared to the same period last year.

Additionally, the inclusion of Polaris Sewon, consolidated since the third quarter of last year, and the acquisitions of Polaris AI and Polaris AI Pharma in February and March, respectively, contributed to external growth. The company explained that a full-scale quantum leap is expected this year, based on the stability of the core business and consolidated subsidiaries as well as AI growth potential.

A company representative stated, “We are pursuing various measures such as strengthening technological competitiveness and exploring new businesses to achieve mutual growth across the group centered on Polaris Office. Through the group’s AI Convergence Research Institute, we will expand synergy areas and continue growth in both scale and profitability through a virtuous cycle.”

They added, “Polaris AI has acquired the Naver Cloud Managed Service Provider (MSP) certification and is expanding its search-augmented generation (RAG)-based infrastructure business. Through its subsidiaries, it has also been selected as a member of NVIDIA’s Inception Program, strengthening AI synergy projects. We will strive to continue breaking records for the highest performance this year and beyond.”