FSN "Last Year's Sales Reach Record High of 265.6 Billion Won"

FSN announced on the 17th that it achieved a record high annual revenue of 265.6 billion KRW, a 51% increase compared to the previous year. Operating profit turned positive, recording 800 million KRW.

Last year, FSN restructured its business by selling major tech affiliate shares to Hyper Corporation and focusing on advertising marketing, brand, and platform win-win businesses. FSN plans to complete the separate operation of each business between FSN and Hyper Corporation within this year.

The business restructuring led to a rebound in FSN's performance. Despite challenging market conditions, FSN's core businesses under its umbrella recorded strong results, enabling FSN's business divisions to achieve both record-high sales and a turnaround to profitability. In particular, excluding Hyper Corporation and tech affiliates, FSN achieved sales of 211.7 billion KRW and operating profit of 10.9 billion KRW. FSN's business alone surpassed its previous best consolidated performance.

All of FSN's leading businesses, which FSN is spearheading, are showing remarkable results despite the highly uncertain economic environment. First, in the advertising and marketing business sector, steady growth was maintained despite difficult advertising market conditions, achieving transaction volume of 332.4 billion KRW, sales of 46.1 billion KRW, and operating profit of 2.9 billion KRW. This improvement in profitability and growth is attributed to proactive responses to the AI advertising sector, which has become the latest trend in the advertising industry, and the integrated operation of marketing subsidiaries engaged in similar businesses through management efficiency.

The brand win-win business sector through the subsidiary Boosters achieved an earnings surprise. Boosters recorded annual sales of 105.1 billion KRW and operating profit of 14.7 billion KRW last year, surpassing 100 billion KRW in sales and 10 billion KRW in operating profit for the first time in history.

The platform win-win business, which is expected to be FSN's new growth engine, is also gaining momentum. ‘Kauli,’ Korea’s first and largest mobile ad network, recorded sales of 30.6 billion KRW and operating profit of 1.5 billion KRW, establishing a stable core in the platform business. ‘Daedamo’ surpassed 6.24 million annual visitors, maintaining its position as Korea’s number one hair loss community for 10 consecutive years and continuously achieving favorable results.

This year, FSN announced a new corporate vision, ‘Shared Growth Company,’ meaning to grow together with advertisers, brands, and platforms based on advanced marketing and tech capabilities. They expect even greater growth than last year, which set a record high in sales.

FSN CEO Seo Jeonggyo said, “Tech-related businesses that require continuous investment have been transferred to Hyper Corporation, allowing FSN to focus on marketing, brand, and platform win-win businesses, thereby enhancing each entity’s expertise and competitiveness. Excluding the one-time costs of Hyper Corporation, the net loss confirms how soundly FSN’s business divisions are growing.”

He added, “We will improve the debt ratio through business restructuring this year and complete the establishment of separate operational systems for FSN and Hyper Corporation by business. Good results are already appearing, such as Boosters achieving the highest sales for the same period in the off-season early this year, and we expect the currently undervalued corporate value to receive appropriate recognition.”