Mona Yongpyong Announces Strong Q1 Results: "Operating Profit Up 33.5% Year-on-Year to KRW 13.32 Billion"

Mona Yongpyong (CEO Lim Hakwoon) continued its solid growth trend in the first quarter of this year.

On May 15, Mona Yongpyong announced that its consolidated sales for the first quarter reached KRW 70.662 billion, up 26.3% compared to the same period last year. Operating profit during the same period was KRW 13.32 billion, an increase of 33.5%, while net profit for the period rose 35.9% to KRW 7.877 billion. Notably, the operating margin stood at 18.9%, marking the highest quarterly figure in the past four years.

A company representative stated, "Stable growth in the resort operations segment and smooth progress in the construction of condos in the real estate sales segment led to overall strong performance in the first quarter." The representative added, "We expect these key drivers to remain effective through the second half of the year, and we are forecasting strong annual results for this year."

Sales in the resort operations segment reached KRW 48.481 billion, up 3.5% year-on-year. The company explained that the increase in visitor demand led to a simultaneous rise in average spending per customer, resulting in quantitative growth. Specifically, the average spending per customer at Mona Yongpyong increased 7.7%, from KRW 120,900 in the first quarter of last year to KRW 130,200 in the first quarter of this year, positively impacting profitability.

In the real estate sales segment, strong performance was driven by the smooth construction of the premium condo "Lusongchae." First-quarter sales in this segment totaled KRW 22.181 billion, a 143.4% increase compared to the previous year. The progress in construction of Lusongchae, which is scheduled for completion this year, is being recognized as revenue and is positively affecting the company's profitability. Going forward, the company plans to accelerate growth through phased condo sales within Mona Yongpyong Village, based on demand analysis for premium condos and utilizing available land in the area.

Meanwhile, Mona Yongpyong aims to drive mid- to long-term growth by expanding nationwide coverage and strengthening brand competitiveness through large-scale resort projects in locations such as Gangneung and Gochang in North Jeolla Province. In addition, following the designation of the "Yongpyong Tourism Complex" as an eligible area for the "Tourism and Recreation Facility Investment Immigration Program" by the Ministry of Justice on April 1, the company plans to actively pursue its expansion as a global resort complex by attracting foreign investment.