MGAME Achieves Record First-Quarter Sales of 27.1 Billion KRW and Operating Profit of 6.5 Billion KRW

MGAME announced on May 15 that, on a consolidated basis for the first quarter of this year, it recorded sales of 27.1 billion KRW, operating profit of 6.5 billion KRW, and net profit of 5.7 billion KRW.

Compared to the same period last year, sales, operating profit, and net profit increased by 39.8%, 61.8%, and 70.2%, respectively. Compared to the previous quarter, they grew by 3.0%, 67.3%, and 40.5%, respectively. The company also recorded its highest-ever first-quarter sales.

In the first quarter of this year, overseas sales of the company's PC-based MMORPGs, "Yulgang Online" and "Knight Online," drove improvements in performance. The addition of new sales from the mobile MMORPG "Ghost Online M," launched in November last year, also contributed to achieving the company's highest first-quarter results ever.

Sales of "Knight Online," which has been popular in North America and Europe since 2005, increased by 68.5% compared to the first quarter of last year. Continuous updates, events, and marketing efforts led to an increase in concurrent users, prompting the company to expand server channels for stability in October and November last year. Sales also rose due to special item discount events.

During the first half of this year, MGAME plans to launch "YulgangM: Prelude," a mobile MMORPG based on the graphics of "Yulgang Online," in Korea.

In the third quarter, the company will leverage its experience and know-how from developing and servicing the idle mobile game "Queens Knights" to introduce a new idle mobile game based on its popular IP, "Ghost Online."

In the second half of the year, a Chinese game company will launch a mobile game based on the IP of MGAME's long-running MMORPG "Droiyan Online" in the local market. MGAME is currently pursuing export contracts for new titles and plans to provide publishing services for at least one new mobile game.

MGAME CEO Kwon Lee said, "The first quarter's performance is the result of stable sales from our steady-selling online games 'Knight Online' and 'Yulgang Online,' combined with new mobile game sales." He added, "In the second half of the year, we will continue to grow through large-scale updates and new releases, such as the addition of a new world in 'Yulgang Online,' as well as targeting the global market."