MGAME Achieves Highest First-Half Sales in Company History

MGAME announced on August 14 that, on a consolidated basis, it recorded sales of 20 billion KRW, operating profit of 2.7 billion KRW, and net profit of 1.7 billion KRW in the second quarter of this year.

Compared to the same period last year, sales increased by 10.2%, setting a new record for the highest second-quarter sales in the company's history. Operating profit surged by 293.4% compared to the second quarter of last year, which had reflected one-off expenses (regular development costs). Net profit, however, decreased by 56.0% year-on-year, as last year's figure included compensation for damages received from a Chinese game company that illegally copied and serviced 'Yulhyulgangho Online.'

For the first half of this year, cumulative sales reached 47 billion KRW, operating profit was 9.2 billion KRW, and net profit was 7.3 billion KRW. Compared to the first half of last year, sales rose by 25.5% and operating profit by 95.7%, while net profit declined by 1.8%. Cumulative sales for the first half also achieved an all-time high.

The driving force behind this improved performance was the overseas success of the PC MMORPGs 'Yulhyulgangho Online' and 'Knight Online' in Greater China, North America, and Europe. The mobile MMORPG 'GwihoonM,' launched domestically in November last year, has also maintained steady popularity.

The mobile MMORPG 'Yulhyulgangho: Gwihwan,' co-published by MGAME and Pifun Games, has been performing well, ranking No. 1 in popularity on both the Apple App Store and Google Play just two days after its domestic launch on August 7.

In the second half of this year, the company plans to launch a new idle mobile game based on its popular IP 'Gwihoon,' leveraging its experience and know-how from developing and servicing the idle mobile game 'Queens Knights.'

A Chinese game company is also set to release a mobile game locally based on the long-running MMORPG 'Droiyan Online' IP. MGAME plans to target niche markets in Korea with mobile game publishing services.

Kwon Ihyung, CEO of MGAME, stated, "Despite the off-season for online games, we achieved record-high sales in the second quarter and on a cumulative basis, following the first quarter."

He added, "The second half is typically the peak season, and we have consistently outperformed the first half every year. By adding new game sales to our strong domestic and overseas online game revenues, we aim to continue breaking our record for highest performance, as we did last year."