Alloice Sees 36% Surge in Operating Profit Last Year...Successfully Turns Net Profit Positive

Alloice, a company specializing in OTT set-top boxes and led by CEO Shin Jeonggwan, delivered a sharp improvement in earnings last year and turned to a net profit for the year.

On the 23rd, Alloice released its preliminary results for last year through a public filing. According to the disclosure, revenue came in at approximately 42.9 billion won, up 38.7% from 30.9 billion won a year earlier, while operating profit surged 36% from 2024 to 6.5 billion won, marking a remarkable performance.

What is particularly noteworthy is the dramatic rebound in profitability indicators. In 2024, profit from continuing operations before income tax expense and net profit for the year had both been in the red, with losses of 600 million won and 400 million won, respectively. Both, however, successfully swung to profit, demonstrating solid internal growth. Net profit for the year reached 4.4 billion won.

This strong performance is seen as the result of an aggressive business restructuring driven by the new management after the replacement of the CEO at last year’s regular general meeting of shareholders. In particular, the effect of consolidating Korea Pile, a company specializing in concrete piles (PHC piles), as a subsidiary played a major role. By converting Korea Pile from a joint venture into a subsidiary and successfully improving its fundamentals through full-scale investment and an aggressive sales strategy, the company is viewed as having achieved both overall top-line growth and enhanced profitability.

Shin Jeonggwan, who was appointed CEO of Alloice last year, stated, "The stable operation of our existing OTT set-top box business, together with portfolio diversification through new businesses, served as the driving force behind our earnings growth," adding, "Going forward, we will continue to strengthen the competitiveness of our core business and generate efficient management synergies with our subsidiaries, doing our utmost to enhance shareholder value."

Alloice stressed that, based on this record-high performance, it will begin reviewing active shareholder return policies. CEO Shin said, "We are actively reviewing various shareholder return measures to share the fruits of our turnaround and improved profitability with our shareholders," and added his commitment, saying, "By sharing the results of our growth, we will strengthen communication with the market and ensure that our corporate value is properly recognized."

Meanwhile, the disclosed figures are based on internal accounts prior to an external audit and may be partially revised during the upcoming audit process.