New Delhi, 10th August 2023: KRAFTON, Inc. (CEO CH Kim) announced its 2Q23 and 1H preliminary earnings on August 9th.
KRAFTON recorded its 1H 2023 cumulative sales at KRW925.7B, OP at KRW414.5B, and NP at KRW395.7B in accordance with the Korean International Financial Reporting Standards (K-IFRS). KRAFTON has maintained an effort of reducing costs this year, but due to seasonal off-peak effects, the company recorded sales at KRW 387.1B, OP at KRW131.5B and NP at KRW128.5B for Q2.
During the first half of the year, PUBG: BATTLEGROUNDS PC/console lay the groundwork for a sustainable servicing of the game by driving a variety of updates, which include enhancements to Normal Match, an addition of a revive system, a clan system release, and Arcade overhaul. Even after the free-to-play transition, over 2 million users a month have consistently joined the game.
BATTLEGROUNDS MOBILE INDIA(BGMI) was relaunched in May and is regaining traffic in the India region. In 2H, content localized for India will be added to the game while more focus and effort will be put into the Indian market through large-scale esports events. Defense Derby, which was released to the global market at the beginning of August, is achieving initial success with positive reviews from users.
With its strategy “Scale-Up the Creative” KRAFTON is strengthening its game development and publishing capabilities. KRAFTON and its 11 independent studios are working on developing over 20 new games, consisting of “The Bird That Drinks Tears”, “Project Black Budget”, and “Project Gold Rush.” In an effort to expand its ecosystem, the company has also introduced a system for proposing new titles called “The Creative.” KRAFTON is also actively fostering future growth by investing in domestic and overseas studios in order to discover unique and original creatives. Aside from all this, KRAFTON is also implementing deep learning technology in its day-to-day operations with the goal of discovering new gameplay and enhancing production efficiency. Deep learning technology will also be applied to the open-world UGC platform Migaloo, which is set for a soft launch at the end of the year.
|Earnings (1H23)||Earnings (1H22)||% chg (YoY)|
KRAFTON’s 1H23 (preliminary) earnings on a consolidated basis (unit: KRW 100M)