NHN announced its management performance for the 4th quarter and the year 2024 on the 14th.
NHN's consolidated revenue for the 4th quarter of 2024 was 643.9 billion won, representing a 7.6% increase compared to the same period last year and a 5.8% increase from the previous quarter, marking a record high for any quarter. Operating profit turned into a surplus of 25 billion won compared to both the same period last year and the previous quarter.
On an annual basis, all institutional sectors grew evenly, with revenue reaching 2.45 trillion won, an 8.2% increase from the previous year, achieving the highest annual total. However, due to the inclusion of uncollectible receivables and related expenses arising from the 3rd quarter's Timap incident, operating profit recorded a loss of 32.6 billion won. Excluding the one-time expenses related to Timap, annual operating profit showed a 94% increase from last year, reaching 108.1 billion won, which is the highest figure ever recorded.
Looking at the 4th quarter results by institutional sector: ▲ The gaming sector saw an increase of 6.5% year-on-year, recording 119 billion won, driven by the success of major web board games and mobile games in Japan. ▲ The payment and advertising sector increased by 4.8% to 307 billion won, thanks to the growth of NHN Payco's B2B business and an increase in international merchant transactions at NHN KCP. ▲ The technology sector achieved an increase of 50.2%, reaching 118.5 billion won, with the expansion of public cloud services centered around NHN Cloud.
NHN plans to focus on improving profitability through structural efficiency across the organization while achieving significant results in its gaming business this year. Upcoming new games include "Darkest Days," "Abyss Dia," and "Project STAR." NHN Cloud, which recorded impressive results in the public sector last year, will also expand its "GPU as a Service (GPUaaS)" business this year, targeting the artificial intelligence (AI) market.
Jung Woo-jin, NHN representative, noted, "Although last year's Timap incident acted as a key variable in the management environment, excluding this impact showed that our efforts to improve profitability resulted in the highest annual operating profit recorded," adding, "This year, we will lay the foundation for continued growth by exceeding expectations in our gaming business and expanding our cloud services."