Get the scoop on KRAFTON Inc.‘s impressive 2023 earnings announcement and exciting plans for 2024. From record-high sales to new game releases, CEO CH Kim shares insights into the company’s growth strategy.
KRAFTON achieves record-high sales of 1,910.6 billion KRW (£1,139M GBP) in 2023
KRAFTON Inc., the powerhouse behind PUBG: BATTLEGROUNDS, made headlines with its 2023 earnings announcement and strategic outlook for 2024. With CEO CH Kim at the helm, the company reported stellar financial performance, setting new records for sales and profits.
In 2023, KRAFTON achieved consolidated sales of 1,910.6 billion South Korean Won (£1,139M GBP), with an operating profit of 768 billion KRW (£458M GBP) and net profit of 594.1 billion KRW (£354M GBP). Notably, annual sales and operating profit saw a modest year-over-year increase of 3.1% and 2.2%, respectively, while net profit surged by an impressive 18.8%. The fourth quarter of 2023 witnessed a significant uptick in sales, climbing by 12.8% year-over-year to 534.6 billion KRW, with operating profit firming by 30.3% to 164.3 billion KRW.
The success story continued with PUBG: BATTLEGROUNDS, as sales from the game on PC and consoles saw a remarkable 37% year-over-year increase. December 2023 witnessed a 70% spike in Peak Concurrent Users (PCU), showcasing the enduring popularity of the title. Additionally, BATTLEGROUNDS MOBILE INDIA made a strong comeback, recording its highest monthly sales in December, underscoring KRAFTON’s growth potential in the Indian market.
During the earnings call, KRAFTON revealed its ambitious plans for 2024, highlighting a commitment to releasing new games annually as part of its ‘Scale-up the Creative’ strategy. Exciting new titles such as Dark and Darker Mobile, inZOI, Dinkum Mobile, Project Black Budget, and Subnautica 2 are in the pipeline. Moreover, the company announced investments in over ten projects as a second-party publisher.
Looking ahead, KRAFTON is franchising the PUBG: BATTLEGROUNDS IP, expanding independent publishing, and ramping up R&D investments in Artificial Intelligence, specifically Deep Learning. CEO Kim expressed confidence in the company’s trajectory, stating, “this year will mark the beginning of reaping the rewards from these efforts, reaching a pivotal milestone for KRAFTON’s step-by-step growth.”
As KRAFTON continues to dominate the gaming industry, gamers worldwide can anticipate an exciting lineup of new titles and innovative ventures in the coming years. Stay tuned for more updates from this gaming juggernaut!
