KRAFTON, the Korean game developer, has reported impressive financial results for 1Q23 under the Korean International Financial Reporting Standards (K-IFRS). The company recorded consolidated sales of KRW538.7B, a 14% QoQ and 3% YoY growth, and an operating profit of KRW283B, with an operating profit margin (OPM) of 53%.
KRAFTON posts record-high quarterly sales of KRW538.7B in 1Q23
Excluding stock compensation costs, the operating profit was KRW293B, representing a 12% YoY increase. The net profit for the quarter was KRW267.2B, with a net profit margin (NPM) of 50%, bouncing back from the previous quarter.
The company’s popular game, PUBG: BATTLEGROUNDS, achieved an all-time high in-game sales, with PC sales contributing significantly to the growth of the company’s total sales. The company plans to enhance the gaming experience by introducing arcade updates, clan systems, and new maps.
KRAFTON also plans to expand its mobile business by launching progressive skins and collaborations with global brands. Under its strategic plan, “Scale-up the Creative,” the company will focus on self-developed games and minority stake investments, establishing a robust communication system with independent studios, and streamlining the production process.
The company will also focus on deep learning technologies to shorten game development time and implement various features within games. KRAFTON’s CEO, CH Kim, emphasized the company’s commitment to global publishing and new production management strategies to achieve growth in the future.
