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Smilegate’s 2015 Report Shows 530.6 million dollar in Sales & 292 million dollar in Operating Profit

Posted On
2016.03.02

 

Smilegate had its most lucrative year yet in 2015 and has proven its vast potential for growth.

 

The company’s consolidated financial statement for 2015 showed sales of $ 530.6 million, a 12.9% increase from previous year. Operating profit and net profit for the year were $ 292 million and $ 208.7 million, a 7.5% and 7.9% increase compared to the previous year, respectively.

 

Smilegate achieved these remarkable results through the success of CROSSFIRE, which recently announced diversification of its IP business. The game continues to grow in markets comprising China, Vietnam, the Philippines, and Brazil. This strengthened CROSSFIRE IP has heavily contributed to Smilegate’s success last year. CROSSFIRE 2, the sequel to the highly popular original, is set to be released in China by Oriental Shiny Star, a joint-stock company between Qihoo 360 and The Nine, through an exclusive licensing deal worth $ 512.8 million. In case of CROSSFIRE’s mobile version, it will be introduced to the public by Tencent and LONGTUgames, who are both major game distributors in China. Smilegate has also made a deal with Original Film, a major film production company in Hollywood, to produce a movie based on the CROSSFIRE IP, making it the first game developed in Korea internationally adapted to a commercial film.

 

In both 2014 and 2015, Smilegate became recognized as one of the five highest-grossing game companies in Korea. Its operating profit was the second highest after Nexon. Smilegate’s operating profit rate for 2015 was 55%. For 7 consecutive years since 2009, the company achieved an operating profit rate of 50% or higher.

 

Smilegate expects CROSSFIRE to continuously thrive in China, Vietnam and the Philippines (Asia) as well as Brazil (Latin America). Smilegate Megaport, the entity responsible for new platform business and game publishing, will officially launch a new platform in the effort to expand its online and mobile game lineup. Smilegate Megalab’s investment capabilities will also be fortified to gain new growth momentum for both the Korean and international markets.

 

Smilegate’s CEO, Hyuk-bin Kwon, believes that the success of CROSSFIRE last year has served as a starting point for an array of businesses that utilize the CROSSFIRE IP. Kwon revealed that a wider range of strategies will be employed to expand the CROSSFIRE IP in 2016, and that the first CBT of the company’s new growth engine “Lost Ark” and the launch of a new platform will further strengthen global competitiveness of Smilegate. Kwon also mentioned that he plans to focus the company’s competence in investment and business incubations, areas that showed remarkable growth potential last year.

 

[Unit: $ million] 

Classification

Annual performance

2013

2014

2015

Y/Y

Sales

332.3

470.1

530.6

12.9%

Operating profit

225.4

271.5

292.0

7.5%

Net profit

159.1

193.3

208.7

7.9%