NEXON Co., Ltd., 50% Increase in Undisclosed Net Income for The Current Fiscal Year

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Tue Nov 12, 2024 3:30 pm JST Earnings

3659 NEXON Co., Ltd. 【IFRS】

Earnings Report

NEXON Co., Ltd. <3659> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 12th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 8.6% from the same period last year to 102 billion yen.

However, the full-year forecast, which was not disclosed, indicated that consolidated net income surge by 50.3% to 106 billion yen.

Based on the third-quarter cumulative performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income/loss for the October to December period (4Q) is expected to turn into a profit of 3.3 billion yen (compared to a loss of 41.8 billion yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated net income decreased to 27 billion yen, a 23.2% decrease compared to the same period last year. The operating profit margin decreased from 38.5% in the same period last year to 38.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	272,619	92,728	156,524	107,930	123.0	111.4	Nov 9, 2022	IFRS
Jan - Sep, 2023	338,779	130,199	167,589	112,496	131.8	133.1	Nov 9, 2023	IFRS
Jan - Sep, 2024	366,485	125,905	154,580	102,819	123.1	95.7	Nov 12, 2024	IFRS
YoY	+8.2%	-3.3%	-7.8%	-8.6%	-6.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	ー	ー	ー	ー	－	15	Sep 3, 2024	IFRS
Jul - Dec, 2024 New	224,858	54,447	45,834	30,330	36.7	15	Nov 12, 2024	IFRS
Revision Rate	－	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	ー	ー	ー	ー	－	22.50	Sep 3, 2024	IFRS
Dec, 2024 New	455,750	128,817	161,507	106,126	128.3	22.50	Nov 12, 2024	IFRS
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	204,833	50,856	11,199	-6,720	-7.9	5	Feb 8, 2024	IFRS
Jul - Dec, 2024 Guidance	224,858	54,447	45,834	30,330	36.7	15	Nov 12, 2024	IFRS
YoY	+9.8%	+7.1%	+309.3%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	353,714	103,696	140,525	100,339	114.7	10	Feb 9, 2023	IFRS
Dec, 2023	423,356	134,745	125,929	70,609	82.9	10	Feb 8, 2024	IFRS
Dec, 2024 Guidance	455,750	128,817	161,507	106,126	128.3	22.50	Nov 12, 2024	IFRS
YoY	+7.7%	-4.4%	+28.3%	+50.3%	+54.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	120,256	46,310	52,859	35,167	41.2	38.5	Nov 9, 2023	IFRS
Oct - Dec, 2023	84,577	4,546	-41,660	-41,887	-49.2	5.4	Feb 8, 2024	IFRS
Jan - Mar, 2024	108,418	29,146	54,239	35,918	42.8	26.9	May 14, 2024	IFRS
Apr - Jun, 2024	122,474	45,224	61,434	39,878	47.6	36.9	Aug 8, 2024	IFRS
Jul - Sep, 2024	135,593	51,535	38,907	27,023	32.3	38.0	Nov 12, 2024	IFRS
YoY	+12.8%	+11.3%	-26.4%	-23.2%	-21.5%