Soulbrain (357780) Q4 2024 earnings summary

Executive summary

• Received an unqualified audit opinion for the 2024 and 2023 financial statements, confirming fair presentation under Korean IFRS.

• Internal control over financial reporting was found effective as of December 31, 2024.

• Export sales recognition timing was a key audit matter due to its materiality and management judgment required.

Financial highlights

• Revenue for 2024 was ₩798.2 billion, up slightly from ₩795.3 billion in 2023.

• Operating income rose to ₩154.9 billion in 2024 from ₩131.1 billion in 2023.

• Net income for 2024 was ₩130.4 billion, down from ₩141.2 billion in 2023.

• Basic and diluted EPS for 2024 was ₩16,846, compared to ₩18,231 in 2023.

• Cash and cash equivalents increased to ₩172.9 billion at year-end 2024 from ₩90.4 billion in 2023.

Outlook and guidance

• Dividend for 2024 proposed at ₩2,300 per share, up from ₩2,000 in 2023, pending shareholder approval.

• No significant impact expected from new or revised accounting standards adopted in 2024.