Gravity(US:GRVY)2025-03-31 10:01Financial Performance - Revenues decreased to KRW 179,302,825 thousand in 2024, a decline of 26.0% compared to KRW 242,775,498 thousand in 2023[6] - Operating income fell to KRW 44,190,431 thousand in 2024, down 37.5% from KRW 70,755,035 thousand in 2023[6] - Net income increased to KRW 87,892,355 thousand in 2024, a rise of 25.4% from KRW 70,169,563 thousand in 2023[6] - Revenues for 2024 were 500,845,120 thousand Korean Won, a decrease of 30.9% compared to 725,515,935 thousand Korean Won in 2023[24] - Operating profit decreased to 86,188,690 thousand Korean Won in 2024, down 46.4% from 161,005,206 thousand Korean Won in 2023[24] - The company reported a profit for the year of 84,902,208 thousand Korean Won in 2024, a decline of 35.5% from 131,982,061 thousand Korean Won in 2023[24] - Basic earnings per share decreased to 12,221 in 2024 from 18,999 in 2023, reflecting a decline of 35.5%[24] Assets and Equity - Total assets increased to KRW 462,096,888 thousand in 2024, up 22.7% from KRW 376,446,483 thousand in 2023[6] - Total equity increased to KRW 418,653,735 thousand in 2024, up 26.5% from KRW 330,761,380 thousand in 2023[6] - Total assets increased to 686,458,942 thousand Korean Won in 2024, up from 578,180,721 thousand Korean Won in 2023, representing a growth of approximately 18.7%[23] - The total equity attributable to owners of the parent company rose to 567,672,221 thousand Korean Won in 2024, up from 463,087,831 thousand Korean Won in 2023, marking an increase of 22.6%[23] Liabilities - Current liabilities decreased to KRW 36,037,103 thousand in 2024, down 13.5% from KRW 41,707,393 thousand in 2023[6] Cash Flow - Cash and cash equivalents at the end of 2024 were 228,898,026 thousand Korean Won, an increase of 24.4% from 184,081,815 thousand Korean Won in 2023[26] - Cash flows from operating activities were 78,555,174 thousand Korean Won in 2024, down from 132,429,737 thousand Korean Won in 2023, a decrease of 40.7%[26] - Cash flows from operating activities were 80,267,527 thousand Korean Won in 2024, slightly down from 85,687,105 thousand Korean Won in 2023[31] Non-Operating Income - Non-operating income increased significantly to 20,158,344 thousand Korean Won in 2024, compared to 7,693,403 thousand Korean Won in 2023[24] - The company reported a significant increase in financial income to 20,047,120 thousand Korean Won in 2024, compared to 16,603,926 thousand Korean Won in 2023[28] Company Structure and Strategy - The company has 9 subsidiaries across various countries, enhancing its global presence in the gaming industry[10] - The major shareholder, GungHo Online Entertainment, Inc., owns 59.31% of the company[13] - The company aims to diversify its revenue structure and expand into new markets, particularly in mobile gaming and IP licensing[12] - The company established a new subsidiary, Gravity Game Unite Sdn. Bhd., in Malaysia on March 12, 2025, indicating a strategy for market expansion[22] Employment - The company employed a total of 414 individuals as of December 31, 2024, including 238 developers[19] Retained Earnings - The company plans to carry forward unappropriated retained earnings of 387,696,602 thousand Korean Won in 2024, up from 299,804,247 thousand Korean Won in 2023[29]