GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a
developer and publisher of online and mobile games based in South
Korea, today announced its selected preliminary unaudited financial
results for the fourth quarter ended December 31, 2018 and business
updates.
Revenues and Operating profit
Tentative consolidated revenues for the fourth
quarter of 2018 is KRW 111 billion and operating profit is KRW 12
billion.
(In billions of KRW)
|
Three Months Ended |
QoQ |
YoY |
|
3Q 2018 |
4Q 2017 |
4Q 2018 |
Revenues |
44 |
67 |
111 |
152.3% |
65.7% |
Operating profit |
7 |
2.9 |
12 |
71.4% |
313.8% |
The preliminary fourth quarter 2018 figures are
unaudited and subject to revision. Final results for the fourth
quarter and year ended December 31, 2018, will be provided our
annual report for the fiscal year ended December 31, 2018 on Form
20-F.
Liquidity
The balance of cash and cash equivalents and
short-term financial instruments was KRW 95.5 billion as of
December 31, 2018.
GRAVITY BUSINESS UPDATES
Ragnarok Online IP-based Games
- Ragnarok M: Eternal Love, an MMORPG mobile game
Gravity launched Ragnarok M: Eternal Love in
North America, South America, and Oceania on January 9, 2019. The
game is available in 43 regions across North America, South
America, and Oceania and four languages including English,
Portuguese, Simplified Chinese, and Korean. Based on revenues, the
game is in the upper ranks of mobile games in Google Play Store /
Apple App store in certain regions including Brazil, Canada,
Australia, New Zealand and Chile after launching, at its peak.
Gravity also is preparing for the service in Japan during 2019.
- Ragnarok Web MMORPG, a web browser-based 3D new version of
game
Ragnarok web MMORPG is scheduled to be launched
in Taiwan, Hong Kong, and Macau in the first half of 2019. The game
upgraded the sequel to Ragnarok Prequel with delicate effects and
full 3D. Ragnarok Prequel launched in Taiwan in July 2016.
- Ragnarok Adventurer, an 3D ARPG mobile game
Ragnarok Adventurer is scheduled to be launched
in 2019. The game, the sequel to Ragnarok R, will feature 3D
graphics, team play functions and real-time communication through
voice chatting.
- Other Ragnarok Online IP-based games
A 3D Action MORPG mobile game, Ragnarok Spear of
Odin, is expected to be launched in Taiwan, Hong Kong, and Macau in
the first half of 2019. The game was developed by NeoCyon, our
Korean based subsidiary and Gravity also is preparing the other
games based on Ragnarok Online IP.
RO Click H5, a HTML 5 version of idle game, is
expected to launch in Korea in March 2019. The game is easy to
access both mobile and PC web browsers without installing. Also,
there are various social contents such as a guild or a chatting
system. Gravity plans to launch this game globally in 2019.
Other IP games
- A MORPG mobile game, Dawn Break X RO Collaboration, launched in
Korea on 29 January 2019. The game is a collaboration with
Ragnarok’s characters and contents. It has various scenario and
contents with quality live 2D graphics.
Our New Joint Venture/Subsidiary
Gravity established a Joint Venture in Indonesia
with Lyto, which is our local licensee for Ragnarok Online for 15
years and a subsidiary in Thailand. Gravity will expand various
game services including Ragnarok Online IP based games throughout
Southeast Asia.
Investor Presentation
Gravity issued an investor presentation. The
presentation contains the Company’s recent business updates,
preliminary results of the fourth quarter in 2018 and Gravity’s
business plan. The presentation can be found on the Company’s
website under the IR Archives section at
http://www.gravity.co.kr/en/ir/pds/list.asp. Korean and Japanese
versions of the presentation are also provided on the website.
About GRAVITY Co., Ltd.
---------------------------------------------------
Based in Korea, Gravity is a developer and
publisher of online and mobile games. Gravity's principal product,
Ragnarok Online, is a popular online game in many markets,
including Japan and Taiwan, and is currently commercially offered
in 81 markets and countries. For more information about Gravity,
please visit http://www.gravity.co.kr.
Forward-Looking Statements:
Certain statements in this press release may
include, in addition to historical information, "forward-looking
statements" within the meaning of the "safe-harbor" provisions of
the U.S. Private Securities Litigation Reform Act 1995.
Forward-looking statements can generally be identified by the use
of forward-looking terminology, such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe", "project," or
"continue" or the negative thereof or other similar words, although
not all forward-looking statements contain these words. Investors
should consider the information contained in our submissions and
filings with the United States Securities and Exchange Commission
(the "SEC"), including our annual report for the fiscal year ended
December 31, 2017 on Form 20-F, together with such other documents
that we may submit to or file with the SEC from time to time, on
Form 6-K. The forward-looking statements speak only as of this
press release and we assume no duty to update them to reflect new,
changing or unanticipated events or circumstances.
Contact:
Mr. Heung Gon Kim Chief Financial Officer
Gravity Co., Ltd. Email: kheung@gravity.co.kr
Ms. Sang Eun Sung IR Manager Gravity Co.,
Ltd. Email: ir@gravity.co.kr Telephone: +82-2-2132-7800
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