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
result for the fourth quarter ended December 31, 2021 and business
updates.
PRELIMINARY UNAUDITED FOURTH QUARTER
2021 FINANICIAL RESULT
Revenue and operating profit
Tentative consolidated revenue for the fourth
quarter of 2021 is KRW 97 billion and operating profit is KRW 10
billion. The preliminary fourth quarter result is mainly attributed
by decreased revenues from Ragnarok X: Next Generation in Southeast
Asia, Ragnarok Online in Taiwan, and Ragnarok Origin in Japan and
Korea representing a 24.6% decrease QoQ. This decrease is partially
offset by increased revenue from Ragnarok Origin launched in the
United States and Canada on November 10, 2021.
Unaudited preliminary consolidated revenue for
2021 is KRW 414 billion and operating profit is KRW 97 billion.
The preliminary 2021 figures are unaudited and
subject to revision. Final result for the fourth quarter and year
ended December 31, 2021, will be provided by our annual report for
the fiscal year ended December 31, 2021 on Form 20-F.
Liquidity
The balance of cash and cash equivalents and
short-term financial instruments was KRW 247 billion as of December
31, 2021.
GRAVITY BUSINESS UPDATE
Ragnarok Online
Gravity Game Hub PTE., Ltd., a subsidiary in
Singapore, is going to launch Ragnarok Online in the Philippines,
Singapore and Malaysia in February, 2022.
The Labyrinth of Ragnarok and Ragnarok
Poring Merge
The Labyrinth of Ragnarok, a Time Effective
MMORPG mobile game, and Ragnarok Poring Merge, a Time Effective RPG
mobile game, are preparing to be designed as blockchain games
combined with NFT items and P2E systems. The games are targeting to
be launched in Southeast Asia in the first half of 2022.
Ragnarok Online IP-based
Games
- Ragnarok Origin, a MMORPG mobile
game
Ragnarok Origin was launched in the United
States and Canada on November 10, 2021. The game is planning to be
launched in additional markets within the year of 2022.
- Other Ragnarok Online IP-based
games
Ragnarok V: Returns, a MMORPG mobile and PC
game, is expected to hold the closed beta test (“CBT”) for mobile
game version in Oceania in February, 2022. The game is scheduled to
run the second CBT for mobile and PC game version, and is targeting
to be launched in the second quarter of 2022. The game has been
developed by Gravity NeoCyon, Inc., our subsidiary in Korea.
Ragnarok Begins, a MMORPG mobile and PC game, is
scheduled to run the second CBT for mobile and PC game version in
the second half of 2022. The game has been developed by
Gravity.
Ragnarok Monster’s Arena, a Card SRPG mobile
game, started the CBT in Taiwan, Hong Kong and Macau on January 19,
2022, and is scheduled to be launched in the first half of
2022.
Ragnarok: The Lost Memories, a Cinematic Newtro
Story RPG mobile game, was launched in the Philippines, Singapore
and Malaysia on December 13, 2021, and in North America and Brazil
on January 13, 2022. The game is preparing to provide PC game
service on Steam in global in March, 2022, and has been developed
by Gravity NeoCyon, Inc., our subsidiary in Korea.
Other IP games
PALADOG TACTICS, a SRPG mobile game, will run
CBT and is scheduled to be launched in March, 2022. The game has
been developed by Gravity NeoCyon, Inc., our subsidiary in
Korea.
Our New Subsidiary
Gravity established Gravity Game Vision Limited
(“Gravity Game Vision”), a subsidiary in Hong Kong, on January 5,
2022. Gravity will expand various game services including Ragnarok
Online IP based games throughout Gravity Game Vision in Hong Kong
and China regions.
Investor Presentation
Gravity issued an investor presentation. The
presentation contains the Company’s recent business updates,
preliminary results of the fourth quarter in 2021 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.
---------------------------------------------------
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 91 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, 2021 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 KimChief Financial
OfficerGravity Co., Ltd.Email: kheung@gravity.co.kr
Ms. Jin LeeMs. Hye Ji An IR UnitGravity
Co., Ltd.Email: ir@gravity.co.kr Telephone: +82-2-2132-7800
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