Douzone Bizon (012510) Q2 2024 earnings summary

Executive summary

• Completed merger with former holding company, simplifying group structure and enhancing management efficiency as of February 29, 2024.

• Maintained strong position in enterprise software, cloud, and digital business platforms, with new product launches and ongoing R&D.

• Expanded global presence with new Japanese subsidiary and continued investments in fintech and digital transformation.

Financial highlights

• Consolidated revenue for H1 2024: ₩193.8 billion, down from ₩354.6 billion in H1 2023 due to merger-related base effects.

• Operating income: ₩38.5 billion (H1 2024), compared to ₩72.4 billion (H1 2023).

• Net income attributable to controlling interests: ₩27.0 billion (H1 2024), up from ₩13.8 billion (H1 2023).

• EPS (controlling interests): ₩1,147 (H1 2024), up from ₩1,082 (H1 2023).

• Cash and equivalents: ₩73.7 billion as of June 30, 2024.

Outlook and guidance

• Anticipates continued growth in cloud and SaaS markets, leveraging new product launches and digital transformation demand.

• Expects stable revenue and profitability as new business platforms and AI-based solutions gain traction.