INCAR FINANCIAL SERVICE (211050) Q3 2024 earnings summary

Executive summary

• Achieved strong revenue growth in 2024 Q3, with consolidated sales of ₩631.5 billion, up 60.9% year-over-year.

• Net income for the period reached ₩48.3 billion, a significant increase from ₩19.7 billion in the prior year.

• Maintained a leading market position in the insurance agency sector, expanding the sales force to 16,000 agents.

Financial highlights

• Consolidated revenue for 2024 Q3: ₩631.5 billion (up 60.9% YoY); operating income: ₩67.9 billion (up 46.2% YoY).

• Net income: ₩48.3 billion (up 145.8% YoY); EPS: 978 KRW (up from 383 KRW).

• Total assets: ₩604.4 billion; total equity: ₩135.5 billion; total liabilities: ₩468.9 billion.

Outlook and guidance

• Continued focus on expanding agent network and digital platforms to drive future growth.

• Ongoing investments in technology and hybrid sales channels to adapt to evolving market needs.