Kiwoom Securities (039490) Q2 2024 earnings summary

Executive summary

• Achieved consolidated operating income of ₩650.0 billion and net income of ₩477.2 billion for H1 2024, up 14.1% and 12.0% year-over-year, respectively.

• Maintained #1 market share in domestic online brokerage for 19 consecutive years, with a 19.8% overall and 30.0% retail share in H1 2024.

• Retail, S&T, IB, and investment management segments all contributed to strong performance, with notable growth in overseas stock trading and asset management.

Financial highlights

• Consolidated H1 2024 revenue: ₩4,923.9 billion; operating income: ₩650.0 billion; net income: ₩477.2 billion.

• Parent-only H1 2024 operating income: ₩566.1 billion (+14.2% YoY); net income: ₩452.5 billion (+20.5% YoY).

• Total assets at June 30, 2024: ₩51.6 trillion; equity: ₩5.29 trillion.

• H1 2024 ROE (consolidated): 9.1%; ROA: 1.9%.

• Net commission income for H1 2024: ₩396.8 billion; net interest income: ₩306.9 billion.

Outlook and guidance

• Plans to strengthen integrated financial investment platform, focusing on asset management and digital services.

• Aims to maintain leading brokerage market share and expand in asset management and overseas markets.

• Guidance for continued stable growth, leveraging digital transformation and diversified business lines.