NICE Information Service (A030190) Q2 2024 earnings summary

Executive summary

• Maintained position as the leading domestic credit bureau with diversified business lines in consumer, corporate, and big data services.

• Achieved stable revenue and profit growth in 2Q 2024, driven by increased information inquiry volumes and expansion in non-financial data services.

• Continued expansion into new business areas, including alternative credit scoring, MyData, ESG evaluation, and international markets.

Financial highlights

• 2Q 2024 consolidated revenue reached 253.9B KRW, up 4.1% year-over-year and 6.8% quarter-over-quarter.

• Operating profit for 2Q 2024 was 41.5B KRW, up 28.6% year-over-year and 38.2% quarter-over-quarter, with an operating margin of 18.4%.

• Net income for 2Q 2024 was 36.4B KRW, up 11.3% year-over-year, with a net margin of 14.3%.

• Total assets as of 2Q 2024 stood at 486.8B KRW, with total capital of 375.0B KRW.

Outlook and guidance

• Focus on expanding alternative credit scoring models using non-financial data to enhance risk prediction and serve thin-file customers.

• Continued investment in MyData business for both B2B and B2C markets, aiming for integrated asset management and financial solutions.

• Plans to accelerate international growth, particularly in Vietnam and ASEAN, by acquiring private credit bureau licenses and launching new services.

• Ongoing development of ESG evaluation and consulting services to capture growing demand from financial institutions and corporates.