Gravity Reports Fiscal Performance with Annual 20-F Filing
Gravity Co., Ltd. Files Annual Report on Form 20-F
Gravity Co., Ltd. (NASDAQ: GRVY) has recently shared important updates regarding its fiscal performance. The company officially filed its annual report on Form 20-F, covering the financial year that concluded on December 31, 2024. This filing was submitted to the Securities and Exchange Commission, underscoring Gravity's commitment to transparency with its investors and stakeholders.
Key Financial Metrics for Fiscal Year 2024
The annual report highlights several key financial metrics that reflect the company's performance throughout 2024. The consolidated revenue reported by Gravity stands at KRW 500,845 million. This figure represents a decrease in comparison to the previous year's revenue of KRW 725,516 million, marking a year-on-year decline of 31%.
Operating Profit Overview
In addition to revenue, the report details the operating profit, which amounted to KRW 85,384 million for the fiscal year. This is a notable decline from the 2023 operating profit of KRW 160,367 million, illustrating a significant drop of 46.8%. Understanding these financial dynamics is crucial for stakeholders tracking Gravity's operational efficiency and profitability.
Net Profit Attribution
The net profit attributable to the parent company was reported as KRW 84,919 million, compared to KRW 132,019 million the prior year. This decline of 35.7% signals the challenges Gravity faced within the fiscal period, prompting considerations for strategic adjustments moving forward.
Accessing the Annual Report
For shareholders and American Depositary Share (ADS) holders, a hard copy of the annual report, which includes comprehensive audited consolidated financial statements, is available free of charge upon request. Stakeholders are encouraged to reach out to the Investor Relations Unit at Gravity's headquarters.
About Gravity Co., Ltd.
Established as a prominent player in the entertainment industry based in South Korea, Gravity is renowned for developing and publishing both online and mobile games. The company's flagship product, Ragnarok Online, has won the hearts of many gamers, particularly in regions such as Japan and Taiwan, where it is actively commercially available across 91 markets.
Gravity's continued focus on game innovation and user engagement is expected to enhance its market position, allowing the company to navigate fiscal uncertainties effectively. For more detailed insights into Gravity's offerings, potential investors can refer to their official website.
Contact Information for Inquiries
For any queries or further information about the financial report and company operations, stakeholders can connect with:
Mr. Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: kheung@gravity.co.kr
Additionally, the Investor Relations Unit can be contacted through:
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7800
Frequently Asked Questions
What financial performance did Gravity report for 2024?
Gravity reported a consolidated revenue of KRW 500,845 million and a net profit of KRW 84,919 million for fiscal year 2024.
How can shareholders obtain a copy of the annual report?
Shareholders can request a hard copy of the annual report, which is provided free of charge upon request.
What challenges did Gravity face in 2024?
The company experienced significant declines in revenue and profit year-on-year, reflecting operational and market challenges.
What is the significance of the Form 20-F filing?
The Form 20-F filing provides vital financial information and insights about Gravity’s operational performance to investors and stakeholders.
Who can I contact for more information about Gravity?
For inquiries, you can reach out to Mr. Heung Gon Kim, the CFO, or the Investor Relations Unit via email or telephone.
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