NEXON Co., Ltd. Q1 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Financial Highlights (Q1 2020 vs. Q1 2019)
  • Revenue: ¥82.8 billion, ahead of outlook, down 11% YoY on reported basis, down 6% YoY on constant currency.
  • EBITDA: ¥49.9 billion.
  • Operating Income: ¥41.5 billion, within expectations.
  • Net Income: ¥49.9 billion, beat outlook, boosted by ¥18.7 billion FX gain.
  • Cash on Hand: ¥517.6 billion (~US$4.8 billion).
Regional Performance
  • Korea: Record revenue driven by:
    • MapleStory (PC): +132% YoY, highest quarterly revenue from the game.
    • MapleStory M (Mobile): +184% YoY, all-time quarterly high.
    • FIFA ONLINE 4: Record revenue.
    • Dungeon & Fighter: +53% YoY after major update.
    • Sudden Attack: +52% YoY driven by season pass and promotions.
    • V4 Mobile MMORPG: Performed above expectations.
  • China: Revenue inline with expectations, though affected by PC café closures.

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Operator: Good day, everyone and welcome to NEXON’s 2020 First Quarter Earnings Conference Call. Today’s call is being recorded. At this time, I would like to turn the call over to Maiko Ara, Head of Investor Relations and Corporate PR. Please go ahead. Maiko Ara: Hello, everyone, and welcome. Thank you for joining us today. With me are Owen Mahoney, President and CEO of NEXON; and Shiro Uemura, CFO. Today’s call will contain forward-looking statements, including statements about our results of operation and financial condition such as revenues attributable to our key titles, growth prospects including with respect to online game industry, our ability to compete effectively, adapt to new technologies and address new technical challenges, our use of intellectual property and other statements that are not historical facts. These statements represent our predictions, projections and expectations about future events, which we believe are reasonable or based on reasonable assumptions. However, numerous risks and uncertainties could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Information on some of these risks and uncertainties can be found in our earnings-related IR documents. We assume no obligation to update or alter any forward-looking statements. Please note net income refers to net income attributable to owner of the parent as stated in NEXON’s consolidated financial results. Furthermore, this conference call is

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