Neowiz (co-representatives Kim Seung-chul and Bae Tae-geun) announced their second quarter results of 2022 on the 11th.
Sales in the second quarter according to K-IFRS consolidated financial statements were 70.3 billion won, operating profit of 5.9 billion won, and net profit of 20.8 billion won. This is an increase of 19%, 13%, and 150%, respectively, compared to the same period last year.
Sales in the mobile game sector rose 10% year-on-year to 33.9 billion won. Although the sales of existing games decreased compared to the previous quarter due to the seasonal off-season impact of web board games, the “Brown Dust and Puzzle” released in July is showing a high residual rate, and the performance of web board games is also expected to improve due to deregulation.
Sales in the PC/console game sector are 29.4 billion won, up 9% from the same period last year-on-year. In the second half of the year, the indie games “Aka” and “Sanabi” will introduce official versions, starting with the launch of “A.V.A. Global” on the steam platform. Other sales have been reflected in mobile advertising sales of subsidiary T&K Factory since the first quarter, recording 7 billion won similar to the previous quarter.
Neowiz will focus on developing new works in the second half of the year. First, “Cats and Soup,” which has established itself as a global IP (intellectual property right), has confirmed a total of three next works, including casual simulation games, social network games (SNG), and puzzle games, and is being developed with the goal of releasing them in the first half of next year. RPG genres ‘Brown Dust Story’ and ‘Master of Knights’ will also be released in the third and fourth quarters.
The large-scale new film “Lies of P,” which is drawing attention in the global market, will also carry out various activities to increase its contact with users, including demonstrations at game shows, starting with the release of new cinematic videos and game play videos.
It is also stepping up its blockchain business. Neowiz officially announced its own web 3.0 blockchain game platform “Intella X” on the 9th. Intel X will be built on Polygon Network and will be open by the end of this year. Starting with the social casino games “House of Poker” and “House of Slot,” a total of seven games, including two “Cat and Soup” IP-based games, “A.V.A,” “Crypto Golf Impact,” and “Brave Nine,” will be on-boarded sequentially. Neowiz plans to exclusively onboard its lineup to Intel X. It will also collaborate with external developers and focus on building Intel X ecosystem.