Smilegate Achieves Largest Sales Over 1 Trillion Won Since its Incepti… 2021-04-13

■ Achieved record-high sales of over KRW 1 Trillion, operating profit of KRW 366.4 billion, and net income of KRW 315.5 billion 

■ 84% of the sales come from overseas, led by CROSSFIRE-Epic Seven-Lost Ark

■ In 2021, Smilegate will advance to the Western market with CrossFire X and continuously expand IP utilization to become a beloved IP powerhouse

 

[2021-0413] Smilegate surpassed KRW 1 trillion (about USD 903 million) in annual sales for the first time since its inception, thanks to its flagship IPs' solid performance Crossfire', 'Epic Seven', and 'Lost Ark'.

Smilegate announced on the 13th (Tue) that it recorded annual sales of KRW 1trillion 7.3 billion, operating profit of KRW 366.4 billion, and net profit of KRW 315.5 billion, along with the announcement of the group's consolidated sales audit report. Compared to the 2019 results, sales increased by 14%, operating profit by 26%, and net profit by 49%. 

In 2020, Smilegate made a remarkable performance in overseas markets. Overseas game sales recorded last year were 843 billion won, accounting for 83.7% of total sales, a 21% increase from the previous year. This number shows that Smilegate has grown into Korea's leading cultural content export company based on the global success of CROSSFIRE, Lost Ark, and Epic Seven. 

Smilegate, which started to record operating profits for the first time in 2007, has continued to expand its domestic business based on its overseas profits. Various CSR/CSV activities have been carried out to share valuable achievements with society. In particular, Smilegate is striving to lead more than 240 future innovative companies through youth entrepreneurship support programs, serving as a growth ladder. Smilegate's youth entrepreneurship support programs have created more than 2,000 jobs in various fields so far. In addition to supporting youth start-ups, Smilegate is also taking the lead in various social contribution activities to create a better future environment for underprivileged children and adolescents. 

Smilegate carried on in its challenge to create a globally beloved IP by continuous IP expansion. Smilegate entered Hollywood by signing a partnership for CROSSFIRE movie with Sony Pictures. In July of last year, the esports TV series 'Cheonwolhwaseon' (Chinese title of CROSSFIRE) was aired in China, recording an unprecedented hit of 1.8 billion viewership. In order to continue these achievements, Smilegate decided to enter the cultural industry using IP by discovering and securing various new IPs through the recently established 'SmilegateRealise'. 

Smilegate also revealed its ambition to target the global AAA console market, an unexplored area for Korean game developers, and aim to win the 'Game Of The Year' award. To this end, Smilegate has established a new development studio in Barcelona, Spain, last year and recruited developers of renowned titles such as 'Perfect Dark' and 'Horizon Zero Dawn', which critics and users have well received. Smilegate Barcelona started developing a blockbuster title to present a whole new game that the world has never experienced. In 2021, Smilegate will present 'CROSSFIRE X' with Microsoft, its first title to enter the Western console market. 

Joonho Sung, CEO of Smilegate Holdings, said, "This year, Smilegate endeavor to plant our major IPs CROSSFIRE, Lost Ark, and Epic Seven as a beloved IP with richer content and user-friendly service. Also, starting with Crossfire X, Smilegate will present game titles of another level and carry on the challenge."