[Alpha Biz=(Chicago) Reporter Paul Lee] Kakao Pay posted an operating loss of 45.5 billion won last year, widening its deficit. Kakao Pay said it would improve profitability this year.
Kakao Pay announced on the 7th that its consolidated sales rose 14% year-on-year to 521.7 billion won last year. Sales of payment services increased 27% year-on-year, driving sales growth.
Despite the growth of sales, the operating loss was 45.5 billion won. Compared to the previous year's operating loss of 27.2 billion won, it increased by 67.2%. EBITDA (operating profit before deducting corporate tax, interest, and depreciation costs) also showed negative (-) 22.4 billion won, continuing its deficit.
On the other hand, net profit turned to a surplus of KRW 27.5 billion as financial income increased due to cash management.
During the same period, operating profit on a separate basis turned into a surplus of 33.2 billion won. On a separate basis, the annual operating profit ratio is 6.9%. I had an operating loss of 400 million won last year.
Consolidated operating losses in the fourth quarter of last year continued to be 22.3 billion won. However, the deficit decreased compared to the previous year's operating loss of 28.8 billion won. Sales in the fourth quarter were 122.9 billion won, down 3.6% from the previous year. On the other hand, net profit in the fourth quarter was 34.1 billion won.
Alphabiz Reporter Paul Lee(hoondork@alphabiz.co.kr)
