Valofe Records Operating Profit of KRW 1.7 Billion in Q2, Up 320% Year-on-Year
The performance of Valofe, a global game publishing platform company, has improved significantly.
On August 10, Valofe announced its half-year results, stating that it recorded consolidated sales of 12.4 billion won and operating profit of 1.7 billion won in the second quarter of this year.
Compared to the same period last year, sales jumped 40%, while operating profit soared 320%. The improvement in results was driven by Valofe's stable service operations based on global republishing and the growth of its in-house global platform "VFUN."
Based on VFUN, Valofe is expanding its services in various regions including North America, Germany, Turkey, and Taiwan. The cumulative number of VFUN subscribers surpassed 10 million last year and continues to grow steadily. In addition, Valofe is further solidifying its position as a global platform through the open community platform "Orvvit," which was launched last year.
In addition to its existing game services and platform business, Valofe is accelerating the diversification of businesses based on its own intellectual property (IP). Leveraging its IPs such as "Last Origin," the company is gradually expanding its secondary content business into figures, music, merchandise, webtoons, and animations. In the Japanese market, business related to secondary works based on the "Last Origin" IP is in full swing, with more than 16 contracts signed to date.
Meanwhile, Valofe has also been actively taking steps to enhance shareholder value and restore market confidence, including the cancellation of about 370,000 treasury shares last month.
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A Valofe representative stated, "In the second half of this year, we intend to completely dispel market concerns and significantly raise our corporate value through smooth progress of our new game lineup, successful entry into the Chinese market, as well as aggressive expansion via acquisition of new IP and M&A initiatives."
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