FSN Posts Record-High Operating Profit of 12 Billion Won in Q2

FSN achieved record-high consolidated revenue and operating profit in the second quarter of this year.

According to FSN on August 18, second-quarter consolidated net profit reached 4.98 billion won, turning a profit from the previous quarter's loss. Revenue came in at 76.7 billion won, and operating profit was 12 billion won, up 6.4% and 26.0%, respectively, year-on-year. The operating margin also reached a record high of 15.6% on a quarterly basis. For the first half of the year, the cumulative revenue was 136 billion won, operating profit totaled 13.9 billion won, and net profit was 4.84 billion won.

The fact that FSN's consolidated net profit was lower than operating profit was attributed to recognition of accounting losses resulting from the increased corporate value of Boosters. This reflected derivative evaluation losses and accounting interest costs related to prior investments in Boosters—a purely accounting loss that does not involve any actual cash outflow. As a result, the company's fundamental business growth remains robust, and FSN expects continued improvements in net profit going forward.

This performance is significant not only because of top-line growth, but also due to improved profit quality. In the second quarter of last year, most of the 4.55 billion won in net profit was generated from discontinued operations. However, this year, about 92% of second-quarter net profit came from its core business. In the latest quarter, net profit attributable to controlling shareholders swung from a deficit in the first quarter to a surplus in the second quarter, and profit from continuing operations expanded approximately 4.2 times year-on-year. This demonstrates that, based on the competitiveness of its core business, FSN has built a stable profit-creation structure, and that its profit-focused management strategy has begun to bear fruit.

An FSN spokesperson commented, “These finalized results demonstrate that our business restructuring and profit-driven management strategy have translated into tangible outcomes. We plan to rapidly expand our proven high-earnings business models across the company and further enhance our performance and profitability in the second half of the year.”

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