SAMG Entertainment, profitable turnaround in the 1st quarter after being listed in the Korean Stock market. 30% increase in the revenue

• -SAMG Entertainment recorded an operating profit of 250 million Korean won in the first quarter, with revenue increasing 30.3% compared to the previous year.

• -”Achieved a turnaround to profitability in the 1st quarter following our listing on the stock market. Anticipating continued rapid growth this year”

SAMG Entertainment successfully achieved a turnaround to operating profit in the first quarter after its listing on the technology special stock market.

SAMG Entertainment announced on the 12th that its revenue for the first quarter of 2023 reached 21,027,440,000 KRW, showing a 30.3% increase compared to the same period last year.

The operating profit for the first quarter was recorded at 255,690,000 KRW. This marks a successful turnaround to profitability in the first quarter since the company’s listing under the technology special listing. The net profit for the period also turned into a profit, recording 522,950,000 KRW.

The increase in sales of merchandise, including toys, can be attributed to the rising popularity of core intellectual properties (IPs) such as ‘Catch! Teenieping’ and other IPs like ‘MiniForce,’ ‘Super Dino,’ and ‘Lulupop.’ Additionally, the launch of a new IP called ‘Metal Cardbot’ in March further secured additional momentum for the company.

Chinese sales have also shown an increasing trend, particularly with ‘Catch! Teenieping’ and ‘Miniforces’ as the key contributors. SAMG’s first-quarter revenue in China reached 1.86 billion won, marking a significant growth of 111% compared to the same period last year. It’s worth noting that this revenue was generated over the course of one month in March, considering the fact that a local distribution subsidiary was established in Guangzhou on February 22nd.

New businesses such as fashion, food and beverage (F&B), e-commerce (Emotion Castle platform), and ECastle (offline space specialist subsidiary) have also begun to experience substantial revenue growth. The first-quarter revenue from new businesses reached 1.46 billion won, surpassing the annual revenue from new businesses in the previous year (1.3 billion won).

SAMG Entertainment officials stated, “It is unusual for a company listed through a special technological listing to achieve profitability in the first quarter immediately after listing. In the second quarter, we also anticipate rapid growth due to factors such as the Children’s Day season, and we will do our best to meet the market’s expectations and achieve the desired performance.”