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[Concall] Pearl Abyss Red Desert, Partners are being verified

Pearl Abyss held a conference call from 8:00 am on November 11 and 2022. In this conference call, Pearl Abyss introduces the previous Q & A with major questions and answers in the second quarter of 2022. I went.

Day: August 11, 2022 (Thu) 08: 00 ~ 09: 00

True Seok: CEO Huh Jin-young, CBO Kim Kyung-man, Cho Seok-woo CFO

Announcement: Total performance and QNA in the second quarter of 2022

■ Pearl Abyss Black Desert, completed global service in 9 years

Cho Seok-woo said, The Black Desert and Eve IP focused on operations and updates based on user communication in the second quarter. The Latin American market has achieved sales of 300% and new users by 750% since the transition to Pearl Abyss direct service.

Pearl Abyss recently stressed that it is trying to strengthen user communication. In the second quarter of the Black Desert, the new class 'Dracania' and the opening of the season server where new users can grow rapidly were introduced. Eve has increased the settlement rate by introducing an AIR career program that helps new users choose a job.

Cho Seok-woo, CFO, said, We will continue to worry about the user and run the game to continue stable service.

Pearl Abyss 2Q sales increased 6.2% year-on-year, up 2.8% QoQ to W94bn. Operating profit is a loss of 4.2 billion won, which turned deficit compared to electricity. Net profit increased 1,042% year-on-year to W32bn, up 451.7% QoQ.

Pearl Abyss' sales accounted for 31%, up 4%p from electricity. As the proportion of Asia increased, the share of domestic domestic decreased 4%p from 17%.

Pearl Abyss 2Q operating costs increased 13.9% QoQ to W98.2bn. Cho Seok-woo, CFO, explained, Labor costs have increased due to treasury stocks and incentives.

As of the end of the second quarter, there were 1,515 Pearl Abyss. The number of developers is 977, which is 65%.

Cho Seok-woo, CFO, said, We will do our best to prepare new games by showing the steady live service of the Black Desert and Eve IP. We will add Spanish to Eve so that more users can enjoy in a comfortable language, he said.

Cho Seok-woo, CFO, said, We have achieved global direct service in the 9th year of the Black Desert Service.

■ Q&A Q. Share the Red Desert, Goblin, Plan 8 progress.

Huh Jin-young CEO = The Red Desert has recently been released to several partners, including console companies. Along with the demonstration of the game, the partner has a private place to play. During the game, global game officials will show the game in private and will be verified.

The Red Desert will release more than 10 minutes of play this year. The detailed release date is difficult to reveal in detail because of the completion of the game and the burden of development. However, it will satisfy the expectations of those waiting for the red desert through the video to be released.

Goblin is focusing on showing more advances than previous release. This year, we will focus on the red desert, and we will disclose the ghosts according to the preparation situation in the future.

Plan 8 is delayed due to the concentration of red deserts and goblins. Plan 8 will also be prepared to disclose the future development process.

Q. How much is the incentive expenses for labor costs?

Cho Seok-woo CFO = We paid about 8 billion won in incentives, including treasury stocks in the second quarter, to all members. It is part of the 'treasury stock program' introduced last year as a reward for all employees to share the future value together. In amount, it was paid at W8bn, including treasury stocks of 7.5 billion won and some cash of 500 million won.

Q. There was no new work in the second quarter, but the reason for the increase in advertising costs?

Cho Seok-woo CFO = Last quarter had no large marketing, but the marketing cost increased due to the event. In fact, in the second quarter, marketing cost execution is a large quarter, but we will continue to make efficient marketing costs in the future.

Q. Net profit has increased significantly, but please explain.

Cho Seok-woo CFO = In the case of net profit, the three largest factors have grown. The biggest influence was the corporate tax corruption. We have tried to receive some of the two-year payment corporate tax, and we have been refunding the corporate tax of 18 billion won in the past.

The second is foreign exchange-related revenue. Recently, the foreign exchange value has increased due to the recent rise in exchange rates, and net profit has increased due to the increase in related losses.

Lastly, accounting profits are big game studio equity evaluation benefits. As Big Game Studio attracted external investments, equity method evaluation profits were not influenced, but accounted for a lot of money.

Q. What is the progress of the black crover?

All of our developers, including Cho Seok-woo CFO = Big Game Studio, are all operated as independent studios. Matters related to the new work will be guided through each company.

Q. Is the treasury stock program in 2Q every year?

Hur Jin-young = All employees are planning to share their future value every year. It can change depending on the management situation.

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