With 2014 sales up 79% to $131 million, Gamevil predicts 2015's sales will rise another 120%

Korean RPGs drive the growth

With 2014 sales up 79% to $131 million, Gamevil predicts 2015's sales will rise another 120%

Korean mobile game publisher Gamevil (KOSDAQ:063080) has announced its FY2014 figures, for the 12 months ending 31 December 2014.

Annual earnings were $131 million (KRW 145 billion), up 79 percent year-on-year.

This was the first time that Gamevil's annual sales have been more than KRW 100 billion.

And the company now predicts FY15 sales will be KRW 217 billion. That would be a further year-on-year rise of 120 percent.

Net profit was $20.6 million (KRW 22.8 billion), up 63 percent year-on-year.

Last quarter

Looking at Q4 figures, earnings were $37.5 million (KRW 41.5 billion), up 85 percent year-on-year, but down 2 percent quarter-on-quarter.

Gamevil's year-on-year growth is explosive, but quarter-on-quarter sales declined

Net profit was $5.3 million (KRW 5.9 billion).

Seoul trade

Unlike other key Korea mobile publisher Com2uS, which is almost twice as big as Gamevil (and in which Gamevil owns a controlling stake), the majority of Gamevil's revenues are generated from its domestic market.

During the current quarter, Gamevil's revenue was split 61 percent Korea, 39 percent international.

Growth is also Korea-centric. Korea revenue was up 175 percent year-on-year in Q4, while international sales were up 23 percent.

Gamevil is biggest in Korea

Breaking down international sales further, APAC (Taiwan, Japan, and China) accounted for 44 percent, North America 30 percent, Europe 23 percent and LATAM 3 percent.


Looking at specific titles and genre mix, 60 percent Gamevil's FY14 revenues came from RPGs such as Monster Warlord and Dragon Blaze.

Strategy had a 17 percent share and sports 20 percent.

RPGs are the thing for Gamevil

And like many companies, Gamevil is generating an increasing proportion of its sales from a smaller number of titles.

In 2014, five games - Dragon Blaze, Kritika, Monster Warlord, Fishing Superstars and Perfect Inning KBO 2014 - accounted for 69 percent of the company's total.

This compares with 60 percent of revenue from the top 5 titles in 2013.

[source: Gamevil (PDF)]

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