KRAFTON RECORDS ALL-TIME HIGHS IN SALES (2.7098T KRW) AND OPERATING PROFIT (1.1825T KRW) IN 2024

KRAFTON, Inc. held an Investor Relations (IR) briefing on February 11, announcing its financial results for the fourth quarter and full year of 2024. 

According to consolidated financial statements under Korean International Financial Reporting Standards (K-IFRS), KRAFTON recorded 2.7098T KRW and operating profit (OP) of 1.1825T KRW for 2024, marking new all-time highs. These figures represent year-over-year (YoY) growth of 41.8% in sales and 54.0% in OP, driven by the continued expansion and sustainability of the PUBG IP, resulting in an average annual sales growth rate of 20% over the past five years. In the fourth quarter of 2024, KRAFTON recorded 617.6B KRW in sales and 215.5B KRW in OP, reflecting YoY increases of 15.5% and 31.1%, respectively. 

Key Achievements in 2024 

In 2024, KRAFTON surpassed 1T KRW in operating profit for the first time since its founding. The transition of PUBG: BATTLEGROUNDS to a free-to-play model has continued to drive growth, with the game reaching a record Peak Concurrent Users (PCU) of 890,000 on PC and console. This growth, combined with the successful IP collaborations with various brands, drove PC/Console sales to nearly 1T KRW.  

On mobile, KRAFTON expanded its global reach, including emerging markets. BATTLEGROUNDS MOBILE INDIA (BGMI) recorded its highest-ever sales, contributing to a 35.7% YoY increase in mobile revenue. 

Business Strategy for 2025 

KRAFTON plans significant investments in securing a ‘Big Franchise IP’, in line with its ‘Scale-up the Creative’ strategy and the continued expansion of the PUBG IP. The company has set a mid-to-long-term goal of reaching 7T KRW (XX USD) in revenue and doubling corporate value within the next five years through a structured growth strategy. 

Driven by the PUBG IP as its main force of growth, KRAFTON will introduce diverse content and services across the franchise for all fans to enjoy. Collaborations, maps, modes, and other core content will be enhanced for an elevated user experience, and new games based on the PUBG IP will be released to establish a stronger presence across global markets and platforms. KRAFTON’s key strategic lineup includes inZOI, DARK AND DARKER MOBILE, Subnautica 2, and Dinkum Together. 

Beyond gaming, KRAFTON further unveiled its ambition to boost future innovation in the industry by leveraging AI. On top of ongoing and close collaboration efforts with NVIDIA and OpenAI, KRAFTON aims to enhance its AI capabilities, such as CPC (Co-Playable Character) technology, to introduce new gameplay experiences worldwide. 

India remains one of KRAFTON’s leading strategic markets, with plans to strengthen BGMI’s presence through large-scale content updates and region-specific strategies. KRAFTON also plans to push long-term growth in India by increasing publishing efforts and exploring new business opportunities. 

CEO CH Kim stated, “While continuing to expand the PUBG IP, we will accelerate the discovery of a new franchise IP to further reinforce our competitive edge in the global gaming market,” adding, “With our AI technology defining the future of gaming experiences, we aim to evolve beyond game development as a company that ultimately advances the global entertainment ecosystem.” 

▲Table: KRAFTON’s 2024 (preliminary) yearly earnings on a consolidated basis (Unit: 100M KRW) 

▲Table: KRAFTON’s 2024 (preliminary) fourth quarter earnings on a consolidated basis (Unit: 100M KRW)