[NX] Nexon 2012 Revenue Grows 24% To 108 Billion JPY or 1.16 Billion USD, Nexon America Struggles
2012 was a year in which Nexon made huge acquisitions and investments which boosted their mobile earnings and secured strategic global partnerships. This year Nexon’s revenue grew by 24% to 108 billion JPY, with USD revenues up only marginally to 1.16 billion due to a devaluing Japanese Yen. The growth was driven by the company’s acquisition of Gloops as well as continued strong growth in China. Nexon America saw 2012 revenue of 5.06 billion JPY (54.17 million USD) while the branch’s loss was 562 million JPY (6.02 million USD).
Highlights of fourth quarter 2012 financial results:
- Revenue was 30.9 billion JPY (331.08 million USD), up 39% year-over-year (YoY).
- Operating income was 9.7 billion JPY (103.93 million USD), up 5% YoY.
- Operating income margin was 32%.
- PC online revenue growth was driven by continued strong growth in China with key titles delivering solid results across Asia.
- Mobile business was successfully established with acquisitions of Gloops and inBlue.
- Mobile represented 23% of overall business by revenue.
- Chinese revenue grew 34% YoY; Korea declined by 2%, Japan rose by 172%, North American fell by 21% while Europe and Others rose by 4%.
- Nexon Monthly Active User (MAU) count fell to 68.3 million, but this was offset by a rise in the Pay Rate to 10.5% and a rise in ARPPU to 1,683 JPY (18 USD).
- Revenue was contributed as follows: China (36%), Japan (32%), Korea (23%), North American (4%), Europe and Others (5%).
More details and good reads can be found at Nexon’s press release, Consolidated Financial Results for Year ended December 31, 2012, the Q4 2012 Investor Presentation and the Letter to Shareholders.