Seoul, South Korea - Yanolja, the South Korean travel technology company backed by SoftBank's Vision Fund 2, has announced its financial results for the fourth quarter of 2023, showing strong growth and profitability across its business segments.
The company reported consolidated revenues of KRW 219.7 billion (US$162.4 million), an increase of 27% compared to last year.
Yanolja also posted a record quarterly operating income of KRW 16.3 billion (US$12.1 million) and adjusted EBITDA of KRW 33.7 billion (US$24.9 million).
The robust performance was driven by steady revenue growth in the Yanolja platform, the first profitable quarter for the subsidiary Interpark Triple, and high profitability and revenue growth in the cloud business.
The company's rapid expansion into overseas markets also contributed significantly to the record quarterly operating profit.
Yanolja's platform business recorded revenues of KRW 97.3 billion (US$72.0 million), with operating income of KRW 12.6 billion (US$9.3 million) and adjusted EBITDA of KRW 18.5 billion (US$13.7 million).
Interpark Triple, acquired by Yanolja, achieved its first profitable quarter. Revenues were up 46% year-on-year to KRW 79.1 billion (US$58.5 million), operating income was KRW 0.2 billion (US$0.15 million), and adjusted EBITDA was KRW 7.0 billion (US$5.2 million).
The Cloud Division posted an impressive 86% increase in revenue to KRW 54.8 billion (US$40.5 million) and recorded its highest-ever quarterly operating income of KRW 10.5 billion (US$7.8 million) and adjusted EBITDA of KRW 11.3 billion (US$8.4 million).
Yanolja's global business revenue (based on the performance of overseas subsidiaries) grew by a staggering 396% year-on-year to KRW 32.0 billion (US$23.7 million), further cementing the company's position as a global export company.
US$1=KRW 1,353.04
