South Korean travel platform Yanolja has announced an 83% increase in its full-year consolidated revenue for 2022, reaching KRW 604.5 billion ($462.7 million) under Korean International Financial Reporting Standards (K-IFRS).
The significant growth is attributed to the stable performance of the Yanolja platform, the YanoljaCloud segment’s significant expansion, and the Interpark acquisition’s impact.
Adjusted EBITDA, excluding amortization of intangible assets and stock option expense, was KRW 47.3 billion.
Yanolja Platform’s revenues grew 36% year-on-year to KRW 364.4 billion, supported by the steady expansion of the domestic accommodation business.
The platform’s adjusted EBITDA was KRW 68.6 billion, reinforcing its position as South Korea’s leading travel platform.
The company’s cloud solutions arm, Yanolja Cloud, recorded a remarkable 225% year-on-year revenue growth to KRW 109.5 billion.
Initial investment costs of newly consolidated subsidiaries resulted in an adjusted EBITDA of KRW -19.9 billion.
However, the operating margin improved by 11.1 percentage points year-on-year, with further profitability gains expected from overseas expansion.
Interpark’s revenue for the entire year of 2022 reached KRW 137.1 billion, despite the lingering impact of COVID-19 on the tour segment in the first half of the year.
Adjusted EBITDA was KRW -3.5 billion, indicating that international travel has not fully recovered from the pandemic.
A Yanolja official said: “The company has achieved both quantitative and qualitative growth through portfolio diversification, including overseas travel, domestic leisure, and stable growth in domestic lodging.
Please also read.
Yanolja Launches S. Korea’s First Private Travel Research Center.
Yanolja’s GMV Surges to Over KRW 4 TR Despite Pandemic.
Yanolja Spins off Interpark Commerce Division.
Yanolja reveals its third-quarter 2022 business results.
Yanolja Cloud establishes JV with BlueBasket, Gusto X.
Yanolja Cloud Launches its New Subsidiary “Yanolja F&B Solution”.
