Yanolja Reports Record 186% Growth to KRW 27T in 2024

Philip Lee -

Seoul, South Korea—Yanolja reported record annual results on Tuesday. 

Global transaction volume reached KRW 27 trillion (US$18.35 billion) in 2024, representing a 186% increase from the previous year.

According to its financial statements, the company posted consolidated revenue of KRW 924.5 billion (US$628.3 million) under Korean International Financial Reporting Standards (K-IFRS), a 22% year-on-year increase.

Operating profit surged 1,782% to KRW 49.2 billion (US$33.44 million), while adjusted EBITDA rose 68% to KRW 114.7 billion (US$77.95 million).

The adjusted EBITDA margin improved by three percentage points to 12%.

The enterprise solutions division recorded revenue of KRW 292.6 billion (US$198.86 million), up 62% from 2023. 

The division's adjusted EBITDA climbed 295% to KRW 67.7 billion (US$46.01 million), with operating profit increasing 454% to KRW 57.6 billion (US$39.15 million). 

Its adjusted EBITDA margin reached 23%, representing a 14 percentage point improvement.

Revenue contribution from AI data solutions grew from 14% in the first quarter to 25% by the fourth quarter of 2024. 

The company attributed this growth to its expanded network, which covers more than 21,000 sales channels and 1.3 million travel businesses globally.

Despite challenges including a strong dollar and what the company referred to as the "Timepe incident," Yanolja's consumer platform division maintained stable performance with revenue of KRW 671.2 billion (US$456.17 million), adjusted EBITDA of KRW 88.4 billion (US$60.08 million), and operating profit of KRW 62 billion (US$42.14 million). 

The division recorded an adjusted EBITDA margin exceeding 13% despite one-time bad debt expenses related to the Timepe incident.

The company identifies global transaction volume as its key performance indicator, stating it represents the scale of transactions and data distribution across its platforms. 

According to Yanolja, this metric indicates the reliability of its data platform that analyzes travel trends and provides AI-based services.

Yanolja reported expanding collaborations with Google Cloud, Amazon Web Services, and OpenAI to enhance its AI-based data solution offerings and plans to strengthen operational automation services in global markets.

(US$1 = KRW1,471.38)