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Yanolja's Robust Q1 FY2024 Results Driven by Global Expansion

Source: Yanolja

SEOUL, South Korea — Softbank Vision Fund-backed Yanolja has announced a 30% increase in consolidated revenue to KRW 194.7 billion (US$ 144.2 million) for the first quarter of fiscal year 2024. 

The company's adjusted EBITDA surged 697%, reaching KRW 31 billion (US$23 million). Concurrently, operating profit increased by KRW 24.4 billion (US$18.1 million), reaching KRW 14.9 billion (US$11 million).

The robust performance was attributed to the consistent revenue growth observed in Yanolja's platform business, Interpark Triple's second consecutive profitable quarter, and the high profitability and revenue growth observed in the cloud division. 

The company's rapid global expansion also significantly contributed to its growth.

The platform division of Yanolja generated revenue of KRW 86.8 billion (US$ 64.3 million), with an adjusted EBITDA of KRW 20.3 billion (US$ 15 million) and an operating profit of KRW 15.5 billion (US$ 11.5 million). 

The company's enhanced overseas travel services and domestic travel demand, driven by the largest inventory-based customer benefits, contributed to the division's growth.

The Interpark Triple division continued its growth trajectory, achieving profitability for the second consecutive quarter. 

The division's revenue increased by 47% year-on-year to KRW 70.1 billion (US$ 51.9 million), with an adjusted EBITDA of KRW 5.5 billion (US$ 4.1 million) and an operating profit of KRW 1.5 billion (US$ 1.1 million).

The cloud division recorded revenue of KRW 44.4 billion (US$ 32.9 million), representing a 66% increase compared to the previous year. 

Adjusted EBITDA improved by KRW 10.2 billion (US$ 7.6 million) to KRW 7.3 billion (US$ 5.4 million). 

In comparison, operating profit increased by nearly KRW 9 billion (US$6.7 million) to KRW 5 billion (US$3.7 million), marking the third consecutive quarter of profitability.