Valof, Q2 Operating Profit of 1.7 Billion Won, Up 320%

Valof (331520) recorded consolidated sales of 12.4 billion won and an operating profit of 1.7 billion won in the second quarter of 2023. Compared to the same period last year, sales increased by 40%, and operating profit rose by 320%. The company cited the operational capabilities of its global republishing business and the growth of its own global game platform, VFUN, as the background for the improved performance. VFUN operates in North America, Germany, Turkey, and Taiwan, and its cumulative subscriber count exceeded 10 million last year. Valof introduced the open community platform Orvvit last year, combining game services and community features to expand its global user base. Additionally, it is expanding its secondary creation business utilizing its IPs, such as Last Origin, through figures, soundtracks, merchandise, webtoons, and animations, with over 16 contracts for secondary creation projects using the Last Origin IP signed in Japan. Last month, Valof burned approximately 370,000 of its own shares and plans to promote new releases and its business in China in the second half of the year, while also considering new IP acquisitions and mergers and acquisitions.

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