Revenue reached 54.6 billion won, a growth of 30.7% compared to the previous year
Cloud and web product sales accounted for nearly 20%
Efficiency from the portfolio revision of Hancom LifeCare, ‘[Edaily reporter Im Yukyung] Hancom (030520) achieved a remarkable performance in the first quarter by more than doubling its operating profit compared to the same period last year, driven by the growth of its cloud-based office business and improved business portfolio of its affiliated companies.’,
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, ‘Hancom announced on the 13th that it recorded consolidated sales of 54.6 billion won and operating profit of 6.36 billion won for the first quarter of the 2024 business year, showing a growth of 30.7% and 161.9%, respectively, compared to the same period last year. The consolidated operating profit margin was 11.7%, a 5.8% increase from the previous year. On a non-consolidated basis, sales were 33.8 billion won, and operating profit was 12.14 billion won, representing an increase of 17.8% and 31.3%, respectively, from the previous year.’,
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, ‘In the first quarter, Hancom achieved strong performance driven by the growth of its cloud and web-based product line, which increased its sales contribution from around 8% in the same period last year to 18.9% this year. Based on this success, Hancom plans to further accelerate its expansion into cloud and web-based products such as ‘Hancom Docs’ and ‘WebGiangi’ under the stable growth trend of the existing on-premise ‘Hancom Office.”,
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, ‘In the second quarter and the latter half of the year, Hancom will continue to expand its cloud business as well as domestic and global AI businesses. Scheduled for release are ‘Hancom Pidia,’ an AI-based question-and-answer solution, and ‘Hancom Assistant’ by the end of this year.’,
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, ‘In particular, in May, Hancom will enter the global market with ‘Hancom Data Loader,’ which extracts AI data from PDF documents. Hancom Data Loader provides document AI training data for the globally acclaimed ‘RAG (Retrieval Augmented Generation)’ solution, minimizing the drawbacks of Large Language Models (LLM) such as hallucinations. Following its global release this month, Hancom will actively promote its business by linking with the network and global clients of ‘FacePhi,’ a Spanish AI security solution company in which Hancom recently invested.’,
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, ‘The business portfolio restructuring and revenue structure improvement of the affiliated companies also contributed to the improvement in operating profit margin. Hancom LifeCare, an affiliated company, revamped its business portfolio from personal fire safety equipment to the defense sector, enhancing profitability by refining cost structures. Its sales increased by 13.6 billion won, a growth of 58.2% compared to the previous year, and the operating loss was reduced by 75.5% to 0.84 billion won in the same period. Despite the seasonal concentration of sales in the latter half of the year due to industry characteristics, significant improvement has been observed from this first-quarter performance, leading to expectations of overall performance and revenue growth for this year.’,
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