Double-digit growth in sales and operating profit on a consolidated basis in the first quarter… Expectation for strong performance this year with achievements in new business, “The software company Doosan BizOn, which has emerged as the most preferred AI software provider recently, achieved strong performance in the first quarter of this year as its main business growth, cost control, and new business initiatives aligned,”
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, “According to the first quarter performance disclosure, Doosan BizOn announced that it achieved sales of 94.4 billion KRW and operating profit of 18.1 billion KRW on a consolidated basis on the 9th. Compared to the same period last year, the revenue increased by 16.0% and operating profit by 21.3%,”
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, “The net profit recorded a remarkable 340.1% increase from the previous year, reaching 36.6 billion KRW. This result reflects the effects of the additional investment through a capital increase by Sinhan Bank and SGI Seoul Guarantee, in the subsidiary Tech Fin Ratings,”
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, “The company stated, ‘Even in this quarter, it has maintained a robust double-digit profitability, proving that the growth trend is still effective.’ It added, ‘Against the backdrop of continued investments in future growth areas such as AI, the solid performance structure, combining expanded orders and cost-saving efforts, was reflected in the first quarter results.'”
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Doosan BizOn Doosan IT Tower Exterior (Photo=ZDNet Korea DB),
, “Expectations for future performance are even higher. Doosan BizOn is scheduled to complete the launch of new AI services that integrate AI into core solutions such as ERP 10, Amaranth 10, and Wehago in the first half of this year. It plans to begin realizing the revenue contribution effects from the second half of the year.”
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, “The AI development assistant ‘GEN AI DEWS,’ which significantly reduces development costs, has been fully implemented across the entire development organization. The enterprise AI assistant ‘ONE AI’ has also completed preparations for application not only to general companies but also to specialized fields such as tax agency industry, law firms, and consulting companies, signaling market expansion. The AI lifecycle support platform ‘Insight AX’ is expected to facilitate the spread of tailored AI models across all industries including healthcare, manufacturing, and public sectors.”
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, “Expectations for global market expansion are rising. Starting with the establishment of a subsidiary in Japan, the expansion into English-speaking countries in Southeast Asia is actively being pursued. Earlier collaboration with Amazon Web Services (AWS) has borne fruit, securing opportunities for global expansion through the AWS Marketplace.”
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, “Efforts in pursuing new businesses, seen as long-term growth drivers, are also rapidly progressing. Doosan BizOn’s participation as an anchor company in the Chuncheon Enterprise Innovation Park has been finally selected, securing a foundation for the growth of the digital healthcare and precision medical platform sectors. The specialized credit rating (CB) platform business in the corporate financial market is also progressing smoothly, and the formalization of the challenge for the fourth internet-only bank ‘Doosan Bank’ signals efforts in venturing into the financial sector.”
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, “A Doosan BizOn official stated, ‘The market consensus was slightly below in terms of consolidated performance due to the influence of subsidiary results,’ and added, ‘However, starting from the second quarter, with the strong sales force and the positive effects of launching new AI services, it is possible to achieve strong performance that meets market expectations.’”
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, “The market evaluates these movements of Doosan BizOn positively and expects that it will continue its strong performance this year as it did last year. Kiwoom Securities estimated that the sales of Doosan BizOn this year would increase by 15.3% from the previous year to 407.7 billion KRW, and the operating profit would increase by 26.5% to 87.4 billion KRW.”
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, “Researcher Oh Hyun-jin from Kiwoom Securities said, ‘The key products ‘Wehago’ and ‘Amaranth 10′ are expected to maintain high growth this year,’ adding, ‘Especially, the performance growth of ‘Amaranth 10’ is anticipated this year as the business has been strengthened since last year, accelerating the demand conversion of both new and existing customers.’”
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, “He continued, ‘On the cost front, the continued trend of wage increase slowdown due to operational efficiency and the cost-saving basis for outsourcing services are expected to contribute to an increase in operating profit margin,’ and concluded, ‘With upcoming events such as the announcement of the licensing results for Tech Fin Ratings’ credit information business within the year, the schedule and details of the internet-only bank license, and other events related to new business initiatives, the expectation is that the upward trend in stock prices will continue.'”
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