NewsPress Release
July 26, 2004
Daum announces 1H 2004 financial results
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- Company Reports Record First Half Revenues of $78.0 Million, Up 47.2% Year Over Year
- Record First Half Operating Income of $19.8 Million, Up 29.4% Year Over Year
- Record First Half Online Advertising Revenues of $40.9 Million, Up 46.9% Year Over Year
- Record First Half Online Shopping (GMS) of $161.5 Million, Up 58.2% Year Over Year
- Second Half 2004 to be Turning Point of Future Growth and Globalization
Seoul, Korea, July 26, 2004 - Daum Communications Corp. (KOSDAQ: 035720; www.daum.net), Korea“s largest Internet portal, reported financial results for its half-year ended June 30, 2004.
Daum reported record first half 2004 revenues of $78.0 million (FX=KRW1,166/$), up 47.2% year over year; record operating income of $19.8 million, up 29.4% year over year; EBITDA of $28.2 million, up 25.9% year over year.
Among its portal revenues, Daum reported first half 2004 online advertising revenues of $40.9 million, up 46.9% year over year; first half 2004 transactional services revenues of $16.4 million, up 23.6% year over year. Online shopping revenues in first half 2004 were $20.8 million, up 74.2% year over year. In addition, gross merchandise sales in first half 2004 were $161.5 million, up 58.2% year over year.
Despite the recent economic recession and the slowdown of online advertising market, rapid growth in online advertising (46.9%) over the year shows Daum“s increased influence as a media company.
Online advertising revenues were 52.4% of total revenues; transactional services revenues were 20.9% of total revenues; online shopping revenues were 26.7% of total revenues.
Daum also reported record Q2 2004 revenues of $40.2 million, up 39.8% year over year and up 6.5% quarter over quarter; record operating income of $10.3 million, up 27.4% year over year and up 7.8% quarter over quarter.
Daum reported that these record-breaking Q2 2004 results were due to increased online advertising revenues with Daum platform“s expanded influence; continued revenue growth through improved brand recognition of online shopping (d&shop); increased search revenue and local listings revenue with improved quality of Daum Search“s services.
"Second half of 2004 will be a very important period for Daum“s future growth and globalization." said Jae-woong Lee, President and CEO of Daum. With the recent entrance into the Japanese market, Daum will begin its globalization efforts to maximize Shareholder value.
Daum also reported that the online banner advertising price increase will take into effect in the third quarter 2004 and Daum Search will lead the market with personalized services and local listings services. Furthermore, with the establishment of “TAON Corporation,“ a joint venture with PoweredCom, in early September, Daum will enter the Japanese Internet portal market and begin its initiatives in globalization.
- Record First Half Operating Income of $19.8 Million, Up 29.4% Year Over Year
- Record First Half Online Advertising Revenues of $40.9 Million, Up 46.9% Year Over Year
- Record First Half Online Shopping (GMS) of $161.5 Million, Up 58.2% Year Over Year
- Second Half 2004 to be Turning Point of Future Growth and Globalization
Seoul, Korea, July 26, 2004 - Daum Communications Corp. (KOSDAQ: 035720; www.daum.net), Korea“s largest Internet portal, reported financial results for its half-year ended June 30, 2004.
Daum reported record first half 2004 revenues of $78.0 million (FX=KRW1,166/$), up 47.2% year over year; record operating income of $19.8 million, up 29.4% year over year; EBITDA of $28.2 million, up 25.9% year over year.
Among its portal revenues, Daum reported first half 2004 online advertising revenues of $40.9 million, up 46.9% year over year; first half 2004 transactional services revenues of $16.4 million, up 23.6% year over year. Online shopping revenues in first half 2004 were $20.8 million, up 74.2% year over year. In addition, gross merchandise sales in first half 2004 were $161.5 million, up 58.2% year over year.
Despite the recent economic recession and the slowdown of online advertising market, rapid growth in online advertising (46.9%) over the year shows Daum“s increased influence as a media company.
Online advertising revenues were 52.4% of total revenues; transactional services revenues were 20.9% of total revenues; online shopping revenues were 26.7% of total revenues.
Daum also reported record Q2 2004 revenues of $40.2 million, up 39.8% year over year and up 6.5% quarter over quarter; record operating income of $10.3 million, up 27.4% year over year and up 7.8% quarter over quarter.
Daum reported that these record-breaking Q2 2004 results were due to increased online advertising revenues with Daum platform“s expanded influence; continued revenue growth through improved brand recognition of online shopping (d&shop); increased search revenue and local listings revenue with improved quality of Daum Search“s services.
"Second half of 2004 will be a very important period for Daum“s future growth and globalization." said Jae-woong Lee, President and CEO of Daum. With the recent entrance into the Japanese market, Daum will begin its globalization efforts to maximize Shareholder value.
Daum also reported that the online banner advertising price increase will take into effect in the third quarter 2004 and Daum Search will lead the market with personalized services and local listings services. Furthermore, with the establishment of “TAON Corporation,“ a joint venture with PoweredCom, in early September, Daum will enter the Japanese Internet portal market and begin its initiatives in globalization.
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