Hanatour Service (039130) Investor presentation summary

Company overview and market position

• Commands the largest market share in Korea's outbound and package tourism, with 20% and 36% respectively from 2014–2019.

• Achieved 65x customer growth over 20 years, outpacing the market's 10x growth, with a 21% CAGR from 1998–2019.

• Recognized for brand loyalty, ranking 1st in major customer satisfaction and brand power indices for over a decade.

• Operates a global network with 20 subsidiaries (9 domestic, 11 overseas) and extensive offline and online sales channels.

• Board governance includes a mix of executive, non-executive, and outside directors, with diversified ownership.

Financial performance highlights

• 2023 revenue surged 258% YoY to KRW 411.6bn, the highest since COVID-19, driven by tourism recovery and premium package sales.

• Operating profit reached KRW 34.3bn, the highest since 2017, with net profit at a record KRW 60.7bn.

• Q2 2024 revenue was KRW 131.7bn, up 60% YoY but down 28% QoQ due to seasonality; operating profit impacted by one-off costs.

• Operating expenses in Q2 2024 decreased 21% QoQ, with labor and purchase costs down, but marketing spend up 19%.

• Consolidated assets stood at KRW 597.7bn and equity at KRW 117.5bn as of Q2 2024.

Package tour and customer trends

• Q2 2024 package tourists increased 75% YoY; August saw a 37% YoY rise.

• GMV for package tours in Q2 2024 rose 62% YoY, reaching 95% of 2019 levels.

• Share of mid-to-high-priced packages (Hanapack 2.0) reached 28% of customers and 49% of GMV in Q2 2024.

• Customer satisfaction for Hanapack 2.0 consistently above 80 since launch, reflecting improved experiences.

• Regional demand shifting, with Europe and China gaining share in both customer numbers and GMV.