NC (036570) Investor presentation summary

Industry trends and market outlook

• Global games market projected to reach USD 236 billion by 2025, with mobile platforms comprising 46% of the market.

• MMO games market expected to grow at a 10.7% CAGR, reaching USD 75 billion by 2028.

• South Korea's games market is dominated by mobile, which accounted for 59% of the market in 2022.

• South Korean games exports have grown at 8.8% CAGR over the past four years, with significant opportunities in NA and EU.

Corporate governance and structure

• Board consists of 7 members, emphasizing independence, diversity, and expertise.

• Ownership is diversified among retail, management, domestic and foreign institutions, and strategic partners.

• Global development and publishing network spans Korea, North America, Europe, Japan, Taiwan, China, and Southeast Asia.

Financial performance

• 2024 sales were KRW 1,578.1 billion, down 11% YoY, with an operating loss of KRW 109.2 billion.

• Q4 2024 sales reached KRW 409.4 billion, up 2% QoQ, but with a significant operating loss due to higher expenses.

• Mobile game sales declined 22% YoY in 2024, while PC online game sales fell 2% YoY.

• Q4 Korea sales dropped 13% QoQ, but NA/EU sales rose 25% QoQ, and royalty sales surged 93% QoQ.