NICE Information Service (030190) Q1 2024 earnings summary

Executive summary

• Achieved consolidated revenue of 122.8B KRW, operating profit of 17.4B KRW, and net income of 17.6B KRW in 1Q 2024, reflecting year-over-year and sequential growth.

• Maintained leading market share in both consumer and corporate credit information services, with stable revenue growth in core businesses.

• Expanded business portfolio into big data, ESG evaluation, and digital advertisement through acquisitions and new service launches.

Financial highlights

• 1Q 2024 revenue increased by 3.0% year-over-year and 0.9% sequentially; operating profit rose 18.4% year-over-year and 8.75% sequentially.

• Net income margin improved to 14.3% in 1Q 2024, up 2.7 percentage points year-over-year.

• Total assets stood at 484.3B KRW and total equity at 360.6B KRW as of 1Q 2024.

Outlook and guidance

• Focus on expanding alternative credit scoring models using non-financial data and enhancing MyData business for both B2B and B2C markets.

• Plans to accelerate international expansion, especially in Vietnam and ASEAN, aiming for private CB licenses.

• Continued diversification into ESG evaluation, digital marketing, and big data analytics.