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Fintech Intelligence Newsletter: February 2021

Guyoung Technology Q4 profit climbs YOY

Guyoung Technology Co. Ltd. said its fourth-quarter normalized net income was 77.93 South Korean won per share, a gain from 14.32 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.43 billion won, an increase from 264.7 million won in the year-earlier period.

The normalized profit margin rose to 4.1% from 0.6% in the year-earlier period.

Total revenue declined 13.6% year over year to 35.34 billion won from 40.89 billion won, and total operating expenses declined 8.8% year over year to 35.56 billion won from 39.00 billion won.

Reported net income grew 18.1% on an annual basis to 1.31 billion won, or 71.14 won per share, from 1.11 billion won, or 60.01 won per share.

For the year, the company's normalized net income totaled 134.38 won per share, a decline of 17.2% from 162.30 won per share in the prior year.

Normalized net income was 2.47 billion won, a decline of 17.7% from 3.00 billion won in the prior year.

Full-year total revenue declined 13.8% year over year to 148.30 billion won from 172.08 billion won, and total operating expenses fell 13.1% year over year to 144.13 billion won from 165.94 billion won.

The company said reported net income declined 36.9% year over year to 2.60 billion won, or 141.57 won per share, in the full year, from 4.13 billion won, or 223.00 won per share.

As of March 9, US$1 was equivalent to 1,156.98 South Korean won.