(Photo = Yonhap news)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] According to a business report submitted by Kakao on the 20th, consolidated sales and operating profit stood at 7.557 trillion won and 460.8 billion won, respectively, last year.

Compared to Kakao's sales (KRW 8.1058 trillion) and operating profit (KRW 501.9 billion) tentatively announced last month, the figure fell 6.7% and 8.9%, respectively.

Net loss during the term also increased. Kakao tentatively announced that it recorded a net loss of 1.497 trillion won last year, but this time it increased by a large margin to 1.816 trillion won. The net loss of controlling shares rose sharply from KRW 676 billion to KRW 1.1 trillion.

The main reason for the drop in sales by more than KRW 500 billion is its subsidiary Kakao Mobility. According to Kakao Mobility's first shareholders' notice, Kakao Mobility's sales last year were 601.4 billion won. Initially, the industry predicted that Kakao Mobility's cumulative sales in the third quarter reached 733.6 billion won, so its annual sales would exceed 1 trillion won. The change in accounting standards is estimated to have reduced at least 400 billion won.

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