SM, Q4 Consolidated Operating Profit 33.9 Billion → 275.6% YoY increase
Feb 10, 2025
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SM announced on the 10th that it recorded management performance of ▲ 273.8 billion won in sales and ▲ 33.9 billion won in operating profit in the fourth quarter of 2024. Compared to the same period last year, sales and operating profit increased by 9%, operating profit increased by 275.6%, and net loss for the current period was 24.1 billion, down less than half from the same period last year.
On a separate basis, it recorded sales of 181.8 billion won and operating profit of 35.8 billion won in the fourth quarter, up 11% and 83.2% year-on-year, respectively. Its net profit turned into a surplus of 8.3 billion won.
The main factors driving SM's consolidated sales growth in the fourth quarter were higher MD/licensing sales and higher concert sales. In addition, major subsidiaries also contributed to sales growth by increasing artists' activities in Japan and expanding drama production.
Consolidated operating profit rose sharply due to increased sales of headquarters and affiliates, changes in sales mix, and recognition of the distribution of incentives.
Marking its 30th anniversary this year, SM is expected to expand its contact point by communicating with fans around the world with various legendary contents such as the SM Town Live Seoul Concert, which was successfully completed in January, the SM Town Album, which will be released on February 14th, the founding anniversary, the K-pop Orchestra Concert to be held on February 14th and 15th, and the SM Town Live Global Tour to be held in the second quarter.
In particular, on February 24, SM's new girl group Hearts to Hearts will debut with its first single 'The Chase', which will be introduced in about five years since Espa, and in March, Red Velvet Seulgi and NCT 10's solo mini album and NICE's single will be released.
In the second quarter, Aespa's new mini-album, Rise's full-length album, NCT Doyoung and NCT Mark will release solo albums, respectively, and artists are expected to be active, including EXO Kai's solo mini-album, Red Velvet-Irin & Seulgi, WayV, and NCT WISH's mini-album.
In addition, Espa continues its world tour in North and South America and Europe, setting a record for all seats sold out in Seattle and LA, and NCT 127's world tour, which recently sold out all seats at Gocheok Dome, is also cruising, confirming its Tokyo Dome performance. In addition, various performances are being held around the world, including a national tour concert of TVXQ Japan and an Asian tour of Super Junior YESUNG and SHINee Minho, and an Asian tour of Taeyeon and NCT WISH will be held.
In addition, SM unveiled SMTOWN LIVE, which was held at Gocheok Dome in January, with a tribute performance stage for the 30th anniversary of its foundation, and it is expected to maximize expectations for the new IP by speeding up preparations for its debut by releasing pre-promotional SNS for trainees and participating in the SM Town Live global tour.
Co-CEO Jang Chul-hyuk announced the new slogan 'THE CULTURE, THE FUTURE' on the 30th anniversary of its foundation. SM will continue to be a company that is faithful to the basics and consistently strives based on its cultural heritage accumulated so far. "We will pursue a solid lineup of artists and rich content, as well as constant innovation and artist IP expansion."
정빛 기자 rightlight@sportschosun.com
rightlight@sportschosun.com
