Investor Presentaiton
Q2 2021 Financial Outlook
Expect Y/Y Decrease Given Tough Comparison with Q2 2020
Revenues
•
•
Constant currency¹ down 23% to 16%
•
Expect Y/Y decrease due to a challenging
comparison given the strong performance in
Q2 2020 when our topline grew 27% Y/Y on
a constant currency basis
Operating Income
Expect a Y/Y decrease primarily due to the
revenue decrease
Expect increased HR costs and outsourcing costs
Net Income²
Expect a Y/Y decrease primarily due to the
operating income decline
(Unit: millions, except per share data)
(Unit: \billions).
Q2 Accumulated (High-end)
Revenues
Operating Income Net Income²
Q2 2020
Q2 2021 Outlook
Revenues
¥64,466
¥54,451
¥59,596
(16%)
PC³
44,923
37,142
40,624
(17%)
~
YoY %
(8%)
(10%)
Mobile
19,543
17,309
18,972
(11%)
~
(3%)
Operating income
147.2
26,711
12,039
147.9
P
16,384
(55%)
-
(39%)
Net income²
19,763
8,965
12,254
(55%)
P
(38%)
Earnings per share
22.37
10.09
13.79
64.5
59.6
FX Rate Assumptions
100 KRW/JPY
8.83
9.77
9.77
11%
CNY/JPY
15.18
16.72
16.72
10%
USD/JPY
107.62
108.70
108.70
1%
Forex sensitivity: Every one Japanese yen move against the U.S. dollar would have the following impact on
our financials for Q2 2021
Revenues
Operating Income
0.51 billion yen
0.15 billion yen
68.3
69.7
59.7
58.3
19.8
26.7
16.4
12.3
82.8
88.3
82
Q2
49.9
41.5
43.3
46.0
Q1
2020
2021
2020
2021
2020
2021
1 Constant currency is a non-GAAP measure used to show performance unaffected by
fluctuations in foreign currency exchange rates. Constant-currency basis amounts are
calculated using the average foreign currency exchange rates for the comparable period in
the prior year and applied to the current period. As an example, we calculate royalty
revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and
KRW/JPY exchange rates from last year's same fiscal quarter.
2 Net income refers to net income / loss attributable to owners of the parent.
3 PC revenues include other revenues besides PC online games and mobile games
4 In most situations, the exchange rates of both the South Korean Won and the Chinese
Yuan are linked to the U.S. Dollar. For simplicity, forex sensitivity is calculated based on
the assumption that Korean Won and Chinese Yuan move similarly against Japanese
Yen when there is an exchange rate movement in U.S. Dollar and Japanese Yen.
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