GRAVITY ANNOUNCES FILING OF ANNUAL REPORT ON FORM 20-F FOR FISCAL YEAR 2020

Rhea-AI Summary

GRAVITY Co., Ltd. (NasdaqGM: GRVY) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020. The report discloses a consolidated revenue of KRW 405,953 million, with an operating profit of KRW 88,368 million and a net profit of KRW 62,703 million. This represents a year-over-year revenue growth of 12.5%, an operating profit increase of 81.6%, and a 57.2% rise in net profit. Shareholders can request a hard copy of the annual report with audited financial statements at no cost.

Positive

• Consolidated revenue increased by 12.5% year-over-year to KRW 405,953 million.
• Operating profit saw a substantial rise of 81.6%, reaching KRW 88,368 million.
• Net profit attributable to the parent company rose by 57.2%, totaling KRW 62,703 million.

Negative

• None.

Seoul, April 29, 2021 (GLOBE NEWSWIRE) -- GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or the “Company”) today announced that the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission on April 29, 2021. The annual report can be accessed on the Company’s investor relations Web site at http://www.gravity.co.kr/en/ir/notice/list.asp

The shareholders and ADS holders of Gravity may receive a hard copy of the annual report, which contains its audited consolidated financial statements, free of charge upon request. Requests should be directed to IR Unit, Gravity Co., Ltd., 15F, 396 World Cup buk-ro, Mapo-gu, Seoul 03925, South Korea.

In the annual report on Form 20-F, the consolidated revenue is KRW 405,953 million, the operating profit is KRW 88,368 million, and the net profit attributable to parent company is KRW 62,703 million for the fiscal year ended December 31, 2020.

(In millions of KRW)

	2020	2019	YoY
Revenue	405,953	360,967	12.5%
Operating profit	88,368	48,663	81.6%
Net profit attributable to parent company	62,703	39,876	57.2%

About GRAVITY Co., Ltd. ---------------------------------------------------
Based in Korea, Gravity is a developer and publisher of online and mobile games. Gravity's principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 93 markets and countries. For more information about Gravity, please visit http://www.gravity.co.kr.

Contact:
Mr. Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: kheung@gravity.co.kr

Ms. Jin Lee
Ms. Hyeji An
IR Unit
Gravity Co., Ltd.
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7800

FAQ

What are the key financial figures reported by GRAVITY for 2020?

GRAVITY reported consolidated revenue of KRW 405,953 million, operating profit of KRW 88,368 million, and net profit of KRW 62,703 million for 2020.

How much did GRAVITY's revenue grow in 2020 compared to 2019?

GRAVITY's revenue grew by 12.5% in 2020 compared to 2019.

When did GRAVITY file its annual report on Form 20-F?

GRAVITY filed its annual report on Form 20-F on April 29, 2021.

Where can I access GRAVITY's annual report?

GRAVITY's annual report can be accessed on their investor relations website at http://www.gravity.co.kr/en/ir/notice/list.asp.