[Edaily Reporter Kim Hyung-il ] M eighty-three Co.,Ltd., a company specializing in visual effects (VFX), has successfully returned to profitability on a consolidated basis in the second quarter, marking the start of a full-fledged turnaround in its performance. This result stems from the simultaneous growth of its subsidiary engaged in the AI infrastructure business and improved profitability in its core VFX business.

On the 13th, M eighty-three Co.,Ltd. announced that it recorded consolidated revenue of 49 billion won and operating profit of 1.6 billion won for the second quarter. Revenue increased by 54% year-over-year, and the company returned to profitability. Consolidated revenue for the first half of the year reached 115.8 billion won, a 172% increase compared to the same period last year.

On a standalone basis, second-quarter revenue was 5 billion won, an 82% increase year-over-year, and operating profit turned to a profit of 500 million won. The improvement in consolidated performance was driven by enhanced profitability in the core VFX business—which provides special effects and computer graphics (CG) for content such as movies and TV dramas—combined with the high growth of People & Technology, Inc., a wholly-owned subsidiary specializing in AI infrastructure.

The VFX and content production division is steadily executing domestic and international projects while applying AI technology across the entire production process to enhance operational efficiency and productivity. Global projects secured from a Japanese content production company are progressing smoothly and being recognized as revenue; based on this, the company plans to expand business opportunities with overseas production companies and in the global content market.

The growth of People & Technology, Inc., which handles the AI infrastructure business, was also notable. Driven by increased demand for graphics processing unit (GPU) servers and high-performance storage resulting from the proliferation of generative AI, People & Technology, Inc. recorded revenue of 96.3 billion won in the first half of this year. This figure is nearly on par with last year’s annual revenue. The company anticipates that demand for AI infrastructure will continue and plans to strengthen its efforts to penetrate new markets, such as the financial sector.

A M eighty-three Co.,Ltd. official stated, “The second quarter marked the beginning of a full-scale turnaround in consolidated earnings, driven by growth in the AI infrastructure business and improvements in productivity and profitability in our core VFX business through the application of AI technology.” The official added, “In the second half of the year, we will strive to achieve results that surpass those of the second quarter by expanding our AI infrastructure business and reflecting revenue from global projects.”