[Edaily Reporter KYUNG GYEYOUNG ] Despite an increase in revenue in the third quarter, INNOCEAN WORLDWIDE INC.’s operating profit declined due to costs such as staff recruitment at its North American subsidiary.

INNOCEAN WORLDWIDE INC.(214320)The company announced on the 4th that its consolidated operating profit for the third quarter was 49.2 billion won, a 4.2% decrease compared to the same period last year. During the same period, gross profit rose 3.0% to 255.9 billion won, while net income fell 2.8% to 32.6 billion won, according to preliminary figures.

Looking at operating profit by region, the Americas region saw a significant impact, with operating profit falling 11.9% year-over-year to 29.8 billion won. INNOCEAN WORLDWIDE INC. explained that costs rose as its U.S. subsidiary, CANVAS, expanded its team of digital specialists. The Americas region is a key business area, accounting for 54.5% (139.5 billion won) of gross profit in the third quarter.

In contrast, operating profit in South Korea rose 36.6% year-over-year to 12.2 billion won. This reflects the results of the customer experience (CX) initiatives, which gained momentum starting in September, as well as revenue from generative engine optimization (GEO). In Europe, where digital services and artificial intelligence (AI) production have expanded, operating profit also increased by 7.8% year-over-year to 7.6 billion won.

However, in other regions, including India and the Middle East and North Africa (MENA), gross profit decreased by 10.3% to 19.9 billion won due to factors such as the Middle East conflict, and the region posted an operating loss of 700 million won, marking a shift into the red.

INNOCEAN WORLDWIDE INC. noted that while exchange rate fluctuations in the fourth quarter may affect results, the quarter is expected to benefit from new vehicle launches by group affiliates HyundaiMotor and KIA CORPORATION, as well as new orders from non-affiliates such as KoreanAirLines and Neff. The company also cited “Cinema by Brand,” a brand film platform unveiled at the Busan International Film Festival last month, as a factor driving growth.

In addition, INNOCEAN WORLDWIDE INC. announced today that it has decided to pay a quarterly cash dividend of 225 won per share. The dividend yield is 1.3%, and the total dividend payout amounts to 9 billion won.