LG HelloVision (037560.KQ) reported annual revenue of 1.27 trillion won and operating profit of 18.7 billion won for 2024, the company said in a regulatory filing Wednesday. For the fourth quarter, the cable TV operator posted revenue of 299.5 billion won and an operating loss of 7.9 billion won.
Annual revenue grew 5.8% year-on-year, driven by expansion in rental and education businesses. Operating profit surged 39% from the previous year, reflecting overall improvement in business performance. The gains came despite one-time costs from a voluntary retirement program in the fourth quarter, as company-wide cost efficiency measures and reduced depreciation expenses eased fixed-cost burdens.
Fourth-quarter revenue declined 7.1% year-on-year due to decreased sales of devices to education offices. The quarterly operating loss resulted from one-time personnel costs related to the voluntary retirement program. By segment, fourth-quarter revenue broke down as follows: broadcasting at 123.2 billion won, telecommunications at 33.9 billion won, and MVNO (mobile virtual network operator) at 38.1 billion won. Regional businesses including media and B2B generated 58.6 billion won, while rental recorded 45.3 billion won.
LG HelloVision focused on building a solid subscriber base amid challenging market conditions. The company strengthened competitiveness and profitability of broadcasting products in response to changing media trends, while the MVNO segment maintained subscriber growth through competitive pricing plans. The rental business continued its growth momentum through expanded partnerships and seasonal appliance demand. In media, the company's official YouTube channel "Hello Life" surpassed 1 million subscribers, becoming the first paid broadcasting platform to earn YouTube's Gold Play Button.
"2024 was a year focused on management efficiency and building a foundation for sustainable growth," said Kim Young-jun, executive vice president at LG HelloVision. "This year, we will concentrate on strengthening operational discipline and restoring competitiveness in our core businesses."