[Concall] SK Inno "SK On EBITDA Positive This Year, Operating Profit Turnaround Next Year"

[Asia Economy Reporter Choi Seoyoon] SK Innovation stated in its Q4 earnings conference call on the 7th that its outlook for SK On's performance is "positive EBITDA in 2023 and a turnaround to operating profit in 2024."

Kim Kyunghoon, CFO of SK On, said, "There are two main reasons why we expect a turnaround to profit in 2024 despite significantly increasing new factories."

He explained, "The 88GWh existing factories are in a stabilization phase and will generate steady operational flow," adding, "For the Hungary 2nd plant and China Yancheng 2nd plant, based on various experiences from the past 1st plants, we expect ramp-up costs to increase." He continued, "By minimizing costs and securing cash flow from existing factories, we aim for positive operating profit next year."