SK Square Reports Highest Q3 Net Profit Since Inception... 11st and T map Continue Operating Losses

Investment Specialist SK Square Q3 Earnings
SK Hynix Performance Improvement Effect
"1.1 Trillion Assets... Investment in Future Growth Areas"

Investment specialist company SK Square recorded a record high quarterly net profit of 1.1292 trillion KRW in the third quarter of this year.

SK Square announced on the 14th, "With the performance of SK Hynix and ICT affiliates getting on track, we recorded the highest quarterly net profit since our launch 11 years ago in 2021."

This year's quarterly net profits have shown an upward trend with 333.3 billion KRW in Q1, 728.8 billion KRW in Q2, and 1.1292 trillion KRW in Q3.

SK Square's consolidated sales for Q3 this year were 457.5 billion KRW, down 13% year-on-year, while operating profit turned positive at 1.162 trillion KRW. On a cumulative basis from Q1 to Q3 this year, sales were 1.4243 trillion KRW, operating profit 2.2606 trillion KRW, and net profit 2.1913 trillion KRW.

SK Square itself has secured approximately 1.1 trillion KRW in cash equivalents and is prepared to make trillion-KRW-level investments in future growth areas such as semiconductors and AI.

Major subsidiaries continued to incur losses this year. The commerce business 11st recorded a cumulative net loss of 53.28 billion KRW up to Q3 this year, One Store 12.445 billion KRW, and T map Mobility 49.428 billion KRW.

However, compared to the same period last year, SK Square stated that 11st improved by 31.9 billion KRW and T map Mobility by 13.4 billion KRW respectively.

To enhance shareholder value throughout this year, SK Square plans to resolve a temporary cancellation of 100 billion KRW worth of treasury shares purchased in April through the board of directors soon.

Additionally, within this month, SK Square will announce a 'Corporate Value Enhancement Plan' that aligns with the purpose of the Korean corporate value-up program.

Han Myung-jin, CEO of SK Square, stated, "We will focus on value-up and securitization of the existing portfolio while thoroughly preparing for new investments in future growth sectors."