On this day, Shin Eunjeong, a researcher at DB Securities, commented, “For the time being, SK Telecom’s share price is expected to move sideways within the anticipated dividend yield range of 6?7%.” She added, “Based on the recent share price, the annualized dividend yield stands at 6.4%, which is relatively high compared to other companies whose share prices have risen significantly. Although this year’s earnings outlook is temporarily weak, the company has consistently maintained its dividend in the past.”
Second-quarter operating profit is projected to be 304.4 billion won, falling short of the market consensus by 29.7%. Second-quarter revenue is expected to reach 4.3464 trillion won, a decrease of 1.7% compared to the same period last year. Wireless revenue is anticipated to decline by 1.8%, and the number of users is estimated to have decreased by about 500,000 as of last month. The company is also expected to face significant cost burdens. Approximately 185 billion won (7,700 won × 24 million users) will be reflected as provisions for USIM replacement costs, and an additional 40 billion won is expected to be incurred for agency compensation expenses.
In the third quarter, a significant decrease in revenue related to compensation is expected to be reflected. Researcher Shin stated, “Next month, wireless revenue is estimated to decline by 360 billion won quarter-on-quarter due to a 50% discount on all customer fees. Additionally, the provision of 50GB of data through the end of the year may further contribute to some down-selling effects.” She continued, “However, it is estimated that about 60,000 users left during the five days following the announcement of the penalty exemption, which is not a level of concern.” On the cost side, more than 30 billion won in penalty refunds and marketing expenses associated with the launch of flagship models are expected.
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