Operating Profit of 13 Billion Won, Net Profit of 10.9 Billion Won
“Profitability-Focused Management Strategy Proves Successful”
KT Skylife headquarters [Provided by KT Skylife]
KT Skylife has successfully turned profitable as its profitability-focused management strategy begins to yield significant results.
On the 8th, KT Skylife announced through a public disclosure that its consolidated operating profit for the second quarter of this year recorded 13 billion won, turning a profit from a loss in the same period last year. The net profit also turned positive, reaching 10.9 billion won, compared to the net loss in the same period last year. On a separate basis, operating profit stood at 14.5 billion won and net profit at 10.6 billion won, representing increases of 13.7% and 14.4%, respectively, compared to the same period last year. KT Skylife explained that the continuous growth of the internet and mobile business, along with efforts to reduce key costs such as advertising and commerce expenses, contributed to the rebound in Q2 performance.
KT Skylife is also implementing strategies to strengthen the core business competitiveness. Its subsidiary, ENA, is focusing on diversifying content by establishing seasonal original content like “Recruit” and “World Travel of Earth Marble” and expanding the worldview of “I am SOLO.”
There is increasing anticipation for the newly launched IPTV product “ipit TV,” which was released last month. ipit TV is a high-quality, high-value product that overcomes the limitations of traditional satellite broadcasting. KT Skylife plans to use ipit TV to defend against the decline in broadcast subscribers and expand profitability based on high ARPU (Average Revenue Per User) in the long term.
The company’s new business division also showed promising results. By signing memorandums of understanding (MOUs) with sports organizations like the Korea Sports Council and various local governments, the company is expanding the market for its AI sports broadcasting platform ‘POCHAK.’ In the third quarter, KT Skylife plans to strengthen its platform competitiveness further by launching combined services with Skylife Internet.
Choi Young-beom, CEO of KT Skylife, stated, “The profitability-focused solid management strategy and pursuit of new businesses to secure future growth drivers are leading to significant improvements in performance,” adding, “In the second half, we will continue to grow by innovating customer-centric services and strengthening content competitiveness.” Report by Park Se-jeong.