“SK Square surpasses 1 trillion won in operating profit in the first half of the year… preparing for the future centered around semiconductors”

Announcement of 2024 First-Half Performance
Increasing Cash and Strengthening Financial Soundness
Some Improvement in Portfolio Companies, ‘SK Square announced on the 13th that its first-half consolidated performance this year recorded sales of 966.8 billion won, operating profit of 1.986 trillion won, showing a significant increase in profit compared to the previous year. Riding on the improved performance, the company revealed its intention to actively enter promising industries for the future, including securing funds for semiconductor investments.’,
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Han Myung-jin, CEO of SK Square [Image Source=Yonhap News],
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, ‘SK Square announced that it recorded sales of 966.8 billion won, operating profit of 1.986 trillion won, and net profit of 1.621 trillion won in the first half of this year.’,
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, ‘Compared to last year’s first-half sales of 1.198 trillion won, operating loss of 1.735 trillion won, and net loss of 1.227 trillion won, the company turned a profit.’,
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, ‘SK Square explained that a total of 824.7 billion won in equity method gains was reflected in the consolidated performance in the second quarter as the performance of portfolio companies such as SK Hynix greatly improved.’,
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, ‘As of the end of June, based on consolidated figures, the company recorded assets of 19.65 trillion won and liabilities of 2.882 trillion won, showing an increase in assets by 1.365 trillion won and a decrease in liabilities by 653 billion won in just half a year compared to the end of last year, thereby enhancing financial stability.’,
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, ‘SK Square continued its debt-free management and secured an inflow of approximately 1.1 trillion won in cash. With this, the company obtained the financial leverage to immediately execute investments in the semiconductor sector if opportunities arise.’,
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, ‘The performance of portfolio companies such as T Map Mobility, 11st, and SK Planet also showed some improvement.’,
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, ‘T Map expanded its high-profit mobility data business, achieving sales of 160.3 billion won and a net loss of 37.2 billion won in the first half of this year, with an increase of 30.8 billion won in sales and an improvement of 0.8 billion won in net profit compared to the previous year.’,
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, ’11st recorded sales of 305.9 billion won and a net loss of 39.1 billion won in the first half of this year. Although sales decreased by 107.4 billion won compared to the previous year, the net profit increased by 11.8 billion won.’,
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, ‘SK Planet improved its profitability by expanding its own solution-based advertising revenue and reducing outsourcing costs. In the first half of 2024, the company recorded sales of 132.4 billion won and a net loss of 7 billion won, showing an increase of 4.1 billion won in sales and 23.7 billion won in net profit compared to the same period last year.’,
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, ‘SK Square also successfully raised 262.5 billion won in cash by selling all shares of non-core asset Krafton in the second quarter.’,
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, ‘Han Myung-jin, CEO of SK Square, stated, “We will accelerate the value-up and liquidity of our existing portfolio from the second half of this year” and added, “We will accumulate all resources necessary to transition to a semiconductor-focused portfolio and devote ourselves to preparing for the future.”‘,
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