SK Square (402340) Q2 2024 earnings summary

Executive summary

• Consolidated operating income rose by KRW 1.5tn year-over-year to KRW 774.8bn, and net income increased by KRW 1.4tn to KRW 728.8bn, driven by improved SK hynix earnings and portfolio growth.

• Net asset value (NAV) reached KRW 40.9tn, up 23% from the previous quarter, mainly due to the increased value of the SK hynix stake.

Financial highlights

• Revenue for 2Q 2024 was KRW 468.6bn, with total assets at KRW 19,006.5bn and shareholders' equity at KRW 16,918.4bn.

• Unconsolidated net cash stood at KRW 630.6bn, and a dividend income of KRW 43.8bn was recorded.

• Debt at the unconsolidated level was zero.

Outlook and guidance

• SK hynix expects further market leadership with increased shipments and mass production of HBM3E products in 2H 2024.

• ONE store plans to boost revenue and profitability by launching blockbuster games and expanding globally.