SK Square (402340) Q3 2024 earnings summary

Executive summary

• Achieved record-high quarterly net income since launch, driven by improved performance of SK hynix and ICT affiliates, with 2024 1Q–3Q cumulative net income up KRW 3.0tn YoY to KRW 2.2tn.

• Disclosed a prior notice for a Corporate Value-up Plan, scheduled for November 2024.

• ESG rating upgraded to 'A+' by KCGS, placing in the top 2% of Korean companies in 2024.

Financial highlights

• Consolidated operating income increased by KRW 1.7tn YoY to KRW 1.2tn; net income rose by KRW 0.7tn YoY to KRW 1.1tn.

• 2024 3Q revenue was KRW 457.5bn; total assets at KRW 20,127.2bn; shareholders' equity at KRW 17,999.7bn.

• NAV as of 2024 3Q stood at KRW 31.9tn, with NAV per share at KRW 236,452.

Outlook and guidance

• Corporate Value-up Plan to be disclosed in November 2024, aiming to enhance shareholder value.

• Continued focus on ESG improvements and transparent information disclosure.