SKC (011790) Q4 2024 earnings summary

Executive summary

• Revenue for 4Q24 was KRW 425.0 bn, down 4.3% sequentially but up 75.4% year-over-year.

• Operating loss widened to KRW -82.6 bn in 4Q24, with an operating margin of -19.4%.

• Net loss attributable to common shareholders was KRW -260.1 bn in 4Q24.

• Discontinued operations included the disposal of FCCL (SK Nexilis) and CMP Pad (SK Enpulse) businesses in FY24.

Financial highlights

• Full-year 2024 revenue reached KRW 1,721.6 bn, up KRW 228.1 bn from 2023.

• Full-year operating loss increased to KRW -276.8 bn from KRW -213.7 bn in 2023.

• EBITDA for 4Q24 was KRW -35.8 bn, a sequential improvement but still negative.

• Net debt remained stable at KRW 2,822.1 bn at year-end 2024.

Outlook and guidance

• Targeting a doubling of copper foil sales volume year-over-year in 2025.

• Plans to secure a better cost structure by shifting mass production to Malaysia.

• Continued robust sales growth expected in semi materials, driven by AI/ASIC demand.

• On-time completion of PBAT plant in Vietnam and expansion of high-end chemical products planned.

• Tight net debt control and asset rebalancing to support financial soundness.