SK Square achieved record-high performance in the second quarter and first half of the year, thanks to an increase in equity earnings from strong performance by SK hynix.
SK Square announced on the 14th that its operating profit for the second quarter of this year reached 1.4011 trillion won, an increase of 80.8% compared to the same period last year, based on consolidated financial statements.
Sales for the first half of this year were 809.4 billion won, a decrease of 16.2% from the previous year. Operating profit rose 178% to 3.0534 trillion won compared to last year's figure of 1.0986 trillion won. This reflects the strong performance of SK hynix, improvements in operations (O/I) management, and the results of enhanced profitability in its information and communication technology (ICT) portfolio.
Since April this year, SK Square has been conducting a share buyback totaling 100 billion won. It plans to enhance shareholder value by eventually retiring all shares. Since its establishment in November 2021, SK Square has consistently executed share buybacks and retirements, accumulating 610 billion won to date.
Han Myung-jin, CEO of SK Square, noted, "We are enhancing the fundamental competitiveness of our portfolio through O/I-centered management while rapidly pushing for portfolio rebalancing, and we will prepare new investments focused on AI and semiconductors to boost long-term corporate value."