SOCAR said on the 12th that it posted a fifth straight quarter of operating profit as it reported results for the third quarter of 2025.
SOCAR recorded third-quarter revenue of 111.8 billion won, operating profit of 6.8 billion won, and net profit of 1.6 billion won. Revenue fell 4.4% from a year earlier, but operating profit rose 47% year over year thanks to efficiency-focused vehicle operations and improvements to the expense structure. Net profit also improved 36.9% to 1.6 billion won, demonstrating the results of profitability-focused management.
In the third quarter, SOCAR enhanced its vehicle supply adjustment and redeployment strategy, lifting both vehicle utilization and revenue per vehicle. Vehicle utilization rose to 39.1% from the average 34.4% for the third quarters of the previous three years (2022–2024), and revenue per vehicle increased 6.9% to 1.71 million won from 1.63 million won.
SOCAR also moved away from short-term revenue-driven growth to focus on overhauling its pricing plans and loyalty program to expand sustainable customer value and improve retention. As a result, the number of users in Aug.–Sep. increased by about 47,000 from a year earlier, strengthening the foundation for mid- to long-term growth.
In Jeju, the company established the 2,500-square-meter offline hub "Jeju SOCAR Terminal" near Jeju International Airport to kick off a full-fledged business expansion. The space goes beyond simple vehicle lending and returns to serve as a test bed for mobility technologies such as V2X (vehicle-to-everything) and bidirectional charging for electric vehicles. It will also be linked with "SOCAR Air" to provide integrated travel services from flight bookings to car sharing. As of the third quarter, the Jeju region accounted for about 7% of short-term car-sharing revenue and maintained solid profitability with an average utilization rate of 67% and a gross profit margin (GPM) exceeding 33%.
Chief Executive Park Jae-uk of SOCAR said, "The 'SOCAR 2.0' strategy, which maximizes the lifetime value (LTV) of vehicles and customers, is leading to structural profit improvement," and added, "We will advance the 'SOCAR 2.0' strategy and strengthen operational efficiency to build a sustainable profit-centered growth system."