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SK Telecom Announces FY 2019 Results

Financial results News - Published on Mon, 10 Feb 2020

Image Source: SK Telecom
SK Telecom announced its earnings for the year 2019 on a K-IFRS consolidated basis: revenue of KRW 17.744 trillion, operating income of KRW 1.110 trillion, and net income of KRW 861.9 billion. SK Telecom’s revenue increased by 5.2% compared to the previous year, reaching a record yearly revenue in 2019. This comes as a result of sizable growth in its new business areas including media and security, along with its strengthened leadership in the mobile business through the world’s first commercialization of 5G. Operating income fell by 7.6% compared to the previous year affected by expanded investment in 5G network, which includes 5G spectrum license costs. Net income dropped by 72.5% due to factors including decreased equity method gains from SK Hynix.

SK Broadband’s IPTV business revenue for 2019 increased 10.7% YoY to KRW 1.299 trillion affected by growth in premium subscribers and content consumption. It secured 5.19 million cumulative IPTV subscribers by adding 464,000 net subscribers in 2019.

SK Telecom’s security business - ADT Caps and SK Infosec – posted an annual revenue of KRW 1.193 trillion representing a 17.4% YoY growth and annual operating income of KRW 153.5 billion reflecting a 21.9% increase from 2018. In 2019, ADT Caps strengthened its position in the dispatch security market and introduced new services that integrate physical and information security with SK Infosec.

In commerce business, annual operating income of both 11st and SK Stoa turned to surplus backed by substantial business growth.

SK Telecom expects to reach a consolidated revenue of KRW 19.2 trillion this year based on improved performance of its mobile communication business driven by 5G market expansion, and solid growth of media, security and commerce businesses.

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Posted By : TelecomGuru on Mon, 10 Feb 2020
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