[Concall] SK Telecom "Considering 11st, ADT Caps, SKB, etc. as IPO Candidates"

[Asia Economy Reporter Seulgina Jo] SK Telecom stated that it will prepare to maximize the corporate value of each company by considering the macroeconomic situation regarding the timing of the initial public offerings (IPO) of its subsidiaries, including SK Broadband.

On the 7th, Ha Hyung-il, head of SK Telecom's corp2 center, explained during a conference call following the earnings announcement, "We are considering 11st, ADT Caps, SK Broadband, and Wavve, which have received external funding, as IPO candidates."

He added, "The year 2020 will be a year to have the market recognize the value of new businesses and to establish concrete plans such as the schedule for future IPOs."

SK Telecom's consolidated sales in 2019 amounted to KRW 17.7437 trillion, an increase of 5.2% compared to the previous year, while operating profit decreased by 7.6% to KRW 1.11 trillion. Although sales increased due to the expansion of 5G subscribers and growth in the media business, the large-scale 5G investment burden and marketing costs negatively impacted operating profit. Net profit stood at KRW 861.9 billion, down 72.5% due to the equity method profit impact from SK Hynix.

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