[Concall] SK Inno "SK On aims to return to profit in Q4"
![[Concall] SK Inno "SK On aims to return to profit in Q4"](http://www.asiae.co.kr/news/img_view.htm?img=2022091517163933921_1663229799.jpg)
SK Innovation announced that it aims for its battery business subsidiary, SK On, to return to profitability in the fourth quarter of this year.
An SK Innovation official stated during the Q3 earnings announcement on the 3rd, "The battery business in the fourth quarter is expected to be affected by a short-term slowdown in electric vehicle demand growth and a decline in metal prices," but added, "Profitability improvement will continue through increased productivity at new overseas plants, cost reduction, and greater benefits from AMPC (Advanced Manufacturing Production Credit)."
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He continued, "In the fourth quarter, we aim to achieve an operating profit turnaround, including expanded benefits from AMPC."
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