SK Discovery's third quarter sales reached 3.4 trillion won... Maximum since the holding company was launched

(Seoul = Yonhap News) Reporter Kim Min-ji = SK Discovery announced on the 13th that it recorded sales of 3.4415 trillion won and operating profit of 170.8 billion won in the third quarter based on consolidated financial statements. This is an increase of 32% and 2%, respectively, compared to the same period last year.

Pre-tax profit was 368.7 billion won, an increase of 311% compared to the same period last year.

Sales and pre-tax profit are the largest on a quarterly basis since the holding company was launched in December 2017.

The company explained that this was the result of improved performance of major subsidiaries such as SK Gas, SK Chemicals, and SK Plasma, as well as profits related to portfolio rebalancing that had been promoted.

By subsidiary, SK Gas recorded an operating profit of 147.7 billion won, turning into a surplus compared to the previous quarter.

SK Chemicals posted an operating profit of 33.6 billion won, up 115.6% from the same period last year, thanks to the growth of the pharmaceutical business and the reduction of SK Bioscience's deficit amid the sluggish chemical industry.

SK Plasma’s operating profit was calculated to be 5.4 billion won.

SK Discovery is working to strengthen its financial structure and business competitiveness through portfolio reorganization this year.

SK Gas and SK Chemicals secured 1.6 trillion won by securitizing minority stakes in their power generation subsidiaries.

Consolidated cash and cash equivalents at the end of the third quarter amounted to KRW 3.8472 trillion, an increase of KRW 1.3992 trillion from the end of last year. The debt ratio was lowered from 138% to 127%.

SK Gas plans to increase the efficiency of propane raw material procurement and PDH business operation through the merger with SK Advanced.

SK Discovery is implementing a mid-term shareholder return policy by purchasing and canceling a total of 60 billion won worth of additional treasury stocks over the three years from this year to 2028 and paying out at least 1,700 won per share per year based on common stock.