Financials SK Inc.

Equities

A034730

KR7034730002

IT Services & Consulting

End-of-day quote Korea S.E. Other stock markets 13/09/2024			5-day change	1st Jan Change
147,900.00 ^KRW	+2.49%		+3.94%	-16.91%

09-11	SK Inc. agreed to acquire Ackerton Technology Services Co., Ltd. from Ackerton Partners Co., Ltd. for KRW 759.07 million.	CI
09-11	SK Inc. agreed to acquire All business, related assets, liabilities, personnel, and goodwill from Ackerton Partners Co., Ltd. for KRW 3 billion.	CI

Projected Income Statement: SK Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	99,265	81,826	98,325	134,552	131,238	132,015	137,090	142,892
Change	-	-17.57%	20.16%	36.84%	-2.46%	0.59%	3.84%	4.23%
EBITDA ¹	11,460	7,820	13,513	16,788	14,044	15,790	17,564	18,140
Change	-	-31.76%	72.8%	24.24%	-16.34%	12.43%	11.24%	3.28%
EBIT ¹	3,950	-191.1	4,936	8,005	5,059	6,293	8,485	9,588
Change	-	-	-	62.19%	-36.81%	24.4%	34.83%	13.01%
Interest Paid ²	-1,375,255	-876,215	-1,451,708	-1,649,803	-2,479,799	-2,470,600	-2,089,514	-2,174,550
Earnings before Tax (EBT) ¹	2,777	-98.62	6,027	5,909	-747.7	4,091	6,521	7,459
Change	-	-	-	-1.96%	-	-	59.38%	14.39%
Net income ¹	717.3	189.4	1,970	1,099	-475	1,261	1,957	2,224
Change	-	-73.6%	940.41%	-44.24%	-	-	55.23%	13.63%
Announcement Date	07/02/20	09/02/21	09/02/22	14/02/23	07/02/24	-	-	-

¹KRW in Billions²KRW in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	24,958	23,610	23,726	18,781	20,004	19,360	22,250	23,446	25,563	27,106	30,764	33,327	36,583	34,534	32,703	31,923	33,864	32,654	33,027	31,197	32,428	34,079
Change	-	-5.4%	0.49%	-20.84%	6.51%	-3.22%	14.92%	5.37%	9.03%	6.04%	13.49%	8.33%	9.77%	-5.6%	-5.3%	-2.38%	6.08%	-3.57%	1.14%	-5.54%	3.95%	5.09%
EBITDA	2,894	-	987	2,155	2,452	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	118.32%	13.81%	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	1,005	494.7	-922.7	189	452.5	104.9	1,545	1,215	1,557	616.2	3,053	3,578	1,899	-491.3	1,130	695.1	2,712	424.7	1,537	756.2	1,997	1,590
Change	-	-50.77%	-	-	139.4%	-76.81%	1,372.16%	-21.34%	28.16%	-60.43%	395.46%	17.2%	-46.93%	-	-	-38.51%	290.16%	-84.34%	261.95%	-50.81%	164.05%	-20.39%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-772,434	-532,430	-	-	-	-
Earnings before Tax (EBT) ¹	1,147	-541.1	-1,123	379.7	923.9	-241.6	928.3	2,142	1,714	1,245	3,380	-	1,444	-2,300	14.76	-217.6	1,113	-1,588	1,133	689.1	1,010	-
Change	-	-	107.46%	-	143.32%	-	-	130.79%	-19.99%	-27.36%	171.5%	-100%	-	-	-	-	-	-	-	-39.2%	46.57%	-100%
Net income ¹	454.3	-314.9	-187.4	11.14	508	-142.3	232.3	501	16.02	1,221	1,223	-	179.4	-1,101	-	-141.4	326.7	-1,085	157.4	181	154.3	246
Change	-	-	-40.47%	-	4,459.58%	-	-	115.68%	-96.8%	7,519.5%	0.15%	-100%	-	-	-100%	-	-	-	-	14.96%	-14.72%	59.4%
Announcement Date	14/11/19	07/02/20	15/05/20	14/08/20	16/11/20	09/02/21	17/05/21	17/08/21	15/11/21	09/02/22	16/05/22	16/08/22	14/11/22	14/02/23	15/05/23	14/08/23	14/11/23	07/02/24	16/05/24	14/08/24	-	-

¹KRW in Billions

Estimates

Forecast Balance Sheet: SK Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	33,788	37,670	39,663	49,351	53,352	58,116	58,193	55,485
Change	-	11.49%	5.29%	24.43%	8.11%	8.93%	0.13%	-4.65%
Announcement Date	07/02/20	09/02/21	09/02/22	14/02/23	07/02/24	-	-	-

¹KRW in Billions

Estimates

Cash Flow Forecast: SK Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	7,863	9,239	8,733	13,997	18,915	7,933	11,189	8,546
Change	-	17.49%	-5.48%	60.28%	35.14%	-58.06%	41.04%	-23.63%
Free Cash Flow (FCF) ¹	118,730	455,860	-3,084,291	-6,382,768	-7,561,333	2,823,472	2,867,775	5,022,290
Change	-	283.95%	-776.59%	106.94%	18.46%	-137.34%	1.57%	75.13%
Announcement Date	07/02/20	09/02/21	09/02/22	14/02/23	07/02/24	-	-	-

¹KRW in Million

Estimates

Forecast Financial Ratios: SK Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	11.55%	9.56%	13.74%	12.48%	10.7%	11.96%	12.81%	12.7%
EBIT Margin (%)	3.98%	-0.23%	5.02%	5.95%	3.85%	4.77%	6.19%	6.71%
EBT Margin (%)	2.8%	-0.12%	6.13%	4.39%	-0.57%	3.1%	4.76%	5.22%
Net margin (%)	0.72%	0.23%	2%	0.82%	-0.36%	0.96%	1.43%	1.56%
FCF margin (%)	119.61%	557.11%	-3,136.83%	-4,743.73%	-5,761.55%	2,138.76%	2,091.89%	3,514.74%
FCF / Net Income (%)	16,553.04%	240,727.05%	-156,546.78%	-580,947.19%	1,591,791.85%	223,921.96%	146,514.67%	225,815.27%
Profitability
ROA	1.3%	-0.15%	1.3%	0.61%	-0.24%	1.64%	1.79%	2.15%
ROE	3.17%	-0.39%	9.78%	6.04%	-0.64%	6.2%	8.44%	8.86%
Financial Health
Leverage (Debt/EBITDA)	2.95x	4.82x	2.94x	2.94x	3.8x	3.68x	3.31x	3.06x
Debt / Free cash flow	0.28x	0.08x	-0.01x	-0.01x	-0.01x	0.02x	0.02x	0.01x
Capital Intensity
CAPEX / Current Assets (%)	7.92%	11.29%	8.88%	10.4%	14.41%	6.01%	8.16%	5.98%
CAPEX / EBITDA (%)	68.62%	118.14%	64.62%	83.37%	134.68%	50.24%	63.71%	47.11%
CAPEX / FCF (%)	6.62%	2.03%	-0.28%	-0.22%	-0.25%	0.28%	0.39%	0.17%
Items per share
Cash flow per share ¹	144,320	185,346	107,272	135,743	205,846	176,918	180,149	181,253
Change	-	28.43%	-42.12%	26.54%	51.64%	-14.05%	1.83%	0.61%
Dividend per Share ¹	5,000	7,000	8,000	5,000	5,000	5,000	5,400	5,380
Change	-	40%	14.29%	-37.5%	0%	0%	8%	-0.37%
Book Value Per Share ¹	301,682	333,331	404,377	385,812	375,776	292,785	330,638	334,403
Change	-	10.49%	21.31%	-4.59%	-2.6%	-22.09%	12.93%	1.14%
EPS ¹	12,917	3,544	37,332	19,506	-13,941	16,707	26,734	30,566
Change	-	-72.56%	953.39%	-47.75%	-171.47%	-219.84%	60.02%	14.33%
Nbr of stocks (in thousands)	55,824	52,304	56,096	55,408	55,202	54,520	54,520	54,520
Announcement Date	07/02/20	09/02/21	09/02/22	14/02/23	07/02/24	-	-	-