SK networks Q3 2021 records: KRW 2.82 trillion in sales and KRW 47.2 billion in operating income
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2021-11-08
- The sales and operating income increased by 10.0% and 6.9% respectively, based on a year-on-year comparison thanks to the rental subsidiary’s profitable business.
- MINTIT was successful in used phone collection via collaboration with manufacturers and distributors.
- “Stakeholder value will be raised through expedited ESG management and subsidiary development.”
SK networks announced on November 8th, 2021 through a disclosure that it achieved KRW 2.82 trillion in sales and KRW 47.2 billion in operating income for Q3 2021 based on consolidated financial statements.
SK networks continued to make accomplishments in mobility and home care despite the prolonged COVID-19 pandemic to lead the sales and operating income increase by 10.0% and 6.9%, respectively.
SK rent-a-car, in particular, displayed a notable performance improvement as the short-term rent-a-car business has been on the rise especially in Jeju-do and the selling price ratio of secondhand cars has been improved. In addition, the business received favorable reviews from customers as SK rent-a-car direct, an online quotation/contract service for long-term rentals, has started to operate in full-scale and various events were offered including short-term rental discounts and free electric vehicle charging service.
SK magic released a series of new products including Stand-type Ice-making Water Purifier, Triple Care Dishwasher Wide and All Power Induction, and achieved 2.16 million rental accounts. Also, five products including Triple Care Dishwasher as well as It’s magic, a space for customer experience, won honors from the IDEA, an international design award, that altogether increased the brand value. Further efforts are put into enhancing the Special Rental service which is presented in partnership with Samsung Electronics.
The ICT recycling brand MINTIT’s used phone collection turned out to be successful through marketing arrangements linked with new phones released by Samsung, Apple, etc. and channel expansion. In the hotel business, Sweet Home by Walkerhill (a Walkerhill goods store) and Print Bakery Walkerhill Flagship Store (complex arts space) were newly opened to introduce new customer services. The business efforts in Q3 were directed to reduce loss from COVID-19.
SK networks plans to strive towards increasing investment and operational performance for sustained growth of its own businesses and subsidiaries in the future.
An SK networks executive said, “Customer-centered ESG management achievements will continue in Q4 with SK rent-a-car’s online channel enhancement and EV rental product marketing in addition to SK magic’s Green Collection launching and distribution channel expansion. Efforts will also be made for MINTIT and cartini that were spun off from SK networks in October last year to position them as platforms making use of each business’s specialty.” The executive also added, “We will lead a harmonized growth of the headquarters, subsidiaries and new businesses to continue to raise the value of stakeholders including shareholders and society.”
