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SK Telecom Co Ltd ADR - Stock Quote SKM

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Morningstar's SK Telecom Co Ltd ADR Stock Analysis

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SK Telecom Posts Solid Core Business Results; Annualized Q1 Dividend Implies Over 6% Dividend Yield

Dan Baker Senior Equity Analyst

Analyst Note

| Dan Baker |

Narrow-moat SK Telecom reported a strong first-quarter result with revenue growth of 4% year on year and operating profit growth of 15.5% year on year. Revenue growth was driven mainly by an increasing 5G customer base in its mobile business as well as growth from internet protocol TV, or IPTV, and fixed line enterprise business customers. The telecom business model operating leverage on the revenue growth, as well as reduced mobile marketing spend, drove the operating income growth. The result puts the business on track to hit its 2022 revenue guidance of KRW 17.4 trillion implying a little over 4% year-on-year growth driven by stable growth of mobile and fixed line communications and high growth from IPTV, enterprise and AIVERSE businesses. We retain our forecasts and our USD 30.70 per ADR fair value estimate.

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SK Telecom Co Ltd ADR's Company Profile

Business Description

SK Telecom is South Korea's largest wireless telecom operator, with 29 million mobile customers. The firm also owns SK Broadband (formerly Hanaro Telecom), which has 6.5 million broadband customers and 8.7 million broadband TV customers. While the firm also purchased stakes in businesses in security and semiconductor memory production as well as developing e-commerce and internet platform businesses, these were all spun off into the separate, SK Square business in November 2021.

SK T-Tower, 65, Eulji-ro, Jung-gu
Seoul, 04539, Korea, Republic of
T +82 261002114
Sector Communication Services
Industry Telecom Services
Most Recent Earnings Dec 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 24,125

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