SK Networks recently reported a consolidated operating profit of 53.1 billion won for the first quarter of this year, marking a 22.6% increase compared to the same period last year.
The growth in revenue was primarily driven by the mobility sector, specifically SK Rent-a-Car and Speedmate. SK Rent-a-Car experienced higher profits due to an increase in the sale of used cars. Speedmate saw a rise in profits as a result of increased sales of car parts, fueled by the expanding imported car market and a larger customer base seeking maintenance services.
The hotel division, represented by Walkerhill, has been performing well, achieving a surplus for three consecutive quarters following the easing of COVID-19 social distancing measures. The normalization of operations at the Incheon Airport Transit Hotel and Martina Lounge also contributed to the positive performance of SK Networks.
Despite the decline in handset sales, the information communication business managed to achieve a slight increase in operating profit, thanks to efforts focused on cost efficiency, such as optimizing logistics.
In the chemical trading sector, profitability improved through effective control of supply and demand.
However, SK magic, the home appliance division, experienced a decline in operating profit due to intensified competition in the market and rising costs.
Nevertheless, SK Networks continues its ongoing efforts to revitalize the rental business, and the number of rental accounts has now surpassed 2.34 million.
