“Demand drops sharply due to corona”.. Battery sales more than doubled
In the News Reporter Jeon Geon-wookㅣSK Innovation (general president Kim Joon) announced on the 29th that its operating loss on a consolidated basis last year recorded KRW 2.568.8 billion, turning to the red. Sales declined 30.7% year-on-year to 34,164.5 billion won, and net loss turned to a deficit at 2.16 trillion won.
The performance of the petroleum and chemical sectors, the existing flagship business, was greatly shaken. The petroleum sector incurred an operating loss of KRW 2,222.8 billion, and the chemical sector also recorded a deficit of KRW 121.2 billion. The battery business saw an operating loss of 4265 billion won.
On the other hand, the lubricant business generated an operating profit of 2622 billion won, and the materials business generated an operating profit of 125.9 billion won.
An official from SK Innovation explained, “As a result of the global petroleum and chemical market slowdown due to Corona 19, the performance deteriorated,” and “the battery division’s sales increased significantly.” Battery business sales increased 133% from the previous year (690.3 billion won) to KRW 1.61 trillion.
SK Innovation also announced its policy of making aggressive investments in the battery business this year. In a conference call on the day, SK Innovation said, “Last year’s facility investment amounted to 4.4 trillion won, and this year is expected to be similar to that of last year.” Will”.
In fact, SK Innovation announced that it has decided to build an additional plant in Hungary with an investment of 1.26 trillion won.
Meanwhile, SK Innovation decided not to pay dividends last year. The reason is poor performance and increased business investment. An official from SK Innovation explained, “We do not pay dividends, but shareholder-oriented management is an important value.” “We are establishing a plan to return mid- to long-term shareholders through management performance and new business.”