SK Telecom Co.,Ltd (NYSE:SKM) Q4 2022 Earnings Conference Call February 8, 2023 1:00 AM ET
Company Participants
Jin-won Kim - Chief Financial Officer & Head, Corporate Planning Team
Conference Call Participants
Sun Jung Lee - Bank of America
Soojin Kim - Mirae Asset Securities
Seyon Park - Morgan Stanley
Joonsop Kim - KB Securities
Hoi-Jae Kim - Daishin Securities
Unidentified Company Representative
[Foreign Language]
Good afternoon. I am Hee Jun Chung [ph], IRO of SK Telecom. Thank you for joining SK Telecom's Earnings Conference Call. We are providing consecutive interpretation for the call which will consist of a presentation on fiscal year 2022 earnings highlights, future business plans, and strategic directions as well as the Q&A session.
The call is attended by our executives from relevant business divisions including Jin-won Kim, CFO and Head of Corporate Planning of SK Telecom. Before we begin I would like to remind you that all forward-looking statements are subject to change depending on market situation.
Now, let me present our CFO.
Jin-won Kim
[Foreign Language]
Good afternoon. This is Jin-won Kim, CFO of SK Telecom. As it is my first time greeting you in the new year, I would like to wish all of you a Happy New Year. Around the world, much attention has been paid to artificial intelligence and mobility technology and these future-oriented innovative technologies are expected to be part of our daily lives in the near future.
Against this backdrop, SK Telecom announced the vision of becoming a differentiated AI company in November last year. This year will be the first year to achieve our AI company vision in earnest through company-wide transformation and innovation. For more specific strategies and road maps on AI company we plan to share them with the market as soon as possible.
Now, let me report on the consolidated financial results for fiscal year 2022. Consolidated revenue reported KRW17,305 billion, up 3.3% year-on-year and the operating income posted KRW1,612.1 billion, up 16.2% year-on-year.
5G subscriber growth and solid growth of new businesses including B2B business resulted in strong revenue growth, while market stability contributed to improved earnings for 2022.
Net income recorded KRW947.8 billion on the back of decrease in equity method gains following the spinoff in 2021. On a non-consolidated basis revenue grew 2.6% year-on-year to KRW12,414.6 billion. Operating income and net income reported KRW1,321.1 billion and KRW869.5 billion respectively.
Supported by such solid earnings, we will actively pursue transformation into an AI company that I mentioned earlier and lay a strong foundation for future growth businesses to bear tangible and fruitful results.