Although SK Networks suspended its steel business in the second quarter, sales fell sharply, with other business sectors, including rental subsidiaries, showing strong operating profits.
SK Networks announced on the 2nd that it has raised 2.1437 trillion won in consolidated sales and 37.7 billion won in operating profit in the 2nd quarter of 2022.
▲ SK Networks posted 2.1437 trillion won in consolidated sales and 37.7 billion won in operating profit in the second quarter of 2022. The photo shows the subsidiary SK Rent Car launched a short-term rental product for Volvo’s premium electric vehicle “Paul Star 2” at its Jeju branch in May 2022.
Sales fell 15.7% from the second quarter of 2021, while operating profit increased 38.9%.
The decline in sales was attributed to a sharp drop in global sales due to the suspension of the steel trading (trade) business at the end of June. Sales in the global sector were 387.4 billion won in the second quarter of 2022, down 46.2% from 719.9 billion won in sales in the same period last year.
The board of directors of SK Networks decided to stop the steel trading business at the end of June this year on July 6, 2021.
However, operating profit increased significantly as new businesses and affiliated services were expanded in the mobility and home care sectors, and the hotel business recovered as the impact of COVID-19 eased.
SK Rental Car introduced a series of new services to enhance customer convenience in the second quarter.
In May, Volvo launched a short-term rental product for its premium electric vehicle “Paul Star 2,” not only increasing customers’ access to electric vehicles, but also releasing “Smart Home Maintenance Service,” a service that visits the front of the house to repair vehicles.
It is also planning to make a leap forward as an eco-friendly rental mobility company by promoting ‘V2G (Electric Vehicle Charger) Demonstration Project’ that can solve the imbalance between power supply and demand by using electric vehicles as energy storage devices.
SK Magic showed solid growth with the launch of new rental products.
