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Energy Minerals

SK Innovation Co., Ltd.

Company Background

SK Innovation is a leading oil and chemical company in South Korea, and a core business of the SK group, the country's third-largest conglomerate. It deals with a wide range of businesses, from petroleum development to batteries and information electronics materials. It has also extended its efforts to the development of nonconventional energy resources, such as shale-derived resources.

The company's origins date back to the establishment of Korea Oil, the country's first oil refining company, in 1962. In addition to the business of its own, SK Innovation has widened its business through its subsidiaries. These include: SK Energy for oil refinery and wholesale; SK Lubricants for production of lubricating oil for leading automakers worldwide, including BMW of Germany; and SK Global Chemical for chemical products.

The company is engaged in a large-scale project in the U.S. state of Oklahoma, where it has acquired a stake in an oil producing field. As the first attempt ever among South Korean businesses, the company is preparing to produce oil and gas from the field's shale layers. The company expects the production of shale-derived energy to eventually reach about 15% of total capacity in the field.

The company is also actively involved in new businesses. It has signed with Chinese businesses, including a leading automaker, to form a joint venture in China to produce battery packs for electric vehicles, with a capacity target of 20,000 units by 2017.

In addition, SK Global Chemical has agreed with Saudi Basic Industries to launch a joint effort to produce and market Nexlene, a high-performance polyethylene originally developed using SK's own technology.

Business Summary

SK Innovation Co., Ltd. engages in the development and production of petroleum products. It operates through the Petroleum Development and Battery Businesses. The Battery business provides cell, module, pack, and battery management system. The company was founded on July 3, 2007 and is headquartered in Seoul, South Korea.

Financial Highlights

Dec 2021 KRWUSD
Revenue46,842.92B40,905.16M
Gross Profit4,193.79B3,662.19M
Operating income1,753.37B1,531.12M
Income before tax394,174.96M344.20M
Net income260,841.23M227.77M
EBITDA3,267.12B2,852.98M
Diluted EPS3,640.723.17
Dividends Per Share00
Total Assets49,557.44B41,688.69M
Total liabilities29,924.24B25,172.86M
Total equity17,323.35B14,572.74M
Operating cash flow-527,408.76M-460.55M
Currency in KRWCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 46,162.65B 54,216.52B 49,306.93B 34,549.94B 46,842.92B
Gross Profit 5,337.81B 3,903.87B 2,962.99B -327,570.28M 4,193.79B
Operating income 3,221.78B 2,103.16B 1,113.64B -2,420.28B 1,753.37B
Income before tax 3,223.67B 2,237.35B 443,257.63M -2,730.76B 394,174.96M
Net income 2,105.93B 1,638.07B 143,410.34M -2,186.28B 260,841.23M
EBITDA 4,121.84B 3,029.78B 2,321.91B -1,053.33B 3,267.12B
Diluted EPS 22,328.38 -- -400.75 -25,448.75 3,640.72
Dividends Per Share 7,912.95 7,912.95 2,967.35 0 0
Total Assets 34,250.14B 35,853.38B 39,534.50B 38,498.14B 49,557.44B
Total liabilities 14,940.81B 16,679.12B 21,321.28B 23,039.68B 29,924.24B
Total equity 18,085.77B 18,122.63B 17,468.08B 14,539.97B 17,323.35B
Operating cash flow 2,188.61B 1,751.33B 1,660.47B 2,847.20B -527,408.76M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 40,833.46M 49,264.54M 42,280.57M 29,282.39M 40,905.16M
Gross Profit 4,721.59M 3,547.30M 2,540.76M -277.62M 3,662.19M
Operating income 2,849.85M 1,911.06M 954.94M -2,051.28M 1,531.12M
Income before tax 2,851.52M 2,033.00M 380.09M -2,314.42M 344.20M
Net income 1,862.81M 1,488.45M 122.97M -1,852.95M 227.77M
EBITDA 3,646.00M 2,753.04M 1,991.03M -892.74M 2,852.98M
Diluted EPS 19.75 -- -0.34 -21.56 3.17
Dividends Per Share 6.99 7.19 2.54 0 0
Total Assets 31,993.03M 32,132.44M 34,186.08M 35,439.69M 41,688.69M
Total liabilities 13,956.20M 14,948.13M 18,436.83M 21,209.31M 25,172.86M
Total equity 16,893.91M 16,241.83M 15,104.91M 13,384.86M 14,572.74M
Operating cash flow 1,935.95M 1,591.37M 1,423.85M 2,413.11M -460.55M

Valuation Measures

Dec 2021
PER65.50
ROA0.59%
ROE1.63%
Operating margin3.74%
Profit margin0.55%

Key executives

  • President, Chief Executive Officer & Director: Jun Kim
  • Chief Financial Officer: Yang-Seob Kim
  • Head-Research & Development: Il-Soo Kim
  • Head-Compliance Support: Byung-Rae Lee
  • Chairman-Executive Board: Tae-Won Chey

Shareholders

  • SK Inc. (33.4%)
  • National Pension Service of Korea (8.3%)
  • SK Innovation Co., Ltd. (8.2%)
  • Mirae Asset Global Investments Co., Ltd. (1.7%)
  • Samsung Asset Management Co., Ltd. (1.6%)
  • The Vanguard Group, Inc. (1.4%)
  • BlackRock Fund Advisors (1.2%)
  • ENEOS Holdings, Inc. (0.9%)
  • Norges Bank Investment Management (0.8%)
  • BlackRock Advisors (UK) Ltd. (0.6%)

Contact Details

Related Companies

  • Sk Geo Centric Co., Ltd.
  • SK E&P Co. Ltd.
  • SK Future Energy (Shanghai) Co., Ltd.
  • SK Battery Co., Ltd.
  • Happy Kium Co., Ltd.
  • Blue Dragon Energy Co., Ltd.
  • SK Innovation Insurance (Bermuda) Ltd.
  • SK New Energy (Jiangsu) Co., Ltd.
  • SK Battery Manufacturing Kft
  • SK Battery Hungary Kft
  • SK Battery America, Inc.
  • Sk Ie Technology Co., Ltd.
  • Dow Chemical Co. /Poly Vinylidence Chloride Bus/
  • SK GC Americas, Inc.
  • SK Battery Systems Co., Ltd.
  • Sk Lubricants Cop Ltd.
  • Sk Trading International Co., Ltd.
  • SK Incheon Petrochem Co., Ltd.
  • SK Energy Co., Ltd.
  • SK Incheon Oil Co. Ltd.
  • SK Geocentric Co.
  • SK E&P America, Inc.
  • SK USA, Inc.
  • Sk Energy Co. Ltd. /Petroleum & Chemical Businesses/

Competitors

  • HD HYUNDAI CO.,LTD.
  • Exxon Mobil Corporation
  • TotalEnergies SE
  • PetroChina Company Limited Class H
  • Chevron Corporation
  • BP p.l.c.
  • Shell Plc
  • China Petroleum & Chemical Corporation Class H
  • Saudi Arabian Oil Co.
  • GS Holdings Corp.
  • S-Oil Corporation
  • Neste Corporation
  • Formosa Chemicals & Fibre Corporation
  • Electrovaya Inc.
  • ISU CHEMICAL CO. LTD.
  • SES AI Corporation Class A
  • Solid Power, Inc. Class A
  • STR Holdings, Inc.
  • Hubei Guochuang Hi-Tech Material Co ltd Class A
  • E1 Corporation
  • Elkem ASA
  • Enovix Corporation
  • FREYR Battery
  • NOVONIX Ltd
  • NVH Korea, Inc.
  • SEOWONINTECH Co., Ltd.
  • SK Discovery Co. Ltd.
  • SK Gas Co., Ltd.
  • Vulcan Energy Resources Ltd.
Last Updated on 29 Nov, 2022

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