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SK Telecom Co., Ltd.
SKM.NISIN: US78440P1084SEDOL: 2495648 |
Rating: SELL |
Target Price: 13.10 USD |
Investment Horizon: 6 to 12 months |
1Q 09 News Alert
SK Telecom Co. Ltd (SKT) released its 1Q 09 results today. In 1Q 09, results revenues, EBITDA and operating income were in line with our estimates, while adjusted net income was below our estimate due to higher-than-expected other expenses. Going forward, we expect robust expansion in subscriberbase and an anticipated increase in Cellular and Interconnection Average Revenue Per User (ARPU) to drive top-line growth....
4Q 08 and FY 2008 Update Report
Going forward, we expect that the merger of KT Corporation (KT) and KT Freetel (KFT) will impact growth in SKT’s subscriber-base and intensify competition in its operating markets. However, in order to combat rising competition, the company is introducing new handset models as well as investing in the development and expansion of its new SIM based mobile finance services. Furthermore, we expect its interconnection ARPU to increase with a rise in traffic…
4Q 08 News Alert
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SK Telecom Co. Ltd (SKT) released its 4Q 08 and FY 2008 results today. In 4Q 08, revenues were in line with our estimates, while operating income, EBITDA and adjusted1 income were above our estimates, primarily due to lower than expected operating expenses, as a percentage of revenues. In FY 2008, revenues and EBITDA were…
3Q 08 Update Report
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During 3Q 08, SK Telecom Co. Ltd’s (SKT) revenues were in line with our estimates. The y-o-y growth in revenues was driven by impressive performance from the Cellular and Interconnection segment, partially offset by a decline in revenues from the Wireless data segment. Increased commission expenses reflected a y-o-y decline in EBITDA margin. Going forward, we expect revenues to be driven by increased subscriber-base…
3Q 08 News Alert
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SK Telecom Co. Ltd’s (SKT) 3Q 08 revenues were in line with our estimates while operating income, EBITDA and adjusted1 income were below our estimates, primarily due to higher than expected operating expenses as a percentage of revenues. In light of the weak 3Q 08 results we are likely to revise our estimates and target price downwards. However at current levels, we do not anticipate a change in our rating....
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