New Street: SK Telecom (Buy, TP: KRW 112,000, +120%) Q3 22 Quick Take: In-line quarter, decent mobile performance
SKT’s Q3 results came in as expected. Overall revenue growth slowed to 3.1% YoY, with MSR growth was better than peers. EBITDA grew 3.3% YoY on lower advertising cost and COGS which offset higher labour cost. SKT announced KRW 181bn in dividends again, similar to past two quarters. Dividend is expected to be 30-40% of EBITDA less Capex.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.