SK Telecom (Buy, TP: KRW 116,000, +122%) Q2 24 Quick Take: Encouraging Mobile and Enterprise trend again; push towards AI monetisation
SK Telecom saw an acceleration in topline while underlying EBITDA came in 2% ahead. Encouragingly, mobile trends improved on better mix and rise in roaming users while Enterprise, a key focus area, expanded its contribution to near 10% of overall revenue. Focus on AI continues to hold back shareholder remuneration however we think.
SK Telecom is a wireless telecommunications services provider in the Republic of Korea (South Korea). Co. provides the following services: wireless Internet services, which include music portal services, game portal services, multimedia services, and wired and wireless integrated multimedia services; ubiquitous and convergence services, which include telematics, digital home, commerce, mobile radio frequency identification and mobile community; international roaming services, which include global system for mobile communication; video telephony services, which enable subscribers incorporating video conferences, as well as B2B services.
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