According to SK Hynix's latest financial report, the operating profit for the second quarter was KRW 9.21 trillion, a year-on-year increase of 68.5%, exceeding analysts' expectations of KRW 8.93 trillion; Revenue was KRW 22.23 trillion, a year-on-year increase of 35.4%, exceeding analysts' expectations of KRW 20.56 trillion. In addition, on a quarterly basis, the second quarter revenue increased by 26% compared to the previous quarter, and the operating profit increased by 24%. SK Hynix stated, "As major global technology companies actively invest in the field of artificial intelligence (AI), the demand for AI oriented memory continues to grow. The company's DRAM and NAND flash memory shipments have exceeded expectations, resulting in the highest historical performance. ”The company also stated that it has expanded the sales of 12 layer HBM3E products in the DRAM business field, and increased sales in various application areas of NAND flash memory. With the highest level of competitiveness in the AI oriented storage industry and profit oriented business activities, it has continued its good performance trend. ”
Thanks to this performance achievement, as of the end of the second quarter, cash and cash equivalents reached KRW 17 trillion, an increase of KRW 2.7 trillion compared to the previous quarter. The debt to net debt ratio was 25% and 6% respectively, with a significant decrease of KRW 4.1 trillion in net debt compared to the previous period. In addition, while customers increased their storage orders in the second quarter, they also increased their finished product production and maintained a stable inventory level. SK Hynix predicts that new products from customers will be launched soon in the second half of the year, and storage demand will continue to grow. SK Hynix will double the year-on-year growth in the HBM field based on its existing HBM3E product performance and mass production capabilities, thereby achieving stable performance results. HBM4 also plans to prepare timely supply according to customer requirements and continuously strengthen its competitiveness at the highest level in the industry.
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