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May 2013
InvestorPresentation
0
This material contains forward-looking statements with respect to the financial condition, results of operations and business of
SK Telecom and its subsidiaries (the “Company”) and plans and objectives of the management of the Company. Statements
that are not historical facts, including statements about the Company‟s beliefs and expectations, are forward-looking
statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results or performance of the Company to be materially different from any future results or performance
expressed or implied by such forward-looking statements.
The Company does not make any representation or warranty, expressed or implied, as to the accuracy or completeness of the
information contained in this management presentation, and nothing contained herein is, or shall be relied upon as, a promise
or representation, whether as to the past or the future. Such forward-looking statements were based on current plans,
estimates and projections of the Company and the political and economic environment in which the Company will operate in
the future, and therefore you should not place undue reliance on them.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update
publicly any of them in light of new information or future events. Additional information concerning these and other risk
factors are contained in the Company‟s latest annual report on Form 20-F and in the Company‟s other filings with the U.S.
Securities and Exchange Commission (SEC).
Disclaimer
Contents
1. MNO
Marketing strategy
Tariff plans
Subscribers
ARPU
Marketing expenses & CAPEX
2. Growth businesses (non-MNO)
B2B
IPTV
Platform
3. Financial results for 1Q13
1
1. MNO – Marketing strategy
Retention programs Reduced marketing expenses
SK Telecom management is focused on shifting the marketing paradigm to retention
New price
plans
T&T Sharing plan
- Unlimited on-net voice calls
All Sharing plan
- Unlimited on&off-net voice calls
Churn
reduction
plans
Implemented early termination
penalty program in Nov. 2012
- Over 90% of new subscribers
Other retention focused
initiatives launched/planned
Enhanced
upgrade
plan
Upgrade program that
provides more benefits to
long-term subscribers
Increase
service
stickiness
Reduce MNP and
churnReduce marketing expenses
Subsidy
regulation
KCC closely monitoring market
activities
Legislation to regulate subsidy levels
in preparation
2
1. MNO – Tariff plans
T&T and All sharing plans
Strong uptake- After 3 days: 0.2m subscribers 2 weeks: 0.6m end of
April: 1.2m
Attractive pricing- Non-aggressive, but competitive in terms of benefits and
pricing
Up-selling effect- LTE subscribers choosing to remain at existing or move up
to a higher plan to maintain data allotment
- 2G and 3G subscribers upgrading to higher LTE price plans
Retention oriented programs- Have and will continue to introduce retention focused
programs and encourage data usage
Current status of new tariff plan
Introduced new price plans to accelerate move towards data and enhance retention
- Launched T&T and All Sharing plans in March and April, respectively
Price
plan
Voice
Data
Price
(net of
discount)On-netOff-net
(min.)
35
Unlimited
80 550M 27,800
45 130 1.1G 33,750
55 180 2G 40,750
65 280 5G 48,250
75Unlimited mobile
8G 56,250
85 Unlimited
mobile and
fixed
12G 65,000
100 16G 76,000
Note: Additional KRW 3,000 for unlimited voice plan
3
1. MNO – Subscribers
LTE and smartphone subscribers continue to show steady growth
Retention-centric paradigm shift to lead to decrease in churn rate
Subscribers
Subscribers
by network(m)
14.8 11.6 9.8
6.9 5.0 4.7
8.2 12.7 15.919.0
14.5 13.0
0.6 7.5 9.3
2008 2009 2010 2011 2012 1Q13
LTE
WCDMA
CDMA
24.325.7
26.6 27.0
0.5 3.9
11.1
16.0 16.6
1.9%15.2%
41.7%59.3% 61.6%
0.0%
50.0%
100.0%
150.0%
200.0%
0.0
3.0
6.0
9.0
12.0
15.0
18.0
2009 2010 2011 2012 1Q13
Smartphones
% of total subscribers
27.0
Smartphone
subscribers(m)
Total subscribers exceeded 27m as of 1Q13
Despite intense market competition in 1Q13, the churn rate decreased marginally YoY as focus turned to retention activities
LTE subscribers reached 9.3m in 1Q13 and exceeded 10m recently. Over 35% of SKT‟s subscribers are on the LTE service
The number of smartphone subscribers exceeded 16m, accounting for more than 60% of the subscriber-base
1Q13 1Q12 YoY 1Q13 4Q12 QoQ
Subscribers ('000) 27,030 26,556 473 27,030 26,961 68
Net adds 68 4 64 68 183 (115)
Activations 2,013 1,983 31 2,013 2,138 (125)
Deactivations 1,945 1,978 (34) 1,945 1,955 (10)
Monthly churn rate (%) 2.4% 2.5% -0.1%p 2.4% 2.4% 0.0%p
Average subscribers ('000) 26,974 26,558 416 26,974 26,856 117
Smartphone subscribers ('000) 16,647 12,574 4,072 16,647 15,979 668
LTE subscribers ('000) 9,334 1,766 7,568 9,334 7,530 1,804
23.0
4
ARPU continues to show solid growth boosted by the rise in LTE subscribers
Expect billing ARPU to maintain positive momentum
ARPU
Led by continued LTE subscribers growth, 1Q13 billing ARPU increased 4.4% YoY- LTE ARPU recorded KRW 48,400 in 1Q13,
44% higher than the billing ARPU
ARPU is expected to rise further as the higher ARPU LTE subscriber-base expands and data traffic increases
32.2
32.9 33.1
33.8 33.7
31.0
33.0
1Q12 2Q12 3Q12 4Q12 1Q13
↑4.4% YoYBilling ARPU(KRW „000)
1Q13 ARPU
comparison(KRW „000)
1. MNO – ARPU
48.4 41.2
33.7
10.0
30.0
50.0
LTE Smartphone Billing ARPU
17% 44%
ARPU1) (KRW) 1Q13 1Q12 YoY 1Q13 4Q12 QoQ
Total ARPU 40,450 39,136 1,314 40,450 41,171 (721)
Billing ARPU2)
33,668 32,245 1,423 33,668 33,761 (93)
1) Includes SK Planet's earnings
2) The billing ARPU excludes sign-up fee from mobile service revenues
1. MNO – Marketing expenses & CAPEX
Retention-based service paradigm shift to stabilize market
CAPEX expected to decrease approximately 26% YoY in 2013
Marketing expenses & CAPEX
Marketing expenses rose 25% YoY, and 20% QoQ due to the heated LTE market competition. As of mid-March, marketing intensity has cooled sharply
CAPEX decreased sharply following the completion of the nationwide LTE network rollout in FY12
725
960 1,035
754
907
24.1%31.3% 33.4%
23.9%29.1%
0.0%
50.0%
100.0%
150.0%
200.0%
-100 200 300 400 500 600 700 800 900
1,000 1,100
1Q12 2Q12 3Q12 4Q12 1Q13
Marketing expenses
% of revenues
424 555
708 867
322
58
61
80
105
29
1Q12 2Q12 3Q12 4Q12 1Q13
Non-network
Network
482616
788
972
351
Marketing
expenses(KRW bn)
CAPEX(KRW bn)
5
(KRW bn) 1Q13 1Q12 YoY 1Q13 4Q12 QoQ
Marketing expenses1)
907 725 181 907 754 153
% of revenues 29.1% 24.1% 5.0%p 29.1% 23.9% 5.3%p
Capital expenditures 351 482 (131) 351 972 (621)
% of revenues 11.3% 16.0% -4.8%p 11.3% 30.8% -19.5%p
1) Marketing expenses = marketing related commissions + advertising expense
6
2. Growth businesses – Overview
SK Telecom is at the forefront of new growth businesses
Leveraging core competencies - wide market presence, large subscriber-base, expertise in network management
Growth business domains & entities
B2B solution
Healthcare
50.56%100%
IPTVApp. Store
M-commerce
LBS
B2B solution- Actively pursuing opportunities in five major growing
segments ranging from solutions for small retailers to energy management for commercial building, to smart cloud solutions
Healthcare- Providing mobile solutions for individuals, patients,
hospitals, as well as remote diagnostic solutions
- Strong partnerships with Seoul National University Hospital, Seegen and NanoEnTek
Platform- Core businesses (T store, 11th Street and T map) recording
continued strong growth
- Merger with SK M&C expected to generate significant on/offline synergy
IPTV - Growing fixed IPTV („Btv‟) to be complemented by rising
mobile Btv subscribers
2. Growth businesses – B2B solutions business
Targeting B2B revenues of KRW 1.8 tn in 2013, up 26% YoY
Solutions segment to drive growth of B2B business
Smart Store
- Integrated sales, promotion, client management solutions and
POS device for franchise shops and small enterprises
Smart Work
- Industry-specific customized solutions as well as installment of
ICT infrastructure to enhance productivity, efficiency and
security
Smart Cloud
- Cloud solution based on mobile technology that offers the
highest in security standards and big data-related services
Green & Safety
- Solutions to increase energy efficiency and safety of
manufacturing facilities and commercial buildings
M-Ad & Payment
- Mobile advertising and payment solutions including coupons,
settlements, authentication and other value-added services
Five core solution businessesB2B solutions revenues
(KRW bn)
Solution as % of B2B revenues
7
270
528
1,500
19%
29%
50%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
-
200
400
600
800
1,000
1,200
1,400
1,600
2012 2013 (E) 2015 (E)
73%
48
83
10
30
50
70
90
110
130
150
1Q12 1Q13
Solution servicesIPTV subscribers & ARPU
Targeting fixed/mobile IPTV subscribers of 7m by 2015
Mobile IPTV to show strong growth as demand for mobility and convenience increase
Expanding IPTV market share with bundled services
- Bundled offering, a compelling reason for IPTV subscription
to 92% of IPTV subscribers (Dec. 2012, KCC)
- Targeting 7m subscribers by 2015
Robust IPTV revenue growth to continue
- Rising monthly fees and paid-content sales bolstered by
growing home-shopping commissions and advertisements
Mobile IPTV
- Paying subscribers now stand at 0.6m. Service launch in
Oct. 2012
- Expect to reach 2m subscribers by 2013
- Continuing to differentiate the service with exclusive mobile
broadcast rights for Major League Baseball and 1-hour
turnaround in screening of popular terrestrial-TV programs
2. Growth businesses – IPTV business
8
0.9
1.7 2.1
4.0 + α
7.0
14,125
15,424 15,629
10,000
11,000
12,000
13,000
14,000
15,000
16,000
17,000
18,000
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
2011 2012 1Q13 2013 (E) 2015 (E)
Subscribers (m)
ARPU (KRW)
ARPU excludes mobile IPTV
Targeting annual revenues of KRW 1.5tn in 2013
SK planet’s merger with SK M&C provides for an integrated on/offline marketing and big data opportunities, enhancing growth of commerce and content platforms
11st transaction volume
T store – registered users
SK planet revenues
Note: SK M&C merger reflected in 1Q13 and 2013(E) figures
(KRW tn)
2. Growth businesses – Platform business
9
0.240.30
-0.1
6E-16
0.1
0.2
0.3
0.4
0.5
0.6
0.7
1Q12 1Q13
1.03
1.54
0
0.2
0.4
0.6
0.8
1
1.2
1.4
1.6
1.8
2012 2013 (E)
13.615.2
17.118.8
19.8
0
5
10
15
20
25
1Q12 2Q12 3Q12 4Q12 1Q13
(m)
50%
1.08 1.11 1.11
1.27
1.11
4453
73
112
131
0
20
40
60
80
100
120
140
160
180
200
0
0.2
0.4
0.6
0.8
1
1.2
1.4
1Q12 2Q12 3Q12 4Q12 1Q13
Web + Mobile
Mobile (KRW bn)
(KRW tn)
10
2. Growth businesses – Data-centric era
SKT is leading the industry towards an age of true mobile broadband data and is transforming its businesses to maximize the new opportunities
“Data-centric era creates new business opportunities”
Rapid proliferation of LTE technology:
fixedmobile, voice data, one device multi devices
Data-centric era to spur growth of telco businesses and
create new business opportunities
LTE-A will broaden opportunities for new growth
“SKT is leading the paradigm shift”
Competitive paradigm
Retention focused management activities
Adopting data-centric price plan
Business model transformation
At the forefront of new growth businesses,
leveraging the large subscribers-base and
network management expertise
Combining ICT and connectivity with different
industries to widen business scope
11
3. Financial results – Consolidated Income Statement
Operating revenues increased YoY due to increased sales from expanding LTE subscribers and new businesses
Operating income decreased as a result of increased investments in FY12 and a rise in marketing expenses over the same period
Summary of Income Statement (Consolidated)
Operating revenues: SK Telecom (“SKT” or the
“Company”) recorded a 2% QoQ decrease due to
the seasonal effect from decreased days.
However, operating revenues grew 4% YoY, led
by the growth of LTE subscribers, new businesses
including B2B solutions, and the merger of SK
M&C with SK Planet
Operating income: Decreased 18% YoY due to
the increase in depreciation costs stemming from
SKT‟s network capital investment and a rise in
marketing expenses. EBITDA slid 1% YoY
Consolidated net income: Increased 15% YoY as
positive earnings from SK Hynix contributed KRW
33 bn to pre-tax profits
(KRW bn) 1Q13 1Q12 YoY 1Q13 4Q12 QoQ
Operating revenues 4,113 3,970 143 4,113 4,197 (85)
Operating expenses 3,702 3,470 232 3,702 3,653 49
Operating income 411 499 (89) 411 545 (134)
Operating margin 10.0% 12.6% -2.6%p 10.0% 13.0% -3.0%p
Net profit or loss from non-operating items 17 (104)
122 17 106 (88)
Income from continuing operations before income tax
428 395 33 428 650 (222)
Consolidated net income 346 300 46 346 519 (173)
Net margin 8.4% 7.6% 0.8%p 8.4% 12.4% -4.0%p
Majority interests 354 306
48 354 523 (169)
Minority interests(8) (6)
(2) (8) (4) (4)
EBITDA1) 1,093 1,108 (15) 1,093 1,248 (156)
EBITDA margin 26.6% 27.9% -1.3%p 26.6% 29.7% -3.2%p
1) EBITDA = Operating income + Depreciation (including R&D-related depreciation)
12
Operating expenses increased due to labor cost, commissions paid, advertising, depreciation, and COGS
Operating expenses (Consolidated)
3. Financial results – Consolidated operating expenses
Labor costs: Increased YoY due to the increase
in employees as a result of the SK M&C‟s
merger with SK Planet. This, coupled with the
seasonal New Year-bonuses contributed to the
QoQ increase
Commissions paid: Increased YoY mainly due
to the rise in SKT‟s marketing expenses. The
QoQ decrease resulted from reduction in
commissions of subsidiaries
Advertising: Decreased QoQ due to the base
effect of increased year-end advertisement in
4Q12
Depreciation: Increased YoY due to SKT‟s
increased network-related capital investment in
FY12. While decrease in depreciable assets led
to a QoQ decrease
Cost of goods sold: Increased on YoY and
QoQ basis due to the merger of SK M&C with
SK Planet
(KRW bn) 1Q13 1Q12 YoY 1Q13 4Q12 QoQ
Labor449 356
93 449 325
123
Commissions paid 1,451 1,415 36 1,451 1,470 (19)
Advertising 65 70 (5) 65 138 (73)
Depreciation1) 682 608 74 682 704 (22)
Network interconnection 253 296 (44) 253 201 51
Leased line 63 68 (4) 63 63 0
Frequency usage fees 50 51 (1) 50 52 (2)
Cost of goods sold 321 271 49 321 308 13
Others 369 336 33 369 392 (23)
Operating expenses 3,702 3,470 232 3,702 3,653 49
1) Includes R&D-related depreciation
13
Asset decreased due to debt repayment and a decrease in the number of consolidating subsidiary companies
Balance Sheet (Consolidated)
3. Financial results – Consolidated Balance Sheet
Assets Current assets: Decreased 9% YoY as SKT‟s
debt repayment reduced cash. Sale of Paxnet and SKY Property1) reduced current assets by 4% QoQ
Non-current assets: Decreased 3% YoY due to
the decrease in the number of consolidating
subsidiaries1)
1) Number of consolidating subsidiaries decreased (32→29) as a result
of the sale of Paxnet and SKY Property
Liabilities
Current liabilities: Decreased 4% YoY due to
the SKT‟s debt payment. The 2% QoQ rise was
due to the increase in dividends payable
Non-current liabilities: Decreased 11% YoY
due to the reduction in SKT‟s long-term debt.
The 3% QoQ increase resulted from SKT‟s
issuance of bonds
Shareholders’ equity
The 4% QoQ decrease resulted from SKT‟s
dividends payable allocation in 1Q13
(KRW bn) 1Q13 1Q12 YoY 1Q13 4Q12 QoQ
Total assets 25,409 26,547 (1,138) 25,409 25,596 (187)
Current assets 5,082 5,556 (474) 5,082 5,294 (213)
Cash & marketable securities 1,493 2,457 (964) 1,493 1,445 48
Non-current assets 20,327 20,991 (664) 20,327 20,301 26
Property & equipment 9,604 8,962 643 9,604 9,740 (136)
Intangible assets 4,390 4,681 (291) 4,390 4,434 (44)
Investment assets 5,809 6,160 (352) 5,809 5,586 222
Total liabilities 13,041 14,155 (1,114) 13,041 12,741 300
Current liabilities 6,287 6,583 (295) 6,287 6,175 112
Short-term borrowings 160 1,140 (980) 160 600 (440)
Current portion of long-term debt1) 910 607 303 910 893 17
Non-current liabilities 6,754 7,572 (818) 6,754 6,566 188
Bonds payable & long-term borrowings
5,750 6,315 (565) 5,750 5,348 402
Total shareholders' equity 12,368 12,392 (24) 12,368 12,855 (487)
Interest-bearing debt2) 6,670 7,917 (1,247) 6,670 6,684 (14)
Debt/Equity ratio3) 53.9% 63.9% -10.0%p 53.9% 52.0% 1.9%p
1) Includes current portion of long-term payables related to payment of frequency license fee
2) Interest-bearing debt = Short-term borrowings + Current portion of long-term debt + Bonds payable & long-term borrowings
3) Debt/Equity ratio = Interest-bearing debt / shareholders' equity
14
Operating revenues increased YoY due to increased LTE subscribers and sales from new businesses
Operating revenue declined QoQ due to a decrease in number of working days
Operating revenues (Non-consolidated)
3. Financial results – Non-consolidated operating revenues
1Q13 total operating revenues increased 3.5%
YoY, led by the growth of LTE subscribers and
increased new business-related sales including
B2B solutions. The 1.5% QoQ decrease was
due to the seasonal effect arising from reduced
days in February
- Interconnection: Decreased YoY resulting
from the adoption of lower interconnection
rates and reduced call volume. The QoQ
increase was due to the retroactive
adjustment of the new interconnection rates
in 4Q12
- New business & others: Increased YoY on
strong sales of B2B businesses. While the
QoQ decrease was due to the base effect of
B2B-related year-end sales increase in 4Q12
Operating Revenues(KRW bn)
2,621 2,666 2,689 2,782 2,727
254 264 252
166 210
132 138 157 211 175
2,000
2,500
3,000
1Q12 2Q12 3Q12 4Q12 1Q13
Mobile Service Revenue Interconnection New Business & Others
3,0073,069
3,0973,159
3,112
(KRW bn) 1Q13 1Q12 YoY 1Q13 4Q12 QoQ
Mobile service 2,727 2,621 106 2,727 2,782 (55)
Interconnection 210 254 (44) 210 166 44
New business & others1) 175 132 43 175 211 (36)
Total operating revenues 3,112 3,007 105 3,112 3,159 (47)
1) Includes sales from leased line, fixed-line resale, solution and other businesses
15
Consolidated Income Statement
Appendix
(KRW bn) 1Q12 2Q12 3Q12 4Q12 1Q13
Operating revenues 3,969.7 4,007.9 4,125.5 4,197.4 4,112.6
Operating expenses 3,470.4 3,592.3 3,824.8 3,652.8 3,702.0
Labor cost 355.5 292.9 309.4 325.5 448.6
Commissions paid 1,414.5 1,548.2 1,592.9 1,469.5 1,450.8
Advertising 69.9 99.7 92.8 137.7 64.9
Depreciation1) 608.3 607.5 659.1 703.7 681.9
Network interconnection 296.2 273.5 286.2 201.4 252.5
Leased line 67.5 65.4 68.5 63.2 63.4
Frequency usage fees 51.4 47.4 53.2 52.1 50.2
Cost of goods sold 271.4 299.3 418.5 307.9 320.7
Others 335.7 358.5 344.1 391.8 368.9
Operating income 499.3 415.6 300.7 544.6 410.6
EBITDA 1,107.6 1,023.1 959.8 1,248.3 1,092.6
EBITDA margin 27.9% 25.5% 23.3% 29.7% 26.6%
Non-operating items (104.4) (105.1) (105.4) 105.6 17.3
Interest income 32.4 24.9 22.2 20.5 17.6
Interest expense 97.0 102.4 102.9 110.0 89.2
Others, net (39.8) (27.5) (24.7) 195.1 88.9
Income from continuing operations before tax 394.9 310.5 195.3 650.2 427.9
Income (loss) from discontinued operations2) (9.9) (123.8) 0.1 (5.7) -
Consolidated net income 300.4 120.6 175.6 519.1 345.9
Majority interests 306.4 143.4 178.9 523.0 354.2
Minority interests (6.0) (22.8) (3.2) (3.9) (8.2)
1) Includes R&D-related depreciation
2) Losses from discontinuation of satellite DMB business
16
SK Telecom Non-consolidated Income Statement
Appendix
(KRW bn) 1Q12 2Q12 3Q12 4Q12 1Q13
Operating revenues 3,007.4 3,068.6 3,097.5 3,159.2 3,112.1
Operating expenses 2,524.8 2,675.3 2,847.9 2,609.3 2,692.0
Labor 174.8 123.6 118.6 115.0 205.3
Commissions paid 1,266.3 1,444.7 1,559.2 1,282.8 1,364.1
Marketing commissions 689.0 898.7 986.5 690.3 871.8
Other commissions 577.3 546.0 572.7 592.5 492.3
Advertising 36.2 61.7 48.3 63.6 34.7
Depreciation1) 427.1 427.4 467.4 513.2 503.6
Network interconnection 225.8 206.7 216.2 147.9 176.4
Leased line 56.5 55.5 57.2 58.2 53.8
Frequency usage fees 51.0 47.9 53.2 52.1 50.2
Others 287.2 307.8 327.8 376.6 303.9
Operating income 482.7 393.3 249.5 549.9 420.1
EBITDA 909.8 820.7 716.9 1,063.1 923.7
EBITDA margin 30.3% 26.7% 23.1% 33.7% 29.7%
Non-operating items (48.8) (97.6) (87.6) 105.4 (39.9)
Interest income 21.0 12.8 9.8 8.9 8.4
Interest expense 71.0 79.6 80.7 86.9 72.8
Others, net 1.2 (30.8) (16.7) 183.4 24.5
Income from continuing operations before tax 433.8 295.7 161.9 655.3 380.2
Net income 345.0 231.4 148.0 518.4 302.2
1) Includes R&D-related depreciation
17
Consolidated Balance Sheet
Appendix
(KRW bn) 1Q12 2Q12 3Q12 4Q12 1Q13
Total assets 26,546.9 25,773.4 26,057.9 25,595.6 25,408.8
Current assets 5,555.7 4,754.4 5,442.5 5,294.4 5,081.7
Cash and marketable securities1) 2,456.9 1,698.6 1,687.6 1,444.5 1,493.0
Accounts receivable 2,485.8 2,455.7 2,494.4 2,537.0 2,920.7
Short-term loans 96.8 86.4 91.6 84.9 93.3
Inventories 184.1 226.4 238.6 242.1 205.1
Other current assets 332.2 287.3 930.4 985.8 369.6
Non-current assets 20,991.2 21,018.9 20,615.3 20,301.1 20,327.2
Property & equipment 8,961.5 9,035.8 9,295.3 9,740.2 9,604.1
Intangible assets 4,681.1 4,574.3 4,479.4 4,434.1 4,389.9
Investment assets 6,160.2 6,150.2 5,721.3 5,586.3 5,808.6
Other non-current assets 1,188.3 1,258.6 1,119.3 540.5 524.5
Total liabilities 14,154.9 13,272.7 13,498.9 12,740.8 13,041.1
Current liabilities 6,582.6 5,322.3 5,311.7 6,174.9 6,287.1
Short-term borrowings 1,139.6 784.5 552.8 600.2 160.0
Accounts payable 1,720.6 1,671.3 1,726.1 2,124.9 1,966.5
Current portion of long-term debt 606.9 366.8 366.9 892.9 910.3
Other current liabilities 3,115.5 2,499.7 2,665.9 2,556.9 3,250.4
Non-current liabilities 7,572.3 7,950.5 8,187.2 6,565.9 6,754.0
Bonds payable & long-term borrowings 6,315.4 6,682.5 6,856.8 5,348.5 5,750.3
Long-term payables - other 710.3 710.7 713.6 715.5 565.6
Post-employment benefit obligation 93.1 102.3 117.2 86.5 102.3
Other non-current liabilities 453.4 454.9 499.6 415.4 335.8
Total shareholders' equity 12,392.0 12,500.6 12,558.9 12,854.8 12,367.7
Capital stock 44.6 44.6 44.6 44.6 44.6
Capital surplus 2,924.7 2,924.7 2,924.7 2,924.7 2,924.8
Retained earnings 11,359.3 11,501.0 11,610.8 12,124.7 11,890.3
Capital adjustments (3,215.4) (3,215.4) (3,215.4) (3,213.6) (3,276.8)
Other comprehensive income/loss2) 229.4 216.9 175.8 (25.6) 2.2
Minority interests 1,049.3 1,028.8 1,018.4 1,000.0 782.6
1) Cash & marketable securities includes cash & cash equivalent, marketable securities & short-term financial instruments
2) Other comprehensive income/loss include gains or losses on valuation of investment securities and derivatives
18
SK Telecom Non-consolidated Balance Sheet
Appendix
(KRW bn) 1Q12 2Q12 3Q12 4Q12 1Q13
Total assets 23,106.7 22,271.9 22,526.5 22,249.5 22,391.5
Current assets 3,615.3 2,590.2 3,187.6 2,589.7 2,765.8
Cash and marketable securities1) 1,488.7 546.4 544.0 445.9 631.3
Accounts receivable 1,814.8 1,755.8 1,769.9 1,790.3 1,871.3
Short-term loans 85.8 75.4 81.5 75.4 84.7
Inventories 3.2 14.4 13.8 16.0 10.5
Other current assets 222.8 198.2 778.5 262.1 168.0
Non-current assets 19,491.4 19,681.7 19,338.9 19,659.8 19,625.7
Property & equipment 6,057.2 6,280.6 6,550.3 7,119.1 7,043.8
Intangible assets 3,641.2 3,591.3 3,532.1 3,494.1 3,419.4
Investment assets 9,230.4 9,200.1 8,781.0 8,649.5 8,810.6
Other non-current assets 562.5 609.6 475.5 397.1 351.9
Total liabilities 11,411.6 10,366.2 10,542.4 9,872.5 10,326.9
Current liabilities 5,087.3 3,667.2 3,600.9 4,343.1 4,591.6
Short-term borrowings 500.0 200.0 - 330.0 40.0
Accounts payable 1,455.9 1,230.4 1,169.8 1,557.3 1,430.3
Current portion of long-term debt 568.1 331.2 333.9 713.1 710.4
Other current liabilities 2,563.3 1,905.6 2,097.2 1,742.7 2,410.9
Non-current liabilities 6,324.3 6,699.0 6,941.5 5,529.4 5,735.3
Bonds payable & long-term borrowings 5,086.7 5,447.8 5,632.2 4,340.4 4,764.4
Long-term payables 705.5 702.8 705.6 705.6 555.4
Post-employment benefit obligation 32.7 40.2 46.9 35.0 42.0
Other non-current liabilities 499.5 508.2 556.8 448.4 373.5
Total shareholders' equity 11,695.1 11,905.7 11,984.1 12,377.0 12,064.7
Capital stock 44.6 44.6 44.6 44.6 44.6
Capital surplus 2,920.9 2,920.9 2,920.9 2,920.9 2,920.9
Retained earnings 11,592.0 11,822.2 11,901.5 12,414.0 12,128.4
Capital adjustments (3,156.9) (3,157.1) (3,157.1) (3,157.1) (3,157.1)
Other comprehensive income/loss2) 294.5 275.0 274.1 154.6 127.8
1) Cash & marketable securities includes cash & cash equivalent, marketable securities and short-term financial instruments
2) Other comprehensive income/loss includes gains or losses on valuation of investment securities and derivatives