According to industry sources on Tuesday, SK On posted fourth-quarter revenue of 1.4572 trillion won and an operating loss of 441.4 billion won. The loss widened by 251.7 billion won from an operating loss of 189.7 billion won a year earlier. Compared with a 124.8 billion won loss in the third quarter, the deficit expanded by more than 300 billion won.
Its operating margin was minus 30.3%, down 23.4 percentage points from minus 6.9% the previous quarter. For 2025, SK On reported revenue of 6.9782 trillion won and an operating loss of 931.9 billion won.
SK On cited a decline in advanced manufacturing production tax credits under the U.S. Inflation Reduction Act as a key factor behind the weak results. The AMPC benefit fell 71.8 billion won from the prior quarter to 101.3 billion won, weighing on fourth-quarter profitability.
The company also recorded a large asset impairment during a restructuring of BlueOval SK, its joint venture with Ford. SK On said, “This impairment temporarily increased the pretax loss, but it is a one-time adjustment that occurred in the process of reflecting asset values under accounting standards.”
SK On said it is continuing to prepare business expansion to secure steady growth drivers. It plans to broaden its energy storage system business and pursue new markets so its batteries can be used across industries, including humanoid robots.
* This article has been translated by AI.
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