Steep profit drop hits SK Telecom (NYSE: SKM) in preliminary 2025 results

Rhea-AI Filing Summary

SK Telecom reports preliminary Q4 2025 results showing mixed trends. On a consolidated basis, operating revenue was 43,287 (unit: 100 millions of Won), down 4.05% from Q4 2024 and full-year revenue was 170,992, down 4.69% year over year.

Consolidated operating income for Q4 was 1,191, rising sharply from 484 in Q3 2025 but falling 53.12% from 2,541 a year earlier; full-year operating income dropped 41.14% to 10,732. Profit for the period was 970 in Q4 and 3,751 for 2025, down 75.43% and 72.96% year over year, respectively.

Profit attributable to controlling interests was 1,125 in Q4 and 4,084 for 2025, declines of 61.30% and 67.33% versus 2024. Separate (parent-only) results show similar patterns, with Q4 2025 operating revenue of 30,837 and full-year 120,511, both slightly below 2024. These figures are prepared under IFRS as adopted in Korea and may change after the external audit.

Positive

• None.

Negative

• Sharp profit deterioration: Consolidated profit for the period fell to 970 in Q4 2025 and 3,751 for the year, declines of 75.43% and 72.96% compared with 2024, signaling materially weaker earnings despite only mid-single-digit revenue contraction.

Insights

Equity earnings analyst

Q4 2025 profit falls sharply year over year despite sequential recovery.

SK Telecom shows a complex picture in Q4 2025. Consolidated operating revenue of 43,287 (unit: 100 millions of Won) declined 4.05% versus Q4 2024, while full-year revenue of 170,992 fell 4.69%, indicating modest top-line contraction.

Profitability weakened more significantly. Q4 consolidated operating income of 1,191 was down 53.12% from 2,541 a year earlier, and full-year operating income dropped 41.14% to 10,732. Profit for the period fell even more, with Q4 at 970 and full-year at 3,751, declines of 75.43% and 72.96% year over year.

Separate (parent-only) results mirror this pattern, with Q4 profit for the period of 1,060 and full-year 4,108, down 62.91% and 67.92% versus 2024. These are preliminary figures under IFRS as adopted in Korea and may change after the external audit, so subsequent audited results will be important for confirming the scale of the profit compression.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF FEBRUARY 2026

Commission File Number: 333-04906

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

65, Euljiro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

Preliminary Results of Operations

• The preliminary results shown below may differ from the final results.

1. Basis: Consolidated

Classification (unit : in 100 millions of Won, %)

Current Period (Fourth quarter(1) of 2025)

Previous Period (Third quarter(2) of 2025)

Changes (%)

Year to Year Comparison (Fourth quarter(1) of 2024)

Changes (%)

Operating Revenue

Quarterly Results Year-to- date (“YTD”)(3) Results

43,287 170,992

39,781 N.A*

8.81 N.A*

45,115 179,406

(4.05) (4.69)

Operating Income

Quarterly Results YTD(3) Results

1,191 10,732

484 N.A*

145.96 N.A*

2,541 18,234

(53.12) (41.14)

Profit (Loss) from Continuing Operations Before Income Tax

Quarterly Results YTD(3) Results

1,378 7,223

(1,639) N.A*

N.A* N.A*

4,781 17,618

(71.17) (59.00)

Profit (Loss) for the Period

Quarterly Results YTD(3) Results

970 3,751

(1,667) N.A*

N.A* N.A*

3,948 13,871

(75.43) (72.96)

Attributable To: Controlling Interests

Quarterly Results YTD(3) Results

1,125 4,084

(1,582) N.A*

N.A* N.A*

2,909 12,502

(61.30) (67.33)

(1) Refers to the three-month period from October 1 to December 30 of a given year.

(2) Refers to the three-month period from July 1 to September 30 of a given year.

(3) Refers to the twelve-month period from January 1 to December 30 of a given year.

* Means “not applicable.”

2. Basis: Separate

Classification (unit : in 100 millions of Won, %)

Current Period (Fourth quarter(1) of 2025)

Previous Period (Third quarter(2) of 2025)

Changes (%)

Year to Year Comparison (Fourth quarter(1) of 2024)

Changes (%)

Operating Revenue

Quarterly Results YTD(3) Results

30,837 120,511

26,647 N.A*

15.72 N.A*

31,906 127,741

(3.35) (5.66)

Operating Income (Loss)

Quarterly Results YTD(3) Results

1,308 8,118

(522) N.A*

N.A* N.A*

1,793 15,232

(27.09) (46.70)

Profit (Loss) Before Income Tax

Quarterly Results YTD(3) Results

1,710 7,365

(2,305) N.A*

N.A* N.A*

2,328 14,771

(26.55) (50.14)

Profit (Loss) for the Period

Quarterly Results YTD(3) Results

1,060 4,108

(2,066) N.A*

N.A* N.A*

2,857 12,805

(62.91) (67.92)

(1) Refers to the three-month period from October 1 to December 30 of a given year.

(2) Refers to the three-month period from July 1 to September 30 of a given year.

(3) Refers to the twelve-month period from January 1 to December 30 of a given year.

* Means “not applicable.”

3. Source of Data		Data Provider		IR, SK Telecom
		Provided for		Analysts and Investors
		Date of Provision		February 5, 2026 / 4:00 p.m. (Seoul time)
		Location		2025 Annual Earnings Results Conference Call
		Organizing Team		IR, SK Telecom (+82-2-6100-2114)
4. Other Important Matters Relating to an Investment Decision		• The preliminary results set forth in this report have been prepared on a consolidated basis and separate basis in accordance with International Financial Reporting Standards as adopted in Korea and may be subject to change based on the results of the audit by the Company’s external auditor. • For further relevant materials, please refer to the Company’s IR website at: https://www.sktelecom.com/en/investor/lib/announce.do

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SK TELECOM CO., LTD.
(Registrant)
By:		/s/ Taehee Kim
(Signature)
Name:		Taehee Kim
Title:		Vice President

Date: February 5, 2026

FAQ

How did SK Telecom (SKM) perform on a consolidated basis in Q4 2025?

SK Telecom’s consolidated Q4 2025 operating revenue was 43,287 (unit: 100 millions of Won), down 4.05% year over year. Operating income was 1,191, a 53.12% decline from Q4 2024, while profit for the period fell 75.43% to 970, showing significant earnings pressure.

What were SK Telecom (SKM)’s full-year 2025 consolidated results?

For full-year 2025, consolidated operating revenue reached 170,992 (unit: 100 millions of Won), 4.69% lower than 2024. Consolidated operating income was 10,732, down 41.14%, and profit for the period dropped 72.96% to 3,751, indicating substantial profit compression versus the prior year.

How did SK Telecom’s separate (parent-only) results compare in Q4 2025?

On a separate basis, SK Telecom reported Q4 2025 operating revenue of 30,837 (unit: 100 millions of Won) and operating income of 1,308. Profit for the period was 1,060, representing a 62.91% decline versus Q4 2024, reflecting notable earnings weakness at the parent-company level.

What were SK Telecom (SKM)’s full-year 2025 separate results?

For 2025 on a separate basis, SK Telecom posted operating revenue of 120,511 and operating income of 8,118 (unit: 100 millions of Won). Profit for the period was 4,108, down 67.92% compared with 2024, showing that profitability declined sharply even on the parent-only accounts.

How did profit attributable to controlling interests change for SK Telecom in 2025?

Profit attributable to controlling interests in Q4 2025 was 1,125 (unit: 100 millions of Won), down 61.30% year over year. For full-year 2025, it totaled 4,084, a 67.33% decline from 2024, indicating that shareholders’ share of earnings fell markedly versus the prior year.

Are SK Telecom’s Q4 2025 and 2025 figures audited?

The Q4 2025 and full-year 2025 figures are preliminary, prepared under International Financial Reporting Standards as adopted in Korea. They may change based on the results of the audit by SK Telecom’s external auditor, so final audited numbers could differ from these preliminary disclosures.