SK Telecom (NYSE: SKM) profit drops 73% as cyber incident hits

Rhea-AI Filing Summary

SK Telecom Co., Ltd. reports sharply weaker preliminary consolidated results. Operating revenue was 17,099,212,573 thousand Won, down 4.7% from 17,940,608,890 thousand Won. Operating income dropped 41.1% to 1,073,214,877 thousand Won, and profit for the period fell 73.0% to 375,084,339 thousand Won.

Total assets were 30,107,782,845 thousand Won and total shareholders’ equity 12,955,292,392 thousand Won, showing a relatively stable financial position. Management attributes the decline in sales and profits to a subsidiary divestiture, a decrease in wireless subscribers following a cyber security incident, and a customer appreciation package. These figures are preliminary and may change after audit and shareholder approval.

Positive

• None.

Negative

• Profit collapse: Profit for the period fell 73.0% year over year to 375,084,339 thousand Won, with operating income down 41.1%, reflecting substantial margin deterioration.
• Operational headwinds: Management links weaker results to a subsidiary divestiture, loss of wireless subscribers after a cyber security incident, and costs from a customer appreciation package.

Insights

Equity analyst

SK Telecom posts steep profit decline despite stable balance sheet.

SK Telecom reports preliminary consolidated results showing modest revenue pressure but a very large profit contraction. Operating revenue declined 4.7%, but operating income fell 41.1% and profit for the period dropped 73.0%, indicating significant margin compression.

The company cites three drivers: divesting a subsidiary, losing wireless subscribers after a cyber security incident, and offering a customer appreciation package. These factors suggest both structural changes to the business mix and near-term costs tied to customer retention and incident response.

Total assets of 30,107,782,845 thousand Won and shareholders’ equity of 12,955,292,392 thousand Won point to a solid capital base, but the sharp earnings decline is materially negative for near-term profitability. Future audited results and the general shareholders’ meeting approval will confirm the final impact on earnings and equity.

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 ☐

Changes of 15% or More in Revenue or Profit

  The preliminary results shown below may differ from the final results, which remain subject to audit by the external auditor of SK Telecom Co., Ltd. (the “Company”).
1. Basis: Consolidated
2. Details of Changes (in thousands of Won, except percentages)		Current Fiscal Year		Previous Fiscal Year		Amount Increased/ Decreased		Increase/Decrease Rate (%)
Operating Revenue		17,099,212,573		17,940,608,890		-841,396,317		-4.7
Operating Income		1,073,214,877		1,823,409,370		-750,194,493		-41.1
Profit from Continuing Operations Before Income Tax		722,261,465		1,761,764,869		-1,039,503,405		-59.0
Profit for the Period		375,084,339		1,387,095,020		-1,012,010,681		-73.0
3. Financial Position (in thousands of Won, except percentages)		Current Fiscal Year				Previous Fiscal Year
Total Assets		30,107,782,845				30,515,253,720
Total Liabilities		17,152,490,453				18,687,619,003
Total Shareholders’ Equity		12,955,292,392				11,827,634,718
Capital Stock		30,492,716				30,492,716
Capital impairment ratio (%) = [(Capital stock - total shareholders’ equity) / capital stock] × 100		—				—
4. Main Reasons for Changes in Revenue or Profit/Loss		• Decline in sales and profits due to subsidiary divestiture, decrease in wireless subscribers from cyber security incident, and implementation of customer appreciation package.
5. Date of the resolution by the Board of Directors		February 5, 2025
• Attendance of external directors		Present: 5 Absent : 0
• Attendance of audit committee member that is not an external director		—
6. Other important matters relating to an investment decision		• The preliminary results set forth in this report have been prepared on a consolidated basis in accordance with International Financial Reporting Standards as adopted in Korea. • The preliminary results set forth in this report may be subject to change based on the results of the audit by the Company’s external auditor and the approval at the general shareholders’ meeting.

2

Additional Disclosure
		Basis		Current Fiscal Year		Previous Fiscal Year
Equity attributable to the owners of the parent company (in thousands of Won)		Consolidated		12,863,103,161		11,698,628,020
Capital impairment ratio (%) = [(Capital stock - total shareholders’ equity˚) / capital stock] × 100 (˚ excluding non-controlling shareholders’ equity)		Consolidated		—		—
Operating Revenue (in thousands of Won)		Separate		12,051,067,840		12,774,059,826

3

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

4

FAQ

How did SK Telecom (SKM) revenue change in the latest preliminary results?

SK Telecom’s operating revenue decreased 4.7% year over year to 17,099,212,573 thousand Won. The prior year’s operating revenue was 17,940,608,890 thousand Won, indicating modest top-line pressure compared with much steeper declines in profitability.

How much did SK Telecom (SKM) profit decline year over year?

Profit for the period dropped 73.0% to 375,084,339 thousand Won. The previous fiscal year’s profit was 1,387,095,020 thousand Won, showing that earnings fell far more sharply than revenue and signaling significant margin compression.

What reasons does SK Telecom (SKM) give for lower revenue and profit?

Management attributes the decline to a subsidiary divestiture, fewer wireless subscribers after a cyber security incident, and a customer appreciation package. Together, these factors reduced sales and increased costs, driving the sharp year-over-year profit contraction.

What is SK Telecom’s (SKM) current financial position based on the filing?

Total assets were 30,107,782,845 thousand Won and total shareholders’ equity 12,955,292,392 thousand Won. These figures suggest a relatively stable balance sheet even as profitability weakened significantly over the same period.

Are SK Telecom’s (SKM) reported numbers final audited results?

No, these are preliminary consolidated results prepared under International Financial Reporting Standards as adopted in Korea. They may change after the external auditor’s review and approval at the general shareholders’ meeting.

Did SK Telecom’s (SKM) equity attributable to owners change meaningfully?

Equity attributable to the owners of the parent was 12,863,103,161 thousand Won, up from 11,698,628,020 thousand Won. This indicates higher attributable equity despite the sharp decline in profit for the period.