Search results for Socar 2.0
Mobility
Socar posts 1.4 billion won Q1 operating profit, extends profit streak to seven quarters
Socar said on Wednesday it posted first-quarter revenue of 97.1 billion won and an operating profit of 1.4 billion won. Revenue fell 26.1 percent from a year earlier due to a strategic reduction in used-car sales volumes in its subscription and commerce business, but the company maintained profitability for a seventh straight quarter. Net loss widened to 8.8 billion won, citing higher financial and other costs.
Telecommunications & Media
Mobility platforms return to profitability amid intensifying margin battle
South Korea’s three mobility platforms improved profitability last year, led by Socar’s operating profit of 23.2 billion won and TMAP Mobility’s first annual net profit of 23.3 billion won. Kakao Mobility also raised profitability by close to 20 percent. The companies cut or reshuffled non-core operations and expanded data- and AI-based revenue models. Each is now focusing on core strengths, including car sharing, data expansion and physical AI and autonomous driving.
Mobility
Socar posts 13.2 billion won Q4 operating profit, up 345 percent year on year
Socar said on Tuesday it recorded fourth-quarter revenue of 128.7 billion won and operating profit of 13.2 billion won, with revenue up 5.1 percent from a year earlier and profit more than quadrupling. On a consolidated basis, it posted full-year revenue of 470.7 billion won and operating profit of 23.2 billion won, swinging to profit from an operating loss. It plans to strengthen car-sharing operations and apply AI across internal processes and customer touchpoints.
