Financials SK Gas Co., Ltd.

Equities

A018670

KR7018670000

Oil & Gas Refining and Marketing

End-of-day quote Korea S.E. Other stock markets 08/07/2025			5-day change	1st Jan Change
2,88,000.00 ^KRW	+3.97%		+11.63%	+39.13%

27/06	Lotte SK Eneroot Starts Operations of Hydrogen Fuel Cell Power Plant in Ulsan	MT
23/06	Asia Energy Stocks Climb on Fears of Hormuz Strait Disruptions	DJ

Projected Income Statement: SK Gas Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	4,412	6,495	8,066	6,994	7,095	8,017	8,176	8,694
Change	-	47.19%	24.2%	-13.29%	1.44%	13%	1.98%	6.34%
EBITDA ¹	297.9	213.4	498.5	411.3	450.7	689	668.5	786
Change	-	-28.37%	133.63%	-17.49%	9.57%	52.89%	-2.98%	17.58%
EBIT ¹	190.2	105.4	390.6	303.7	287.5	452.7	472.3	578
Change	-	-44.59%	270.59%	-22.25%	-5.33%	57.46%	4.34%	22.37%
Interest Paid ²	-37,278	-40,416	-42,088	-77,758	-46,355	-64,667	-63,667	-57,000
Earnings before Tax (EBT) ¹	407.9	328.3	304.8	438	244.8	455.2	524.9	654
Change	-	-19.51%	-7.16%	43.7%	-44.12%	85.97%	15.32%	24.59%
Net income ¹	266.7	247.1	256.7	314.2	185.5	348.2	399.7	484
Change	-	-7.36%	3.89%	22.41%	-40.97%	87.71%	14.81%	21.08%
Announcement Date	09/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-

¹KRW in Billions²KRW in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	1,031	956.6	1,189	1,444	-	1,834	2,367	1,907	1,841	1,951	2,150	1,494	1,720	1,630	1,726	1,651	1,734	1,983	1,827	2,094	2,041	1,984
Change	-	-7.23%	24.32%	21.44%	-	-	29.02%	-19.44%	-3.41%	5.96%	10.17%	-30.5%	15.13%	-5.24%	5.89%	-4.31%	4.99%	14.4%	-7.89%	14.61%	-2.51%	-2.8%
EBITDA ¹	82.69	77.07	62.87	-	-	-	-	-	-	-	-	105.8	-	-	-	-	-	-	-	163	161	158
Change	-	-6.8%	-18.43%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.23%	-1.86%
EBIT ¹	55.75	50.21	-2.067	37.62	-	-12.36	105.7	56.96	65.88	162	207.8	66.78	57.66	-28.57	74.62	46.95	43.01	122.9	112.9	107	108	136.5
Change	-	-9.93%	-104.12%	1,919.97%	-	-	955.24%	-46.13%	15.66%	145.85%	28.29%	-67.86%	-13.66%	-149.55%	361.17%	-37.09%	-8.38%	185.73%	-8.13%	-5.23%	0.93%	26.39%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-15,888	-1,60,890	-	-57,276	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	-	63.28	77.19	-	13.04	184.8	16.84	-47.52	150.7	222.5	12.06	168.1	55.29	34.95	51.68	88.6	62.59	106.8	72.9	77.1	57.1
Change	-	-	-	21.99%	-	-	1,317.5%	-90.89%	-382.15%	417.16%	47.62%	-94.58%	1,293.54%	-67.12%	-36.78%	47.86%	71.43%	-29.35%	70.58%	-31.72%	5.76%	-25.94%
Net income ¹	90.5	71.57	8.093	56.29	72.11	5.757	142.8	11.81	-37.5	139.6	171.1	2.506	125.4	30.47	20.29	31.64	73.54	53.06	87.53	57.3	59.7	45.5
Change	-	-20.92%	-88.69%	595.58%	28.1%	-92.02%	2,379.95%	-91.73%	-417.6%	472.33%	22.55%	-98.54%	4,905.95%	-75.71%	-33.4%	55.95%	132.4%	-27.85%	64.95%	-34.54%	4.19%	-23.79%
Announcement Date	04/08/20	03/11/20	09/02/21	03/05/21	15/11/21	08/02/22	09/05/22	02/08/22	01/11/22	07/02/23	03/05/23	31/07/23	03/11/23	06/02/24	29/04/24	02/08/24	01/11/24	04/02/25	09/05/25	-	-	-

¹KRW in Billions

Estimates

Forecast Balance Sheet: SK Gas Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	929	1,033	2,152	2,273	3,174	2,470	1,966	1,897
Change	-	11.19%	108.33%	5.62%	39.64%	-22.18%	-20.4%	-3.51%
Announcement Date	09/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-

¹KRW in Billions

Estimates

Cash Flow Forecast: SK Gas Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	78.56	190.6	508.8	570.7	351.1	360	368	400
Change	-	142.68%	166.85%	12.18%	-38.48%	2.53%	2.22%	8.7%
Free Cash Flow (FCF) ¹	1,49,918	-5,79,660	-3,68,695	46,490	22,220	2,43,000	2,89,250	3,19,000
Change	-	-486.65%	36.39%	112.61%	-52.21%	993.62%	19.03%	10.29%
Announcement Date	09/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-

¹KRW in Million

Estimates

Forecast Financial Ratios: SK Gas Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	6.75%	3.29%	6.18%	5.88%	6.35%	8.59%	8.18%	9.04%
EBIT Margin (%)	4.31%	1.62%	4.84%	4.34%	4.05%	5.65%	5.78%	6.65%
EBT Margin (%)	9.25%	5.06%	3.78%	6.26%	3.45%	5.68%	6.42%	7.52%
Net margin (%)	6.04%	3.8%	3.18%	4.49%	2.61%	4.34%	4.89%	5.57%
FCF margin (%)	3,397.71%	-8,925.38%	-4,570.88%	664.72%	313.19%	3,030.96%	3,537.92%	3,669.2%
FCF / Net Income (%)	56,214.74%	-2,34,611.83%	-1,43,634.36%	14,795.23%	11,979.27%	69,794.16%	72,360.74%	65,909.09%
Profitability
ROA	6.22%	5.18%	4.69%	5.31%	2.63%	4.9%	5.42%	6.2%
ROE	14.99%	12.31%	11.53%	12.75%	6.74%	12.47%	12%	13.5%
Financial Health
Leverage (Debt/EBITDA)	3.12x	4.84x	4.32x	5.53x	7.04x	3.58x	2.94x	2.41x
Debt / Free cash flow	0.01x	-0x	-0.01x	0.05x	0.14x	0.01x	0.01x	0.01x
Capital Intensity
CAPEX / Current Assets (%)	1.78%	2.94%	6.31%	8.16%	4.95%	4.49%	4.5%	4.6%
CAPEX / EBITDA (%)	26.37%	89.35%	102.05%	138.76%	77.91%	52.25%	55.05%	50.89%
CAPEX / FCF (%)	0.05%	-0.03%	-0.14%	1.23%	1.58%	0.15%	0.13%	0.13%
Items per share
Cash flow per share ¹	25,551	-43,218	15,559	68,497	41,352	69,310	66,293	-
Change	-	-269.14%	136%	340.25%	-39.63%	67.61%	-4.35%	-
Dividend per Share ¹	4,000	5,100	5,500	8,000	8,000	8,750	9,875	14,000
Change	-	27.5%	7.84%	45.45%	0%	9.38%	12.86%	41.77%
Book Value Per Share ¹	2,12,507	2,35,231	2,53,611	2,79,632	2,95,658	3,28,517	3,55,410	4,08,723
Change	-	10.69%	7.81%	10.26%	5.73%	11.11%	8.19%	15%
EPS ¹	29,674	27,692	28,559	35,101	19,841	37,717	43,302	52,449
Change	-	-6.68%	3.13%	22.91%	-43.47%	90.09%	14.81%	21.12%
Nbr of stocks (in thousands)	8,975	8,975	8,975	8,975	8,975	8,990	8,990	8,990
Announcement Date	09/02/21	08/02/22	07/02/23	06/02/24	04/02/25	-	-	-