Sk Hynix Inc. · KRX:000660
Sk Hynix — Q1 2025 Earnings Presentation
18 slides from Sk Hynix's earnings presentation, Apr 24, 2025
Slide 1: FY2025 Earnings
FY2025 Earnings 2025.04.24 | Investor Relations
Slide 2: Review of the FY2025 Q1 financial results has not been finalized
Review of the FY2025 Q1 financial results has not been finalized. Figures in this earnings release are subject to changes during the independent auditing process. All financial information contained in this document is based on consolidated K-IFRS. This material contains forward-looking statements w
Slide 3: Financial Results FY2025 Q1
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Slide 4: Revenue Analysis
Revenue Analysis FY2025 Q1 Revenue B/G High Single% ↓ QoQ KRW 17.64T ASP Flat QoQ -11% QoQ / +42% YoY FY2024 Q4 Revenue B/G High Teen% ↓ QoQ KRW 19.77T ASP Approx. 20% ↓ QoQ * Solidigm results are consolidated 4
Slide 5: Profit Analysis – Operating Profit
Profit Analysis – Operating Profit Operating Profit KRW 7.44T (QoQ -8% / YoY +158%) COGS 7,537 Achieved 2nd highest OP, even during mkt. correction Improved profit margin despite sequential reduction in OP (OP Margin 42%) SG&A D&A* 17,639 3,329 Demonstrates structural change in memory biz. due to AI
Slide 6: Profit Analysis – Net Profit
Profit Analysis – Net Profit Tax Non-operating Profit(Loss) KRW 1.86T Expense 1,191 1,859 Foreign currency related net gain KRW 0.12T Net Non- Other non-operating net gain KRW 1.74T, operating including valuation gain on Kioxia investment Profit 9,299 8,108 7,441 Net Profit KRW 8.11T Net profit marg
Slide 7: Financial Position
Financial Position ’24 Q1 ’24 Q4 ’25 Q1 Cash * KRW 10.32T KRW 14.16T KRW 14.31T Debt** KRW 29.51T KRW 22.68T KRW 23.33T 53% Debt-to-Equity 42% 33% 31% 29% Ratio ’24 Q1 ’24 Q2 ’24 Q3 ’24 Q4 ’25 Q1 35% Net Debt-to-Equity 26% 17% 12% 11% Ratio ’24 Q1 ’24 Q2 ’24 Q3 ’24 Q4 ’25 Q1 * Cash = Cash & Cash Equ
Slide 8: We Do Technology
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Slide 9: Market Outlook
Market Outlook Elevated macro uncertainties such as tariff policy creates volatility on 2H demand Nonetheless, the company will try to support customers’ needs seamlessly by tightening cooperation with partners within the supply chain Big Tech companies’ CapEx is expected to continue to capture Refr
Slide 10: Company Plan
Company Plan DRAM Q2 B/G: Low-teen% increase QoQ NAND Q2 B/G: More than 20% increase QoQ (incl. Solidigm) Started construction of 1st fab in Yong-in in Q1, scheduled to open in Q2’27 M15X fab on-track to open in Q4’25 While enhancing operation flexibility by preparing grounds for future growth in a
Slide 11: Maintain Yr. '25 demand growth outlook of 2x YoY
Maintain Yr. ‘25 demand growth outlook of 2x YoY Transition to HBM3E 12Hi is on schedule, maintain expectation on bit sales to crossover to HBM3E 12Hi from HBM3E 8Hi in 2Q’25 Shipped world’s first HBM4 12Hi samples to customers in March ’25, will be ready for mass production within ’25, in time for
Slide 12: We Do Technology
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Slide 13: Income Statement and Profitability
Income Statement (Unit : KRW Billion) Profitability ’25 Q1 ’24 Q4 ’24 Q1 Q/Q Y/Y ‘24 Q1 Q2 Q3 Q4 ‘25 Q1 Revenue 17,639 19,767 12,430 -11% +42% 57% 52% 52% Gross 46% Margin 39% Gross Profit 10,102 10,366 4,795 -3% +111% +5%p Operating Profit 7,441 8,083 2,886 -8% +158% 40% 41% 42% Operating 33% EBITD
Slide 14: Statement of Cash Flows and Net Cash Flow
Statement of Cash Flows (Unit : KRW Billion) Net Cash Flow (Unit : KRW Billion) ’25 Q1 ’24 Q4 ’24 Q1 F/X Effect 41 Beginning Cash Balance** 14,156 10,858 8,921 509 Financing Activities CF from Operating Activities 9,075 11,081 5,385 2,378 Changes in Working Capital, etc Net Profit (Loss) 8,108 8,006
Slide 15: Revenue by Product and Application
Revenue by Product (Unit : KRW Billion) Revenue by Application 19,767 DRAM 100% 24% 18% 50% PC Server Graphics(incl. HBM) 12,430 Consumer Mobile 0% '24 Q1 '24 Q4 '25 Q1 35% NAND 74% 80% 100% 61% 50% Others USB, Card & Others NAND Mobile DRAM SSD(incl. discrete NAND 0% for SSDs) '24 Q1 '24 Q4 '25 Q1
Slide 16: THE END
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Slide 17: [Attachment1] Statement of Financial Position
[Attachment1] Statement of Financial Position K-IFRS (KRW Billion) Q1'25 Q4'24 Q1'24 QoQ YoY Assets Current Assets 41,228 42,279 33,026 -1,051 +8,202 Cash & Cash Equivalents* 14,311 14,156 10,319 +155 +3,992 Accounts Receivables 10,629 13,019 7,179 -2,390 +3,450 Inventories 14,551 13,314 13,845 +1,2
Slide 18: [Attachment2] Income Statement
[Attachment2] Income Statement K-IFRS (KRW Billion) Q1'25 Q4'24 Q1'24 QoQ YoY Revenue 17,639 19,767 12,430 -11% +42% Cost of Goods Sold 7,537 9,401 7,635 -20% -1% Gross Profit 10,102 10,366 4,795 -3% +111% SG&A Expenses 2,661 2,283 1,909 +17% +39% Operating Profit 7,441 8,083 2,886 -8% +158% Net Fin