Monday, October 25th 2021

SK hynix Inc. Reports Third Quarter 2021 Results

SK hynix Inc. (or 'the Company', today announced financial results for its third quarter 2021 ended on September 30, 2021. The consolidated revenue of the third quarter 2021 was 11.805 trillion won, while the operating profit amounted to 4.172 trillion won and the net income 3.315 trillion won. Operating margin for the quarter was 35% and net margin was 28%.

SK hynix achieved record high quarterly revenue since its foundation, and regained operating profit more than 4 trillion won after two and a half years since the fourth quarter of 2018. The increased semiconductor memory demand for server and smartphone (mobile) applications, alongside the improved product prices, contributed to the Company's record-breaking quarterly revenue.
During last quarter SK hynix managed to increase the yield rate of its mainstream products including 1znm DRAM and 128-layer 4D NAND Flash, while expand their proportion among the Company's production volume. As a result, with enhanced cost competitiveness the Company's quarterly operating profit exceeded 4 trillion won. Notably, SK hynix's NAND Flash business has finally turned to a surplus in the third quarter.

Kevin (Jongwon) Noh, Executive Vice President and Head of Corporate Center (CFO) at SK hynix, said, "Despite the concerns over recent global supply chain disruptions, the remarkable quarterly performance signals that the semiconductor memory industry is continuing its growth momentum."

SK hynix forecasts market demand for semiconductor memory will grow consistently, and will react flexibly to market condition changes and focus on securing profitability.

At the same time, SK hynix expects to enhance the competitiveness of its NAND Flash business, which has recently turned to a surplus, with the completion of Intel NAND and SSD business acquisition until the end of this year.

"After the completion of the acquisition, SK hynix will establish complementary product portfolio which maximizes both companies' strengths, and seek to achieve economies of scale," Noh said. "For the future SK hynix will expand its R&D foothold and evolve into a global semiconductor memory leader."
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