1. SK D&D Q2 2025 Earnings Analysis: Focus on Core Business Growth

SK D&D reported significant improvement in Q2 2025, with operating revenue of KRW 228.2 billion (up 86.3% YoY), operating profit of KRW 40.7 billion, and net income of KRW 25.1 billion. Growth in sales from apartment presales was a key driver of the improved performance.

2. Business Portfolio Restructuring and New Business Expansion: Securing Future Growth Engines

Following the spin-off of its energy business, SK D&D is concentrating on real estate development and operations. The company is also making efforts to secure future growth engines by entering new businesses such as real estate e-commerce, electronic finance, and point mileage programs. The positive outlook for the Seoul office, hotel, and logistics center markets is expected to be a boon for SK D&D. Successful brand cases (Thinkfactory, Episode) are a good example of SK D&D’s ability to grasp market trends.

3. Financial soundness: Highlighting the Importance of Debt Management

SK D&D has total assets of KRW 1.6 trillion and total liabilities of KRW 994.5 billion, resulting in a debt-to-equity ratio of 164.24%. The debt ratio has slightly increased due to increased bond issuance, and debt management remains a crucial task in a rising interest rate environment.

4. Investment Strategy: A Balanced Approach is Necessary

SK D&D is a company with both growth potential and financial risk factors. Investors should consider core business growth, new business potential, debt ratio, and interest rate volatility comprehensively when making investment decisions. It’s crucial to carefully review the new business performance, financial soundness management plans, and interest rate fluctuation response strategies presented during the IR.