SK innovation: More Battery Order Wins Expected

Business Korea | May 14, 2021 at 2:27 AM
  • The author is an analyst of KB Securities.
  • Refining saw revenue drop 26.9% YoY to KRW5.88tn but OP entered positive territory YoY at KRW416.1bn (OPM 7.1%) thanks to increased inventory gains as a result of hikes in global oil prices as well as refining margin improvements.
  • The rise in battery order backlog seen in 1Q21 should continue as SK innovation wins more orders down the road, giving way to a boost in Battery EV.