Socar Posts Q3 Revenue KRW 111.8B, Operating Profit KRW 6.8B

Through its Q3 2025 earnings announcement, SoCar reported achieving an operating profit for five consecutive quarters, proving that its profit-centric growth strategy has successfully taken root. This is even more significant because, despite a 4.4% decrease in revenue to 111.8 billion won compared to the same period last year, operating profit surged by a remarkable 47% to 6.8 billion won, thanks to efficient vehicle operation and strong efforts to improve cost structure. Net profit also reached 1.6 billion won, improving by 36.9% year-on-year, clearly demonstrating a qualitative improvement in profitability. The key driver behind this performance improvement was the maximization of operational efficiency through vehicle supply adjustments and redeployment strategies. As a result, the vehicle utilization rate significantly increased from an average of 34.4% over the previous three years to 39.1%, and revenue per vehicle also rose by 6.9% from 1.63 million won to 1.71 million won, proving the efficiency of asset utilization. In addition to strengthening profitability, SoCar is also actively investing in expanding customer value and improving retention. Efforts such as reorganizing pricing plans and strengthening loyalty programs led to a net increase of approximately 47,000 users from August to September, receiving positive market response. Particularly, the Jeju region has established itself as a key hub driving SoCar's innovation. The 'Jeju SoCar Terminal', a 2,500㎡ facility built near Jeju International Airport, serves as a testbed for verifying future mobility technologies like V2X and bidirectional EV charging, going beyond simple rental and return. Through its 'SoCar Air' service linkage, it provides a seamless integrated travel experience from flight tickets to car-sharing, accounting for approximately 7% of short-term car-sharing revenue in Q3, and showing excellent performance with an average utilization rate of 67% and a gross profit margin exceeding 33%. Park Jae-wook, CEO of SoCar, emphasized that the 'SoCar 2.0' strategy, which maximizes the lifetime value (LTV) of vehicles and customers, has led to structural profit improvement. He expressed his ambition to further advance this strategy and enhance operational efficiency to solidify a system for maximizing profits.