SK hynix Inc. today announced financial results for its fiscal year 2019 and fourth quarter ended on December 31, 2019. The consolidated revenue of fiscal year 2019 was KRW 26.99 trillion won while the operating profit amounted to 2.71 trillion won, and the net income 2.02 trillion won. Operating margin for the year was 10% and net margin was 7%.
In order to respond to changing market conditions, SK hynix proactively adjusted both investment and output level last year to maximize business management efficiency. However, amid increasing global economic uncertainty, the increase of inventory burden and conservative purchasing policies on the side of the customers led to a slowdown in demand as well as price falls. As a result, the Company's earnings decreased year-over-year (YoY).