Samsung Electronics Reports Q4 Operating Profit of 7.1 Trillion KRW, Down 34.26% YoY (Update)

[Asia Economy Reporter Dongwoo Lee] Samsung Electronics' annual operating profit for last year fell to the 20 trillion won level for the first time in three years. This is the lowest performance in four years since 2015.

Samsung Electronics announced on the 8th that its preliminary results for the fourth quarter of last year showed sales of 59 trillion won and operating profit of 7.1 trillion won.

Sales in the fourth quarter of last year decreased by 4.84% compared to the previous quarter (62.0035 trillion won) and by 0.46% compared to the same period last year (59.265 trillion won). Operating profit decreased by 8.74% compared to the previous quarter (7.7779 trillion won) and by 34.26% compared to the same period last year (10.8006 trillion won).

For the full year 2019, sales recorded 229.52 trillion won and operating profit 27.71 trillion won. This represents a decrease of 5.85% in sales (243.77 trillion won) and 52.95% in operating profit (58.89 trillion won) compared to 2018.

Although the fourth quarter sales slightly missed the average securities firms' forecast of 60.5 trillion won, operating profit exceeded the forecast (around 6.5 trillion won).

Meanwhile, the preliminary results are estimated based on the Korean International Financial Reporting Standards (IFRS). Although the settlement has not yet been completed, Samsung Electronics announces them for the convenience of investors.

This content was produced with the assistance of AI translation services.