Samsung SDS Reports 3Q Operating Profit of 219.8 Billion KRW, Up 6.4% YoY

Photo by Hong Won-pyo, CEO of Samsung SDS

[Asia Economy Reporter Bu Aeri] Samsung SDS announced on the 27th that it achieved sales of 2.9682 trillion KRW and an operating profit of 219.8 billion KRW in the third quarter. This is the highest quarterly sales ever recorded.

Compared to the second quarter, sales increased by 15.6% and operating profit by 11.8%. Compared to the same period last year, sales rose by 11.7% and operating profit by 6.4%.

Looking at performance by business sector, IT services sales were recorded at 1.3347 trillion KRW, a 1.1% increase from the second quarter. The company explained, "IT investments that were delayed in the first half due to the novel coronavirus disease (COVID-19) resumed, showing a clear recovery trend."

In particular, business expansion centered on IT strategic projects such as ▲cloud transition focused on manufacturing and financial industries ▲digital innovation of corporate management systems ▲smart factory construction ▲implementation of non-face-to-face work environments based on work automation and collaboration solutions drove growth.

Logistics BPO (Business Process Outsourcing) business sales increased by 31% compared to the second quarter, reaching 1.6335 trillion KRW, due to increased cargo volume of TVs, home appliances, and expansion of external business.

Samsung SDS expects that in the fourth quarter, corporate digital transformation and investments in response to the post-COVID era will gradually expand.

Samsung SDS stated, "In the IT services sector, we plan to actively expand businesses supporting customers' digital transformation such as artificial intelligence (AI), high-performance cloud transition for research and development, manufacturing intelligence, and data analysis."

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