Samsung SDS Posts Record Q3 Revenue of 2.9682 Trillion KRW (Comprehensive)

Hong Won-pyo, CEO of Samsung SDS

[Asia Economy Reporter Bu Aeri] Samsung SDS recorded its highest-ever quarterly sales this year in the third quarter, driven by strong performance in the logistics business and a recovery in the IT services sector.

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.

Compared to the second quarter, sales increased by 15.6% and operating profit rose by 11.8%. Compared to the same period last year, sales grew 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, "There was a clear recovery as IT investments, which were delayed in the first half due to the COVID-19 pandemic, resumed."

▲ Expansion centered on IT strategic businesses 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% from the second quarter to 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, "We plan to actively expand businesses supporting customers' digital transformation in the IT services sector, including AI, high-performance cloud transition for research and development, intelligent manufacturing, and data analytics."

In the logistics sector, the company plans to expand business centered on advanced technology, parts, and e-commerce industries, and actively pursue new businesses including blockchain-based distribution history management services.

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