Samsung SDS Achieves Record Highest Q3 Sales... Surprise Appearance by Hong Won-pyo "Pursuing Strategic Investments"

Hong Won-pyo, CEO of Samsung SDS

[Asia Economy Reporter Buaeri] Samsung SDS recorded its highest-ever sales in the third quarter, with CEO Hong Won-pyo making a surprise appearance on the conference call. This was the first time CEO Hong spoke directly during a conference call.

On the 27th, during the conference call, CEO Hong stated, "Despite the challenging environment, our external business has shown steady growth, and thanks to the recovery of the IT strategic business and increased logistics sales, we have achieved the highest quarterly sales ever," adding, "We will actively pursue business structure reforms and strategic investments to lead digital transformation."

Samsung SDS achieved sales of 2.9682 trillion KRW and an operating profit of 219.8 billion KRW in the third quarter. This marks the highest quarterly sales in history. 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 amounted to 1.3347 trillion KRW, a 1.1% increase from the second quarter. Logistics BPO (Business Process Outsourcing) sales rose 31% from the second quarter to 1.6335 trillion KRW, driven by increased volume in TVs, home appliances, and expansion of external business.

CEO Hong explained, "Above all, companies have actively embraced digital transformation to survive in the new normal era," adding, "We are connecting these changes to new business opportunities and enhancing our status as an 'executor of digital transformation.'"

At this occasion, CEO Hong also outlined future plans. He stated, "For mid- to long-term growth toward 2025, we have selected two pillars of growth based on Samsung SDS's industry expertise and integrated offering capabilities: the 'system integration business' leading customers' digital transformation and the 'platform-based business' centered on core digital technologies."

Regarding the approximately 4 trillion KRW in cash and deposits currently held, Samsung SDS revealed that it is reviewing facility investments such as expanding servers for the cloud business division and constructing new data centers. The company is also actively considering mergers and acquisitions (M&A) investments in new technology startups. Additionally, the company noted that it recently established a venture investment fund worth 30 billion KRW.

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