Samsung SDS Achieves Record High Sales Last Year of 13.63 Trillion Won
Samsung SDS, Last Year's Sales Up 24% Year-on-Year
Q4 Sales Reach 3.9366 Trillion Won, Highest Quarterly Record
[Asia Economy Reporter Park Sun-mi] Samsung SDS achieved its highest annual sales last year. However, operating profit for the year was tentatively reported to have slightly decreased.
Samsung SDS announced its preliminary results on the 27th, with sales of 13.63 trillion KRW and operating profit of 808.1 billion KRW for last year. Sales increased by 23.7% compared to the previous year, marking a record high, while operating profit decreased by 7.3% year-on-year. Net profit grew by 39.8% to 633.4 billion KRW.
By business sector, sales in the IT services business recorded 5.6372 trillion KRW, up 6.1% from the previous year, and logistics business sales rose 40.2% to 7.9928 trillion KRW due to increased air and maritime freight rates and higher volumes of home appliances and IT products. External sales excluding affiliates reached 2.6029 trillion KRW, up 36% year-on-year.
External sales in the IT services business increased 19% year-on-year to 1.1521 trillion KRW, supported by cloud migration and construction, enterprise resource planning (ERP), and expansion of software-as-a-service (SaaS) business based on global partnerships. External sales in the logistics business rose 52% year-on-year to 1.4508 trillion KRW, driven by increased volumes in high-tech and automotive parts sectors.
Looking at the fourth quarter alone, operating profit was 144.3 billion KRW, down 49.2% from the same period last year. Quarterly sales and net profit were 3.90366 trillion KRW and 110.8 billion KRW, respectively.
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Meanwhile, during the conference call on the same day, Samsung SDS stated that in December last year, to pursue a "Cloud First" strategy, it simplified its existing IT services business departments into two divisions: Cloud and Solutions. To actively expand external business, it integrated customer-facing organizations and established a Strategic Marketing Office.
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