SNET Systems Reports Cumulative Q3 Revenue of 266 Billion Won, Operating Profit Up 63% Year-on-Year
AI infrastructure and services specialist SNET Systems (Co-CEOs Park Hyodae and Lee Namjak) announced its third-quarter results for this year through a disclosure on November 14.
SNET Systems recorded a cumulative consolidated revenue of 266 billion won for the third quarter, with an operating loss of 900 million won. Notably, operating profit improved by approximately 63% compared to the same period last year, showing a clear recovery in the company's profit structure.
This third-quarter performance was also the result of maintaining stable revenue flows centered on major customer groups. SNET Systems achieved solid business results by steadily carrying out projects such as cloud network (SDN) expansion, information system maintenance, and infrastructure advancement in both the public and private sectors.
In addition, group-wide collaboration synergies contributed to the overall improvement in results, including Goodus’s projects in the manufacturing and medical sectors, Goodus Data’s expansion of technical services in the education sector, and Goodus Smart Solution’s contract wins for network construction in the manufacturing sector.
The company expects to maintain stable business momentum in the fourth quarter as well. There is growing anticipation for results, with a range of projects scheduled, including large-scale orders for public enterprises and infrastructure construction at key overseas manufacturing bases.
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A representative from SNET Systems stated, "This third-quarter improvement is the result of stable business operations combined with group-wide synergies," adding, "In the fourth quarter, we aim to further enhance profitability through the execution of scheduled large-scale projects focused on the public and manufacturing sectors, while also strengthening the competitiveness of our AI infrastructure business and expanding our services to drive future performance."
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