Samsung SDS Q1 Operating Profit 194.3 Billion KRW... 29% Decrease YoY

by Choi Yuri

Published 27 Apr.2023 11:26(KST)

Samsung SDS announced on the 27th that it recorded sales of 3.4009 trillion KRW and an operating profit of 194.3 billion KRW in the first quarter. Sales decreased by 18.9% and operating profit fell by 29% compared to the same period last year.

Sales in the IT services sector amounted to 1.4699 trillion KRW, an increase of 1.2% compared to the same period last year. With increased sales from customized enterprise cloud and high-performance computing (HPC)-based services, the cloud business exceeded 400 billion KRW in quarterly sales for the first time.

Samsung SDS Q1 Operating Profit 194.3 Billion KRW... 29% Decrease YoY

In particular, the cloud service provider (CSP) business based on the Samsung Cloud Platform (SCP) grew by 36% year-on-year, and the managed service provider (MSP) business, focused on cloud operations and app modernization, grew by 143%.

Sales in the logistics sector amounted to 1.931 trillion KRW, down 29.5% year-on-year due to a decrease in global import-export cargo volume and freight rate declines.

Samsung SDS plans to continue expanding server equipment and investing in data centers to expand the ‘customized Samsung Cloud Platform (SCP)’ that provides an optimized cloud environment and the ‘all-in-one managed service (MSP)’ business for cloud migration.

In the logistics business, 5,300 customer companies subscribed to the digital logistics platform Cello Square in the first quarter of this year. To promote global expansion of the platform, the service area will be extended to North America and Europe.