Execution time2024-01-25 17:24
Operating profit fell 12% to KRW 808.2 billion… Cloud business is booming
“This year, we will be looking for M&A opportunities more actively than before.”
SDS Samsung
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(Seoul = Yonhap News) Reporter Hong Guk-ki = Samsung SDS[018260]It announced on the 25th that its consolidated operating profit was provisionally calculated to be KRW 808.2 billion, down 11.8% from the previous year.
Sales fell 23.0% to KRW 13.2768 trillion compared to the previous year, and net profit fell 37.9% to KRW 701.3 billion.
Operating profit in the fourth quarter was KRW 214.5 billion, up 14.4% from the same period last year, but sales during the same period fell 20.5% to KRW 3.3771 trillion. Net profit fell 42.1% to 146 billion won.
By business area, the annual sales of the information technology (IT) service business was KRW 6.1058 trillion, thanks to the transformation and expansion of cloud business in the manufacturing, finance and public sectors and the establishment of the next generation resource management (ERP) and management system production (MES) growth of 2.3% compared to the previous year.
In particular, in the cloud business, the PDC (cloud service provision) business based on the ‘Samsung Cloud Platform’ (SCP) and the MSP (cloud operation and management) business which focuses on application modernization grew equally, growing 61.8% compared to the previous year and reaching annual sales of KRW 1 trillion. 880.7 billion won was achieved.
Samsung SDS will launch ‘FabriX’, a platform that accelerates the integration of productive artificial intelligence (AI) in cloud systems, in the first half of this year, and ‘Brity Copilot’, a solution that automates intellectual tasks, in the second half It is expected to be officially released in March.
On the other hand, sales in the logistics sector were recorded at KRW 7.171 trillion, down 36.4% from the previous year due to the impact of a decrease in cargo volume due to the ongoing global economic recession.
In addition, concerns have grown that the logistics supply chain will be disrupted as the armed pro-Iranian Houthi group, Yemen’s rebels, attacked ships sailing in the Red Sea late last year.
However, Samsung’s digital logistics platform SDS ‘Square Cello’ has evolved beyond simple logistics delivery into the axis of intelligent supply chain management, recording sales of 241 billion won in the fourth quarter, up 152% from the same last year’s period.
The number of customers signing up for the Cello Square platform has also surpassed 11,100 as it spreads globally, including in China, Southeast Asia, the United States and Europe.
“Cello Square’s sales last year were about KRW 560 billion, doubling from the previous year,” said Oh Gu-il, vice president and head of the logistics division, in a conference call announcing the results . “We set this year’s sales goal at KRW 1 trillion and start business in earnest.” “We plan to expand,” he explained.
He also predicted, “We will expand the scope of service to all global bases and expand the target of foreign companies focusing on service businesses that suit the characteristics of each industry,” and he predicted, “Profitability will improve this year as expand business scale. effect of reducing fixed costs.”
In addition, Samsung SDS confirmed the dividend plan at 2,700 won per share through a board of directors resolution on this day. The company explained that this is in line with its policy to set the three-year dividend payout ratio at 30% from 2022 to this year.
Seo Won-seok, IR (corporate information) team leader, said, “This year, we are looking for M&A (merger and acquisition) opportunities more actively than before.” He added, “Productive AI technology capabilities need to be ensured for the competitiveness of the Sqwâr y Soddgrwth platform.” emphasized.
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2024/01/25 17:24 Sent
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