Samsung SDS Reports Operating Profit of 871.6 Billion KRW Last Year, Down 12%

[Image source=Yonhap News]

[Asia Economy Reporter Kang Nahum] Samsung SDS announced on the 28th that its operating profit last year was 871.6 billion KRW, down 12% from the previous year.

Sales amounted to 11.0174 trillion KRW, an increase of 2.8% compared to the previous year.

In the fourth quarter of last year, sales and operating profit were 3.0465 trillion KRW and 283.8 billion KRW, respectively, representing a 9.5% increase and a 13% decrease compared to the same period last year.

By business sector, IT services sales recorded 1.3743 trillion KRW, up 3% from the third quarter, driven by expansion of external business such as cloud transition, next-generation ERP system construction, and introduction of collaboration and work automation solutions.

Logistics BPO business sales recorded 1.6723 trillion KRW, up 2.4% from the third quarter, due to increases in air and sea freight rates and year-end peak season cargo volume.

Samsung SDS expects that although uncertain management conditions will continue this year, IT investments by companies and institutions responding to the post-COVID-19 era will recover and digital transformation will accelerate.

In the IT services sector, Samsung SDS plans to expand its business focusing on ▲ digital transformation (DT) level diagnosis and consulting ▲ next-generation ERP and SCM management system construction and operation ▲ cloud transition ▲ smart factory construction ▲ next-generation endpoint security ▲ collaboration and work automation solutions.

In the logistics sector, the company plans to expand its business centered on high-tech, parts, distribution, and e-commerce industries, and actively promote blockchain-based distribution history management service business.

Meanwhile, Samsung SDS decided on a dividend of 2,400 KRW per share, the same as last year. The company stated, "Although net profit decreased, the decision was made considering that the performance decline was temporary due to COVID-19 and the stability of shareholder dividends."

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