Samsung SDS Achieves Annual Record Revenue of 13.63 Trillion Won in 2021

[Asia Economy Reporter Seungjin Lee] Samsung SDS announced its preliminary results on the 27th, reporting sales of 13.63 trillion KRW and operating profit of 808.1 billion KRW for 2021. Sales increased by 24% compared to the previous year, achieving the highest annual sales.

By business sector, IT services sales recorded 5.6372 trillion KRW, up 6.1% from the previous year, while logistics sales reached 7.9928 trillion KRW, a 40.2% increase year-on-year, driven by rising air and maritime logistics freight rates and increased volume of home appliances and IT products.

In particular, Samsung SDS stated that external sales excluding affiliated companies increased by 36% year-on-year to 2.6029 trillion KRW.

External sales in the IT services business amounted to 1.1521 trillion KRW, up 19% year-on-year, supported by cloud migration and implementation, ERP business expansion, and SaaS business growth based on global partnerships.

External sales in the logistics business reached 1.4508 trillion KRW, a 52% increase year-on-year, due to increased cargo volume centered on high-tech and automotive parts industries.

Meanwhile, sales in the fourth quarter reached 3.9366 trillion KRW, achieving the highest quarterly sales, with operating profit recorded at 144.2 billion KRW.

Samsung SDS expects that although uncertain management conditions will continue this year, demand for IT investment and cloud adoption and migration by companies and institutions in response to the post-COVID era will increase.

To this end, Samsung SDS plans to accelerate its transformation into a cloud-native company by strengthening its MSP (Managed Service Provider) business, which provides all cloud-related services from cloud adoption consulting to infrastructure, application migration, development, implementation, and operation.

In the logistics sector, the company plans to expand its service areas to China, Southeast Asia, and other regions based on its digital logistics service Cello Square.