Samsung Electro-Mechanics Reports Operating Profit of 1.1828 Trillion KRW Last Year, Down 20%

[Asia Economy Reporter Park Sun-mi] Samsung Electro-Mechanics recorded an operating profit of 1.1828 trillion KRW last year, down 20%.

On the 25th, Samsung Electro-Mechanics announced that in the fourth quarter, consolidated sales reached 1.9684 trillion KRW, and operating profit was 101.2 billion KRW. Compared to one year ago, sales decreased by 19% and operating profit decreased by 68%.

The decline in set demand and the seasonal off-season impact significantly reduced the supply of key products such as IT MLCC (Multilayer Ceramic Capacitors), camera modules, and BGA (Ball Grid Array for mobile package substrates).

For the full year 2022, sales amounted to 9.4246 trillion KRW, and operating profit was 1.1828 trillion KRW. Compared to the previous year, sales decreased by 3% and operating profit by 20%.

Samsung Electro-Mechanics stated that although uncertain business conditions will continue this year, it plans to focus on improving its business structure by expanding businesses related to growth markets such as automotive electronics and servers.