Samsung SDS Reports 11% Increase in Q3 Sales to 3.57 Trillion KRW... Cloud Business Grows 35%

Samsung SDS announced on the 30th that its consolidated sales for the third quarter of this year were preliminarily estimated at 3.5697 trillion KRW, an 11.3% increase compared to the same period last year. Operating profit for the same period rose 31.0% to 252.8 billion KRW.

In particular, sales in the IT services sector were recorded at 1.6296 trillion KRW, an 8% increase compared to the same period last year. Cloud business sales reached 637 billion KRW, up 35.3% year-on-year due to continuous demand growth. Within the cloud business, the Samsung Cloud Platform (SCP)-based CSP business is showing increasing sales driven by the expansion of subscription-based Graphics Processing Unit (GPU) services (GPUaaS) for High-Performance Computing (HPC) and generative Artificial Intelligence (AI).

Additionally, the Cloud Management Service (MSP) business secured contracts to build generative AI service platforms for corporate clients. Cloud migration and implementation services for the finance and manufacturing sectors, as well as cloud-based Enterprise Resource Planning (ERP) and Supply Chain Management (SCM) services, are also expanding. AI-based procurement supply chain management solutions are experiencing sales growth as well.

Sales in the logistics business segment were recorded at 1.9401 trillion KRW, a 14.2% increase compared to the same period last year. The digital logistics platform Cello Square posted sales of 320.3 billion KRW, a 112% increase year-on-year, and surpassed 17,900 subscribed customers. Going forward, the company plans to expand its business by segmenting strategies for maritime, air, and land logistics.

Meanwhile, at the 'REAL Summit 2024' held last September, Samsung SDS announced its commitment to realizing hyper-automation innovation in corporate operations through a GPU-centered AI cloud. The company aims to lead the market by advancing generative AI services such as the cloud platform FabriX and the collaboration solution Brity Copilot.