AI infrastructure and services specialist SNET Systems (co-CEOs Park Hyodae and Lee Namjak) announced on August 14 that it has disclosed its second-quarter results for this year.
According to its consolidated financial statements for the second quarter of this year, SNET Systems recorded sales of KRW 171.3 billion and operating profit of KRW 1 billion. Notably, operating profit increased by approximately 119% compared to the same period last year, marking a significant improvement in profitability.
The main factors behind this second-quarter performance were stable business operations centered on core existing clients and the winning of large-scale projects by its affiliates. Major projects contributing to the improved results included: ▲ stable business continuity with key domestic manufacturing clients; ▲ integrated maintenance operations in the commercial sector by affiliate Goodus Data; ▲ and the expansion of existing business with large domestic manufacturing clients by affiliate Goodus Smart Solution.
Additionally, given the industry's tendency for stronger performance in the second half of the year compared to the first half, both sales and operating profit are expected to grow year-on-year this year as well.
A representative from SNET Systems stated, "With Chairman Park Hyodae returning as CEO, we are completely overhauling our management strategy to focus on two pillars: strengthening profitability through 'value management' and fostering future businesses. We aim to secure a stable profit base by enhancing competitiveness in our existing NI business, while also focusing on securing future growth engines through investment in AI technology and talent development. Based on this clear two-pronged strategy, we will drive rapid change and deliver results."
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