Samsung SDS Announces Third-Quarter 2021 Financial Results
On October 27, Samsung SDS announced that it recorded revenue of KRW 3.3813 trillion and operating profit of KRW 222 billion in the third quarter of 2021. Both revenue and operating profit increased 13.9% and 1% YoY, respectively.
IT services revenue recorded KRW 1.3792 trillion, which is 3.3% YoY growth derived from business expansion in cloud service, ERP and smart factory implementation.
IT-platform based logistics business marked KRW 2.21 trillion, or 22.6% YoY growth, due to increase in volume of goods for IT devices, higher sea freight rates and external business expansion.
The revenue from logistics external business increased 54% from a year earlier to record KRW 381 billion as the service and regions of existing customers expanded. The external logistics revenue represents 19% of total logistics revenue in the third quarter.
Samsung SDS plans to push its business in IT services focusing on providing advanced enterprise cloud services, next-generation ERP and diversifying smart factory business sectors.
In the logistics sector, the company plans to preemptively provide logistics services in preparation for expected increase in cargo volume and expand its digital freight forwarding service with its Cello Square platform.
Third Quarter 2021 Results
|Operating Profit||222.0||224.7||- 1.2%||219.8||+1.0%|
(Unit: KRW in billion)