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Samsung SDS marks record-high sales in Q3

Samsung SDS headquarters building in Seoul (Samsung SDS)
Samsung SDS headquarters building in Seoul (Samsung SDS)

Samsung SDS, Samsung Group‘s IT service unit, announced the Tuesday that company’s sales marked an all-time high in the third quarter this year.

The sales of Samsung SDS during the July-September period reached 2.96 trillion won ($2.6 billion), up by 11.7 percent on-year, according to a regulatory filing posted Tuesday. Compared to the second quarter this year, the sales went up by 15.6 percent, the company added. 

The firm‘s operating profit during the three-month period reached 219.8 billion won, increased by 6.4 percent on-year.

Samsung SDS said the latest performance is largely contributable to the recovery of its Logistics Business Process Outsourcing unit. The logistics-focused unit‘s sales marked 1.63 trillion won, up by 31 percent compared to the previous quarter.

The sales of Samsung SDS’ IT unit reached 1.33 trillion won, an increase of 1.1 percent from the last quarter this year.

Samsung SDS said IT investments are currently recovering, and the company‘s sales in the fourth quarter will improve further based on that.

The company plans to expand services that use artificial intelligence, cloud and data analysis technologies, according to the company’s announcement.

The firm added its logistics business process outsourcing unit would introduce a blockchain-based logistics solution in the fourth quarter.

During the conference call, Samsung SDS also noted it currently has  cash reserves of more than 4 trillion won, which the company could invest in startups and its data center infrastructure. The company added it is reviewing options for merger and acquisition.

By Shim Woo-hyun (ws@heraldcorp.com)

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