Samsung SDS Sales Drop By 23% Due To Sluggish Logistics

Last year, Samsung SDS ‘ sales and operating profit appeared to have fallen behind. This is due to the sluggish logistics business in the aftermath of the global economic downturn. One consolation was that the cloud business was doing well.

Samsung SDS Sales Drop By 23% This Year.

Samsung SDS announced on the 25th that it recorded an operating profit of 808.2 billion won last year on a consolidated basis. Operating profit decreased by 11.8% compared to the previous year. Sales decreased by 23.0% compared to the previous year to KRW 13.2768 trillion.

Annual sales in the logistics sector were recorded at KRW 7.171 trillion, a 36.4% decrease from the previous year. Information technology (IT) service business sales increased 2.3% compared to the previous year.

Sales increased to KRW 6.1058 trillion thanks to the conversion and expansion of cloud business in the manufacturing, financial, and public sectors, and the establishment of a next-generation resource management system (ERP). The cloud sector also performed better than expected. The cloud operation and management (MSP) business grew, generating sales of KRW 1.8807 trillion, a 61.8% increase from the previous year.

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