Samsung SDS posts record-high annual sales

By Kim Hyun-bin

Samsung SDS recorded preliminary sales of 17.23 trillion won ($13.98 billion) and an operating profit of 916.1 billion won last year, up by 26 percent and 13.4 percent, respectively, compared to the previous year, according to the company filings, Thursday.

The annual sales of the IT service business increased by 5.9 percent from the previous year, reaching a record 5.96 trillion won due to the expansion of cloud computing in the manufacturing, finance, and public sectors and the implementation of next-generation enterprise resource planning (ERP) conversion consulting./

Samsung SDS headquarters in Seoul / Courtesy of Samsung SDS

Sales in the cloud business division accounted for 1.16 trillion won, an increase of 33.4 percent compared to the previous year, backed by strong growth of the cloud service provider (CSP) based on Samsung Cloud Platform (SCP) and the Managed Service Provider (MSP) which are centered on application modernization.

Logistics business sales increased by 41 percent compared to the previous year, recording 11.26 trillion won due to increased air cargo volume and the expansion of logistics services in the Americas and Europe.

Samsung SDS plans to actively pursue global business this year putting an emphasis on cloud services and digital logistics. In the IT service unit, various products are added to SCP and global regions have been expanded. The logistics unit plans to expand its service area to the U.S. and Europe.

In addition, Samsung SDS decided to provide shareholders with dividend payments of 3,200 won per share, a 33 percent increase from last year's 2,400 won.