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Photo = Samsung SDS |
[Alpha Biz= Reporter Kim Jisun] According to recent financial disclosures from the Financial Supervisory Service on the 2nd, Samsung SDS reported a third-quarter operating profit of 252.8 billion KRW, a 31.0% increase year-over-year. During the same period, sales rose by 11.3% to 3.5697 trillion KRW, while net profit grew by 5.2% to 185.8 billion KRW.
The surge in demand for cloud infrastructure fueled this revenue growth. The cloud division alone brought in 637 billion KRW in Q3, a sharp 35.3% increase from the same period last year. Samsung SDS’s role as a cloud service provider (CSP) on the Samsung Cloud Platform (SCP) saw high-performance computing (HPC) and GPU-as-a-Service (GPUaaS) subscriptions jump by 41%, driving significant revenue. Additionally, the company’s generative AI platform, FabriX, launched in May, and the collaboration solution Brity Copilot attracted over 100 corporate clients by August.
Logistics, another major revenue contributor, also performed well. Third-quarter logistics revenue rose 14.2% year-over-year to reach 1.9401 trillion KRW. Despite Samsung Electronics posting weaker-than-expected results, Samsung SDS managed to stay resilient, partly due to rising air freight rates and increased shipping volume.
Samsung’s digital logistics platform, Cello Square, posted a 112% revenue increase, reaching 320.3 billion KRW, with over 17,900 client companies. Market analysts forecast that Cello Square’s annual revenue could surpass 1.2 trillion KRW.
However, challenges loom. Falling maritime freight rates and declining shipping volume pose risks to the logistics sector. Additionally, Samsung Electronics’ recent performance struggles could impact future logistics demand for Samsung SDS.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
