Samsung SDS attained its highest quarterly sales ever in the third quarter thanks to the expansion of IT strategic business and logistics BPO business and steady growth in external business.
Samsung SDS’s consolidated sales reached 2.9 trillion won ($2.5 billion) in the third quarter of this year, up 11.7 percent from the same period last year, the highest ever, the company said on Oct. 27.
Compared to the second quarter, sales and operating profit went up by 15.6% and 11.8% respectively. Compared to the same period last year, sales increased 11.7 percent and operating profit rose 6.4 percent. Operating profit reached 219.8 billion won, up 6.4 percent from last year.
By business sector, sales in the logistics business grew rapidly, overtaking the IT service sector for the first time. Sales of logistics BPO business in the third quarter rose 31 percent on-quarter to 1.6 trillion won over the second quarter due to an increase in the volume of goods in the Samsung group, including TV and home appliances, and an expansion of foreign businesses.
Sales of its IT service business increased 1.1 percent to 1.3 trillion won in the third quarter over the second quarter.
An official of the company said that the recovery came as IT investment resumed after being delayed in the first half of the year due to the aftermath of the COVID-19 infection.
Noting that in the fourth quarter, companies' digital transformation and investment for post-COVID-19 responses will gradually expand, Samsung SDS said. "We plan to expand our customers' digital transformation support businesses such as high-performance cloud transformation for artificial intelligence (AI) and research and development, manufacturing intelligence, and data analysis."