Samsung SDS Reports 2022 Financial Results

+ Exceeds KRW 1 trillion in the cloud business
+ Revenue reaches KRW 17.2347 trillion, marking 26% yearly growth
+ 2022 4Q financial results recorded KRW 4.25 trillion in revenue and KRW 187.5 billion in operating profit

On January 26, Samsung SDS announced its full-year 2022 financial results with the revenue of KRW 17.2347 trillion and the operating profit of KRW 916.1 billion. The company achieved highest annual revenue with 26% yearly growth.

The financial results of the fourth quarter of 2022 recorded KRW 4.25 trillion in revenue and KRW 187.5 billion in operating profit.

The annual revenue of IT Services increased by 5.9% from last year to KRW 5.9682 trillion thanks to cloud business expansion in manufacturing, finance and public sectors and consulting projects on next-generation ERP conversion.

The cloud business in particular achieved annual revenue of KRW 1.1627 trillion as both CSP* business based on its Samsung Cloud Platform (SCP) and MSP* business centered on app modernization grew.
* CSP(Cloud Service Provider): Vendor that offers cloud-based infrastructure and platform services
* MSP(Managed Service Provider): Vendor that provides consulting, migration, deployment and operation services in cloud

The logistics services recorded KRW 11.2666 trillion in revenue, which is 41% yearly growth, due to increase in air cargo volume and service expansion in the United States and Europe.

Samsung SDS plans to actively promote its global business centered on “Cloud” and “Digital Logistics” amidst persistent economic downturn.

The company will strengthen its cloud business by providing more SCP services and further expanding its global regions. It will also stretch out its logistics service coverage to the United States and Europe focusing on the Cello Square services.

On the same day, Samsung SDS board of directors declared annual dividend increase from KRW 2,400 to KRW 3,200 per share, a 33% YoY increase. Moreover, the company announced a dividend policy of setting the three-year dividend payout ratio to 30% from year 2022 to 2024.