[Edaily Reporter PARK MIN ] On the 2nd, IBK Investment & Securities projected that SamsungElectroMechanics(009150)would begin to firmly establish its lead in the high-end market and see a sustained improvement in earnings, driven by large-scale orders for multilayer ceramic capacitors (MLCCs) used in artificial intelligence (AI). The firm maintained its “Buy” investment rating and target price of 1.75 million won.

In a report published that day, IBK Investment & Securities analysts Kim Un-ho and Ko Hyuk-jin stated, “As investment in AI continues to expand, the need for high-capacity products to improve data transmission speeds is surging,” adding, “The announcement of this large-scale supply contract clearly reflects this market trend.”

SamsungElectroMechanics announced the previous day that it had signed a sales and supply contract for a wide variety of MLCCs for AI applications. The contract value is approximately 1.0722 trillion won, equivalent to 9.5% of last year’s revenue. The contract period is one year, from January 1, 2027, to December 31, 2027.

According to IBK Investment & Securities, the counterparty to this contract is believed to be a major supplier of graphics processing units (GPUs) and AI servers. The contract value of 1 trillion won accounts for 12.3% of SamsungElectroMechanics(009150) ’s projected annual MLCC revenue for 2027. Given that the annual purchase volume of key customers typically hovers around 500 billion won, this is considered an exceptionally large order.

Previously, SamsungElectroMechanics had signed a contract to supply two companies with a single product worth approximately 750 billion won in 2027. Including this additional contract, the company’s total 2027 MLCC sales secured from three customers are estimated to reach 1.75 trillion won.

IBK Investment & Securities predicted that the surge in demand for high-end MLCCs would lead to supply shortages and rising prices. The analysis suggests that as price increases for MLCCs—key components that stabilize current supply and eliminate noise in electronic circuits—accelerate, the improvement in profitability will also be significant.

Research analyst Kim Un-ho stated, “It is becoming increasingly likely that expanding demand for high-end products will lead to supply shortages and price hikes,” adding, “Consequently, the pace of improvement in operating profit margins is expected to be steeper than previously forecast and to exceed the previous peak (around 40 percent).”