SamsungElectroMechanics announced on the 28th that its preliminary consolidated third-quarter revenue for this year was 3.7633 trillion won, with operating profit at 691 billion won. Compared to the same period last year, revenue increased by 30.3% and operating profit by 165.5%.
The improvement in performance was also notable compared to the previous quarter. Revenue rose 8.9% from 3.4572 trillion won in the second quarter, while operating profit increased 56.9% from 440.4 billion won. Profitability improved significantly as the growth rate of operating profit exceeded that of revenue.
While actual revenue fell short of market expectations, operating profit exceeded the consensus estimate. According to financial information provider FnGuide Inc., SamsungElectroMechanics was expected to report revenue of 3.8264 trillion won and operating profit of 645.3 billion won.
The operating profit margin stood at 18.4%, up 9.4 percentage points from 9.0% in the third quarter of last year. It was also 5.7 percentage points higher than the previous quarter’s operating profit margin of 12.7%. This indicates that the company’s ability to generate profits has strengthened alongside its revenue growth.
Net income reached 485 billion won, a 115.7% increase year-over-year. Compared to the previous quarter, it rose by 47.7%.
Cumulative performance for the year has also improved significantly. SamsungElectroMechanics’ cumulative revenue for the first three quarters reached 10.4296 trillion won, a 24.0% increase compared to the same period last year. Cumulative operating profit for the same period rose 109.5% to 1.4119 trillion won. The company surpassed 1 trillion won in operating profit in just the first three quarters of this year.
SamsungElectroMechanics is scheduled to hold a third-quarter earnings briefing at 1:00 p.m. today to discuss specific results by business division and future business outlook.
