Samsung SDS (018260) Q3 2024 earnings summary

Executive summary

• 3Q24 revenue reached 3,570 billion KRW, up 11.3% year-over-year and 6.0% sequentially.

• Operating profit rose 31.0% year-over-year to 253 billion KRW, with margin improving to 7.1%.

• Net income increased 5.2% year-over-year to 186 billion KRW, though down 2.5% sequentially.

Financial highlights

• Gross profit for 3Q24 was 516 billion KRW, up 16.7% year-over-year; gross margin at 14.5%.

• SG&A expenses rose 5.7% year-over-year but declined 5.6% sequentially.

• Non-operating gain dropped sharply to 2 billion KRW from 50 billion KRW a year ago.

• EBITDA for 3Q24 was 355 billion KRW, with a margin of 9.9%.

Outlook and guidance

• Forward-looking statements indicate expectations for continued business and financial performance, but acknowledge uncertainties that may impact actual results.