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Samsung Electro-Mechanics.

Samsung Electro-Mechanics 4Q 2020 results

Registration Date
2021.01.27

◇ 4Q sales of KRW 2.0864 trillion, operating income of KRW 252.7 billion
  - Increase in sales by 17%, operating income by 73% compared to same quarter of previous year (4Q 2019)
  ㆍIncrease in supply of high added value MLCC, package circuit boards, and OLED RFPCB
  - Decrease in sales by 6%, operating income by 18% compared to previous quarter (3Q 2020)
  ㆍDecrease in earnings due to year-end inventory adjustments and FX rates
 
◇ 2020 annual sales of KRW 8.2087 trillion, operating income of KRW 829.1 billion
  - Increase in sales by 6%, operating income by 12% compared to previous year (2019) 
 
For its 4Q performance on a consolidated basis, Samsung Electro-Mechanics revealed on the 27th that it recorded sales of KRW 2.0864 trillion and operating income of KRW 252.7 billion.
 
This is a KRW 297.7 billion increase in sales (17%) and KRW 106.8 billion increase in operating income (73%) compared to the same quarter of the previous year, and a KRW 142.5 billion decrease in sales (6%) and KRW 54.7 billion decrease in operating income (18%) compared to the previous quarter.
 
Compared to the same quarter of the previous year, Samsung Electro-Mechanics explained that it recorded earnings improvement as a result of sales increase in high added-value MLCC, package circuit board, and OLED RFPCB sales due to growth in the 5G telecommunication market, but saw a decrease compared to its previous quarter due to a decrease in demand as a result of year-end inventory adjustments and FX rates.
 
On the one hand, in 2020, it recorded sales of KRW 8.2087 trillion and operating income of KRW 829.1 billion, showing sales growth of 6% and operating income growth of 12% compared to the previous year.
( ※ 2019 performance: Sales of KRW 7.7183 trillion, operating income of KRW 740.9 billion)
 
[Performance by Quarter]                                                                        
(Unit: KRW 100mn)


Category

2020

QoQ

2019

YoY

4Q

3Q

4Q

Sales

20,864

22,289

6%↓

17,887

17%↑

Operating Income

2,527

3,074

18%↓

1,459

73%↑

Profit Before Tax

2,482

3,008

17%↓

1,554

60%↑

Net Income

2,025

2,302

12%↓

-226

Converted to surplus


□ Performance and forecast by business unit
 
Components Business: Despite an increase in China-bound smartphone and vehicle MLCC shipment volume, 4Q sales decreased QoQ by 2% and recorded KRW 964.5 billion due to FX rates.

This year, with an expected increase in untact-related component demand, as a result of growth in the 5G smartphone market as well as PC and servers, and growth in the automotive market, supply for high added-value products is expected to increase.
 
Modules Business: Due to a decrease in supply for flagship smartphone camera modules as a result of product off-seasonality, sales decreased QoQ by 29% and recorded KRW 564.0 billion.
 
With the trend for high-performing, slim camera modules, Samsung Electro-Mechanics plans to continue to secure distinct technological competitiveness through optical zoom and slim modules and expand sales by continuing to supply high spec smartphone products among entry-level products.
 
Circuit Boards Business: 4Q sales grew QoQ by 23% and recorded KRW 557.9 billion. Performance improved with the expansion of supply of mobile AP and CPU high added-value package circuit boards and OLED RFPCB.
 
This year, the Circuit Boards Business plans to improve profitability by expanding its supply of high added-value package circuit boards, including 5G, automotive, and thin plate CPU circuit boards, as a result of an increase in demand with the expected improvement in the semiconductor market.
 
[Performance by Business]
(Unit: KRW 100mn)


Category

2020

QoQ

2019

YoY

4Q

3Q

4Q

Components

9,645

9,831

2%↓

7,749

24%↑

Modules

5,640

7,938

29%↓

5,850

4%↓

Circuit Boards

5,579

4,520

23%↑

4,288

30%↑


 

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