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Samsung Electro-Mechanics.

Samsung Electro-Mechanics, 1Q 2021 Earnings

Registration Date
2021.04.28

◇ Revenue KRW 2.3719 trillion, operating income KRW 331.5 billion
  - Revenue 11%, operating income 99% increase compared to same quarter of previous year (1Q 2020)
  - Revenue 14%, Operating income 31% increase compared to previous quarter (4Q 2020)
   · Improved profitability through increase in high added-value product sales, including small, high capacity MLCC, semiconductor package circuit boards
 
◇ Secured stable supply capacities in preparation for core market recoveries, including IT and automotive
 
For 1Q, Samsung Electro-Mechanics announced on the 28th that it recorded revenue of KRW 2.3719 trillion and operating income of KRW 331.5 billion on a consolidated basis.
Compared to the same quarter of the previous year, revenue increased by KRW 238.6 billion (11%) and operating income by KRW 165.2 billion (99%), and compared to the previous quarter, revenue increased by KRW 285.5 billion (14%) and operating income by KRW 78.8 billion (31%).
 
With an increase in demand for online services, Samsung Electro-Mechanics recorded increase in sales for high added-value products, including small, high capacity IT MLCC and semiconductor package circuit boards, resulting in a significant increase in operating income, and with the recovery of the automotive market, an increase in the supply of automotive MLCC and high-spec camera modules for strategic accounts backed up its overall earnings.
 
This year, demand recovery of smart phones, PC, and other IT devices is expected to continue, and the automotive market is also expected to improve. In order to respond to the growing market demand, for MLCC and high-performance semiconductor package circuit boards, Samsung Electro-Mechanics is planning to secure stable supply capabilities while also expand sales of high-spec camera module sales as it continues to maintain its growth.
 
[Earnings by Quarter]

(Unit: KRW 100M)


Category

2021

2020

QoQ

2020

YoY

1Q

4Q

1Q

Revenue

23,719

20,864

14%↑

21,333

11%↑

Operating income

3,315

2,527

31%↑

1,663

99%↑

Profit Before Tax

3,338

2,482

34%↑

1,561

114%↑

Net Income

2,332

2,025

15%↑

1,321

77%↑

 

□ Earnings and Forecast by Business Unit
 
The components business achieved revenue of KRW 1.884 trillion, which is an increase of 27% compared to the same quarter of the previous year and 13% compared to the previous quarter, as a result of an increase in product supply with the expansion of IT MLCC sales and recovery of automotive demand.
In 2Q, the demand for IT and automotive market demand is expected to continue, and the company plans to proactively respond to market demand by improving productivity, improving manufacturing efficiency, and expanding its supply capabilities.
 
The modules business recorded revenue of KRW 841.3 billion, which is an increase of 49% compared to 1Q with supply expansion for camera modules for strategic accounts, but a decrease of 6% compared to the same quarter of the previous year with advanced supply for modules as a result of early releases of flagship new products.
In 2Q, demand for camera modules is expected to decrease due to seasonality, but the company plans to diversify its Chinese trade accounts and expand supply of high-spec smartphone camera modules.
 
The circuit boards business recorded 1Q revenue of KRW 442.2 billion, which is a 21% decrease compared to the previous quarter due to seasonal decrease in demand for OLED RFPCB, but a 15% increase compared to the same quarter of the previous year with an increase in mobile AP and PC CPU package circuit boards supply.
In 2Q, it expects demand for high performance semiconductor package circuit boards to increase with the expansion of 5G and growth in the PC market. Samsung Electro-Mechanics plans to increase profitability by expanding its production capabilities focusing on high added-value products.
 
[Revenue by Business]       

(Unit: KRW 100M)


Category

2021

2020

QoQ

2020

YoY

1Q

4Q

1Q

Components

10,884

9,645

13%↑

8,576

27%↑

Modules

8,413

5,640

49%↑

8,920

6%↓

Circuit boards

4,422

5,579

21%↓

3,837

15%↑

 

 

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