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Samsung Electro-Mechanics 4Q 2021 Earnings

▶Revenue of KRW 2.4299 trillion and operating income of KRW 316.2 billion in Q4
- 30% increase in revenue and 21% increase in operating income compared to the corresponding period of last fiscal year (Q4 2020)
  · Expanded supply of high value-added MLCCs, package substrates, and high-performance camera modules
▶Revenue of KRW 9.675 trillion and operating income of KRW 1.4869 trillion in 2021
- 25% increase in revenue and 63% increase in operating income compared to the previous year (2020)
- In 2022, the company will maintain the growth trend by responding to growing markets such as 5G, big data, and electric vehicles


 Samsung Electro-Mechanics announced on January 26 that it posted revenue of KRW 2.4299 trillion and operating income of KRW 316.2 billion on a consolidated basis in the fourth quarter of 2021.
This marks YoY increases of KRW 554.8 billion (30%) in revenue and KRW 55.3 billion (21%) in operating income by, and QoQ decreases of KRW 117.9 billion (5%) in revenue and KRW 139.6 billion (31%) in operating income.
The company explained that its earnings improved year-over-year on the back of increased sales of high-value-added industrial and automotive MLCCs, and high-end package substrates for 5G smartphones and laptops, but quarter-over-quarter earnings declined due to a decrease in demand following customers' year-end inventory adjustments, seasonal factors, and one-off expenses.
In fiscal year 2021, the company recorded revenue of KRW 9.675 trillion and operating income of KRW 1.4869 trillion, up 25% and 63% compared to the previous year, respectively.
(※ 2020 earnings: Revenue of KRW 7.7533 trillion, operating income of KRW 912.7 billion)
Despite the uncertain external business environment in 2022, promising sectors including 5G, big data, and electric vehicles are expected to see continued growth. Samsung Electro-Mechanics plans to lead the market by enhancing cost competitiveness and developing differentiated products.
Earnings by Quarter
(Unit: KRW 100M)


Earnings and Forecast by Business Unit
In Q4, The Component Unit posted revenue of KRW 1.1736 trillion, up 22% year over year, as it expanded the supply of high-capacity and high value-added products for industrial and automotive applications.
Although demand for some product groups is expected to slow this year, the 5G smartphone market, demand for overall sets including server and network applications, and the automotive market are expected to grow. Samsung Electro-Mechanics plans to flexibly respond to changes in market demand by improving productivity and to expand the supply of high value-added products for 5G, servers, and electric vehicles.
The Optics & Communication Solution Unit recorded revenue of KRW 777.4 billion, up 38% year-over-year, thanks to the expanded supply of high-performance camera modules for overseas partners and high-performance automotive camera modules.
Samsung Electro-Mechanics aims to lead the smartphone camera module market and continuously expand the supply of automotive camera modules by releasing a series of high-performance products with high-pixel, high-magnification optical zoom, ultra-wide-angle, and ultra-slim features building on its core internalized technologies such as lenses and actuators.
In Q4, the Package Solution Unit posted revenue of KRW 478.9 billion, up 38% year over year. Earnings improved as it expanded the supply of high-end BGAs for mobile APs and 5G antennas and high value-added FCBGAs for thin-plate CPUs.
This year, the substrate business is expected to see solid demand for high-end package substrates in line with the growth of related markets such as 5G, AI, and big data. Samsung Electro-Mechanics will actively respond to the growing market demand by extending new high value-added products for servers and networks and promoting capacity expansion at production bases.


Revenue by Business Unit
(Unit: KRW 100M)



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