Samsung SDS (018260) Q4 2024 earnings summary

Executive summary

• 4Q24 revenue reached 3,642 billion KRW, up 2.0% sequentially and 7.9% year-over-year; full-year 2024 revenue grew 4.2% to 13,828 billion KRW.

• Net income for 4Q24 was 196 billion KRW, up 5.6% sequentially and 34.4% year-over-year; full-year net income rose 12.6% to 790 billion KRW.

• Operating profit for 4Q24 was 212 billion KRW, down 16.3% sequentially but nearly flat year-over-year; full-year operating profit increased 12.7% to 911 billion KRW.

Financial highlights

• Gross margin for 4Q24 was 13.9%, down 0.6 percentage points sequentially, flat year-over-year; full-year gross margin improved to 14.6%.

• Operating margin for 4Q24 was 5.8%, down 1.3 percentage points sequentially; full-year operating margin rose to 6.6%.

• Non-operating gain in 4Q24 surged to 70 billion KRW, up from 2 billion KRW in 3Q24.

• EPS for 2024 was 9,787 KRW, up from 8,965 KRW in 2023.

Outlook and guidance

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