Samsung Securities (016360) Q1 2025 earnings summary

Executive summary

• 1Q25 consolidated net income reached KRW 248.4bn, up 68.2% sequentially but down 1.9% year-over-year.

• Net revenues on a consolidated basis were KRW 588.9bn, up 23.2% sequentially, but down 1.8% year-over-year.

• Annualized ROE was 13.6%, a 5.5 percentage point increase from the previous quarter but 1.6 points lower year-over-year.

• Retail client assets grew to KRW 308.4tn, with net new inflows of KRW 10.1tn and HNWI clients rising to 265K.

Financial highlights

• Trading & interest income surged 45.3% sequentially to KRW 360.3bn.

• Brokerage commissions were KRW 160.4bn, up 2.4% sequentially, with domestic commissions rising 16.4% and overseas down 8.9%.

• Financial product sales increased 18.4% sequentially to KRW 32.8bn, with fund product sales up 66.1%.

• Operating expenses decreased 4.8% sequentially to KRW 254.2bn.

• Total assets rose 8.3% sequentially to KRW 67.5tn on a consolidated basis.

Outlook and guidance

• Forward-looking statements caution that expectations are not guarantees and are subject to risks and uncertainties.