Samsung achieves profits of 8.32 billion euros

Deepak Gupta July 28, 2022
Updated 2022/07/28 at 7:19 PM

Samsung has reason to be confident! With the world changing due to the pandemic and the effects of war, markets have been unstable. Given the reality of inflation in several countries, the consumption of goods and services may decrease and this has an impact on the whole of society.

Despite uncertain times, Samsung managed to achieve earnings of €8.32 billion in the second quarter.

Samsung: Strong chip demand and currency exchange helped numbers

South Korean technology company Samsung Electronics has reason to remain motivated, as it recently announced net profits of 11.1 billion won (€8.32 billion) between April and June, up 15.3% from the previous year. last year.

Samsung, based in Suwon, south of Seoul, achieved an EBITDA (earnings before interest, taxes, depreciation and amortization) of 14.46 billion won (10.85 billion euros) in the second quarter of the year. ), 12.3% more than in the same period in 2021, according to a financial report released by the company.

In terms of operating profit, it stood at 14.1 billion won (10.58 billion euros), which represents an increase of 12.2%, while sales revenue recorded an annual growth of 21.2% to 77.2 billion won (54.15 billion euros).

Samsung achieves profits of 8.32 billion euros

This is the fourth consecutive quarter in which the world's largest maker of memory chips and smartphones recorded sales of more than 70 billion won (about 52.6 billion euros). It should be noted that the demand for chips, especially for servers, continues at high levels and the current currency exchange rate is also favorable.

The company's semiconductor department achieved sales of 28.5 billion won (21.37 billion euros), an increase of 23.6%, with the division's operating profit increasing by 44% to 9.98 billion won (7.48 billion euros).

The mobile phone business, while posting solid sales growth of 12.2% year-on-year to 7.71 billion won (5.78 billion euros), saw profitability and operating profit slow, contracting 17.2 % compared to the same period in 2021, to 1.06 billion won (about 795 million euros).

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