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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samsung SDS earned more than KRW 4.2 trillion in internal transactions last year, more than 80% of its total sales from its group affiliates, the report showed. In particular, Samsung Electronics, the eldest brother in the group, was highly dependent on internal transactions, accounting for nearly 50%.
According to the status of large business groups announced by the Fair Trade Commission, Samsung SDS's sales generated through internal transactions last year totaled 4.2188 trillion won, up 8.2% from a year earlier. This is 81.5% of Samsung SDS's total sales, up 3.3%p from the same period.
In detail, it is no exaggeration to say that most of Samsung SDS's internal transaction sales came from Samsung Electronics. Samsung SDS earned a total of KRW 2.571 trillion from Samsung Electronics last year, accounting for 48.8% of the total internal transactions. In fact, the amount of money Samsung SDS earned through transactions with Samsung Electronics is equivalent to the size of internal transactions with the rest of its affiliates. Samsung Electronics accounted for 39.8% of Samsung SDS's total sales.
Samsung SDS has been making all-out efforts to reduce the proportion of internal transactions by entering new businesses such as cloud and logistics for many years. Thanks to this, the proportion of internal transactions, which reached 87% in 2017, dropped to the early 80%.
In fact, some observers say that Samsung Electronics could have a negative impact on Samsung SDS as it has had a hard time since the second half of last year due to weak demand for memory semiconductors. This is because Samsung Electronics has had a hard time due to weak demand for memory semiconductors since the second half of last year, which could have an adverse impact on Samsung SDS.
Samsung SDS's concerns are expected to deepen as some predict that Samsung Electronics will post a massive deficit across the company starting in the second quarter of this year.
Hi Investment & Securities expects Samsung Electronics to post a deficit of KRW 1.286 trillion in the second quarter of this year. SK Securities and eBEST Investment & Securities also forecast losses of 600 billion won and 400 billion won, respectively.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
