Q2 2024 Samsung Electronics Co Ltd Earnings Call Transcript
Key Points
- Total revenue increased by 3% from the previous quarter, reaching KRW74.1 trillion.
- Gross profit rose to KRW29.8 trillion, driven by strong demand for high-value memory products like DDR5 and HBM.
- Operating profit surged by KRW3.8 trillion sequentially to KRW10.4 trillion, with an operating profit margin expansion to 14.1%.
- The DS Division experienced a 23% revenue growth, thanks to the recovery of the Memory business.
- Displays revenue increased by 42% due to robust OLED sales.
- The MX division's revenue decreased by 19% due to weak seasonal demand for smartphones.
- SG&A expenses reached KRW19.3 trillion, despite efficient advertising and promotion expenditure management.
- Persistent cost pressures from rising component prices affected the profitability of finished product businesses.
- CapEx in the second quarter increased by KRW0.8 trillion sequentially to KRW12.1 trillion, indicating higher investment costs.
- The company faces ongoing challenges with the union strike, although it has not yet impacted production.
Good morning, everyone. Thank you for joining us this morning. I am Daniel Oh, Head of Investor Relations at Samsung Electronics. I'm pleased to have you all on today's call.
I want to begin this call by introducing the following executives from our different business segments joining today's call. Starting with EVP Jaejune Kim, representing Memory; VP, Tommy Kwon for System LSI; VP, Taejoong Song for Foundry; EVP, Charles Hur for Samsung Display Corp; VP, Daniel Araujo for Mobile eXperience business; and last but not least, VP, KL Roh for Visual Display.
The presentation deck and other materials, which are intended to supplement our prepared remarks for today's call can be found on the Samsung Electronics Investor Relations website at www.samsung.com/global/ir. Please note that a webcast of this call will be archived on our website.
The following is our usual disclaimer for today's call. I want to remind you that some of the statements
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