Last checked at 11 Apr 2023 07:00
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD), on April 7, 2023, announced its earnings guidance for the first quarter of 2023.
∙ Consolidated sales: Approximately 63 trillion Korean won
∙ Consolidated operating profit: Approximately 0.6 trillion Korean won
The above estimates are based on K-IFRS. Please note that Korean disclosure regulations do not allow earnings estimates to be offered as a range. To comply with such regulations, the above figures represent the median of the estimate ranges provided below.
∙ Sales: 62 trillion to 64 trillion Korean won
∙ Operating profit: 0.5 trillion to 0.7 trillion Korean won
※ The above information is provided for the convenience of our investors before the external audit on the financial results of our headquarters, subsidiaries and affiliates is completed. The statements contained herein include statements of future expectations and other forward-looking statements that are based on management's current views, expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in Samsung Electronics Co., Ltd's ("SEC") core businesses and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events, (iii) currency exchange rates, (iv) changing levels of competition, (v) changes in laws and regulations, (vi) general competitive factors, in each case on a local, regional, national and/or global basis. The matters discussed herein may also be affected by risks and uncertainties described from time to time in SEC's filings with the Korea Stock Exchange (KRX), FSS (Korea), and Samsung Website. Further information about risks and uncertainties affecting Samsung Electronics Co., Ltd. is included throughout our most recent annual and interim reports, as well as our most recent earnings release, which are available on https://www.samsung.com/global/ir. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of SEC may vary materially from those described in the relevant forward-looking statement, and all such statements are subject to certain risks and uncertainties that could cause our actual results to be materially different from those expressed herein. The company assumes no obligation to update any forward-looking statement.
SEC 1Q23 Pre-Earnings Guidance Reference Material
Samsung Electronics recorded a significant decline in results quarter-on-quarter mainly
due to effects of weak IT demand in the component businesses. In the Memory
Business, earnings were heavily impacted by deteriorated purchasing sentiment and
effects of continued inventory adjustments at customers, while results at S.LSI were
weighed on by the economic slowdown and SDC saw a seasonal decline.
The Company has been focusing on ensuring sufficient memory supply to prepare for
potential production bit growth challenges associated with transitions to advanced
processes. However, as we have now achieved sufficient supply capability for certain
products, we plan to cut production of those products while maintaining our ongoing
efforts to prepare for the future, which include optimizing line operations and
increasing the portion of engineering runs.
We maintain our projections on the strength of mid- to long-term demand and will
thus continue to invest in infrastructure while also increasing the R&D portion of our
investments to further strengthen our technology leadership.