TIDMSMSN
RNS Number : 7093V
Samsung Electronics Co. Ld
07 April 2023
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.
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END
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April 11, 2023 02:00 ET (06:00 GMT)
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