25th Jul 2008 08:25
July 25, 2008
Earnings Release 2Q 2008
Samsung Electronics
Disclaimer
This document is provided for the convenience of investors only, before our external audit on Q2 2008 financial results of our headquarters is completed.
The audit outcomes may cause some parts of this document to change.
This document contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain.
For us, particular uncertainties which could adversely or positively affect our future results include: the behavior of financial markets including fluctuations in exchange rates, interest rates and commodity prices; strategic actions including dispositions and acquisitions; unanticipated dramatic developments in our major businesses including Semiconductor, LCD, Telecommunication, Digital Media; and numerous other matters at the national and international levels which could affect our future results
These uncertainties may cause our actual results to be materially different from those expressed in this document.
Sales and Profits
|
(Unit : Trillion KRW) |
2Q 08 |
Q-on-Q |
1Q 08 |
2Q 07 |
Y-on-Y |
|
Sales |
18.14 |
6% |
17.11 |
14.63 |
24% |
|
Gross Profit (Margin) |
5.11 (28%) |
9% |
4.69 (27%) |
3.34 (23%) |
53% |
|
SG&A |
3.21 |
27% |
2.53 |
2.43 |
32% |
|
Operating Profit (Margin) |
1.89 (10%) |
-12% |
2.15 (13%) |
0.91 (6%) |
108% |
|
Non-operating Income |
0.68 |
47% |
0.46 |
0.71 |
-4% |
|
Pretax Income (Margin) |
2.57 (14%) |
-2% |
2.62 (15%) |
1.62 (11%) |
59% |
|
Income Tax |
0.43 |
1% |
0.43 |
0.20 |
121% |
|
Net profit (Margin) |
2.14 (12%) |
-2% |
2.19 (13%) |
1.42 (10%) |
51% |
Divisional Performance - Sales
(Reflects May '08 Organization Restructuring)
|
(Unit : Trillion KRW) |
2Q 08 |
Q-on-Q |
1Q 08 |
2Q 07 |
Y-on-Y |
|
Semiconductor |
4.58 |
4% |
4.39 |
4.26 |
7% |
|
Memory |
3.21 |
8% |
2.96 |
3.08 |
4% |
|
System LSI |
0.77 |
10% |
0.70 |
0.65 |
19% |
|
LCD |
4.71 |
9% |
4.34 |
3.34 |
41% |
|
Telecommunication |
6.14 |
2% |
5.99 |
4.85 |
27% |
|
Handsets |
5.40 |
5% |
5.15 |
4.23 |
28% |
|
Digital Media |
2.56 |
15% |
2.23 |
2.07 |
24% |
|
Appliances |
1.11 |
35% |
0.82 |
0.95 |
17% |
|
Total |
18.14 |
6% |
17.11 |
14.63 |
24% |
【Consolidated basis Sales*】
|
(Unit : Trillion KRW) |
2Q 08 |
1Q 08 |
2Q 07 |
|
Semiconductor |
5.24 |
4.87 |
4.76 |
|
LCD |
3.94 |
3.65 |
3.03 |
|
Telecommunication |
7.87 |
7.48 |
6.08 |
|
Digital Media |
10.33 |
8.45 |
6.99 |
*The consolidated sales figures are net sales (They exclude interdivisional sales)
** Including interdivisional sales, consolidated sales for 2Q '08;
Semiconductor - 5.73 trillion won, LCD - 5.54 trillion won.
Divisional Performance - Operating Profit
|
(Unit : Trillion KRW) |
2Q 08 |
Q-on-Q |
1Q 08 |
2Q 07 |
Y-on-Y |
|
Semiconductor (Margin) |
0.27 (6%) |
38% |
0.19 (4%) |
0.33 (8%) |
-18% |
|
LCD (Margin) |
1.00 (21%) |
-1% |
1.01 (23%) |
0.29 (9%) |
244% |
|
Telecommunication (Margin) |
0.79 (13%) |
-15% |
0.93 (15%) |
0.37 (8%) |
114% |
|
Digital Media (Margin) |
-0.16 (-6%) |
- |
0.04 (2%) |
-0.07 (-3%) |
137% |
|
Total (Margin) |
1.89 (10%) |
-12% |
2.15 (13%) |
0.91 (6%) |
108% |
Consolidated basis operating profit*
|
(Unit : Trillion KRW) |
2Q 08 |
1Q 08 |
2Q 07 |
|
Semiconductor |
0.30 |
0.20 |
0.34 |
|
LCD |
1.05 |
1.08 |
0.31 |
|
Telecommunication |
0.89 |
1.10 |
0.52 |
|
Digital Media |
0.14 |
0.21 |
0.26 |
\* The consolidated OP is provided to enhance the understanding of the investors.
Financial Position
|
(Unit: Trillion KRW) |
2Q 08 |
1Q 08 |
2Q 07 |
|
Assets |
71.0 |
67.5 |
59.3 |
|
Cash* |
6.4 |
7.2 |
4.1 |
|
A/R & Inventories |
7.8 |
5.9 |
5.2 |
|
PP & E |
31.5 |
30.7 |
29.8 |
|
Other Assets |
25.3 |
23.7 |
20.2 |
|
Liabilities |
14.8 |
14.4 |
12.5 |
|
Debt |
0.1 |
0.1 |
0.1 |
|
Other Liabilities |
14.7 |
14.3 |
12.4 |
|
Shareholders Equity |
56.2 |
53.1 |
46.8 |
|
Debt / Equity |
0.2% |
0.2% |
0.2% |
|
Net Debt / Equity |
-11.2% |
-13.4% |
-8.6% |
|
Return on Equity |
15.7% |
16.7% |
12.5% |
|
Return on Asset |
12.4% |
13.2% |
9.8% |
* Cash = cash + cash equivalent + short-term financial instruments + marketable securities
Cash Flow
|
(Unit: Trillion KRW) |
2Q 08 |
1Q 08 |
|
Cash* (Beginning of period) |
7.20 |
7.81 |
|
Cash flow from Operation |
3.01 |
2.66 |
|
Net Profit |
2.14 |
2.19 |
|
Depreciation |
1.86 |
1.88 |
|
Income(Loss) from Equity method |
-0.61 |
-0.52 |
|
Increase(decrease) in Working Capital, etc |
-0.38 |
-0.89 |
|
Cash flow from Investment |
-2.86 |
-3.29 |
|
CAPEX |
-2.71 |
-2.83 |
|
Cash flow from Finance |
-0.96 |
0.01 |
|
Dividend |
-1.10 |
- |
|
Decrease of Short-term borrowings |
- |
- |
|
Repurchase of Shares |
- |
- |
|
Proceeds from sales of shares Under stock option plan |
0.14 |
0.01 |
|
Net decrease in cash |
-0.82 |
-0.61 |
|
Cash (End of period) |
6.38 |
7.20 |
* Cash = cash + cash equivalent + short-term financial instruments + marketable securities
※ '08 consolidated capital expenditures : 12.5 trillion won
- Memory : 7 trillion won plus
- LCD : Approximately 4.5 trillion won
For a detailed presentation of our 2Q 2008 results including business outlook,
Please refer to the following link :
http://www.samsung.com/ir
Related Shares:
Samsung El.gdr