Snet Systems Operating Profit Rises to KRW 3.2 billion in First Half, Up 227% Year Over Year
IT DAILY ·
✦ AI Summary
Snet Systems recorded cumulative consolidated sales of KRW 263.8 billion, consolidated operating profit of KRW 3.2 billion, and net profit of KRW 2.2 billion in the first half.
Compared with a year earlier, consolidated sales rose 54%, consolidated operating profit rose 227%, and net profit rose 194%.
The company cited expansion in its AI business and orders for GPU infrastructure as growth drivers, and said it expects further orders and improved results in the second half.
Snet Systems posted growth in performance in the first half of this year. On the 13th, the company disclosed its cumulative results for the first half and the second quarter, showing increases in sales, operating profit, and net profit.
According to the filing, cumulative consolidated sales for the second quarter came to KRW 263.8 billion, and cumulative consolidated operating profit for the second quarter came to KRW 3.2 billion. Consolidated sales rose 54% from a year earlier, while consolidated operating profit increased 227% year over year.
Net profit came to KRW 2.2 billion. Net profit increased 194% from a year earlier.
On a separate basis, sales came to KRW 181.4 billion, and operating profit came to KRW 300 million. Separate operating profit increased 130% from a year earlier.
The company cited expansion in its AI business as the driver of growth. It said second-quarter improvement was led by growth in existing businesses and expansion of new AI-centered businesses, and explained that results reflected orders for GPU infrastructure tied to expanding AI adoption on top of its large-scale system build and maintenance business base.
Its subsidiary GoodusData saw cloud sales and license sales expand as enterprise customers' demand for AI infrastructure increased, and contributed to GoodusData's performance growth by winning multiple public AX proof-of-concept projects based on Naver Cloud.
Based on this trend, Snet Systems said it plans to sustain growth in the second half. The company said it is expected to win infrastructure and solution build projects aimed at strengthening the use of AI computing resources, and that a large AI infrastructure project related to domestic manufacturers' integrated expansion investment in AI GPU is nearing an order. It also said that through the recent formation of the 'AX Innovation Promotion Team,' it has begun pushing for AI-based management efficiency, strengthening individual capabilities, and strengthening organizational capabilities.
A Snet Systems official said the company expects sales to improve and profitability to recover in the second half, supported by rising demand for AI computing infrastructure. The official added that the company expects solid growth centered on a range of AI businesses, from building AI computing resources to operating GPU infrastructure.
Source: IT DAILY · Yang Seung-gap
Original: https://www.itdaily.kr/news/articleView.html?idxno=240989
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Source: IT DAILY
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