Business News 04/03/2024, 05:01

Profit of 4 Samsung Factories in Vietnam

Samsung's 4 factories in Vietnam contributed nearly 1/3 of the group's total global profit last year. 2023 was also a year of business fluctuations for Samsung.

Profit of 4 Samsung Factories in Vietnam

Recently, Samsung Electronics Group announced its consolidated business results for the year 2023.

The company's global revenue was 198.3 billion USD, a 14.2% decrease over the same period last year. After deducting expenses, the group's after-tax profit was 11.8 billion USD, a 72% decrease compared to 2022. At the end of 2023, Samsung's total assets reached 349 billion USD.

Only counting the fourth quarter of last year, Samsung achieved a revenue of 51.4 billion USD, and an after-tax profit of 3.97 billion USD. Although this profit was lower than the third quarter, it was double the first two quarters of the year.

However, 4 factories in Vietnam still accounted for a high proportion, contributing about 30% of revenue and 33.5% of profits to this group.

Accordingly, the total revenue of these factories reached 61.4 billion USD, decreasing by 14% over the same period last year. The profit was at 4 billion USD, decreasing by nearly 15% compared to 4.7 billion USD for the same period in 2022.

Samsung Electronics Viet Nam Thai Nguyen (SEVT) was Samsung's factory with the highest contribution in Vietnam, with revenue of about 23 billion USD and nearly 1.7 billion USD in profit. Compared to 2022, this factory's revenue decreased by more than 15%, while the profit decreased by nearly 18%.

Samsung's remaining 3 factories in Vietnam all recorded a decrease in revenue and profit. Specifically, in 2023, two factories in Bac Ninh, Samsung Electronics (SEV) and Samsung Display (SDV), brought in more than 15 billion and 18 billion USD, respectively, a decrease of 15% and 6% over the same period last year.

The profit of the two factories also decreased by about 10%; Samsung Electronics reached 1.1 billion USD and Samsung Display reached more than 800 million USD.

Samsung Electronics HCMC CE Complex (SEHC) earned 4.6 billion USD in revenue. This factory brought in 300 million USD in profit in 2023, an increase of about 4.2%, and was the only Samsung factory in Vietnam to record profit growth.

Dân trí / Translator: Hoàng Trúc

Sign up for more information