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SAMSUNG ELECTRO-MECHANIC (SMSGF) Q1 2021 Results - Earnings Call Transcript

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SAMSUNG ELECTRO-MECHANIC (OTC:SMSGF) Q1 2021 Earnings Conference Call April 28, 2021 2:00 AM ET

Company Participants

Taiyoung Kim - Head, IR

Kook Cho - Head of Strategic Marketing

Conference Call Participants

Rok Kim - Hana Financial Investment Co., Ltd

SK Kim - Daiwa Securities

H Kwon - JPMorgan Chase & Co

Hyung Park - Shinhan Investment

Giuni Lee - Goldman Sachs

Gang Park - Daishin Securities Co. Ltd

Dong Lee - SK Securities Co

Jong Lee - Samsung Securities

Taiyoung Kim

Good afternoon. This is Taiyoung Kim, Head of IR and Planning Team at Samsung Electro-Mechanics. Thank you for joining our 2021 First Quarter Earnings Conference Call. On today's call, I am joined by EVP, Bongyong Kang of the Business Support Team; SVP, Kook-hwan Cho. Head of strategic marketing; Teutak Park, Head of Support Team Component Division; Jung Won Lee, Head of Support Team, Module division; and Bom Park, Head of Support Team, Substrate division.

We will start with a presentation on our first quarter company level and divisional business results followed by market trends and outlook by products before taking your questions. Now first, our first quarter results. In Q1, our revenue was KRW 2,371.9 billion which is an approximately 14% increase Q-o-Q, mainly attributed to the growth of component and module divisions which offsets a decrease in subscription revenue. On a year-on-year basis, even though the module division revenues decrease, revenue increase from the component and substrate divisions and overall year-on-year revenue growth was about 11%.

The details regarding revenue increase and decrease factors by division will be explained later on during the divisional results. Q1 operating profit was KRW 331.5 billion which is about a 31% increase Q-o-Q and roughly doubles the operating profit in first quarter last year. Pretax profit in Q1 was KRW 333.8 billion net profit after

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