Synnex's (2347TW) August revenue increased 19% YoY,Q3 revenue aimed to exceed 100 billion

Synnex (2347) had strong sales momentum in August, the consolidated revenue amounted to NT$33.4bn with the annual increase of 19%. Optimistic about the continued popularity of the market in September, Synnex is optimistic that it will once again stand above the 100 billion mark in the third quarter and challenge a record high.


From the perspective of the business unit, the revenue of IC components, China, Taiwan IT, and Indonesia all increased by more than 20% annually. Among them, the IC components and Indonesia reached a new high over the same period, and Taiwan IT set a new single-month record. From a product perspective, the commercial market has steadily recovered. Commercial systems have grown by 61%, network security has grown by 36%, and cloud software has also reached double-digit annual growth. In the consumer market, the stay-at-home economy and e-sports related products still maintain strong growth momentum, with an annual increase of nearly 30%; meanwhile, smart devices have grown significantly by 71% due to the development of new products and new markets.


Synnex's preliminary consolidated revenue was NT$33.4bn in August, increased 19% YoY. By product, IT Commercial sales revenue this month was NT$8.9bn, up 32% YoY. IT Consumer sales revenue was NT$12.9bn, up 4% YoY. Telecom sales revenue was NT$1.1bn, down 14% YoY. IC components revenue was NT$10.5bn, up 39% YoY.


YTM sales revenue was accumulated to NT$248.4bn, up 23% YoY. Among them, IT Commercial sales revenue totaled NT$66.6bn, up 24% and shared 27% of total revenue. IT Consumer sales revenue totaled NT$92.8bn, up 8% and shared 37%. Telecom sales revenue was NT$9.8bn, up 12% and shared 4% of total revenue. IC components revenue was NT$ 79.2bn, up 49% YoY and shared 32% of total revenue.