Synnex(2347TW) Jan. & Feb.’21 revenue up 30% YOY ,Reached the second record high

  In the first two months of the first quarter of 2021, sales momentum was strong, with accumulated revenue of NT$53.7bn, a sharp increase of 30% from the same period last year, and a record for the second highest in the same period.


  Continuing the trend of the fourth quarter last year, the market demand for epidemic prevention, such as WFH/SFH business opportunity and stay-at-home economy, is still quite strong in the first two months of this year, driving e-sports/gaming, tablets, video, cloud and other products to continue to increase significantly. Telecom products grew 21% due to the wave of 5G mobile phone replacement. IC components also increased by 71% due to the factory's non-stop work during the Chinese New Year and active inventory by manufacturers, setting a record high over the same period.


  For Synnex, all regions showed growth in the first two months. Among them, China has gradually relieved from the pandemic impact, and rebound with 36% growth. Australia and New Zealand grew 15% and reached a record high in Jan. and Feb., continued the momentum of setting a record high in four consecutive seasons last year. Due to the market momentum, Synnex optimistically predicted that the first quarter is the busy season than it was a slow one, and will continue to challenge the record high in the same period.


  The first two months revenue accumulated to NT$ 53.7bn. In terms of product, IT sales revenue was NT$28.6bn, up 12% YOY and shared 52% of total consolidated sales revenue. Telecom sales was NT$3.0bn, up 21% YOY and shared 6%. Consumer Electronics sales revenue was NT$5.7bn, up 56% YOY and shared 11%. IC components revenue was NT$16.4bn, up sharply of 71% YOY and shared 31%.