Synnex(2347TW)’s December revenue hits the second highest record of the same period in history, Y19Q4 revenue returning to 90 billion level
2020.1.13

  Synnex Y1912 preliminary consolidated revenue was 34.1 bn, with a growth of 6% YoY; Y19Q4 consolidated revenue was 94.3 bn, a slight decline of 4% YoY; Y19 revenue was 341 bn, a decrease of 11% YoY.

 

  Synnex said that with the signs of easing in the trade war between US and China, confidence in end user and corporate investment has gradually recovered. The revenue in December has shown a signal of turning upward, with a growth of 6% YoY, and set a second highest record in the same period. The revenue in December, except for China which was still declining, the rest of the countries have turned to positive growth. New Zealand, Australia and Hong Kong, all have double-digit growth, and Indonesia has even grown by 61%.

 

  Consolidated revenue in Y19Q4 was 94.3 billion, a slightly 4% decrease compare to same period last year, and returning to the level of more than 90 billion in a single quarter. Besides, Y19Q4 becomes the best performing quarter in 2019, which shows the overall uptrend. From the regional perspective, in China, due to the trade war between US and China is slowing down and the internal operating strategy adjustment has come to an end, the decline of revenue has shrink to less than 20%; Hong Kong continued to be affected by social disturbances, the revenue fell by 6%; Taiwan remained stable; Australia and New Zealand has slightly growth. Indonesia has a substantial growth of 46% because of successful new business expansion. From a product perspective, commercial value-added and e-sports products continue to grow; computer components and storage have double-digit growth due to new product launch; although Intel CPUs are still in shortage, component products have successfully entered the market of automotive, LCD device, and Data Center supply chains, lead to an only 2% decrease in revenue.

 

  Y19 revenue equals to 341 bn. Although the revenue is still down by 11% compare to 2018, the decline has been reduced quarter by quarter. China is still the main area that encountered recession; New Zealand, Taiwan, and component business fell by 6%~8% respectively; Hong Kong's commercial value-added market has grown significantly, and the consumer and mobile market share have increased steadily, lead to an annual growth of 6%; Indonesia received good results from development of new products and new businesses, and also did well expanding market share, lead to an annual growth of 24%.

 

  Looking forward to 2020, although there are still many uncertainties in the overall environment, it is expected that the government and enterprises will continue to undergo digital transformation. The commercialization of 5G business and commercial application of AIoT is gradually taking shape, which will drive new IT equipment investments. Moreover, new trending products, including 5G mobile phones, laptops, e-sports/gaming, are going to release this coming year and is expected to spur the consumption. Therefore, Synnex is cautiously optimistic about 2020's performance.

 

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