Synnex's(2347TW) December revenue hit a new high,the fourth quarter revenue has stand on NT$ 100 billion mark


  Synnex today announced its preliminary consolidated revenue in December 2020 was NT$37.5 billion or 13% YoY, set a record high over the same period, and also the second highest record in a single month. Fourth quarter consolidated revenues was NT$ 100.1 billion, stand on the 100 billion mark, with 7% YoY, or 12% QoQ, reaching double-digit quarter-to-quarter growth for three consecutive quarters.


  Synnex fully grasped the peak season demand, as well as the various business opportunities caused by the epidemic, such as remote communication, zero-contact, and accelerated digital transformation of enterprises, which drive Synnex's fourth-quarter revenue to reach the 100 billion mark. At the same time, each region also set a new annual high in the fourth quarter, and achieved year-to-year growth. Among them, Australia, New Zealand and the IC component business performed most outstanding. Australia and New Zealand grew by 14% YoY, and set a record high in a single quarter; the IC component business grew by 22%. Meanwhile, Taiwan grew by more than 15%, and China grew by 6% and reached double-digit quarter-to-quarter growth for three consecutive quarters.


  Synnex continued to actively expand in the commercial market. In 2020, due to the acceleration of digital transformation investment by enterprises, in addition to double-digit quarter-to-quarter growth for three consecutive quarters, the fourth quarter was the second highest of a single quarter, and the contribution to IT products has also reached 50%. The growth of IC component has reached more than 20% is due to strong demand of end market, tight supply of parts as well as active inventory by manufacturers. As for the stay-at-home economy such as e-sports/gaming, audio and video, and remote communication related products such as video/wireless equipment and cloud services, the demand is still strong in the fourth quarter, the sales grew with a significant increase of 50% and 30% respectively.


  Looking forward to the first quarter of 2021, as the market is still hot, and the unsatisfied demand in the fourth quarter of 2020 due to product shortages will be delayed to this quarter, Synnex expects the first quarter to continue perform better than expected.