Synnex(2347TW) Record High for July: Revenues Reaches NT$35.8 Billion, Up 12% YoY
2024.08.07

Driven by significant growth across all four major business sectors, Synnex's July revenue reached NT$35.8 billion, setting a new historical record for the month with a 12% year-over-year increase. The cumulative revenue for the first seven months of the year hit NT$239.7 billion, also a historical high, representing an 11% growth compared to the same period last year.

 

In July, all four of Synnex's business sectors experienced substantial increases in revenue. The IT Commercial and Semiconductor businesses both set new records for the month. The IT Commercial business surpassed the NT$10 billion mark for the first time in July, achieving a record high with a 10% year-over-year increase. The IT Consumer business saw monthly growth starting in Q2, with July showing a 21% year-over-year increase and an 11% month-over-month rise, driven by simultaneous growth in China, Indonesia, and the Australia-New Zealand region. The Telecom business continued to thrive on strong demand in Southeast Asia, growing 16% year-over-year and reaching the highest level since 2018. The Semiconductor business benefited from clients' active stocking to prepare for the peak demand in the second half of the year, achieving a 9% year-over-year growth and setting a new record high.

 

From a regional perspective, Synnex's business units all performed well in July, with Indonesia standing out. Synnex in Indonesia saw simultaneous significant growth across all business sectors, driving overall revenue to a new monthly high with a 34% year-over-year increase. The China market also showed signs of recovery, with three consecutive months of positive year-over-year growth, achieving a 25% increase in July compared to the same period last year. The Australia-New Zealand region grew 16% year-over-year, reaching the second-highest level for the same period. Hong Kong saw a 10% year-over-year increase, while Taiwan experienced a 15% decrease.

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