Synnex(2347TW) reverses trend with 9% annual revenue growth in November

Synnex(2347)'s business performance has rebounded, achieving a 9% annual growth in revenue for November, marking the first positive turn in nearly a year. The revenue reached a new monthly high of NT$39.3 billion, reflecting an 18% month-on-month increase.


In November, all four major business segments of Synnex experienced growth compared to the same period last year. The IT Commercial business segment achieved a record revenue of NT$11.1 billion, marking a 5% annual growth and an impressive 31% monthly increase. The Semiconductor business also set a record with a revenue of NT$13.4 billion, showcasing a 15% annual growth and a 20% increase from the previous month. After experiencing a decline for nearly one and a half years, the IT Consumer business segment finally reversed its trend, achieving a revenue of NT$13.2 billion, the highest in nearly 17 months, with a 7% annual growth and a 13% monthly increase. The Telecom business recorded a November revenue of NT$1.6 billion, demonstrating a 23% annual growth and a sixth consecutive month of positive growth.


From a regional perspective, Synnex's revenue performance in November was particularly notable in China and Hong Kong, with nearly 30% and 24% year-on-year growth, respectively. Indonesia also saw a 5% growth compared to the same period last year.


Cumulatively, for the first 11 months, Synnex's revenue amounted to NT$354.5 billion, showing an 8% year-on-year decrease. IT Consumer business declined by 16%, while IT Commercial and Semiconductor sectors experienced marginal declines of 6% and 3%, respectively. The Telecom sector, on the other hand, saw a 6% annual growth.