Synnex's (2347) consolidated revenue in the fourth quarter of 2021 continued to exceed the 100 billion mark, reaching NT$124.5 billion in one fell swoop, setting a new record for a single quarter with annual growth of 25% and quarterly growth of 23%. Synnex said that although the supply situation did not significantly ease in the fourth quarter, Synnex has successfully won the great supply support from Vendors by implementing the "Management Service Platform (MSP)" to make upstream and downstream information real-time and transparent. As a result, it was able to effectively meet the strong demand for large-scale projects and traditional peak seasons, driving Synnex's revenue continued to record highs.
In terms of product categories, the IT Consumer and IT Commercial businesses simultaneously hit a single-quarter record high in the fourth quarter. Among them, the IT Consumer business broke the 50 billion mark in a single quarter for the first time, reaching NT$58.2bn, an increase of nearly NT$20bn or 51% compared with the third quarter, and an annual increase of 40%. The IT Commercial business hit a record high for four consecutive quarters, breaking the 30 billion mark for the first time in the fourth quarter, reaching NT$32.4bn, an annual increase of NT$4.3bn or 15%. The Telecom business grew by 14% due to the demand for replacement of new phones driven by the launch of new phones. The IC component business benefited from the fact that the manufacturing side actively rushed into production in response to the strong demand from the terminal, and the revenue remained at a high level, with an annual increase of 12%.
From a regional perspective, all BUs of Synnex also set new highs in the fourth quarter of 2021, with good performance in both annual and quarterly growth. Among them, Australia & New Zealand and Indonesia both set record highs in a single quarter. Australia & New Zealand increased by 10% annually and 42% quarterly; Indonesia increased by 62% annually and 33% quarterly. China reached a new high for the same period and the second highest in a single quarter, up 41% over the same period of the previous year and 58% over the third quarter.
Optimistic about the trend that IT products will become rigid demand in the post-epidemic era, while governments around the world are preventing the epidemic, they also strive to not affect economic activities, so that the business environment is expected to continue to be active. Coupled with the expected smooth supply, Synnex expects to continue the business momentum of last year in the first quarter of this year.
Synnex's unaudited annual revenue in 2021 broke the 400 billion mark for the first time, reaching NT$409.4bn, an annual growth rate of 22%. In terms of profit, the accumulated before-tax and after-tax net profit of the first three quarters were NT$19.3bn and NT$14.2bn, respectively, setting record highs, with a substantial growth of 161%, 150%, and earnings per share of NT$8.53.
