Synnex(2347TW) 's revenue reached NT$424.7 billion last year, setting a new record with an increase of 4%

Synnex (2347) 's annual revenue reached NT$424.7 billion last year, setting a new record for two consecutive years, with an annual increase of 4%. The revenue in the fourth quarter of last year was NT$111.7 billion, the second highest in the history of a single quarter, and it has stood at the 100 billion mark for six consecutive quarters.


Since the second quarter of last year, due to the influence of variables such as the escalation of the epidemic, the lockdown in China, inflation, and interest rate hikes, the market atmosphere has become more conservative, especially the confidence in terminal consumption has become weaker. However, by relying on the strong physique established by the Agility and Leap Forward projects in recent years, and the active development of the Management Service Platform, driving Synnex to perform well in the IT Commercial business and the Semiconductor business, the revenue grew and hit new highs. In particular, the IT Commercial business saw a substantial quarterly increase of 24% and an annual growth rate of 20% in the fourth quarter of last year, surpassing the IT Consumer and Semiconductor business in one fell swoop, becoming the business that contributed the most to Synnex's revenue, accounting for 35%.


The revenue of IT Commercial business last year was NT$126.0 billion, an annual increase of 17%, and set a new high for the same period for eight consecutive quarters. Among them, data center products increased by 50%, and network/information security and software/cloud services also had double-digit annual growth. The revenue of the Semiconductor business last year was NT$138.3 billion, an increase of 16%, and it has maintained double-digit annual growth for nine consecutive quarters. Although the IT Consumer and Telecom businesses still grew in the first half of last year, due to the sharp decline in terminal purchases in the second half, they decreased by 13% and 5% respectively for the whole year.


From a regional perspective, except for China, which suffered a decline in revenue due to the impact of the lockdown, the rest of the region maintained positive growth in revenue last year. Among them, Indonesia and Hong Kong achieved double-digit annual growth rates of 16% and 11% respectively; while Taiwan, Australia & New Zealand, and Indonesia set new record highs for two consecutive years, and their performances were quite impressive.