August 16, 1999 in Social Responsibility News

Impressive First-half Results Show Signs of Improved Financial Soundness at SAMSUNG Electronics

SEOUL, Korea - August 16, 1999 - Samsung Electronics Co., Ltd. announced today its financial results for the first half of fiscal year 1999, ended June 30, 1999. Recording KRW1.3428 trillion (US$1.16 billion) in net profit, KRW12.1371 trillion (US$10.50 billion) in total sales and KRW29.2647 trillion (US$25.32 billion) in total market capital , Samsung achieved the largest sum in Korea for each of these three main financial indicators.

The company's net profit of KRW1.3428 trillion is a 795% increase from the KRW150.1 billion recorded during the same period last year and more than four times the KRW313.2 billion recorded for fiscal year 1998.

Total sales for the first half of 1999 totaled KRW12.1371 trillion, a 15% increase from total sales of the same period last year. Debt-to-equity ratio, considered a measure of a corporation's financial soundness, dropped from 1998 year-end's 198% to 114%. And the company plans to further decrease this figure at the end of the fiscal year.

Furthermore, Samsung's total market capital equaled to 9.63% of the total Korea stock market on July 29, 1999. With this, the company has now positioned itself as the top firm in the Korean electronics industry in terms of total market capital, a position that was traditionally held by Korea Electric Power Corp.

Samsung Electronics was able to record such impressive figures because of the successful restructuring measures it underwent during the past two years. These measures include the sale of non-profitable ventures, management buy-outs, operational cost reductions and other improvements in internal efficiency.

In addition, positive first-half figures are due to the increase of sales in the semiconductor, telecommunications and LCD businesses and the improvement of sales in the multimedia and home appliances business, which include products such as TVs and computers.

In 1995, Samsung Electronics announced its highest net profit figure of KRW2.5 trillion due to the favorable market conditions of the semiconductor industry.

This year, the company was able to achieve the KRW1.3 trillion in net profit due to its concentration in high-tech, value-added products in all of its three main business areas, showing signs of the establishment of a more financially sound business structure at Samsung Electronics.

Samsung Electronics Co., Ltd., with 1998 sales revenue of US$16.6 billion, is a world leader in the electronics industry. The Korean-based firm has operations in 46 countries with 42,000 employees worldwide. The company consists of three main business units: Multimedia & Home Appliances, Semiconductors and Information & Communications. For more information, please visit our website, http://www.samsungelectronics.com

. Exchange Rate from June 30, 1999: US$1 = KRW1,155.9


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