Posted July. 28, 2017 07:35,
Updated July. 28, 2017 07:41
Samsung Electronics’ annual facility investment is expected to surpass the mark of 30 trillion won (26.9 billion U.S. dollars) this year. This is the largest annual investment made by any local company.
“The investment for the first half of this year alone has reached 22.5 trillion won (20.1 billion U.S. dollars), which is similar to the annual sum from last year,” said an official from Samsung Electronics on Thursday. “When the investment for the latter half of this year is included, the sum will far exceed 30 trillion won.” Samsung Electronics has expanded their investments every year with a focal point on semi-conductor business.
It was in 2010 that the South Korean electronics giant surpassed the threshold of 20 trillion won with an annual facility investment worth 21.62 trillion won, and the investment scale has expanded to 25.52 trillion won in 2015. The 2015 figure was the best record so far, and the company is about to set up a new milestone this year.
With the expansion of investments, the company’s net cash is expected to be reduced late this year. The facility investment will continue into the latter half of the year, and more cash will be also spent in the second half for share repurchase and quarterly dividend payments. The company’s ending cash, which hovered around 77.14 trillion won late last year, has shrunk down to 70.55 trillion won as of the second quarter of 2017.
Samsung announced Thursday that it reached a record-breaking 61 trillion won in sales and 14.07 trillion won in operating profits in the second quarter of 2017. This is an overwhelming performance, far exceeding its international manufacturing competitors such as Intel, Volkswagen and Toyota, in terms of both sales and operating profits.