Samsung Electronics Reaches Revenue of 1,687 Million Euros in 2021 in Spain – Samsung Newsroom UK

These revenues represent an 8% growth compared to the previous year

Samsung’s activity has had an impact of 744 million euros on Spanish GDP, 11% above its contribution in 2020

Samsung Electronics Iberia, SAU presents the 2021 Annual Report that includes its commitment to Spain to boost the national economy and contribute to improving society in our country. This contribution to the economy was possible thanks to a turnover that in Spain reached to 1,687 million euros in 2021, which represents an increase of 8% compared to the previous year. On the other hand, the operating result reached 44.9 million euros, while profits after taxes stood at 34.5 million, which represents an increase of 42.6% and 36.2%, respectively, Over the previous year.

Socioeconomic and fiscal impact of Samsung in Spain in 2021 *

In the 2021 report, the company shows the results of its commercial activity and how this has brought about a tangible benefit for the economic and social development of Spain, contributing to collective progress through the economy, employment or the tax area, indicators that show a performance superior to the previous year, thanks to the recovery of Samsung’s sales volume in Spain, after a 2020 marked by the COVID-19 pandemic.

Thus, Samsung’s total contribution to Spanish GDP in 2021 reached €744 million, 74.6 million euros more than in 2020, which represents a year-on-year growth rate of 11.2%. This figure includes the direct contribution of the company of 83.7 million euros, the additional indirect contribution of 147.9 million derived from expenses in national suppliers, which represent 84% of the total, and 359.7 million for the contribution driver to GDP derived from the sale of products, highlighting the impact on retail trade specializing in electronics. The remaining 152.3 million were generated through the induced contribution to GDP. During the 2021 financial year, the company made purchases and investments in local suppliers for a value of 170.3 million euros, which represents an increase of 20.6% compared to the previous year.

In line with the increase in the impact on GDP, Samsung’s contribution to employment in 2021 rose to stand at 15,894 jobs, which represents a growth of 7.8% compared to 2020. In 2021, its human team amounted to 340 people while the indirect jobs generated reached 3,049. Similarly, in terms of the tractor impact on employment, 10,166 jobs were created in 2021, while those generated through the induced impact reached the figure of 2,340.

Lastly, the total tax impact generated by Samsung in 2021 amounts to 619.4 million euros, 38 million euros more than in 2020, which represents a growth of 6.5%. The tax impact responds to tax collection and social contributions produced by the company’s activity in a direct, indirect, driving and induced manner. The direct contribution to the State coffers in 2021 amounted to 39.4 million euros. The indirect fiscal impact was 369.8 million, which represents 67.5% of the total fiscal impact. The sale of products in commercial establishments, in turn, originate a driving tax impact of 164.5 million euros. Lastly, the induced tax impact represented an additional 45.7 million euros corresponding to the activity and employment generated by the company in an induced manner. The total tax impact generated by Samsung in 2021 for each unit of product sold amounted to 64 euros.

Thus, Samsung’s activity in Spain has had a direct impact on achieving the Sustainable Development Goals in 2021. Its total tax collection is equivalent to 25% of the expenditure on Inclusion of the PGE and for each euro of benefit achieved, 18 euros of total tax collection were generated, which contributes to achieving the objectives of ending poverty (SDG 1) and reducing inequalities. (SDG 10).

“Despite the fact that 2021 has not been an easy year due to the fact that we had to continue managing our lives both professionally and personally in difficult conditions, we have achieved very positive results compared to the previous year and we have recovered the indicators of business with figures similar to the pre-pandemic. In this sense, I believe that the contribution of technology in general and that of Samsung in particular has been fundamental so that people and society have been able to maintain the activity of companies, the educational system or public administrations, among other areas. basics of our life highlighted Ick Soo Choi, President of Samsung Electronics Iberia.

As a novelty, this year Samsung Spain has published the Non-Financial Information Statement (EINF), which includes the materiality analysis, as a response to its commitment to good governance and with the aim of developing the corporate strategy in a sustainable manner. The result of this analysis has resulted in a list of 21 points or outstanding issues that are structured into seven groups: environment, employees, corporate governance, society, customers, product excellence and fiscal transparency. These blocks are the major issues on which the company’s strategy is based and which allow it to continue advancing in the creation of economic, social and environmental value, in addition to satisfying the interests of current and future stakeholders. The points that have had the most impact among stakeholders have been the use of renewable energy (2) and that related to cybersecurity and data protection (16).

Commitment to society

Samsung’s mission is to work to improve people’s lives and break down barriers through technology. In Spain, this philosophy materializes under the “Technology with Purpose” program, which this year celebrates its tenth anniversary and is present in key areas such as education, culture, employability, entrepreneurship, quality of life or accessibility. .

Among the different initiatives carried out over the past year, it is worth mentioning the inauguration of Classroom of the Future, together with the Ministry of Education and Professional Training, located at the headquarters of INTEF (National Institute of Educational Technologies and Teacher Training), for the professional development of teachers. A fully equipped space, which allows educational managers, ICT resource providers and teachers to reflect on how new technologies can be integrated into educational reforms. This initiative reinforces Samsung’s commitment to education and materialized in the program Samsung SmartSchool. An initiative that, since its creation in 2014, has been implemented in 108 classrooms of 5th and 6th years of Primary Education, has trained some 700 teachers and has impacted more than 4,000 students from 40 public centers throughout Spain.

It has also promoted youth employment and talent through its training program

Samsung Innovation Campusa training program developed together with the UPM (Polytechnic University of Madrid) and the UMA (University of Malaga) that offers young people, completely free of charge, the opportunity to boost their learning and improve their employability.

Within the task of promoting entrepreneurship and encouraging women in STEM disciplines, the company launched in 2018 Samsung Developers a program aimed at training women in the different professional specialties in relation to software development, which has already trained more than 2,700 female students between the ages of 18 and 35. In addition, more than 12,000 people make up Samsung Dev UKthe community for Spanish developers of Samsung.

On the other hand, culture is an essential pillar for Samsung and, therefore, it collaborates with the main centers of reference in the country, providing technological solutions and generating content to bring the arts closer to the public and improve their experience. One of the most outstanding initiatives of 2021 has been the permanent exhibition ‘History of the Prado Museum and its buildings’a museum installation that traces the trajectory of the institution since its birth in 1819. Another example is the initiative ‘Inclusive Meadow’which seeks to bring culture closer to the elderly, people with cognitive impairment, students with special educational needs or the migrant population through technology.

In the field of accessibility and well-being, in 2021, Samsung Spain launched, together with the CNSE Foundation, a new customer service for deaf people through sign language. In addition, it has encouraged alliances between different entities to promote inclusion and technological progress, with important agreements with the ONCE Foundation, the Princess of Girona Foundation, the Spanish Federation of Breast Cancer (FECMA), the Spanish Society of Medical Oncology (SEOM), the Red Cross or Aldeas Infantiles, among others.

Devices to offer the best possible experience

Samsung’s vision is to bring design to all ranges of devices, putting technology at the service of people in order to achieve the best possible experience. Increasingly smart, versatile and connected devices and equipment that help users achieve the best experience and develop their full potential.

From the mobility division, it presented the latest evolution of the foldable mobile devices of the iconic range Galaxy ZFlip. For its part, the S range surprised with a new ‘flagship’, the Galaxy S21 Ultra 5G, a device that incorporates the most advanced professional camera system (with a new 108MP professional sensor), as well as taking productivity and creativity to a higher level by integrating the S Pen experience in the Galaxy S series for the first time time. In addition, the Galaxy also reached the Spanish market TAB S7 FEwhich stands out for its large 12.4-inch screen.

The consumer electronics division presented its series televisions in 2021 Neo-QLED. Samsung incorporates this all-new technology into its 8K and 4K models, taking QLED a step further through a new light source, Quantum Mini LED, precisely controlled by Quantum Matrix Technology and its Neo QLED processor. It has also improved its series of Lifestyle televisions. The 2021 version of The Frame is nearly 50% thinner than previous versions, replicates the depth of a traditional frame, and features a library of over 1,600 works from world-renowned institutions.

*The Socioeconomic and Fiscal Report of Samsung in Spain in 2021 has been prepared by the consulting firm PWC based on the financial and fiscal information provided by the company, as well as other macroeconomic and sectoral data extracted from public sources (INE, Tax Agency, Ministry Treasury, etc.)

To consult the Annual Report, the company’s contribution in the different areas and its commitment to Spain to boost the national economy and contribute to improving society in our country, go to: Annual Report 2021 – Samsung Newsroom Spain

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