Samsung Engineering Achieves Highest Performance in 10 Years with Operating Profit of 702.9 Billion Won Last Year

"Reflecting Major Project Achievements in Mexico, Malaysia, and the Middle East"
"Company-wide Module and Automation Innovation Results"

[Asia Economy Reporter Moon Chaeseok] Samsung Engineering achieved its highest annual performance in 10 years since 2012.

Samsung Engineering announced on the 31st that its consolidated preliminary operating profit last year was 702.9 billion KRW, an increase of 39.7% compared to the previous year. Sales rose 34.3% year-on-year to 10.0543 trillion KRW. Net profit increased by 69.6% to 595.3 billion KRW.

Operating profit in the fourth quarter was 214.5 billion KRW, up 101% from the same period last year. Sales and net profit were 2.9396 trillion KRW and 179.8 billion KRW, respectively. New orders in the fourth quarter amounted to 3.7679 trillion KRW. For the full year, it recorded approximately 10.2 trillion KRW. The order backlog stands at about 17.9 trillion KRW.

Samsung Engineering explained, "Despite uncertain domestic and international environments, large-scale projects in Mexico, Malaysia, and the Middle East were fully reflected in the performance, resulting in growth in scale and improved profitability. The innovation strategies being promoted company-wide, such as modularization and automation, also greatly contributed to the performance improvement, and the industrial environment sector maintained a stable profit structure."

The company expects to record 12 trillion KRW in orders, 10.5 trillion KRW in sales, and 765 billion KRW in operating profit this year. It plans to focus on highly profitable orders with a rich pipeline. Following the FEED to EPC strategy linked to basic design, it will secure linked orders to steadily grow the company.

A Samsung Engineering official said, "We will become a company that solves social challenges through new business investments, talent development, and securing technological capabilities."