Samsung C&T Construction Division Reports Operating Profit of 875 Billion KRW Last Year, Up 248.6% YoY

Domestic and International Projects Gain Momentum and Progress
Order Amount Reaches 17 Trillion Won... Exceeding Annual Target

[Asia Economy Reporter Noh Kyung-jo] Samsung C&T announced on the 1st that its construction division's operating profit based on consolidated financial statements reached 875 billion KRW last year, an increase of 248.6% (624 billion KRW) compared to the previous year (251 billion KRW). This growth is attributed to favorable progress in domestic and overseas projects and an increase in orders despite the downturn in the construction market.

Annual sales amounted to 14.598 trillion KRW, up 32.8% (3.609 trillion KRW) during the same period, and cumulative orders reached 17 trillion KRW.

A Samsung C&T official stated, "Performance improved compared to the previous year due to the full-scale commencement of large-scale project construction and increased domestic and overseas order volumes," adding, "Orders exceeded the raised annual target of 16.7 trillion KRW." Samsung C&T initially set a new order target of 11.7 trillion KRW at the beginning of last year but raised the target during the third quarter thanks to strong performance.

Looking at the fourth quarter alone, sales recorded 4.031 trillion KRW and operating profit 241 billion KRW, increases of 28.0% (883 billion KRW) and 81.2% (108 billion KRW) respectively compared to the same period last year.