41.3% YoY Increase
Sales of 10.6249 Trillion KRW, Net Profit of 695.6 Billion KRW
"This Year's Order Target: 12.6 Trillion KRW"
Samsung Engineering announced on the 30th that its consolidated annual operating profit last year reached 993.1 billion KRW, a 41.3% increase compared to the previous year.
During the same period, sales increased by 5.7% to 10.6249 trillion KRW, and net profit rose by 16.8% to 695.6 billion KRW. Both operating profit and net profit marked record highs.
Annual orders amounted to 8.8 trillion KRW, and order backlog stood at 16.8 trillion KRW.
In the fourth quarter of last year, operating profit was 269.9 billion KRW, up 25.8% year-on-year. Sales and net profit were 2.8275 trillion KRW and 112.4 billion KRW, respectively, down 3.8% and 37.5%.
A Samsung Engineering official explained, "We maintained a stable performance trend through the reflection of high-quality overseas project sales and cost improvements. We also achieved meaningful results in future preparations through continuous orders of Front-End Engineering Design (FEED) projects, the full-scale launch of hydrogen development projects, and technology agreements with global companies in the energy and carbon capture sectors."
The company also announced its management outlook and investment plans for this year. It expects to achieve orders of 12.6 trillion KRW, sales of 10 trillion KRW, and operating profit of 800 billion KRW this year. It plans to invest a total of 370 billion KRW, including 200 billion KRW in technology investment for new energy transition businesses, 130 billion KRW in EPC execution innovation such as design and equipment manufacturing automation, and 40 billion KRW in business process automation and advancement.
The company stated, "We plan to continue stable performance growth by differentiating execution competitiveness based on innovative technology. We will also continue securing technology, investing, and commercializing in the energy transition field for sustainable future growth."
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