[Click eStock] "Samsung E&A Expected to Achieve Existing Order Target Ahead of Schedule"

Daishin Securities forecasted on the 18th that Samsung E&A's annual order volume could exceed 20 trillion won.

Researcher Lee Taehwan of Daishin Securities explained, "The existing order target of 12.6 trillion won can be achieved ahead of schedule," adding, "The EPC conversion of the Indonesia TPPI ($3.5 billion) and Malaysia H2biscus ($1.5 billion) projects can be expected within the year." He continued, "Entering the order domain exceeding 20 trillion won annually is not impossible," and added, "Aramco will also rapidly expand its investments."

He expressed optimism, saying, "The potential order areas in the Middle East market are gradually expanding," and "The experience and execution capability from securing multiple projects locally will also be highlighted."

The researcher estimated that on a consolidated basis, Samsung E&A recorded sales of 2.6 trillion won and an operating profit of 197.9 billion won in the first quarter, analyzing that "sales increased by 1.4% compared to the same period last year, while operating profit decreased by 12.2%." He added, "this forecast meets market expectations," and explained, "The cost ratio excluding one-time factors appears to have recorded a typical level of around 88%."