Samsung E&A Q1 Operating Profit 209.4 Billion KRW... 7.1% Decrease YoY

Sales of 2.3847 trillion KRW, net profit of 164.1 billion KRW
"Gradual performance recovery through new order project sales"

Samsung E&A (formerly Samsung Engineering) announced on the 25th that its operating profit for the first quarter of this year was 209.4 billion KRW, a 7.1% decrease compared to the same period last year.

During the same period, sales were 2.3847 trillion KRW, and net profit was 164.1 billion KRW, decreasing by 5.9% and 6.7%, respectively.

A Samsung E&A representative explained, "Although sales and operating profit slightly decreased, we expect gradual recovery as revenue from newly secured projects is fully reflected in the performance."

Samsung E&A Headquarters Building. [Photo by Samsung E&A]

First quarter orders amounted to 1.4 trillion KRW, and the order backlog reached 16 trillion KRW. In particular, in April, by securing a large-scale gas plant project in Saudi Arabia, the company achieved about 70% of its annual order target of 12.6 trillion KRW.

Samsung E&A plans to continue pursuing a profitability-focused order strategy, including 'from basic design to design, procurement, and construction (FEED to EPC)' and the application of technological innovation.

A Samsung E&A representative stated, "We plan to maintain stable growth by focusing on project management and sound management. Through innovation, we will secure differentiated EPC execution competitiveness and actively participate in future new businesses based on energy transition such as hydrogen and carbon neutrality, thereby strengthening the foundation for sustainable mid- to long-term growth."