Construction Division Records 18.6 Trillion KRW in Sales and 1 Trillion KRW in Operating Profit Last Year
Architecture Orders Down by 6 Trillion, Plant Orders Up by 5 Trillion
This Year’s Housing Order Target Set at 5 Trillion KRW
Samsung C&T Corporation's Construction Division recorded operating profits exceeding 1 trillion KRW for two consecutive years. Due to changes in the external environment, sales and operating profits slightly decreased compared to the previous year. The company plans to establish growth momentum by targeting technology-specialized products such as airports and data centers, as well as new business areas.
Samsung C&T's Construction Division announced on the 22nd that its sales for 2024 amounted to 18.655 trillion KRW, a decrease of 665 billion KRW compared to the previous year, and operating profit was 1.001 trillion KRW, down by 33 billion KRW.
The total order intake for 2024 was 18.042 trillion KRW, down more than 1 trillion KRW from the previous year (19.228 trillion KRW). Order intake by business unit was △ Architecture 11.465 trillion KRW △ Civil Engineering 320 billion KRW △ Plant 6.257 trillion KRW. While the architecture division's order intake decreased by about 6 trillion KRW compared to the previous year, the plant division increased by more than 5 trillion KRW. Last year, the company secured construction projects worth 3.6 trillion KRW in the housing sector, including Namyeong 2 District, Singil 2 District, and redevelopment of the east side of Anyang Sports Complex.
This year, the company set a goal to achieve results in technology-specialized products such as airports, data centers, and metro systems, as well as in new business areas. The total order intake target is 18.6 trillion KRW. The order intake target for technology-specialized products in the EPC division is set at 1.9 trillion KRW, and the target for new business areas such as energy solutions and platform businesses is 1.7 trillion KRW.
Samsung C&T has set the housing business order intake target at 5 trillion KRW this year, an increase of about 1.6 trillion KRW compared to last year. The company plans to continue expanding new construction rights focusing on prime business sites.
Fourth-quarter sales amounted to 3.674 trillion KRW, down 1.004 trillion KRW compared to the same period last year. Operating profit for the same period was 145 billion KRW, an increase of 10 billion KRW.
In the fourth quarter, Samsung C&T secured orders for projects including the Qatar Integrated Desalination Power Plant project worth 3.9 trillion KRW, Aegis Ansan Data Center EPC (1.4 trillion KRW), and Turkey Nakas Highway Construction project (300 billion KRW).
Samsung C&T explained, "Although sales decreased as large-scale domestic and overseas high-tech and power projects entered the completion stage, operating profit increased compared to the same period last year by maintaining solid profitability."
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