Samsung Engineering Q2 Operating Profit 153.5 Billion KRW... 2.1% Increase YoY

Positive Signal for Achieving Annual Target of 8 Trillion Won with 4.3 Trillion Won New Orders in First Half of the Year

[Asia Economy Reporter Park Sun-mi] Samsung Engineering continued its solid performance by recording an operating profit of 153.5 billion KRW in the second quarter, marking 22 consecutive quarters of profitability.

On the 27th, Samsung Engineering announced its preliminary consolidated results for the second quarter, reporting sales of 2.4934 trillion KRW, operating profit of 153.5 billion KRW, and net profit of 139.6 billion KRW. These figures represent increases of 47.0%, 2.1%, and 48.9% respectively compared to the same period last year. The first half results showed sales of 4.6568 trillion KRW, operating profit of 327.9 billion KRW, and net profit of 253.3 billion KRW.

Regarding the performance background, Samsung Engineering stated, “Despite uncertain external conditions, our thorough project management and execution innovations such as automation and modularization led to results exceeding market expectations.” They added, “The FEED (Front-End Engineering Design) to EPC (Engineering, Procurement, and Construction) strategy contributed to the full reflection of large petrochemical projects in Mexico and Malaysia, as well as sales in the Middle East region. The industrial environment sector also maintained a stable profit structure, resulting in both external growth and a solid performance trend.”

New orders in the second quarter amounted to 1.4706 trillion KRW, and the cumulative orders for the first half reached 4.2792 trillion KRW, achieving more than half of the annual order target of 8 trillion KRW. With an order backlog of 16.7 trillion KRW, Samsung Engineering secured a substantial workload exceeding two years of last year’s sales. In the first half, Samsung Engineering raised expectations for entering the LNG market by securing the Pre-FID (Pre-Final Investment Decision) design contract for the Texas LNG liquefaction plant, and also achieved significant results for mid- to long-term order expansion through an agreement with Saudi Aramco.

A Samsung Engineering official said, “We plan to continue stable growth through profitability-focused internal management and efforts to strengthen business competitiveness,” adding, “We will enhance productivity and efficiency through project execution innovation based on digital technology, and continuously discover ESG new businesses such as green solutions related to hydrogen and carbon neutrality, and environmental infrastructure to secure future growth engines.”

This content was produced with the assistance of AI translation services.