Samsung Engineering Q3 Operating Profit Soars 15.5% to 160.5 Billion Won

Stable Execution of Chemical and Non-Chemical Operations, Driving Performance with Major Site Innovation Achievements

[Asia Economy Reporter Park Sun-mi] Samsung Engineering demonstrated a solid performance by recording an operating profit of 160.5 billion KRW in the third quarter despite the uncertain global economic environment.

On the 28th, Samsung Engineering announced that its third-quarter consolidated sales reached 2.4579 trillion KRW, operating profit was 160.5 billion KRW, and net profit was 162.2 billion KRW. Compared to the same period last year, sales, operating profit, and net profit increased by 40.7%, 15.5%, and 65.6%, respectively. For the first three quarters, sales totaled 7.1147 trillion KRW and operating profit was 488.4 billion KRW, surpassing 80% of the annual performance targets of 8.5 trillion KRW in sales and 610 billion KRW in operating profit.

Thorough project inspections and cost improvement efforts led to stable results across all business divisions, including chemical and non-chemical sectors, exceeding market expectations. In particular, the application of innovative achievements such as modularization and design automation at key sites in Mexico, Malaysia, and Saudi Arabia significantly improved productivity and efficiency.

Third-quarter orders amounted to 2.1865 trillion KRW, and cumulative orders for this year reached 6.4657 trillion KRW, raising expectations for exceeding the annual order target of 8 trillion KRW. As a result, Samsung Engineering secured a robust order backlog of 17.8 trillion KRW, equivalent to 2 years and 4 months of work based on 2021 sales. Samsung Engineering plans to continue its order achievements focusing on strategic markets such as the Middle East and Southeast Asia, and to secure high-quality projects by continuously pursuing a FEED (Front-End Engineering Design) to EPC (Engineering, Procurement, and Construction) linked order strategy based on technological competitiveness.

A Samsung Engineering official stated, “While maintaining stable growth through profitability-centered internal management, we will enhance EPC competitiveness through technological innovation achievements and continuously discover new businesses based on ESG (Environmental, Social, and Governance) to strengthen the foundation for sustainable mid- to long-term growth.”

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