Samsung Engineering Q1 Operating Profit 225.4 Billion KRW... Up 29.2% YoY

Sales increased by 17.1% to 2.5335 trillion won

Samsung Engineering recorded an operating profit increase of nearly 30% in the first quarter through profitability-focused business operations.

Samsung Engineering announced on the 27th that it achieved consolidated sales of 2.5335 trillion KRW in the first quarter, up 17.1% compared to the same period last year. Operating profit was 225.4 billion KRW, an increase of 29.2% year-on-year. Net profit rose 54.7% to 175.9 billion KRW.

Samsung Engineering posted results exceeding market expectations (approximately 180 billion KRW) through profitability-centered project management and cost control efforts. The company explained, "We maintained a solid performance trend based on stable execution of major overseas projects in Mexico, Malaysia, and Saudi Arabia, as well as technological innovation achievements such as modularization and automation."

Order intake in the first quarter was 2.1027 trillion KRW, and the order backlog stood at about 18 trillion KRW. This secured work equivalent to 1 year and 9 months based on last year's sales. Samsung Engineering secured initial work for the UAE Hail and Ghasha gas field project in the first quarter.

Samsung Engineering plans to continue its strategy of securing orders linked to engineering, procurement, and construction (EPC) through participation in front-end engineering design (FEED) from the second quarter onward, while also pursuing a profitability-focused selective order strategy to achieve stable growth.

A Samsung Engineering official said, "We will enhance our execution competitiveness through continuous technological innovation and evolve into a differentiated EPC company," adding, "In the era of Energy Transition, we will accelerate the promotion of future new businesses to solve social challenges and strengthen the foundation for sustainable mid- to long-term growth."

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