Samsung C&T, Q2 Operating Profit 772 Billion KRW... Up 38.9% YoY

Sales Decreased by 2.2% to 10.586 Trillion Won

Samsung C&T announced on the 26th that its consolidated operating profit for the second quarter of this year reached 772 billion KRW, marking a 38.9% increase compared to the same period last year.

During the same period, sales decreased by 2.2% to 10.586 trillion KRW, while net profit rose by 9.8% to 694.7 billion KRW.

A Samsung C&T representative analyzed, "In the second quarter of this year, despite the uncertain economic environment, profitability continuously improved based on differentiated competitiveness across business divisions."

Looking at each division, the construction division recorded sales of 4.751 trillion KRW and an operating profit of 305 billion KRW. Sales increased by 41.4% and operating profit by 96.8% compared to the same period last year. The trading division posted sales of 3.516 trillion KRW and an operating profit of 114 billion KRW, decreasing by 35.1% and 11.6% respectively from the previous year.

The construction division’s performance improved as the progress of ongoing projects domestically and internationally showed favorable trends. On the other hand, the trading division’s results declined due to base effects, but profitability improved compared to the previous quarter thanks to enhanced trading competitiveness and operational efficiency.

The fashion division’s sales increased by 1.8% year-on-year to 524 billion KRW, while operating profit decreased by 8.1% to 57 billion KRW. The resort division recorded sales of 929 billion KRW, up 6.1% year-on-year, and operating profit of 49 billion KRW, down 12.5%.

Samsung C&T explained, "Fashion saw a slight decrease in operating profit due to a temporary increase in costs compared to the same period last year, but overall business sectors, including overseas products, showed solid performance, maintaining results at the previous quarter’s level. The resort division experienced increased sales due to rising leisure demand, and although operating profit decreased compared to the same period last year due to inflation, it improved compared to the previous quarter."

Samsung C&T’s cumulative orders for the second quarter reached approximately 14.4 trillion KRW, surpassing this year’s forecast of 13.8 trillion KRW. This included large-scale domestic and international projects such as the Taiwan complex development, Samsung Electronics’ semiconductor factory in the United States, and housing projects.

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