Samsung C&T Q3 Operating Profit 736.2 Billion KRW... 11.3% Decrease YoY

"Promoting Achievement of Annual Order Targets"

Samsung C&T announced on the 30th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 736.2 billion KRW, down 11.3% from the same period last year. Sales amounted to 10.3099 trillion KRW, a 6% decrease compared to the same period last year. Net profit fell 20.1% to 560 billion KRW.

Samsung C&T stated, "Despite the expanding uncertainties in the domestic and international business environment, we are pursuing the achievement of annual sales and order targets based on diverse business portfolios and business competitiveness across divisions."

By division, the construction division saw sales and operating profit decline by 15.1% and 22.1%, respectively, to 4.482 trillion KRW and 236 billion KRW, due to the completion of large-scale domestic and overseas projects compared to the same period last year.

New construction orders in the third quarter amounted to 3.543 trillion KRW, with the order backlog as of the end of the third quarter totaling 23.587 trillion KRW.

The trading division's sales and operating profit also decreased by 2.1% and 20.2%, respectively, to 3.186 trillion KRW and 71 billion KRW compared to last year. Although trading performance slightly declined year-on-year due to a drop in major raw material market conditions and demand slowdown, the company self-assessed that stable performance was maintained thanks to strong U.S. solar power development projects.

The fashion division's sales and operating profit were 433 billion KRW and 21 billion KRW, down 5% and 36.4%, respectively, from last year. The decline in sales and operating profit compared to the same period last year is attributed to weakened consumer sentiment in the fashion market and the heatwave that prevailed this year.

The resort division, including the food and beverage business, posted third-quarter sales of 1.022 trillion KRW, an 8.1% increase compared to the same period last year. However, despite the top-line growth, operating profit during the same period decreased by 17 billion KRW to 76 billion KRW compared to last year.

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