Samsung C&T posts
Q3 2019 earnings
Samsung C&T posted Q3 2019 earnings of KRW 7.735tn in revenue and KRW 216bn in operating profit, marking a slight decline from Q2 due to a decrease in revenue at the Engineering & Construction Group and the Fashion Group entering the off-season
- Quarter-on-quarter revenue and operating profit down by KRW 237bn (3.0%↓) and KRW 5bn (2.3%↓), respectively
* Q2 2019 revenue KRW 7.972tn, operating profit KRW 221bn
Despite rising uncertainty in the global economy, the company will seek to realize efficiency-driven and profitable growth, through continued efforts to strengthen the differentiating competitiveness of each business group
- Revenue: KRW 7.735tn, YoY decrease by KRW 46bn (0.6%↓)
- Operating profit: KRW 216bn, YoY decrease by KRW 58bn (21.2%↓)
Revenue fell due to weak commodity prices and decreased trading volume (T&I), the effects of a shutdown on one of the company’s clothing brands and weak performance in sportswear (Fashion)
Operating profit fell YoY due to the base effect of strong performance in Q3 2018 (E&C), and weak commodity prices (T&I Group).
The Fashion Group, meanwhile, saw YoY growth through enhancing operational efficiency.
Engineering & Construction Group
- Revenue: KRW 2.846tn, YoY increase by KRW 22bn (0.8%↑)
- Operating profit: KRW 142bn, YoY decrease by 62bn (30.4%↓)
Revenue grew slightly from Q3 2018, while operating profit decreased due to the base effect of strong performance in the previous year.
Trading & Investment Group
- Revenue: KRW 3.585tn, YoY decrease by KRW 205bn (5.4%↓)
- Operating profit: KRW 27bn, YoY decrease by KRW 11bn (28.9%↓)
Revenue and operating profit decreased due to a decline in trading volume amid an adverse global trading environment and weak commodity prices
- Revenue: KRW 375bn, YoY decrease by KRW 14bn (3.6%↓)
- Operating profit: KRW △15bn, YoY increase by KRW 3bn
Revenue decreased YoY due to weak performance in menswear, while operating profit recorded YoY growth on the back of improved performance in womenswear.
- Revenue: KRW 744bn, YoY increase by KRW 67bn (9.9%↑)
- Operating profit: KRW 50bn, YoY decrease by KRW 1bn (2.0%↓)
Revenue grew YoY from strong performance in the leisure and food material businesses, while operating profit fell YoY due to increased costs.