NEWSROOM

Samsung C&T posts

Q3 2019 earnings

Oct 23, 2019

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

 

 

Overall Performance

 

  • 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

 

 

Fashion Group

 

  • 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.

 

 

Resort Group

 

  • 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.