Q1 2021 earnings
Samsung C&T’s Q1 2021 revenue reached KRW 7.84Tn, up KRW 880Bn or 12.6% from a year earlier, while it posted an operating profit of KRW 303Bn, up KRW 156Bn or 106.1% from Q1 2020. The earnings of all its business groups improved on the back of increased demand amid the recovery of the global economy, along with continued efforts by the company to improve its fundamentals. It is noteworthy that new construction orders reached KRW6.4Tn in the first quarter alone.
Based on solid management, Samsung C&T plans to continue to strengthen the competitiveness of each of its business groups and maintain improved profitability in a stable manner. The company also aims to respond to market changes in a timely fashion and to prepare for external uncertainties by further improving management efficiency.
- Revenue: KRW 7.84Tn, up KRW 880Bn (12.6%↑) from KRW 6.96Tn in Q1 2020
- Operating Profit: KRW 303Bn, up KRW 156Bn (106.1%↑) from KRW 147Bn in Q1 2020
With the impact of the COVID-19 pandemic gradually decreasing, revenue grew year-over-year (yoy) thanks to increased trading volume in line with the improving global economic situation as well as the recovery of consumer sentiment in South Korea. Operating profit also rose yoy across all business groups amid rising prices of major raw materials and continuous efforts by the company to streamline its operations.
Engineering & Construction Group
- Revenue: KRW 2.78Tn, up KRW 133Bn (5.0%↑) from KRW 2.64Tn in Q1 2020
- Operating Profit: KRW 135Bn, up KRW 11Bn (8.9%↑) from KRW 124Bn in Q1 2020
Both revenue and operating profit grew yoy as overseas projects began in earnest and the group succeeded in securing new orders.
Trading & Investment Group
- Revenue: KRW 3.78Tn, up KRW 620Bn (19.6%↑) from KRW 3.16Tn in Q1 2020
- Operating Profit: KRW 84Bn, up KRW 61Bn (265.2%↑) from KRW 23Bn in Q1 2020
Both revenue and operating profit grew yoy due to increased trading volume in line with the global economic recovery and improved profitability thanks to the strengthening of the group’s trading capabilities.
- Revenue: KRW 421Bn, up KRW 64Bn (17.9%↑) from KRW 357Bn in Q1 2020
- Operating Profit: KRW 21Bn, up KRW 52Bn from KRW -31Bn in Q1 2020
Due to the recovery of domestic consumer sentiment and the group’s enhanced business efficiency, revenue increased yoy and operating profit shifted to the black.
- Revenue: KRW 605Bn, up KRW 9Bn (1.5%↑) from KRW 596Bn in Q1 2020
- Operating Profit: KRW -1Bn, up KRW 19Bn (95%↑) from KRW -20Bn in Q1 2020
Both revenue and operating profit grew yoy thanks to strong golf sales and improved management efficiency.