Samsung C&T posted KRW 30.22Tn in revenue and KRW 857Bn in operating profit for FY 2020. This was only a modest drop from the company’s FY 2019 revenue of KRW 30.76Tn and operating profit of KRW 867Bn on the back of continuous efforts to improve competitiveness and achieve profitable growth despite the adverse business environment brought about by COVID-19.
Q4 2020 revenue reached KRW 8.18Tn, while the quarter’s operating profit of KRW 256Bn maintained the upward trend from Q1, when it stood at KRW 147Bn before rising to KRW 238Bn in Q2 and recording KRW 216Bn in Q3.
For FY 2021, Samsung C&T has set its revenue target at KRW 30.2Tn along with KRW 10.7Tn in new orders.
FY 2020 Earnings
Overall Performance
Revenue: KRW 30.22Tn, down KRW 546Bn (1.8%↓) from KRW 30.76Tn in FY 2019
Operating Profit: KRW 857Bn, down KRW 10Bn (1.1%↓) from KRW 867Bn in FY 2019
While both revenue and operating profit fell slightly due to the effects of COVID-19, the company’s overall performance was maintained at a similar level to the previous year thanks to the steady achievements of the Engineering & Construction Group and other factors such as the increase in plant capacity utilization at Samsung BioLogics.
Engineering & Construction Group
Revenue: KRW 11.7Tn, up KRW 50Bn (0.4%↑) from KRW 11.65Tn in FY 2019
Operating Profit: KRW 531Bn, down KRW 9Bn (1.7%↓) from KRW 540Bn in FY 2019
New Orders: KRW 9.5Tn, 85.6% achievement of KRW 11.1Tn target
The group’s revenue grew slightly due to good progress in domestic and overseas plant projects, while its operating profit remained relatively consistent despite the COVID-19 impact. Orders reached 85.6% of the annual target of KRW 11.1Tn.
Trading & Investment Group
Revenue: KRW 13.25Tn, down KRW 610Bn (4.4%↓) from KRW 13.86Tn in FY 2019
Operating Profit: KRW 94Bn, down KRW 12Bn (11.3%↓) from KRW 106Bn in FY 2019
Both the group’s revenue and operating profit fell as overall trade volumes were continuously affected by COVID-19.
Fashion Group
Revenue: KRW 1.55Tn, down KRW 187Bn (10.8%↓) from KRW 1.73Tn in FY 2019
Operating Profit: KRW -36Bn, down KRW 68Bn (212.0%↓) from KRW 32Bn in FY 2019
The group’s revenue and operating profit fell as COVID-19 had a prolonged impact on consumption.
Resort Group
Revenue: KRW 2.55Tn, down KRW 261Bn (9.3%↓) from KRW 2.81Tn in FY 2019
Operating Profit: KRW 21Bn, down KRW 122Bn (85.3%↓) from KRW 143Bn in FY 2019
The group’s revenue and operating profit fell in line with the negative effects of COVID-19 on the leisure market.
Q4 2020 Performance
Overall Performance
Revenue: KRW 8.18Tn, up KRW 484Bn (6.3%↑) from KRW 7.70Tn in Q4 2019
Operating Profit: KRW 256Bn, down KRW 69Bn (21.2%↓) from KRW 325Bn in Q4 2019
Engineering & Construction Group
Revenue: KRW 3.11Tn, up KRW 374Bn (13.7%↑) from KRW 2.74Tn in Q4 2019
Operating Profit: KRW 135Bn, down KRW 1Bn (0.7%↓) from KRW 136Bn in Q4 2019
Trading & Investment Group
Revenue: KRW 3.62Tn, up KRW 176Bn (5.1%↑) from KRW 3.44Tn in Q4 2019
Operating Profit: KRW 12Bn, down KRW 8Bn (40.0%↓) from KRW 20Bn in Q4 2019
Fashion Group
Revenue: KRW 470Bn, down KRW 15Bn (3.1%↓) from KRW 485Bn in Q4 2019
Operating Profit: KRW 9Bn, down KRW 21Bn (70.0%↓) from KRW 30Bn in Q4 2019
Resort Group
Revenue: KRW 610Bn, down KRW 113Bn (15.6%↓) from KRW 723Bn in Q4 2019
Operating Profit: KRW 18Bn, down KRW 25Bn (58.1%↓) from KRW 43Bn in Q4 2019
