Samsung C&T Q2 2022 earnings

Overall Performance

  • Revenue: KRW 10.819T, up KRW 2.271T (26.6%↑) from KRW 8.548T in Q2 2021
  • Operating Profit: KRW 556B, up KRW 131B (30.8%↑) from KRW 425B in Q2 2021

Despite the adverse business environment, Samsung C&T’s overall revenue and operating profit in Q2 grew as the company’s efforts to improve its fundamental competitiveness bore fruit.

The Trading & Investment Group achieved a continuous increase in profitability by enhancing its distinctive competitiveness and preemptive risk management while maintaining its ‘select and focus’ business strategy. The Fashion Group’s performance also improved as recovering consumer confidence led to strong sales in all business areas. The Engineering & Construction Group posted good results with construction for large-scale projects getting underway, while subsidiary BioLogics continued to contribute to the company’s bottom line through increased plant capacity utilization. Meanwhile, the Engineering & Construction Group recorded KRW 8.6T in new orders (73.5% of its annual target of KRW 11.7T) in the first half.

In the second half of the year, as heightened volatility persists, Samsung C&T will strive to maintain a steady performance through efforts to secure a firm profit base.

Engineering & Construction Group

  • Revenue: KRW 3.359T, up KRW 700B (26.3%↑) from KRW 2.659T in Q2 2021
  • Operating Profit: KRW 155B, up KRW 42B (37.2%↑) from KRW 113B in Q2 2021

Revenue and operating profit grew year-over-year (yoy) as construction for large-scale projects began in earnest.

Trading & Investment Group

  • Revenue: KRW 5.415T, up KRW 1.118T (26.0%↑) from KRW 4.297T in Q2 2021
  • Operating Profit: KRW 129B, up KRW 39B (43.3%↑) from KRW 90B in Q2 2021

Revenue and operating profit grew yoy as a result of qualitative growth in the group’s overall business achieved by actively responding to demand for core products and from high-quality business partners, in addition to other strategies such as diversifying the group’s functions offered to customers.

Fashion Group

  • Revenue: KRW 515B, up KRW 71B (16.0%↑) from KRW 444B in Q2 2021
  • Operating Profit: KRW 62B, up KRW 19B (44.2%↑) from KRW 43B in Q2 2021

Revenue and operating profit grew yoy on the back of an overall strong performance driven by a recovery in consumer confidence.

Resort Group

  • Revenue: KRW 875B, up KRW 139B (18.9%↑) from KRW 736B in Q2 2021
  • Operating Profit: KRW 56B, up KRW 32B (133.3%↑) from KRW 24B in Q2 2021

Revenue and operating profit grew yoy due to a partial recovery in park demand and a strong performance in the group’s golf business.

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