Overall Performance
Revenue: KRW 10.796T, Operating Profit: KRW 712B
- Year-over-Year (YoY) comparison:
Revenue increased by KRW 557B (5.4%) from KRW 10.239T in Q1 2023,
operating profit increased by KRW 71B (11.1%) from KRW 641B in Q1 2023
- Quarter-over-Quarter (QoQ) comparison:
Revenue increased by KRW 696B (6.9%) from KRW 10.100B in Q4 2023,
operating profit increased by KRW 85B (13.6%) from KRW 627B in Q4 2023
Amid increased global economic uncertainty, Samsung C&T posted an improved overall performance in Q1 on the back of continued strong profitability resulting from the differentiated competitiveness of its business groups.
The Engineering & Construction Group saw increased revenue and operating profit as large-scale projects worldwide showed good progress, while the Trading & Investment Group witnessed an improved QoQ performance from its business growth and enhanced profitability through strengthened competitiveness.
The Fashion Group continued its YoY performance by maintaining product competitiveness and the Resort Group enjoyed an improved quarter due to its strong overall park performance and the expansion of its food distribution business.
As uncertainty continues to grow in the second quarter, the company will strive to maintain a steady performance by building on its improved fundamentals and solid profit base.
Engineering & Construction Group
Revenue: KRW 5.584T, Operating Profit: KRW 337B
– YoY comparison:
Revenue rose by KRW 984B (21.4%) from KRW 4.600T in Q1 2023,
operating profit rose by KRW 45B (15.4%) from KRW 292B in Q1 2023
– QoQ comparison:
Revenue rose by KRW 906B (19.4%) from KRW 4.678T in Q4 2023,
operating profit rose by KRW 202B (149.6%) from KRW 135B in Q4 2023
The Engineering & Construction Group posted increased revenue and operating profit in both YoY and QoQ terms on the back of continued efforts to maintain a balanced portfolio and enhance competitiveness, in addition to the full-fledged commencement of recently awarded high-quality large-scale projects.
Trading & Investment Group
Revenue: KRW 2.906T, Operating Profit: KRW 85B
– YoY comparison:
Revenue fell by KRW 698B (-19.4%) from KRW 3.604T in Q1 2023,
operating profit fell by KRW 14B (-14.1%) from KRW 99B in Q1 2023
– QoQ comparison:
Revenue rose by KRW 15B (0.5%) from KRW 2.891T in Q4 2023,
operating profit fell by KRW 28B (49.1%) from KRW 57B in Q4 2023
The Trading & Investment Group’s YoY performance fell slightly due to a drop in commodity prices, as well as a decrease in volume stemming from its exit from low-profit business partners, while its QoQ performance rose as strengthened competitiveness drove its business growth and enhanced profitability.
Fashion Group
Revenue: KRW 517B, Operating Profit: KRW 54B
– YoY comparison:
Revenue fell by KRW 9B (-1.7%) from KRW 526B in Q1 2023,
operating profit rose by KRW 3B (-5.3%) from KRW 57B in Q1 2023
– QoQ comparison:
Revenue fell by KRW 28B (-5.1%) from KRW 545B in Q4 2023,
operating profit rose by KRW 8B (17.4%) from KRW 46B in Q4 2023
Despite the impacts of a drop in consumer confidence in Korea and seasonality, the Fashion Group’s performance was maintained at a similar level to the previous year through brand and product competitiveness.
Resort Group
Revenue: KRW 842B, Operating Profit: KRW 21B
– YoY comparison:
Revenue rose by KRW 54B (6.9%) from KRW 788B in Q1 2023,
operating profit rose by KRW 14B (200%) from KRW 7B in Q1 2023
– QoQ comparison:
Revenue fell by KRW 70B (-7.7%) from KRW 912B in Q4 2023,
operating profit fell by KRW 25B (-54.4%) from KRW 46B in Q4 2023
The Resort Group’s revenue and operating profit grew YoY on the back of its improved park performance and the expansion of its food distribution business.
