[Overall Performance]
Revenue: KRW 11.005T, Operating Profit: KRW 900B
[Revenue]
- Increased by KRW 419B (4.0%) compared to KRW 10.586T in Q2 2023
- Increased by KRW 209B (1.9%) compared to KRW 10.796T in Q1 2024
[Operating Profit]
- Increased by KRW 128B (16.6%) compared to KRW 772B in Q2 2023
- Increased by KRW 188B (26.4%) compared to KRW 712B in Q1 2024
Samsung C&T has maintained its performance in Q2 despite global uncertainties, owing to its diversified business portfolio and profitability in its four business segments.
The Engineering and Construction Group maintained its YoY (Year-over-Year) performance due to steady on-site project execution, while the Trading and Investment Group maintained stable QoQ (Quarter-over-Quarter) earnings due to trading competitiveness despite the global economic downturn.
The Fashion Group had a stable performance due to strong online business despite declining consumer sentiment and the Resort Group showed improved performance due to an increased demand for leisure activities and its strong food and beverage business.
Samsung C&T is exploring various business opportunities to secure new growth engines and expand its value chain. This includes participating in green hydrogen pilot projects in Korea and green hydrogen EPC projects overseas, as well as investing in innovative technologies and exploring new business opportunities within the next-generation biotherapeutics industry. These initiatives aim to further strengthen profitability and drive steady growth in the future.
Engineering and Construction Group
– Revenue: KRW 4.915T, Operating Profit: KRW 283B
[Revenue]
- Increased by KRW 164B compared to KRW 4.751T in Q2 2023
- Decreased by KRW 669B compared to KRW 5.584T in Q1 2024
[Operating Profit]
- Decreased by KRW 22B compared to KRW 305B in Q2 2023
- Decreased by KRW 54B compared to KRW 337B in Q1 2024
The Engineering and Construction Group increased its revenue YoY with good progress on large-scale projects in Korea and abroad. The group’s operating profit remained solid due to the stable execution of construction projects.
Trading and Investment Group
Revenue: KRW 3.399T, Operating Profit: KRW 72B
[Revenue]
- Decreased by KRW 117B compared to KRW 3.516T in Q2 2023
- Increased by KRW 493B compared to KRW 2.906T in Q1 2024
[Operating Profit]
- Decreased by KRW 42B compared to KRW 114B in Q2 2023
- Decreased by KRW 13B compared to KRW 85B in Q1 2024
The Trading and Investment Group’s revenue increased QoQ due to higher copper trading volumes. Despite the challenges of unstable external environments and a slowdown in steel demand, the group delivered a stable performance this quarter.
Fashion Group
– Revenue: KRW 513B, Operating Profit: KRW 52B
[Revenue]
- Decreased by KRW 11B compared to KRW 524B in Q2 2023
- Decreased by KRW 4B compared to KRW 517B in Q1 2024
[Operating Profit]
- Decreased by KRW 5B compared to KRW 57B in Q2 2023
- Decreased by KRW 2B compared to KRW 54B in Q1 2024
The Fashion Group had a stable performance in Q2 with its product competitiveness and strong online business despite declining consumer sentiment and the impact of the off-season period.
Resort Group
– Revenue: KRW 1.021T, Operating Profit: KRW 66B
[Revenue]
- Increased by KRW 92B compared to KRW 929B in Q2 2023
- Increased by KRW 179B compared to KRW 842B in Q1 2024
[Operating Profit]
- Increased by KRW 17B compared to KRW 49B in Q2 2023
- Increased by KRW 45B compared to KRW 21B in Q1 2024
The Resort Group delivered increased revenue and operating profit YoY, driven by increased visitors due to external IP collaborations and panda-related content, as well as the continued strength of its F&B business.
