Samsung C&T Corporation posted its consolidated earnings for the first quarter of 2019 on April 24, Korean local time.
Overall, the company recorded KRW 7.357 tn in revenue, a 1.6% (KRW 119 bn) decrease from KRW 7.476 tn in Q1 2018. Operating profit was KRW 105 bn, down by 49.7% (KRW 104 bn) from KRW 209 bn in Q1 2018.
※ Consolidated earnings include revenue (KRW 125 bn) and operating profit (KRW △35 bn) of Samsung Biologics, a subsidiary of Samsung C&T
The year-on-year (YoY) decrease in revenue was mainly due to completion/near completion of infrastructure and plant projects (Engineering & Construction Group) and accumulated effects of falling raw material prices (Trading & Investment Group). Operating profit fell as one-time costs, i.e. arbitration results for overseas construction projects, were reflected, amid performance improvements in the Fashion and Resort groups.
Looking forward, despite the adverse business environment, Samsung C&T will seek to enhance profitability through maintaining its emphasis on efficiency/solid growth and through improving the competitiveness of its products and services.
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