Revenue: KRW 10.239T, down KRW 201B (1.9%↓) from KRW 10.44T in Q1 2022
Operating Profit: KRW 641B, up KRW 99B (18.3%↑) from KRW 542B in Q1 2022
Despite continued global economic uncertainty, Samsung C&T posted improvements in overall performance in Q1 2023 as it maintained solid profitability on the back of the differentiating competitiveness of each business group.
The Engineering & Construction Group posted improved performance as high-quality projects began in earnest, while the Trading & Investment Group maintained steady performance due to business expansions led by strengthened business competitiveness and improved underlying profitability. The Fashion Group recorded strong sales in most of its business areas thanks to continuous improvement in product development, while the Resort Group also saw improvements in performance due to an increase in leisure demand. The Engineering & Construction Group’s new orders for Q1 stood at KRW 6.1T, or 44% of the annual target of KRW 13.8T.
In Q2, as external volatility continues to grow, the company will strive to maintain a steady performance by establishing a solid profit base on its improved business fundamentals.
Engineering & Construction Group
Revenue: KRW 4.6T, up KRW 1.581T (52.4%↑) from KRW 3.019T in Q1 2022
Operating Profit: KRW 292B, up KRW 137B (88.4%↑) from KRW 155B in Q1 2022
Revenue and operating profit grew year-over-year amid commencement of recently acquired large-scale projects.
Trading & Investment Group
Revenue: KRW 3.604T, down KRW 2.177T (37.7%↓) from KRW 5.781T in Q1 2022
Operating Profit: KRW 99B, down KRW 91B (47.9%↓) from KRW 190B in Q1 2022
The Trading & Investment Group realized solid performance as a result of its efforts to expand business areas and improve efficiency. While year-over-year performance fell due mainly to the base effect of the previous year, the group recorded strong performance compared to the previous quarter.
Revenue: KRW 526B, up KRW 52B (11.0%↑) from KRW 474B in Q1 2022
Operating Profit: KRW 57B, up 15B (35.7%↑) from KRW 42B in Q1 2022
Revenue and operating profit increased year-over-year as the group achieved strong performance in most business areas from continued improvements in product development and sales structure.
Revenue: KRW 788B, up KRW 133B (20.3%↑) from KRW 655B in Q1 2022
Operating Profit: KRW 7B, up KRW 17B from KRW -10B in Q1 2022
Revenue and operating profit grew year-over-year driven by a recovery in profits amid an increase in leisure demand.