SAMSUNG E&A

- KRW 2.317 trillion in revenue, KRW 158.2 billion in net profit announced on 24th October

- Thorough profit and loss management and application of innovative technologies… Solid performance flow

- Continue on profitability-focused new orders… Accelerate new energy transition businesses

SAMSUNG E&A (formerly Samsung Engineering), a total solutions provider for the global energy industry, announced today that it recorded revenue of KRW 2.317 trillion, operating profit of KRW 203.9 billion, and net profit of KRW 158.2 billion as a result of the provisional results for the third quarter of 2024 (on a consolidated basis and under the K-IFRS). Revenue decreased by 6.5%, while operating profit and net profit increased by 32.9% and 1.5%, respectively, compared to the same period last year. Cumulatively for all three quarters, it recorded revenue of KRW 7.388 trillion, operating profit of KRW 675.9 billion, and net profit of KRW 527.6 billion.

SAMSUNG E&A explained the performance background, explaining: “Despite certain uncertainties from marketing dynamics, we applied innovative technologies to projects and focused on further improving its stable profit structure.” Further said: “The profit margin improved due to the final settlement of major hydrocarbon projects and cost improvement, as the stable profit structure of the industrial environment sector continued.”

In the third quarter, new orders totaled KRW 592.4 billion, bringing the cumulative orders for the year to KRW 11.5 trillion—91.3% of the annual target of KRW 12.6 trillion. Consequently, the company has an order backlog of KRW 21.9 trillion as of the end of the third quarter, ensuring a robust workload equivalent to approximately two years of last year's revenue.

A SAMSUNG E&A spokesperson said, “"Leveraging our substantial order backlog, we intend to maintain our profitability-focused order strategy, including our approach from FEED to EPC. Additionally, we will expedite the development of new businesses in the hydrogen and carbon-neutral sectors during this energy transition, further solidifying our foundation for sustainable growth in the mid to long term."