2024.01.30
Samsung Engineering records operating profit of KRW 993.1 billion in 2023 Up 41.3% compared to 2022
- KRW 10.6 trillion in revenue, KRW 695.6 billion in net profit announced on 30th January
- KRW 2.8 tn in revenue, KRW 269.9 bn in operating profit, and KRW 112.4 bn net profit in Q4 2023
- Preparing for the future by investing KRW 370 billion in new business technology & innovation
Samsung Engineering, a
world leading engineering solutions and project management company, announced today,
through the provisional financial 2023 results today, a revenue of KRW 10.6
trillion, an operating profit of KRW 993.1 billion and a net profit of KRW 695.6
billion in the year of 2023 (on a consolidated basis and in accordance with the
K-IFRS). Compared to the previous year, the revenue increased by 5.7%, and operating profit and net profit increased by 41.3% and 16.8%, respectively.
New order was recorded at KRW 8.8 trillion and the total order backlog at KRW 16.8
tn in 2023.
In Q4 basis, revenue was KRW
2.8 trillion, operating profit was KRW 269.9 billion, and net profit was KRW 112.4
billion. Operating profit increased by 25.8%, while revenues and net profit
decreased by 3.8% and 37.5%, respectively, compared to Q4 in 2022.
Samsung Engineering has
achieved growth internally and externally, with quality overseas project
revenue reflected this term and cost reduction through innovation.
In addition, meaningful
results in preparing for the future by winning orders for FEED projects were
achieved, commencing full-scale hydrogen development projects, and signing
successive agreements with global companies in the energy and carbon capture
field.
Further, Samsung
Engineering also announced its business management forecast and investment plans
for 2024. Through its forecast disclosure, the company predicts this year KRW 12.6
trillion in new orders, KRW 10 trillion revenue, and KRW 800 billion in
operating profit.
Samsung Engineering revealed
that is plans to invest a total of KRW 370 billion, including KRW 200 billion
to promote business and secure technology in the fields of water electrolysis
source technology and KRW 130 billion into business performance innovation
areas such as design automation and robot automation, additional invests KRW 40
billion for automating and upgrading business processes.
A Samsung
Engineering spokesperson said, " We plan to continue to strengthen performance
competitiveness based on innovative technologies and therefore maintain a stable
performance.”
and added, “We will endure to secure, invest in, and commercialize
technology in the energy transition field for mid- to long-term sustainable
growth.”
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