Samsung C&T: Full Year 2021 and Fourth Quarter 2021 Results

Samsung C&T recorded revenue of KRW 34.455T and operating profit of KRW 1.196T for fiscal year 2021 on the back of steady and continuous growth through strengthening the company’s competitiveness and improving management effectiveness.

The company saw its revenue and operating profit increase in the fourth quarter of 2021 compared to the previous year, mainly due to improved profitability in the Trading & Investment group and the Fashion group, among other factors.

For fiscal year 2022, Samsung C&T has set its revenue target at 34.9 Tn KRW with 11.7 Tn KRW in new orders. The company will continue its efforts to promote solid growth centered on profitability.

Samsung C&T is expected to experience steady growth this year as high-quality projects won by Engineering & Construction Group have started in earnest while Trading & Investment Group and Fashion Group maintain profitability. In addition, the company will continue to make efforts to secure new business opportunities in areas such as organic and green fields to improve its overall performance.

Results for the 2021 financial year

Overall performance

  • Revenue: 34.455 Tn KRW, up 4.239 Tn KRW (14%↑) from 30.216 Tn KRW in FY20
  • Operating profit: KRW1,196,000, up KRW339bn (39.6%↑) from KRW857bn in FY2020

Revenue and operating profit increased year-on-year due to the enhanced business competitiveness of the Trading & Investment Group, improved management efficiency of the Fashion Group and the stable growth of the Bio subsidiary.

Engineering and Construction Group

  • Revenue: KRW10,989,000, down KRW713bn (6.1%↓) from KRW11,702,000,000 in FY2020
  • Operating profit: KRW251 billion, down KRW280 billion (52.7%↓) from KRW531 billion in FY2020
  • New orders: 13 KRW tonnes, exceeding 21% of 2021 target of 10.7 KRW tonnes

The group’s profit fell due to temporary losses caused by increased construction costs affecting its domestic thermal power generation project in the third quarter of 2021, while orders exceeded the annual target of 10 by 21%. .7 Tn KRW.

Trading and Investment Group

  • Revenue: 17.354 Tn KRW, up 4.102 Tn KRW (31%↑) from 13.252 Tn KRW in FY20
  • Operating profit: KRW 296 billion, up KRW 202 billion (214.9%↑) from KRW 94 billion in FY20

The group’s revenue and operating profit increased due to higher raw material prices and improved profitability thanks to the strengthening of its global commercial capacities.

fashion group

  • Revenue: KRW 1,767,000,000, up KRW 222 billion (14.4%↑) from KRW 1,545,000,000 in FY20
  • Operating profit: KRW 100 billion, up KRW 136 billion (377.8%↑) from a loss of KRW 36 billion in FY20

Group revenue and operating profit increased on the back of recovering consumer confidence, structural improvement through management efficiency and strong sales involving imported brands and enterprises in line.

Resort group

  • Revenue: KRW2,777,000, up KRW224bn (8.8%↑) from KRW2,553,000,000 in FY20
  • Operating profit: KRW 57 billion, up KRW 36 billion (171.4%↑) from KRW 21 billion in FY20

The group’s turnover and operating profit increased thanks to the recovery in demand in the leisure industry and the vigor of its golf activity.

Q4 2021 performance

Overall performance

  • Revenue: 9.765 Tn KRW, up 1.583 Tn KRW (19.4%↑) compared to 8.182 Tn KRW in the fourth quarter of 2020
  • Operating profit: KRW 327 billion, up KRW 71 billion (27.7%↑) from KRW 256 billion in Q4 2020

Engineering and Construction Group

  • Revenue: KRW 3,148,000, up KRW 37 billion (1.2%↑) from KRW 3,111,000,000 in Q4 2020
  • Operating profit: KRW 133 billion, down KRW 2 billion (1.5%↓) from KRW 135 billion in Q4 2020

Trading and Investment Group

  • Revenue: KRW 4,917,000, up KRW 1,301,000 (36%↑) from KRW 3,616,000 in Q4 2020
  • Operating profit: KRW 40 billion, up KRW 28 billion (233.3%↑) from KRW 12 billion in Q4 2020

fashion group

  • Revenue: KRW526 billion, up KRW56 billion (11.9%↑) from KRW470 billion in Q4 2020
  • Operating profit: KRW 20 billion, up KRW 11 billion (122.2%↑) from KRW 9 billion in Q4 2020

Resort group

  • Revenue: KRW 730 billion, up KRW 120 billion (19.7%↑) from KRW 610 billion in Q4 2020
  • Operating profit: Operating profit: KRW 17 billion, down KRW 1 billion (5.6%↓) from KRW 18 billion in Q4 2020

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