Samsung C&T's trading division said on the 28th that on a consolidation basis last year it posted 14.636 trillion won in revenue and 272 billion won in operating profit.
Revenue rose 12.6% from the previous year (12.997 trillion won), while operating profit fell 9.3% from the previous year (300 billion won). Annual gains from sales of solar power development projects came to $79 million.
Samsung C&T said, "Despite increased uncertainty from the spread of protectionism and intensifying competition, revenue grew as we expanded sales, but operating profit decreased somewhat."
In the fourth quarter last year, revenue totaled 3.54 trillion won and operating profit was 53 billion won. Compared with the previous quarter, they fell 8.9% and 30.3%, respectively.
Both revenue and operating profit declined due to market shifts and weakening demand stemming from the materialization of trade barriers worldwide.
A Samsung C&T official said, "The trading division will actively expand the value chain for essential industrial materials trading such as steel, fertilizers and nonferrous metals," adding, "We will accelerate growth in new and renewable energy businesses such as solar power and energy storage systems (ESS), and push to discover and expand new businesses in Tech fields such as semiconductor materials, parts and equipment."