Samsung C&T's construction division surpassed 1 trillion won in operating profit last year. This achievement comes amidst a construction downturn, marking a second consecutive year of reaching 1 trillion won in operating profit.
Samsung C&T's construction division reported an operating profit of 1 trillion 10 billion won on the 22nd. This figure represents a decrease of 3.19% (33 billion won) compared to the previous year. During the same period, sales decreased by 3.39% (655 billion won) to 18 trillion 655 billion won.
This performance meets market expectations. Financial investment circles anticipated that Samsung C&T's construction division would record sales in the 19 trillion won range and an operating profit around 1 trillion won last year. While sales fell slightly short, the operating profit was similar to market predictions.
A Samsung C&T construction division official noted, "Although sales and profits slightly decreased compared to the previous year due to external environmental changes, we maintained solid performance based on a revenue-centered portfolio."
In the fourth quarter of last year, sales sharply declined, but operating profit showed slight improvement. The operating profit for Samsung C&T's construction division in the fourth quarter was 145 billion won, an increase of 7.41% (10 billion won) compared to the same period last year. However, sales amounted to 3 trillion 674 billion won, a decrease of 21.46% (1 trillion 40 billion won) from the same period the previous year.
A Samsung C&T official commented, "Although sales decreased due to entering the completion phase of large projects, we maintained solid profitability and increased operating profit compared to the same period last year."
This year, Samsung C&T's construction division plans to enhance profitability by expanding technology-specialized products in areas such as airports, data centers, and metros, and to establish a sustainable business foundation through successful new project outcomes. The goal is to secure construction contracts for dwellings worth 5 trillion won, with plans to pursue 1 trillion 900 billion won in technology-specialized products and 1 trillion 700 billion won in new businesses, achieving a total order performance of 18 trillion 600 billion won.
Meanwhile, Samsung C&T's overall performance showed robust results with sales of 42 trillion 103 billion won and an operating profit of 2 trillion 984 billion won.
Samsung C&T decided on that day to distribute cash dividends of 2,600 won per common share and 2,650 won per preferred share. The total amount of dividends reached 425 billion 524 million won, resulting in a dividend yield of 2.2% for common shares and 3.0% for preferred shares. Additionally, Samsung C&T has decided to retire 7 million 807 thousand 563 of its own shares, with a scheduled repurchase amount of 932 billion 223 million won.