Samsung E&A reported on the 23rd that its annual revenue for last year was 9.9666 trillion won, operating profit was 971.6 billion won, and net profit was 638.7 billion won. Revenue, operating profit, and net profit decreased by 6.2%, 2.2%, and 8.2%, respectively, compared to the previous year. However, the annual operating profit target of 800 billion won was exceeded. In the fourth quarter, revenue was 2.5785 trillion won, operating profit was 295.8 billion won, and net profit was 111 billion won. Compared to the same period last year, operating profit increased by 9.6%, while revenue and net profit decreased by 8.8% and 1.2%, respectively.
Samsung E&A noted, "The application of differentiated execution systems such as modularization and automation, along with profitability-centered cost management, has improved the profits of major chemical engineering projects, and the institutional sector has maintained a stable revenue structure."
The orders reached approximately 2.9 trillion won in the fourth quarter, and about 14.4 trillion won for the entire year of 2024, setting the record for the largest order value to date. The order backlog recorded approximately 21.3 trillion won, securing work equivalent to 2 years and 2 months based on last year's revenue. Major orders include a gas plant in Saudi Arabia, a bio-refinery plant in Malaysia, and a petrochemical plant in Qatar. Samsung E&A assessed it as "a year that achieved significant results, including the largest order size ever and the first entry into the sustainable aviation fuel market."
Meanwhile, Samsung E&A announced a three-year shareholder return policy. The company stated that it plans to implement shareholder returns of 15% to 20% of its controlling interest net profit over the next three years (2024-2026). Accordingly, it was decided to distribute a cash dividend of 660 won per common share for the 2024 settlement of account. The total amount of dividends is approximately 129.4 billion won, with a dividend yield of 3.9%, marking the first dividend decision in 12 years.
A Samsung E&A official stated, "Based on the abundant order backlog, we plan to continue stable growth through differentiated execution systems and thorough project management," adding that it will continue to pursue a profitability-centered revenue strategy and accelerate the promotion of new businesses in the energy transition sector to strengthen the foundation for sustainable long-term growth.