Samsung E&A announced on the 24th that its provisional consolidated results for the first quarter of this year showed sales of 2.098 trillion won, operating profit of 157.3 billion won, and net profit of 157.2 billion won. Compared to the same period last year, sales, operating profit, and net profit decreased by 12.0%, 24.9%, and 4.2%, respectively, but maintained the performance level announced in the annual outlook at the beginning of the year.
New orders in the first quarter amounted to 2.4 trillion won, with a backlog equivalent to 21.4 trillion won, which corresponds to 2 years and 2 months of last year's sales. Samsung E&A explained that significant achievements include securing new customers through methanol and biodegradable plastic project orders in the UAE, marking entry into the Middle East's first eco-friendly plastic plant market.
A Samsung E&A official explained the background of the results by noting that, 'Stable profit margins were maintained due to project profit management and cost reduction efforts,' and stated, 'From the second half of this year, when revenue from the Saudi Fadhili gas plant ordered last year is fully reflected, we expect performance to recover and achieve the annual goal.'
Additionally, the official said, 'We plan to continue stable growth by focusing on project management and solid management based on a profitability-centered order strategy,' and noted, 'We will secure differentiated EPC (Engineering, Procurement, and Construction) execution competitiveness through innovative technologies such as modularization, artificial intelligence (AI), and automation, and actively invest in future new businesses based on energy transition to strengthen the foundation for medium- to long-term sustainable growth.'