Sales and operating profit at Samsung C&T's construction division fell year over year in the third quarter as large domestic and overseas projects, including high-tech, wrapped up.
According to the Financial Supervisory Service's electronic disclosure system on the 28th, third-quarter sales at Samsung C&T's construction division were 3.09 trillion won, down 1.392 trillion won (31.1%) from a year earlier. Operating profit for the same period was 111 billion won, down 125 billion won (52.9%).
Compared with the previous quarter, sales fell 8.9% and operating profit fell 5.9%.
The operating margin was 3.6% in the third quarter, down from 5.3% a year earlier but improved from 3.5% in the previous quarter.
A company official said, "Sales and operating profit decreased as large-scale projects, including high-tech, were completed."
Samsung C&T's construction division booked 7.405 trillion won in orders in the third quarter. It won the Dukhan solar project in Qatar and the P4 plant at the Pyeongtaek campus of Samsung Electronics. The scale of secured construction rights for dwellings is 1.8 trillion won. Samsung C&T took on the Gaepo Woosung 7th, Mullae-dong 4-ga, Sinjeong 1152, and Samho Garden 5th projects.
Cumulative orders for Samsung C&T's construction division this year total 12.21 trillion won. The total order backlog is 29.685 trillion won.
Meanwhile, Samsung C&T's overall business divisions posted third-quarter sales of 10.151 trillion won and operating profit of 994 billion won. Sales fell 1.5% from a year earlier, but operating profit rose 34.9%. The third-quarter operating margin was 9.8%.
A Samsung C&T official said, "Although there are business-specific impacts from an uncertain domestic and overseas management environment, we maintained stable results based on a diversified business portfolio."