SAMSUNG E&A

SAMSUNG E&A, a total solutions provider for the global energy industry announced today through the provisional financial results disclosure, a revenue of KRW 9.97 trillion, an operating profit of KRW 971.6 billion, and a net profit of KRW 638.7 billion in the year 2024 (on a consolidated basis and by the K-IFRS). Although revenue, operating profit, and net profit decreased by 6.2%, 2.2%, and 8.2%, respectively, compared to 2023, it exceeded its annual operating profit target of KRW 800 billion. On a Q4 basis, revenue was KRW 2.58 trillion, operating profit was KRW 295.8 billion, and net profit was KRW 111.0 billion. Operating profit increased by 9.6% year-on-year, while revenue and net profit decreased by 8.8% and 1.2%, respectively.

SAMSUNG E&A attributed its performance to the application of differentiated execution systems such as modularization and automation, along with profitability-focused cost management, which improved profits in major hydrocarbon projects. Additionally, the industrial and environmental sectors maintained stable profit structures.

New orders were approximately KRW 2.9 trillion in the fourth quarter and approximately KRW 14.4 trillion for the year 2024, the largest ever. With an order backlog of approximately KRW 21.3 trillion, it secured abundant work equivalent to two years and two months based on last year’s revenue. Major orders included a gas plant in Saudi Arabia, a biofuel plant in Malaysia, and a petrochemical plant in Qatar. Notable achievements included securing the largest order in its history and entering the sustainable aviation fuel (SAF) market for the first time.

A spokesperson from SAMSUNG E&A stated, "We plan to continue stable growth by leveraging our robust order backlog, differentiated execution systems, and thorough project management," adding, "We will maintain a profitability-focused bidding strategy and accelerate the advancement of new businesses in the energy transition sector to strengthen our foundation for sustainable growth in the mid to long term."