SAMSUNG ENGINEERING CO., LTD. Disclaimer
The financial information in this document represents the consolidated earnings result based on K-IFRS. This document is provided for the convenience of investors only, before our external audit on 1Q 2024 financial results of our headquarters is completed. Th e a u di t o u tc o m es m a y c a u s e s om e pa r t s of t h i s do c umen t to c h a n ge. The audited figures of Samsung E&A are slated to be announced as part of 1Q 2024 results by May. 16 2024.
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Contents
Results Highlights
- 1Q24 Performance Highlight
- Performance Comparison
Business Updates
- New Orders & Order Backlogs
- Sales / Gross Profit
- SG&A / Operating Profit
Financial Statement
- Income Statement
- Balance Sheet
Attachment
• Hydrocarbon EPC Order Pipeline
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Results Highlight
- 1Q24 Performance Highlight (KRW)
New Orders | Sales | GP (GPM) | OP (OPM) |
336.9 Bn | 209.3 Bn | ||
1.4 Tn | 2.4 Tn | ||
(14.1%) | (8.8%) | ||
Performance results compared to the annual guidance: New orders 11%, Sales 24%, OP 26%
Achieved GPM 14.1%, OPM 8.8%
Achieved stable OP thanks to successful execution of major projects
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Results Highlight
- Performance Comparison (KRW)
· New Orders 1.4 Tn(△32.7% YoY), Sales 2.4 Tn (△5.9% YoY), OP 209.3 Bn (△7.1% YoY)
Hydrocarbon Non-Hydrocarbon
2,102.7 2,034.2
1,414.1
Hydrocarbon
GPM
12.7%
2,533.5
Non-Hydrocarbon
14.6% 14.1%
2,827.4
2,384.7
(KRW Bn)
OP OPM
8.9% 9.5% 8.8%
269.8
95.7% 90.2%
95.1%
4.3%9.8%4.9%
57.6%,
1,459.2
42.4%,
1,074.3
63.1%,
1,784.9 60.5%,
1,443.2
36.9%, 39.5%,
1,042.5 941.5
225.4
209.3
'23.1Q '23.4Q '24.1Q
'23.1Q '23.4Q '24.1Q
'23.1Q '23.4Q '24.1Q
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Business Updates (Quarter)
- New Orders & Order Backlogs (KRW)
- New Orders : 1.4 Tn (Hydrocarbon 0.1, Non-Hydrocarbon 1.3 / 32.7% YoY, △30.5% QoQ)
- Order Backlogs : 16.0 Tn
(KRW Bn)
New Ordr(Non Hydrocarbon) New Order(Hydrocarbon)
2,102.7 2,034.2
1,414.1
95.7%90.2%
95.1%
4.3% | 9.8% | 4.9% |
'23.1Q '23.4Q '24.1Q
Hydrocarbon | Non-Hydrocarbon | [Global Order Backlogs(%)] | ||||||||
17,989.8 | 16,817.6 | |||||||||
15,985.2 | Europe | |||||||||
32.5%, | ||||||||||
(19%) | S.Korea | |||||||||
5,842.1 | 42.5%, | America | ||||||||
43.6%, | MENA | (30%) | ||||||||
7,146.8 | (11%) | (32%) | ||||||||
6,962.4 | Asia | |||||||||
(8%) | ||||||||||
67.5%, | ||||||||||
12,137.7 | 57.5%, | 56.4%, | ||||||||
9,670.8 | 9,022.8 | | Hydrocarbon(100%): Refinery 44%, Petrochem 38%, Gas18% | |||||||
- Non-Hydrocarbon(100%) :Samsung Group 73.3%
'23.1Q '23.4Q '24.1Q
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Business Updates (Quarter)
- Sales / Gross Profit (KRW)
- Hydrocarbon : Sales 0.9 Tn (△12.4% YoY, △9.7% QoQ), GP 149.0 Bn (+40.0% YoY, △14.8% QoQ), GPM 15.8% (+5.9%p YoY, △1.0%p QoQ)
- Non-Hydrocarbon :Sales 1.5 Tn (△1.1% YoY, △19.1% QoQ), GP 187.9 Bn (△13.2% YoY, △20.8% QoQ), GPM 13.0% (△1.8%p YoY, △0.3%p QoQ)
- 1Q24 (Total) : Sales 2.4 Tn (△5.9% YoY, △15.7% QoQ), GP 336.9 Bn (+4.4% YoY, △18.2% QoQ), GPM 14.1% (+1.4%p YoY, △0.5%p QoQ)
(KRW Bn)
Sales(Total) | GP(Total) | GPM(Total, %) | ||||
12.7% | 14.6% | 14.1% | ||||
2,533.5 | 2,827.4 |
2,384.7 | |
322.8 | 412.1 | 336.9 |
'23.1Q '23.4Q '24.1Q
[Hydrocarbon]
Sales(Hydrocarbon) GP(Hydrocarbon) GPM(Hydrocarbon,%)
16.8% 15.8%
9.9%
1,074.3 1,042.5
941.5
106.4 174.8 149.0
'23.1Q '23.4Q '24.1Q
[Non Hydrocarbon]
Sales(NonHydrocarbon) GP(NonHydrocarbon) GPM(NonHydrocarbon,%)
14.8% 13.3% 13.0%
1,784.9
1,459.21,443.2
216.4 237.3 187.9
'23.1Q '23.4Q '24.1Q
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Business Updates (Quarter)
- SG&A / Operating Profit (KRW)
· SG&A 127.6 Bn (+31.0% YoY, △10.3% QoQ), SG&A Ratio 5.4% (+1.6%p YoY, +0.4%p QoQ) | |||||
· OP 209.3 Bn (△7.1% YoY, △22.4% QoQ), OPM 8.8% (△0.1%p YoY, △0.7%p QoQ) | |||||
(KRW Bn) | |||||
SG&A | SG&A Ratio(%) | OP | OPM(%) | ||
8.9% | 9.5% | 8.8% | |||
5.0% | 5.4% | 269.8 | |||
3.8% | |||||
225.4 | |||||
142.3 | 209.3 | ||||
127.6 | |||||
97.4 | |||||
'23.1Q | '23.4Q | '24.1Q | '23.1Q | '23.4Q | '24.1Q |
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Financial Statement
- Income Statement
(KRW Bn) | ||||||
'23.1Q | '23.4Q | FY 2023 | '24.1Q | YoY | QoQ | |
Sales | 2,533.5 | 2,827.4 | 10,624.9 | 2,384.7 | △5.9% | △15.7% |
Gross Profit | 322.8 | 412.1 | 1,450.8 | 336.9 | 4.4% | △18.2% |
GPM(%) | (12.7%) | (14.6%) | (13.7%) | (14.1%) | (1.4%p) | (△0.5%p) |
SG&A | 97.4 | 142.3 | 457.7 | 127.6 | 31.0% | △10.3% |
(%) | (3.8%) | (5.0%) | (4.3%) | (5.4%) | (1.6%p) | (0.4%p) |
Operating Profit | 225.4 | 269.8 | 993.1 | 209.3 | △7.1% | △22.4% |
OPM (%) | (8.9%) | (9.5%) | (9.3%) | (8.8%) | (△0.1%p) | (△0.7%p) |
Earnings Before Tax | 222.3 | 171.2 | 932.6 | 219.5 | △1.3% | 28.2% |
Margin(%) | (8.8%) | (6.1%) | (8.8%) | (9.2%) | (0.4%p) | (3.1%p) |
Net Profit | 175.9 | 112.4 | 695.6 | 164.1 | △6.7% | 46% |
Margin(%) | (6.9%) | (4.0%) | (6.5%) | (6.9%) | (0.0%p) | (2.9%p) |
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Financial Statement | ||||
□ Balance Sheet | (KRW Bn) | |||
FY 2023 | 1Q24 | Change | ||
Total Assets | 7,801.4 | 7,969.0 | 2.1% | |
Current Assets | 5,965.4 | 6,115.4 | 2.5% | |
Non-current Assets | 1,836.0 | 1,853.6 | 1.0% | |
Total Liabilities | 4,503.1 | 4,444.0 | △1.3% | |
Current Liabilities | 4,217.0 | 4,163.5 | △1.3% | |
Long-term Liabilities | 286.1 | 280.5 | △2.0% | |
Total Equities | 3,298.3 | 3,525.0 | 6.9% | |
Capital Stock | 980.0 | 980.0 | 0.0% | |
Retained Earnings | 2,430.3 | 2,592.3 | 6.7% | |
Other Capital Adjustments | △112.0 | △47.3 | 57.8% | |
Debt/Equity(%) | 136.5% | 126.1% | △10.4%p | |
Net Cash
1,351.4
1,291.7
△4.4%
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Disclaimer
Samsung E&A Co. Ltd. published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 04:49:07 UTC.
