Samsung C&T (028260) Q2 2025 earnings summary

Executive summary

• 2Q25 consolidated sales reached KRW 10,022 bn, up KRW 285 bn from 1Q25 but down KRW 983 bn year-over-year.

• Operating profit for 2Q25 was KRW 753 bn, a sequential increase of KRW 29 bn but a decrease of KRW 147 bn compared to 2Q24.

• Net profit for 2Q25 was KRW 527 bn, down KRW 410 bn from 1Q25 and KRW 207 bn lower year-over-year.

• The report covers the semi-annual period ending June 30, 2025, and includes consolidated and separate financial statements, segment analysis, risk management, and major events.

• The company operates globally across construction, trading, fashion, resort, food distribution, and bio businesses, with 132 consolidated subsidiaries.

Financial highlights

• Consolidated revenue for H1 2025 was KRW 19,758.9 billion, with operating income of KRW 1,477.0 billion.

• Net income attributable to controlling interests was KRW 1,085.5 billion; basic EPS was KRW 6,633.

• Gross profit for 2Q25 was KRW 1,801 bn, up KRW 48 bn sequentially but down KRW 112 bn year-over-year.

• SG&A expenses increased to KRW 1,048 bn in 2Q25, up KRW 19 bn from 1Q25 and KRW 35 bn from 2Q24.

• Total assets at end-2Q25 were KRW 64,766 bn, up KRW 2,308 bn from 1Q25.

Outlook and guidance

• Raised 2025 annual sales guidance for Bio segment, expecting YoY growth of 25-30% (up from 20-25%) due to increased ramp-up of Plant 4.

• The company maintains a stable dividend policy, targeting 60–70% of affiliate dividend income and a minimum payout per share.

• Ongoing focus on global expansion, new business areas (hydrogen, platform, bio), and digital transformation.

• Market conditions remain challenging due to global economic uncertainty, but the company expects steady performance through portfolio diversification.