Samsung C&T (028260) Q3 2025 earnings summary

Executive summary

• Achieved 3Q25 sales of KRW 10,151 bn, up KRW 129 bn YoY, with operating profit at KRW 994 bn, up KRW 241 bn YoY.

• Net profit rose to KRW 885 bn, a KRW 358 bn increase YoY, driven by strong Bio and F&B segments.

• Revenue for the nine months ended September 30, 2025, was KRW 29.91 trillion, with operating income of KRW 2.47 trillion and net income attributable to owners of the parent at KRW 1.65 trillion.

• The company operates across construction, trading, fashion, resort, food/foodservice, and bio segments, with construction and trading comprising the largest revenue shares.

• Maintains a strong balance sheet with total assets of KRW 74.31 trillion and equity of KRW 48.27 trillion as of September 30, 2025.

Financial highlights

• YTD sales reached KRW 29,910 bn, down KRW 2,201 bn YoY, but operating profit YTD increased by KRW 123 bn.

• Gross profit for 3Q25 was KRW 2,051 bn, up KRW 250 bn YoY.

• Non-operating profit improved by KRW 174 bn YoY, with financial profit up KRW 38 bn.

• Revenue decreased YoY from KRW 42.10 trillion to KRW 29.91 trillion for the nine-month period, reflecting a contraction in construction and trading sales.

• Cash and cash equivalents at period end were KRW 4.08 trillion.

Outlook and guidance

• E&C annual new order guidance set at KRW 5.0 tn, with 3Q25 new orders already at KRW 7.4 tn.

• Focus on expanding global business in F&B and Bio, and leveraging new partnerships in SMR and solar PV.

• The company expects continued challenges in construction and trading due to global economic uncertainty, high interest rates, and geopolitical risks.

• Domestic construction market expected to remain flat, with slight growth anticipated in 2026 as interest rates ease.

• Stable dividend policy, targeting a payout of 60–70% of affiliate dividend income and a minimum of KRW 2,000 per share annually through 2025.