Samsung E&A (A028050) Q3 2025 earnings summary

Executive summary

• Achieved year-to-date new orders of KRW 4.1T (+64.5% YoY), sales of KRW 6.3T (+15.1% YoY), and operating profit of KRW 514.7B (+23.8% YoY), with a strong order backlog and major project execution.

• Operating profit margin reached 8.2% and gross profit margin 14.6% year-to-date.

• Net income attributable to owners was KRW 433.2B, down from KRW 756.9B YoY.

• Revenue for the nine months ended September 30, 2025, was KRW 6,271.6B, down from KRW 9,966.6B YoY.

• Maintained strong order backlog and continued execution of major domestic and overseas projects.

Financial highlights

• 3Q25 sales were KRW 1.99T, down 8.4% QoQ but up 13.9% YoY; gross profit was KRW 308.7B, down 1.7% QoQ but up 7.5% YoY.

• Net profit for 3Q25 was KRW 157.4B, up 11.1% QoQ and 10.5% YoY; net margin improved to 7.9%.

• SG&A expenses for 3Q25 were KRW 132.2B, up 1.8% YoY; SG&A ratio increased to 6.6%.

• Debt/equity ratio improved to 101.7% from 157.0% in FY 2024; net cash increased 6.7% to KRW 3.19T.

• Cash and cash equivalents at period end were KRW 1,126.3B, down from KRW 2,595.7B at the previous year-end.

Outlook and guidance

• Year-to-date, new orders achieved 36% of annual guidance, sales 66%, and operating profit 74%.

• Shareholder return policy targets 15–20% of net income for 2024–2026.

• Management expects continued growth in hydrocarbon and non-hydrocarbon plant markets, driven by global energy transition and infrastructure demand.

• Ongoing focus on green solutions, digital transformation, and expanding global partnerships.