Samsung E&A (A028050) Q4 2024 earnings summary

Executive summary

• Achieved record-high new orders in FY2024, totaling KRW 14.4 trillion, up 64% year-over-year.

• Sales reached KRW 10.0 trillion, with operating profit of KRW 971.6 billion and OPM of 9.7%.

• Performance exceeded annual guidance: new orders at 114%, sales at 100%, and operating profit at 121%.

• Strong execution of major projects contributed to stable sales and profitability.

Financial highlights

• FY2024 sales: KRW 9,966.6 billion (down 6.2% YoY); operating profit: KRW 971.6 billion (down 2.2% YoY).

• Gross profit margin improved to 15.1% (up 1.4%p YoY); operating profit margin at 9.7%.

• Net profit for FY2024: KRW 638.7 billion, with a margin of 6.4%.

• Net cash position increased to KRW 2,995.0 billion, up 121.6% from the previous year.

Outlook and guidance

• FY2025 targets: new orders of KRW 11.5 trillion, sales of KRW 9.5 trillion, and operating profit of KRW 700 billion (OPM 7.4%).

• Hydrocarbon EPC order pipeline for 2025 includes 10 projects totaling USD 23.1 billion.