Samsung E&A Q2 Net Profit Rises 28.8% On Overseas Projects, Cost Cuts

According to Yonhap, Samsung E&A Co. said its second-quarter net profit rose 28.8% from a year earlier as steady execution of large-scale overseas projects and cost cuts lifted earnings. Net profit for the three months ended in June climbed to 182.5 billion won ($124.4 million) from 141.7 billion won a year earlier, while operating profit jumped 51% to 273.1 billion won and sales increased 19.8% to 2.6 trillion won. The Samsung Group engineering and construction unit said advanced technologies including artificial intelligence, automation and modularization helped reduce costs, and a company official said quarterly earnings were supported by growth across petrochemical plants, semiconductor and biopharmaceutical manufacturing facilities, and energy transition projects including sustainable aviation fuel plants. For the first half, net profit rose 15.7% to 345.78 billion won, operating profit increased 36% to 461.28 billion won and sales gained 14% to 4.87 trillion won. Samsung E&A also secured 7.6 trillion won in new orders in the first six months, lifting its order backlog to 22.7 trillion won, and said it expects to meet its 2026 targets of 10 trillion won in sales and 800 billion won in operating profit.