Samsung C&T posted
Amid an adverse business environment, the company's continued efforts to boost profitability through a diversified business portfolio and differentiated business competitiveness led to a 13.5% increase in operating profit from the previous year despite a 2.9% drop in revenue.
In 2024, Samsung C&T will enhance the competitiveness of its existing businesses and improve profit structures by preemptively responding to the rapidly changing business environment, and aim to realize tangible results by accelerating its businesses in new and promising fields.
In particular, the company will work to establish a sustainable business portfolio through a virtuous cycle of reinvesting financial resources generated from the steady profits of its core businesses into future growth engines such as eco-friendly energy and bio/healthcare.
Regarding eco-friendly energy, the company will seek to expand its development of solar projects and win more EPC contracts, focusing on
In addition, Samsung C&T aims to secure EPC opportunities in nascent markets for small modular reactors, such as
As for the bio business, subsidiary
In
This year, within the current dividend policy which allows for a payout of 60-70% of the dividend income from affiliates, the company plans to distribute
It additionally plans to cancel treasury shares - 7,807,563 common shares, a third of those currently held, and all of its preferred shares that are currently held. This is part of Samsung C&T's effort to resolve market uncertainty by cancelling the entirety of its treasury shares in equal installments during the current shareholder return policy period. The market value of stocks to be cancelled at this time stands at over KRW 1T. Meanwhile, the company will continue to strive to enhance shareholder value.
Contact:
Email: us at cnt.pr@samsung.com
(C) 2024 Electronic News Publishing, source