Seoul: Samsung E and A Co. announced on Friday that its annual operating profit for 2024 experienced a 2.2 percent on-year decline but successfully exceeded its annual target.
According to Yonhap News Agency, the builder's operating profit for last year was estimated at 971.6 billion won (US$666.2 million) on a consolidated basis, compared to 993.1 billion won a year earlier, as reported in a regulatory filing. Despite the drop, this figure surpassed the company's targeted operating profit of 800 billion won, illustrating a robust performance amid challenging market conditions.
Annual sales saw a decrease of 6.2 percent, totaling 9.96 trillion won. However, information regarding net income was not disclosed. In the fourth quarter, the company reported an operating profit of 295.8 billion won, marking a 9.6 percent increase from the same period the previous year.
A representative from Samsung E and A attributed the company's strong performance to its emphasis on profitability and operational efficiency. "Improvements in key chemical engineering projects were achieved through differentiated execution systems and cost management centered on profitability," the official stated.
The company plans to release its final earnings report at a later date.