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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samsung C&T has decided to retire more than KRW 1 trillion in treasury stocks while increasing investment in its eco-friendly energy business.
Samsung C&T announced on the 31st that it had sales of 41.8957 trillion won and operating profit of 2.8702 trillion won last year. Sales fell 2.9% from the previous year, but operating profit increased 13.5%. In the fourth quarter of last year, it recorded sales of 10.997 trillion won (-5.1%) and operating profit of 627 billion won (-1.1%).
Specifically, △ construction sector (19.31 trillion won in sales, 1.34 trillion won in operating profit), △ trading sector (13.266 trillion won in sales, 360 billion won in operating profit), △ fashion sector (2.51 trillion won in sales, 194 billion won in operating profit) and △ resort sector (3.574 trillion won in sales and 194 billion won in operating profit) have grown evenly.
In the small module nuclear power plant (SMR) project, which is expected to expand its market, the company also set a goal of securing technical capabilities and preoccupying business opportunities in Eastern Europe. In the field of battery recycling, the company plans to start sourcing, reprocessing, and production projects through overseas investment.
In the wake of improved profitability, the company will also strengthen its shareholder return policy. Samsung C&T has decided to retire its own shares worth 1 trillion won for the first year of its third shareholder return policy (2023-2025).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
