Samsung C&T's trading division significantly improved its performance in the second quarter, driven by strong market conditions in steel, chemicals, and fertilizers, as well as achievements in renewable energy development.
The trading division reported sales of 4.703 trillion won and an operating profit of 142 billion won, according to a disclosure on July 29.
Sales increased by 24.5% compared to the same period last year, while operating profit surged by 77.5% during the same timeframe.
Samsung C&T stated, "Despite the severe uncertainties in the global supply chain due to the ongoing conflict in the Middle East, we recorded stable results across our portfolio, including trading, business development, and operations."
In the trading sector, the company effectively responded to rising global market conditions, achieving high performance in essential industrial materials such as steel, chemicals, and fertilizers.
The solar energy development business generated a total of $9.5 million (approximately 137.5 billion won) in sales profits during the second quarter, an increase of $1.4 million compared to last year. Overseas operations, including precision steel products, also contributed to profitability.
Looking ahead, Samsung C&T plans to actively expand its value chain in trading essential industrial materials such as steel, fertilizers, and non-ferrous metals.
The company added, "We will accelerate growth in renewable energy businesses, including solar power and energy storage systems (ESS), and seek to discover and expand new ventures in semiconductor materials, components, and equipment."
* This article has been translated by AI.
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