(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Minyoung] On August 1, Hanwha Investment & Securities evaluated Samsung C&T, noting that expectations for both new business ventures and shareholder returns are positively influencing the company. The firm maintained its 'Buy' rating and target price of 200,000 won. The stock closed at 155,300 won on the previous trading day.

Hanwha Investment & Securities highlighted that Samsung C&T's stable dividend payments, based on the three-year shareholder return policy announced last February, and the anticipation of further announcements on value-up disclosures and future dividend policies (post-2026) are expected to continue. The firm also praised the company's proactive efforts in new business ventures and investments as positive signs of growth.

For Q2, Samsung C&T reported a 16.6% increase in operating profit to 900.4 billion won and a 4% rise in sales to 11 trillion won compared to the same period last year. The sales figures met market expectations, while operating profit exceeded expectations by 10.8%. However, net profit attributable to the controlling shareholders fell short by 6.8%.

The higher-than-expected operating profit was attributed to strong performance in Biosimilars, with milestone recognition amounting to approximately 220 billion won. The construction sector saw reduced revenue due to decreased high-tech orders, and the trading sector's operating profit margin fell to 2.1%. Nevertheless, margins in the leisure and food sectors improved to 8.1% and 5.9%, respectively.

For the first half of the year, Samsung C&T achieved new orders totaling 6.6 trillion won (5.9 trillion won domestically and 700 billion won overseas), reaching about 37% of its annual target. The company increased its housing supply plan from 4,560 units to 6,200 units, fulfilling 23.4% of the revised plan for the first half of the year.

Hanwha Investment & Securities also noted Samsung C&T’s recent announcement of participation in the basic design (FEED) of the NuScale, Fluor, and Sargent & Lundy SMR project in Romania. This project aims to replace a coal-fired power plant with a 462 MW SMR, with construction planned to begin in 2026 and commercial operation targeted for 2030.

 

 

[ⓒ AlphaBIZ. 무단전재-재배포 금지]