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SAMSUNG C&T CORPORATION

Disclaimer

The figures provided in this presentation are based on unreviewed


2Q 2011 financial statements. Certain numbers may be presented
differently once reviewed, and the company takes no responsibility
and accepts no liability for such changes.

Index
1. Construction New Orders
2. 2Q Results(QoQ)
3. 1H Results(YoY)
4. Others
5. Consolidated Statements of Income (Summary)
6. Consolidated Statements of Financial Position (Summary)

1. Construction New Orders


4
New Orders: 3,633.6 bn

(4,851.6 bn Including Saudi Qurrayah IPP)

Order Backlog: 27,140.3 bn


Major Orders in Backlog

Major New Orders


13.7tn

Overseas
Abu Dhabi DTS
Singapore DTL Ph.3
Singapore Merbau

Saudi
Qurrayah
IPP 1.2 tn

3.6 tn

Plant
Dangjin Thermal PP #9,10 154.0bn
Housing
Goduk Shiyoung
Redevelop
420.0bn

2011.1H

(bn KRW)

2011Plan

2011.1H

Housing
Pyungtek US Army Base 962.4bn
Garak Shiyoung
620.0bn
Goduk Shiyoung
420.0bn

1.5%

End of 2010

New Orders
Building

Overseas
UAE Nuclear PP
2,631.1bn
Singapore LNG Terminal 750.0bn
Abu Dhabi DTS-T01
285.7bn

297.6 bn
187.4 bn
174.2bn

SaudiQurrayahIPP 1,218.0 bn(E)

4.9tn

2011target

27.1tn

26.7tn

2011.1H

Order Backlog

Progress

(bn KRW)
End of 2010

2011.1H

Progress

2,715.0

1,083.4

39.9%

Building

3,730.2

3,518.1

212.1

Civil

900.0

98.7

11.0%

Civil

3,103.0

2,704.2

398.8

Plant

535.0

240.9

45.0%

Plant

718.1

687.5

30.6

Housing

3,000.0

1,292.4

43.1%

Housing

12,348.8

13,175.1

826.3

Overseas

6,550.0

918.2

14.0%

Overseas

6,849.6

7,055.4

205.8

Total

13,700.0

3,633.6

26.5%

Total

26,749.7

27,140.3

390.6

2. 2Q Results_ Summary (Consolidated)


5
(bn KRW)

Gross Profit

Sales

*Sales minus Cost of sales

8.7%

8.6%

406.5

446.2

5,186.4
4,696.1
10.4%

9.8%

2011.1Q

2011.2Q

Sales - Cost of Sales SG&A


+/- Other operating profit/expenses
Dividend income

2.5%

2.3%

118.0

117.0

2011.2Q

Profit for the Period

Operating Profit

Adjusted OP
Sales - Cost of Sales
- Selling and admin. expenses

2011.1Q

42.0 bn, Equity Method 38.4bn decrease from 1Q

Dividend Income(Other profit)


42.0bn decrease from 1Q

139.5

166.4

71.4

113.0
48.8%
0.8%

32.1%

2011.1Q
2011.1Q

2011.2Q

2011.1Q

2011.2Q

2011.2Q

2. 2Q Results_ Construction Sales (Consolidated)


6
Sales

(bn KRW)

2011. 1Q

Building
Civil
Plant
Housing
Overseas
etc

2011.2Q

Changes

(%)

1,795.0

Building

602.6

692.9

+90.3

(15.0%)

Civil

226.4

271.1

+44.7

(19.7%)

Plant

115.0

156.5

+41.5

(36.1%)

Housing

220.0

271.0

+51.0

(23.2%)

Overseas

324.6

387.8

+63.2

(19.5%)

Etc

11.1

15.7

+4.6

(41.4%)

1,499.7

1,795.0

+295.3

(19.7%)

1,499.7
17.2%
38.6%
40.2%

19.7%
15.1%
7.7%

15.1%
8.7%
15.1%

14.7%

21.6%

21.6%

0.7%

0.9%

2011.1Q

2011.2Q

Total

Sales increase in all sectors such as domestic Building and Overseas etc.
1Q to be the lowest sales figure for the Housing sector

2. 2Q Results_ Construction Profit (Consolidated)


7
K-GAAP

Gross Profit
* Sales - Costs of sales

14.0%

Adjusted Operating Profit

Operating Profit
* Sales - Cost of Sales SG&A
+/- Other operating profit /expenses

*Sales - Cost of Sales SG&A

12.4%
5.7%

251.4

(bn KRW)

109.9

92.8

4.2%

186.5
63.1%

15.6%

63.2

34.8%

2011.1Q

103.1

2011.2Q

2011.1Q

2011.2Q

2011.1Q

2011.2Q

Increase in gross profit and improvement in gross profit margin due to increase in volume in
the Building sector
Decrease in Operating Profit due to decrease in Other operating profit(dividend income)
compared to the 1st quarter

2. 2Q Results_ T&I Sales (Consolidated)


8
(bn KRW)

Sales
2011.1Q
Industrial Materials
Natural Resources
Energy Environment

3,391.4

Industrial
Materials

3,196.4

HQ
Natural
Resources

6.1%

HQ

73.8%

Energy
Environment

83.2%

HQ

14.5%
2.3%
2011.1Q

23.9%
2.3%
2011.2Q

Total
HQ

2011.2Q

2,659.1

2,503.3

155.8

5.9%)

1,912.7

1,890.1

22.6

1.2%)

464.5

811.3

346.8

(74.7%)

101.6

135.6

34.0

(33.5%)

72.8

76.8

4.0

(5.5%)

21.6

32.0

10.4

(48.1%)

3,196.4

3,391.4

195.0

(6.1%)

2,035.9

2,057.7

21.8

(1.1%)

Sales decreased in Industrial Materials due to decrease in prices of chemicals and iron & steel,
However, increased in Natural Resources due to increase in trading volume of copper concentrate,
resulting into an small increase in overall Sales

(%)

Changes

2. 2Q Results_ T&I Sales (Consolidated)


9
(bn KRW)

Gross Profit
* Sales - Costs of sales

Adjusted Operating Profit


*Sales - Cost of Sales SG&A

6.9%
5.7%
220.0

Operating Profit
* Sales - Cost of Sales SG&A
+/- Other operating profit /expenses

1.8%

194.8
1.7%

0.6%
0.4%

11.5%

56.5

54.8

20.2

74.6%
74.6%

2011.1Q

2011.2Q

2011.1Q

13.9

2011.2Q

64.2%
2011.1Q

2011.2Q

Gross profit decrease due to appraisal losses in solar business in Europe and decrease in
stainless steel prices
Increase in expenses due to increase in shipping expenses and developing new markets

3. 1H Results_ Summary (Consolidated)


10
(bn KRW)

Gross Profit

Sales

*Sales minus Cost of sales

9.4%

8.6%

9,882.5
8,355.6
18.3%
2010.1H

Adjusted OP
Sales - Cost of Sales
- Selling and admin. expenses

852.7

787.1
8.3%
2010.1H

2011.1H

Operating Profit

2011.1H

Profit for the Period

Sales - Cost of Sales SG&A


+/- Other operating profit/expenses
One-off profit of Other Operating profits of 199.8bn in 2010 1H due to investment asset mergers
(SDS + Networks 164.3bn, 1Q) (SEC+ Digital Imaging 35.5bn, 2Q)
Excluding this amount Adjusted OP increased 17.0bn (6.5%), profit for period 4.3bn (2.1%)

2.8%

2.4%
462.2
279.4

235.0

234.4

210.9
39.5%

0.3%

2010.1H

362.4
41.8%

2011.1H

2010.1H

2011.1H

2010.1H

2011.1H

3. 1H Results_ Construction Sales (Consolidated)


11
Sales

Building
Civil
Plant
Housing
Overseas
etc

(bn KRW)

Building
3,504.8

2010. 1H

2011.1H

Changes

(%)

Building

781.7

1,295.5

513.8

(65.7%)

Civil

426.7

497.5

70.8

(16.6%)

Plant

241.9

271.5

29.6

(12.2%)

Housing

1,203.7

491.0

712.7

59.2%)

14.9%

Overseas

832.7

712.4

120.3

14.4%)

21.6%

Etc

18.1

26.8

8.7

1.4%
2011.1H

Total

3,504.8

3,294.7

210.1

3,294.7
22.3%
39.3%
12.2%
6.9%

6.0% 15.1%
34.3%
8.2%

23.8%
0.5%
2010.1H

(48.1%)

6.0%)

Housing sales decrease due to low pre-sales because of depression in housing market in 2010
Domestic building sales increase due to uptrend in micro chip construction

3. 1H Results_ Construction Sales (Consolidated)


12
(bn KRW)

Gross Profit
* Sales - Costs of sales

Adjusted Operating Profit

Operating Profit

* Sales - Cost of Sales SG&A

13.3%

* Sales - Cost of Sales SG&A


+/- Other operating profit /expenses

12.1%

8.7%
437.9
422.9

5.1%

5.0%

6.2%
305.5
202.7

174.5

3.5%

33.6%

166.3

4.7%
4.7%
2010. 1H

2011.1H

2010.1H

2011.1H

2010. 1H

2011.1H

Gross profit and margin increase due to improvement in the building sector, excluding the other operating
profit of investment asset mergers in 2010, operating profit and margin has also increased
Marginal decrease in Adjusted operating profit due to increase in expenses such as increase in personnel
expenditure (increase in Adjusted Operating profits margins)
Decrease in Operating profit due to last years one-off gain in investment asset mergers

3. 1H Results_ T&I Sales (Consolidated)


13
(bn KRW)

Sales
2010.1H
Industrial Materials
Natural Resources
Energy Environment

5,162.4

Industrial
Materials
HQ

2011.1H

Changes

(%)

4,005.5

5,162.4

1,156.9

(28.9%)

2,753.9

3,802.8

1,048.9

(38.1%)

719.4

1,275.8

556.4

(77.3%)

139.7

237.2

97.5

(69.8%)

125.9

149.6

23.7

(18.8%)

48.9

53.6

4.7

(9.6%)

4,850.8

6,587.8

1,737.0

(35.8%)

2,942.5

4,093.6

1,151.1

(39.1%)

4,850.8
Natural
Resources
HQ
35.8% 78.4%

Energy
Environment

82.6%

HQ
14.8%
2.6%
2010.1H

19.4%
2.3%
2011.1H

Total
HQ

Increase in Sales due to increase in price and volume in chemicals and iron and steel trading
Sales increase in both Headquarters and overseas offices

3. 1H Results_ T&I Profit (Consolidated)


14
(bn KRW)

Gross Profit
* Sales - Costs of sales

* Sales - Cost of Sales SG&A


+/- Other operating profit /expenses

*Sales - Cost of Sales SG&A

7.5%

6.3%
414.8

Operating Profit

Adjusted Operating Profit

1.2%

1.0%

3.2%
1.2%

364.2
156.7
13.9%

76.7
14.9%

68.7

51.1%

59.9

2010.1H

2011.1H

2010.1H

2011.1H

2010.1H

2011.1H

Increase in Gross profit due to increase in price and volume in trading items,
Also excluding last years one-off gains in investment asset mergers, Adjusted Operating Profit has increased

4. Others
15
(bn KRW)

Equity method profit, Dividend Income

Debt & PF Amount


Total/Net Debt

Equity Method Profit


Samsung General Chemicals
Samsung Petrochemicals
Others

73.6

Total
Net

31.2

53.0

3,193.8
2,601.0
2,372.6
1,742.8

27.7
38.9%

34.2

18.5
8.2

6.8
2010.1H

End of 2010

2011.1H

2011.1H

Housing PF Amount

Dividend Income

Construction

65.0
52.4

1,278.9

1,292.9

164.9

439.9

Pre-Construction

19.4%

Pre-construction

1,114.0
853.0

2010.1H

Construction

Suwon Gwanggyo : 54.2bn


Gimpo Hangang :
49.7bn
Suwon Sindong : 336.0bn

2011.1H

End of 2010

2011.1H

Chunho Dong :
307.5 bn
Incheon Okryun : 397.5 bn
Buchun Joongdong :148.0bn

5. Consolidated Statements of Income (Summary)


16
(bn KRW)

2011. 1Q
Total

Construction

2011. 2Q
T&I

Total

Construction

2011. 1H
T&I

Total

Construction

2010. 1H
T&I

Total

Construction

T&I

4,696.1

1,499.7

3,196.4

5,186.4

1,795.1

3,391.4

9,882.5

3,294.7

6,587.8

8,355.6

3,504.8

4,850.8

406.5
(8.7%)

186.5
(12.4%)

220.0
(6.9%)

446.2
(8.6%)

251.4
(14.0%)

194.8
(5.7%)

852.7
(8.6%)

437.9
(13.3%)

414.8
(6.3%)

787.1
(9.4%)

422.9
(12.1%)

364.2
(7.5%)

288.5

123.3

165.2

329.2

148.4

180.9

617.7

271.7

346.1

552.7

248.4

304.3

Adjusted
Operating Profit

118.0
(2.5%)

63.2
(4.2%)

54.8
(1.7%)

117.0
(2.3%)

103.1
(5.7%)

13.9
(0.4%)

235.0
(2.4%)

166.3
(5.1%)

68.7
(1.0%)

234.4
(2.8%)

174.6
(5.0%)

59.9
(1.2%)

Other operating
profit and
expenses

48.4

46.7

1.7

4.0

10.2

6.3

44.4

36.5

7.9

227.8

130.9

96.8

Operating profit
(Margin %)

166.4
(3.5%)

109.9
(7.3%)

56.5
(1.8%)

113.0
(2.2%)

92.8
(5.2%)

20.2
(0.6%)

279.4
(2.8%)

202.7
(6.2%)

76.7
(1.2%)

462.2
(5.5%)

305.5
(8.7%)

156.7
(3.2%)

Finance income
and expenses

24.0

25.0

49.1

34.3

56.0

17.6

73.6

53.0

Profit before
income tax

198.3

105.6

303.9

480.9

Profit for the


period
(Margin %)

139.5
(3.0%)

71.4
(1.4%)

210.9
(2.1%)

362.4
(4.3%)

Attributable
to owners of
the parent

137.8

68.3

206.1

361.9

Attributable
to not
controlling
assets

1.7

3.1

4.8

0.5

Sales
Gross profit
(Margin %)
Selling and
administrative
expenses

Equity method
profit

Adjusted OP separately calculated for investor reference only, not included in official statements)

* Adjusted Operating Profits = Sales - COGS SG&A Expenses (

6. Consolidated Statements of Financial Position (Summary)


17
(bn KRW)
2011. 1Q
(A)
Total assets

End of 2010
(B)

Changes
(A-B)

17,449.0

17,501.1

52.1

7,382.2

6,792.6

589.6

10,066.8

10,708.4

641.6

9,317.4

8,922.7

394.7

Current liabilities

6,424.8

6,126.1

298.7

Non-current liabilities

2,892.6

2,796.6

96.0

8,131.6

8,578.4

446.8

8,095.1

8,545.7

450.6

36.5

32.7

3.8

Current assets
Non-current assets
Total liabilities

Total equity
Equity attributable to owners
of the parent
Non-controlling interests

Thank you
This material is prepared by Samsung C&T Corporation for its shareholders and candidate investors as Information
for reference only and is not intended to give any guideline or information to make any decision. Certain section(s)
of this document contain forward-looking statements that are based on expectations, estimations and assumptions
of Samsung C&T Corporation and outside organizations, and therefore, please be advised that any projections or
estimates may be different from actual results and that Samsung C&T Corporation does not make any representation
or warranty either expressly or implicitly as to the correctness, completeness and accuracy hereof.
Samsung C&T Corporation shall not be liable for any direct, indirect, consequential, incidental or special damages
due to your Reliance on the information

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