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SEOUL, July 23 (Yonhap) -- Samsung E\&A Co., the engineering and construction arm of Samsung Group, said Thursday its second-quarter net profit rose 28.8 percent from a year earlier, driven by the steady execution of large-scale overseas projects and cost cuts.

Net profit for the three months that ended in June increased to 182.5 billion won (US$124.4 million) from 141.7 billion won a year earlier, the company said in a press release.

The builder said the adoption of advanced technologies, including artificial intelligence (AI), automation and modularization, in its projects continued to help reduce costs.

"Quarterly earnings were boosted by balanced growth across our three core businesses -- petrochemical plants, advanced manufacturing facilities for semiconductors and biopharmaceuticals, and energy transition projects, including sustainable aviation fuel plants," a company official said.

Operating profit jumped 51 percent to 273.1 billion won in the second quarter from 180.8 billion won a year earlier. Sales rose 19.8 percent to 2.6 trillion won from 2.17 trillion won.

For the first six months of the year, net profit climbed 15.7 percent to 345.78 billion won from 298.93 billion won a year earlier.

Operating profit for the first half rose 36 percent to 461.28 billion won from 338.16 billion won a year earlier, while sales increased 14 percent to 4.87 trillion won from 4.28 trillion won.

Samsung E\&A secured 7.6 trillion won worth of new orders in the first half, bringing its total order backlog to 22.7 trillion won.

The company said it expects to achieve its 2026 targets of 10 trillion won in sales and 800 billion won in operating profit.

This file photo, provided by Samsung E\&A Co., shows its headquarters in eastern Seoul. (PHOTO NOT FOR SALE) (Yonhap)

kyongae.choi@yna.co.kr
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