Samsung E&A Raises Third-Quarter Total Order Guidance to at Least KRW 16 Trillion
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- 2026-10-02 08:01:21
- Updated
- 2026-10-02 08:01:21
[Financial News] KIWOOM Securities said on the second that Samsung E&A's total order guidance for the third and fourth quarters is expected to be raised to at least KRW 16 trillion. It maintained its Buy rating and a target price of KRW 73,000.
Researcher Shin Dae-hyun said, "Samsung E&A won the SAN-7 order it had been waiting for in the third and fourth quarters, worth about KRW 4.7 trillion. At the previous earnings announcement, it raised its group-affiliate order guidance from KRW 3 trillion to KRW 7 trillion," adding, "Samsung E&A is expected to win multiple orders centered on advanced industries in the fourth quarter. Most of these are expected to be destined for Samsung Electronics."
At Samsung Electronics Pyeongtaek Campus Line 5 (P5), discussions are underway on bringing forward the start of Phase 1 mass production, while P6 is still understood to be on track to begin construction this year. KIWOOM Securities also believes Taylor Fab 2 is highly likely to begin construction this year. Order intake in the third and fourth quarters is expected to be lower than forecast because of differences in the timing of definitive contracts, but most definitive contracts are expected to be signed in the fourth quarter. Construction at Samsung Electro-Mechanics' Sejong Plant is also considered highly likely to generate an order in the fourth quarter.
Researcher Shin said, "Revenue from the Fadhili Gas Plant in the chemical division will peak in the first quarter of 2027," adding, "The Middle East LOA contract worth KRW 3.2 trillion won this year and SAN-7, worth KRW 4.7 trillion, are also expected to contribute to revenue growth. Taking these into account, revenue of more than KRW 13 trillion and an operating margin of more than 10% could be achievable next year."
Samsung E&A's major project pipeline includes Qatar UREA (USD 2.5 billion), Mexinol (USD 2 billion), Abadi LNG (USD 3 billion), and DG Fuel (USD 3 billion).
[email protected] Kang Gu-gwi Reporter