Samsung expected to have reached \50T in Q2 sales

Samsung is likely to be the only conglomerate successfully weathering the global economic storm given its strong showing in the second quarter, according to financial information group FN Guide.

The report said Samsung Group’s operating profits in the first six months of this year are estimated to have grown 65 percent from a year earlier to 14.7 trillion won ($12.8 billion).

Sales are expected to be up 22.7 percent to 133 trillion won while net profit is likely to have expanded 54 percent to 12.2 trillion won.

Samsung Group’s exceptionally strong performance has been led by Samsung Electronics. The leading electronics company continues to top the global smartphone market, while its LED TV sales continue to grow as well.

Samsung Electronics is expected to surpass its sales record that was set in the first three months of this year. In the first quarter, the company’s sales reached 45.3 trillion won. In the second quarter, sales are expected to have grown to 50.2 trillion won, which would be a new record.

Hyundai Motor Group is expected to have seen limited growth in the first half. Operating profits are expected to have increased 14.2 percent to 9.9 trillion won while sales and net profits will likely see double-digit growth of 10.5 percent and 13.1 percent, respectively.

Other leading conglomerates are expected to have suffered in the first half.

LG Group’s operating profits inched 6.8 percent to 3 trillion won while sales gained 2.4 percent to 73 trillion won. Net profits are expected to have shrunk 2.3 percent to 2.2 trillion won.

SK Group’s operating profits and net profits are expected have shrunk 21.7 percent to 6 trillion won and 35.4 percent to 2.7 trillion won, respectively. Sales, however, are expected to have increased 8 percent compared to the first six months of last year to 127 trillion won. The operating profits of Lotte, GS and Posco are expected to have shrunk more than 30 percent on-year.

FN Guide projected that although Samsung is likely to continue its positive performance in the second half, Hyundai Motor Group is likely to feel the pinch of the downsizing global market.

By Lee Ho-jeong[ojlee82@joongang.co.kr]