SCC Engineering Secures KRW 180 Billion Order Backlog with Focus on High-Tech Industries like Hydrogen
Key Ideas
- SCC Engineering has won significant projects in hydrogen and secondary batteries, leading to a substantial increase in order backlog, reaching KRW 180 billion.
- The company's success in securing orders in new growth industries like hydrogen signifies a positive outlook for its earnings and future growth potential.
- The hydrogen market is expanding rapidly due to global carbon neutrality initiatives, providing further opportunities for SCC Engineering's expertise in building hydrogen production facilities.
- With a focus on expanding into high-tech industrial plant fields, SCC Engineering aims to enhance profitability through cost reduction and order competitiveness, expecting improved performance in the second half of the year.
SCC Engineering has experienced a remarkable surge in its order backlog, reaching KRW 180 billion in the first quarter of this year, showcasing a substantial 111% year-on-year increase. The company's recent success in securing large-scale projects in advanced sectors such as hydrogen and secondary batteries has generated optimism for a turnaround in its earnings. Notably, SCC Engineering recently acquired a KRW 17.2 billion fine chemical project from Dongsung Chemical and a KRW 7.6 billion hydrogen project from K&D Energy, contributing to a total of approximately KRW 160 billion in orders for the first half of the year, surpassing last year's total sales. The company's focus on new growth areas like hydrogen is highlighted by winning a project to construct Korea's largest hydrogen production plant, valued at KRW 100 billion. The global hydrogen market's rapid expansion, driven by carbon neutrality measures, presents SCC Engineering with significant opportunities in building hydrogen production facilities. Additionally, SCC Engineering's success in securing projects in fields like secondary batteries reflects its high technological capabilities. The company's backlog of orders has notably increased by 111%, indicating a promising future in terms of sales. Looking ahead, SCC Engineering plans to continue its strategic order-taking activities in high-tech industries, emphasizing cost reduction and competitive order execution to enhance profitability. The company anticipates substantial performance improvements in the second half of the year, supported by a strong order volume and growing demand in the EPC business.
Topics
Projects
Technology
Energy
Engineering
Business
Carbon Neutrality
Project Management
High-tech Industries
EPC
Latest News