According to their projected 2022 revenues, Samsung C&T Corp. and six other South Korean businesses have been listed among the top 100 builders worldwide, Deloitte Korea reported on Wednesday.
According to the list of global powers of construction 2022 compiled by Deloitte Korea, Samsung C&T, the building and trade division of South Korea’s largest conglomerate Samsung Group, came in at number 15, dropping two spots from the previous year.
Even though its top line increased by 11%, its market capitalization dropped 10.4% in 2022 from the previous year.
Hyundai Engineering & Construction Co. (Hyundai E&C), the building division of leading automaker Hyundai Motor Group, maintained position 23 despite a roughly 26% decline in market value and an increase in sales of 4.2 percent.
The two most important construction firms in Asia’s fourth-largest economy are Samsung C&T and Hyundai E&C.
Doosan, GS Engineering & Construction Co., Daewoo Engineering & Construction Co., DL E&C Co., and HJ Shipbuilding & Construction Co. are also on the Deloitte Korea list.
Sales of those seven South Korean homebuilders increased by an average of 8.3% year over year in 2022, but because of heightened uncertainty and rising interest rates around the world, their market capitalization decreased from 10.4% to 49.4%.
The list includes a total of 41 European companies, the most of any region, followed by 14 Japanese companies, 13 American companies, and 11 Chinese companies, with Chinese companies from first to eighth on the list.
The aggregate sales of the top 100 builders increased by 6.3 percent year over year to $1.94 trillion in 2022, but their market value decreased by 14.9 percent.
In addition, Deloitte Korea predicted that the worldwide construction market will grow by 1.9 percent from a year earlier in 2023 as opposed to 1.3 percent in 2022.