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Samsung C&T Corporation and Subsidiaries

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Samsung C&T Corporation and Subsidiaries Samsung C&T Corporation and Subsidiaries Consolidated Interim Financial Statements June 30, 2018 and 2017 WorldReginfo - 4ee79018-3a3f-405c-90c8-3563e82f7309 Samsung C&T Corporation and Subsidiaries Index June 30, 2018 and 2017 Pages Report on Review of Interim Financial Statements ………………………............................... 1 - 2 Consolidated Interim Financial Statements Consolidated Interim Statements of Financial Position …………………………………………….. 3 - 5 Consolidated Interim Statements of Comprehensive Income....................................................... 6 - 8 Consolidated Interim Statements of Changes in Equity..............................…………................... 9 - 10 Consolidated Interim Statements of Cash Flows…………………………………………………….. 11 - 12 Notes to the Consolidated Interim Financial Statements....................................……....……....... 13 - 107 WorldReginfo - 4ee79018-3a3f-405c-90c8-3563e82f7309 Report on Review of Interim Financial Statements (English Translation of a Report Originally Issued in Korean) To the Shareholders and Board of Directors of Samsung C&T Corporation Reviewed Financial Statements We have reviewed the accompanying consolidated interim financial statements of Samsung C&T Corporation (the Company) and its subsidiaries (collectively referred to as the “Group”). These financial statements consist of the consolidated interim statement of financial position of the Group as at June 30, 2018, and the related consolidated interim statements of comprehensive income for the three-month and six-month periods ended June 30, 2018 and 2017, consolidated interim statements of changes in equity and cash flows for the six-month periods ended June 30, 2018 and 2017, and a summary of significant accounting policies and other explanatory notes, expressed in Korean won. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these consolidated interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS) 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of consolidated interim financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to issue a report on these consolidated interim financial statements based on our review. We conducted our review in accordance with quarterly or semi-annual review standards established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe the accompanying consolidated interim financial statements are not presented fairly, in all material respects, in accordance with Korean IFRS 1034 Interim Financial Reporting. WorldReginfo - 4ee79018-3a3f-405c-90c8-3563e82f7309 Other Matters We have audited the consolidated statement of financial position of the Group as at December 31, 2017, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, in accordance with Korean Standards on Auditing. We expressed an unqualified opinion on those financial statements, not presented herein, in our audit report dated March 14, 2018. The consolidated statement of financial position as at December 31, 2017, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2017. The accompanying consolidated interim financial statements as at June 30, 2018 and December 31, 2017, and for the three-month and six-month periods ended June 30, 2018 and 2017, have been translated into U.S. dollars solely for the convenience of the reader and have been translated on the basis set forth in Note 3 to the consolidated interim financial statements. Review standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to review such financial statements may differ from those generally accepted and applied in other countries. Seoul, Korea August 14, 2018 This report is effective as of August 14, 2018, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying consolidated interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any. 2 WorldReginfo - 4ee79018-3a3f-405c-90c8-3563e82f7309 Samsung C&T Corporation and Subsidiaries Consolidated Interim Statements of Financial Position June 30, 2018 and December 31, 2017 (in millions of Korean won and thousands of U.S. dollars (Note 3)) Notes June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 (Unaudited) (Unaudited) Assets Current assets Cash and cash equivalents 7 ஶGGGGGGGGGGGGG2,917,077 ஶGGGGGGGGGGGGG2,993,152 $ 2,600,586 $ 2,668,407 Short-term financial instruments 7 98,688 100,721 87,981 89,794 Financial assets at fair value through profit or loss 7,12 390,000 -347,687 - Financial assets at fair value through other comprehensive income 7,12 239 309 213 276 Trade receivables 7,8 4,217,707 4,992,459 3,760,103 4,450,797 Other current assets 7,8 2,869,806 2,628,872 2,558,444 2,343,650 Inventories 6 1,595,966 1,533,034 1,422,810 1,366,706 Total current assets 12,089,483 12,248,547 10,777,824 10,919,630 Assets held for sale 13,36 2,243,245 71,956 1,999,860 64,150 Non-current assets Financial assets at fair value through profit or loss 7,12 69,047 24,439 61,556 21,787 Financial assets at fair value through other comprehensive income 7,12 20,914,659 23,204,424 18,645,501 20,686,836 Investments in associates and joint ventures 13 3,339,495 5,741,754 2,977,173 5,118,797 Property, plant and equipment 14 4,991,736 4,985,944 4,450,152 4,444,989 Investment properties 15 594,870 671,661 530,329 598,788 Biological assets 16 2,173 2,204 1,937 1,965 Intangible assets 14 1,289,407 1,311,472 1,149,512 1,169,183 Deferred tax assets 78,059 75,376 69,590 67,198 Other non-current assets 7,8 773,087 711,126 689,210 633,972 Total non-current assets 32,052,533 36,728,400 28,574,960 32,743,515 Total assets ஶGGGGGGGGGGG46,385,261 ஶGGGGGGGGGGG49,048,903 $ 41,352,644 $ 43,727,295 3 WorldReginfo - 4ee79018-3a3f-405c-90c8-3563e82f7309 Samsung C&T Corporation and Subsidiaries Consolidated Interim Statements of Financial Position June 30, 2018 and December 31, 2017 (in millions of Korean won and thousands of U.S. dollars (Note 3)) Notes June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 (Unaudited) (Unaudited) Liabilities G Current liabilities Trade payables 7 ஶGGGGGGGGGGGGG1,839,686 ஶGGGGGGGGGGGGG1,785,617 $ 1,640,088 $ 1,591,885 Short-term borrowings 7,17 1,640,163 2,093,310 1,462,212 1,866,194 Current portion of long-term borrowings 7,17 2,001,227 1,346,801 1,784,102 1,200,678 Current tax liabilities 184,592 51,744 164,565 46,128 Other current liabilities 5,7,10,19 8,754,327 9,180,834 7,804,517 8,184,751 Total current liabilities 14,419,995 14,458,306 12,855,484 12,889,636 Non-current liabilities Debentures and long-term borrowings 7,17 1,947,508 2,594,095 1,736,211 2,312,646 Net defined benefit liability 18 90,167 58,357 80,384 52,025 Deferred tax liabilities 5,680,537 6,295,263 5,064,221 5,612,252 Provisions 5,19 309,061 257,025 275,529 229,139 Other non-current liabilities 7,10 297,552 234,607 265,269 209,153 Total non-current liabilities 8,324,825 9,439,347 7,421,614 8,415,215 Total liabilities 22,744,820 23,897,653 20,277,098 21,304,851 4 WorldReginfo - 4ee79018-3a3f-405c-90c8-3563e82f7309 Samsung C&T Corporation and Subsidiaries Consolidated Interim Statements of Financial Position June 30, 2018 and December 31, 2017 (in millions of Korean won and thousands of U.S. dollars (Note 3)) Notes June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 (Unaudited) (Unaudited) Equity Share capital 21 19,132 19,132 17,056 17,056 Consolidated capital surplus 10,468,265 10,468,265 9,332,500 9,332,500 Other components of equity 22 4,693,460 6,313,950 4,184,238 5,628,911 Consolidated retained earnings 6,008,216 5,755,405 5,356,348 5,130,966 Equity attributable to owners of the Parent Company 21,189,073 22,556,752 18,890,142 20,109,433 Non-controlling interests 1 2,451,368 2,594,498 2,185,404 2,313,011 Total equity 23,640,441 25,151,250 21,075,546 22,422,444 Total liabilities and equity ஶGGGGGGGGGGG46,385,261 ஶGGGGGGGGGGG49,048,903 $ 41,352,644 $ 43,727,295 The U.S. dollar figures are provided for information purposes only and do not form part of the consolidated interim financial statements. Refer to Note 3. The above consolidated interim statements of financial position should be read in conjunction with the accompanying notes.
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