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4-Traders Homepage  >  Equities  >  KOREA EXCHANGE  >  Samsung Engineering Co Ltd    028050   KR7028050003

SAMSUNG ENGINEERING CO LTD (028050)
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Samsung Engineering : Exergy inks deal for the dupply of a 5 MWe WHR ORC system to PTT LNG Terminal in Thailand

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05/16/2018 | 04:23pm CEST

EXERGY added another important reference to its portfolio, the first in HR for the Oil & Gas market. The Italian company, leading manufacturer of ORC systems with the Radial Outflow Turbine technology, in partnership with Baker Hughes, a GE company, has recently been awarded a new contract for the engineering, design and construction of a 5 MWe ORC unit for Waste Heat Recovery from gas turbines in a LNG plant in Thailand. The customer, Samsung Engineering Co., acts as EPC contractor for the final customer and user, PPT LNG, in its regasification terminal located in Rayong.

EXERGYs ORC solution, equipped with Radial Outflow Turbine technology, recovers the exhaust heat downstream generated from the two Solar Mars 100 gas turbines installed in the LNG plant, to generate 5 MWe of electricity, performing an essential role for clean power production for the regasification process. The cooling system employs cold water coming from the LNG regasification cycle as heat sink, in a temperature range between 5-38 C, with no water consumption. The heat recovery plant exploits a large amount of the residual heat, otherwise discharged by the gas turbine into atmosphere, increasing the efficiency of power production and reducing the environmental footprint of the power plant. The ORC will start commercial operation in the first half of 2019, setting a new standard for higher efficiency and profitability in LNG regasification terminals market.

This contract brings EXERGY in the heat recovery market for Oil & Gas application, for which the Italian company is specially developing a new product, an innovative ORC solution, currently patent pending. EXERGYs Head of Sales Luca Xodo explains:

This first reference with PTT opens up the expansion in a new target market for EXERGY, where we see many opportunities to innovate the existent ORC offer leveraging the flexibility of its application and the higher efficiency of conversion of our Radial Outflow Turbine technology. We are glad to move the first step in this market cooperating with market leaders such as GE and Samsung Engineering, and we hope this will be the first of many future projects to execute together. The application of our technology in the midstream and downstream sectors of the Oil & Gas Industry will be a primary focus of EXERGY strategy in the near future, as we have seen outstanding growth of the demand in this sector in the recent years and forecasts set a promising target of 14.90 billion USD by 2023.

EXERGYs project portfolio today counts approximatively 400 MWe capacity with an installed capacity that has reached 331 MWe. The heat recovery application contributes with 17 plants for total 27.8 MWe.

(c) 2018 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( KRW)
Sales 2018 5 774 B
EBIT 2018 168 B
Net income 2018 108 B
Debt 2018 390 B
Yield 2018 -
P/E ratio 2018 33,29
P/E ratio 2019 16,83
EV / Sales 2018 0,71x
EV / Sales 2019 0,57x
Capitalization 3 695 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 17 194  KRW
Spread / Average Target -8,8%
EPS Revisions
Managers
NameTitle
Seong-An Choi President & Chief Executive Officer
Ho-Hyeon Lee Managing Director, Head-Finance & Economy
Gyu-Yeon Gang Managing Director & Head-Finance
Won-Hee Cho Managing Director & Head-Chemical Technology
Young-Se Kim Outside Director
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