Kolon Global Surpasses 10 Trillion Won in Order Backlog... Strong Performance Expected in Second Half

Record High Q2 Earnings 'Earning Surprise'
Secured 2.4682 Trillion KRW in New Orders in H1... 80% of Target Achieved

Exterior view of Kolon Global Songdo Headquarters.

[Asia Economy Reporter Kangwook Cho] Kolon Global has achieved its highest-ever performance in the second quarter and is forecasting strong results in the second half of the year. Analysts say this is supported by an order backlog exceeding 10 trillion won.

On the 18th, Kolon Global announced that its consolidated order backlog for the second quarter surpassed 10 trillion won. This figure is five times the construction division's sales revenue from last year.

In particular, it secured new orders worth 2.4682 trillion won in the first half of this year alone, achieving about 80% of the order target of 3.11 trillion won set at the beginning of the year.

As the scale of the housing and architectural business expanded, sales revenue increased by 12% compared to the same period last year. Operating profit also rose by 27% due to favorable progress in large projects and an increase in projects under construction.

In addition to improved performance, the improvement in the Construction Capability Evaluation (hereinafter referred to as CCE) ranking is also notable. Kolon Global ranked 16th in this year's CCE, rising three places from 19th last year, marking its highest ranking in 14 years since 2007 (16th).

Market experts have a positive outlook on Kolon Global's second-half performance, raising profit forecast guidance based on the strong performance of the construction division. In fact, securities firms expect profits to increase for at least 2 to 3 years, leveraging the abundant order backlog. Kolon Global's sales revenue for this year has been revised upward to 4.5 trillion won, and net profit to 190 billion won.

A Kolon Global official said, "The construction division, Kolon Global's core business sector, led the performance improvement by securing orders exceeding 2 trillion won in the first half of the year," adding, "We expect to maintain solid performance and continue strong results in the second half."

This content was produced with the assistance of AI translation services.