Hyundai Construction Reports Q1 Operating Profit of 171.5 Billion KRW, Down 14.6% Year-on-Year

New Orders of 8.943 Trillion KRW, Achieving 31.5% of Annual Plan of 28.4 Trillion KRW
Order Backlog of 83.0781 Trillion KRW, Up 5.5% from Last Year-End (Securing About 4.2 Years of Work)
Cash and Cash Equivalents of 5.1018 Trillion KRW, Net Cash of 3.1571 Trillion KRW
Maintaining Management Stability and Market Trust Based on Strong Financial Structure and Top Credit Rating
"Strengthening Core Competitiveness Through Future New Businesses Such as SMR, UAM, and Smart City"

[Asia Economy Reporter Jo Gang-wook] Hyundai Engineering & Construction announced on the 22nd that its consolidated results for the first quarter of this year showed consolidated sales of 4.1453 trillion KRW, operating profit of 171.5 billion KRW, and net profit of 183.1 billion KRW.

Sales remained at a similar level compared to the same period last year, recording 4.1453 trillion KRW, due to the completion of large domestic plant sites (Hyundai Chemical HPC Plant) and housing sites.

Operating profit recorded 171.5 billion KRW, a 14.6% decrease compared to the same period last year. However, Hyundai Engineering & Construction explained that since sales from large-scale projects are concentrated in the second half of this year, sales and operating profit are expected to increase after the second quarter as overseas large-scale projects such as the Saudi Marjan project, Arak Basra refinery project, and Panama Metro project are in full swing.

In particular, orders amounted to 8.943 trillion KRW through major domestic projects such as the Yongin Jukjeon Data Center construction, Hanadream Town Group headquarters new construction, and Pohang Hwanho Park joint housing construction, as well as overseas projects including the Singapore Office Tower Phase 2. This is a 30.4% increase compared to the same period last year.

This amount achieved 31.5% of the annual order target of 28.37 trillion KRW. Hyundai Engineering & Construction plans to focus on areas with technical and regional competitive advantages by leveraging its abundant domestic and overseas construction experience and technical know-how, and to lead various types of projects such as urban renewal projects and new energy transition businesses this year as well. The order backlog increased by 5.5% compared to the end of last year to 83.0781 trillion KRW, securing about 4.2 years of stable work.

Cash and cash equivalents (including short-term financial products) amount to 5.1018 trillion KRW, and net cash reaches 3.1571 trillion KRW, securing excellent cash liquidity. Additionally, continuous improvement in financial structure resulted in a current ratio of 183.2% and a debt ratio of 110.7%. The credit rating remains solid at AA-, one of the highest levels in the industry.

A Hyundai Engineering & Construction official stated, "We will promote sustainable growth through corporate management that prioritizes safety and quality, and will make every effort to strengthen future core competitiveness by advancing new businesses such as SMR (Small Modular Reactors), UAM (Urban Air Mobility), and smart cities."

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