Doosan Construction Reports Operating Profit of 49.7 Billion KRW in Q3... 9 Consecutive Quarters of Profitability

[Asia Economy Reporter Minyoung Kim] Doosan Construction announced on the 15th that its cumulative sales for the third quarter on a consolidated basis amounted to 866.7 billion KRW, with an operating profit of 49.7 billion KRW. Net profit was 8.9 billion KRW, and the interest coverage ratio reached 2.06 times, maintaining above 1x for seven consecutive quarters since the first quarter of last year.

Sales decreased by 8% compared to the previous year due to external factors such as COVID-19, rising raw material prices, and strikes by ready-mix concrete and cargo unions. However, operating profit has maintained a profitable structure for nine consecutive quarters since the third quarter of 2020, thanks to selective order policies and cost improvement efforts.

Total borrowings have been reduced to 314.5 billion KRW, which is one-eighth of the approximately 2.4 trillion KRW level in 2010. Net borrowings also decreased to 251.1 billion KRW, about one-seventh of the approximately 1.7 trillion KRW level in 2010. The debt ratio remains at 235%, similar to the level at the end of last year.

Doosan Construction's total order amount as of the end of the third quarter is 721.1 billion KRW. The current order backlog is approximately 7.5 trillion KRW, securing volume for the next five years.

A Doosan Construction official stated, "We improved our financial structure by carrying out a paid-in capital increase of 250 billion KRW at the end of last year," adding, "This year, we are doing our best to stabilize both internally and externally through large-scale recruitment and registration of new partners."

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