Hyundai Engineering & Construction Reports Operating Profit of 397.1 Billion KRW in H1, Up 14.5% Year-on-Year

Hyundai Construction announced on the 21st that its consolidated results for the first half of this year (January to June) tentatively recorded cumulative sales of 13.1944 trillion KRW, operating profit of 397.1 billion KRW, and net profit of 362.9 billion KRW.

This represents an increase of 35.7% in sales and 14.5% in operating profit compared to the same period last year.

Hyundai Construction explained that both sales and operating profit showed a significant increase as large overseas projects such as the Saudi NEOM Learning Tunnel, Panama Metro Line 3, and Poland Olefin Expansion Project began in earnest, along with the reflection of domestic housing sector performance.

New consolidated orders in the first half amounted to 20.727 trillion KRW, achieving 71.3% of this year’s order target of 29.09 trillion KRW. In particular, by securing mega projects such as the Saudi Amiral Package 1 and 4, overseas orders reached 11.4238 trillion KRW, which is a 268.3% increase compared to the same period last year.

Hyundai Construction added that in the second half, sales from large overseas plant sites such as the Iraq Basra refinery and steady sales growth in the domestic housing business are expected. The annual sales target of 25.5 trillion KRW is also expected to be smoothly achieved.

Hyundai Construction’s cash and cash equivalents (including short-term financial products) amount to 4.2184 trillion KRW. Net cash stands at 2.1363 trillion KRW. The current ratio was 176.9%, and the debt ratio was 120%. The credit rating is AA-.

A Hyundai Construction official said, "Sales growth is expected to continue in the second half with the expansion of performance in large domestic national projects and overseas projects," adding, "This year, we are focusing the company’s full capabilities on quality-first management with the goal of 'zero major quality defects.'"

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