GS Construction Q1 Operating Profit 71 Billion KRW... New Orders 3.3 Trillion KRW

Operating Profit Down 55.3% Year-on-Year
New Orders Including Padilli Up 57% Year-on-Year

GS Construction recorded an operating profit of 71 billion KRW in the first quarter, turning to a profit compared to the previous quarter. New orders exceeded 3 trillion KRW.

On the 26th, GS Construction announced that it posted sales of 3.071 trillion KRW and an operating profit of 71 billion KRW in the first quarter. Sales decreased by 12.6% year-on-year, and operating profit decreased by 55.3%.

In the fourth quarter of last year, through intensive cost inspections and reflecting expenses, both operating profit and net profit turned to a profit compared to the previous quarter.

Sales by business division were 2.387 trillion KRW for the Architecture and Housing Division, 287 billion KRW for the New Business Division, and 263 billion KRW for the Infrastructure Division. By region, domestic sales reached 2.566 trillion KRW, and overseas sales amounted to 505 billion KRW.

New orders amounted to 3.302 trillion KRW, a 57.3% increase compared to the same period last year. In the first quarter, the Architecture and Housing Division secured orders for projects such as the Songdo International Complex Phase 2 Development Project (496 billion KRW) and the Songpa Garak Plaza Reconstruction Project (473 billion KRW).

The Plant Division won a contract worth 1.22 billion USD (approximately 1.6 trillion KRW) last month for the 'Fadhili Gas Expansion Program Package 2' sour water treatment facility construction, ordered by Aramco.

A GS Construction official said, "In a situation where uncertain external conditions continue, GS Construction is actively securing future growth engines not only domestically but also overseas. We will strengthen our foundation and internal capabilities to firmly establish the basis for a new leap forward and focus on establishing the framework of our business from a mid- to long-term perspective."

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