Hyundai Construction Reports Operating Profit of 785.4 Billion KRW Last Year, Up 36.6% from Previous Year

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Hyundai Construction's operating performance last year reached 785.4 billion KRW, marking a 36.6% increase compared to the previous year. Hyundai Construction announced on the 23rd that its provisional consolidated annual results showed cumulative sales of 29.6514 trillion KRW. Sales increased by 39.6% compared to the previous year. The net profit for the same year was 654.3 billion KRW, and new orders amounted to 32.4906 trillion KRW.

A Hyundai Construction official stated, "With the full-scale progress of major overseas sites such as the Saudi Arabia Jafurah Gas Field Phase 1, Saudi NEOM Running Tunnel, Iraq Basra Refinery, and Poland Olefin Expansion Project, along with the reflection of results from the Shaheen Project and the domestic housing sector, both sales and operating profit showed a significant upward trend."

The annual cumulative sales were recorded at 29.6514 trillion KRW, a 39.6% increase from the previous year. This surpassed the annual sales target of 25.5 trillion KRW. Supported by strong sales, operating profit also rose 36.6% year-on-year to 785.4 billion KRW.

New orders totaled 32.4906 trillion KRW, exceeding the annual order target of 29.09 trillion KRW. Overseas orders increased by 80.3% year-on-year to 12.8684 trillion KRW, driven by mega project wins such as Saudi Amiral Package 1 and 4.

With consecutive wins of large-scale projects including the Shinhanul Nuclear Power Plant Units 3 and 4 main equipment construction, Namyangju Wangsuk National Road No. 47 underground construction, and GTX-C metropolitan transportation network, the order backlog slightly increased year-on-year to 90.0049 trillion KRW.

Despite the highly uncertain global business environment, Hyundai Construction has gained market trust based on its AA- (stable) credit rating and solid financial structure ensuring management stability. Despite general concerns about the construction industry, the company secured investment demand of 685 billion KRW against a bond issuance target of 160 billion KRW in the demand forecast conducted on the 22nd, achieving an oversubscription ratio of 4.3 to 1.

Cash and cash equivalents (including short-term financial instruments) stand at 4.5815 trillion KRW, with net cash at 2.2809 trillion KRW, ensuring abundant cash liquidity. Through continuous financial structure improvements, the current ratio, a measure of payment ability, recorded 179.7%, and the debt ratio was 126.8%.

This year's sales target is 29.7 trillion KRW. A Hyundai Construction official said, "We plan to achieve this through steady sales from the Shaheen Project and the domestic housing sector, along with the full-scale sales from the Saudi Amiral Project."

Hyundai Construction will focus this year on securing core field super-gap technologies, expanding the energy value chain, and promoting high value-added overseas projects. The company plans to expand its global influence across the nuclear power sector, including large nuclear power plants, small modular reactors (SMR), nuclear decommissioning, and spent nuclear fuel facilities.

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