Daewoo E&C Reports 180% Surge in Q2 Operating Profit
Daewoo Engineering & Construction's Q2 operating profit reached 232.3 billion won, a 182.6% increase year-on-year. The company has adjusted its annual new order target to 27 trillion won following a 22.4% rise in new orders for the first half of the year.
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In Q2, Daewoo E&C achieved an operating profit of 232.3 billion won ($163 million), nearly tripling from the previous year, despite a 10.1% revenue decline to 2.04 trillion won. For the first half, cumulative revenue was 3.99 trillion won, down 8.2% year-on-year, while operating profit increased by 109% to 487.9 billion won, with net profit rising to 363 billion won from 15 billion won.
New orders for H1 grew 22.4% to 7.13 trillion won, while the order backlog reached 53.40 trillion won. The company plans to expand into higher-value segments including urban development and data centers, capitalizing on its strengths in nuclear power and LNG projects.
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