DL E&C二季度营业利润1594亿韩元并拟回购555亿韩元股份

DL E&C (375500.KS) posted second-quarter operating profit of 159.4 billion won, extending its earnings improvement. At the same time, it decided to buy back 55.5 billion won worth of treasury shares, accelerating efforts to enhance shareholder value.
DL E&C said on the 30th that it recorded preliminary second-quarter revenue of 1.8029 trillion won and operating profit of 159.4 billion won on a consolidated basis. New orders totaled 3.1189 trillion won.
Revenue fell 9.47% from a year earlier, while operating profit rose 26.32%. For the first half, revenue declined 7.14% from the previous year, while operating profit increased 52.91%. The company said the stabilization of the cost ratio in its housing division led to the earnings improvement. DL E&C said it is continuing to improve profitability through a selective order strategy focused on business viability and through cost management.
New orders rose 223.9% from a year earlier, showing a recovery centered on the housing business. Urban redevelopment orders, including the Hannam District 5 project, were reflected in the results. The company also secured construction rights for the Mokdong Complex 6 apartment reconstruction and redevelopment project. It plans to pursue key redevelopment projects in Seoul, including the Seongsu District 2 zone, in the second half of the year.
DL E&C is also pursuing diversification of its order portfolio. The company is expanding orders in the power and energy sector and the data center sector. In June, it won a 550 billion won combined-cycle power project in eastern Jeju. It is pursuing orders centered on power infrastructure projects such as combined-cycle power and pumped-storage power. Based on its plant execution experience in North America and its standard design capabilities for X-energy small modular reactors (SMRs), it is also expanding its entry into the next-generation energy market.
The company is also pursuing orders in the data center sector. In the first half, its subsidiary DL Construction won a 126.8 billion won artificial intelligence (AI) data center project in Bucheon. DL E&C expects to win large-scale data center orders in the Chungcheong region and the greater Seoul area in the second half.
The company also maintained financial stability. As of the end of the second quarter, net cash stood at approximately 1.2 trillion won and the debt ratio was 86.4%. DL E&C said it has maintained a positive operating cash flow every year since its spinoff in 2021. The company recently maintained a corporate bond credit rating of "AA- (stable)" and obtained a commercial paper credit rating of "A1" from major domestic credit rating agencies.
DL E&C also announced a plan to buy back and cancel treasury shares to enhance shareholder value. The company said it signed a trust contract to acquire 55.5 billion won worth of treasury shares. The contract runs for five months, from the 31st of this month to December 24.
This share buyback is part of the implementation of its three-year shareholder return policy for 2024 to 2026. The purchase amount corresponds to 15% of its 2025 consolidated net profit of 370.2 billion won. DL E&C is implementing a policy of paying out 10% of consolidated net profit in cash dividends and buying back 15% in treasury shares.
DL E&C has been acquiring treasury shares since 2022. Once this purchase is completed, its holdings will exceed 5%. The company said it plans to continue treasury share buybacks and cancellations to enhance shareholder value as scheduled.
"As the results of profit-focused business operations and cost management are reflected in our performance, a virtuous cycle is taking hold in which profit and cash-generating capacity improve together," a DL E&C official said. "Along with the earnings improvement, we will continue our efforts to enhance shareholder value."