大宇建设二季度营业利润同比增182.6%，并将全年新订单目标上调至27万亿韩元

Daewoo E&C (047040.KS) nearly tripled its second-quarter operating profit from a year earlier, sharply boosting profitability. On a first-half cumulative basis, operating profit rose 109% to 487.9 billion won, while the company raised its annual new order target from 18 trillion won to 27 trillion won, reflecting expectations for major overseas project awards.
In a regulatory filing on the 4th, Daewoo E&C said second-quarter revenue on a consolidated basis fell 10.1% year-on-year to 2.0435 trillion won, while operating profit rose 182.6% to 232.3 billion won. Net profit came in at 167.2 billion won, swinging to a profit from a 42.9 billion won loss in the same period last year.
First-half cumulative revenue was 3.9949 trillion won, down 8.2% year-on-year. By business segment, the building division accounted for the largest share at 2.6656 trillion won, followed by civil engineering at 743.3 billion won, plant at 511.5 billion won, and other consolidated subsidiaries at 74.5 billion won.
Profitability, by contrast, improved significantly. First-half operating profit was 487.9 billion won, up 109.0% from the same period last year, while net profit was 363 billion won. The operating margin more than doubled to 12.2% this year from 5.4% in the first half of last year.
Daewoo E&C explained that while revenue declined somewhat due to a drop in the number of ongoing sites, cost ratio stabilization and improved profitability in the building division drove the results.
First-half new orders totaled 7.1285 trillion won, up 22.4% from the same period last year. The company built up its performance centered on domestic building projects, winning the Seongnam Shinheung District 3 redevelopment (1.2687 trillion won), the Cheonan Seongjeong-dong apartment complex (414.3 billion won), and the Seongnam 3rd Pangyo Techno Valley (383.7 billion won). As of the end of the first half, the order backlog stood at 53.4019 trillion won, securing about 6.6 years' worth of work based on annual revenue.
Daewoo E&C on the same day raised its annual new order target from 18 trillion won to 27 trillion won. The move reflects the increased likelihood of winning major overseas projects, including Papua New Guinea liquefied natural gas (LNG) and Mozambique Rovuma LNG.
The company plans to diversify its business portfolio by expanding into overseas markets on the strength of its competitiveness in energy infrastructure such as nuclear power and LNG, while strengthening orders for high-value-added businesses including data centers, overseas urban development, and urban redevelopment.
"As the likelihood of winning major projects such as Papua New Guinea LNG and Mozambique Rovuma LNG has become visible, we raised our new order target," a Daewoo E&C official said. "We will do our best to exceed this year's target through expanding quality orders and thorough risk management."