Business · Companies · 1 hr ago
Daewoo E&C's Q3 operating profit rises 223.7% as revenue falls
South Korean builder Daewoo E&C reported higher operating profit in the third quarter, even as its revenue declined.
Revenue was 1.8424 trillion won, down 7.4% from the same period last year, while operating profit reached 183.2 billion won.
The company said fewer active construction sites contributed to the revenue decline, while tighter management helped improve profit.
In the first nine months, operating profit rose 131.3% to 671.1 billion won, and its operating margin increased to 11.5%.
New orders grew 11.9% year on year to 12.4782 trillion won in that period.
Its order backlog reached 54.855 trillion won, equivalent to about 6.8 years of work at its annual revenue rate.
The company plans to pursue large overseas projects and manage risks as it works toward its annual target; it said awards for LNG projects in Papua New Guinea and Mozambique were approaching.
Daewoo E&C reported third-quarter operating profit of 183.2 billion won, up 223.7% from a year earlier.
Revenue fell 7.4% to 1.8424 trillion won.
Net profit was 83.1 billion won, compared with a loss a year earlier.
For the first nine months, operating profit rose 131.3% to 671.1 billion won, while revenue declined 7.9% to 5.8373 trillion won.
The company’s order backlog reached 54.855 trillion won at the end of the third quarter, equal to about 6.8 years of annual revenue.
- Who
- Daewoo E&C, a South Korean construction company.
- What
- Its third-quarter operating profit rose 223.7% year on year to 183.2 billion won, while revenue fell 7.4%.
- When
- The results were announced on October 27, 2026, and cover the third quarter of 2026.
- Where
- South Korea; the company’s results included domestic construction projects and overseas projects it plans to pursue.
- Why
- The company said fewer active construction sites reduced revenue, while improved management performance helped raise cumulative operating profit and its margin.
This story does not have two clearly opposing sides.
Daewoo E&C recorded operating profit of 183.2 billion won and revenue of 1.8424 trillion won.
The company’s order backlog stood at 54.855 trillion won.
Daewoo E&C announced its provisional consolidated results.
- Third-quarter operating profit
- 183.2 billion won, up 223.7% year on year
- Third-quarter revenue
- 1.8424 trillion won, down 7.4% year on year
- Third-quarter net profit
- 83.1 billion won; returned to profit
- Nine-month operating profit
- 671.1 billion won, up 131.3% year on year
- Order backlog at end of third quarter
- 54.855 trillion won, about 6.8 years of annual revenue
What people are saying
The number of ongoing construction sites decreased, so revenue fell somewhat, but the results of sound management significantly improved cumulative operating profit and the operating profit margin.
Major project orders, including the Papua New Guinea LNG central gas processing facility and Mozambique Rovuma LNG, are imminent.
We will focus our capabilities on quality orders and risk management for the remaining period to achieve this year’s target.