Overview

• Daewoo E&C reported a 31.8% year-on-year increase in Q1 operating profit, reaching 151.3 billion won, surpassing market expectations.
• Sales dropped 16.5% to 2.07 trillion won, while net income fell 36.6% to 58 billion won due to fewer ongoing project sites.
• The company's housing and plant construction divisions were key contributors to the operating profit growth despite overall lower sales.
• New orders in Q1 totaled 2.82 trillion won, a 13.4% year-on-year increase, with an order backlog standing at 45 trillion won, ensuring future revenue stability.
• Daewoo E&C finalized a $700 million framework agreement for a fertilizer plant in Turkmenistan and aims to expand urban redevelopment projects and secure further international contracts.