Hyundai E&C's third-quarter consolidation sales and operating profit fell from a year earlier.
Hyundai E&C disclosed on the 31st that, on a consolidation basis, its preliminary third-quarter sales were 7.8265 trillion won, operating profit was 103.5 billion won, and net profit was 67.8 billion won.
Sales fell 5.2% from the third quarter of last year, and operating profit declined 9.4%.
On a cumulative basis for the third quarter, sales and operating profit came to 23.0028 trillion won and 534.2 billion won, respectively. Sales fell 9.5% from the same period last year, but operating profit rose 4.2%.
Hyundai E&C said cumulative operating profit in the third quarter increased as projects that broke ground during the period of surging construction costs were completed in sequence and large-scale projects such as the Saudi Aramco Amiral package and The H Claste accelerated.
Cumulative orders in the third quarter totaled 26.1163 trillion won, achieving 83.9% of the annual target of 31.1 trillion won. Major orders include the Iraq seawater treatment plant construction and the Incheon Jemulpo Station urban public complex project.
Cash and cash equivalents (including short-term financial products) stood at 3.529 trillion won. The current ratio and liability ratio were 152.4% and 170.9%, respectively.
Hyundai E&C plans to focus on securing noncompetitive, high value-added mega projects such as nuclear power plants, plants, and data centers, based on its construction capabilities. It also plans to speed up expansion into future business models such as renewable energy.
In particular, it plans to expand its market share in the global nuclear power market through projects such as building four large nuclear power plants in the United States under a basic design contract with Fermi America and the first-unit construction project for the Palisades small modular reactor (SMR).
A Hyundai E&C official said, "Despite an uncertain business environment, we achieved solid results with a quality-focused order strategy and thorough cost control," adding, "We will strengthen future growth engines, including an energy innovation strategy such as large nuclear power plants and SMRs, to firmly maintain our status as a global top-tier builder."