Last year, Hyundai Engineering & Construction recorded 653 billion won in operating profit on a consolidation basis, returning to the black.
Hyundai Engineering & Construction said on the 4th that, based on a provisional tally of last year's annual consolidation results, it posted revenue of 31.0629 trillion won, new orders of 33.4394 trillion won, and operating profit of 653 billion won, respectively.
New orders came to 33.4394 trillion won, exceeding the annual order target of 31.1 trillion won by 107.4%.
In particular, it stood out in key strategic businesses at home and abroad, achieving the industry's first 10 trillion won in orders in the urban renewal institutional sector and winning the Iraq seawater treatment plant project. On a separate basis, it recorded the largest order intake since its founding at 25.5151 trillion won. Hyundai Engineering & Construction holds an order backlog of 95.0896 trillion won, securing about 3.5 years' worth of work.
Hyundai Engineering & Construction said it achieved 653 billion won in operating profit by overcoming difficulties from the temporary reflection of expenses in some overseas projects and a construction downturn in 2024 through process reviews, stronger schedule control, and a selective bidding strategy. This year, it plans to restructure its business portfolio in line with the completion of high-cost plant sites and a greater share of revenue from urban renewal projects, focusing on securing profit.
Revenue also reached 31.0629 trillion won as large domestic dwellings sites were completed one after another, exceeding the annual revenue target (30.4 trillion won) by 102.2%. Hyundai Engineering & Construction plans to solidify a robust revenue base this year by ramping up work at major domestic dwellings sites such as THE H Classe and overseas sites including Iraq's seawater treatment facilities.
Hyundai Engineering & Construction's cash and cash equivalents (including short-term financial products) total 5.1768 trillion won. Its current ratio, a measure of cash payment capability, rose 4 percentage points to 147.9%, and its liability ratio fell 4.5 percentage points to 174.8%, which a Hyundai Engineering & Construction official said is among the best in the industry. Its credit rating also remains at the industry's top tier, AA- (stable).
Hyundai Engineering & Construction plans to continue its growth trajectory this year based on its technological competitiveness and execution experience in the energy business. To preempt the value chain ecosystem spanning energy production, transportation, and consumption, it will deliver visible results across the energy business, including nuclear power and offshore wind, and solidify its position as a global energy leader.
A Hyundai Engineering & Construction official said, "We are redefining our business model around non-competitive, high value-added projects and building global leading capabilities by posting strong results in clean energy businesses, including nuclear power and renewable energy," adding, "We will continue to lead the energy paradigm shift in step with the global energy era by securing large nuclear power plant and small modular reactor (SMR) projects and entering the data center market."