GS Engineering & Construction Sees Slight Decline in Q1 Results... New Orders Up 41%

Sales and Operating Profit Down 0.26% and 0.2% Year-on-Year
New Orders Achieve 32.6% of Annual Guidance

GS Engineering & Construction's first-quarter performance this year showed a slight decline compared to the previous year. In contrast, new orders surged by 41%.

On April 30, GS Engineering & Construction announced that its provisional first-quarter sales amounted to 3.0629 trillion won, a decrease of 0.26% compared to the same period last year. During the same period, operating profit was 70.4 billion won, down 0.20%.

By business division, the Building and Housing Division recorded sales of 2.0096 trillion won, while the Plant Division posted 283.6 billion won. The Infrastructure Division achieved sales of 345.5 billion won, marking a significant growth of 30.8% compared to the same period last year.

New orders in the first quarter reached 4.6553 trillion won, a 41% increase from 3.3018 trillion won in the same period last year. Major new orders in the Building and Housing Division included the Boksan 1 District Housing Redevelopment Maintenance Project (1.1392 trillion won), the Osan Naesammi 2 District Apartment Project (547.8 billion won), and the Sillim 1 Redevelopment Promotion District Maintenance Project (461.6 billion won). In other business divisions as well, the company secured more than 700 billion won in new orders.

GS Engineering & Construction has already achieved 32.6% of its new order guidance for the year, which was set at 14.3 trillion won at the beginning of the year, thereby maintaining a stable growth foundation.

A GS Engineering & Construction official stated, "In a situation where external uncertainties persist, we will focus on securing profitability with an emphasis on substance rather than external growth," and added, "Through selection and concentration, we will solidify the foundation for sustainable management."