Hyundai Construction announced on July 18 that its consolidated operating profit for the first half of this year reached 430.7 billion won, up 8.2% from the same period last year.
Revenue came in at 15.1763 trillion won, down 11.6% year-on-year. The company explained, "Operating profit has shown a clear recovery this year as sites that began construction during the period of soaring construction costs are being completed sequentially, and major processes with secured profitability are now in full swing."
The company added that major domestic projects such as the Ulsan S-Oil Shaheen Project, Hillstate The Unjeong, and The H Class, as well as key overseas sites including Saudi Amiral Package 4 and Panama Metro Line 3, have also entered a phase of operational stabilization. It has achieved 49.9% of its annual revenue target.
Orders received totaled 16.7344 trillion won, up 0.4%. By the end of the first half, the company had achieved 53.7% of its annual order target of 31.1 trillion won. The company stated that order performance has been driven mainly by urban renewal projects such as the Gaepo Jugong Complex 6 and 7 reconstruction projects, the Busan Beomcheon 4 redevelopment project, as well as high value-added projects like data centers.
The order backlog at the end of the first half stood at 94.7613 trillion won, securing 3.1 years' worth of work. Cash and cash equivalents (including short-term financial instruments) amounted to 3.541 trillion won, and the debt ratio was 167.9%.
A company representative said, "We are accelerating the diversification of our business model, and this year we will lay the foundation for innovation in sustainable energy sectors such as large-scale nuclear power plants, small modular reactors (SMR), and solar power." The representative added, "We will also continue to discover new projects and strive to become a leading company in both the domestic and global construction markets."
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