This photo provided by Hyundai E&C Co. shows the company’s headquarters in Seoul. (Yonhap)
SEOUL, July 18 (Korea Bizwire) – Hyundai Engineering & Construction (E&C) Co. said Friday its second-quarter net profit rose over 8 percent on-year, backed by the company’s major construction projects.
The company’s net profit for the April-June period totaled 158.6 billion won (US$113.9 million), up 8.6 percent from a year earlier, the company said in a regulatory filing.
Operating profit jumped 47.3 percent on-year to 217 billion won. Sales decreased 10.4 percent to 7.72 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 148.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Hyundai E&C said the earnings recovery was led by the completion of projects that were launched during a period of construction cost increases, along with the start of higher-margin construction phases.
Major domestic projects and overseas sites, including Saudi Arabia’s Amiral project and Panama’s Metro Line 3 project, supported the company’s performance for the quarter.
For the first half of 2025, Hyundai E&C posted an operating profit of 430.7 billion won, up 8.2 percent from a year earlier. Sales came to 15.18 trillion won, down 11.6 percent.
“We plan to lay the foundation for innovation in sustainable energy sectors, including large-scale and small modular nuclear reactors (SMRs) and solar power,” a company official said. “We will continue exploring new opportunities in data centers and offshore wind to lead the global construction market.”
(Yonhap)
