Hyundai Engineering and Construction Posts 24.4% Rise in Cumulative Operating Profit Through Q3 to 664.5 Billion Won

[Financial News] Hyundai Engineering and Construction’s cumulative operating profit for the first three quarters of this year rose 24.4% from a year earlier to 664.5 billion won.
Hyundai Engineering and Construction said on the 30th that the figure was based on a preliminary tally of its consolidated results for the third quarter. The increase in operating profit is attributed to tighter cost controls and a larger share of projects with secured profitability. Although revenue declined, it reached 70.7% of the company’s annual guidance of 27.4 trillion won.
The improvement in earnings was more pronounced in the third quarter alone. According to electronic disclosures filed with the Financial Supervisory Service, consolidated operating profit for the quarter was 221.7 billion won, up 114.2% from the same period last year and more than double. This was in line with securities analysts’ consensus. Quarterly revenue, however, fell 20.3% to 6.2406 trillion won, while net profit also declined 31.7% to 46.4 billion won. New orders in the third quarter fell 35.5% to 6.0516 trillion won.
Cumulative orders were led by strategic projects at home and abroad. Hyundai Engineering and Construction came close to its annual target of 33.4 trillion won, increasing its pipeline of high-quality work, particularly through major projects such as an electric-arc-furnace steel mill in the United States and an AI data center in Pohang.
The order backlog rose 4.7% from a year earlier, providing a foundation for stable revenue and medium- to long-term growth. However, compared with the backlog of 103.9831 trillion won at the end of the first half—which topped 100 trillion won for the first time ever—it fell by more than 4 trillion won in three months, dropping below 100 trillion won.
With uncertainty in the external business environment continuing, Hyundai Engineering and Construction plans to maintain its selective order-taking approach, prioritizing profitability and commercial viability. Its strategy is also to move quickly to secure future growth drivers, focusing on the energy transition and high-value-added projects. The company is diversifying its business portfolio by expanding opportunities at home and abroad in sustainable energy businesses such as large-scale nuclear power, small modular reactors (SMRs), solar power and offshore wind, as well as in data centers and mixed-use developments.
A Hyundai Engineering and Construction spokesperson said, “Operating profit continues to improve as a result of our focus on securing profitability through selective order-taking and stronger cost management.” The spokesperson added, “We plan to strengthen our competitive edge in energy and infrastructure markets, drawing on our global project execution capabilities and differentiated technological expertise, and to solidify the foundation for sustainable growth by expanding future growth businesses.”

[email protected] Jeong Gyeong-su Reporter