Daewoo Engineering & Construction said April 28 it posted sharply higher profit in the first quarter of 2026, citing improving margins in its building business.
On a consolidated basis, revenue totaled 1.9514 trillion won, operating profit was 255.6 billion won and net profit came to 195.8 billion won.
Revenue fell 6.0% from 2.0767 trillion won a year earlier. By segment, the company booked 1.2732 trillion won from building construction, 350.6 billion won from civil engineering, 284.0 billion won from plant work and 43.6 billion won from other businesses.
Operating profit rose 68.9% from 151.3 billion won in the same period last year, while net profit increased to 195.8 billion won from 58.0 billion won. The company said revenue was broadly in line with market expectations, but profit measures exceeded forecasts.
Daewoo E&C said profitability in the building segment improved as projects launched during a period of rising costs have gradually been completed. It added that uncertainty remains, including risks in the Middle East, but said it will continue pursuing its targets through management capabilities.
New orders totaled 3.4212 trillion won, up from 2.8238 trillion won a year earlier, driven largely by domestic projects including the Busan Sajik District 4 redevelopment, Cheonan Upseong 3 A1BL and the Seoul Jangwi District 10 redevelopment.
As of the end of the first quarter, the company’s total order backlog stood at 51.8902 trillion won, which it said represents about 6.4 years of work based on annual revenue.
A Daewoo E&C official said the company plans to expand the share of energy infrastructure projects such as nuclear power and LNG, while broadening its portfolio through overseas urban development, data centers and urban renewal projects.
The official said the company will also focus on securing large projects, including the Czech nuclear power plant, land development for the new Gadeokdo airport, the Al Faw port naval base in Iraq and an LNG facilities project in Papua New Guinea.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.