Hyundai Engineering & Construction headquarters. [Hyundai E&C]
Hyundai Engineering & Construction headquarters. [Hyundai E&C]

Hyundai Engineering & Construction announced Friday that its preliminary consolidated earnings for the first half of this year showed sales of 13.12 trillion won ($9.11 billion) and operating profit of 442.7 billion won.

New orders rose 36.4 percent year-on-year to 22.82 trillion won, driven by large-scale overseas projects and competitively differentiated products. Key contributors included group-synergy projects such as a US electric arc furnace steel mill and the Bokjeong Station transit-oriented mixed-use development, along with high-value-added projects.

The order backlog surpassed 100 trillion won for the first time in the company's history, reaching 103.98 trillion won — up 9.4 percent from a year earlier — securing roughly 3.8 years of work and laying the groundwork for medium- to long-term growth.

Sales fell 13.5 percent from the same period last year to 13.12 trillion won, while operating profit rose 2.8 percent to 442.7 billion won. Improved cost ratios in the housing segment and a higher share of adequate-return projects drove the operating profit recovery, bringing the company to 55.3 percent of its annual target.

Cash and cash equivalents, including short-term financial instruments, stood at 3.86 trillion won. The debt ratio fell 19.6 percentage points to 155.2 percent, while the current ratio edged up 0.3 percentage points to 148.2 percent.

Hyundai E&C conducted an asset revaluation to reflect the true value of its holdings, strengthening its capital base and financial soundness. The company maintained an AA- credit rating — the highest tier in the industry — supporting business continuity.

In the second half, Hyundai E&C plans to continue pursuing orders for strategic products and profit-focused projects to navigate external uncertainties including geopolitical risks. The company also intends to actively identify new growth businesses under H-Road, its long-term growth strategy aimed at realizing a future vision and setting new standards for the construction industry.

"The diversification of our business portfolio, built on differentiated technological competitiveness and global execution capabilities, is translating into tangible results," a company official said. "We plan to further consolidate our competitive edge in sustainable energy — including large nuclear power plants, small modular reactors and solar power — and to actively expand business opportunities at home and abroad in new growth areas such as data centers and offshore wind."

Hyundai E&C earlier this year declared its transition into a comprehensive energy solutions company.


lucky@heraldcorp.com