Hyundai Engineering & Construction (A000720) Q3 2025 earnings summary

Executive summary

• Cumulative new orders reached KRW 26,116 billion, achieving 83.9% of the annual target, with strong contributions from both domestic and overseas projects.

• Order backlog stands at KRW 96,091 billion, securing 3.2 years of workload based on 2025 planned revenue.

• Cumulative revenue for 3Q25 was KRW 23,003 billion, representing 75.7% of the annual target, despite a 9.5% year-over-year decline.

• Operating profit improved 4.2% year-over-year to KRW 534 billion, with an operating margin of 2.3%.

• Net profit for the period was KRW 393 billion, nearly flat year-over-year.

Financial highlights

• Gross profit margin increased to 6.0%, up 1.2 percentage points year-over-year.

• SG&A expenses rose 17.8% year-over-year to KRW 838 billion.

• Earnings before tax declined 23.0% year-over-year to KRW 489 billion.

• Net profit attributable to owners of the parent dropped 27.5% year-over-year to KRW 259 billion.

Outlook and guidance

• 76% of the yearly order intake target has been achieved by 3Q, indicating strong momentum toward full-year goals.

• Backlog coverage ensures stable revenue streams for the next several years.