Kumho Engineering & Construction's operating profit in the third quarter was 22.2 billion won... 44%↑ compared to last year

Kumho Construction announced on the 12th that its consolidated operating profit in the third quarter of this year was provisionally calculated to be 22.2 billion won, an increase of 44.2% compared to the same period last year.

Third quarter sales were 494.5 billion won, a 5.5% decrease compared to the same period last year, and net profit (12.4 billion won) increased 61%.

As the cost of sales ratio improved by 1.8 percentage points from 93.7% in the same quarter last year to 91.9% this year, the operating profit ratio also increased by 1.6 percentage points from 2.9% to 4.5% during the same period.

As of the third quarter, this year's accumulated new orders amounted to KRW 2.8481 trillion, an increase of 91.5% compared to the same period last year, exceeding this year's annual order target of KRW 2.7 trillion.

By sector, orders increased in all sectors: KRW 1.2799 trillion in construction (180% increase), KRW 927.8 billion in housing (60% increase), and 640.4 billion KRW in civil engineering (42% increase).

In particular, Kumho Engineering & Construction reported that it showed competitiveness by recording orders worth KRW 1.4078 trillion in the private-participation public housing project implemented by Korea Land and Housing Corporation (LH).

As of the end of the third quarter, the order backlog was KRW 10.1963 trillion, an increase of 9.8% (KRW 906.9 billion) compared to the end of last year.

The consolidated debt ratio was 337.2% at the end of the third quarter, down 68.3% from the end of the previous quarter (405.5%) and 183.0% from the end of last year (520.2%), showing that the financial structure is also improving.

An official from Kumho Engineering & Construction said, "We are achieving positive results in key management indicators, such as increasing new orders as well as recovering profitability through improved cost-to-cost ratio," and added, "Based on our abundant order backlog, we will maintain a stable business foundation and continue the trend of improving profitability."