GS Engineering and Construction announced on the 30th that its consolidated operating profit for the first quarter of this year was 70.4 billion won, a decrease of 0.2% compared to the same period last year.
Sales decreased by 0.26% to 3.0629 trillion won compared to the same period last year. Net profit fell by 91.21% to 12.3 billion won.
By business division, sales were 200.96 billion won for the architecture and dwellings division, 28.36 billion won for the plant division, and 34.55 billion won for the infrastructure division. While sales in the dwellings business decreased compared to the same period last year, both the plant and infrastructure businesses saw increases. Infrastructure sales rose by 30.8% compared to the same period last year (26.42 billion won).
New orders recorded a 41% increase to 46.553 trillion won. Contracts were awarded for the Ulsan Jung-gu Boksan 1 district housing redevelopment project (11.392 trillion won), the Osan Naesammi 2 district apartment project (5.478 billion won), and the Seoul Sillim 1 redevelopment project (4.616 billion won).
GS Engineering and Construction's new order guidance presented at the beginning of the year was 143 trillion won, and the order achievement rate for the first quarter is around 32.6%.
A representative of GS Engineering and Construction said, “In a situation where external uncertainties continue, we will focus on securing profitability rather than on growth, and strengthen our sustainable management foundation through selection and concentration.”