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DL E&C Donuimun D Tower headquarters building. (Photo = DL E&C) |
[Alpha Biz= Kim Sangjin] DL E&C, ranked 5th in construction capability, has released its preliminary results for 2024. While its annual sales increased, operating profit declined. However, in the fourth quarter, both sales and operating profit grew compared to the same period last year.
According to the Financial Supervisory Service's electronic disclosure system on Thursday, DL E&C reported sales of 8.3184 trillion won for last year, a 4.1% increase from the previous year's 7.991 trillion won.
Operating profit was 2.709 trillion won, a decrease of 18.1% compared to the previous year's 3.307 trillion won. Net income for the year rose by 13.4% to 2.292 trillion won, up from 2.022 trillion won in 2022.
For the fourth quarter, sales were 2.4388 trillion won, and operating profit reached 694.1 billion won. This marked increases of 4.5% and 6.7%, respectively, compared to the same period last year (2.333 trillion won in sales and 88.2 billion won in operating profit). Net income for the quarter saw a remarkable 1915% increase, reaching 177.3 billion won, compared to just 5.8 billion won in the same period last year.
DL E&C explained that the annual decline in operating profit was due to cost rate adjustments and provisions for bad debt by its subsidiary, DL Construction. For the fourth quarter, sales, operating profit, and new orders all showed an upward trend compared to the previous quarter. Compared to the prior quarter, fourth-quarter sales, operating profit, and new orders increased by 27%, 13%, and 20%, respectively.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
