GS Engineering & Construction (006360) Q4 2024 earnings summary

Executive summary

• Achieved a significant turnaround in profitability for 2024, with operating profit reaching KRW 286.0 billion and net income at KRW 263.9 billion, reversing losses from 2023.

• New orders surged 95.5% year-over-year to KRW 19.9 trillion, with a particularly strong Q4 showing a 176.3% increase.

• Sales revenue for 2024 declined 4.3% year-over-year to KRW 12.9 trillion, despite a 2.0% increase in Q4 sales compared to the prior year.

Financial highlights

• Consolidated operating profit for 2024 was KRW 286.0 billion, compared to a loss in 2023.

• Net income for 2024 reached KRW 263.9 billion, a substantial improvement from the previous year.

• Debt ratio improved by 12.5 percentage points to 250.0% at year-end 2024.

• Cash, cash equivalents, and short-term financial instruments totaled KRW 2.6 trillion.

Outlook and guidance

• 2025 business plan targets new orders of KRW 14.3 trillion and sales of KRW 12.6 trillion.