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DL E&C continued to improve its performance in 2025, and realized profitability-focused sound management based on financial stability.
DATE 2026.02.06
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DL E&C continued to improve its performance in 2025, and realized profitability-focused sound management based on financial stability.
- Operating profit increased by over 40% compared to the end of 2024, confirming the results of profitability improvement
- Continued rigorous risk management and cash flow-centered operations
- Debt ratio significantly improved to 84%: maintained the industry’s highest level of financial stability
- Sets 2026 management targets: KRW12.5 trillion in winning orders, and 7.2 trillion in revenue
DL E&C disclosed on the 6th through a preliminary earnings announcement that it expects annual revenue of KRW7.4024 trillion and an operating profit of KRW387 billion for 2025, on a consolidated basis. Operating profit increased by 42.8% compared to KRW270.9 billion in the fourth quarter of 2024, and the operating profit margin also improved by 1.9 percentage points, rising from 3.3% to 5.2%. Changes in the earnings structure were observed as business operational efficiency increased, centered on strengthened risk management and cash flow management. Consequently, financial stability was reinforced, and the debt ratio was lowered to 84%, the highest level in the industry.
▣ Clear progress in transition to profitability structure in 2025
A distinct shift in the profit structure was evident in the 2025 annual results. Gross profit expanded to KRW900.2 billion and net income reached KRW395.6 billion, indicating a positive trend across overall profitability indicators. The housing business division and the construction division of subsidiary DL E&C strengthened the management of process and cost, and reduced the proportion of high-risk projects, which drove the recovery of profitability. Furthermore, the plant business expanded its share of total revenue, and contributed to the increase in operating profit. DL E&C continues to conduct business operations focused on annual profitability and cash flow rather than short-term quarterly earnings volatility. Based on this operational stance, the Company is continuously strengthening the foundation for mid-to-long-term performance improvement.
▣ Securing a foundation for mid-to-long-term growth based on strategy for wining selective orders and enhanced financial stability
DL E&C recorded KRW9.7515 trillion won in winning new orders for the year 2025. Based on strategy for wining selective orders centered on projects with guaranteed profitability, the Company maintained a stable flow of winning orders even amidst an uncertain business environment. In particular, the Company established a dedicated organization for public redevelopment projects under the Urban Redevelopment Team, and won orders for major projects such as Yeonhui, Jangwi, and Jeungsan. The Company also plans to actively continue its bidding activities for public redevelopment projects in Seoul this year. Furthermore, leveraging the overwhelming market competitiveness of its high-end brand Acro, the Company is actively targeting large-scale urban redevelopment projects in key areas of Seoul, such as Apgujeong, Mokdong, and Seongsu. Beyond housing projects, the company plans to expand new orders for data centers and power plants, where demand is surging globally, in order to diversify its business portfolio.
Despite challenging construction market conditions, the financial structure has further improved. As of the end of the fourth quarter of 2025, the debt-to-equity ratio stood at 84%, a significant decrease compared to the end of 2024 (100.4%). Cash and cash equivalents stood at 2.0532 trillion won, borrowings at 963.6 billion won, and net cash at 1.0896 trillion won. Based on stable cash flow and conservative financial management, the company has maintained an ‘AA-’ credit rating—the highest level in the construction industry—for seven consecutive years since 2019.
Despite challenging market conditions in the construction industry, the Company’s financial structure has further improved. As of the end of the fourth quarter of 2025, the debt-to-equity ratio stood at 84%, a significant decrease from 100.4% at the end of 2024. Cash and cash equivalents totaled KRW2.0532 trillion, borrowings stood at KRW963.6 billion, and net cash stood at KRW1.0896 trillion. Based on stable cash flow and conservative financial management, the Company has maintained an ‘AA-’ credit rating —the highest level in the construction industry — for seven consecutive years since 2019.
The Company's annual targets for this year on a consolidated basis are KRW12.5 trillion in winning orders and KRW7.2 trillion in revenue. The Company plans to further refine profitability assessment criteria across housing, civil engineering, and plant sectors, and to continue a selective order strategy based on this.
An official from DL E&C said “2025 was a year in which we confirmed the results of our structural improvements through profitability-focused business operations, thorough risk management, and strengthened cash flow.” The official added, “In 2026, we will maintain a stance of selective ordering and financial stability, continuing the trend of performance improvement based on our proven profitability structure.”
