Hyundai E&C Achieves Last Year’s Business Goal
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Hyundai E&C Achieves Last Year’s Business Goal
Logs 753.5 billion won in operating profit, a 37.3 year-on-year jump

24(Thu), Mar, 2022

Provisional figures showed that Hyundai E&C posted 18,065.5 billion won in sales, 753.5 billion won in operating profit and 549.5 billion won in net profit. 

Hyundai E&C saw new orders amount to 30,269 billion won last year, an 11.5 percent year-on-year surge. 

The figure represents 119.2 percent of last year’s goal of 25,400 billion won. 

Backlog of orders stood at 78,760.8 billion won as of the end of last year, a 20.7 percent year-on-year surge over the end of the previous year. 

A Hyundai E&C official said the contractor will concentrate on the construction work sector with a regional and technology edge, based on overseas project experiences and technology expertise this year. 

The organization will lead a variety of domestic projects, such as urban renewal project and new energy transition projects. 

Among Hyundai E&C’s orders were domestic projects, including a new multi-purpose facility project in Unjeong, Paju, a redevelopment project in the Beomcheon 4 District in Busan, and an offshore wind power farm in Hallim, Jeju Island. 

Some international orders consisted of a new airport passenger terminal project in Chinchero, Peru, and a project for 380 KV power lines between substations in Hail and Al-Jawf, Saudi Arabia. 

Hyundai E&C saw sales rise 6.5 percent year-on-year to 18,065.5 billion won on the back of a solid performance of the domestic housing sector and actualization of overseas plant projects, such as a gas refining complex project in Marjan, Saudi Arabia and Barah Oil’s refinery plant upgrade in Iraq.

The contractor saw its operating profit surge 37.3 percent year-on year to 753.5 billion won. Its cash and cash equivalents, including short-term financial instruments, stood at 5,281 billion won and its net cash amounted to 3,121.2 billion won. 

Hyundai E&C saw its current ratio and debt ratio stand at 191.1 percent and 108.2 percent, respectively, thanks to continued improving of financial soundness. The contractor retained the industry’s highest credit rating of AA.

Hyundai E&C aims to win orders worth 28.37 trillion won this year. The contractor aims to earn sales from the actualization of overseas mega projects, such as the gas refining complex project in Marjan, Saudi Arabia, and a project involving Line 3 of the metro system in Panama. In Korea, the contractor plans to log 19.7 billion won in sales from domestic projects. 

A Hyundai E&C official said, “Hyundai E&C will pursue sustainable growth by attaching top priority on safety and quality and be armed with future competitiveness with new energy transition businesses such as small modular reactor (SMR) and hydrogen plants.”

Hyundai E&C received the main award for “The Clean Zone”, a fine dust reduction product of “‘THE H’ at iF Design Award 2021.” (Photo: Hyundai E&C)

Hyundai E&C Wins Main Prize at ‘iF Design Award 2021’

Hyundai E&C received the main award for “The Clean Zone”, a fine dust reduction product of “‘THE H’ at iF Design Award 2021.”

IF Design Award is a global design competition held annually in Germany since 1953, and is recognized as one of world’s top three design awards, along with the Idea Design Awards and the Red Dot Awards. 

The competition selects the best design products through high standards of screening such as design innovation, user benefits, and social responsibility. 

In the latest competition, Hyundai E&C was the only Korean construction company to be honored with the main award. “The Clean Zone” has already won the U.S. Architizer A+ Award, Korea Good Design Award and the Korean Color Award.

“The Clean Zone”, a combination of Air Washer and Mist Cooling Fog System, is a pollutant reduction product specialized in COVID-19 situation. 

“The Clean Zone” can be installed to effectively remove and sterilize remaining pollutants in the body before entering indoors after outdoor activities. Clean wind from Air Washer removes fine dust on shoes or clothes and cleanses pollutants on hands.

In particular, the Mist Cooling Fog System was highly praised for bringing comfort to the surrounding environment, effectively eliminating fine dust, and implementing sensuous design. 

Starting with “THE H Honor Hills,” Hyundai E&C plans to install “The Clean Zone” in “THE H La Class” and “THE H Xi Gaepo.” 

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