Daewoo E&C Builds Cash Above 2 Trillion Won as It Expands Data Centers and Nuclear Projects

Daewoo E&C is shifting its focus from expanding scale to securing cash and taking selective orders centered on profitability as the construction downturn and property market uncertainty continue. According to its first-quarter report released on the 15th, consolidated revenue stood at 1.9514 trillion won. The building division posted 1.2732 trillion won, or 65.2% of the total, followed by civil engineering at 350.5 billion won and plants at 284.0 billion won. Cash and cash equivalents at the end of the first quarter reached 2.0224 trillion won, up about 193.5 billion won from 1.8288 trillion won at the end of last year. With project-financing distress, unsold housing inventories, and rising construction costs increasing cash pressure across the industry, Daewoo E&C is also accelerating expansion beyond housing into data centers, nuclear power, and energy. The company said it is managing core value-chain risks, including unsold units and move-in risks, from a cash-flow perspective. Source: rss.donga.com