External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

Daewoo Engineering & Construction / Equity Bottom-Up

Daewoo Engineering & Construction (047040 KS)

<ul><li>For 3Q25, Daewoo E&amp;C reported consolidated revenue of W2tr (-22% YoY), continuing the downward trend observed throughout the year.</li><li>Operating profit came in at W56.6bn (-9.1% YoY), missing the consensus (W85.5bn) by 34%.</li><li>Although housing gross margin surpassed 10% for the second consecutive quarter, operating profit was weighed down by: 1) W49bn in losses from overseas civil engineering projects (Iraq and Singapore); and 2) W13bn in A/S costs tied to two Kuwait plant projects nearing completion.  </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

For 3Q25, Daewoo E&amp;C reported consolidated revenue of W2tr (-22% YoY), continuing the downward trend observed throughout the year.Operating profit came in at W56.6bn (-9.1% YoY), missing the consensus (W85.5bn) by 34%.Although housing gross margin surpassed 10% for the second consecutive quarter, operating profit was weighed down by: 1) W49bn in losses from overseas civil engineering projects (Iraq and Singapore); and 2) W13bn in A/S costs tied to two Kuwait plant projects nearing completion.  Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Daewoo E&C (047040 KS/Buy)Earnings Miss Consensus on Overseas Cost Burden