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

<ul><li>For 3Q25, we expect DL E&amp;C to post consolidated revenue of W1.74tr (-10.4% YoY) and operating profit of W103.3bn (+23.9% YoY), with the latter missing the consensus (W109.9bn) by 6%.</li><li>Lower housing revenue and higher costs were likely unavoidable amid tightening safety regulations.</li><li>That said, these negatives were likely partially offset by an improved project mix (e.g., reduced contributions from high-cost projects). </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, we expect DL E&amp;C to post consolidated revenue of W1.74tr (-10.4% YoY) and operating profit of W103.3bn (+23.9% YoY), with the latter missing the consensus (W109.9bn) by 6%.Lower housing revenue and higher costs were likely unavoidable amid tightening safety regulations.That said, these negatives were likely partially offset by an improved project mix (e.g., reduced contributions from high-cost projects). 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.

DL E&C (375500 KS/Buy)Disappointing Order Intake