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, DL E&amp;C posted consolidated revenue of W1.91tr (-0.6% YoY) and operating profit of W116.8bn (+40% YoY), with the latter slightly beating the consensus (W107.6bn).</li><li>DL E&amp;C (parent + overseas) saw growth in the plant (+44% YoY) and housing (+7% YoY) segments, but the positive impact was offset by lower revenue from DL Construction (-35% YoY), causing consolidated revenue to remain largely flat YoY.</li><li>However, consolidated operating profit jumped 40% YoY, driven by improved cost ratios in the housing division. </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, DL E&amp;C posted consolidated revenue of W1.91tr (-0.6% YoY) and operating profit of W116.8bn (+40% YoY), with the latter slightly beating the consensus (W107.6bn).DL E&amp;C (parent + overseas) saw growth in the plant (+44% YoY) and housing (+7% YoY) segments, but the positive impact was offset by lower revenue from DL Construction (-35% YoY), causing consolidated revenue to remain largely flat YoY.However, consolidated operating profit jumped 40% YoY, driven by improved cost ratios in the housing division. 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)Solid 3Q25 Results, but Full-Year Guidance Lowered