BS Hanyang Posts First-Half Operating Profit of 97.3 Billion Won, Up 101.4% Year-on-Year

Revenue Up 52.5% Year-on-Year

BS Hanyang announced on August 18 that its consolidated operating profit for the first half of this year reached 97.3 billion won, up 101.4% from the same period last year.

BS Hanyang CI. The Asia Business Daily DB

Revenue for the first half of the year was 758.9 billion won, a 52.5% increase compared to 497.5 billion won in the same period last year, while net profit rose 172.9% to 65.5 billion won. The operating margin improved by 3.1 percentage points, rising from 9.7% in the first half of last year to 12.8% this year.

A BS Hanyang official explained, "Reducing the proportion of low-profit sites and continuing profitability-focused selective order-taking contributed to the improved results."

The cost-to-sales ratio improved by 3.7 percentage points to 79.4%, compared to 83.1% in the same period last year. This is attributed to the sequential completion of projects that were contracted during a period of surging raw material prices, and the commencement of construction at newly won sites with higher profitability.

In the first half, BS Hanyang secured orders for two additional blocks in the Sejong Smart City project, as well as new projects including the Hwaseong Dongtan 2 Medical Complex Town Development, Geomam S2, and Goheung·Gwangyang Battery Energy Storage System (BESS) projects. As of the end of the first half, the company’s order backlog stood at approximately 7.3 trillion won.

A BS Hanyang representative stated, "We will continue our selective order-taking policy in the second half and pursue stable growth centered on profitability and financial soundness."

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