Seoul: Hyundai Engineering and Construction Co. (Hyundai E and C) reported an 8.6 percent increase in its net profit for the second quarter, driven by major construction endeavors. The company's net profit for the April-June period reached 158.6 billion won (US$113.9 million), a significant rise compared to the previous year, as disclosed in a regulatory filing.

According to Yonhap News Agency, Hyundai E and C's operating profit surged by 47.3 percent on-year to 217 billion won, although sales experienced a decline of 10.4 percent, totaling 7.72 trillion won. The company's earnings surpassed market expectations, with the average net profit estimate by analysts standing at 148.3 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.

The recovery in earnings was attributed to the completion of projects initiated during a period of rising construction costs and the commencement of higher-margin construction phases. Key domestic and international projects, such as Saudi Arabia's Amiral project and Panama's Metro Line 3 project, were instrumental in bolstering the company's performance for the quarter.

For the first half of 2025, Hyundai E and C reported an operating profit of 430.7 billion won, marking an 8.2 percent increase from the previous year. However, sales saw a decline of 11.6 percent, amounting to 15.18 trillion won. A company official stated, "We plan to lay the foundation for innovation in sustainable energy sectors, including large-scale and small modular nuclear reactors (SMRs) and solar power. We will continue exploring new opportunities in data centers and offshore wind to lead the global construction market."