*This content was translated by AI.
DL E&C maintained the 'AA-(Stable)' rating, the highest in the construction industry, in NICE Credit Rating's regular credit rating assessment.
DL E&C has maintained the 'AA-(Stable)' rating for eight consecutive years since 2019, continuing to uphold the highest level of creditworthiness in the industry.
In its evaluation report, NICE Credit Rating cited DL E&C's diversified business portfolio, strong competitive advantage, and stable business foundation as key grounds for this rating. The agency also highly evaluated the company's recovery in profitability due to improved cost ratios in the housing sector, robust cash generation capabilities, and excellent financial stability.
Regarding the recent notification by Saudi Arabian tax authorities on corporate tax imposition, the agency assessed that the impact on the company's business and financial stability in the short to medium term would be limited, considering that there are currently no ongoing projects in Saudi Arabia and that the company plans to proceed with an appeal process without paying the tax amount.
DL E&C recorded a consolidated operating profit of 157.4 billion won and an operating profit margin of 9.1% for the first quarter of this year. Operating profit increased by 94.3% year-on-year, while the operating profit margin rose by 4.6 percentage points compared to the same period last year. Net income also reached 160.1 billion won, marking a 429.5% increase year-on-year.
A DL E&C official, speaking via telephone with this newspaper, stated, "We will continue to pursue stable performance improvement and enhance corporate valuation based on profitability-focused solid management and thorough risk management."
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*This content was translated by AI.
