Daewoo Engineering nstruction : 3Q 2023 Earnings

Investor Relations Q3 2023

Nigeria LNG (Trains 1~3, 5~7) I Currently Constructing Nigeria's NLNG Train 7

(LNG liquefaction plant with an annual capacity of 8 million tons and incidental facilities) / contract amount: 2.1 trillion won

Disclaimer

The financial data included is based on K-IFRS consolidated basis and prior to external audit, it is subject to change.

This presentation is provided solely as reference material. Daewoo Engineering &

Construction assumes no responsibility for investment decisions. We trust that your

investment decisions will be based on your independent judgment.

2

Contents

3

Q3 Business Highlights

4

Order Backlogs

Order Backlogs

Domestic	Overseas
	+1.1%
45,054.5	45,545.5
7,106.0	7,536.8
37,948.5	38,008.7
2022	Q3.2023

Breakdown by Business Type

2022		Q3.2023

33,579.5 33,312.7

7,581.4

7,766.0

4,496.9

3,478.9

230.1

154.5

Civil H&B Plant Others

(Unit : KRW bn)

Domestic H&B Backlogs

Breakdown

Public			Own
359.3	Development
(1.1%)	3,302.4
	(10.1%)

	Private
	Redevelopment
13,322.1
15,709.5
(40.7%)
(48.1%)

Overseas Backlogs

Breakdown

Plant 50.1%, Civil 40.9%, Building 9.0%

5

Sales Revenue

Sales Revenue in Q3

(Unit : KRW bn)

Accumulated Sales Revenue

Breakdown by Business Type

Civil		H&B		Plant		Others

+18.6%	2,990.1
2,520.5	2.6%
13.8%
3.1%
15.7%
	61.8%
61.4%
19.8%	21.8%
Q3.2022	Q3.2023

Civil	H&B	Plant	Others
	+23.0%	8,869.6
				3.4%
7,210.9			13.8%
	3.1%
	13.6%
				62.8%
	64.5%
	18.8%		20.0%
Q3.2022		Q3.2023

Q3.2022		Q3.2023

5,566.8

4,653.5

1,773.7

1,352.51,228.7

980.0

224.9300.4

Civil H&B Plant Others

6

Gross Profit

(Unit : KRW bn)

Quarterly Gross Profit & GPM

Accumulated Gross Profit & GPM

Breakdown by Business Type

13.3%
	11.7%	11.0%	10.2%
			9.9%
	376.4
334.1			333.1
		286.8		295.8
Q3.22	Q4.22	Q1.23	Q2.23	Q3.23

12.2%
	10.3%
+4.4%
877.3	915.8
Q3.2022	Q3.2023

	Q3.22	15.2%
Civil	Q2.23	10.6%
	Q3.23	12.2%
	Q3.22	11.8%
H&B	Q2.23	7.0%
	Q3.23	7.9%
	Q3.22	13.5%
Plant	Q2.23	17.5%
	Q3.23	13.9%
	Q3.22	28.2%
Others	37.1%
Q2.23
	Q3.23	15.7%

7

Operating Profit

(Unit : KRW bn)

Quarterly Operating Profit & OPM

Accumulated Operating Profit & OPM

Accumulated SG&A Expenses

8.2%	7.7%	6.8%	6.7%
	6.4%
	246.8
			217.7
205.5				190.2
		176.7
Q3.22	Q4.22	Q1.23	Q2.23	Q3.23

7.1%	6.6%
+13.9%	584.6
513.2
Q3.2022	Q3.2023

	-9.0%
364.1	331.2
Q3.2022	Q3.2023

8

Summary of Financial Statement

Income Statement

Account	Q3 2022	Q3 2023
Sales Revenue	7,210.9	8,869.6
Gross Profit	877.3	915.8
Gross Profit Margin	12.2%	10.3%
Operating Profit	513.2	584.6
Operating Profit Margin	7.1%	6.6%
Other non-operating	27.7	17.9
Income and Expenses
Finance Income and	-0.2	-17.0
Costs
Pre-tax Profit	540.7	585.5
Net Profit	396.4	412.2
Net Profit Margin	5.5%	4.6%

			(Unit : KRW bn)
Balance Sheet
Account	2022		Q3 2023
Total Assets	11,140.3	11,342.0
Current Assets	8,028.2	8,226.4
Cash & Cash Equivalents	1,423.1	1,199.9
Financial Instrument Assets	847.4	806.5
Total Liabilities	7,415.7	7,241.7
Current Liabilities	5,406.2	5,158.5
Borrowing	2,105.6	2,348.9
Lease Liabilities	403.0	379.9
Total Equity	3,724.6	4,100.3
Account	2022		Q3 2023
Debt Ratio	199.1%		176.6%
PF Loan Guarantee	1,187.9		1,053.7
Un-started PF Balance	964.9		684.0

9

Business Plan Achievement Rate

10