Daewoo Engineering & Construction Co., Ltd. financial statements, 6 years: Turned to a loss in 2025: a net loss of KRW 916.1bn
Consolidated financial statements for 2020–2025 and the 2026 half-year report that Daewoo Engineering & Construction Co., Ltd. filed with DART, laid out by year. No interpretation or outlook.
Daewoo Engineering & Construction Co., Ltd. financial statements, 6 years: Turned to a loss in 2025: a net loss of KRW 916.1bn
The consolidated financial statements in the 2020–2025 annual reports that Daewoo Engineering & Construction Co., Ltd. (047040) filed with Korea’s DART electronic disclosure system, laid out by year. Figures from the 2026 half-year report cover a different period and are shown separately. Every figure below is taken as filed in the DART submissions; there is no interpretation or outlook. Amounts are in Korean won (KRW; bn = billion, tn = trillion).
1. Income statement — the sign of net income changed in 2025
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 8.14tn | — | 558.3bn | — | 6.9% | 282.6bn |
| 2021 | 8.69tn | +6.74% | 738.3bn | +32.25% | 8.5% | 484.9bn |
| 2022 | 10.42tn | +19.97% | 760.0bn | +2.94% | 7.3% | 508.0bn |
| 2023 | 11.65tn | +11.79% | 662.5bn | −12.83% | 5.7% | 521.5bn |
| 2024 | 10.50tn | −9.82% | 403.1bn | −39.15% | 3.8% | 242.8bn |
| 2025 | 8.05tn | −23.32% | −815.4bn | turned to loss | −10.1% | −916.1bn |
Revenue was largest in 2023 at KRW 11.65tn and smallest in 2025 at KRW 8.05tn among the six years. It fell from the previous year twice: 2024 (−9.82%), 2025 (−23.32%).
Operating income was largest in 2022 at KRW 760.0bn and smallest in 2025 at KRW −815.4bn. The operating margin was highest in 2021 at 8.5%.
Net income was largest in 2023 at KRW 521.5bn and smallest in 2025 at KRW −916.1bn.
2. Financial position — equity became 1.30x
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 9.31tn | 2.68tn | 247.6% | 121.0% |
| 2021 | 10.46tn | 3.22tn | 225.2% | 141.6% |
| 2022 | 11.14tn | 3.72tn | 199.1% | 148.5% |
| 2023 | 11.24tn | 4.06tn | 176.8% | 159.3% |
| 2024 | 12.66tn | 4.33tn | 192.1% | 211.0% |
| 2025 | 13.36tn | 3.47tn | 284.5% | 194.1% |
The debt ratio was highest in 2025 at 284.5% and lowest in 2023 at 176.8%.
Over the same period total assets went from KRW 9.31tn to KRW 13.36tn (1.44x), and total equity went from KRW 2.68tn to KRW 3.47tn and became 1.30x.
The current ratio was above 100% in all six years, ranging from 121.0% to 211.0%.
3. Cash flow — negative in 3 years
| Fiscal year | Operating cash flow | Net income | ROE |
|---|---|---|---|
| 2020 | 408.4bn | 282.6bn | 10.6% |
| 2021 | 1.75tn | 484.9bn | 15.1% |
| 2022 | −423.1bn | 508.0bn | 13.6% |
| 2023 | −832.8bn | 521.5bn | 12.8% |
| 2024 | −1.28tn | 242.8bn | 5.6% |
| 2025 | 462.9bn | −916.1bn | −26.4% |
Operating cash flow was negative in 2022, 2023 and 2024. It was largest in 2021 at KRW 1.75tn.
ROE was highest in 2021 at 15.1% and lowest in 2025 at −26.4%.
4. Latest half-year report (end of H1, 27th fiscal period, consolidated basis)
The period differs, so these figures cannot be compared directly with the annual tables above. Only cumulative figures for the same period of the previous year are compared.
| Item | 2026 cumulative | Same period last year | Change |
|---|---|---|---|
| Revenue | 3.99tn | 4.35tn | −8.16% |
| Operating income | 487.9bn | 233.5bn | +108.92% |
| Net income | 363.0bn | 15.0bn | +2312.25% |
| Finance income | 46.0bn | 57.1bn | −19.52% |
| Operating cash flow | −931.6bn | — | — |
At the end of the period, total assets were KRW 14.39tn, total liabilities KRW 10.46tn and total equity KRW 3.92tn.
The cumulative operating margin was 12.2%.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: 중흥토건 (name as filed), stake 40.60%
- No cash dividend was reported in the 2025 annual report
- Employees: 5,146, average pay per employee KRW 99m
How to read this
This page lays out the filed figures by year and nothing more. Financial statements do not say why the numbers moved, so neither do we.
The order of publication follows revenue in the latest fiscal year and has nothing to do with the content.
To check the same figures, search for the company on DART and open the consolidated financial statements in its annual reports. Every number here was computed from the 2020–2025 annual reports and the interim report downloaded through the OpenDART API on 2026-10-21; ratios divide the filed account amounts.
This article is for information only and is not investment advice.