Seoul: Daewoo Engineering and Construction Co. on Thursday reported its 2024 net income reached 242.8 billion won (US$168 million), down 53.4 percent from a year earlier. Operating profit for the year came to 403.1 billion won, reflecting a 39.2 percent decrease from the previous year, the company stated in a regulatory filing.
According to Yonhap News Agency, the company's annual revenue fell 9.8 percent to 10.5 trillion won. Daewoo E and C's financial performance in 2024 indicates substantial challenges, with both net income and operating profit experiencing significant declines. The company did not specify the reasons behind the downturn in its earnings report.