#South Korea #Seoul #Dubai #Ssangyong E&C #Global Sae-A Group

Ssangyong E&C: A New Era of Growth

Entering its fourth year as part of the Global Sae-A Group, Ssangyong Engineering & Construction (Ssangyong E&C) has witnessed a remarkable resurgence in its operational performance and financial stability. Since integrating into the group in December 2022, the company has carved a promising path characterized by enhanced international project capacities, substantial revenue growth, and an impressive increase in order backlog.

The momentum for Ssangyong E&C has ramped up significantly, particularly as it secured major overseas contracts, including a notable USD 250 million project for the Avenue Park Towers in Dubai, commissioned by WASL, a state-owned real estate developer. This project is part of a broader expansion strategy that has seen overseas orders soar from USD 121 million in 2022 to a striking USD 650 million in 2025. Such an increase not only underscores Ssangyong's resurgence as a recognized international contractor but also highlights its ability to leverage the Global Sae-A Group's synergies for sustained growth.

Domestically, Ssangyong's performance has been equally commendable. The completion of projects such as the ASML Hwaseong Campus valued at USD 220 million has solidified its reputation in the building construction sector. The company has also been proactive in pursuing further development contracts like the renovation of the 63 Square Exhibition Hall in Yeouido and the Banyan Tree Hotel project in Busan, demonstrating its multifunctional capabilities. Looking forward, Ssangyong aims to deliver about 6,000 new apartment units across South Korea in 2026, further establishing its market presence.

The civil engineering sector has seen Ssangyong EC expanding its order portfolio by securing contracts for two sections of the Southern Inland Railway, with a total value of USD 330 million. Moreover, the company's formation of a dedicated Energy Business Team reflects its commitment to embracing renewable energy projects that align with contemporary global priorities.

Financially, the impact of joining forces with Global Sae-A has strengthened Ssangyong EC’s economic foundation. The company has recorded substantial increases in revenue from USD 1.17 billion in 2022 to an anticipated USD 1.3 billion in 2025. A noteworthy turnaround in profitability has been observed as well - the operating profit escalated from USD 24 million in 2023 to an estimated USD 44 million by 2025. This fiscal growth can largely be attributed to strategic capital measures, including a USD 110 million injection from Global Sae-A and a subsequent USD 37 million issuance in hybrid capital securities.

As a result, Ssangyong's financial metrics have considerably improved, with a drastic reduction in the company's debt ratio forecasted to drop from an alarming 753% at the end of 2022 to a much more sustainable mid-150% in the 2025 fiscal reports. Such transformations in financial health have not gone unnoticed, as the company's construction capability ranking improved by 10 places, positioning it at 23rd overall, with the potential for further advancements as new orders are secured.

To support its ongoing expansion and projects pipeline, Ssangyong EC plans to enhance its workforce by recruiting around 30 new graduates in various fields such as building construction, civil engineering, plant engineering, and management in March. This initiative highlights the company’s focus on future growth and innovation.

In summary, as Ssangyong Engineering & Construction continues to thrive under the Global Sae-A Group's umbrella, the future looks promising with an upward trajectory in both domestic and international markets. Its strategic investments, diversified projects, and an unwavering commitment to quality ensure that Ssangyong is set to carve out an impactful presence in the global construction landscape.