GS Engineering & Construction Corp financial statements, 6 years: Back to a profit in 2024 after a net loss of KRW 419.5bn in 2023
Consolidated financial statements for 2020–2025 and the 2026 half-year report that GS Engineering & Construction Corp filed with DART, laid out by year. No interpretation or outlook.
GS Engineering & Construction Corp financial statements, 6 years: Back to a profit in 2024 after a net loss of KRW 419.5bn in 2023
The consolidated financial statements in the 2020–2025 annual reports that GS Engineering & Construction Corp (006360) 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 2 years
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 10.12tn | — | 750.4bn | — | 7.4% | 329.7bn |
| 2021 | 9.04tn | −10.73% | 646.5bn | −13.85% | 7.2% | 428.8bn |
| 2022 | 12.30tn | +36.10% | 554.8bn | −14.18% | 4.5% | 441.2bn |
| 2023 | 13.44tn | +9.25% | −387.9bn | turned to loss | −2.9% | −419.5bn |
| 2024 | 12.86tn | −4.26% | 286.0bn | turned to profit | 2.2% | 263.9bn |
| 2025 | 12.45tn | −3.21% | 437.8bn | +53.10% | 3.5% | 93.4bn |
Revenue was largest in 2023 at KRW 13.44tn and smallest in 2021 at KRW 9.04tn among the six years. It fell from the previous year 3 times: 2021 (−10.73%), 2024 (−4.26%), 2025 (−3.21%).
Operating income was largest in 2020 at KRW 750.4bn and smallest in 2023 at KRW −387.9bn. The operating margin was highest in 2020 at 7.4%.
Net income was largest in 2022 at KRW 441.2bn and smallest in 2023 at KRW −419.5bn.
2. Financial position — equity became 1.28x
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 13.77tn | 4.31tn | 219.3% | 126.6% |
| 2021 | 15.18tn | 4.87tn | 211.6% | 121.1% |
| 2022 | 16.95tn | 5.36tn | 216.4% | 114.7% |
| 2023 | 17.71tn | 4.89tn | 262.5% | 107.8% |
| 2024 | 17.80tn | 5.09tn | 250.0% | 96.0% |
| 2025 | 18.46tn | 5.52tn | 234.2% | 115.9% |
The debt ratio was highest in 2023 at 262.5% and lowest in 2021 at 211.6%.
Over the same period total assets went from KRW 13.77tn to KRW 18.46tn (1.34x), and total equity went from KRW 4.31tn to KRW 5.52tn and became 1.28x.
The current ratio was below 100% in 1 year, 2024 — in those years current liabilities exceeded current assets.
3. Cash flow — negative in 1 year
| Fiscal year | Operating cash flow | Net income | ROE |
|---|---|---|---|
| 2020 | 553.9bn | 329.7bn | 7.7% |
| 2021 | 1.11tn | 428.8bn | 8.8% |
| 2022 | −7.3bn | 441.2bn | 8.2% |
| 2023 | 469.8bn | −419.5bn | −8.6% |
| 2024 | 267.8bn | 263.9bn | 5.2% |
| 2025 | 591.5bn | 93.4bn | 1.7% |
Operating cash flow was negative in 2022. It was largest in 2021 at KRW 1.11tn.
ROE was highest in 2021 at 8.8% and lowest in 2023 at −8.6%.
4. Latest half-year report (end of H1, 58th 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 | 5.18tn | 6.26tn | −17.24% |
| Operating income | 164.8bn | 232.4bn | −29.09% |
| Net income | 25.1bn | −73.3bn | turned to profit |
| Finance income | 180.6bn | 232.0bn | −22.15% |
| Operating cash flow | 94.4bn | — | — |
At the end of the period, total assets were KRW 18.64tn, total liabilities KRW 12.97tn and total equity KRW 5.66tn.
The cumulative operating margin was 3.2%.
No rate of change is computed for net income, because the sign changed between the two periods.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: 허창수 (name as filed), stake 5.95%
- Cash dividend per share KRW 500, payout ratio 45.40%, dividend yield 2.20%
- Employees: 4,996, average pay per employee KRW 106m
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 2026-10-13; ratios divide the filed account amounts.
This article is for information only and is not investment advice.