Daewoo E&C (047040.KS) Q1 2026: Operating Profit Surges 69% as Cost Rate Drops 6.5%p, Cash Burns ₩185B
A post-big-bath margin normalization: the 13.1% operating margin is real, but a ₩185.4 billion operating cash outflow signals that the earnings quality story remains incomplete.
Source: Q1 2026 Quarterly Report (27th Fiscal Year, First Quarter) — Filed March 31, 2026 with DART | Consolidated Financial Statements | Unit: ₩ billions



