DBD Engineering report strong Q3 growth
DBD Engineering report strong Q3 growth
DBD Engineering Plc, the first company to list on the Cambodia Securities Exchange’s (CSX) secondary Growth Board, reported robust growth in the third quarter, despite a slowdown in the local construction sector.
The multi-purpose engineering and construction firm posted a total operating profit of 1.505 billion riel ($370,272) in Q3 2023, a rise of 17.9% from the 1.276 billion riel ($311,411) recorded in the preceding quarter, according to their report to the local bourse on November 8.
Neang Vithy, chairman and managing director at DBD, credited the increase in operating revenue to substantial growth in gross profits by 2382.52% and other income by 566.95%.
He highlighted that the revenue uplift was due to a 34.18% rise in construction revenue and a 447.66% surge in the sale of goods.
“I wish to convey my gratitude to the board of directors, management and staff for their sound advice and unwavering dedication that has sustained the company’s growth,” he said in the filing.
Established in 1995, DBD provides a range of services, including design, construction, installation and maintenance.
The company’s revenues are categorised into construction and maintenance, sales of goods and other income, focusing primarily on mechanical, electrical and plumbing (MEP), alongside civil engineering works, as reported in the firm’s financial statement.
The report disclosed DBD’s involvement in key projects like the Wing Tower construction and MEP system installation at the nexus of Monivong and Kampuchea Krom boulevards in the capital, slated for completion within the year.
DBD is executing a project for a biomass steam boiler plant in collaboration with Singapore’s Berkeley Energy Commercial and Industrial Solutions (BECIS) to supply bio-steam power to Heineken.
The company has also been integral to several major developments, such as AEON 1 & 2, North Park Condominium and Chip Mong Sen Sok, 598 and 271.
The Kingdom’s construction sector, particularly large-scale projects, has seen a substantial recovery in the second quarter of 2023.
The Ministry of Land Management, Urban Planning and Construction sanctioned 826 investment projects totaling $1.5 billion in Q2, marking a 130.2% increase in approved capital investment over the same period in 2022, despite a decrease of 173 projects from the previous year, as reported by the Ministry of Economy and Finance in September.
From April to June 2023, the land management ministry approved housing construction projects totaling $607.5 million, dominating the sector’s investments, followed by industrial, commercial, public and tourism-related construction.
In June 2023, there was a 20.3% increase in approved construction projects over June 2022, with capital investments soaring by 92.1% to $440.4 million, as per the finance ministry.
