HD Hyundai Q1 Operating Profit 610.9 Billion KRW... 122.6% Increase from Previous Quarter

Sales of 15.2 Trillion Won... Solid Performance in Shipbuilding and Refining Sectors

On the 27th, HD Hyundai announced through a public disclosure that it recorded consolidated sales of KRW 15.274 trillion and operating profit of KRW 610.9 billion for the first quarter of this year.

Compared to the previous quarter, sales decreased by 7.5% due to seasonal factors, but operating profit increased by 122.6%. This was due to the shipbuilding division maintaining a profit trend, along with solid performance from major businesses such as refining, construction equipment, and power equipment.

HD Hyundai Heavy Industries recorded sales of KRW 4.8424 trillion, similar to the previous quarter, despite a decrease in operating days due to holidays and other factors. This was driven by an increase in shipbuilding volume and the full-scale reflection of sales from high value-added vessels such as LNG (liquefied natural gas) carriers. Operating profit was KRW 58.5 billion, continuing a profit trend for three consecutive quarters following the third and fourth quarters of last year. It is expected that profits will further expand as the sales proportion of high value-added vessels gradually increases.

HD Hyundai Oilbank, the refining division, posted sales of KRW 7.3987 trillion and operating profit of KRW 259 billion. Compared to the end of last year, the decline in oil prices eased, reducing inventory-related losses, and gasoline margins also improved, resulting in an increase in operating profit compared to the previous quarter.

HD Hyundai Site Solutions, the construction machinery division, recorded sales of KRW 2.373 trillion and operating profit of KRW 231.6 billion. Sales increased by 10.8% compared to the previous quarter due to increased demand in North America, Europe, and emerging markets for construction machinery, as well as continuous growth in the engine division. Operating profit increased by 165% thanks to price increases, optimization of product sales proportions by market, and efforts to improve profitability.

HD Hyundai Electric achieved sales of KRW 568.6 billion and operating profit of KRW 46.3 billion, supported by strong demand in the Middle East and North American markets, selective order strategies, and profitability improvements from price increases in mass-produced products.

HD Hyundai Global Service recorded sales of KRW 321.1 billion and operating profit of KRW 45.5 billion, driven by continued expansion in sales of highly profitable ship parts services and eco-friendly ship retrofits.

HD Hyundai Energy Solutions posted sales of KRW 140.8 billion and operating profit of KRW 8 billion, while HD Hyundai Robotics recorded sales of KRW 30.9 billion and an operating loss of KRW 2.8 billion.

An HD Hyundai official stated, "Despite increasing uncertainties, our core businesses including shipbuilding continue to maintain a profit trend, and we expect to achieve solid performance this year as well. We will lead the market through technological development and further strengthen profitability through strategic sales activities."

This content was produced with the assistance of AI translation services.