The Power of Defense Industry…Hyundai Rotem's Q1 Operating Profit Up 36% YoY

Sales of 684.4 billion KRW, Operating Profit of 31.9 billion KRW

Hyundai Rotem announced on the 27th that its consolidated sales for the first quarter of this year were tentatively estimated at 684.4 billion KRW, with an operating profit of 31.9 billion KRW. Compared to the previous year, sales increased by 1%, and operating profit rose by 35.5%.

Hyundai Rotem K2 tank.
[Photo by Hyundai Rotem]

Sales in the Rail Solutions (railroad) division amounted to 369.2 billion KRW, a 15% decrease compared to 433.1 billion KRW in the same period last year. On the other hand, sales in the Defense Solutions (defense industry) division increased by 42% to 260 billion KRW from 192.5 billion KRW in the previous year. Sales in the Eco Plant division were 55.2 billion KRW, down 11% from 61.8 billion KRW in the same period last year.

As of the end of the first quarter this year, the order backlog recorded 14.3139 trillion KRW, a 43% increase compared to the same period last year. Among these, the order backlog in the Defense Solutions division was 5.5017 trillion KRW, up 246% from the previous year. The order backlog in the Rail Solutions division was 827.99 billion KRW, a 4% increase compared to the same period last year. The order backlog in the Eco Plant division increased by 28% to 532.3 billion KRW compared to the previous year.

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