HD Hyundai Construction Equipment Reports Q3 Operating Profit of 43 Billion KRW, Down 20% Year-on-Year

Construction Equipment Demand Slump

HD Hyundai Construction Equipment announced on the 23rd that its operating profit for the third quarter amounted to 43 billion KRW, down 20% compared to the same period last year.

During the same period, sales reached 816.8 billion KRW, a 12% decrease from the previous year. Although sales growth was recorded due to increased demand and locally tailored sales strategies in India, Brazil, and other markets, the impact of sluggish equipment demand caused by economic uncertainty was significant.

In advanced markets such as North America and Europe, despite central bank interest rate cuts, the economic slowdown trend continued, and uncertainty ahead of the U.S. presidential election led to reduced demand for new equipment, resulting in a 12% decrease in sales compared to the same period last year.

The Indian market continues to see demand for construction equipment driven by government infrastructure investment policies, and sales in the Brazilian market increased due to the expansion of the small equipment lineup, with combined sales in these two markets rising 11% compared to the same period last year. In particular, the company is further enhancing profitability by increasing the sales proportion of locally produced equipment in these two regions.

In other emerging markets, prolonged geopolitical risks and economic slowdown have delayed customers' purchasing power recovery, leading to a decline in sales.

HD Hyundai Construction Equipment plans to continue efforts to expand sales in emerging markets by increasing sales of locally tailored products and conducting sales activities focused on key customers.

An HD Hyundai Construction Equipment official stated, "Despite uncertain market conditions, we are expanding our market share through efforts such as supplying locally tailored products and promotions," adding, "We will continue to strive for better performance improvements in the event of a market rebound."

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