HD Hyundai achieved strong results in the third quarter of this year, driven by growth in its key business sectors, including shipbuilding, construction equipment, and energy.
On October 28, HD Hyundai announced that its consolidated revenue for the third quarter reached 22.08 trillion won, with an operating profit of 2.92 trillion won. Compared to the same period last year, revenue increased by 21.2%, while operating profit surged by 71.5%, reflecting robust profitability across its main business areas.
In the shipbuilding and marine sector, HD Korea Shipbuilding & Offshore Engineering reported consolidated revenue of 8.29 trillion won and an operating profit of 1.45 trillion won, benefiting from improved productivity and rising ship prices, as well as strong performance in its engine machinery and offshore plant businesses.
HD Hyundai Marine Solutions recorded revenue of 650.1 billion won and an operating profit of 95.7 billion won, continuing growth in its core aftermarket (AM) segment. Despite one-time costs related to mergers and acquisitions, revenue increased by 26.7% and operating profit rose by 2.2% compared to the previous year. The company plans to enhance its competitiveness in the AM sector through the acquisition of Golten and expand its presence in the global market.
In the construction equipment sector, HD Hyundai Site Solutions saw revenue and operating profit rise by 6% and 39.8%, respectively, reaching 2.18 trillion won and 200.2 billion won, driven by a recovery in global demand and accelerated growth in engines for industrial and power generation applications. The company aims to strengthen its global competitiveness and product lineup while expanding its production capacity for power generation engines with the completion of a new engine plant in Gunsan.
In the energy sector, HD Hyundai Oilbank reported revenue of 10.04 trillion won and an operating profit of 900.9 billion won amid geopolitical uncertainties in the Middle East. While the refining and lubricants business maintained solid profitability, the petrochemical segment faced losses due to ongoing global oversupply and reduced product spreads. HD Hyundai Oilbank plans to respond flexibly to changes in crude oil supply and market conditions while focusing on stable plant operations.
HD Hyundai Electric achieved revenue of 1.18 trillion won and an operating profit of 284.5 billion won, supported by growth across all business divisions. Revenue increased by 18.5% and operating profit rose by 15.1% compared to the same period last year. The company aims to strengthen its integrated supply capabilities for power and distribution equipment and expand its presence in the global power infrastructure market.
An HD Hyundai official stated, "We maintained solid profitability in our key business sectors, including shipbuilding, construction equipment, and energy. We will continue to pursue stable growth through ongoing improvements in productivity and business competitiveness."
* This article has been translated by AI.
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