By product, growth was led by the power equipment segment. Power equipment revenue rose 21.6% from a year earlier, supported by expanded performance in North American power transformers. Revenue from rotating machinery increased 10.8% on strong demand for marine products.
Revenue from distribution equipment fell 24.2%, the company said, citing a base effect from large distribution-transformer deliveries a year earlier and delayed shipments of low-voltage circuit breakers due to geopolitical risks in the Middle East.
By market, North America revenue increased 26.6% from a year earlier, driving overall growth. In Europe, revenue fell from the previous quarter due to a high base but rose 17.0% from a year earlier.
First-quarter orders totaled $1.797 billion, up 34.6% from a year earlier, meeting 42.6% of its annual order target of $4.222 billion. The order backlog stood at $7.888 billion, up 17.2% from the end of last year.
An HD Hyundai Electric official said the company is maintaining a selective order strategy focused on profitability, while orders continue to rise on demand tied to the spread of AI data centers and replacement needs for aging power grids. The official said the company will complete expansions at its Ulsan plant and its North American production subsidiary without disruption to sustain solid growth.
Separately, the company said it will pay a quarterly cash dividend of 1,300 won per common share. The total dividend is 46.8 billion won. The record date is May 13 and the payment is scheduled for May 27.
* This article has been translated by AI.
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