HD Hyundai Electric announced on July 28 that it achieved sales of 1.14 trillion won and an operating profit of 287 billion won in the second quarter of this year. Sales increased by 26% compared to the same period last year, while operating profit rose by 37.3%. The operating profit margin was 25.1%, up 2.0 percentage points from the previous year and 0.2 percentage points from the previous quarter.
The power equipment business saw a steady demand for global power grid replacements and an increase in overseas sales of high-voltage circuit breakers, resulting in a 10.7% year-on-year sales increase. Sales in the distribution equipment sector reached 231.2 billion won, a 20.2% increase from the previous year. The growth in sales across all product lines in the distribution sector was driven by increased supply for domestic semiconductor projects.
HD Hyundai Electric explained, "The increase in operating profit was driven by improved profitability of power transformers in key overseas markets, including North America, as well as significant enhancements in profitability across all distribution equipment products, particularly those aimed at the domestic semiconductor sector."
In the second quarter, the company recorded orders worth $1.44 billion, a 44.6% increase compared to the same period last year, bringing the cumulative orders for the first half of the year to $3.237 billion. The order backlog reached $8.49 billion, a 29.6% increase from the previous year, securing a stable growth foundation.
A representative from HD Hyundai Electric stated, "In addition to the structural growth trend in the power equipment business, the significant improvement in profitability in the distribution equipment sector has led to solid performance. As power demand continues to expand, particularly in data centers, we expect to maintain stable growth in the second half of the year."
Meanwhile, on July 6, HD Hyundai Electric raised its order target for 2026 to $5.185 billion, reflecting the growing demand in the North American power infrastructure and data center markets.
* This article has been translated by AI.
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