[Asia Economy Reporter Hwang Yoon-joo] Hyundai Heavy Industries Holdings announced on the 30th that its consolidated operating profit for the third quarter of this year was 101.1 billion KRW, a 53.9% decrease compared to the same period last year. During the same period, sales fell 29.8% to 4.5779 trillion KRW, and net profit dropped 47.6% to 34.6 billion KRW. Operating profit decreased by 3.1% compared to the previous quarter, while sales increased by 14.3%.
All subsidiaries, including Hyundai Oilbank, showed improved profitability and recorded profits. In particular, Hyundai Oilbank, a refining subsidiary, improved its performance through refining margins and flexible production and sales of products in response to market fluctuations.
Hyundai Electric saw an increase in operating profit as low-priced orders were exhausted and more profitable orders were reflected, while Hyundai Construction Equipment maintained a profit trend as equipment demand and sales recovered in key markets such as China and India.
Hyundai Robotics experienced a decrease in sales due to reduced orders, but operating profit slightly increased thanks to efforts such as material cost reduction. Hyundai Global Service led a simultaneous rise in sales and operating profit, driven by strong performance in digital control and fuel business sectors.
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