[Asia Economy Reporter Jeong Hyunjin] Hyundai Rotem announced on the 27th that its sales in the third quarter of this year reached 710.4 billion KRW, a 2.5% increase compared to the same period last year. Operating profit decreased by 74.6% to 7.9 billion KRW, while net profit increased by 36.3% to 6.2 billion KRW.
Hyundai Rotem explained that in the Rail Solution division, sales growth continues due to increased productivity in domestic and overseas projects. The cumulative sales of the Rail Solution division for the third quarter this year amounted to 1.2083 trillion KRW, a 12% increase compared to the same period last year, while operating profit was 13.8 billion KRW, a 45% decrease compared to the same period last year.
In the Defense Solution division, cumulative sales for the third quarter this year were 641.5 billion KRW, and operating profit was 34.5 billion KRW, representing a 12% increase and a 10% decrease respectively compared to the same period last year. Hyundai Rotem stated that stable sales and profits continue due to increased productivity in mass production and maintenance projects in the Defense Solution division.
Regarding the Eco Plant division, Hyundai Rotem explained that profit and loss decreased due to the end of production in major projects. Cumulative sales for the third quarter were 224.7 billion KRW, a 27% decrease compared to the same period last year, and operating profit also decreased by 45% compared to the third quarter of last year, amounting to 1.2 billion KRW.
The cumulative new orders by division for the third quarter were 740.5 billion KRW for Rail Solution, 706.4 billion KRW for Defense Solution, and 265.1 billion KRW for Eco Plant, totaling 1.712 trillion KRW in new orders for the third quarter.
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