HD Hyundai Reports 60 Trillion KRW in Sales Last Year..."Improvement in Shipbuilding and Refining Market Conditions"

[Asia Economy Reporter Oh Hyung-gil] HD Hyundai announced on the 7th that it recorded consolidated sales of KRW 60.8497 trillion and operating profit of KRW 3.387 trillion last year.

It explained that solid performance was achieved as profits in the refining and construction machinery sectors expanded due to rising oil prices and increased global infrastructure investment. The shipbuilding sector also contributed to improved performance by maintaining a profit trend.

In particular, sales increased by 114.6% and operating profit by 226.7% compared to the previous year, reflecting the addition of Korea Shipbuilding & Offshore Engineering, which was consolidated in March last year, and the inclusion of Hyundai Doosan Infracore's performance for last year.

Korea Shipbuilding & Offshore Engineering recorded sales of KRW 17.302 trillion, up 11.7% from the previous year. Especially, operating profit in the fourth quarter was KRW 117.1 billion, continuing a profit trend for two consecutive quarters. With an increased sales ratio of high value-added ship types, performance is expected to improve significantly this year.

Hyundai Heavy Industries posted sales of KRW 9.0455 trillion, up 8.8% from the previous year, and Hyundai Mipo Dockyard achieved sales of KRW 3.7169 trillion, an increase of 28.7%. Hyundai Samho Heavy Industries recorded sales of KRW 4.6464 trillion, up 9.6% year-on-year, and succeeded in turning to operating profit with KRW 17.7 billion.

Hyundai Oilbank, the refining division, recorded sales of KRW 34.955 trillion and operating profit of KRW 2.7898 trillion last year. Rising oil prices and improved refining margins led HD Hyundai’s strong performance.

Hyundai Genuine in the construction machinery sector posted sales of KRW 8.5036 trillion, up 62.5% year-on-year, and operating profit of KRW 464.4 billion. Hyundai Electric achieved its highest-ever sales of KRW 2.1045 trillion and operating profit of KRW 133 billion since its launch.

Hyundai Global Service recorded sales of KRW 1.3338 trillion, up 22.6% year-on-year, and operating profit of KRW 141.9 billion, growing 25.8% compared to the previous year.

Hyundai Energy Solutions achieved record-high performance with sales of KRW 984.8 billion and operating profit of KRW 90.2 billion due to strong solar power business. Hyundai Robotics also succeeded in turning to operating profit with sales of KRW 180.7 billion and operating profit of KRW 10.6 billion.

An HD Hyundai official stated, "As the market conditions of core businesses such as shipbuilding, refining, and construction machinery continue to improve, strong performance is expected this year as well. We will maintain stable results through sales strategies that enhance profitability and the development of eco-friendly technologies leading the market."