HD Hyundai Construction Equipment, Q1 Operating Profit 53.6 Billion KRW... 33% Decrease YoY

Impact of Market Demand Contraction and Last Year's Base Effect

HD Hyundai Construction Equipment, a subsidiary of HD Hyundai's construction machinery division, announced on the 24th that its first-quarter sales decreased by 3.8% year-on-year to 979.1 billion KRW. Operating profit fell by 33% to 53.6 billion KRW.

HD Hyundai Construction Equipment explained that the decline in first-quarter performance was due to the overall contraction in global construction equipment demand and the base effect from last year. A company representative stated, "Through region-specific sales strategies and expanding the product lineup, we will continue rapid growth during the upcoming demand stabilization period."