[Click eStock] "HD Hyundai Electric, Q3 Earnings Meet Expectations"

On the 28th, SK Securities analyzed that HD Hyundai Electric's third-quarter earnings met market expectations.

HD Hyundai Electric recorded sales of 789 billion KRW and an operating profit of 164 billion KRW in the third quarter of this year. These figures represent increases of 13.6% and 91.8%, respectively, compared to the same period last year.

Nam Min-sik, a researcher at SK Securities, stated, "Both sales and operating profit are in line with market expectations," adding, "Due to a seasonal decrease in operating days and the impact of a lower exchange rate, the third-quarter operating profit margin decreased by 2.1 percentage points (P) from the previous quarter to 20.8%."

He continued, "The key point for next year's performance is capacity expansion," and analyzed, "Partial expansion of the Ulsan plant will be completed this year." He emphasized, "Sales are expected to increase by approximately 220 billion KRW due to the expansion," and "an increase of 132 billion KRW in 2025 and 88 billion KRW in 2026 is anticipated."

Researcher Nam explained, "The completion of the medium and low voltage circuit breaker plant in Cheongju, Chungbuk, scheduled for October next year, is progressing as planned," and added, "A new medium and low voltage circuit breaker plant is being constructed with the goal of diversifying the product portfolio from transmission to distribution."