Expansion of High-Value-Added Volume in Shipbuilding and Engine Sectors
HD Hyundai's shipbuilding division holding company, HD Hyundai Korea Shipbuilding & Offshore Engineering, recorded a profit for six consecutive quarters. The expansion of high value-added ship proportions and productivity improvements led to strong sales and operating profits for its shipbuilding subsidiaries.
HD Hyundai Korea Shipbuilding & Offshore Engineering announced on the 31st that it posted consolidated third-quarter sales of KRW 6.2458 trillion and operating profit of KRW 398.4 billion. These figures represent increases of 24.6% and 477.4%, respectively, compared to the same period last year.
In particular, HD Hyundai Heavy Industries led the performance improvement with sales of KRW 3.6092 trillion and operating profit of KRW 206.1 billion, significantly up from the same period last year. Sales rose 26.5% year-on-year, and operating profit surged 1,497.7%.
HD Hyundai Samho and HD Hyundai Mipo achieved sales of KRW 1.6435 trillion and KRW 1.0776 trillion, and operating profits of KRW 177.6 billion and KRW 35.2 billion, respectively.
Ship engine affiliate HD Hyundai Marine Engine posted sales of KRW 52.7 billion and operating profit of KRW 5.4 billion, while solar energy affiliate HD Hyundai Energy Solutions recorded sales of KRW 100.6 billion and operating profit of KRW 3.4 billion.
The shipbuilding division’s sales increased 28.4% year-on-year to KRW 5.3226 trillion, and operating profit rose 406.4% to KRW 378.2 billion.
The engine machinery division posted sales of KRW 865 billion, up 44.3% year-on-year, reflecting increased volume and the consolidation of HD Hyundai Marine Engine. Operating profit grew 33.2% to KRW 102.4 billion due to the expanded proportion of eco-friendly high value-added engines.
The offshore plant division also recorded sales of KRW 183.5 billion and operating profit of KRW 2.2 billion, driven by increased volume.
An HD Hyundai Korea Shipbuilding & Offshore Engineering official stated, "Strong performance continues due to increased high value-added ship volume and improved engine profitability. Based on a stable order backlog, we will continue to lead the market through advancing eco-friendly technologies and building smart shipyards."
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