Operating Profit Reaches 218.2 Billion Won, Up 69.4% Year-on-Year
"Accelerating Diversification in Global Markets Beyond North America"
HD Hyundai Electric announced on April 22 that its sales for the first quarter of this year reached 1.0147 trillion won. This marks the first time quarterly sales have exceeded 1 trillion won, representing a 26.7% increase compared to the same period last year.
During the same period, the company recorded an operating profit of 218.2 billion won, up 69.4% year-on-year.
Sales growth was driven by the expansion of global investment in power infrastructure, with sales of power equipment and rotating machinery rising by 46.1% and 17.1%, respectively, compared to the same period last year. HD Hyundai Electric explained that the operating margin reached 21.5%, attributing this to increased sales in the highly profitable North American market as well as the effectiveness of its selective order-taking strategy.
Orders for the first quarter amounted to 1.335 billion dollars, up 68.8% from the previous quarter. The total order backlog stood at 6.155 billion dollars, an increase of 11.1% compared to the previous quarter.
A representative from HD Hyundai Electric stated, "Although the uncertainty in the global trade environment continues due to the imposition of tariffs by the United States, demand for power equipment in North America is expected to maintain stable growth, driven by the replacement of aging facilities and the expansion of artificial intelligence (AI) infrastructure. We plan to accelerate diversification in global markets, including North America, Europe, and Asia, by leveraging our domestic and overseas production bases."
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