[Click eStock] "HD Hyundai Marine Solution, Core Business Segment Profit Growth"

On April 25, SK Securities projected that HD Hyundai Marine Solution's profits would grow rapidly. The target stock price was raised from 192,000 won to 200,000 won.

Han Seunghan, a researcher at SK Securities, explained, "The 'AM ASP Index,' which quantifies revenue per AM service vessel, has nearly doubled from 100 in 2021 to 197 in 2024."

He added, "The company continues to maintain a steady upward trend in average selling price (ASP) due to factors such as an increase in the service scope per vessel, a higher proportion of DF engines, and price hikes." He further emphasized, "From 2028, the first regular inspections will begin for container ships equipped with DF engines that were ordered in large quantities during the global bottleneck period of 2021 to 2022. This will enable full-fledged topline and profit growth in the AM solution segment."

He analyzed, "To strengthen AM business capabilities, the company will begin securing logistics production capacity within this year by establishing a new logistics hub in Singapore." He continued, "Including the existing Busan logistics center, the company plans to enhance the efficiency of AM services." He also explained, "In the eco-friendly solution segment, the company demonstrated its competitiveness in the second-generation retrofit market by winning orders for one floating storage unit (FSU) and 67 engine power load optimization (EPLO) vessels this year."