HD Hyundai Marine Solutions Achieves Record Half-Year Performance

[Financial News] HD Hyundai's comprehensive solutions company in the marine industry, HD Hyundai Marine Solutions, announced on the 24th that it recorded sales of 467.7 billion KRW, an operating profit of 83 billion KRW, and an operating profit margin of 17.7% in the second quarter. Compared to the same period last year, sales increased by 6.8% and operating profit by 16.9%, achieving the highest half-year performance.
The performance growth of HD Hyundai Marine Solutions was driven by its core business, the AM (After Market) division. The 'long-term maintenance contract' for eco-friendly dual-fuel engines increased significantly, resulting in an 11.6% increase in AM division sales compared to the same period last year.
The digital solutions business also continued its solid growth trend. Amid the ongoing boom in the new shipbuilding market and strengthened eco-friendly regulations, the growth of digital new businesses such as the 'shaft power generation system' has been accelerated, with sales increasing by 12.8% compared to the same period last year.
The eco-friendly retrofit business saw a 5.2% decrease in sales compared to the same period last year as shipping companies postponed investment decisions amid a transitional period ahead of the implementation of some environmental regulations. However, the sales from the 'engine part-load optimization' project ordered in the first half of this year are expected to be reflected sequentially, anticipating future performance improvement.
A representative from HD Hyundai Marine Solutions stated, "Despite the growing market uncertainty due to geopolitical risks, we are expanding our customer network to the Middle East and Asia based on differentiated competitiveness," and added, "We plan to solidify our leading position in high-value-added business areas such as eco-friendly engines and smart solutions in line with the strengthening eco-friendly regulations." 


ggg@fnnews.com Kang Gugu Reporter