HD Korea Shipbuilding & Offshore Engineering, Q2 Operating Profit 953.6 Billion..153.3%↑

[Financial News] HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company of HD Hyundai's shipbuilding division, announced on the 31st that its consolidated Q2 sales were 7.4284 trillion won and operating profit was 953.6 billion won. This represents an increase of 12.3% and 153.3% respectively compared to the same period last year. The company showed balanced growth across all business divisions due to increased working days, improved productivity, increased sales proportion of high-priced ships, and increased sales in the engine and machinery division.
The shipbuilding division recorded sales of 6.2549 trillion won due to increased construction volume and the reflection of price increases in ship sales. This is a 9.3% growth compared to the same period last year. Operating profit was 805.6 billion won, a 104.5% increase over the same period.
The engine and machinery division achieved sales of 774 billion won, a 29.6% increase compared to the same period last year, due to increased demand for dual-fuel engines following the strengthening of global environmental regulations and increased delivery volume. Operating profit increased by 120.7% over the same period to 201.1 billion won.
The offshore plant division achieved sales of 247.9 billion won and operating profit of 37.5 billion won, reflecting increased recognition of major project sales and improved profitability, a 56.9% increase compared to the same period last year.
By affiliate, HD Hyundai Heavy Industries led the performance growth with sales of 4.1471 trillion won and operating profit of 471.5 billion won. HD Hyundai Samho and HD Hyundai Mipo recorded sales of 2.1187 trillion won and 1.2345 trillion won, and operating profits of 371.7 billion won and 89.4 billion won, respectively, supporting the performance.
HD Hyundai Marine Engine recorded sales of 99.3 billion won and operating profit of 17.4 billion won, a 16.7% and 91.2% increase respectively compared to the same period last year, due to increased sales proportion of high-value-added engines, price increases, and improved production efficiency.
HD Hyundai Energy Solutions recorded sales of 133.7 billion won and operating profit of 15.1 billion won, successfully turning to profit compared to the previous quarter. The expansion of solar module sales in domestic and overseas markets and the strong sales of new high-efficiency modules led to improved profitability.


ggg@fnnews.com Kang Gugi Reporter