HD Hyundai said on the 3rd that it posted revenue of 18.2243 trillion won and operating profit of 1.7024 trillion won in the third quarter this year. Revenue rose 9.8% and operating profit jumped 294.5% from a year earlier.

In the shipbuilding and offshore institutional sector, HD Korea Shipbuilding & Offshore Engineering logged 7.5815 trillion won in revenue and 1.0538 trillion won in operating profit, up 21.4% and 164.5%, respectively, thanks to a higher share of sales from high-priced vessels and improved productivity.

HD Hyndai Marine Solution achieved revenue of 513.2 billion won, up 11.3% from a year earlier, and operating profit of 93.6 billion won, up 12.2%, on the back of strong performance in its core AM (after-market) business and digital solutions business.

In the construction equipment institutional sector, HD Hyundai XiteSolution improved profitability on recovering global construction equipment demand, led by advanced markets in North America and Europe, and efforts to tap emerging mining markets. Revenue and operating profit came to 2.0526 trillion won and 143.2 billion won, up 15.8% and 96.7% from a year earlier, respectively.

HD Hyundai Oilbank, an energy institutional sector affiliate, swung to a profit with revenue of 7.3285 trillion won and operating profit of 191.2 billion won as refining margins improved, lifting refining business results significantly.

HD Hyundai Electric posted revenue of 995.4 billion won and operating profit of 247.1 billion won, helped by increased transformer sales in major overseas markets such as North America and Europe and higher domestic sales of high-voltage circuit breakers.

A HD Hyundai official said, “Amid strong results in the shipbuilding and power equipment institutional sectors, the refining and construction equipment institutional sectors succeeded in a turnaround, contributing to improved third-quarter results.”
Source: The Chosun Daily