{"id":20673,"date":"2023-07-27T05:17:00","date_gmt":"2023-07-27T05:17:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4167274_CN67274_0"},"modified":"2023-07-27T05:17:00","modified_gmt":"2023-07-27T05:17:00","slug":"hd-hyundai-records-30-8953-trillion-won-revenue-and-1-006-trillion-won-operating-profit-in-h1","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=20673","title":{"rendered":"HD Hyundai Records 30.8953 trillion won Revenue and 1.006 trillion won Operating Profit in H1"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2163576\/4183769\/HD_Hyundai_logo_Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>Q2 revenue reached <span class=\"xn-money\">15.6213 trillion won<\/span> and operating profit <span class=\"xn-money\">472.6 billion won<\/span><\/li>\n<li>Shipbuilding, construction equipment and electric power device units achieving solid earnings<\/li>\n<li>HD Korea Shipbuilding &amp; Offshore Engineering&#8217;s revenue at <span class=\"xn-money\">5.4536 trillion won<\/span>, up 30.2%&nbsp;YoY<\/li>\n<li>H2 earnings expected to stay stable following acceleration of profit improvement in shipbuilding unit and improved oil refining market<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SEOUL, South Korea<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">July 27, 2023<\/span><\/span> \/PRNewswire\/ &#8212; HD Hyundai, the world&#8217;s largest shipbuilder and heavy industries conglomerate, released its 2023 Q2 financial results.<\/p>\n<p>HD Hyundai reported a revenue of <span class=\"xn-money\">15.6213 trillion won<\/span> and operating profit of <span class=\"xn-money\">472.6 billion won<\/span> for the April-June period. The shipbuilding unit successfully marked a turnaround and other major businesses, including construction equipment and electric power devices, continued its robust earning trajectory. The oil refining unit saw a decrease in both revenue and operating profit due to the weakening market. As for the entire first half of the year, HD Hyundai reached <span class=\"xn-money\">30.8953 trillion won<\/span> in revenue and <span class=\"xn-money\">1.006 trillion won<\/span> in operating profit.<\/p>\n<p>HD Korea Shipbuilding &amp; Offshore Engineering (HD KSOE), the intermediate holding company of HD Hyundai, posted a revenue of <span class=\"xn-money\">5.4536 trillion won<\/span>, up 30.2% YoY, with the increase in&nbsp; shipbuilding volume and marine engines supply. It saw its operating profit amounted to <span class=\"xn-money\">71.2 billion won<\/span>, returning to profit. Operating profit is projected to further go up as profitability improvement will be reflected in the latter half of this year, resulting from increase in vessel prices.<\/p>\n<p>HD Hyundai Oilbank, HD Hyundai&#8217;s oil refining unit, reaped <span class=\"xn-money\">6.9725 trillion won<\/span> in revenue and <span class=\"xn-money\">36.1 billion won<\/span> in operating profit. Product and raw material related inventory lost value due to the drop in global oil prices, and profitability lowered as complex refining margins went down due to continued tightening in reaction to global recession along with limited recovery in demand as a result of economic stagnancy indicators pointing towards <span class=\"xn-location\">China<\/span>. As global oil prices and complex refining margins have recently staged a rebound, the operating profit of the second half year is expected to gradually improve.<\/p>\n<p>HD Hyundai XiteSolution, HD Hyundai&#8217;s construction equipment unit, recorded <span class=\"xn-money\">2.4072 trillion won<\/span> in revenue and <span class=\"xn-money\">270.9 billion won<\/span> in operating profit. Revenue rose 13.7% YoY with an increase in demand following increased infrastructure investment in North American and European markets and expanded market shares in Indian and Southeast Asian markets. Its operating profit surged by 141.4% as a result of a rise in selling prices and improved global shipping.<\/p>\n<p>HD Hyundai Electric saw its revenue at <span class=\"xn-money\">642.5 billion won<\/span>, up 19% YoY, with a steady growth across entire product groups as the market picks up, which increased demand for global electric power devices. In addition, its operating profit grew 116.2% YoY to reach <span class=\"xn-money\">58.8 billion won<\/span> as a result of its strategy to selectively take transformers orders and improved cost-to-sales ratio of rotating machines and switchgears.<\/p>\n<p>HD Hyundai Global Service recorded <span class=\"xn-money\">364.4 billion won<\/span> in revenue and <span class=\"xn-money\">54.8 billion won<\/span> in operating profit driven by a sustained increase in highly-profitable ship parts and services and the eco-friendly ship retrofitting business. In particular, the sustainable ship rebuilding business is expected to show noticeable performance as there is growing demand for the reliquefaction reconstruction system of LNG carriers, for which HD Hyundai has recently won an order, and the LNG Floating Storage Regasification Unit (FSRU).<\/p>\n<p>HD Hyundai Energy Solution posted <span class=\"xn-money\">151.1 billion won<\/span> in revenue, <span class=\"xn-money\">7.9 billion won<\/span> in operating profit, and HD Hyundai Robotics <span class=\"xn-money\">49.3 billion won<\/span> in revenue and <span class=\"xn-money\">2.9 billion won<\/span> in operating profit, turning to profit.<\/p>\n<p>&#8220;HD Hyundai is expected to continue this stable profit momentum across the entire business units based on acceleration of profit improvement in shipbuilding, recovery of oil refining markets and solid performance of construction equipment and electric power businesses,&#8221; said an HD Hyundai representative. &#8220;We will lead the market by consistently developing sustainable and digital technologies and maintain steady performances by utilizing sales strategies that center on profitability.&#8221;<\/p>\n<p><b>\u25a0<\/b><b>&nbsp;HD Hyundai 2023 Q2 Financial Results<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen3\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023 Q2<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023 Q1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2022 Q2<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Performance<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>QoQ<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>15.6213 trillion won<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2.3&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">15.2740 trillion won<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">15.7540 trillion won<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating profit<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>472.6 billion won<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>-11.4&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">533.4 billion won<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.2359 trillion won<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net profit<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>186.3 billion won<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>53.6&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">121.3 billion won<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">957.4 billion won<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>\u25a0<\/b><b>&nbsp;HD Korea Shipbuilding &amp; Offshore Engineering 2023 Q2 Financial Results<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\"><\/td>\n<td class=\"prngen3\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023 Q2<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023 Q1<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2022 Q2<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Performance<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>QoQ<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>5.4536 trillion won<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>12.6&nbsp;%<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.8424 trillion won<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.1886 trillion won<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating profit<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>71.2 billion won<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Turnaround<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">-19 billion won<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">-265.1 billion won<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net profit<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>39.4 billion won<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Turnaround<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">-151.8 billion won<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\"><span class=\"prnews_span\">-105.6 billion won<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>About HD Hyundai&nbsp;<\/b><\/p>\n<p>HD Hyundai is the world&#8217;s largest shipbuilding and heavy industries conglomerate. HD Hyundai started as a shipbuilder in 1972 in a small fishing village in Ulsan, the southeast of <span class=\"xn-location\">South Korea<\/span>. On the foundation of solid leadership in the shipbuilding industry, it is now progressing to become the most innovative solution provider in the heavy industry and energy sectors, ranging from shipbuilding, offshore engineering and construction equipment to the refinery, petrochemical, and smart energy management businesses. Marking its 50th anniversary, the group was renamed to HD Hyundai to change the paradigm of traditional shipbuilding industry and emphasize its presence in other industries.<\/p>\n<p><b>Media Contact&nbsp;<\/b><br \/><span class=\"xn-person\">Haeri Na<\/span> (<a href=\"mailto:hyeri.na@ksoe.co.kr\" rel=\"nofollow\">hyeri.na@ksoe.co.kr<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q2 revenue reached 15.6213 trillion won and operating profit 472.6 billion won Shipbuilding, construction equipment and electric power device units achieving solid earnings HD Korea Shipbuilding &amp; Offshore Engineering&#8217;s revenue at 5.4536 trillion won, up 30.2%&nbsp;YoY H2 earnings expected to stay stable following acceleration of profit improvement in shipbuilding unit and improved oil refining market [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-20673","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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