 |
(Photo = HD Hyundai Infracore) |
[Alpha Biz= Reporter Kim Jisun] HD Hyundai Infracore reported a steep drop in its third-quarter performance, with sales of 909.8 billion KRW and an operating profit of 20.7 billion KRW, reflecting a year-on-year decrease of 15.5% in sales and a 76.9% plunge in operating profit. These results fell short of FnGuide’s market estimates, which anticipated 1.052 trillion KRW in sales and 76 billion KRW in operating profit.
In the construction machinery segment, revenue dropped 17% year-on-year to 654.8 billion KRW, posting an operating loss of 12 billion KRW. HD Hyundai Infracore attributed this decline in profitability to promotions aimed at reducing inventory.
In the engine division, revenue and operating profit declined by 11% and 17%, respectively, compared to the previous year, with sales reaching 255 billion KRW and operating profit at 32.7 billion KRW. Nevertheless, steady demand for generators, marine, and defense engines helped maintain a double-digit operating margin in this segment.
The company has also strengthened its financial position by consistently reducing debt, with its debt-to-equity and net debt ratios improving to 130% and 51%, respectively, from 249% and 82% in 2021. Additionally, HD Hyundai Infracore completed a 56 billion KRW share buyback and cancellation in August as part of its shareholder value enhancement strategy.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
