HD Hyundai Construction Equipment announced on the 6th that it recorded annual sales of 3.4431 trillion won and an operating profit of 190.4 billion won in 2024.
According to the Financial Supervisory Service's electronic disclosure system, HD Hyundai Construction Equipment's sales decreased by 10.1% and operating profit fell by 26% compared to 2023. HD Hyundai Construction Equipment noted, "The reasons include intensified competition due to poor market conditions and increased expenses for promotional activities."
By region, sales in North America and Europe decreased by 12.5% and 16.4%, respectively, compared to the previous year. Emerging markets also shrank by 25.0% due to high exchange rates, high interest rates, and geopolitical risks. However, in India, sales rose by 13.8% compared to the previous year due to a government-led infrastructure investment trend. Brazil also saw a 24.9% growth compared to the previous year.
A representative from HD Hyundai Construction Equipment said, "We will maximize quality and production efficiency based on the Ulsan Sunjin plant, which is set to be completed in the first half of this year," adding, "We aim to strengthen our competitiveness and expand market share and sales by producing and supplying customized products specialized for mining, including ultra-large equipment."