HD Hyundai's power equipment and energy solution subsidiary HD Hyundai Electric reported a revenue of 906.2 billion won and an operating profit of 209.1 billion won for the second quarter of this year, according to a notice on the 22nd. These figures represent declines of 1.2% and 0.5%, respectively, compared to the same period last year. The net profit for the current period decreased by 12% to 141.9 billion won.
Sales of distribution equipment fell by 24.4% compared to the same period last year. HD Hyundai Electric noted, "This is attributed to a base effect from temporary sales of energy storage systems (ESS) amounting to 70 billion won last year."
The operating margin for the second quarter rose slightly to 23.1%, compared to 22.9% in the same period last year. HD Hyundai Electric explained that the operating margin has continued to rise compared to 20.1% last year and 21.5% in the first quarter. Sales of power equipment increased by 28.2% compared to the same period last year, amid expanded investments in power infrastructure.
The order intake for the second quarter was $996 million (approximately 1.3825 trillion won), an increase of 13.2% compared to the same period last year. For the first half of the year, the cumulative amount reached $2.331 billion (approximately 3.2356 trillion won). The order backlog increased by 24.7% compared to the same period last year, amounting to $6.55 billion (approximately 9.092 trillion won).
A representative from HD Hyundai Electric stated, "We will maintain strong performance in the second half of the year through strategic orders focused on high-value products and efficient business operations."