HD Hyundai Heavy Industries (329180) Q2 2025 earnings summary

Executive summary

• Sales rose 8.5% quarter-over-quarter and 6.8% year-over-year, driven by more working days and higher offshore and engine revenue.

• Operating profit increased 8.7% quarter-over-quarter and 141.1% year-over-year, reflecting sales growth and improved profitability in offshore and engine segments.

• Net income attributable to controlling interest was 210.9 bn KRW, down 25.8% quarter-over-quarter but up 36.9% year-over-year.

Financial highlights

• 2Q25 sales reached 4,147.1 bn KRW; operating profit was 471.5 bn KRW; OPM stood at 11.4%.

• Non-operating profit was impacted by a 308.1 bn KRW foreign exchange loss, 1,372.8 bn KRW derivative gains, and -1,297.7 bn KRW firm contract valuation losses.

• Net income before taxes was 280.2 bn KRW, with income taxes of 69.3 bn KRW.

Outlook and guidance

• Management notes that predictive information is subject to significant uncertainties due to market and business environment changes.