HD Hyundai Marine Engine (A071970) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was ₩291.4 billion, up 19.3% year-over-year, driven by strong demand for marine engines and crankshafts.

• Operating income rose to ₩48.0 billion, a 45% increase from the prior year, with net income at ₩53.0 billion.

• The company completed a major ownership change, joining the HD Hyundai Group after a third-party allocation capital increase in July 2024.

Financial highlights

• Gross margin improved to 23.5% from 20.3% year-over-year.

• Cash and cash equivalents increased to ₩92.9 billion from ₩59.8 billion at the end of 2024.

• Total assets reached ₩665.0 billion, with equity at ₩375.7 billion and no outstanding borrowings.

• R&D expenses were ₩13.5 billion, representing 4.6% of sales.

Outlook and guidance

• The company expects continued growth in eco-friendly engine demand, supported by global environmental regulations and increased new ship orders.

• Ongoing investments in production capacity and technology for dual-fuel and LNG/LPG engines are planned through 2027.