HD Hyundai Marine Solution (443060) Q2 2025 earnings summary

Executive summary

• Achieved 17.7% operating margin in 2Q25, with profitability enhanced despite external headwinds.

• 1H25 core business revenue up 21.4% and operating profit up 36.3% year-over-year.

Financial highlights

• 2Q25 revenue of KRW 467.7bn, up 6.8% year-over-year but down 3.7% sequentially.

• Operating income stable at KRW 83.0bn, up 16.9% year-over-year.

• Net income at KRW 53.0bn, down 16.3% sequentially and 6.5% year-over-year.

• Non-operating P&L loss of KRW -14.7bn, mainly due to foreign currency losses.

Outlook and guidance

• Aftermarket and digital solutions expected to drive continued growth, with focus on expanding global customer base.

• Preparing for market expansion under IMO mid-term measures and enhancing vessel-specific sales strategies.