HD Hyundai Marine Solution (443060) Q3 2025 earnings summary

Executive summary

• Consolidated revenue for Q3 2025 reached KRW 513.2 billion, up 9.7% QoQ and 11.3% YoY, with operating profit at KRW 93.6 billion, up 12.8% QoQ and 12.2% YoY.

• Record-high quarterly revenue and profit, with margin improvement to 18.2%.

• Net profit for the quarter was KRW 79.8 billion, up 36.4% YoY and 50.6% QoQ.

• Appointment of new CEO, Sung Joon Kim, effective October 17, 2025.

• Provides integrated after-service, eco-friendly retrofit, and digital solutions for ships, with a global presence and unique lifecycle service coverage.

Financial highlights

• Revenue for the nine months ended September 2025 was KRW 1,466.5 billion, down 16% YoY, with net income of KRW 196.1 billion, down 14%.

• Non-operating income was KRW 11.3 billion, including KRW 3.7 billion interest income and KRW 8.2 billion FX gains.

• Income tax expense was KRW 25.1 billion.

• Basic EPS for the nine months was KRW 4,374.

• Cash and cash equivalents at period end were KRW 361.3 billion.

Outlook and guidance

• Positive momentum in AM Solution expected to continue into Q4.

• Digital Solution annual growth projected to exceed 20% for 2025.

• Focus on expanding eco-friendly retrofit and digital solutions in response to tightening environmental regulations and digital transformation in shipping.

• Continued investment in R&D for smart ship and decarbonization technologies.

• New 2025 targets and progress review to be announced by December.