Hyosung Heavy Industries (298040) Q1 2025 earnings summary

Executive summary

• Achieved historical high 1Q results with strong revenue and profit growth, driven by global demand and improved overseas profitability.

• Order backlog and new orders reached record levels, especially in ultra-high voltage power equipment and turnkey projects.

Financial highlights

• Sales revenue rose to KRW1,076.1bn, up 9.3% year-over-year but down 31.5% sequentially.

• Operating profit reached KRW102.4bn, up 82.2% year-over-year, with a margin of 9.5%.

• Net profit was KRW103.6bn, up 295.4% year-over-year.

• EBITDA stood at KRW122.5bn, up 43.9% year-over-year, with an EBITDA margin of 11.4%.

Outlook and guidance

• Continued expansion in global markets, especially US, Europe, and Middle East, expected to drive further growth.

• Focus on risk management and selective bidding in construction to maintain profitability.