Hyosung Heavy Industries (298040) Q3 2025 earnings summary

Executive summary

• Achieved record quarterly sales and operating profit in 3Q 2025, driven by strong performance in Power Systems and global extra-high voltage orders.

• Net profit rose to KRW 151.8 bn in 3Q 2025, up from KRW 87.3 bn in 2Q 2025 and KRW 72.4 bn in 3Q 2024.

• Order backlog reached KRW 11.1 tn for Heavy Industries and KRW 8.4 tn for Construction, reflecting robust demand.

Financial highlights

• Sales revenue increased to KRW 1,624.1 bn in 3Q 2025, up 42% year-over-year and 6% sequentially.

• Operating profit margin improved to 13.5% in 3Q 2025 from 10.8% in 2Q 2025 and 9.7% in 3Q 2024.

• EBITDA margin rose to 14.9% in 3Q 2025, compared to 12.1% in 2Q 2025.

• Net profit margin reached 9.3% in 3Q 2025, up from 5.7% in 2Q 2025.

Outlook and guidance

• Ongoing investment in global production capacity and power grid modernization solutions.

• Focus on high-quality project acquisition and disciplined bidding in Construction.

• Continued expansion in emerging businesses such as hydrogen and data centers.