Hyosung Heavy Industries (298040) Q4 2024 earnings summary

Executive summary

• Achieved record quarterly performance in 4Q 2024 with significant year-over-year growth in revenue and operating profit, driven by global market expansion and strong order intake in both Heavy Industries and Construction divisions.

Financial highlights

• 4Q 2024 sales revenue rose to ₩1,571.5bn, up 37.2% sequentially and 21.6% year-over-year.

• Operating profit reached ₩132.2bn, up 18.7% quarter-over-quarter and 108.5% year-over-year.

• Net profit was ₩96.1bn, a 32.7% increase from the previous quarter and 232.5% higher year-over-year.

• EBITDA for 4Q 2024 was ₩153.4bn, up 18.4% quarter-over-quarter and 80.3% year-over-year.

• Gross profit margin improved to 17.9%, up 4.7 percentage points year-over-year.

Outlook and guidance

• Continued focus on global market expansion, especially in the US, Europe, and Middle East, with strong order backlog supporting future growth.

• Ongoing risk management and selective bidding in Construction to maintain profitability amid rising costs.