Hyundai Rotem (064350) Q3 2024 earnings summary

Executive summary

• Sales increased 13% year-over-year to 29,358 (100 KRW mil) in Q3 2024, with operating profit up 110% to 2,949 (100 KRW mil).

• EBIT rose 175% year-over-year to 3,191 (100 KRW mil), and backlog reached 189,933 (100 KRW mil), up 8,239 from last year.

• Net income for Q3 2024 was 2,602 (100 KRW mil), up from 1,106 in Q3 2023.

Financial highlights

• Revenue grew to 29,358 (100 KRW mil) in Q3 2024 from 25,982 in Q3 2023.

• Operating profit margin improved to 10.0% from 5.4% year-over-year.

• Gross profit increased to 5,211 (100 KRW mil) from 3,045 year-over-year.

• New orders declined 43% year-over-year to 41,318 (100 KRW mil).

Outlook and guidance

• Forward-looking statements indicate expectations for continued growth but highlight uncertainties that may cause actual results to differ.