Hyundai Rotem (064350) Q4 2024 earnings summary

Executive summary

• Revenue increased 22% year-over-year to 43,766 (100 KRW mil) in 2024, with operating profit up 117% to 4,566 (100 KRW mil).

• Backlog rose 7% to 187,578 (100 KRW mil), reflecting strong order intake despite a 38% drop in new orders.

• Net income more than doubled to 4,053 (100 KRW mil) compared to the previous year.

Financial highlights

• Gross profit grew from 4,644 to 8,290 (100 KRW mil) year-over-year.

• EBIT surged 182% to 5,096 (100 KRW mil) in 2024.

• Debt-to-equity ratio improved to 163% from 218% in 2023.

• Cash and equivalents increased to 4,723 (100 KRW mil) from 3,961 (100 KRW mil) year-over-year.

Outlook and guidance

• Forward-looking statements anticipate continued growth but caution that actual results may differ due to uncertainties.