HD Hyundai posts 262% surge in Q2 operating profit on broad-based gains

HD Hyundai posted second-quarter operating profit of 4.12 trillion won ($2.86 billion), a 262.2 percent increase from the same period last year, the company announced Friday. Sales for the quarter rose 30.2 percent to 22.41 trillion won.

For the first half of the year, the company recorded cumulative sales of 42.01 trillion won and operating profit of 6.96 trillion won, driven by solid earnings across its major business lines — shipbuilding, construction equipment, refining and power equipment.

In shipbuilding and offshore, HD Korea Shipbuilding posted sales of 8.93 trillion won, up 20.2 percent year on year, while operating profit climbed 72.5 percent to 1.65 trillion won. The gains reflected the recognition of high-margin vessel contracts in its results.

HD Hyundai Marine Solution recorded sales of 580.4 billion won, up 24.1 percent, with operating profit rising 17.6 percent to 97.6 billion won. Growth was broad-based across its aftermarket parts and service business, eco-friendly vessel retrofitting, and digital solutions.

HD Hyundai Site Solution posted sales of 2.52 trillion won and operating profit of 272 billion won, up 17.9 percent and 79.6 percent, respectively. The strong results came from an improving global market environment, higher sales of next-generation excavator models, and expanded revenue from industrial and defense engines.

HD Hyundai Oilbank recorded sales of 9.48 trillion won and operating profit of 1.82 trillion won, with improved profitability in its lubricant base oil and petrochemical businesses contributing to the results.

HD Hyundai Electric's sales rose 26 percent year on year to 1.14 trillion won, with operating profit up 37.3 percent to 287 billion won. Surging demand for the company's power equipment, driven by rapid expansion of AI infrastructure, powered the gains.

"In the second quarter, we achieved earnings improvements across all business areas — shipbuilding, construction equipment, refining and power equipment — further solidifying our business structure," an HD Hyundai official said. "We will focus on securing profitability through selectively expanding orders for high-value-added vessels, identifying new markets, and improving our product mix."