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HD Hyundai Infracore office view. (Photo = HD Hyundai Infracore) |
[Alpha Biz= Reporter Kim Jisun] HD Hyundai Infracore announced on the 19th that it recorded sales of 1.1573 trillion won and operating profit of 92.8 billion won in the first quarter of this year.
Sales fell 10.1 percent on-year due to tightening effects in the global construction machinery market. Operating profit was solid in the engine business, but fell 39.2% during the same period due to a drop in construction machinery sales.
By business unit, sales fell 13 percent on-year to KRW 848.1 billion last year due to the base effect of the construction machinery division and sluggish advanced and emerging markets. Operating profit also fell 55 percent to 45.8 billion won due to falling sales despite rising selling prices and stabilizing raw material prices.
Despite the global market tightening trend, major countries in the market have been seen to rebound positively. In advanced markets in North America and Europe, retail (Retail) sales grew on the back of the launch of new products, cross-selling of affiliates' products and promotions by strategic dealers, raising their market share. In the case of the Korean and Chinese markets, it is expected to rebound past the low point and show a gradual recovery.
The engine business sector showed even growth for each product, including industrial, defense and material parts. Sales rose 1 percent on-year to 309.3 billion won and operating profit fell 5 percent to 47 billion won, maintaining a stable double-digit operating profit ratio of 15.2 percent.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
