Operating profit jumped to 1.05 trillion won in the July–September period on revenue of 7.6 trillion won, up 21 percent on year. Net income surged nearly fourfold to 876.7 billion won, the company said in a regulatory filing.
HD Hyundai Heavy Industries' stock rose 1.16 percent to close at 479,500 won.
The flagship shipbuilder of HD Hyundai credited the robust results to a global shipbuilding boom and an increase in high-value vessel deliveries, which more than offset seasonal production slowdowns. Higher ship prices and productivity gains in the commercial vessel business also helped lift profitability, executives said during a conference call Monday.
By segment, the shipbuilding division posted an operating profit of 865.8 billion won, up 129 percent from a year earlier, on revenue of 6.20 trillion won, a 16.5 percent increase. The engine and machinery business saw revenue rise 31 percent to 823.6 billion won amid growing demand for dual-fuel engines under tighter global emissions rules, with operating profit soaring 138 percent to 243.2 billion won.
The offshore plant division recorded revenue of 280.4 billion won, buoyed by major project deliveries, but swung to a loss due to one-off expenses.
HD Korea Shipbuilding serves as the intermediate holding company overseeing HD Hyundai Heavy Industries, HD Hyundai Mipo Dockyard, and HD Hyundai Samho Heavy Industries—together forming the country’s single largest shipbuilding group.
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