HD Hyundai Electric (267260) Q1 2025 earnings summary

Executive summary

• Achieved record high quarterly revenue in 1Q25, with significant YoY and QoQ growth across major segments and markets.

• Continued growth in new orders and order backlog, reflecting strong demand and order seasonality.

Financial highlights

• 1Q25 sales reached KRW 1,014.7 bn, up 24.4% QoQ and 26.7% YoY.

• Operating profit was KRW 218.2 bn, up 31.2% QoQ and 69.4% YoY; OP margin improved to 21.5%.

• Net profit before taxes was KRW 153.4 bn, up 23.8% QoQ and 64.2% YoY.

• Order intake was USD 1,438 mil, up 68.8% QoQ; order backlog reached USD 5,076 mil, up 11.1% QoQ.

Outlook and guidance

• U.S. energy policy expected to accelerate power grid expansion and support rising electricity demand.

• Middle East demand to rise with Saudi Vision 2030 and focus on renewable energy and grid expansion.

• Marine segment outlook positive due to regulatory changes and competitive advantage for eco-friendly shipbuilders.