Hyundai Rotem (064350) Q1 2026 earnings summary

Executive summary

• Achieved record-high Q1 performance with sales up 23.9% year-over-year and operating profits up 10.5% year-over-year.

• All three major credit rating agencies upgraded credit ratings from A* (Positive) to AA- (Stable).

Financial highlights

• Q1 sales reached 1,457.5 BN Won, up 23.9% YoY but down 10.3% sequentially.

• Operating profit was 224.2 BN Won, up 10.5% YoY, with an operating profit margin (OPM) of 15.4%.

• Net income for Q1 was 2,027 (100M KRW), up 29.0% YoY, with a net profit margin of 13.9%.

• Profit before tax margin improved to 18.9%, up 1.2 percentage points sequentially.

• Cash and cash equivalents increased significantly to 26,817 (100M KRW) from 9,084 in 2025.

Outlook and guidance

• Forward-looking statements indicate expectations for continued business and financial performance, but actual outcomes may differ due to uncertainties.