HD Hyundai Electric, HD Hyundai's power equipment and energy solutions subsidiary, announced in a regulatory filing today (July 28) that its preliminary operating profit for the second quarter of this year on a consolidated basis reached 287 billion won, up 37.3% from the same period last year.

Revenue rose 26% year-on-year to 1.1418 trillion won.

Net profit increased by 45.2% to 206.1 billion won.

The operating profit margin stood at 25.1%.

This represents a 2 percentage point increase compared to the same period last year and a 0.2 percentage point rise from the previous quarter.

The power equipment business recorded a 10.7% growth in revenue compared to the same period last year, driven by steady global demand for power grid replacements and expanded overseas sales of high-voltage circuit breakers.

Revenue from power distribution equipment amounted to 231.2 billion won, up 20.2% year-on-year.

Increased supplies to domestic semiconductor projects experiencing a supercycle led to revenue expansion across all product lines in the distribution sector.

Operating profit was driven by improved profitability of power transformers in major overseas markets including North America, alongside a sharp improvement in profitability across all power distribution equipment lines, centered on domestic semiconductor switchboards.

Order intake for the second quarter recorded 1.44 billion dollars (approx. 2.1 trillion won), an increase of 44.6% from the same period last year.

Cumulative order intake for the first half of the year reached 3.237 billion dollars.

Order backlog grew 29.6% year-on-year to 8.49 billion dollars, securing a stable foundation for growth.

In addition, HD Hyundai Electric announced through a separate filing today that it will issue a cash quarterly dividend of 1,300 won per common share.

The total dividend amount is approximately 468 billion won, with the record date set for the 12th of next month and the payment scheduled for the 27th of the same month.

An official from HD Hyundai Electric stated, "As the growing demand for electricity centered on data centers is leading to orders for power distribution and rotating machinery, we expect to maintain a stable growth trend in the second half of the year as well."

(Photo provided by HD Hyundai Electric, Yonhap News)