HD Hyundai's electrical equipment and energy solutions subsidiary HD Hyundai Electric announced on the 22nd that it recorded sales of 1.14 trillion won and an operating profit of 218.2 billion won in the first quarter of this year. This marks a 26.7% and 69.4% increase, respectively, compared to the same period last year. This is the first time the quarterly sales have exceeded 1 trillion won.
Net profit for the first quarter was 153.4 billion won, a 64.2% increase compared to the same period last year. First quarter orders recorded $1.335 billion, a 68.8% increase compared to the fourth quarter of last year. The total order backlog is $6.1555 billion, an 11.1% increase compared to the previous quarter.
An official from HD Hyundai Electric noted, "Although uncertainties in the global trade environment persist due to the tariffs imposed by the United States, demand for electrical equipment in North America is expected to continue its stable growth trend driven by the replacement of aging facilities and the expansion of artificial intelligence (AI) infrastructure."