Hyundai Rotem Reports Over 1 Trillion Won Operating Profit, Order Backlog Nears 30 Trillion Won
Hyundai Rotem reported an operating profit of over 1 trillion won for the first time, achieving 1.056 trillion won, a 120% year-on-year increase, with sales rising to 5.839 trillion won. The company's order backlog has reached 29.7735 trillion won, bolstered by significant domestic and international projects, including contracts for K2 tanks with Poland valued at 8.7 trillion won. This growth is attributed to full-scale production in high-speed rail and defense sectors.
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Hyundai Rotem has achieved over 1 trillion won in operating profit for the first time, reporting 1.056 trillion won for the previous year, a 120% increase year-on-year. Sales reached 5.839 trillion won, up 33.4%.
This growth is driven by the commencement of full-scale production in domestic and international high-speed rail and electric train projects, including the Uzbekistan and Queensland projects. In defense, production has begun for mass-produced K2 tanks exported to Poland and wheeled command post vehicles.
The company's order backlog now stands at 29.7735 trillion won, up 58.7% from the previous year, with significant domestic orders including the 1.3 trillion won Daejanghongdaeseon project and a 2.2 trillion won project for Morocco. Hyundai Rotem has also signed a second contract with Poland for K2 tanks worth 8.7 trillion won, establishing a foundation for long-term growth.
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