HD Hyundai Infracore, a key player in the construction equipment industry, has reported mixed results for the second quarter of 2024. The company experienced a 50% year-on-year (YoY) EBIT drop, and 16% YoY sales decline.
Construction Equipment division revenue fell 22% from 1,013 billion won to 786 billion won, while Engine division revenue gained 7% from 300 to 322 billion won
Despite the overall decline in Construction Equipment business, some regions demonstrated positive growth. Sales in Emerging Markets saw a YoY increase, contributing to the company’s strategy to target a market share increase to 4-5% by 2024 and 6-7% in the long term.
The company remains committed to sustainability and has been recognized for its efforts, maintaining an A rating from the Korea Corporate Governance Service and other international agencies. Included in the Dow Jones Sustainability Index Korea for 14 consecutive years,
Hyundai Infracore continues to project compound annual growth rate (CAGR) for 2023-28 at 19.4%.
