HD Hyundai Marine Solutions, a comprehensive solutions provider in HD Hyundai's marine industry sector, disclosed on the 26th that it recorded Q3 revenue of 650.1 billion won and an operating profit of 95.7 billion won. Revenue increased by 26.7% and operating profit rose by 2.2% compared to the same period last year.
Core businesses, including the Aftermarket (AM) division for ship parts and services and the eco-friendly and digital solutions divisions, drove revenue growth. Revenue from these segments reached 356.5 billion won, an increase of 18.4% year-on-year.
In particular, AM division revenue hit a record high for the seventh consecutive quarter at 282.7 billion won, up 15.7% from the same period last year, driven by sustained demand for maintenance and repair of ships and equipment. This was due to increased ship parts sales and the inclusion of land-based power generation revenue, such as a power plant maintenance contract in Ecuador.
Bunkering business revenue reached 293.6 billion won, an increase of 38.5% year-on-year.
The eco-friendly solutions division recorded revenue of 39.3 billion won, up 17.3% from the same period last year amid expanding demand for eco-friendly ships. HD Hyundai Marine Solutions plans to maintain its strong performance by actively responding to the continuously increasing demand for gas fuel retrofitting due to energy diversification and expanding orders for carbon reduction solutions.
The digital solutions division also continued its growth trend. Revenue reached 34.5 billion won, a 48.1% increase from the same period last year, as orders for digital solutions installed on ships increased with the expansion of newbuild volumes.
An official at HD Hyundai Marine Solutions stated, "Despite an uncertain external environment, our core businesses have grown evenly, allowing us to build an even more stable business foundation." The official added, "With the acquisition of Goltens expected to strengthen the competitiveness of our core AM division, we will further expand our position in the global market."
Meanwhile, HD Hyundai Marine Solutions disclosed on the 8th that it signed a share purchase agreement to acquire 100% of the shares in Goltens, a global specialist in engine services for ships and land-based power generation. Founded in New York in 1940, Goltens has been engaged in the MRO (Maintenance, Repair, and Overhaul) business for two-stroke and four-stroke engines installed on ships and land-based power plants for 85 years.
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