▶ Annual revenue of KRW 3.4381 trillion, operating profit of KRW 190.4 billion
▶ Continued growth in India, Brazil, and China markets; recovery delayed in advanced and emerging markets
▶ Strengthening competitiveness through market-specific product manufacturing and enhanced production efficiency at the Ulsan campus

HD Hyundai Construction Equipment (CEO Choi Cheol-gon) announced on Thursday, February 6, that it recorded a revenue of KRW 3.4381 trillion and an operating profit of KRW 190.4 billion for 2024.
 
The total revenue decreased 10.1% year-over-year due to sluggish global market demand. The operating profit declined 26% year-over-year. This has been attributed to reduced revenue, intensified competition amid poor market conditions, and increased promotional expenses.
 
Regional revenue analysis shows notable growth in India and Brazil. India's revenue increased 13.8% year-over-year, driven by government-led infrastructure investment initiatives, while Brazil grew 24.9% year-over-year by expanding its compact equipment product line.
 
However, advanced markets in North America and Europe saw continued demand weakness, with revenue declining 12.5% and 16.4% year-over-year, respectively. Emerging markets also experienced a 25% year-over-year revenue decrease due to delayed purchasing power recovery amid persistent high exchange and interest rates and geopolitical risks. On a positive note, the reduced inventory levels accumulated during the sales slowdown suggest potential for future sales expansion.
 
A company representative stated, "We will maximize quality and production efficiency through our Ulsan modernization plant, scheduled for completion in the first half of this year," adding, "We will strengthen our competitiveness and focus on expanding market share and revenue by manufacturing and supplying market-specific products, including ultra-large equipment specialized for mining operations."