HD Hyundai Electric Reports Q2 Operating Profit of 287 Billion Won, Up 37.3% Year-on-Year

Sales of 1.14 Trillion Won, Operating Margin at 25.1%
Quarterly Dividend of 1,300 Won Per Share Announced

HD Hyundai Electric reported strong performance growth, driven by replacement demand in the North American power grid and favorable domestic semiconductor projects.

On July 28, HD Hyundai Electric announced via regulatory filing that its sales for the second quarter of 2026 reached 1.1418 trillion won, with an operating profit of 287.0 billion won. Compared to the same period last year, sales increased by 26% and operating profit rose by 37.3%, respectively. The operating margin stood at 25.1%, a 2.0 percentage point increase from the previous year.

By business segment, sales from the power equipment division grew by 10.7% year-on-year, fueled by continued global power grid replacement demand and expanded overseas sales of high-voltage circuit breakers. The distribution equipment segment also recorded sales of 231.2 billion won, up 20.2% year-on-year, driven by expanded supply to domestic semiconductor projects. Improved profitability in power transformers in key overseas markets such as North America, along with profitability improvements in distribution boards for domestic semiconductor projects, propelled the company’s overall results.

The second quarter order amount stood at 1.44 billion dollars (approximately 2 trillion won), a 44.6% year-on-year increase, bringing the cumulative order amount for the first half to 3.237 billion dollars (approximately 5 trillion won). The order backlog amounted to 8.49 billion dollars (about 12 trillion won), up 29.6% from the same period last year, establishing a stable foundation for continued growth.

A representative from HD Hyundai Electric stated, "Alongside the structural growth trend in the power equipment business, profitability in the distribution equipment business has also significantly improved. Since soaring electricity demand—mainly from data centers—is leading to increased orders for distribution and rotating equipment, we expect to maintain steady growth in the second half of the year as well."

Meanwhile, HD Hyundai Electric separately announced a quarterly cash dividend of 1,300 won per common share on this date. The total dividend payout will amount to 46.8 billion won, with August 12 set as the record date and August 27 as the scheduled payment date.

This content was produced with the assistance of AI translation services.