HD Hyundai Heavy Industries Returns to Profit in 2023

SEOUL — HD Hyundai Heavy Industries Co. announced a positive shift in its financial performance for 2023, reporting a net profit of 24.7 billion won ($18.6 million), a notable recovery from a net loss of 352.1 billion won the previous year. The regulatory filing on Tuesday also highlighted an operating profit of 178.6 billion won for the year, marking a significant turnaround from an operating loss of 289.2 billion won in the prior period. Additionally, the company's annual revenue increased by 32.3 percent to 11.96 trillion won.

According to Yonhap News Agency, This financial rebound illustrates HD Hyundai Heavy Industries' successful efforts to overcome the challenges it faced in the previous year, bolstered by improved market conditions and strategic business initiatives. The return to profitability signifies a promising outlook for the company as it continues to solidify its position in the global shipbuilding and heavy industries sectors.

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