HD现代电气Q3营收创纪录但营业利润低于预期，同步宣布1980亿韩元扩建清州配电园区

HD Hyundai Electric (267260.KS) posted its highest quarterly revenue on record in the third quarter, lifted by robust demand for power equipment at home and abroad. Betting that the strength will persist over the medium to long term, the company said it will spend about 200 billion won over roughly two years to expand its distribution equipment campus in Cheongju.
HD Hyundai Electric disclosed the preliminary third-quarter results and the new investment plan on the 27th. Consolidated revenue came to 1.18 trillion won ($820 million) and operating profit to 284.5 billion won ($198 million). Revenue rose 18.5% from a year earlier and operating profit climbed 15.1%. The operating margin, however, slipped 1 percentage point to 24.1% from 25.1% a year earlier, as domestic sales grew faster than higher-margin overseas sales.
The order backlog stood at $8.84 billion, up 26.6% from a year earlier, while new orders in the third quarter fell 19.1% to $980 million. Appearing mindful of concerns that demand has peaked, the company said the decline reflected a base effect from the $3.23 billion in large orders booked in the first half of this year, adding that it maintains a solid order base.
The company also unveiled a second-phase investment plan for the Cheongju distribution campus to expand production capacity. It will invest a total of 198 billion won over the next 26 months to build a production cluster for distribution equipment. The company expects the project to add 250 billion won in annual revenue. It had earlier closed its Anseong plant and completed the transfer of production facilities early this year to the Cheongju campus, which was finished late last year.
The Cheongju distribution campus is a new plant for low- and medium-voltage circuit breakers, built at a cost of 116.1 billion won on a site of 85,420 square meters. Orders have piled up to the point that the company is moving ahead with additional expansion just as the plant enters full operation. An HD Hyundai Electric official said long-term package contracts supplying both power transformers and distribution equipment have been expanding, led by Big Tech firms in North America. The official said the company will strengthen its differentiated competitiveness on the strength of integrated supply capabilities spanning power transformers, distribution transformers and distribution equipment, and further expand its position in the global power infrastructure market.