HD Hyundai Heavy Industries FY 2025 Annual Report
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Filed: March 20, 2026· period ending December 31, 2025DART

HD Hyundai Heavy Industries annual report for FY 2025, filed with DART (Korea Financial Supervisory Service) on March 20, 2026. This page provides AI-powered English analysis including business overview, management discussion & analysis (MD&A), risk factors, and KIFRS consolidated financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE).

HD Hyundai Heavy Industries FY 2025 Annual Report Analysis

Business Overview

• Core business model: diversified industrial group with segments in shipbuilding & offshore, refining (86% fuel products), electrical & electronic equipment (5%), construction machinery (12%), and robotics (0.4%)
• HD Hyundai Oilbank's refining production utilization at 88% for 167.7M barrels in 2025; exports over 50% of output; Aramco Trading Singapore Pte. Ltd. is >10% major customer

Management Discussion & Analysis

• Revenue KRW 71.26T (+5.2% YoY); operating profit KRW 6.10T (+104.5% YoY); net income KRW 3.68T (+90.4% YoY) for FY2025
• Shipbuilding & Offshore segment OP increased by KRW 3.12T to KRW 4.65T, driven by "increased order volume and ship price rises"

Risk Factors

• USD, EUR, CNY, JPY foreign exchange exposure hedged with forward contracts, average KRW contract amounts: USD KRW 23.04T sell, KRW 30.36T buy (HD Hyundai Heavy Industries consolidated)
• Largest derivative liability: KRW 1.16T non-current currency forwards liabilities (HD Hyundai Heavy Industries consolidated)

HD Hyundai Heavy Industries FY 2025 Key Financial Metrics
DART

Total Assets

KRW 78.69T

▲ +6.5% YoY

Operating Cash Flow

KRW 7.38T

▼ -1.7% YoY

CapEx

KRW 2.16T

▲ +25.2% YoY

Source: KIFRS consolidated financial data from HD Hyundai Heavy Industries annual report on DART. All figures in KRW.

Source: DART (Korea Financial Supervisory Service) · AI summaries generated from the original Korean filing (English output) · Beta: coverage is expanding