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Hyundai Heavy Industries Holdings turns to red in Q1

All News 15:11 April 29, 2020

SEOUL, April 29 (Yonhap) -- Hyundai Heavy Industries Holdings Co. on Wednesday reported its first-quarter net loss of 360.4 billion won (US$ 295.8 million), shifting from a profit of 97.6 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 487.2 billion won for the January-March period, compared with a profit of 144.5 billion won a year ago. Sales fell 11.9 percent to 5.71 trillion won.

The operating profit was 35.5 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).
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