Seoul: HD Hyundai Mipo Dockyard Co. said Thursday its net profit for 2024 totaled 113.2 billion won (US$78.1 million), swinging from a loss of 139 billion won a year earlier. Operating profit for the year was 88.5 billion won, compared with a loss of 152.9 billion won from the previous year, the company said in a regulatory filing. Annual revenue rose 14.6 percent to 4.63 trillion won.
According to Yonhap News Agency, HD Hyundai Mipo's financial turnaround is notable following the previous year's significant losses. The company's improved performance is attributed to increased demand and strategic operational adjustments, which have positively impacted their financial statements for the year.
The company's announcement highlights a successful year, showcasing recovery in net and operating profits, as well as a notable increase in annual revenue. This financial recovery marks a significant milestone for HD Hyundai Mipo, reflecting the company's efforts in overcoming previous challenges and setting a stronger foundation for future growth.