After ten consecutive trimesters in red, Hyundai Heavy Industries is returned to the profit



In the first trimester of the 2016 South Korean navalmeccanico group Hyundai Heavy Industries (HHI) it is returned to clearly record an operating result and a result both of positive sign after respective nine and ten consecutive quarterly performances of sign negative. In the first three months of this year the revenues totaled from the group have been pairs to 10.272, 8 billion won (beyond 8,9 billion dollars), with a decrease of the -16,0% regarding 12.228, 1 billion won in the first three months of 2015. The operating profit is piled to 325,2 billion won respect to an operating result of sign negative for -192,4 billion won in the first trimester last year. The profit clearly has attested to 244,5 billion won respect to a net loss of -125,2 billion won in the first three months of 2015.

"In the first trimester of 2016 - it has specified today a HHI spokesman - we have returned to the profit mainly because of the following reasons: the gradual contract elimination of construction of limited value, the stabilization of the constructive processes in the fields of the offshore one and the industrial systems, the decrease of the costs of the materials, the weakening of the won and the sensitive improvement of the performances of the activities outside that of shipbuilding, included the fields Engine & Machinery, Electro Elecric Systems and Construction Equipment". "A role in the return to the profit - it has specified - is carried out also by the remarkable results of Hyundai Oilbank, our enterprise of refining". "We have found - it has specified the spokesman - than the consolidated results of the first trimester of 2016 have not determined a meaningful variation of the performance objective defined anniversary at the beginning of this year".

The South Korean group has emphasized moreover that the return to the useful one is yields also of the drastic series of and wide under way measures of restructure in 2014 in order to tackle to the been extended crisis. "From now on - it has explained the HHI spokesman - we will estimate the performances of each division through its level of competitiveness in the respective segment of business. Even if in the first trimester of this year we are returned to the profit - it has concluded - if of a bending of the pocketbook orders we concentrate ourselves mainly on the cost reduction. Moreover, under the guide of every division manager, we will continue to complete our maximum efforts in order to recover the competitive advantage putting into effect a restructure of the activities and the organizational structure".