Hyundai Heavy books first quarter deficit

Shipbuilder Hyundai Heavy Industries suffered a deficit in the first months of the year, reporting a slide in orders and currency fluctuations.

Photo: /ritzau/AP/Lee Jin-man

South Korean shipbuilder Hyundai Heavy Industries went negative again in the first quarter of the year with a net deficit of USD 123 million, compared to a profit in the same period last year.

According to news agency Yonhap, the setback is caused by a strong KRW combined with fixed costs and a decreasing order intake. The effects of this included lower earnings on foreign business transactions.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news


See all

See all