Hyundai Heavy Industries Co., Ltd.
In the news
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- Top Chinese shipbuilders CSSC and CSIC win approval for merger Oct 26, 2019 See more articles on Hyundai Heavy Industries Co., Ltd.
South Korea's Hyundai Heavy Industries is one of the world's largest shipbuilders. It is also involved in oil refining through its subsidiary, Hyundai Oilbank. The company is one of the largest manufacturers in South Korea after Samsung Electronics, Hyundai Motor and others, with annual sales of around 50 trillion won.
Shipbuilding and oil refining are the company's two main sources of revenue. It also conducts business in areas such as offshore and engineering, construction equipment and electro electric systems.
The company's specialization in high-value-added vessels such as liquefied natural gas carriers and drill ships propelled it to the top of the shipbuilding industry in terms of volume years ago. Earnings, however, are precarious because of increased competition from Chinese rivals since the 2008 global financial crisis.
In the year ended December 2014, the company logged its biggest operating loss since its 1973 founding. It is now implementing structural reforms such as consolidating its group businesses, cutting jobs and reducing salaries. Unlike Hyundai Motor, which has a powerful labor union, relations between staff and management at Hyundai Heavy Industries are favorable. However, its unionized workers in 2014 staged their first strike in about 20 years to protest against the structural reforms.
Chung Mong-joon, the sixth son of the Hyundai conglomerate founder Chung Ju-yung, is the company's major shareholder. Chung, who has also served as chairman of the Korea Football Association and a member of the National Assembly, has decisive influence over the management of the company. Chung is expected to pass the baton to his son in the future.
|Income before tax||-854,036.98M||-776.03M|
|Dividends Per Share||0||0|
|Operating cash flow||-777,611.37M||-706.58M|
|Currency in KRW||Currency in USD|
|Dec 2014||Dec 2015||Dec 2016||Dec 2017||Dec 2018|
|Income before tax||-3,105.04B||-1,841.41B||96,027.01M||-26,905.46M||-854,036.98M|
|Dividends Per Share||2,556.96||0||0||0||0|
|Operating cash flow||1,691.67B||-680,519.06M||2,055.03B||1,611.69B||-777,611.37M|
|Dec 2014||Dec 2015||Dec 2016||Dec 2017||Dec 2018|
|Income before tax||-2,949.71M||-1,626.97M||82.76M||-23.79M||-776.03M|
|Dividends Per Share||2.42||0||0||0||0|
|Operating cash flow||1,607.05M||-601.26M||1,771.29M||1,425.63M||-706.58M|
- Chief Executive Officer & Director: Oh-Gap Kwon
- Chief Financial Officer & Director: Young-Chul Cho
- Vice President & Head-Compliance Management: Sea-Heon Oh
- Vice President: Ki-Sun Jung
- Vice President & Head-Management Support: Jin-Yul No
- Hyundai Heavy Industries Holdings Co., Ltd. (30.9%)
- National Pension Service of Korea (10.2%)
- KCC Corp. (6.6%)
- Hyundai Heavy Industries Co., Ltd. ESOA (3.3%)
- Asan Foundation (2.3%)
- Hyundai Motor Co., Ltd. (2.3%)
- The Vanguard Group, Inc. (1.6%)
- BlackRock Fund Advisors (1.2%)
- Norges Bank Investment Management (0.8%)
- Samsung Asset Management Co., Ltd. (0.8%)
- Address: 14th Floor, Hyundai Building, 75 Yulgok-ro, Seoul, 03058, South Korea
- Phone: +220.127.116.114
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Copyright © 2019 FactSet Research Systems Inc. All rights reserved.Last Updated on 13 Dec, 2019