Hyundai Heavy Industries has worst performance ever in Q2

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Hyundai Heavy Industries has worst performance ever in Q2

Hyundai Heavy Industries (HHI), Korea’s largest shipbuilder, reported its worst-ever performance with an operating loss of more than 1 trillion won ($976 million) in the second quarter.

The shipbuilder said yesterday that it marked an operating loss of 1.1 trillion won from April to June. The company had an operating profit of 289 billion won in the same period last year.

Its second quarter revenue was 12.8 trillion won, down 2.1 percent from a year ago, while its net loss was 616.6 billion won.

HHI said that the huge losses were due to the strong won.

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