Hyosung Heavy Industries Corporation financial statements, 6 years: Back to a profit in 2021 after a net loss of KRW 19.3bn in 2020
Consolidated financial statements for 2020–2025 and the 2026 half-year report that Hyosung Heavy Industries Corporation filed with DART, laid out by year. No interpretation or outlook.
Hyosung Heavy Industries Corporation financial statements, 6 years: Back to a profit in 2021 after a net loss of KRW 19.3bn in 2020
The consolidated financial statements in the 2020–2025 annual reports that Hyosung Heavy Industries Corporation (298040) filed with Korea’s DART electronic disclosure system, laid out by year. Figures from the 2026 half-year report cover a different period and are shown separately. Every figure below is taken as filed in the DART submissions; there is no interpretation or outlook. Amounts are in Korean won (KRW; bn = billion, tn = trillion).
1. Income statement — the sign of net income changed in 2021
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 2.98tn | — | 44.1bn | — | 1.5% | −19.3bn |
| 2021 | 3.09tn | +3.71% | 120.1bn | +172.41% | 3.9% | 76.5bn |
| 2022 | 3.51tn | +13.42% | 143.2bn | +19.31% | 4.1% | 29.1bn |
| 2023 | 4.30tn | +22.52% | 257.8bn | +79.99% | 6.0% | 131.9bn |
| 2024 | 4.89tn | +13.82% | 362.5bn | +40.58% | 7.4% | 222.9bn |
| 2025 | 5.97tn | +21.93% | 747.0bn | +106.07% | 12.5% | 502.8bn |
Revenue was largest in 2025 at KRW 5.97tn and smallest in 2020 at KRW 2.98tn among the six years. It never fell from the previous year.
Operating income was largest in 2025 at KRW 747.0bn and smallest in 2020 at KRW 44.1bn. The operating margin was highest in 2025 at 12.5%.
Net income was largest in 2025 at KRW 502.8bn and smallest in 2020 at KRW −19.3bn.
2. Financial position — equity became 2.57x
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 3.70tn | 968.3bn | 282.5% | 71.2% |
| 2021 | 4.02tn | 1.04tn | 287.9% | 80.3% |
| 2022 | 4.69tn | 1.10tn | 325.4% | 88.7% |
| 2023 | 4.76tn | 1.22tn | 288.9% | 83.6% |
| 2024 | 6.22tn | 2.06tn | 202.5% | 98.2% |
| 2025 | 7.23tn | 2.49tn | 190.3% | 105.0% |
The debt ratio was highest in 2022 at 325.4% and lowest in 2025 at 190.3%.
Over the same period total assets went from KRW 3.70tn to KRW 7.23tn (1.95x), and total equity went from KRW 968.3bn to KRW 2.49tn and became 2.57x.
The current ratio was below 100% in 5 years, 2020, 2021, 2022, 2023 and 2024 — in those years current liabilities exceeded current assets.
3. Cash flow — negative in 1 year
| Fiscal year | Operating cash flow | Net income | ROE |
|---|---|---|---|
| 2020 | 386.6bn | −19.3bn | −2.0% |
| 2021 | 110.6bn | 76.5bn | 7.4% |
| 2022 | −67.1bn | 29.1bn | 2.6% |
| 2023 | 454.7bn | 131.9bn | 10.8% |
| 2024 | 412.1bn | 222.9bn | 10.8% |
| 2025 | 493.0bn | 502.8bn | 20.2% |
Operating cash flow was negative in 2022. It was largest in 2025 at KRW 493.0bn.
ROE was highest in 2025 at 20.2% and lowest in 2020 at −2.0%.
4. Latest half-year report (end of H1, 9th fiscal period, consolidated basis)
The period differs, so these figures cannot be compared directly with the annual tables above. Only cumulative figures for the same period of the previous year are compared.
| Item | 2026 cumulative | Same period last year | Change |
|---|---|---|---|
| Revenue | 3.05tn | 2.60tn | +17.06% |
| Operating income | 416.6bn | 266.6bn | +56.24% |
| Finance income | 450.2bn | 228.2bn | +97.27% |
| Operating cash flow | 453.7bn | — | — |
At the end of the period, total assets were KRW 8.56tn, total liabilities KRW 5.83tn and total equity KRW 2.73tn.
The cumulative operating margin was 13.7%.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: Hyosung Corporation, stake 32.47%
- Cash dividend per share KRW 7,500, payout ratio 13.40%, dividend yield 0.40%
- Employees: 7,134, average pay per employee KRW 87m
How to read this
This page lays out the filed figures by year and nothing more. Financial statements do not say why the numbers moved, so neither do we.
The order of publication follows revenue in the latest fiscal year and has nothing to do with the content.
To check the same figures, search for the company on DART and open the consolidated financial statements in its annual reports. Every number here was computed from the 2020–2025 annual reports and the interim report downloaded through the OpenDART API on 2026-10-29; ratios divide the filed account amounts.
This article is for information only and is not investment advice.