 |
|
[Apha Biz=(Chicago) Reporter Paul Lee] According to the credit rating industry on the 24th, Hyundai Rotem will visit the corporate bond market in a year and a half. It will start raising 90 billion won early next month to pay off its borrowings.
According to the Korea Securities Depository, Hyundai Rotem is set to mature its corporate bonds worth 15 billion won next month and 50 billion won in October.
Previously, the Korea Credit Rating raised Hyundai Rotem's credit rating from 'A-· positive' to 'A stable' on the 22nd. This is due to an improvement in cash flow due to improved performance, while financial indicators improved as borrowings decreased.
Hyundai Rotem's consolidated sales in the first half of this year were 1.6713 trillion won, up 14.2% from a year earlier. Operating profit jumped 80.2% to 99.1 billion won. As a result, the inflow of cash from operations nearly quadrupled from 184.2 billion won to 677.6 billion won during the same period. EBITDA (Evita, amortized operating profit) increased by 45.8% from 87.5 billion won to 127.6 billion won. This is the result of a steady increase in order backlogs from 7.9 trillion won at the end of 2018, reaching 16.6 trillion won as of the end of the first half of this year.
By business sector, sales in the defense solution sector, which operates the production, maintenance and defense business of tanks and armored vehicles, increased 81.5%, driving the overall performance.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
