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Review 2015 and forecast 2016 Hyundai Heavy Industries Europe

Friday 15 January 2016 •

CEO HHI Mr. Kwon Oh-gap

2015 has been the most successful year ever for Hyundai Heavy Industries Europe. Sales numbers and turn-over reached an all-time high with more than 5,000 units sold and over € 250 million in turn-over. Despite the unstable economic situation and the unfavourable exchange rate for the Euro, Hyundai dealers managed an excellent performance in key markets including the UK and France.

Hyundai also introduced a great deal of new models in both construction equipment and forklifts. These new models have better fuel efficiency (lower fuel consumption), enhanced operators’ comfort and smarter machine controllability.  The renewal of the entire product line-up will continue for the coming year; so the year 2016 is looking promising.

However some concerns remain with respect to Hyundai Heavy Industries as a global company. Orders for new ships and power plants are diminishing due to the economic situation in South America and Asia. The CEO of Hyundai Heavy Industries in South Korea, Mr O.G. Kwon has communicated his aspirations for 2016:

The business slogan for this year is “Change Together” and sets out the following main objectives:

“HHI set the full-year sales target at W21.6396 trillion and the new order target at $19.5 billion. These may seem lofty, but nothing would be impossible if we put in our best efforts.”

“We have different business lines, thereby a different set of competitors, but everything had been managed under a uniform approach. Each of our business divisions needs to foster its own competitiveness, and this starts with total responsibility management at division level.”

“It is important to attain technological prowess. Without world-class technologies it is difficult to build a sustainable business. Although it may take some time; new thinking and a new spirit will result in path-breaking technology.”

Hyundai’s success in Europe will be evident at the forthcoming Bauma 2016 exhibition. The Hyundai stand will occupy an impressive 3,447 sqm and will play host to a number of machines – many of which will be making their world premiere at the event.

Mister J.C. Jung, CEO of HHIE adds, “Market conditions continue to be harsh in our industry. Our business slogan for this year is ‘Change Together’, which means we implement changes and innovations. That is why we are proud to present our latest new generation machines at Bauma to our customers and to our dealers.”

Mr J.C. Jung added “In addition, we’re very happy to begin the construction work of our € 30 million investment project for our new headquarters in Tessenderlo, Belgium. Our solid investment in this region and to grow our facility will enable Hyundai to increase our success in Europe.

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