Newly launched HD Construction Equipment aims for $6 bil. in 2026 revenue

A Hyundai-branded 52-ton excavator / Courtesy of HD Construction Equipment

HD Construction Equipment, launched Jan. 1 through the merger of HD Hyundai Infracore and HD Hyundai Construction Equipment, announced Wednesday that it aims to post 8.7 trillion won ($5.9 billion) in revenue and 439.6 billion won in operating profit this year.

When HD Hyundai unveiled the merger plan last July, the conglomerate said the new entity would generate more than 14 trillion won in annual revenue by 2030. The combined revenue of HD Hyundai Infracore and HD Hyundai Construction Equipment in 2025 is estimated at around 7.9 trillion won.

“With the swift execution of our mid- to long-term strategy and the creation of synergy from the merger, we will outperform the market,” HD Construction Equipment CEO Moon Jae-young told institutional investors during the announcement of the company's plan.

“We will actively invest in facilities and technology development to strengthen the core competitiveness of our business.”

A Develon-branded 36-ton excavator / Courtesy of HD Construction Equipment

HD Construction Equipment cited its recent success in securing large-scale orders in emerging markets.

The company said it recently signed contracts with gold mine developers in Ethiopia to supply 70 Develon-branded 36-ton excavators and an additional 50 Hyundai-branded 34-ton excavators. Before the merger, HD Hyundai Infracore produced Develon-branded equipment, while HD Hyundai Construction Equipment manufactured Hyundai-branded machines.

Last year, HD Hyundai’s share of the Ethiopian excavator market reached 80 percent.

According to the company, sales of its 30-ton excavators in the African market have doubled annually over the past three years, driven by the product’s stability, durability and fuel efficiency.

“Building on the brand recognition of Hyundai and Develon in Africa, we will strengthen customer support in regional hubs such as Ghana and South Africa, forming partnerships to meet rising equipment demand across major countries,” an HD Construction Equipment official said.

The company said it also recently secured an order from the Vietnamese government for 71 construction machines, including 20 20-ton wheeled excavators for disaster response and several 20- to 30-ton crawler excavators for infrastructure projects.

In Kyrgyzstan, the firm supplied 41 pieces of construction equipment, including 52-ton and 38-ton excavators for road and building construction.