Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hyundai Electric & Energy Systems Co., Ltd.    A267260   KR7267260008

HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.

(A267260)
  Report
End-of-day quote. End-of-day quote Korea Stock Exchange - 10/21
14800 KRW   +1.72%
09/25Hitachi ABB Power Grids will hit 2025 target thanks to green revolution - CEO
RE
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Hitachi ABB Power Grids will hit 2025 target thanks to green revolution - CEO

share with twitter share with LinkedIn share with facebook
09/25/2020 | 04:50am EDT
Facchin, CEO of Hitachi ABB Power Grids gestures during an interview in Zurich

The power grids business Hitachi bought from ABB for $11 billion is likely to hit the upper end of its 2025 targets despite the effects of a coronavirus downturn over the next two years, Chief Executive Claudio Facchin said.

Hitachi ABB Power Grids, whose products connect power stations to homes and factories, expects a recovery as countries launch stimulus packages and the electricity industry switches to greener technologies.

The company which competes with Siemens, General Electric and Hyundai, is due to give an update on its financial targets in October.

"We see the pandemic as having a temporary effect and we're optimistic about the future," Facchin told Reuters.

"COVID-19 has a negative impact on us in 2020 and 2021 ... but by 2023 and 2024 we should not see any more effect. We expect an actual positive swing when the recovery and stimulus packages kick in," he said.

Although global electricity demand is set to fall 6% this year, demand for wind and solar is rising 5%, the International Energy Agency estimates.

"The pandemic has accelerated the conversion from fossil fuels to renewable sources of energy like wind and solar," said Facchin, 55, who also led the business when ABB was its owner.

"We are helping customers master the additional complexity of variable renewable energy sources and combining information technology and operational technology to improve efficiency."

Projects at Zurich-based Hitachi ABB Power Grids, whose annual orders of $10 billion are equivalent to 10% of Hitachi's revenue, include connecting the world's largest offshore wind farm in the North Sea to Britain's power grid.

In China it is delivering some of the world's longest powerlines, including a 1,700-km link to transmit hydro-generated electricity from Sichuan province to Jiangxi province.

Facchin said he was confident the business could beat the 2-3% growth annual growth rate for the $100 billion global power grid market.

The company, which employs 36,000, will tap Hitachi's expertise in IT and digital technology to enable predictive maintenance of power grids, for example.

It will use Hitachi's financing arm will to help clients fund projects, and increase its service business, Facchin said.

The Italian executive was confident he could raise profitability, which investors saw as a problem when ABB owned it.

It is targeting operational EBITA margins of 8 to 12%, up from 6.5% expected in the year to March 2021.

"We are going to be at the upper end of this corridor by 2025," Facchin said.

By John Revill


Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD -1.16% 23.96 Delayed Quote.3.72%
GENERAL ELECTRIC COMPANY 0.34% 7.375 Delayed Quote.-34.23%
HITACHI, LTD. 2.18% 3607 End-of-day quote.-22.03%
HYUNDAI CORPORATION 1.41% 14350 End-of-day quote.-19.83%
HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD. 1.72% 14800 End-of-day quote.28.14%
HYUNDAI MOTOR COMPANY -1.19% 165500 End-of-day quote.37.34%
SIEMENS AG -1.86% 108.68 Delayed Quote.-4.98%
share with twitter share with LinkedIn share with facebook
All news about HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
09/25Hitachi ABB Power Grids will hit 2025 target thanks to green revolution - CEO
RE
More news
Financials
Sales 2020 1 889 B 1,66 B 1,66 B
Net income 2020 1,50 B 0,00 B 0,00 B
Net Debt 2020 436 B 0,38 B 0,38 B
P/E ratio 2020 404x
Yield 2020 -
Capitalization 524 B 460 M 460 M
EV / Sales 2020 278x
EV / Sales 2021 264x
Nbr of Employees -
Free-Float 51,7%
Chart HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
Duration : Period :
Hyundai Electric & Energy Systems Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 15 625,00 KRW
Last Close Price 14 550,00 KRW
Spread / Highest target 37,5%
Spread / Average Target 7,39%
Spread / Lowest Target -14,1%
EPS Revisions
Managers
NameTitle
Myung-Rim Jung President, Chief Executive Officer & Director
Young-Gi Kim Chief Technology Officer
Seok-Hyeong Lee Independent Director
Seung-Woo Ryu Independent Director
Seok-Ho Geum Director
Sector and Competitors
1st jan.Capitalization (M$)
HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.25.97%445
KEYENCE CORPORATION29.54%114 227
SCHNEIDER ELECTRIC SE16.78%67 986
NIDEC CORPORATION36.49%56 985
EATON CORPORATION PLC13.90%43 167
EMERSON ELECTRIC CO.-8.26%41 808