Hyundai misses 2009 target

31 Dec 2009

The shipbuilder fell short of target, despite increased yearly sales

Hyundai Heavy Industries said it won orders valued at $10.6 billion this year, well below its full-year target of $21.1 billion as the global credit crisis caused decreased trade reduced demand for new ships.

Hyundai’s new contracts were also down 61% from a year earlier while its full-year sales rose 6.9% to 21.3 trillion won ($18 billion) but fell short of its yearly target of 23 trillion won.

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