Hyundai Motor Securities Achieves Record High Performance... Operating Profit of 98.4 Billion KRW Last Year
[Asia Economy Reporter Kum Boryeong] Hyundai Motor Securities achieved record-high performance last year.
Hyundai Motor Securities announced on the 30th that its consolidated operating profit last year was 98.4 billion KRW, and net profit was 71.8 billion KRW. This represents an increase of 44.5% and 42.1%, respectively, compared to the previous fiscal year. It surpassed the previous record set in 2018 once again.
By sector, the investment banking (IB) and private investment (PI) businesses showed significant results. The IB division recorded approximately 100 billion KRW in net operating income last year. This is similar to the previous fiscal year's record-high net operating income of 101.5 billion KRW. This was achieved by discovering highly viable deals in the domestic and international real estate project financing (PF) markets, while expanding into alternative investment areas such as overseas renewable energy and domestic and international logistics centers.
The PI division also played a solid role as a source of income. The PI division recorded about 66.9 billion KRW in net operating income last year, a 51.4% increase from 44.2 billion KRW in the previous fiscal year. In particular, the investment in Shinhan Alpha REITs, which greatly contributed to performance until the third quarter, recorded a cumulative return of 49.27% (including dividend income) last year. Additionally, stable income was secured through the sale of Dongtan Center Point Mall in the first half of the year (transaction price of 232.5 billion KRW), investment in German wind power, and investment in Luxembourg offices.
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A Hyundai Motor Securities official said, "The background of achieving record-high performance last year was the result of actively responding to an uncertain market environment based on securing stable income sources and risk management capabilities," adding, "This year, we plan to steadily produce results in competitive fields while establishing a stable income base through thorough risk management."
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