[Hyundai Motor Conference Call] "Excluding One-Time JV Costs, 1Q Auto Division Operating Profit Down 8% YoY"
[Asia Economy Reporter Suyeon Woo] Hyundai Motor Company stated on the 23rd during the 2020 Q1 earnings conference call that "considering the one-time costs related to the establishment of the Aptiv joint venture, the actual operating profit of the automotive division in Q1 decreased by 8% compared to the previous year."
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Hyundai Motor added, "After March, when fixed costs are high, production volumes will gradually be sold from Q2 onward, which is expected to put pressure on profitability. We are reviewing various internal scenarios based on future demand and outlook, and we will establish a crisis response system through liquidity risk management, strategic sales inventory operations, securing production flexibility, and activities to ensure stable parts supply."
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