Hyundai Motor Securities Reports Record High Operating and Net Profit in Q1 Since Establishment

Photo by Asia Economy DB

[Asia Economy Reporter Park Jihwan] Hyundai Motor Securities announced on the 29th that it recorded an operating profit of 57 billion KRW (provisional) on a consolidated basis for the first quarter of this year. This figure represents a 72% increase compared to 33.1 billion KRW in the same period last year. Nearly half of last year's annual operating profit of 117.4 billion KRW was earned in just the first quarter.

Net profit for the period was 41.2 billion KRW, approximately a 67% increase compared to 24.6 billion KRW in the same period last year. Both operating profit and net profit marked the highest performance since the company's founding.

By division, the Investment Banking (IB) sector recorded net operating income nearly double that of the same period last year, thanks to proactive investments aligned with market trends. The Retail division also achieved its highest quarterly performance, supported by a booming market. The Proprietary Investment (PI) division achieved net operating income about 10% higher than the same period last year by earning stable returns from previously invested high-quality assets.

The return on equity (ROE), a profitability indicator, also improved significantly. The annualized ROE on a consolidated basis as of the end of March this year was 15.3%, representing a top-tier level in the industry. The company explained that the profit level has been raised due to a balanced portfolio across major business divisions.

Hyundai Motor Securities stated, "Our diversified revenue strategy based on thorough market analysis is bearing fruit," and added, "We will continue stable growth with a balanced portfolio that does not concentrate on specific business areas."

This content was produced with the assistance of AI translation services.