Improved Auto Industry Performance... Hyundai Mobis Also Reports Strong Q2 Results (Comprehensive)

Hyundai Mobis Q2 Operating Profit 563.6 Billion KRW... 234% Increase YoY Strong Performance

[Asia Economy Reporter Changhwan Lee] Hyundai Mobis recorded strong second-quarter earnings, driven by the global automotive industry's performance growth and the popularity of high value-added vehicles such as eco-friendly cars and SUVs (Sports Utility Vehicles).

On the 23rd, Hyundai Mobis announced that it posted sales of 10.2851 trillion KRW, operating profit of 563.6 billion KRW, and net profit of 669.6 billion KRW in the second quarter of this year.

Compared to the same period last year, sales and operating profit increased by 36.5% and 234%, respectively, while net profit rose by 185.3%.

Following the first quarter, solid performance growth continued in the second quarter in its core businesses of module and key component manufacturing. Sales in the module and key component manufacturing sector reached 8.2728 trillion KRW in the second quarter, up 35.8% from the same period last year.

The increase in vehicle production volume and the expansion of supply of high value-added key components for mid-size vehicles, SUVs, and eco-friendly vehicles led to the strong performance.

In particular, sales from electrification, centered on electric vehicles, increased by 37.8% year-on-year to 1.3637 trillion KRW in the second quarter of this year due to the rise in eco-friendly vehicle production.

As of the first half of this year, Hyundai Mobis recorded sales of 20.1009 trillion KRW, operating profit of 1.0539 trillion KRW, and net profit of 1.2729 trillion KRW.

Sales and operating profit increased by 25.9% and 98.9%, respectively, while net profit grew by 118%. Despite unfavorable exchange rate conditions and rising transportation costs, the recovery of the global automotive market and product quality competitiveness are credited with driving the improved performance.

Hyundai Mobis emphasized that orders are expanding in the second quarter as well, including supplying vehicle infotainment products to North American automakers.

Based on this competitiveness, the company plans to strengthen global sales efforts to secure new customers in North America, Europe, and China, focusing on high value-added key components such as electronics, lamps, chassis, and electrification.

Meanwhile, Hyundai Mobis plans to implement quarterly dividends (1,000 KRW per share) in the second half of the year, which were not carried out last year due to increased management uncertainty caused by COVID-19, and will proceed with share buybacks as scheduled, which were proposed as part of mid- to long-term shareholder value enhancement measures.

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