Hyundai Mobis Enters First 40 Trillion KRW Revenue Era... Last Year's Operating Profit 2.04 Trillion KRW, Up 12% YoY

Last Year Sales of 41.7022 Trillion KRW, Operating Profit of 2.0401 Trillion KRW Recorded
Electric Vehicle Parts Sales Exceed 2 Trillion KRW for the First Time in Q4

[Asia Economy Reporter Kiho Sung] Hyundai Mobis has entered the era of 40 trillion KRW in sales for the first time in its history. Sales of electrification parts also exceeded 2 trillion KRW for the first time in the fourth quarter.

Hyundai Mobis announced on the 26th that it recorded sales of 41.7022 trillion KRW and an operating profit of 2.0401 trillion KRW last year. Net profit for the same period was 2.3625 trillion KRW. Compared to the previous year, sales increased by 13.9%, and operating profit and net profit increased by 11.5% and 54.7%, respectively. This is the first time Hyundai Mobis's annual sales have exceeded 40 trillion KRW.

In the fourth quarter of last year, Hyundai Mobis recorded sales of 11.6114 trillion KRW, an 8.8% increase compared to the previous year. Operating profit reached 528.6 billion KRW but decreased by 24.7% compared to the same period last year.

Hyundai Mobis explained that the growth in sales was driven by increased sales of electrification parts due to the expansion of eco-friendly vehicle production and the expansion of supply of high value-added core parts for mid-to-large and sports utility vehicles (SUVs). Aggressive global sales activities, diversification of order items, and efforts to secure new customers also contributed to the sales increase.

In the fourth quarter of last year, sales in the core business areas of module and core parts manufacturing recorded 9.3231 trillion KRW, a 5.9% increase compared to the same period last year. Among these, sales of electrification parts reached 2.0482 trillion KRW, exceeding 2 trillion KRW for the first time on a quarterly basis.

In particular, Hyundai Mobis achieved orders worth 2.517 billion USD for core parts from overseas automakers last year. This is a 43% surge in order performance compared to the previous year. This year, the company has set a target of 3.747 billion USD in overseas orders, about 50% higher than last year. Hyundai Mobis plans to engage in customized order activities through its competitiveness in core parts such as electronics, lamps, and electrification, as well as dedicated local customer organizations.

A Hyundai Mobis official stated, "This year, we will flexibly and effectively respond to the uncertain internal and external management environment to improve profitability and continuously strengthen global competitiveness by securing core technologies in the future vehicle sector."

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