Hyundai Mobis Q2 Sales 12.3081 Trillion KRW, Operating Profit 403.3 Billion KRW

19.7% Increase and 28.4% Decrease Year-on-Year
Electric Parts Sales Up 54% Due to Expansion of Eco-Friendly Vehicles

[Asia Economy Reporter Kiho Sung] Hyundai Mobis recorded sales of 12.3081 trillion KRW, operating profit of 403.3 billion KRW, and net profit of 769.7 billion KRW in the second quarter of this year. Compared to the same period last year, sales increased by 19.7%, operating profit decreased by 28.4%, and net profit increased by 15%.

Despite delays in production recovery of global automakers due to semiconductor supply issues, sales growth was driven by increased sales of electrification parts following the expansion of eco-friendly vehicle production and increased supply of high value-added core parts for mid-to-large and sports utility vehicle (SUV) models.

Hyundai Mobis disclosed this information through an electronic disclosure on the 22nd.

Sales of modules and core parts reached 9.8701 trillion KRW, up 19.3% compared to the same period last year. Among these, sales of electrification parts amounted to 2.1011 trillion KRW, a 54% increase from the same period last year. As production of eco-friendly vehicles such as hybrid and electric cars increased, Hyundai Mobis continues to see rising sales of core electrification parts including drive systems and battery systems supplied to these vehicles.

Although sales performed well despite uncertain business conditions, operating profit showed a decline. The rise in semiconductor prices and ongoing transportation cost burdens affected the decrease in operating profit.

A Hyundai Mobis official stated, “We expect difficult business conditions to continue in the second half due to the resurgence of COVID-19 and burdens from raw material and transportation costs. We will continue aggressive order acquisition activities to secure profitability and further strengthen our research and development capabilities to secure future competitiveness.”

Meanwhile, despite rapidly changing internal and external business environments, Hyundai Mobis achieved remarkable results in securing core parts orders from overseas automakers through the first half of this year. The order performance for the first half reached 2.57 billion USD, achieving 70% of the annual order target of 3.75 billion USD within just two quarters. Hyundai Mobis plans to actively target global customers in Europe, North America, and Asia in the second half of this year based on its core parts portfolio including electronics, lamps, and electrification.

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