Hyundai Mobis Records "All-Time High" Q2 Sales of 15.6849 Trillion Won

27.4%↑ YoY
Operating Profit of 663.8 Billion KRW Also Increased 64.6% Compared to Last Year

Hyundai Mobis announced on the 27th that it achieved sales of KRW 15.6849 trillion and an operating profit of KRW 663.8 billion in the second quarter. Compared to the same period last year, these figures represent increases of 27.4% and 64.6%, respectively. The sales figure is the largest ever recorded for a single quarter.

The company attributed the performance to increased supply of core parts driven by expanded vehicle production, growth in electrification volume, and a higher proportion of sports utility vehicles (SUVs). The strong operating profit was supported by robust global demand in the A/S business, lower logistics costs, and increased vehicle production.

By segment, sales of modules and core parts reached KRW 12.9878 trillion, up 31.6% from the second quarter of last year. Among these, the electrification segment recorded sales of KRW 3.7436 trillion, fueled by continuous growth. Sales in the A/S segment also increased by 10.6% year-on-year to KRW 2.6971 trillion, driven by expanded demand in North America, India, and other regions.

2023 Q2 Performance
[Photo by Hyundai Mobis]

The company expects to maintain strong performance in the second half of the year through various plans. Non-captive orders targeting global customers are progressing smoothly. Up to the first half of this year, Hyundai Mobis secured core parts orders worth a total of USD 2.71 billion (approximately KRW 3.5 trillion) from global automakers excluding Hyundai Motor and Kia. This accounts for 51% of the annual target order amount of USD 5.36 billion. In the second quarter, the company also secured new orders for high value-added parts such as autonomous driving sensors and infotainment new products.

2023 First Half Performance
[Photo by Hyundai Mobis]

The company also revealed plans to expand bases for building a global electrification value chain. Currently, it operates a total of nine electrification production bases domestically and overseas. Six new bases are being established in North America (Georgia and Alabama) and Indonesia. Additionally, it is considering establishing bases in Europe and India to expand supply of battery systems and PE modules, which are electric vehicle drive components.

A Hyundai Mobis official stated, “Along with profit improvement activities such as reflecting cost increases in sales prices, we will continuously pursue efforts to secure future growth engines through research and development investment and facility expansion.”

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