KG Mobility Achieves Quarterly Operating and Net Profit Surplus Simultaneously for the First Time in 10 Years

KG Mobility has continued its streak of profitability for three consecutive quarters this year. In the third quarter, KG Mobility recorded positive operating profit and net income. This marks the first time in 10 years, since the third quarter of 2013, that KG Mobility has posted simultaneous operating and net profits.

On the 27th, KG Mobility announced that in the third quarter it achieved ▲sales of 31,254 units ▲revenue of 904.7 billion KRW ▲operating profit of 14.3 billion KRW ▲net income of 12.5 billion KRW. These results were driven by increased global sales volume, including the overseas expansion of improved models such as Torres and Rexton Sports & Khan.

Third-quarter sales totaled 31,254 units, with 12,015 units sold domestically and 19,239 units exported. Although domestic sales slightly declined compared to the previous year due to reduced consumer spending, exports reached the highest quarterly sales in nine years since the second quarter of 2014 (2,126 units).

KG Mobility Torres EVX

To maintain its improving performance, KG Mobility launched special models such as the Torres Van and the mid-size electric sport utility vehicle (SUV) Torres EVX in September. Additionally, to boost export volumes, the company is expanding global new product launches, including the launch of Torres in the European market and test drive events targeting Africa, the Middle East, and CIS regions.

KG Mobility stated, "Given the high market expectations for the Torres EVX launched last September, we will expand sales and improve our financial structure through aggressive marketing strategies both domestically and overseas."

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