On the 26th, Hyundai Mobis announced that it achieved sales of 14.667 trillion won, operating profit of 418.1 billion won, and net profit of 841.8 billion won in the first quarter of this year. Compared to the same period last year, sales increased by 29.7%, while operating profit and net profit rose by 8.1% and 61.6%, respectively.
The rise in sales was driven by the easing global semiconductor supply issues and an expansion in the production and supply of modules and core components. The substantial increase in the production of electrification components for eco-friendly vehicles and the expanded supply of high-value core components for mid-size, large, and SUV vehicles contributed significantly to this sales growth.
Operating profit also continued to rise compared to the same period last year, thanks to easing logistics cost burdens and increased global demand for the service parts business.
Specifically, sales of electrification components reached 3.3269 trillion won, marking a staggering 76.4% increase compared to the same period last year. With the increased production of global eco-friendly vehicles like hybrid cars and electric vehicles, the supply and sales of Hyundai Mobis’s key electrification components, such as PE systems and battery systems, are expected to steadily expand.
Sales of core components were recorded at 2.5261 trillion won (an increase of 21.1%), while module products reached sales of 6.1833 trillion won (an increase of 24.0%). Additionally, the service parts business achieved sales of 2.6307 trillion won (an increase of 11.8%) due to sustained strong demand in major global markets.
Hyundai Mobis stated that, based on the competitiveness of core component quality and a diverse product portfolio, it aims to achieve an overseas order target for complete vehicles worth $5.36 billion this year, while aggressively pursuing orders to simultaneously strengthen profitability and product competitiveness.
A representative from Hyundai Mobis explained, “We will strive to maximize shareholder value through a balance of various shareholder return policies, including a stock buyback and cancellation plan worth 150 billion won, in conjunction with proactive investments for future growth.”
Lee Sang-jin daedusj@autodiary.kr