February 12, 2001
Record Profit Announced For Hyundai Motor In 2000
Announcing record profits for 2000 Hyundai Motor Company saw all aspects of its operations rise dramatically during the year.
HMC announced total earnings for the year of US $ 14.5 billion - an increase of 28 per cent over 1999 - and net income of US $ 530 million - more than 60 per cent up on last year.
With total unit sales up by 23 per cent from 1,232,755 to 1,513, 773 the earnings consisted of US $ 8.3 billion for domestic business - up by 29 per cent - and US $ 6.2 billion from exports, an increase of 26 per cent over 1999.
Ordinary profit almost doubled
Reflecting HMC`s improved operational profitability, the ordinary profit figure for 2000 of US $ 711 million was almost double the US $ 393 million performance of 1999.
The pre-tax income amounted to US $ 619 million - up by 58 per cent over the 1999 figure of US $ 393 million.
Commenting on the results, HMC Chairman Chung Mong-Koo said the record result had been made possible by the increased focus on shareholder value, the successful integration with Kia Motors and due the improved export sales performance. He added that HMC would continue to strengthen its financial position with ambitious targets for growth in 2001 despite slow-downs in many world markets.
HMC FINANCIAL RESULTS FOR 2000
| |
1999 |
2000 |
| Total Unit Sales |
1,232,755 |
1,513,773 |
| Domestic Sales |
594,977 |
692,694 |
| Exports |
637,778 |
821,079 |
| |
|
|
| Earnings |
11.8 billion |
14.5 billion |
| Domestic |
7.0 billion |
8.3 billion |
| Export |
4.8 billion |
6.2 billion |
| |
|
|
| Operating Income |
719 million |
1.04 billion |
| Ordinary Profit |
393.1 million |
711.60 million |
| Income before Tax |
393.1 million |
619.40 million |
| Net Income |
328.9 million |
530.00 million |
