• Global sales of 1.20 million units in the fourth quarter of 2019
• 2019 fourth-quarter revenue rose to KRW 27.87 trillion, up 10.5% Y/y
• 2019 fourth-quarter operating profit increased to KRW 1.24 trillion, with net profit reaching KRW 851.2 billion
• Company targets 2020 sales of 4.58 million units, operating profit margin at 5%
SEOUL, January 22, 2020 – Hyundai Motor Company today announced its business results for the fourth quarter of 2019, reporting a positive revenue growth led by enhanced product mix.
Fourth-quarter sales revenue rose to KRW 27.87 trillion compared with KRW 25.23 trillion a year earlier as strengthened product mix with increased SUV sales offsetting the decline in sales volume.
The company sold 1.2 million vehicles around the globe in the October-December period, 2.5 percent lower than the fourth quarter 2018 results amid sluggish industry demand in markets such as China and India. Total sales in markets other than Korea dropped by 2.9 percent to 1,001,452 units and sales in Korea slid 0.4 percent from the fourth-quarter of 2018 at 194,407 units.
Operating income, however, more than doubled year-over-year to KRW 1.24 trillion from KRW 501.1 billion a year earlier helped by company’s various cost innovation efforts coupled with favorable currency environment. The company posted a net profit (including non-controlling interest) of KRW 851.2 billion, turning from a net loss of 203.3 billion previous year. Enhanced product mix with a higher ratio of SUV sales and continued new model momentum from popular models like Palisade SUV and all-new Grandeur (Azera) contributed to the improvement.
In 2019, Hyundai Motor sold a total of 4.43 million units worldwide, compared with 4.59 million units in 2018. Full-year revenue totaled KRW 105.79 trillion, a 9.3 percent increase from the previous year and operating profit jumped 52 percent from a year earlier to KRW 3.68 trillion. Net profit (including non-controlling interest) nearly doubled to KRW 3.26 trillion from KRW 1.65 trillion.
Despite the uncertain business environment, Hyundai Motor targets 2020 annual sales at 4.58 million units, including 732,000 units in Korea and 3.84 million units across the rest of the world. The company also targets to achieve a 5 percent operating profit margin with the strengthened product mix of exciting new models of the company’s best-selling Avante (Elantra) and Tucson SUV, along with Genesis luxury brand’s new GV80 SUV, along with various internal efforts to boost operational efficiency and cost innovation.
Hyundai Motor is accelerating its transition into a Smart Mobility Solution Provider and secure its position as a game changer in the future mobility industry while striving for balance between investment for future growth and increase of shareholder value with improved profitability. The company plans to maintain its 2019 year-end dividend at KRW 3,000 a share, the same level as in 2018.
(Revenue / Operating Profit / Net Profit unit : 100 million KRW)
|Rest of the world||1,031,189||3,868,121||1,001,452||3,683,686|
|Revenue||252,305 ||968,126||278,681 ||1,057,904 |
|Operating Profit|| 5,011 || 24,222 || 12,436 || 36,847 |
|Net profit||-2,033 || 16,450 ||8,512 || 32,648 |
* Net Profit includes non-controlling interest
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About Hyundai Motor Company
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond with its range of world-class vehicles and mobility services offered available in more than 200 countries. Employing more than 110,000 employees worldwide, Hyundai sold more than 4.5 million vehicles globally. Hyundai Motor continues to enhance its product line-up with vehicles that are helping to build solutions for a more sustainable future, such as NEXO – the world’s first dedicated hydrogen-powered SUV.
More information about Hyundai Motor Company and its products can be found at: http://worldwide.hyundai.com or http://globalpr.hyundai.com
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