Hyundai Motor Announces 2018 1H Business Results
- Global sales total 2.24 million units
SEOUL, July 26, 2018— Hyundai Motor Company announced its 2018 first half business results today in Seoul.
In the first half of 2018, Hyundai Motor’s sales totalled 2.24 million units, a rise of 4.5 percent from the same period last year. Favourable sales in major regions and continued sales momentum of new SUV models like Santa Fe, Kona were the reasons for the increase.
The company posted first half revenue of KRW 47.15 trillion compared to KRW 47.67 trillion in the same period of 2017. Stronger KRW against major currencies and weak currency values in emerging economies weighed on the result.
First half operating profit totalled KRW 1.63 trillion, representing a 37.1 percent decrease from a year earlier, while the company posted a net profit of KRW 1.54 trillion, 33.5 percent lower compared to the same period in 2017. Profitability weakened largely due to unfavourable currency environment and increased fixed costs.In the second quarter, Hyundai sales totalled 1.19 million units, posting revenue of KRW 24.71 trillion. Operating profit totalled KRW 950.8 billion.
While uncertainty in the global business environment is likely to continue for the time being, Hyundai Motor will continue strengthening its product competitiveness in the global market as well as build a strong foundation for sustainable growth.
The company plans to improve its product mix with the launch of a variety of strategic models, with stronger focus on expanding production and sales of SUV models. The company will also strengthen its overall research and development capabilities to introduce new mobility services and take leadership in future automotive market.
Hyundai Motor Company 2018 1H Business Results (IFRS)
A. The above 2018 results are preliminary consolidated business results under “Korean International Financial Reporting Standards (K-IFRS)”
B. The above results are preliminary and unaudited. Figures are subject to change after official audit.
C. The above sales volumes are based on wholesales.
D. For further information, please refer to the company website (http://worldwide.hyundai.com)
Presentation material is available for download on the Company IR website – IR Calendar (http://worldwide.hyundai.com)
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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.
Hyundai Motor Company believes the information contained herein to be accurate at the time of release. However, the company may upload new or updated information if required and assumes that it is not liable for the accuracy of any information interpreted and used by the reader.
Global PR Team / Hyundai Motor
+82 2 3464 2128