⋯ 13~14% of consolidated revenue growth and 5.5~6.5% annual consolidated operating profit margin
SEOUL, January 25, 2022 – Hyundai Motor Company today announced its business results for the fourth quarter of 2021. The company sold 3,890,726 units in 2021 around the global markets, up 3.9 percent from a year earlier. Annual revenue increased 13.1 percent from 2020 to KRW 117.6 trillion. The fourth-quarter revenue increased 6.1 percent year-over-year to KRW 31.03 trillion, paving the way for positive sales growth for 2022.
In the fourth quarter, the company sold 960,639 units around the globe in the October-December period, a 15.7 percent decrease from the year earlier. Sales in markets outside of Korea were down by 17.2 percent to 774,643 units as the global chip shortage hit most markets around the world. Sales in Korea decreased 8.9 percent to 185,996 units.
Hyundai’s operating profit in the fourth quarter climbed 21.9 percent from a year earlier to KRW 1.53 trillion, with the operating profit margin finishing at 4.9 percent. During this period, the company recorded a net profit (including non-controlling interest) of KRW 701.4 billion.
Robust sales of SUV and Genesis luxury models, and electric vehicles helped lift revenue in the fourth quarter despite the slowdown in sales volume amid an adverse economic environment.
In 2021, the company’s operating profit grew to KRW 6.68 trillion. Net profit (including non-controlling interest) was KRW 5.69 trillion.
Hyundai Motor today shared financial guidance with markets to enhance transparent communication. In 2022, the company guides for 13~14 percent of consolidated revenue growth and 5.5~6.5 percent annual consolidated operating profit margin. The company aims for total vehicle sales of over 4.3 million units this year.
The company plans to expand its investment total of KRW 9.2 trillion, including KRW 5.0 trillion at capital expenditure, KRW 3.6 trillion at research and development, and KRW 600 billion at strategic investments.
Hyundai increased its 2021 year-end dividend at KRW 4,000 per common share, up KRW 1,000 from 2020, reflecting its results improvement.
The company will continue to make efforts to secure its growth momentum, although there will be several uncertainties in the global automotive markets this year. Regarding the global chip shortage, Hyundai has been improved since December. However, the impact is expected to continue through the first quarter and gradually stabilize during the second quarter.
Hyundai will strengthen its EV lineup by launching GV60, Electrified GV70, and IONIQ 6 in line with increasing consumer preferences for eco-friendly models, expansion of investment in eco- infrastructure, and strict environmental regulations around the globe.
The company will focus on enhancing its product mix with SUV and luxury models and securing profitability based on cost innovation to become a leader in the future mobility industry despite the challenging business environment.
(Revenue / Operating Profit / Net Profit unit : Billion KRW)
|Vehicle Sales (Units)||960,639||△15.7%||3,890,726||3.9%||1,139,538||3,744,737|
|Rest of the world||774,155||△17.2%||3,163,888||7.0%||935,393||2,956,883|
* Net Profit includes non-controlling interest / * Under K-IFRS
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About Hyundai Motor Company
Established in 1967, Hyundai Motor Company offers a range of world-class vehicles and mobility services in more than 200 countries. Hyundai Motor sold more than 4.4 million vehicles globally in 2019, and currently employs some 120,000 personnel worldwide. The company is enhancing its product lineup with vehicles designed to help usher in a more sustainable future, while offering innovative solutions to real-world mobility challenges. Through the process Hyundai aims to facilitate ‘Progress for Humanity’ with smart mobility solutions that vitalize connections between people and provide quality time to its customers.
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