Jan. 23, 2014 - Hyundai Motor Company, the fastest-growing automaker by brand, today announced its 2013 full-year earnings results. The company[s revenue rose on increased sales from its overseas markets, while profits fell slightly due to production losses and sluggish sales in Korea and fluctuations in currency exchange rates.
Hyundai Motor Announces 2013 Business Results
- Hyundai posts revenue of 87.3 trillion won, net profit of 8.99 trillion won
- Hyundai aims to sell 4.9 million units globally in 2014
For the year 2013, sales revenue rose 3.4 percent to 87.3 trillion won (automotive: 71.54 trillion / finance and other: 15.77 trillion) from a year earlier, helped by increased sales volume in overseas markets. Operating profit fell 1.5 percent to 8.32 trillion won and net profit fell 0.7 percent to 8.99 trillion won (including non-controlling interest).
Hyundai sold 4,732,366 units globally (Korea: 640,698 / overseas: 4,091,668) in 2013, a 7.3 percent increase from a year earlier. While its sales in Korea fell 4.0 percent to 640,698 units from the previous year, its overseas sales rose 9.3 percent to 4,091,668 units (exports: 1,179,447 / overseas plants: 2,912,221).
In the fourth quarter alone, sales revenue decreased 3.4 percent to 21.94 trillion won (automotive: 17.76 trillion / finance and other: 4.18 trillion) with global sales of 1,232,344 units. However, operating profit increased 10.8 percent to 2.03 trillion won from a year earlier.
Hyundai forecast that both domestic and overseas markets - advanced and emerging alike - are poised to generate sluggish demand. As a result, the company plans to focus on strengthening its fundamentals and securing future competitiveness such as boosting fuel efficiency and developing so-called smart cars that combine clean energy and advanced technologies.
Hyundai aims to sell 4.9 million vehicles globally in 2014 (Korea: 682,000 / overseas: 4,218,000), a 3.6 percent increase from last year. In order to achieve this, Hyundai plans to
maximize efficiencies at its overseas manufacturing bases to increase global sales, while launching new models such as the all-new Genesis and next-generation Sonata.
Cautionary Statement with Respect to Forward-Looking Statements
In this release and in related comments by Hyundai Motor[s management, our use of the word "expect," "anticipate," "project," "estimate," "forecast," "objective," "plan," "goal," "outlook," "target," "pursue" and similar expressions is intended to identify forward looking statements.
The financial data discussed herein are presented on a preliminary basis before the audit from Independent Auditor final data will be included in HMC[s Independent auditors report. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, actual results may differ materially due to numerous important factors. Such factors include, among others, the following : change in economic conditions, currency exchange rates or political stability shortages of fuel, labor strikes or work stoppages market acceptance of the corporation[s new products significant changes in the competitive environment changes in laws, regulations and tax rates and the ability of the corporation to achieve reductions in cost and employment levels to realize production efficiencies and implement capital expenditures at levels and time planned by management.
We do not intend or assume any obligation to update any forward-looking statement, which speaks only as of the date on which it is made.
About Hyundai Motor
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond. The company, which leads the Hyundai Motor Group, an innovative business structure capable of circulating resources from molten iron to finished cars, offers top-quality best-sellers such as Elantra, Sonata and Genesis. Hyundai Motor has seven manufacturing bases and seven design & technical centers outside of South Korea and in 2013, sold 4.73 million vehicles globally. With over 90,000 employees worldwide, Hyundai Motor continues to enhance its product line-up with localized models and strives to strengthen its leadership in clean technology, starting with the world[s first mass-produced hydrogen-powered vehicle, ix35 Fuel Cell.
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