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Corporate information Hyundai Motor Announces 2021 4th Quarter Business Results

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Hyundai Motor Announces 2021 4th Quarter Business Results

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Corporate information 202201251430
Hyundai Motor Announces 2021 4th Quarter Business Results

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  • Hyundai sales increased 3.9% to 3,890,726 units in 2021
  • Annual revenue was up 13.1% to 117.6 trillion, and operating profit and net profit increased to 6.68 trillion and 5.69 trillion
  • 4Q revenue increased 6.1% Y/y to KRW 31.03 trillion
  • 4Q operating profit up 21.9 % to KRW 1.53 trillion; operating profit margin record 4.9%; net profit at KRW 701.4 billion
  • 4Q sales volume impacted by global chip shortage - 15.7% down versus 4Q 2020
  • The company to provide consolidated financial guidance to enhance transparent communication with markets
  • 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.


2022 Outlook


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)



20212020
4QYoY
YoY4Q
Vehicle Sales (Units)960,639△15.7%3,890,7263.9%1,139,5383,744,737

Korea185,996△8.9%726,838△7.8%204,190787,854

Rest of the world774,155△17.2%3,163,8887.0%935,3932,956,883
Revenue31,026.56.1%117,610.613.1%29,243.4103,997.7
Operating Profit1,529.721.9%6,678.9178.9%1,254.42,394.7
Net profit701.4△40.7%5,693.1195.8%1,183.41,924.6

* Net Profit includes non-controlling interest / * Under K-IFRS

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