Hyundai Motor Announces 2013 1H Business Results
- Hyundai Motor sells 2.39 million units worldwide in the first half of 2013
- Sales revenue and net profit stand at 44.55 trillion won and 4.61 trillion won
July 25, 2013 - Hyundai Motor Company today announced 2013 first half earning results. Despite various unfavorable internal and external factors, the company’s continuing sales growth in the overseas markets led to a 5.8 percent increase in sales revenue, compared to the same period last year.
For the first six months of 2013, sales revenue rose 5.8 percent to 44.55 trillion won (auto: 36.72 trillion / finance and others: 7.83 trillion) from a year earlier, thanks to strong sales outside Korea. However, operating profit and net profit fell 7.7 percent and 7.8 percent to 4.28 trillion won and 4.61 trillion won (including non-controlling interest), respectively, mainly because of the lower operation rate at its Korean plants and one-time provisions occurred during the first quarter.
Hyundai Motor sold 2,390,919 units globally (Korea: 325,518 / overseas: 2,065,401) during the first half of this year, a 9.5 percent increase from a year earlier. In Korea, Hyundai Motor’s sales fell 0.7 percent from the same period a year ago, affected by weak demand and growing sales of imported brands. On the other hand, its overseas sales rose 11.4 percent to 2,065,401 units, more than offsetting the decline in the domestic market.
In the second quarter alone, sales revenue increased 5.7 percent to 23.18 trillion won with global sales of 1,219,115 units. However, both operating profit and net profit decreased 5.2 percent and 1.0% to 2.40 trillion won and 2.52 trillion won from a year earlier.
Hyundai Motor forecasts that uncertainties surrounding the global auto industry will remain for the second half. In particular, major auto markets, including some emerging markets, will keep posting slower growth amid fiercer competition and tougher government policies.
Nevertheless, Hyundai Motor plans to continue its efforts to strengthen fundamentals through qualitative growth for different regions. To do so, Hyundai Motor plans to launch strategic models, reinforce sales and service networks, as well as carry out aggressive marketing activities.
The company will also strengthen its eco-friendly car line up, including electric vehicles, hybrid cars, fuel cell electric vehicles as well as conventional vehicles with high fuel efficiency and low emissions, establishing solid ground for growth.
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.
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About Hyundai Motor
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Motor Group, with more than two dozen auto-related subsidiaries and affiliates. Hyundai Motor - which has seven manufacturing bases outside of South Korea including Brazil, China, the Czech Republic, India, Russia, Turkey and the U.S. - sold 4.4 million vehicles globally in 2012. Hyundai Motor, which employs over 90,000 worldwide, offers a full line-up of products including small to large passenger vehicles, SUVs and commercial vehicles. Further information about Hyundai Motor and its products is available at http://worldwide.hyundai.com and www.hyundaiglobalnews.com.
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