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Hyundai Motor announces 2016 1Q business results

Hyundai Motor sold 1.1 million units worldwide throughout 2016 first quarter  Sales revenue and operating profit stand at KRW 22.35 trillion and KRW 1.34 trillion, respectively Profits declined mainly due to economic recession in emerging markets such as Russia and Brazil  Hyundai Motor foresees recovered figures in 2Q by boosting sales of newly launched models … Continued

  • Hyundai Motor sold 1.1 million units worldwide throughout 2016 first quarter 
  • Sales revenue and operating profit stand at KRW 22.35 trillion and KRW 1.34 trillion, respectively
  • Profits declined mainly due to economic recession in emerging markets such as Russia and Brazil 
  • Hyundai Motor foresees recovered figures in 2Q by boosting sales of newly launched models as well as SUVs in global markets

Hyundai Motor Company, South Korea’s largest automaker, today announced its 2016 1Q business results. Sales volume and operating profit decreased whilst sales revenue increased from the same period last year, mainly due to slowing plant operations that increased fixed costs ratios, and weak cross currencies against KRW in emerging markets such as Russia and Brazil.

Forecast
Hyundai Motor forecasts sales increase in 2Q despite sluggish economy in emerging markets such as Russia and Brazil as markets including the U.S. and China will post strong sales with the All-new Elantra and SUV models.

In addition, Hyundai Motor will continue its efforts in establishing sustainable growth with R&D investment to develop autonomous driving technology and connected-car development as well as securing eco-friendly technology leadership.Hyundai Motor aims to sell a total of 5.01 million vehicles globally (Korea: 693,000 / overseas: 4,317,000) in 2016. It plans to achieve its goal with SUVs including Creta and Tucson and new models like All-new Elantra. In addition, Hyundai Motor will further develop state-of-the-art technologies within new models such as the IONIQ which is offered in three eco-friendly powertrain (HEV, PHEV, EV) and luxury brand GENESIS G90 large luxury sedan.

Hyundai Motor will continue strengthening its cooperation with suppliers and actively carry out Corporate Social Responsibilities to create more values to customers and stakeholders alike. Hyundai Motor also strives to build a more shareholder-friendly environment by increasing transparency and shareholder returns through establishing corporate governance charter.

※ IFRS
Hyundai Motor Company 2016 1Q Business Results
(Currency: 1 billion KRW)
2016 2015 2016 1Q vs 2015 4Q
1Q   4Q   Change
% %
Sales Volume
(units)
1,107,377 100% 1,425,450 units 100% (318,073) -22.3%
Korea 160,577 14.5% 214,446 units 15.0% (53,869) -25.1%
Overseas 946,800 85.5% 1,211,004 units 85.0% (264,204) -21.8%
Sales Revenue 22,351 100% 24,765 100% (2,414) -9.7%
Gross Profit 4,239 19.0% 4,719 19.1% (480) -10.2%
Operating Profit 1,342 6.0% 1,515 6.1% (173) -11.4%
Recurring Profit 2,163 9.7% 2,063 8.3% 100 4.9%
Net Profit 1,768 7.9% 1,529 6.2% 239 15.6%
2016 2015 2016 1Q vs 2015 1Q
1Q   1Q   Change
% %
Sales Volume
(units)
1,107,377 100% 1,182,834 units 100% (75,457) -6.4%
Korea 160,577 14.5% 154,802 units 13.1% 5,775 3.7%
Overseas 946,800 85.5% 1,028,032 units 86.9% (81,232) -7.9%
Sales Revenue 22,351 100% 20,943 100% 1,408 6.7%
Gross Profit 4,239 19.0% 4,332 20.7% (93) -2.1%
Operating Profit 1,342 6.0% 1,588 7.6% (246) -15.5%
Recurring Profit 2,163 9.7% 2,321 11.1% (158) -6.8%
Net Profit 1,768 7.9% 1,983 9.5% (215) -10.8%

 

https://www.automotiveworld.com/news-releases/hyundai-motor-announces-2016-1q-business-results/

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