Hyundai Motor Announces 2012 Business Results

Revenue rises 8.6%, net profit up 11.7% on increased sales, new models  Hyundai aims to sell 4.66 million units globally in 2013  ...

  • Revenue rises 8.6%, net profit up 11.7% on increased sales, new models 
  • Hyundai aims to sell 4.66 million units globally in 2013 


Seoul - Hyundai Motor Company, the fastest growing automaker brand, today announced its 2012 full year earnings results. In spite of the challenging business environment with fluctuating exchange rates, Hyundai managed to sustain its upward momentum. For the year 2012, sales revenue rose 8.6% to KRW84.47 trillion (automotive: 71.31 trillion, finance and others: 13.16 trillion) from a year earlier, helped by increased sales volume and improved product mix. Operating profit rose 5.1% to KRW8.44 trillion, while net profit increased 11.7% to KRW9.06 trillion (including non-controlling interest), fueled by robust performance at the company’s overseas plants and subsidiaries.

Hyundai sold 4 410 357 units globally (Korea: 667 496 / overseas: 3 742 861) in 2012, an 8.6% increase from a year earlier. While its sales in Korea fell 2.2% to 667 496 units from the previous year, its overseas sales rose 10.8% to 3 742 861 units (exports: 1 243 763 / overseas plants: 2 499 098). In particular, sales jumped more than 10% in Europe to 444 000 units, bucking the market’s trend of shrinking demand.
In the fourth quarter alone, sales revenue increased 10.7% to KRW22.72 trillion (automotive: 18.75 trillion / finance and others: 3.97 trillion) with global sales of 1 226 847 units. However, operating profit decreased 11.7% percent to 1.83 trillion won from a year earlier, mainly due to currency fluctuations unfavourable to Hyundai.

To overcome sluggish demand in the Korean domestic market, Hyundai aggressively expanded exports from Korea, while boosting sales in its overseas markets through its local production and sales network. Hyundai also enhanced its profitability through improved product mix and efficient marketing based on qualitative growth.

Hyundai forecasts that the global auto market, including some emerging markets, will face slowing demand amid fiercer competition and tougher government policies. Nevertheless, Hyundai aims to sell 4.66 million vehicles globally in 2013 (Korea: 668 000 / overseas: 3 992 000), a 5.7% increase from last year. Hyundai plans to achieve this through strengthening its fundamentals by promoting qualitative growth and securing future competitiveness, rather than quantitative growth.

This is a press release from Hyundai Global. 

Related

press release 4888933537153515663

Post a Comment

emo-but-icon

Subscribe

sponsored by

Hot in week

Connect With Us

item