Hyundai Motor Announces 2013 3Q Business Results
• Hyundai Motor sells 3.5 million units worldwide through 2013 third quarter
• Sales revenue and net profit stand at 65.37 trillion won and 6.86 trillion won
Hyundai Motor Company, South Korea’s largest automaker, today announced its 2013 3Q business results. The company sold a total of 3,500,022 units worldwide in the first nine months of the year, up 9.9 percent compared to the same period last year, while its sales revenue also increased 5.9 percent.
Hyundai Motor’s sales in Korea decreased 0.6 percent to 478,718 units due to lower consumer spending and production, while the company sold 3,021,304 units in markets outside Korea (Export: 845,611 / Overseas plants: 2,175,693), up 11.8 percent compared to the same period last year.
For the first nine months of 2013, sales revenue rose 5.9 percent to 65.37 trillion won (Auto: 53.77 trillion / Finance and others: 11.60 trillion) from a year earlier, thanks to strong overseas sales. However, operating profit and net profit fell 4.9 percent and 4.2 percent to 6.29 trillion won and 6.86 trillion won (including non-controlling interest), respectively, mainly due to the lower operation rate at its Korean plants and one-time provisions during the first quarter.
In the third quarter alone, sales revenue increased 6.0 percent to 20.82 trillion won (Auto: 17.05 trillion / Finance and others: 3.76 trillion) with global sales of 1,109,205 units. Both operating profit and net profit also rose 1.7 percent and 4.0 percent to 2.01 trillion won and 2.25 trillion won from a year earlier.
Despite a slight decrease in profits, Hyundai Motor remains to be one of the most profitable automakers in the industry. For the fourth quarter, Hyundai Motor will continue to improve quality competitiveness and reinforce its brand image amid a challenging market environment in both major and emerging auto markets.
In particular, Hyundai Motor will further strengthen and expand its ‘Modern Premium’ values to include areas such as product development, design, marketing, sales and after sales services.
As a result of its continued efforts at brand management, Hyundai Motor’s brand value surged 20.5 percent from a year earlier to $9 billion, acquiring its highest-ever ranking of No. 43 in brand consultancy Interbrand’s 2013 Best 100 Global Brands.
The all-new Genesis, scheduled to make its world debut in Korea later this year, is also expected to enhance both brand value and profitability.
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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