Greatest in History
Hyundai Motor announced on April 25 that its Q1 sales, operating profit, and net profit are 37.7787 trillion won (US$28.2149 billion), 3.5927 trillion won (US$2.6832 billion), and 3.4194 trillion won (US$2.5538 billion), respectively. The sales and operating profit increased 24.7 percent and 86.7 percent year on year.
The operating profit is the largest in the company’s history. As Samsung Electronics’ Q1 operating profit is estimated at 600 billion won, Hyundai Motor’s operating profit is likely to exceed Samsung Electronics’ for the first time since the introduction of the IFRS in 2009.
In the first quarter, the operating profit-to-sales ratio of Hyundai Motor was 9.5 percent. The figure was 6.9 percent in 2022. Hyundai Motor sold 1,021,712 cars in the first quarter of this year, up 13.2 percent from a year ago. Its cost-to-sales ratio decreased 1.3 percentage points year on year to 79.6 percent.