In This Article:
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Wholesale Sales: Decreased by 2.2% year-over-year to 1,066,239 units in Q4 2024.
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Retail Sales: Decreased by 0.8% year-over-year to 1,075,434 units in Q4 2024.
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Consolidated Revenue: Increased by 11.9% year-over-year to KRW46.6 trillion in Q4 2024.
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Operating Income: Decreased by 17.2% year-over-year to KRW2.8 trillion in Q4 2024.
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Net Income: Increased by 12.3% year-over-year to KRW2.5 trillion in Q4 2024.
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Annual Consolidated Revenue: Increased by 7.7% year-over-year to KRW175.2 trillion in 2024.
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Annual Operating Income: Decreased by 5.9% year-over-year to KRW14.2 trillion in 2024.
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Annual Net Income: Increased by 7.8% year-over-year to KRW13.2 trillion in 2024.
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Finance Division Revenue: Increased by 44.6% year-over-year in Q4 2024.
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Finance Division Operating Profit: Increased by 79.1% year-over-year in Q4 2024.
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SG&A Expenses: Increased by 26.7% to KRW6.3 trillion in Q4 2024.
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Dividend: Final dividend of KRW6,000, with an annual dividend per share of KRW12,000 for 2024.
Release Date: January 23, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Hyundai Motor Co (HYMTF) reported a consolidated revenue increase of 11.9% year-over-year to KRW46.6 trillion.
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The company saw a strong increase in hybrid vehicle sales, with a 60.6% growth in the US market and a 31.3% increase in Europe.
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Revenue from the finance division increased by 44.6% year-over-year, with operating profit rising by 79.1%.
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Hyundai Motor Co (HYMTF) achieved record high sales in 2024, amounting to KRW175.2 trillion, exceeding their sales growth guidance.
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The company plans to enhance its global financial market position by expanding business in Australia and launching a subsidiary in Indonesia.
Negative Points
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Global wholesale sales decreased by 2.2% year-over-year, with a notable decline in the domestic market by 4.6%.
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Operating income decreased by 17.2% year-over-year to KRW2.8 trillion, impacted by increased SG&A expenses and labor costs.
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The company faced a negative FX effect of KRW320 billion due to the depreciation of the Korean won.
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Hyundai Motor Co (HYMTF) experienced a significant increase in warranty provisions, impacting operating profit negatively.
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The company anticipates increased internal and external risks in 2025, including policy risks from the new US administration and tighter European fuel regulations.
Q & A Highlights
Q: Can you provide insights into the 2025 guidance, including assumptions on foreign exchange rates and product mix? A: We expect a volume increase to 4.17 million units, with a slight market share increase. The EV volume is projected to rise by 53.7%, and HEV by 3.2%. The financial sector will remain stable, while other areas may see increased profitability. The FX rate was set at KRW1,300 per dollar during volatile times, and we plan to maintain differential rates for common and preferential stock buybacks. Collaboration with GM is ongoing, with plans for joint purchases and rebadging of EV commercial vehicles.