Revenue rose 5.5 percent from a year earlier while operating profit climbed 3.3 percent, the company said in a regulatory filing on Friday. Net profit came in at 883.1 billion won.
The company attributed its growth to increase in shipments to overseas automakers and a favorable exchange rate bolstered the top line, with the aftermarket parts division riding sustained global demand.
The module and core-parts manufacturing segment, however, remained in the red despite a modest 4.9 percent revenue increase. Hyundai Mobis said the shortfall came with ramp-up costs at new European plants — a powertrain-electrification facility in Slovakia that began mass production this quarter and a battery-system assembly plant in Spain set to come online later this year — compounded by softer worldwide vehicle demand.
"Despite a challenging business environment, we plan to invest more than 2 trillion won in R&D this year for the first time, strengthening core competitiveness for the future mobility market," said a Hyundai Mobis spokesperson.
"With our customers set to launch a range of new models this year, we expect earnings to improve gradually alongside company-wide profitability initiatives."
Shares of Hyundai Mobis traded at 426,000 won per stock on 10:24 a.m., 3.73 percent lower than the day before.
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