Hyundai Mobis Q3 profit rises 17% on EV parts

by Kim Dong-young Posted : October 30, 2026, 10:24Updated : October 30, 2026, 10:24
Hyundai Mobis plant in Gyeongju Courtesy of Hyundai Motor Group
Hyundai Mobis plant in Gyeongju/ Courtesy of Hyundai Motor Group
 
SEOUL, October 30 (AJP) - Hyundai Mobis posted a 17 percent rise in third-quarter operating profit on Friday as more sales of electric vehicle parts in Europe lifted its parts-making business.

According to regulatory filings, South Korea's largest auto parts maker earned an operating profit of 914.1 billion won ($682.3 million) in the July to September quarter, up from 780.3 billion won a year earlier.

Its operating margin rose to 5.8 percent from 5.2 percent.

Revenue rose 4.6 percent from a year earlier to 15.72 trillion won.

Net profit fell 35.7 percent to 598.4 billion won, and net profit attributable to parent-company shareholders fell 35.7 percent to 597.9 billion won.

The module and core parts division, which supplies Hyundai Motor and Kia assembly lines, stayed in the black for a second straight quarter after a loss in the same quarter last year.

The company said sales of electrification parts rose as EV volumes grew in Europe, and its product mix improved.

The after-sales parts division, which sells replacement parts for vehicles already on the road, turned in solid results on higher global sales and a favorable exchange rate with lower tariff costs in some countries.

Hyundai Mobis said it will start producing prototype actuators at its Uiwang research center south of Seoul in November. The actuators are for Atlas, the humanoid robot made by group affiliate Boston Dynamics.

The company and its customer will test the parts' performance and reliability ahead of supply expected to begin in 2028.

The parts maker also plans to build up its technology for robot hand grippers, perception modules that let robots sense their surroundings, and controllers, so it can sell to more humanoid makers.

It will set up a new robotics parts organization and roughly double the staff assigned to the business.

"We expect annual research and development investment to exceed 2 trillion won for the first time by the end of this year," a Hyundai Mobis official said in a statement.

The company said it aims to win more global orders by strengthening its technology in electrification and vehicle electronics.

Shares of Hyundai Mobis traded at 338,500 won at 10:24 a.m., down 4.11 percent from the previous session.

AJP Takeaways

- Hyundai Mobis reported a preliminary third-quarter 2026 operating profit of 914.1 billion won on Oct. 30, 2026, up 17.2 percent from 780.3 billion won a year earlier, on revenue of 15.72 trillion won, up 4.6 percent.

- Net profit fell 35.7 percent from a year earlier to 598.4 billion won, and net profit attributable to parent-company shareholders fell 35.7 percent to 597.9 billion won.

- Hyundai Mobis will begin producing prototype actuators for Boston Dynamics' Atlas humanoid robot in November 2026 at its Uiwang research center, ahead of supply expected in 2028.