Hyundai Wia Reports 3rd Quarter Operating Profit of 54.7 Billion Won, Up 5.5% Year-on-Year

Hyundai Wia reported strong performance driven by increased engine supply.
 
The company announced on October 30 that it recorded sales of 2.459 trillion won and an operating profit of 54.7 billion won in the third quarter of this year. Sales increased by 14.3% compared to the same period last year (2.1519 trillion won), while operating profit rose from 51.8 billion won, marking a 5.5% increase.
 
Sales growth was supported by strong performance across various business segments. Module sales increased by 18% compared to the same period last year. The rise in engine supply in both Korea and Mexico drove growth in automotive parts sales.
 
The thermal management segment also saw a significant increase, with sales expanding by 160% year-on-year due to higher demand for air conditioning units. Together with the module and engine segments, the overall mobility division's sales reached 2.2884 trillion won, a 15.1% increase from the same period last year.
 
Despite challenges such as changes in product mix and rising material and logistics costs, operating profit increased compared to the same period last year on a continuing operations basis.
 
A Hyundai Wia representative stated, "We plan to restructure our business portfolio towards future mobility through the sale of our special business division, focusing our resources and management capabilities on core mobility components and growth areas such as thermal management and robotics."
 
Meanwhile, Hyundai Wia aims to strengthen its long-term growth foundation by investing approximately 1.8 trillion won in research and development, about 1 trillion won in expanding global production bases, and around 900 billion won in fostering new businesses by 2035.