Q4 2024 Hyundai Motor Co Earnings Call Transcript
Key Points
- Hyundai Motor Co (HYMTF) reported a consolidated revenue increase of 11.9% year-over-year to KRW46.6 trillion.
- 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.
- Revenue from the finance division increased by 44.6% year-over-year, with operating profit rising by 79.1%.
- Hyundai Motor Co (HYMTF) achieved record high sales in 2024, amounting to KRW175.2 trillion, exceeding their sales growth guidance.
- The company plans to enhance its global financial market position by expanding business in Australia and launching a subsidiary in Indonesia.
- Global wholesale sales decreased by 2.2% year-over-year, with a notable decline in the domestic market by 4.6%.
- Operating income decreased by 17.2% year-over-year to KRW2.8 trillion, impacted by increased SG&A expenses and labor costs.
- The company faced a negative FX effect of KRW320 billion due to the depreciation of the Korean won.
- Hyundai Motor Co (HYMTF) experienced a significant increase in warranty provisions, impacting operating profit negatively.
- The company anticipates increased internal and external risks in 2025, including policy risks from the new US administration and tighter European fuel regulations.
Ladies and gentlemen, thank you for attending this conference call. We will now begin Hyundai Motor Company's business results conference call for the fourth quarter of 2024. Once again, the presentation materials can be downloaded from the Financial Supervisory Services Electronic Disclosure system fsse.or.kr or from our IR website www. Hyundai.com. .
Joining us at this conference call are Executive Vice President, Seung Jo Lee; Head of Planning and Finance Division, Executive Vice President, Zayong Ko; Head of IR Division, Vice President, Finance and Accounting subdivision, Michael Yun; the Head of IR Group and Senior Vice President; Seung Jo Lee, Head of Planning and Finance Division of Hyundai Capital.
We will first Hyundai Motor Company's presentation on the business results, followed by a Q&A session with the attending investors. (Operator Instructions)
Now we will proceed with the presentation by Michael Yun, the Head of IR Group at Hyundai Motor Company.
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