Hyundai Motor Company ( (HYMLF) ) has released its Q4 earnings. Here is a breakdown of the information Hyundai Motor Company presented to its investors.
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Hyundai Motor Company, a leading South Korean automotive manufacturer, is known for its extensive range of vehicles including sedans, SUVs, and eco-friendly options, and operates globally in the automotive sector.
In its latest earnings report for the fourth quarter of 2024, Hyundai Motor Company reported a noteworthy increase in revenue driven by robust vehicle sales, particularly in China and the United States. However, the company experienced a decline in operating income compared to the same quarter in the previous year.
Hyundai Motor Company achieved a 5.2% increase in global sales, with a strong performance in China, posting a 13% year-over-year growth, and the US with an 8% increase. The company’s revenue for the fourth quarter rose by 11.9% year-over-year, reaching 46,624 billion KRW. The finance segment exhibited a remarkable 44.6% increase in revenue, although operating income saw a dip of 17.2%. Net income for the quarter grew by 12.3% despite pressures on operating profit margins.
For the full year, Hyundai’s revenue climbed by 7.7% to 175,231 billion KRW, driven by the finance segment’s 27% growth. Despite these gains, operating income fell by 5.9% year-over-year, reflecting increased costs and expenses, including a 17.2% rise in SG&A expenses.
Looking ahead, Hyundai Motor Company remains focused on expanding its market share and enhancing its product lineup, while navigating through economic fluctuations and competitive challenges to sustain growth and profitability.
