Unlike continued market concerns that Hyundai Motor’s second-quarter results would be lower than expected, its actual quarterly performance turned out to have met market expectations.
Hyundai Motor announced on July 23 that it sold 1,232,943 cars in the second quarter of this year, with the quarterly revenue and operating profit estimated at 22.82 trillion won and 1.75 trillion won, respectively.
Its operating profit-to-sales ratio stood at 7.7 percent, up 0.1 percentage point from a quarter ago. Year on year, sales rose 0.3 percent, but operating profit fell 16.1 percent. The market consensus for Hyundai Motor’s second-quarter revenue and operating profit was 22.87 trillion won and 1.75 trillion won.
For the first half of this year, Hyundai Motor sold 2,415,777 cars, generating sales revenue of 43.76 trillion won, operating profit of 3.33 trillion won, ordinary profit of 4.69 trillion won and net profit of 3.77 trillion won. Sales revenue, operating profit, and net profit each fell 1.4 percent, 17.1 percent, and 13.8 percent year on year.
