Hyundai Mobis’ Q1 net profit slips 4.2% y/y to USD709.6 million

News
Financial results

Korean supplier attributed strong won and lower demand from China for underperformance in the first quarter

Hyundai Mobis has reported a 4.2% year-over-year (y/y) decline in net income to KRW762 billion (USD709.6 million as on 31 March 2017) for the first quarter ended 31 March 2017, the leading South Korean automotive supplier by sales said in a regulatory filing. The company also witnessed 6.9% y/y drop in operating profit to KRW669 billion, resulting in a 50 basis points decline in operating margin to 7.2%. Hyundai Mobis recorded lower net profit and operating profit as sales slip marginally, by 0.8% y/y, to KRW9.26 trillion.

Thank you for visiting S&P Global AutoTechInsight.

*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.

To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.

Already a subscriber? Please log in here

preload preload preload preload preload preload