The first quarter’s sales, operating profit, and net profit for Hyundai Motor were each reported as 37.7787 trillion won (US$28.2149 billion), 3.5927 trillion won (US$2.6832 billion), and 3.4194 trillion won (US$2.5538 billion), correspondingly. Earnings and operating profit both saw year-over-year increases of 24.7 and 86.7 percent, respectively.
The company’s operational profit is the highest it has ever been. For the initial period since the implementation of the IFRS in 2009, Hyundai Motor’s operational profit is set to surpass that of Samsung Electronics, which is expected to post an operating profit for the first quarter of 600 billion won.
Hyundai Motor had an operational profit-to-sales ratio of 9.5% in the first quarter. In 2022, the percentage was 6.9%. In the initial quarter of the current year, Hyundai Motor shipped 1,021,712 cars, increasing 13.2 percent from the same period last year. Its cost-to-sales ratio dropped by 1.3 percentage points to 79.6 percent from year to year.
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