Hyundai Motor Quarterly results: Annual revenue up 7.7% to KRW 175.2 trillion, net profit rises 7.8%

Hyundai Motor Company has released its 2024 annual and Q4 business results, showcasing growth in revenue despite a decline in sales volume. The company also provided its 2025 outlook, targeting moderate growth and increased investment.

FY24 Highlights:

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  • Vehicle Sales: 4.14 million units, down 1.8% YoY.
  • Revenue: KRW 175.2 trillion, up 7.7% YoY.
  • Operating Profit: KRW 14.24 trillion, down 5.9%, with an 8.1% operating margin.
  • Net Profit: KRW 13.23 trillion, up 7.8% YoY.

Q4 FY24 Highlights:

  • Vehicle Sales: 1.06 million units, down 2.2% YoY.
  • Revenue: KRW 46.62 trillion, up 11.9% YoY.
  • Operating Profit: KRW 2.82 trillion, down 17.2%, with a 6.1% operating margin.
  • Net Profit: KRW 2.47 trillion, up 12.3% YoY.

Electrified Vehicles:

  • Q4 global electrified vehicle sales rose 21% YoY to 209,641 units, driven by strong North American demand.
  • FY24 electrified vehicle sales reached 757,191 units, up 8.9%, including 218,500 EVs and 496,780 hybrids.

Dividend and 2025 Outlook:

  • 2024 Dividend: Total payout of KRW 12,000 per share, reflecting a 5.3% increase.
  • 2025 Targets:
    • Revenue growth of 3-4%.
    • Operating profit margin of 7-8%.
    • Investment of KRW 16.9 trillion across capital expenditure, R&D, and strategic initiatives.

Hyundai remains focused on innovation, cost efficiency, and adapting to dynamic global mobility trends while addressing customer-specific needs across its product range.