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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Autoever made a 'surprise performance' in the second quarter following the first quarter of this year. Quarterly operating profit rose more than 80% from the previous year as both major SI (System Integration· system integration), ITO (IT outsourcing) and vehicle software (SW) businesses grew. The possibility of achieving the sales target of KRW 5 trillion in 2027 has increased.
Hyundai Autoever announced on the 31st that consolidated sales in the second quarter of this year were 753.9 billion won, up 19.6% from a year earlier. Operating profit rose 83.4 percent to 52.7 billion won and net profit rose 74.9 percent to 39 billion won during the same period.
The operating profit ratio for the second quarter was also 7.0%, well over the same period last year (4.6%). This performance also exceeds the stock market forecast (sales of KRW 727.5 billion and operating profit of KRW 37.9 billion) compiled by financial information provider FnGuide.
Sales by business sector rose 20.2% year-on-year to 347.6 billion won in the ITO sector. This accounted for the largest portion of sales with 46.1% of the total.
The operation role of Hyundai Motor Group to respond to digital transformation was mainly effective. It is the result of supplying IT (Information Technology) equipment such as PWS (Personal Research Equipment) for design analysis of Hyundai Mobis Research Institute and Hyundai Card Core Database (DB) upgrade infrastructure.
Sales in the SI division were 240.9 billion won. It expanded by 10.5% from the previous year due to big orders such as Hyundai Motor and Hyundai Rotem's establishment of next-generation enterprise resource management (ERP) and Hyundai Mobis' next-generation system.
Sales in the vehicle SW sector also rose 34.4% to 165.4 billion won in a year. The share of total sales also rose 2.4 percentage points from 19.5 percent last year. This is due to the increased installation rate of navigation SW and the improvement of the average selling price (ASP) mix due to the high specification of finished cars.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
