Hyundai Mobis (A012330) Q1 2025 earnings summary

Executive summary

• 2025 1Q revenue rose 6.4% YoY to KRW 14.8 tn, driven by higher module/core parts and A/S sales despite a decrease in electrification revenue due to an accounting rule change.

• Operating profit surged 43.1% YoY to KRW 777 bn, mainly from robust A/S business and favorable FX, while module/core parts posted a loss due to fixed costs and quality provisions.

• Cumulative non-captive orders reached USD 2.1 bn, 28% of the 2025 target.

• Year-end dividend set at KRW 5,000/share, with total shareholder return (TSR) at 17.4% for FY24 and a target of 30%+ for FY25.

Financial highlights

• Sales: KRW 14.75 tn (+6.4% YoY, +0.3% QoQ).

• Operating profit: KRW 777 bn (+43.1% YoY, -21.2% QoQ), margin 5.3%.

• Net profit: KRW 1,032 bn (+19.6% YoY, -19.3% QoQ), margin 7.0%.

• Gross profit: KRW 2,062 bn (+27.4% YoY, -10.8% QoQ).

Outlook and guidance

• 2025 non-captive order target set at USD 7.4 bn, including USD 2.4 bn for electrification.

• Plan to attend major global events in 2025 to drive order growth.

• TSR target for FY25 is 30%+.