Hyundai Mobis (A012330) Q4 2024 earnings summary

Executive summary

• 2024 4Q revenue rose 0.3% YoY to KRW 14.7 tn, with operating profit up 88.5% YoY to KRW 986 bn, driven by profitability improvements and strong A/S demand.

• Module/Core parts sales declined 2.6% YoY due to lower H/KIA volume and electrification mix changes, while A/S business sales grew 12.5% YoY.

• 2024 cumulative non-captive orders reached USD 2.56 bn (27.5% of target); 2025 target set at USD 7.44 bn.

• Shareholder return policy enhanced with increased dividends (KRW 6,000/share) and share buybacks/cancellations.

Financial highlights

• Net profit for 4Q24 was KRW 1,279 bn, up 96.3% YoY; operating margin improved to 6.7% from 3.6% YoY.

• Gross profit rose 26.6% YoY to KRW 2,313 bn; net margin increased to 8.7%.

• A/S business operating margin reached 26.0% in 4Q24.

Outlook and guidance

• 2025 non-captive order target set at USD 7.44 bn, a 189.9% increase over FY24 results.

• Mid- to long-term shareholder return policy (2025–2027) announced, aiming for TSR 30%+.