Hyundai Motor Company (005380) Q3 2025 earnings summary

Executive summary

• Achieved record-high Q3 revenue driven by strong global sales, especially in the U.S. and Europe, with significant growth in hybrid and SUV segments and a combined HEV & Genesis sales ratio at 21% for two consecutive quarters.

• U.S. market share reached 6.3%, with hybrid sales mix at 20.4% and eco-friendly vehicle sales up 16.4% year over year.

• Global wholesale and retail sales both reached 1.04 million units, up 2.6% and 4.8% year over year, respectively.

• Revenue for the nine months ended September 30, 2025, was W139.4 trillion, up from W128.6 trillion year-over-year, with net income of W9.18 trillion, down from W10.76 trillion in 2024.

• The group completed the sale of Hyundai Motor Manufacturing Rus LLC, with related losses classified as discontinued operations.

Financial highlights

• Consolidated Q3 revenue rose 8.8% year over year to KRW 46.7 trillion, with operating income down 29.2% to KRW 2.5 trillion and net income down 20.5% to KRW 2.5 trillion.

• EBITDA for Q3 was KRW 3,918 billion, down 19.3% year over year.

• Gross profit for the nine months was W26.37 trillion, nearly flat year-over-year.

• Automotive division revenue increased 7.9% year over year; finance division revenue grew 10.7% with operating profit up 32.4%.

• Basic EPS for common stock was W32,280 for the nine months, down from W39,051 in 2024.

Outlook and guidance

• Full-year 2025 guidance targets 5%-6% sales growth and 6%-7% operating margin.

• Management aims to strengthen U.S. market dominance through expanded HEV and EV offerings, particularly the new Palisade HEV.

• Strategic focus on high-margin models and eco-friendly vehicles in Europe and Korea to sustain growth.

• The group expects no material impact from Pillar Two tax legislation for 2025, but notes potential for change by year-end.

• Ongoing efforts to offset tariff impacts and strengthen fundamentals, with contingency plans in place.