Hyundai Motor Securities (001500) Q2 2024 earnings summary

Executive summary

• For the first half of 2024, net income was ₩25.2 billion, down 53% year-over-year, with operating income at ₩30.2 billion and revenue at ₩909.4 billion.

• Segment results: Asset management contributed most to profit, while IB posted a loss before tax.

• The company maintained a strong capital position with a net capital ratio of 486.04%.

Financial highlights

• Revenue for H1 2024 was ₩909.4 billion, down from ₩1,582.2 billion in FY2023.

• Net income for H1 2024 was ₩25.2 billion, compared to ₩53.5 billion in H1 2023.

• Operating income for H1 2024 was ₩30.2 billion, down from ₩65.2 billion in H1 2023.

• EPS for H1 2024 was ₩747 (basic), down from ₩1,595 in H1 2023.

• Dividend payout for H1 2024 was ₩15.6 billion.

Outlook and guidance

• The company expects stable fee income from brokerage and asset management, but IB and PF-related earnings remain under pressure due to real estate and overseas exposure risks.

• Focus remains on risk management, liquidity, and digital transformation for future growth.