Hyundai Motor Securities (A001500) Q3 2024 earnings summary

Executive summary

• For the nine months ended September 30, 2024, total assets increased to ₩11,944.5 billion from ₩10,972.5 billion at the end of 2023, with net income of ₩37.3 billion, down from ₩56.5 billion year-over-year.

• Revenue for the nine-month period was ₩1,141.5 billion, slightly up from ₩1,132.2 billion in the prior year, while operating income reached ₩49.1 billion, down from ₩68.9 billion.

• The review report found no material misstatements in the financial statements as of September 30, 2024.

Financial highlights

• Net income for the nine months was ₩37.3 billion, a 34% decrease year-over-year; quarterly net income was ₩14.3 billion.

• Total assets rose 8.9% from year-end 2023, while total liabilities increased to ₩10,651.4 billion.

• Basic EPS for the nine months was ₩1,107, down from ₩1,712 in the prior year; diluted EPS was ₩963.

• Cash and cash equivalents at period-end were ₩649.7 billion, down from ₩830.4 billion at the start of the year.

Outlook and guidance

• The company continues to apply new and revised accounting standards, with no significant impact on financials.

• Management notes that events after the reporting date could affect the financial statements.