Hyundai Wia (011210) Q1 2026 earnings summary

Executive summary

• Sales rose 5.7% year-over-year and 4.3% sequentially to ₩2,179.3 billion in 1Q26.

• Operating profit increased 6.2% year-over-year and 8.1% sequentially to ₩51.6 billion.

• Net income dropped 65.1% year-over-year but more than doubled sequentially to ₩35.4 billion.

• Growth driven by higher module, 4WD, TMS, and defense sales, offset by FX losses and lower material sales.

Financial highlights

• Gross profit for 1Q26 was ₩137.4 billion, with a gross margin of 6.3%.

• Operating margin held steady at 2.4% in 1Q26.

• Net margin was 1.6% in 1Q26, down from 4.9% a year ago.

• Cash and cash equivalents increased by ₩19.39 billion from year-end 2025.

Outlook and guidance

• Continued focus on module, 4WD, TMS, and defense segments for growth.

• Initial ramp-up costs for TMS and lower utilization in Russia/Mexico expected to impact margins.