Hyundai Wia (011210) Q2 2026 earnings summary

Executive summary

• Revenue grew 8.0% year-over-year and quarter-over-quarter to 2,353.7 billion KRW in 2Q26, driven by increased sales in modules, engines (notably in Mexico and China), TMS, and defense exports.

• Net income surged 192.1% year-over-year and 42.9% sequentially, reaching 50.6 billion KRW, supported by significant FX gains and improved product mix.

• Operating profit declined 10.6% year-over-year and 2.3% sequentially, with margin compression to 2.1% due to lower sales in 4WD/CVJ and mobility solutions, and adverse mix changes in Russia and China.

Financial highlights

• Revenue: 2,353.7 billion KRW (+8.0% YoY, +8.0% QoQ).

• Operating profit: 50.4 billion KRW (-10.6% YoY, -2.3% QoQ), margin at 2.1%.

• Net income: 50.6 billion KRW (+192.1% YoY, +42.9% QoQ), margin at 2.1%.

• Income before tax: 75.1 billion KRW (+289.9% YoY, +41.8% QoQ), driven by FX gains.

Outlook and guidance

• Growth in defense exports and module/TMS sales expected to continue.

• Anticipated challenges include volume decreases in Russia and product mix shifts in China.