Hyundai Wia (011210) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was KRW 6,475.9 billion, down 0.1% year-over-year, with operating profit at KRW 181.9 billion (2.8% margin) and net income at KRW 71.2 billion.

• Mobility segment sales declined slightly due to lower OEM sales, while defense exports boosted special segment revenue.

• The company completed the absorption merger of its turbo subsidiary in December 2023 to optimize production and management.

Financial highlights

• Operating profit margin was 2.8% for the period, with net profit margin at 1.1%.

• Cash and equivalents at period-end were KRW 749.7 billion; total assets were KRW 6,687.1 billion.

• R&D expenses for the period were KRW 62.3 billion, or 0.96% of sales.

• Dividend per share for 2023 was KRW 850, with a payout ratio of 24.8%.

Outlook and guidance

• The company is expanding its presence in EV and smart factory solutions, with ongoing investments in R&D and production capacity.

• The sale of the machine tool business is underway, with a binding MOU signed in October 2024.