Hyundai Wia (011210) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue rose 14.3% YoY to KRW 2.459tn; operating profit increased 5.5% to KRW 54.7bn, while net income was a KRW 10.3bn loss.

• Mobility growth and higher Defense revenue supported sales, while FX losses contributed to KRW 61.4bn in non-operating expenses and a KRW 6.7bn pretax loss.

• 9M revenue grew 9.4% to KRW 6.992tn; the proposed transfer of the special-business division to Hyundai Rotem signals a portfolio shift toward future mobility.

Financial highlights

• Q3 revenue was KRW 2.459tn, up 14.3% YoY and 4.5% QoQ; operating profit was KRW 54.7bn, up 5.5% YoY and 8.6% QoQ.

• Q3 operating margin was 2.2%, down 0.2 percentage points YoY and up 0.1 points QoQ.

• Q3 gross profit rose to KRW 180.6bn from KRW 134.6bn; net income was a KRW 10.3bn loss versus a KRW 11.4bn loss a year earlier.

• 9M revenue increased to KRW 6.992tn from KRW 6.392tn; operating income was KRW 156.7bn, while pretax income declined to KRW 121.4bn from KRW 173.0bn.

• 9M continuing-operations profit was KRW 75.7bn versus KRW 144.4bn; prior-period discontinued operations contributed a KRW 36.6bn loss, with total prior net income of KRW 107.8bn.

Outlook and guidance

• 2035 revenue target is KRW 14.8tn: Mobility KRW 10.8tn and TMS and Robotics combined KRW 4.0tn, or 27% of revenue.

• 2035 targets include Mobility CAGR of 3.4%, TMS CAGR of 40.4% to KRW 2.7tn, and Robotics CAGR of 19.8% to KRW 1.3tn.

• Planned investment through 2035 includes ~KRW 1.8tn in R&D, ~KRW 1tn to expand global operations and ~KRW 0.9tn for new businesses; 2026–27 facility and equipment investment is KRW 883.3bn.

• Growth plans include a Pune CVJ plant in 2027, TMS applications in ESS and datacenters, and Robotics expansion in mobile robots and parking systems.