Kia (000270) Investor presentation summary

Quarterly financial performance

• 2Q24 revenue W27,568bn (+5.0% YoY), operating profit W3,644bn (+7.1%), and net profit W2,957bn (+5.0%); operating margin 13.2%.

• 1H24 revenue W53,781bn (+7.7% YoY), operating profit W7,069bn (+12.6%), and net profit W5,766bn (+16.8%); operating margin 13.1%.

• Consolidated sales volume fell 1.5% YoY in 2Q24 and 1.4% in 1H24; average USD/KRW rates were W1,371 and W1,350, respectively.

Sales and electrification

• 1H24 global retail sales were 1.489m units, down 2.7% YoY; global market share was 3.7%, versus 3.9% in 1H23.

• 2Q24 green-car sales rose 8.3% YoY to 162k units; XEV share of sales increased to 21.4% from 18.9%.

• HEV sales target rises from 372k units in 2024 to 800k in 2028, with a stated 21% CAGR; planned lineup expands to 15 models by 2028.

Mid-to-long-term strategy

• 2030 global sales target is 4.3m units: 2.6m in major markets and 1.7m in emerging markets.

• 2030 green-car sales target is 2.48m units, or 58% of total sales; EVs are planned at 1.6m units, or 38%.

• Major-market 2030 sales mix targets are 52% EV and 28% XHEV, for 80% combined green-car contribution.

• Sustainable mid-to-long-term operating margin target is 10%+, supported by EV cost competitiveness, profitable ICE/HEV operations, and SDV business development.

• EV cost program targets 45%+ PE cost reduction versus 2022 by 2031+, alongside battery diversification and next-generation platform savings.