现代汽车2023Q3财报-Hyundai Motor Company Q3 2023 Business Results

HyundaiMotorCompany

Q32023BusinessResults

Oct26,2023

CautionaryStatementwithRespecttoForward-LookingStatements

InthepresentationthatfollowsandinrelatedcommentsbyHyundaiMotor’smanagement,ouruseofthewords“expect,”“anticipate,”“project,”“estimate,”“forecast,”“objective,”“plan,”“goal,”“outlook,”“target,”“pursue”andsimilarexpressionsisintendedtoidentifyforwardlookingstatements.

ThefinancialdatadiscussedhereinarepresentedonapreliminarybasisbeforetheauditfromourIndependentAuditor;finaldatawillbeincludedinHMC’sIndependentauditor’sreport.Whilethesestatementsrepresentourcurrentjudgmentonwhatthefuturemayhold,andwebelievethesejudgmentsarereasonable,actualresultsmaydiffermateriallyduetonumerousimportantfactors.Suchfactorsinclude,amongothers,thefollowing:changesineconomicconditions,currencyexchangeratesorpoliticalstability;shortagesoffuel,laborstrikesorworkstoppages;marketacceptanceofthecorporation’snewproducts;significantchangesinthecompetitiveenvironment;changesinlaws,regulationsandtaxrates;andtheabilityofthecorporationtoachievereductionsincostandemploymentlevelstorealizeproductionefficienciesandimplementcapitalexpendituresatlevelsandtimesplannedbymanagement.

Wedonotintendorassumeanyobligationtoupdateanyforward-lookingstatement,whichspeaksonlyasofthedateonwhichitismade.

1

TableofContents

SalesSummary

FinancialSummary

Appendix

P.3~5

P.6~9

P.10~14

SalesSummary

GlobalWholesale/RetailSales

SalesAnalysis

P.4

P.5

145151

142153

56

84

7852

167

167

244

162

162

239

267

275

Europe

Korea

N.America

+5.9%

+1.5%

+2.2%

+6.8%

△1.4%+2.2%

159

150

150

148

82

77

142

140

8485

134138

S.America

China

GlobalWholesale/RetailSales

□Q32022Wholesale

□Q32023Wholesale

Q32022

RetailSales

Q32023

RetailSales

(Thousandunits)

+4.4%

+7.9%

△33.8%

△33.2%

+2.8%

+2.8%

+12.8%

+11.6%

△39.0%

1711

△31.1%

1913

India

Russia

Others2

1USandEuropearebasedonretailsales,Chinaex-Factory,IndiaWholesale

2AMEA,Asia-Pacific,Otherregions,CV(ex.Korea,ChinaCV)

3EuropeexcludingCV

4

4WholesalesincludingCV

GlobalDemandunits)

Q32022Q32023

Korea417401

US3,4233,980

Europe33,2423,856

China6,1025,978

India1,0341,084

Global19,42420,964

YoY

△3.8%

+16.3%

+18.9%

△2.0%

+4.8%

+7.9%

HMCGlobalSales4

1,025

1,020

1,002

+2.0%

+1.8%

1,046

WholesaleRetailsales

968

941

923

+5.2%

+4.8%

990

WholesaleRetailsales(ex.China)

1.1%

127

03%

.

1.2%

8.6%

5.7%

6.3%

5.1%

SalesAnalysis

SalesbySegment

(Thousandunits)

1,025

5.5%

7.9%

18.6%

5.8%

4.9%

50.6%

6.7%

1,046

4.7%

8.3%

15.0%

5.9%

5.1%

54.7%

6.3%

Q32022

Q32023

※Basedonwholesale

A

B

C

D

Genesis

SUV

Others

SalesofEco-FriendlyVehicles

(Thousandunits)

169

0.1%

Q32023

Q32022

※Basedonwholesale

FCEV

PHEV

HEV

EV

※GV60,GV70,GV80areincludedinGenesis,whenincludedinSUV,theportionis57.8%

5

※Portioncomparedtototalsales

FinancialSummary

FinancialSummaryP.7

Revenue&OperatingIncomeAnalysisP.8

StatusofIncomeP.9

FinancialSummary

(BillionKRW)

Q32022

Q22023

Q32023

YoY

QoQ

Revenue

37,705

42,250

41,003

8.7%

△3.0%

Automotive

29,554

33,766

32,312

9.3%

△4.3%

Finance

5,851

5,748

5,902

0.9%

2.7%

Others

2,300

2,736

2,789

21.3%

1.9%

SG&A

5,805

4,655

4,639

△20.1%

△0.3%

OperatingIncome

1,552

4,238

3,822

146.3%

△9.8%

Automotive

1,089

3,839

3,095

184.2%

△19.4%

Finance

378

425

383

1.3%

△9.9%

Others

161

340

325

101.9%

△4.4%

Adjustment

△76

△366

19

-

-

IncomebeforeTax

2,042

4,834

4,667

128.6%

△3.5%

NetIncome

1,412

3,347

3,303

133.9%

△1.3%

7

Others

+828

F/X

△259

OperatingIncome

Finance+5

3,822

OPM(9.3%)

F/X

+306

1,552

OPM(4.1%)

+3,298

(+8.7%)

+2,270

(+146.3%)

Revenue&OperatingIncomeAnalysis

Revenue

37,705

Volume

+1,587

ProductMix

+1,142

(BillionKRW)

41,003

Q32022

Q32023

Volume

+314

ProductMix

+461

Others

+1,184

Q32022

Q32023

8

+356

846

Others

Finance

EquityIncome

(+72.7%)

33

97

490

187

27

716

276

NetIncome

3,304

+1,892(+134%)

114

Non-controlling

Controlling

1,412

3,190

140

1,272

Q32022Q32023

9

StatusofIncome

Non-operatingIncome

COGSRatio

Q32022

Q32023

80.5%

79.4%

Q32023

Q32022

SG&A

5,805

843

1,096

2,3932

433

1,040

△1,166(△20.1%)

4,639

962

1,134

809

555

1,179

Q32022Q32023

1CommissionFees,depreciation,etc.

2IncludingKRW1.36tnofprovisioncost

Salary

Marketing

Warranties

Research

Others1

Appendix

SalesbyRegion

StatementofIncome

StatementofFinancialPosition

StatementofCashFlows

P.11

P.12

P.13

P.14

0.2%

SalesbyRegion

KoreaUSEurope

Salesbytype

162

167

37.4%

37.1%

25.5%

37.1%

41.5%

21.4%

Q32022Q32023

SalesofEco-FriendlyVehicles

42

34

1.6%

7.6%

11.9%

0.6%

17.1%

7.4%

Q32022Q32023

1.5%

25

0.03%

10.9%

.

06%

8.0%

8.4%

3.2%

225

207

22.6%

33.5%

66.5%

77.4%

Q32022Q32023

47

0.01%

Q32022Q32023

153

142

35.6%

37.5%

61.3%

12%

62.3%

21%

Q32022Q32023

57

53

0.01%

0.03%

6.3%

7.8%

14.9%

16.2%

16.1%

14.1%

Q32022Q32023

※Basedonwholesale/Portioncomparedtototalsalesbyregion11

※Others:N.America(ex.US),China,India,Russia,S.America,Otherregions

Others

(Thousandunits)

PVSUVCV

514

501

41.8%

51.3%55.2%

3.5%3.0%

45.2%

Q32022Q32023

EVHEVPHEVFCEV

23

0.0%

150.0%

2.3%

0.1%

1.4%

2.0%

1.3%

Q32022Q32023

D&A11,2081,4241,2761,2471,249

EBITDA2,7604,7844,8695,4855,071

1

IncludingleaseamortizationunderIFRS16

StatementofIncome

(BillionKRW)

Q32022

Q42022

Q12023

Q22023

Q32023

YoY

QoQ

Revenue

37,705

38,524

37,779

42,250

41,003

+8.7%

△3.0%

CostofGoodSold

30,348

30,737

30,057

33,357

32,542

+7.2%

△2.4%

GrossProfit

7,357

7,787

7,722

8,893

8,461

+15.0%

△4.9%

Margin(%)

19.5

20.2

20.4

21.0

20.6

SG&A

5,805

4,428

4,129

4,655

4,639

△20.1%

△0.3%

Portion(%)

15.4

11.5

10.9

11.0

11.3

OperatingIncome

1,552

3,359

3,593

4,238

3,822

+146.3%

△9.8%

Margin(%)

4.1

8.7

9.5

10.0

9.3

IncomebeforeTax

2,042

2,739

4,591

4,834

4,667

+128.6%

△3.5%

Margin(%)

5.4

7.1

12.2

11.4

11.4

Tax

631

1,029

1,172

1,487

1,363

NetIncome

1,411

1,710

3,419

3,347

3,303

+134.0%

△1.3%

Margin(%)3.74.49.17.98.1

12

CurrentRatio(a/c)

129.8%

137.8%

LiabilitytoEquity(b/e)

181.4%

175.8%

DebttoEquity(d/e)

123.4%

120.2%

StatementofFinancialPosition

(BillionKRW)

Q42022

Q32023

Diff.

%change

Asset

255,743

279,414

+23,671

+9.3%

CurrentAsset(a)

96,