Hyundai Motor Net Profit for 2018 Decreased Almost 3 Times

 

The net profit of Hyundai Motor, a South Korean automobile manufacturer, in 2018 decreased by 2.8 times compared with 2017 – to 1.65 trillion KRW (1.5 billion USD), follows from the Company’s report.

Revenue for the year amounted to 97.25 trillion KRW (86.2 billion USD), which is 0.9% more than in the previous year. At the same time, operating profit declined 1.8 times, to 2.42 trillion KRW (2.1 billion USD).

Following the result of the fourth quarter of 2018, the company recorded net loss of 203.3 billion KRW (180.3 million USD) against a profit of 1.29 trillion KRW a year earlier. The net loss attributable to shareholders of the central-office Company amounted to 129.8 billion KRW (115.1 million USD) against a profit of 1.033 trillion KRW over the same period in 2017. Analysts polled by Reuters expected a profit of 784 billion KRW. The revenue grew by 4.8% reaching 25.67 trillion KRW (22.8 billion USD). And the operating profit declined by 35% - to 501.13 billion KRW (about 440 million USD) compared with the fourth quarter of 2017.

Hyundai Motor Company was established in 1967. Since 1999, it has been a part of the Hyundai Kia Automotive Group. The central office is located in Seoul. The company is the largest automobile manufacturer in South Korea and the fourth in the world; it manufactures cars, trucks and buses.