Hyundai Mobis Q2 OP down on greater auto chip, delivery prices

[Source: Hyundai Mobis]

Hyundai Mobis below South Korea’s Hyundai Motor Group reported its working revenue within the second quarter fell 28 p.c from a 12 months in the past regardless of stellar efficiency of flagship carmaker Hyundai Motor attributable to leap in auto chip costs and delivery price.

The auto components maker reported 403.3 billion gained ($307 million) in working revenue for the April-June interval, down 28.43 p.c from the identical interval a 12 months earlier however up 4.25 p.c from the earlier quarter.

Gross sales jumped 19.7 p.c on 12 months and eight.8 p.c on quarter to 12.31 trillion gained, whereas web revenue got here to 769.7 billion gained, up 15.0 p.c on 12 months and 47.74 p.c on quarter.

Gross sales elevated within the quarter due to elevated shipments of components for electrical autos on rising demand for EVs and profitable massive and sport utility autos. Gross sales of modules and key components amounted to 9.87 trillion gained, up 19.3 p.c from a 12 months in the past, with gross sales from enterprise for electrification components hovering 54 p.c to 2.1 trillion gained, reflecting a quick shift away from conventional combustion engine automobiles.

Hyundai Mobis shares have been buying and selling 0.23 p.c decrease at 219,500 gained in Seoul at 12:30 p.m.

Within the second half of this 12 months, the Korean main auto components makers will search to win extra orders of high-profit producing automotive electrification components together with infotainment and HUD techniques whereas increasing its share in lamp market in Europe and the U.S.

In a separate submitting, Hyundai Mobis introduced a quarterly dividend fee of 1,000 gained per frequent share, or 91 billion gained in whole.

By Minu Kim

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