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[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Motor surpassed 15 trillion won in annual operating profit for the first time in its history, the highest ever.
Hyundai Motor said on the 25th that it has achieved sales of 162.6,636 trillion won and operating profit of 15.1,269 trillion won based on consolidated financial statements in 2023. This is the first time Hyundai has recorded annual operating profit of KRW 15 trillion. Compared to 2022, operating profit rose 54% (9.8,198 trillion won in 2022) and sales increased 14.4% (142.5,275 trillion won in 2022). Net profit also rose 53.7% year-on-year to 12.2,723 trillion won.
In the fourth quarter of last year alone, Hyundai Motor's sales rose 8.3% year-on-year to 41.6,692 trillion won, and operating profit rose 0.2% to 3.4,078 trillion won.
As a result, Hyundai Motor is likely to surpass Samsung Electronics in 2023 and become the No. 1 operating profit in Korea. Samsung Electronics' operating profit was estimated at about 6.5,400 trillion won last year. Kia, which announced its earnings earlier in the day, is also expected to post an operating profit of 11.6,079 trillion won, ranking second in domestic operating profit after Hyundai Motor. Samsung Electronics is scheduled to announce its performance on the 31st.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
