Hyundai Mobis reported on the 25th that its operating profit for the second quarter this year increased by 37% compared to the same period last year, reaching 870 billion won. Despite tariffs imposed by the U.S. government, profitability improved as local electrification factory operations began in earnest and sales of high-value-added parts increased.
Hyundai Mobis's second-quarter revenue was 15.9362 trillion won, with operating profit recorded at 870 billion won. Revenue increased by 8.7% year-on-year, while operating profit rose by 36.8%. Revenue represented the highest ever for a quarter, and operating profit was the highest for the second quarter. However, net profit for the period fell by 6.3% to 934.5 billion won.
The production of the Metaplant America, built by Hyundai Motor Group in the state of Georgia, has intensified, resulting in an increase in the supply of high-value-added automotive parts. In the second quarter, Hyundai Mobis's module and parts revenue increased by 40.3% year-on-year, and operating profit climbed by 26.1%.
The first half of the year also marked the highest performance ever. Hyundai Mobis's revenue for the first half amounted to 30.6883 trillion won, with operating profit reaching 1.6467 trillion won, representing increases of 7.6% and 39.7% year-on-year, respectively. The company explained that this is a result of consistent increases in facility investments, including research and development and the expansion of global new bases over the years.
As part of its shareholder value enhancement policy announced earlier this year, Hyundai Mobis announced it will increase its interim dividend from the previous 1,000 won to 1,500 won. The company will also buy back 110 billion won worth of treasury shares, burning them all, and plans to additionally burn 700,000 shares of its existing holdings.
A representative from Hyundai Mobis noted, "Due to global tariff issues and a slowdown in electric vehicle demand, some projects from major clients have been delayed. However, with large-scale order schedules concentrated in the second half, we will continue to work hard to achieve our annual targets."