KG Mobility(003620)(KGM) filed on the 28th that, on a separate financial statement basis, it is tentatively estimated to have posted second-quarter revenue of 1.1823 trillion won and operating profit of 8.8 billion won.
According to the Financial Supervisory Service's electronic disclosure system, second-quarter revenue rose 14.1% from a year earlier, while operating profit fell 50.8%. Net income was 17.6 billion won, up 604%.
Revenue increased on strong sales of finished vehicles. KGM's first-half sales totaled 56,759 units — 21,806 in Korea and 34,953 for export — up 6.5% from a year earlier.
However, operating profit decreased because the company reflected in advance the wage hikes under this year's wage and collective agreement, and because selling and administrative expenses and other costs increased, KGM said.
First-half results also improved. KGM said first-half revenue was 2.3188 trillion won, up 19.3% from the same period a year earlier, and operating profit was 30.5 billion won, up 7%.
KGM has been in the black for four consecutive years since 2023. KGM said it expanded export volume by launching new models such as the Musso pickup truck in global markets and increasing entries into new markets.
KGM plans to focus on expanding overseas sales in the second half. This year, it is continuing its push in global markets by launching the Actyon Hybrid and Musso EV in countries including Germany, Türkiye, and Chile.
A KGM official said, "We are solidifying our growth foundation based on increased domestic and overseas sales," adding, "Along with higher volume, we will expand profitability."