HL Mando(204320) said in a filing on the 30th that, on a consolidation basis, it is estimated to have posted revenue of 249.53 billion won and operating profit of 10.7 billion won in the second quarter this year.
According to the Financial Supervisory Service's electronic disclosure system, revenue rose 3.9% from a year earlier and operating profit increased 2.8%. Net profit came to 58.784 billion won, up 493.9% from a year ago, and the operating margin was 4.3%.
HL Mando said results improved as sales increased in emerging markets and Europe despite higher semiconductor and raw material prices. HL Mando has secured emerging brands in China and India as clients, in addition to Hyundai Motor(005380) and Kia(000270).
Sales in China rose 10.0% from a year earlier to 534.4 billion won. HL Mando said higher volumes from a leading North American electric-vehicle maker and a greater share of Chinese new energy vehicle (NEV) clients drove the improvement.
Sales in India increased 17.7% from a year earlier, helped by production expansion by Hyundai Motor and Kia and local automakers, and higher ADAS sales. Europe also rose 16.5% as revenue from new clients was fully reflected.
By contrast, in Korea, sales fell 2.3% due to lower domestic production by Hyundai Motor and Kia, and in the Americas, they declined 1.4% due to reduced North American production.
HL Mando's first-half revenue was 480.69 billion won and operating profit was 200.6 billion won. Those figures were up 2.9% and 9.4%, respectively, from the same period a year earlier.
HL Mando's order intake for the second quarter stood at 3.1 trillion won. Cumulative orders for the first half were 5.8 trillion won, achieving 44% of the annual target.
HL Mando plans to expand its business by making Humanoid Robot actuators a future growth driver. It is currently validating a rotary integrated actuator and is concurrently developing core motor technology focused on power density.