SNT Motiv(064960) said in a filing on the 31st that, on a consolidation basis, it tentatively tallied second-quarter revenue of 258.0 billion won and operating profit of 25.8 billion won.
According to the Financial Supervisory Service electronic disclosure system, SNT Motiv's second-quarter revenue rose 0.2% from a year earlier, while operating profit fell 3%. Net profit was 23.8 billion won, up 68.2% from a year earlier.
SNT Motiv's revenue for the first half was 473.6 billion won, down 2.1% from the same period a year earlier, and operating profit was 47.3 billion won, down 4.6%.
The first-half downturn was due to disruptions in finished car production. SNT Motiv's largest business share is in hybrid vehicle motors, and a fire at some parts suppliers in April disrupted finished car production, which in turn affected deliveries of drive motors.
In addition, the expiration of deliveries for finished car parts that SNT Motiv had produced in-house also had an impact.
However, hybrid motors are currently being delivered normally, and the company recorded its first sales from the manufacturing subsidiary established in the Chennai region of India, so it expects second-half results to improve. SNT Motiv set up a steering motor production line in India in 2024.
SNT Motiv also said results should improve in the second half, as deliveries in the defense sector, including the K17 submachine gun for special operations, are set to ramp up.