Hyundai Motor announced on Thursday October 28 that it achieved revenues of $5.82 billion, operating profit of $412 billion, and net income of $519 million for the third quarter 2004. Compared to the same period last year, revenues increased by 9 percent, operating profit by 34.9 percent, and net income by 11.7 percent.
The HMC cited as the reason for the firm's increased profitability on an increase in exports of sedans amid improved exports.
On another level, most of Korea's leading conglomerates including HMC, division-by-division, department-by-department, now focus on their profitability versus market share and growth as in the past. The former drive for growth and market share is seen as a major contributor in the disastrous Korean fiscal meltdown of 1997.
The accumulative HMC sales during the nine month of this year were 1.199 million cars -- 405,367 for domestic sales and 793,578 for overseas sales. The domestic car sales decreased by 16.4 percent from 485,000 last year to 405,000 this year, while the overseas car sales increased by 15 percent from 690,000 to 794,000.
By region, it exported 302,000 cars to the U.S., a 4.1 percent decrease from 315,000 cars last year, and 38,000 to Canada, a 28.3 percent decrease from 52,000. This brought the total number of cars exported to North America this year to 339,000, a 7.6 percent decrease from 367,000 last year. On the other hand, the number of cars exported to Europe rose by 25.9 percent to 241,000 from 191,000 last year, and the number to other regions increased by as much as 61.6 percent to 214,000 from 132,000.
No comments:
Post a Comment