April 24, 2024

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[THE INVESTOR] Hyundai Motor said on Jan. 25 its operating profit slumped 32.6 percent on-year to 1.02 trillion won (US$876.03 million) in the fourth quarter last year, weighed down by slowed sales in emerging markets and rise in costs due to the prolonged labor strike in Korea. 

The nation’s largest carmaker posted 24.53 trillion won in sales, up 0.9 percent from a year earlier. Net profit stood at 1.07 trillion won from Oct.-Dec. period, down 30.1 percent from the same period in 2015.

In total, Hyundai sold 1.38 million units in the cited period.

The annual revenue last year came in at 93.65 trillion won, up 1.8 percent from the previous year, but its operating profit slipped 18.3 percent to 5.19 trillion won, the lowest level since 2010.

Hyundai posted a net profit of 5.72 trillion won in 2016, down 12.1 percent from 6.51 trillion won in 2015.

Last year, Hyundai sold 4.85 million units globally, down 2.1 percent from the previous year.

By Ahn Sung-mi (sahn@heraldcorp.com)