hmc investor presentation...amea india s. america others developed market emerging market suv...
TRANSCRIPT
HMC Investor Presentation Hyundai Motor Company August 2019
G90
Recent Updates
Global Sales P. 2
Geographical Sales Mix P. 3
Market Updates
United States P. 4
China P. 5
Korea P. 6
W. Europe P. 7
India P. 8
Russia / Brazil P. 9
1
Global Sales
-4.6%
267 279 353 356
-0.7%
384 354
+8.4%
343 335
+2.5%
89 88
+1.6%
250 263
-4.9%
97 90
+7.9%
427 430
-0.6%
W.Europe China Korea United States
Russia India Brazil Others
9 Manufacturing Plants
6 R&D Facilities
15 Direct Sales Subsidiaries
Global Retail Sales
(Sales in Thousand units)
2018 1H 2019 1H
2018 1H 2019 1H
1,857 1,839
353 356
Total Sales excluding China
China Sales including CV
2,195 2,211
+0.7%
+1.0%
Source: Company data (Retail sales excluding CKD sales)
* Others : MEA, APAC, Turkey and etc.
2
Geographical Sales Mix
Sales by Region Feature by Region
4.6% 4.7% 5.1% 5.5%
6.7% 7.8% 8.1% 7.7%
10.4% 11.7% 12.0% 12.2%
7.5% 6.9% 6.6% 6.8%
4.4% 5.3% 5.2% 5.5%
24.5% 18.1% 17.5% 12.9%
10.1% 11.8% 11.9%
12.9%
18.0% 18.5% 17.9%
18.4%
13.7% 15.3% 15.7% 18.1%
2016 2017 2018 2019 1H
Developed Market
Emerging Market
49.5% of Total Sales
37.7% of Total Sales
Korea N.America W.Europe China E.Europe
AMEA India S. America Others Developed Market Emerging Market
SUV
Opportunity to win shares (Ex. Palisade in US market)
Outperform market growth
Market Hyundai
53.1% 43.2%
Green Regulation
SUV
Market Hyundai
31.4% 33.2%
SUV
(Company Data, Wholesales)
Cyclical slow down Cyclical Recovery Secular Growth
Market Demand
Intense Moderate Competition
Imminent Pressure Mid to Long term Pressure
Disruptive Forces
High (Ex. ADAS)
Low (Ex. Car Sharing, Hailing)
3
US Market
US Market sales Mid-to-Long Outlook
4.4% 4.0% 3.9%
4.2%
2016 2017 2018 2019(F) 2020(F) 2023(F)
775 686 678 710
29% 36% 45%
51%
SUV (%)
(Thousand units) M/S (%)
Entry CUV
Kona Tucson F/L Santa Fe
Sub-Compact SUV Compact SUV
2018
2019
Nexo Palisade Venue (4Q)
Green Car Entry CUV Mid-Size SUV
Full Line-up of SUV
2018 1H 2019 1H
SUV Pick-Up MPV Sedan
8,610 8,438
46.4%
16.4%
31.5%
-2.0%
48.1%
17.4%
29.1%
5.7% 5.4%
Industry
2018 1H 2019 1H
335 343
43.1%
56.9%
+2.5%
49.8%
50.2%
Hyundai
(Thousand units)
(Source : Company Data)
Year of Turn-Around
2019 2020 ~
Hyundai · Palisade · Venue · Sonata · Elantra · Tucson
Genesis · G90 F/L · GV80 · G80 · GV70
Regional HQ System
Enhanced dealer Competitiveness
Focusing on market & customer
Optimizing volume & profit
Reducing fleet sales Improve residual value
9.2%
M/S
9.7%
M/S
4.8%
M/S
4
China Market
New Model Line-up(Tentative)
Industry Demand
296 385
232 284
104
767 757
553 506
168
5.1%
4.8%
3.3% 3.4%
2.9%
2015 2016 2017 2018 2019 1H
(Thousand units)
SUV
Sedan
Hyundai Sales
9,345 11,993 12,600 11,771
4,980
11,475 11,841 11,540 11,245
4,836
2015 2016 2017 2018 2019 1H
SUV
Sedan
(45%) (50%) (52%) (51%) (51%)
(28%) (34%) (30%) (36%) (38%)
Sedan
SUV
EV
2019 2020 2021
Santa Fe
ix25
China Exclusive
MPV
Sonata Elantra
Mistra
Kona EV
La Festa EV
More to come
More to come
More to come
Market Strategy
Optimizing volume & profit
Product Enhancement
Optimizing volume & profit
Flexible Management
Optimizing volume & profit
New Opportunity
Launch competitive new models
EV models to meet NEV regulation
Temporarily stop production from 1st plant to alleviate fixed cost burden
Looking for new world markets to export from China
(Launch schedule is subject to change) 5
(Thousand units)
Korea Market
Rebound in domestic M/S
Expanding SUV segment sales
Industry
(Thousand units)
2018 1H 2019 1H
Sedan RV Imported Others
901 867
29.8%
31.8%
15.9%
-3.7%
35.0%
12.9%
2018 1H 2019 1H
Sedan RV Others
354 384
48.3%
+8.4%
27.8%
Industry & HMC Volume Sales
45.2%
26.3% 30.9%
25.3% 23.9%
Growth Factors
G90 Face Lift
· Launch Date : Nov 2018 · 2019 1H Sales : 11,000 units (YoY +111.8%)
Palisade
· Launch Date : Dec 2018 · 2019 1H Sales : 32,000 units
Sonata
Venue
· Launch Date : Apr 2019 · 2019 1H Sales : 48,000 units (YoY +47.4%)
· Launch Date : Jul 2019
13.9% 14.9%
6
38.9%
36.0%
38.3%
39.7%
44.1%
30.0%
32.0%
34.0%
36.0%
38.0%
40.0%
42.0%
44.0%
46.0%
2015 2016 2017 2018 2019 1H
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
2016 2017 2018 2019 1H
small
mid-large
Genesis
SUV
Others
659
18%
23%
10%
22%
26%
16%
31%
8%
19%
26%
14%
25%
9%
28%
25%
10%
27%
8%
31%
24%
689 721
384
Hyundai
Green-car Sales Trend
* Europe Market : EU + ETFA
Sales and M/S Trend
2016 2017 2018 1H.19
SUV Sedan Others
2.9% 3.0% 3.0% 3.0%
495 528 539
267
M/S
SUV Portion
Sales*
41% 39%
45% 49%
- Maximize EV & FCEV sales and Expand green-car line-up
2018 2019 2020
New Model
· Kona EV
· NEXO
· Kona HEV
· IONIQ F/L · Greener SUV Line-up - 48V mild HEV, HEV, PHEV
· Expand Kona EV supply Line-up
HEV PHEV EV FCEV
1 1 2 1
1.3 6.3
13.3 15.3
3.6
14.5
17.2 10.1 1.9
5.5
2.2
2016 2017 2018 1H.19
EV FCEV HEV PHEV
Sales* 5.0
22.9
36.2
27.8 Green-car
M/S
BEV M/S
1.3%
4.5%
6.4% 9.0%
1.0%
3.3%
4.2% 5.3%
* Thousand units
2020
i10 i30 F/L Tucson Kona F/L i20
- New powertrain & platform with better fuel efficiency
EU market volume models (sales portion : 80% )
W. Europe Market
2019 1H 2019 1H
7
India Market
2018 1H 2019 1H
Sedan SUV Others
1,720 1,546
21.9%
68.8%
-10.2%
23.5%
64.8%
9.2% 11.6%
Industry
2018 1H 2019 1H
275 260
22.2%
77.8%
-5.5%
29.2%
70.8%
16.0% 16.8%
M/S
Hyundai (Thousand units)
(Source : Company Data)
Strong M/S in SUV segment
India Sales
SUV Segment in India
Winning M/S with Refreshed Line-up
India’s First Premium EV
Kona EV
2019
2020
Creta
Venue
India’s First Fully Connected Car
i10
i20
Compact Sedan
Compact Sedan SUV-Low
New Launch
Full Model Change
2016 1H 2017 1H 2018 1H 2019 1H
Hyundai Rest
284
377
16.2% 18.3%
364
52
61 76
19.6%
46
234
21.0%
*July 2019 YTD : M/S 22.4%
(Thousand units)
Crucial Market in the Long-run
Motorization
Economy
Population · Fastest growing among major EM · Second largest after China - 1.35 Billion(2018, World Bank)
· Fastest GDP growth among major EM - 5.9%(2018), 7.5%(2021, World Bank)
· Lowest among major EM - 35 vehicles per 1,000 capita (2017)
8
Russia/Brazil Market
9
Russia Brazil
2018 1H 2019 1H
Sedan SUV Pick up
1,129 1,251
64.0%
20.9%
+10.8%
62.8%
22.4% 15.0%
14.7%
Industry
2018 1H 2019 1H
90 97
23.5%
76.5%
+7.9%
26.5%
73.5%
Hyundai
(Thousand units)
(Source : Company Data)
Rank Brand Model Sales M/S YoY
1 Hyundai Creta 17.9 29.2% 2.3%
2 Renault Duster 10.4 17.1% (5.2%)
3 Lada 4x4 7.3 12.0% (11.7%)
Rank Brand Model Sales M/S YoY
1 Renault Onix 10.7 16.9% 33.3%
2 Hyundai HB20 4.9 7.8% 7.9%
3 Kia Hatch 4.8 7.5% 5.1% Creta
(SUV-B) HB20 (PV-B)
2018 1H 2019 1H
Sedan SUV+MPV Pick up
849 829
51.2%
41.1%
-2.5%
51.6%
41.3%
7.7% 7.1%
Industry
2014 2015 2016 2017 2018 2019(E)
Market Demand Trend
2,491
1,602 1,426
1,596 1,801 1,800
2018 1H 2019 1H
88 89
45.5%
54.5%
+1.6%
41.7%
58.3%
Hyundai
(Thousand units)
(Source : Company Data)
Sales & M/S Trend
7.2%
10.1% 10.2% 10.0% 10.8%
2014 2015 2016 2017 2018 2019.1H
10.0%
180 161
145 159
180
89
2014 2015 2016 2017 2018 2019(E)
Market Demand Trend
3,333
2,480
1,988 2,176
2,474 2,700
Sales & M/S Trend
2014 2015 2016 2017 2018 2019 1H
237 205 198 202 207
100
7.1% 8.3%
10.0% 9.3% 8.4% 8.1%
* New HB20 launch in Sep.2019 * New Creta launch in 2020
* As of 2019.1H * As of 2019.1H
Retaining Core Strength
Next Design Philosophy P. 11
Cost Innovation
Smartstream P. 13
3rd Generation Platform P. 14
New Model Big Cycle P. 12
10
New Design Philosophy
DESIGN MISSION
Be the Hyundai – Creating emotional values in design DESIGN IDENTITY
SENSUOUS + SPORTINESS DESIGN SIGNATURES DESIGN STRATEGY
Hyundai Look – Creating own spirit Design based on the evolving future customer needs and desires
Emotional values In design
Innovative solutions In design
Hyundai Signature Look Hidden DLR signature
The light architecture & Parametric Jewel
Human-Centered Space Smart Living Space
Intuitive & connected interface
Human-Centered Space Emotional haptic & Sophisticated details
Sustainable & Progressive
DESIGN MISSION
Being Desirable – Audacious, Progressive, Distinctly Korean
DESIGN IDENTITY
ATHLETIC + ELEGANCE DESIGN SIGNATURES DESIGN STRATEGY
Sporty & Energetic Prestige & Exclusive
QUAD LAMPS EVOLVING CREST GRILLE
PARABOLIC LINES
G-MATRIX BEAUTY OF SPACE
Family Look Hyundai Look
11
New Model Big Cycle
2015
Elantra
Tucson
2016
Grandeur
2014
Sonata
2017
Kona
Genesis G70
2018
Santa Fe
Palisade
2019
Sonata
Venue
Genesis SUV GV80
New Elantra
New Tucson
Genesis SUV GV70
New Genesis G80
2020-
New CUV
New SUV
New Genesis G90
Ix25 (Creta)
New Creta
Entering New Model Big Cycle
Refreshing volume models 「Started from New Sonata launched in Q2 2019」
Expanding SUV line-up 「Entered new SUV segment by launching Palisade and Venue」
12
Smartstream
Fuel efficiency Roadmap Fuel efficiency improvement
Next-generation powertrains
· Engine : Refresh 5 Gasolines & 3 Diesels (inc. HEV)
· T/M : Improve current transmissions T/M : Newly develop IVT, AMT, and etc.
· Redesign structure to optimize fuel efficiency
· World’s 1st CVVD technology for G1.6 T-GDI in 2H
· IVT : Intelligent Variable Transmission, AMT : Automated Manual Transmission
· Sonata G 2.0 CVVL (2019.4)
13.3 km/ℓ 11.6~12.3 +10.8% LF DN8
20.1km/ℓ 17.4~18.0 +11.7% LF DN8
· Sonata HEV G 2.0 (2019.7)
· Sonata G 1.6-GDI with CVVD (2019 2H)
GV 80
Improve average fuel efficiency by 25% (2015 - 2020)
- 11% from 2019 to 2020 and 14% from 2015 to 2018
+5%pt
18%
23%
25%
+2%pt
Improve fuel efficiency of powertrains & vehicles
Smartstream Weight reduction 3rd gen. platform
Strengthen fuel efficiency technologies
Solar roof charging ISG · DCT 48V mild HEV
Expand eco-friendly car sales volumes
· Eco-friendly car sales : 2015 45 thousand → 2019 200+α thousand
Smartstream G 1.6
CVVD (Continuously Variable Valve Duration)
· The valve control technology regulates the duration of valve opening and closing according to driving conditions
· Optimizes both engine performance and fuel efficiency
2019 2020 ~ 2018
Gasoline
Diesel
Line-up strategy
Produce 1st gas.& diesel
Apply with 3rd gen. platform
Complete engine line-up
Complete line-up to meet tightened regulations
Elantra F/L
1.6 + IVT
8 4
2.0 CVVL
Sonata
1.6 T-GDI
Sonata
Tucson F/L
1.6
8
New
GV80
Expand full line-up &
derivative engines
(i10 to Genesis)
13
Dynamic design ratio
& more interior space
1
3rd generation platform
3rd generation integrated platform
Applied to the 8th generation Sonata
Apr. 2019
Enhanced cost structure
DN8
Increase parts commonization with more standardized parts and integrated procurement
Material cost reduction
Reduce investments and manpower of design and test for standardized parts
R&D manpower &
Investments reduction
FF
FR
EV
Mid-Large Micro-Small Small-Mid
Genesis-Large Genesis-Mid
EV-dedicated models for Hyundai & Genesis
LCV
2019 2020 ~
Target of Standardized parts (FF Mid-Large platform)
+10+α %pt
「LF Sonata」
% of Standardized parts in total material cost
「DN8 Sonata」 Strategic considerations
· More SUVs · Genesis · EVs
· Cost reduction & efficiency
· Design and performance
· New PT & weight reduction
· Regulations (Safety · Emission)
+ ③ Fun to drive
② Energy - efficient
① Design –friendly
④ Safety - first
3rd gen. platform
Overall height
△30mm
Hood △ 30~50mm
Arranged lower
Wheelbase +35mm
Overhang
△20mm
Weight reduction
& reinforced structure
4 · Weight reduction : 55kg+α
· Average strength : +10%
Enhanced fuel efficiency
& driving performance
2 · 3
· Active driving performance, immediate response, and more stability
· Improve power & fuel efficiency with Smartstream & lower underbody
14
Type of platform
A Head of Paradigm Change
Green Car
ADAS P. 19
Mobility As a Service P. 20
Clean Mobility Trend P. 17
Our Green Car Focus P. 18
15
Preparing for the Future P. 16
Preparing for the Future
Strategy & Technology Division
Internal Resources
Open Innovation S&T Division HQ
Global Open Innovation Hubs
Seoul Silicon Valley Beijing Berlin Tel Aviv
Automotive
Non-Automotive
Production R&D
Quality Control
Steel · Logistics Finance
IT
Investment
Collaboration
“Game Changer”
“Smart Mobility Service Provider”
MaaS Smart City Energy Robot A.I.
5 Core Investment Area
Smart Mobility Solution Business
Robo-taxi / Smart City
Fuel Cell / ESS Wearable Robot Autonomous Vehicle
16
Clean Mobility Trend
Fuel Economy Regulation
CO2 Regulation Avg. Regulation (CAFE)
8.7% 14.8% 17.8%
24.4%
32.8%
36.0%
2014 2015 2016 2017 2018 2019 1H
EV FCEV
HEV PHEV
84.7%
74.2%
69.3%
61.1%
51.0% 50.5%
8.7%
14.8% 17.8%
24.4%
32.8% 36.0%
13.3%
0.2%
16.1%
0.1%
14.4%
0.1% 0.1% 12.8% 11.0%
6.6% 0.0% 0.0%
EV FCEV
* Source : IHS Markit Jun.2019
Battery System Fuel cell System
* Size represent the relative annual energy consumption
Driving Range
Cost
(Equivalent Range)
355km
* Source : Bloomberg New Energy Finance forecast(2017)
Driving Range
Weight
Small Cars/Urban mobility
Medium to Large Cars, Fleets and Taxis
Bus & Truck
* Source : 2017 Hydrogen Council
Fuel Economy Regulation
Global Market Share Trend in Green Car
Weight/Driving Range Comparison
Cost Parity of EV & FCEV
17
Our Green Car Focus
Battery Electric Vehicle Fuel Cell Electric Vehicle
HMC Global Market Share in EV Market
New Models & EV platform ▶ Global Top 3
2014 2015 2016 2017 2018 2019 1H
20.9%
178
318
446
722
1,198 (Thousand Units)
EV Dedicated Platform
Charging Infrastructure
Product Enhancement
Cost Efficiency
Business Expansion
A Seg E Seg MPV
B&C Seg
Expand line up
New business model
Battery Related Biz
11 40
130
500
0.3
1.5
2.9
7.6
2020 2022 2025 2030
FCEV Production Capacity (Thousand units)
HMG Cumulative Investment (in KRW tri.)
Global leader of hydrogen community
FCEV 2.0 (2023~)
FCEV 1.0
FCEV 3.0 (2030~)
Establish business foundation
Price competitiveness & System downsizing
Line up & value chain expansion
< E-GMP >
704
0.9% (15th)
2.7% (10th)
2.9% (13th)
3.7% (10th)
4.1% (9th)
6.5% (5th)
HMC M/S
(Rank)
Global Demand
* Source : IHS Markit Jun.2019
* Ex-China 3rd
18
ADAS
2018 ~ 2019 2020 ~ 2022 2015 ~ 2018
Adopt Safety ADAS on all vehicles Offer higher ADAS technology to the market Real Road Driving of NEXO (Lev. 4)
R&D Focus
Sensors Sensor Balancing Control Platform Cockpit Module Map V2X Infra Car Cloud
19
Mobility as a Service (MaaS)
Global Investment and Collaboration In
vest
me
nt
Co
llab
.
Grab
Ola
Revv
Car Next Door
Migo
Yandex
Careem
· ASEAN, Car Sharing & Hailing
· India, Car Sharing & Hailing
· India, Car Sharing
· Australia, P2P Car Sharing
· U.S.A., Mobility Service Platform
· Russia, Robo-Taxi(LV4 Sonata, 2020 w/ Mobis)
· MEA, fleet and service (5k units by 2019)
Mid-to-Long term MaaS Business Model
Platform Business (Phase II) Building Platform (Phase I)
Building integrated service platform
Connecting global mobility belt from developed to emerging markets
Developing platform business model
Commercializing Robo-taxi
TaaS
MaaS
CaaS
CaaS - Car as a Service MaaS – Mobility as a Service TaaS – Transportation as a Service
Mid-term Focus Long-term Target
· Rental, Subscription · Fleet operation + Maintenance
· Fleet Management Service (FMS)
· Car Sharing + Car Hailing
· Smart Mobility Solution
· Robo-Taxi · Autonomous Shuttle
20
Governance
BoD & Key Improvements
ESG Enhancement Roadmap
Shareholder Return
Share Buyback & Cancellation
21
P. 22
P. 23
P. 24
P. 25
BoD & Key Improvements
Achievements in 2018
Board of Directors
Shareholder Recommended Director · Minority shareholders actively involved in appointing directors who can represent them
Expansion of BoD · Number of BoD members increase to 11 from 9 with 6 outside directors
Diversification of BoD members · Newly joined BoD members added diversity in nationalities, expertise and perspectives
Shareholder Return · Share buyback and cancellation to resolve the undervaluation of share price
Long-term Investment Strategy · 5 year R&D plan is necessary to be ready for the paradigm change in auto industry
Profit Level Commitment · CGCC1) reviewed and approved CEO’s operating income and ROE target
Increasing shareholder involvement to bring better governance and sustainable growth
CGCC1
1Corporate Governance and Communication Committee
Committees of BoD
(5 Internal / 6 Independent)
11 Members
Board of Directors
Independent Directors Recommendation Committee
· Search the talents who can contributes independent directors
· Recommend Independent director nominees for AGM
Corporate Governance and Communication Committee
· Make decisions on shareholder rights related agendas
· Review major investments and transaction plans
Audit Committee
· Approve financial statements, internal auditing process
· Designate external auditors and ensure to abide by laws
Compensation Committee *
· Approve directors’ compensation policies and scheme
· Determine directors’ compensation cap for the following year
New Committee (Expected in 2H19)
22
ESG Enhancement Roadmap
Growing Importance of ESG
ESG is considered to be a key element for sustainable growth
Market participants(equity, credit, government, etc.) take ESG as a necessary criteria when making investment decisions and policies
Phase I Phase II Phase III Phase IV
Awareness Initiation Advancement Continuing Effort (~2018) (~2019) (~2020) (2021~)
Customers make purchasing decision and assign brand value based on ESG
Report the market’s interest in ESG to top management
Offer ESG seminars to our Board members
Open dialogue with rating & consulting firms
Rank 1st place in Climate Change Actions by CDP
Involve actively with ESG rating agencies (Sustainalytics, DJSI, MSCI)
Include ESG ratings as one of CEO’s KPI
Share ESG matters with related departments
Establish corporate level management system for ESG
Review strategic approach
Coordinate with all related teams to build stronger ESG
Improve ESG practice to global peer level
Expand our exemplary activities to the group
Maintain high scores and rankings
23
Shareholder Return
Shareholder Return Payout Ratios
0.53 0.82
1.08 1.08 1.08 1.07
0.14
0.31
1.01
0.23
2013 2014 2015 2016 2017 2018 2019
0.96
1.39
1.08 1.08
2.08
0.53
4X Total Dividend (KRW tri.)
Buyback & Cancellation (KRW tri.)
Total Return Amount (KRW tri.)
6% 11%
17% 20%
27% 17%
25%
36%
51% 51%
2013 2014 2015 2016 2017 2018
71%
447% to Net Income (%)
to FCF (%)
2017 2018 Roadmap
Announced Dividend Policy · Disburse 30~50% of free cash flow · Target peer level of payout ratio
Total Shareholder Return · 1.1 trillion KRW (4,000won/share)
· Payout ratios : 27% of NI / 50% of FCF
Buyback and Cancellation · 3% of o/s shares cancellation (Apr)
· 1% of o/s shares buyback (Nov)
Total Shareholder Return · 1.1 trillion KRW (4,000won/share)
· 1.0 trillion KRW of share buyback
Enhance dividend policy reflecting opinions from shareholders
Review various means and policies of shareholder return
*
* Represents share buyback completed between Jan. 1 – Feb. 27
24
Share Buyback and Cancellation
2.9
5.7
2.8
Buyback &
Cancellation
Treasury shares
Cancellation
KRW 380 Billion
Buyback
Buyback & Cancellation Total Issued Shares Treasury Shares
Outstanding Shares
268.7 263.0
16.8 (5.9%)
13.9 (5.0%)
March 2018 March 2019
Total issued : 285.5 Total issued : 276.9
(Unit : Million Shares) (Unit : Million Shares)
KRW 559 Billion
KRW 308 Billion
Apr 27 2018
Nov 30 2018
Buyback & Cancellation : 1% of total issued shares
Cancellation of treasury shares : 2%
Buyback : 1% of total issued shares
25
Appendix
26
Wholesales by Region P. 27
Recent Earnings by Division P. 29
Finance Division P. 30
Statement of Income P. 28
(Thousand units) Q2
2018 Q2
2019
Q2 2019 Vs
Q2 2018
Korea 185 200 +8.1%
North America 224 215 -4.1%
Europe 156 149 -4.8%
India 137 127 -7.7%
Russia 052 051 -1.5%
South America 079 083 +4.7%
Others1 141 140 -1.0%
Sub-total (ex-China)
971 961 -1.1%
China 217 141 -35.1%
Total2 1,192 1,105 -7.3%
Wholesales by Region
2018 1H
2019 1H
2019 1H Vs
2018 1H
354 384 +9.1%
428 413 -3.3%
302 291 -3.6%
275 260 -5.6%
094 100 +6.1%
148 142 -4.0%
259 263 +1.4%
1,855 1,848 -0.4%
380 272 -28.4%
2,142 2,126 -5.1%
1 MEA, Asia-Pacific, Other regions, Commercial vehicles(ex. Korea CV) 2 Wholesales including CV
27
(KRW Bil.) 2016 2017 2018
Revenue 93,649 96,376 96,813
Gross Profit 17,689 17,578 15,142
Margin (%) 18.9 18.2 15.6
SG&A 12,496 13,003 12,720
Portion (%) 13.3 13.5 13.1
Operating Income 5,194 4,575 2,422
Margin (%) 5.5 4.7 2.5
Income before tax 7,307 4,439 2,530
Margin (%) 7.8 4.6 2.6
Net Income 5,720 4,546 1,645
Margin (%) 6.1 4.7 1.7
Depreciation 2,165 2,255 2,358
Amortization 1,194 1,275 1,404
EBITDA 8,552 8,104 6,184
Statement of Income
2018 1H
2019 1H HoH
47,148 50,953 +8.1%
7,394 8,536 +15.4%
15.7 16.8
5,762 6,473 +12.3%
12.2 12.7
1,632 2,063 +26.4%
3.5 4.0
2,055 2,603 +26.7%
4.4 5.1
1,542 1,953 +26.6%
3.3 3.8
1,147 1,234
696 636
3,475 3,933
28
Recent Earnings by Division
(KRW Bil.) 2016 2017 2018
Revenue 93,649 96,376 96,813
Automotive 72,684 74,490 75,265
Portion (%) 77.6 77.3 77.7
Finance 14,052 15,415 14,958
Portion (%) 15.0 16.0 15.5
Others 6,914 6,471 6,589
Portion (%) 7.4 6.7 6.8
Operating Income 5,194 4,575 2,422
Automotive 3,481 2,585 1,062
Margin (%) 4.8 3.5 1.4
Finance 703 718 747
Margin (%) 5.0 4.7 5.0
Others 575 339 105
Margin (%) 8.3 5.2 1.6
Adjustment 434 932 508
2018 1H
2019 1H HoH
47,148 50,953 8.1%
36,241 39,633 9.4%
76.9 77.8
7,994 8,003 0.1%
17.0 15.7
2,913 3,317 13.9%
6.2 6.5
1,632 2,063 26.4%
851 1,546 81.7%
2.3 3.9
439 517 17.7%
5.5 6.5
127 120 -5.6%
4.4 3.6
215 -120
29
Finance Division_HCA
Earnings Trend
Asset Origination
Penetration Ratio
Managed Asset Size
(KRW Bil.)
(USD Bil.)
30
48.4%
55.8% 53.6%
46.1% 50.8%
2015 2016 2017 2018 2019 1H
74.8% 79.4% 80.8% 80.8% 81.1%
2015 2016 2017 2018 2019 1H
Sub Prime
Near Prime
Prime
27.7
31.0 31.1
30.3 30.5
2015 2016 2017 2018 2019 1H
7,013 8,633 9,124
9,738
5,304
3.1%
1.0% 1.2%
1.7%
2.4%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2015 2016 2017 2018 2019 1H
Revenue Net Profit %
이종목의더많은 IR정보 확인하기
주주와 기업을 연결하고 응원합니다.