Hyundai Posts 27.1 Pct Rise in 3Q Net Profits

  • Sales revenues slide 6 pct y-o-y but net jumps thanks to strong performance of overseas units

SEOUL, Korea, Oct. 27, 2005 - Hyundai Motor Co.’s third quarter sales revenues of 6.1498 trillion won brought the Jan-Sept total to 19.266 trillion won, a decline of 3.3 percent over the comparable period last year while gross profits for the first three quarters were down 26.4 pct to 3.711 trillion won.

Thanks to strong performances by the company’s overseas units in China, India, Turkey and the United States, Hyundai’s third quarter net profit of 5.349 trillion won was up 27.1 percent year-over-year, lifting Hyundai’s total net to 16.579 trillion for the first three quarters.

With strong sales overseas and signs of a recovery in the domestic market, the outlook for the remainder of the year remains positive.

On a unit sale basis, 1,202,966 million units were sold worldwide in the first three quarters of this year, up 0.3 percent on a y-o-y basis. Domestic sales contracted by 2.3 percent to 396,136 while exports edged up by 1.7 pct to 806,830.

Established in 1967, Hyundai Motor Co. has grown into the Hyundai Kia Automotive Group which includes over two dozen auto-related subsidiaries and affiliates. Employing over 50,000 people worldwide, Hyundai Motor posted US$26.1 billion in sales in 2004 (on a non-consolidated basis). Hyundai motor vehicles are sold in 193 countries through some 5000 dealerships and showrooms. Hyundai Motor Co. is a sponsor of the 2006 FIFA Germany World Cup. Further information about Hyundai Motor Co. and its products is available at http://www.hyundai-motor.com/

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