DY Auto Posts KRW 442.3 Billion in First-Half Revenue, Up 47.3% Year-on-Year

DY Auto's revenue for the first half of this year reached KRW 442.3 billion, a 47.3% increase compared to the same period last year.

According to DY Auto on August 18, operating profit for the first half stood at KRW 20.8 billion, while net profit was KRW 18 billion. Operating profit remained at a similar level to the same period a year earlier, but net profit soared by 328.6%.

The revenue growth in the first half was driven by the expansion of new car sales and mass production of new models by major customers. The launch of dedicated EV cars such as the EV5, increased sales of the Seltos, and the initial strong sales performance of Kia's first purpose-built vehicle (PBV), the PV5, led to higher demand for related auto parts.

On a consolidated basis, net profit for the first half was KRW 18 billion, a 328.6% increase from KRW 4.2 billion in the same period last year. Pre-tax profit also surged from KRW 7.3 billion last year to KRW 21.3 billion, driven by improved non-operating income and expenses.

The improvement in performance was also apparent on a separate basis. On a separate basis, net profit was KRW 18 billion, up 129.0% from KRW 7.9 billion in the same period a year earlier, and pre-tax profit was KRW 21.3 billion, a 94.6% increase from KRW 10.9 billion last year.

Along with improved profitability, key financial indicators also showed positive trends. As of the end of the first half, the debt ratio stood at 704.3%, down 40.4 percentage points from 744.7% at the end of last year. The current ratio increased from 43.8% at the end of last year to 56.7%.

The same trend was observed in the separate financials. As of the end of the first half, the debt ratio was 699.0%, down 38.0 percentage points from 737.0% at the end of last year, while the current ratio rose by 12.9 percentage points, from 43.9% to 56.8%.

A DY Auto official stated, "In the first half, our production volume and revenue rose significantly, driven by strong sales from leading customers coupled with expanded mass production of new models. In the second half, we plan to continue our business growth and improve profitability by responding proactively to expanding production of new models based on stable volumes of existing core models, as well as through production efficiency and strengthening our cost competitiveness."

This content was produced with the assistance of AI translation services.