Hyundai Wia Q3 Sales Rise 14.3% YoY to 2.459 Trillion Won

Hyundai Wia increased both sales and operating profit in the third quarter of this year, driven by growth in its modules, engines and thermal management businesses. Higher engine supply volumes in South Korea and Mexico, along with a sharp expansion in thermal management sales, fueled overall growth.

Hyundai Wia said on October 30 that it recorded consolidated sales of 2.459 trillion won and operating profit of 54.7 billion won in the third quarter of this year. Sales rose 14.3% and operating profit increased 5.5% from the same period last year. Compared with the previous quarter, sales grew 4.5% and operating profit rose 8.6%.

Hyundai Wia's new plant in Slovakia. Hyundai Wia

Growth in sales was led by the mobility segment. Third-quarter sales in the segment reached 2.2884 trillion won, up 15.1% year over year. Module sales increased 18%, while higher engine supply volumes in South Korea and Mexico contributed to growth in vehicle parts sales.

The thermal management business also continued to grow. Its sales in the third quarter increased 160% year over year, driven in part by higher volumes of air-conditioning systems. Growth in thermal management, following modules and engines, also supported expansion in the mobility segment.

Operating profit rose on the back of higher sales. Although changes in product mix and increases in material and logistics costs weighed on profitability, operating profit from continuing operations overall increased from the same period last year. However, operating profit growth was limited to 5.5%, well below the rate of sales growth, indicating that profitability improved only modestly.

Hyundai Wia is also working to restructure its business portfolio around future mobility. The company plans to focus the funds and management resources secured through the ongoing sale of its special-purpose business division on growth areas such as core mobility components, thermal management and robotics.

The company also outlined its medium- to long-term investment plan. By 2035, it plans to invest approximately 1.8 trillion won in research and development (R&D), approximately 1 trillion won in expanding its global production bases, and approximately 900 billion won in developing new businesses. Total investment is expected to reach approximately 3.7 trillion won. The plan aims to strengthen the competitiveness of core components for future mobility and expand the business foundations of growth areas.

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