Hyundai Motor Company 3 rd Quarter 2016 Business Results. October 26, 2016

Transcription

1 Hyundai Motor Company 3 rd Quarter 2016 Business Results October 26, 2016

2 Cautionary Statement with Respect to Forward-Looking Statements In the presentation that follows and in related comments by Hyundai Motor s management, our use of the words expect, anticipate, project, estimate, forecast, objective, plan, goal, outlook, target, pursue and similar expressions is intended to identify forward looking statements. The financial data discussed herein are presented on a preliminary basis before the audit from our Independent Auditor; final data will be included in HMC s Independent auditor s report. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, actual results may differ materially due to numerous important factors. Such factors include, among others, the following : changes in economic conditions, currency exchange rates or political stability; shortages of fuel, labor strikes or work stoppages; market acceptance of the corporation s new products; significant changes in the competitive environment; changes in laws, regulations and tax rates; and the ability of the corporation to achieve reductions in cost and employment levels to realize production efficiencies and implement capital expenditures at levels and times planned by management. We do not intend or assume any obligation to update any forward-looking statement, which speaks only as of the date on which it is made. 2

3 Table of Contents Sales Summary Financial Summary Appendix - Operations by Plant - Consolidated Financial Statements 3

4 Sales Summary Retail Sales Sales by Plant Sales by Segment 4

5 Sales Summary : Retail Sales (Thousand units) +7.0% 3.3% +1.6% +9.4% Korea E U China U S +1.9% +11.6% 4.3% 314 India 351 3, , ,055 1,010 Global Retail Sales Others Company Data (Excluding CKD sales) 5

6 Sales Summary : Sales by plant (Thousand units) Q Q vs Q16 vs. 3Q15 Korea 410 1, , % 22.5% China % +19.5% India % +8.2% U S % +1.0% Czech % +1.1% Turkey % 2.9% Russia % +0.0% Brazil % +2.9% China (CV) % 8.6% Total 1,122 3,538 1,085 3, % 3.3% 6

7 Sales Summary : Sales by segment (Thousand units) Q (share) (share) Q (share) (share) 16. vs. 15. Share change 3Q16 vs. 3Q15 Small % % % % 0.8%pt +0.6%pt Small-Mid % 1, % % 1, % 3.0%pt 1.6%pt P V Mid % % % % 1.5%pt 3.3%pt Large % % % % 1.1%pt 1.1%pt Total % 2, % % 2, % 6.4%pt 5.4%pt Small-Mid % % % % +7.0%pt +6.3%pt R V Mid % % % % 0.4%pt +0.0%pt Total % % % % +6.6%pt +6.4%pt Light % % % % 0.5%pt 1.0%pt C V Heavy % % % % +0.3%pt +0.0%pt Total % % % % 0.2%pt 1.0%pt Total 1, % 3, % 1, % 3, % 7

8 Financial Summary Revenue and Operating Income Analysis COGS and SG&A Analysis Non-operating Income Analysis 8

9 Revenue and Operating Income Analysis Revenue by division Operating income by division (Billion KRW) (Billion KRW) +1,917 (+2.9% ) 67,194 69,111 4, ( 13.8% ) 4,172 52,644 53,278 3,678 2,656 9,451 10,857 5,099 4, Auto Finance Others Auto Finance Others Consolidation adjustments Auto : Rising SUV sales despite production loss Finance : Expanding financial products on new models Auto : Low utilization rate from strikes in Korea plants Finance : Loss from declining residual value in the US Consolidated revenue and operating income under K-IFRS 9

10 COGS and SG&A Analysis COGS SG&A (Billion KRW) (Billion KRW) Against Revenue : 79.9% + 1.1%pt 81.0% Expenses share share change Salary 2, % 2, % 1.5% Marketing 2, % 2, % 11.7% 53,655 55,955 Warranties related 1, % 1, % 0.2% Research % % 13.6% Others 2, % 2, % 0.4% Total 8, % 8, % 3.3% Rise in fixed costs due to lower utilization rate in Korea plants, despite recovery in overseas and product mix improvement Rise in marketing expenses for new models Rise in research expenses on advanced research for future technologies 10

11 Non-operating Income Analysis Other Finance Equity Income (Billion KRW) (Billion KRW) (Billion KRW) 1,462 1, : 1,553.2 Non-operating Income :

12 Appendix Operations by Plant Consolidated Financial Statements 12

13 Operations by Plant Korea Plant (HMC) US Plant (HMMA) Sales Volume Revenue Sales Volume Revenue Accent Sonata Others Elantra Santa Fe (Thousand units, Billion KRW) Elantra Santa Fe Sonata (Thousand units, Billion KRW) 1, , Chg. Rev. 32,110 29, % Domestic 13,605 14, % Export 18,505 15, % Chg. Rev. 5,493 6, % ~3Q ~3Q ~3Q ~3Q 13

14 Operations by Plant India Plant (HMI) China Plant (BHMC) Sales Volume Revenue Sales Volume Revenue i10 i20 Eon Creta Others (Thousand units, Billion KRW) Accent Elantra Mistra Sonata ix25 Tucson Santa Fe (Thousand units, Billion KRW) Chg. Rev. 3,836 4, % Chg. Rev. 12,888 14, % ~3Q ~3Q ~3Q ~3Q 14

15 Operations by Plant Czech Plant (HMMC) Turkey Plant (HAOS) Sales Volume Revenue Sales Volume Revenue i30 ix20 ix35 (Thousand units, Billion KRW) i10 i20 (Thousand units, Billion KRW) Chg Chg. Rev. 4,114 5, % Rev. 2,239 2, % ~3Q ~3Q ~3Q ~3Q 15

16 Operations by Plant Russia Plant (HMMR) Brazil Plant (HMB) Sales Volume Revenue Sales Volume Revenue Solaris Rio (Kia) Creta (Thousand units, Billion KRW) HB20 (Thousand units, Billion KRW) Chg Chg. 73 Rev. 1,344 1, % Rev. 1,298 1, % ~3Q ~3Q ~3Q ~3Q 16

17 Statement of Income (Billion KRW) Q Q Q Q Q yoy qoq Revenue 23,430 24,765 22,351 24,677 22, % 10.5% Gross Profit 4,565 4,719 4,239 5,023 3, % 22.5% Margin (%) SG&A 3,061 3,204 2,897 3,261 2, % 13.4% Portion (%) Operating Income 1,504 1,515 1,342 1,762 1, % 39.4% Margin (%) Income before tax 1,705 2,063 2,163 2,382 1, % 37.2% Margin (%) Net Income 1,206 1,529 1,768 1,764 1, % 36.6% Margin (%) Depreciation Amortization EBITDA 2,203 2,273 2,144 2,573 1,908 17

18 Statement of Income by division (Billion KRW) Q Q Q Q Q yoy qoq Revenue 23,430 24,765 22,351 24,677 22, % 10.5% Automotive 18,286 20,036 17,239 19,421 16, % 14.4% Finance 3,370 2,985 3,529 3,561 3, % +5.8% Others 1,774 1,744 1,583 1,695 1, % 0.3% Operating Income 1,504 1,515 1,342 1,762 1, % 39.4% Automotive 1,043 1,464 1,096 1, % 84.0% Finance % 38.0% Others % 9.0% Adjustment % - 18

19 Statement of Financial Position (Billion KRW) End-2015 End-3Q16 Diff. % chg. Asset 165, ,081 +1, % Current Asset (a) 67,529 66, % Liabilities (b) 98,487 97, % Current Liability (c) 41,214 39,246 1, % Debt (d) 64,932 66,874 +1, % Provision 6,742 6, % Equity (e) 66,881 69,247 +2, % Capital Stock 1,489 1, Capital Surplus 3,520 3, % Retained Earnings 60,035 63,253 +3, % Current Ratio (a/c) % % Liability to Equity (b/e) % % Debt to Equity (d/e) 97.1 % 96.6 % EBITDA/Interest Exp x 29.3 x 19

20 Cash Flows (Billion KRW) Q Q Q Q Q Beginning 6,113 6,467 7,332 6,475 6,414 Net Income 1,206 1,530 1,768 1,764 1,119 Depreciation Amortization Acquisitions of Tangible 2,371 1, Acquisitions of Intangible Dividends paid Others 1, , Ending 6,467 7,332 6,475 6,414 7,578 20